Green Marine
Tanker Market Keeps Up the Momentum
In the first quarter of 2015, tanker earnings for crude oil tankers have climbed to new strong levels, with averages not seen since 2008, BIMCO said in the latest market overview. The demand for crude oil tankers remain high even after the winter months as the market appears to have kept the momentu
Skangass Tops Out Pori LNG Terminal
Sweden’s liquefied natural gas (LNG) provider Skangass topped out its first LNG terminal in Finland on Friday, April 24. Skangass is investing EUR 86 million (USD 90.2m) in the Pori LNG import terminal, with additional EUR 23 million granted for the project by the Finnish Ministry for Employment and
Image of the Day: GASO Viking Reaches Her Owner
The image shows turnkey ferry GASO Viking recently completed by Turkish shipyard Sefine. GASO Viking’s keel was laid down on 27th of July 2013, and her delivery to her Norwegian owner took place on March 28th, 2015. Sefine Shipyard, located in Yalova, Turkey, was established in 2005, occupies 140 00
Opening Ceremony of APM Terminals Maasvlakte II Kicks Off
The opening ceremony of APM Terminals Maasvlakte II port located in Rotterdam, the Netherlands has officially opened today afternoon. APM Terminals’ newest port in the world will be the first fully automated facility with zero emissions from cargo handling equipment. Built on land reclaimed from the
VIDEO: Goliat FPSO Arrives in Norway
The Floating and Production Storage Offloading (FPSO) unit platform Goliat reached its destination on Friday 17 April after a 63-day voyage of 15,608 nautical miles. The FPSO left Hyundai Heavy Industries’ Ulsan shipyard located in South Korea on 14 February aboard the Dockwise Vanguard, the world’s
Number of Ferry Deaths in Southeast Asia Unacceptable
The number of ferry deaths in Southeast Asia recorded over the recent period is unacceptable in the 21st century, said Head of International Maritime Organization’s (IMO) Public Information Services Lee Adamson while speaking to UN Radio. The entire region is characterized by countries that are grou
MSC Cruises Drops Calls in Ukraine and Egypt amid Safety Concerns
MSC Cruises cruise line has decided to suspended remaining 2015 calls in Ukraine and Egypt, replacing them with a number of Mediterranean alternatives. “These itinerary changes attest to MSC Cruises’ permanent focus on the safety of guests and crew – the number one priority at all times,” the compan
Industry: EU Mediterranean Crisis Summit Falls Short
Commenting on the European Council’s decision on migrant rescue operation in the Mediterranean, the merchant shipping industry questioned the fact that operation Triton remains within the mandate of FRONTEX, the EU border agency. Namely, this raises serious questions about the extent to which these
Cecon Heading for Bankruptcy
Oslo-listed subsea contractor Cecon ASA has requested from a Norwegian court to declare it bankrupt having failed to present a restructuring plan. Over the last 4 months, Cecon has been subject to compulsory composition proceedings, during which time it explored all possibilities for a debt restruct
Slight Dip in OOCL’s Total Volumes
Hong Kong-based Orient Overseas Container Line (OOCL) recorded lower total volumes in the first quarter of 2015, ended 31st March 2015. The total volumes were 2.5% down from the same period last year, the company’s quarterly report shows. Total revenues decreased by 3.2% to USD 1,343.4 million. With
Shippers Skeptical about Shipping Alliances’ Benefits
Emergence of major shipping alliances has not convinced major shippers of the benefits they promised to bring. While speaking at this week’s TOC Container Supply China event in Singapore David Panjwani, global logistics director for US machinery manufacturer John Deere said that the emergence of fou
Bocimar Sinks Deeper in Red
Dry cargo shipping specialist of Belgian-based CMB, Bocimar, posted USD 41.2 million loss in the first quarter of 2015 as overcapacity exerts further pressure on the dry bulk markets. The loss has widened considerably when compared to a net loss of USD 4.4m in the previous year. This includes USD 2.
Video: Sunken Russian Trawler Leaking Oil
Three leaks have been detected during an inspection of the Russian trawler Oleg Naydenov that sank on April 14th some 15 miles off Punta Maspalomas, the Canary Islands. The Canary Islands Government and the Ministry of Environment said they were working on collecting the hydrocarbon residues on the
New Chairman Takes Helm at Norden
A new chairman has taken the helm of the Danish shipping company Dampskibsselskabet Norden A/S. Namely, at the company’s annual general meeting on Thursday now former Chairman of Norden’s Board of Directors Mogens Hugo has stepped down, handing over the reins to Klaus Nyborg, who was appointed Chair