The UK Coastguard have coordinated a long range rescue after an oil tanker sank 240 miles off the coast of Yemen in the early morning hours on June 26. The coastguard received reports of a mayday distress call issued by the oil tanker, which is registered under a Panamanian flag, reporting that it w
The Association of Bulk Terminal Operators (ABTO) has called for a complete overhaul of the cargo sampling and liquefaction testing protocols for raw ores and less common cargoes, such as nickel ore, fine wet coal and bauxite. According to Professor Mike Bradley, a member of the advisory panel to AB
Traffic growth in the ports sector is likely to remain well below historical levels for the foreseeable future, due to fundamental structural changes in the industry and global trade, according to Fitch Ratings. Global port traffic growth has slowed in recent years due to a mix of mostly structural
Dubai-based port and terminal operator DP World and Abu Dhabi’s renewable energy company Masdar have signed a memorandum of understanding (MoU) to explore clean energy solutions for DP World’s ports and free zones in the Middle East and Africa. As informed, Masdar will work with DP World to address
The move to launch ship-to-ship fuel bunkering at Qatari ports may not be sufficient to fulfill the marine fuel oil demand that has been displaced from Fujairah as a result of the Qatari crisis, Platts said citing undisclosed sources. Although some sources said that bunkering at the Fujairah Offshor
The severing of diplomatic ties between Qatar and its neighbors in the Gulf has caught the market off guard, causing a lot of concern amid growing uncertainty surrounding the impact of the crisis on the shipping industry. Being the world’s biggest exporter of LNG, it was assumed that the LNG shippin
The maritime industry and broader ocean supply chain are suffering from major and costly inefficiencies due to ineffective data sharing and poor cross-industry collaboration, a new report and industry survey released by the Business Performance Innovation (BPI) Network in coordination with Navis and
Carriers’ overall on-time schedule reliability improved 4.7%, increasing from 58.6% in April 2017 to 63.3% in May 2017, according to the latest data provided by intelligence provider CargoSmart. Regarding schedule reliability by trade, 10 of the 12 trades improved from April 2017 to May 2017. The tr
Despite a modest increase in freight rates seen in 2017, a sustainable recovery in the container shipping market would be possible only by reaching a viable supply-demand balance through capacity cuts, Fitch Ratings said. Container transport volumes outstripped capacity growth in 2016 for the first
The Foreign Minister of Qatar Sheikh Mohammed bin Abdulrahman Al-Thani said that the Gulf crisis cannot be resolved unless the “siege” is lifted. Speaking at a press conference on Monday, June 19, the Minister said that there can be no dialogue as countries that imposed restrictions on Qatar never g
Port developer and operator Abu Dhabi Ports has entered into a 35-year concession agreement to develop, manage and operate the port of Fujairah. Under the agreement, the parties said they would also establish a new operational arm, the Fujairah Terminals, which would be owned by Abu Dhabi Ports. Thr
State-owned petroleum company Qatar Petroleum has launched a ship-to-ship fuel bunkering facility for all vessels calling on Qatari ports as of June 19, on the back of an ongoing crisis related to Qatar. “Due to the unfortunate ongoing crisis, many of our clients were impacted by regional decisions
The International Chamber of Shipping (ICS) has urged the International Maritime Organization (IMO) to back the proposal from a broad coalition of governments that would result in postponing the implementation dates for installing new ballast water treatment systems. “If this pragmatic proposal is a
Doha-based liquefied natural gas company Qatargas has entered into a new sale and purchase agreement (SPA) to deliver up to 1.1 million tonnes of LNG per year to oil and gas conglomerate Shell for a period of five years. Under the terms of the agreement, which is scheduled to commence in January 201
