Green Marine
Spotted: Ploughing through the Northwest Passage
Finnish icebreakers of Arctia Shipping, MSV Nordica and MSV Fennica, are returning home from their duties as ice management vessels in the Chukchi Sea which enabled ships to go through a shorter, time and fuel saving route through Canadian arctic archipelago, the Northwest Passage. Riku Kiili and Ca
DEME Wins Port Said Side Channel Work
The Suez Canal Authority (SCA) has hired the Belgian dredging and marine engineering group DEME to dredge a side channel to provide access to the eastern part of Port Said’s port. The side channel will allow smaller vessels in the Mediterranean a twenty-four hour access to East Port Said instead of
VIDEO: Man vs Machine at Maasvlakte 2
APM Terminals’ newest terminal Maasvlakte 2 in Rotterdam, the Netherlands, is setting new standards for the terminal industry with its first remotely-controlled ship-to-shore (STS) cranes. A video released by ABB gives us a taste of the future which is expected to be dominated by unmanned machines,
Interferry Drives Search for Ro-Pax MRV Answer
In an initiative led by the global ferry industry association, Interferry, a correspondence group has been formed to recommend sector-specific metrics for ro-pax vessels under pending implementation rules for European Union (EU) legislation on the monitoring, reporting and verification (MRV) of carb
BW Pacific Shelves Oslo Listing and IPO
Singapore-based product tanker owner and operator BW Pacific has decided not to go through with plans to list its common shares on the Oslo Stock Exchange and launch a USD 250 million initial public offering (IPO), citing current market conditions as the reason, without providing any detailed clarif
Boxship Waiting Time Shortest in Busan, Hong Kong and Ningbo
Asia’s ports of Busan, Hong Kong and Ningbo have kept their lead in boxship turnaround efficiency as they required shorter waiting times at anchorages as compared to the rest of top 10 container ports from around the world for October, the latest analysis from IHS Maritime&Trade shows. The analysis
Falling Freight Rates Keep Diana in Red
Owner of dry bulk vessels, Diana Shipping Inc. today reported a net loss of USD 17.4 million for the third quarter of 2015, down from a net income of USD 7.7 million reported in the third quarter of 2014. Time charter revenues were USD 38.9 million, compared to USD 45.1 million for the same quarter
Idle Boxship Fleet Passes 1 Millon TEU Mark
The global fleet of containerships above 500 twenty-foot-equivalent units made idle has breached the 1 million TEU mark amid depressed containership market, according to Alphaliner. Just in the last two weeks, a total of 35 ships of 109,000 TEUs were made idle. The volume of idle capacity doubled si
Alleged False Results Bring Lawsuit against Höegh LNG
Norwegian owner and operator of floating LNG import terminals Höegh LNG Partners LP is under investigation related to possible violations of federal securities laws in connection with false and/or misleading financial statements released by the company. According to Law Offices of Howard G. Smith, a
Offshore Headwinds to Hit Rolls-Royce Harder than Expected
A devastating offshore market is expected to impact UK-based developer and producer of marine engines Rolls-Royce harder than expected in 2016. In the guidance for 2015, the company announced that its marine performance continued to be impacted by weakening offshore markets and continued deferment o
d’Amico Flies High on Thriving Products Tanker Market
Italian products tanker market player d’Amico International Shipping S.A. posted USD 14.7 million net profit for the third quarter of 2015, a significant improvement compared to USD 0.3 million net profit recorded in Q3 2014, on the back of strong rates in the strong tanker market. The company’s net
Merger with CSAV Keeps Hapag-Lloyd in the Black
German container line Hapag-Lloyd reported EUR 160.4 million (USD 172.4 million) net profit for the first nine months of 2015, compared to EUR 224 million net loss recorded in the first three quarters of 2014, mainly due to the merger with the Chilean Compañía Sud Americana de Vapores (CSAV) in Dece
Greek Ports Facing Another Strike
Greek ports and vessel movements will be hit by a 24-hour strike on 12 November, as announced by General Confederation of Greek Workers (GSEE), which will affect vessel movements at all Greek ports and terminals, Inchcape Shipping Services (ISS) reported. The strike will be launched at 06:00 local t
Turkish Cargo Ship Arrested in Italy
Turkish-flagged general cargo ship Ahmet Akgul was arrested in the port Torre Annunziata, Italy, on November 9 due to an outstanding debt worth USD 300,000. The arrest was ordered by local district court on behalf of an American bunkering company for unpaid bunkering services, local media reports sa