Green Marine
BW LPG in Clover
Owner and operator of very large gas carriers (VLGC) BW LPG has enjoyed very favorable market conditions in 2014. The company has reaped the fruits of exceptionally high charter rates with its 2014 time charter equivalent income reaching USD 539.2 million, 87% higher than 2013. 2014 EBITDA for the y
Spain Criticized for Towing Burning Trawler to Open Seas
The environmental organization Greenpeace has criticized Spanish authorities for towing the burning Russian trawler Oleg Naydenov from the port of Las Palmas to the open seas where the vessel sank on Tuesday, laden with 1,409 tons of fuel, Reuters reports. Greenpeace says that the ship poses an envi
Navios Charters Out Three Tankers
The NYSE-listed tanker owner and operator Navios Maritime Acquisition Corporation has chartered out one Very Large Crude Carrier (VLCC) and two MR2 product tankers for a period of one year. The Nave Galactic, a 2009-built VLCC, has been chartered at a rate based on the BITR TD3-TCE index. Navios Acq
Drewry: Giant Boxships Plaguing the Industry
Despite positive growth momentum, the container shipping industry continues to suffer new, big ship deliveries with no let-up to the ordering frenzy, according to the Container Forecaster published by Drewry Maritime Research. Drewry forecasts another year of excess growth in relation to demand in 2
Tilbury Boosts Spanish Container Service
London’s major port in Tilbury and JSV Logistic are launching a new regular container service route between the Spanish port of Pasaia and London Container Terminal (LCT). The new service is set to start on 23rd April, with a weekly round rotation of Pasaia, Tilbury and Antwerp. JSV will transport t
Shipping Associations Tackle Cyber Security Threats
The Round Table of international shipping associations (RT) comprising BIMCO, ICS, Intercargo and INTERTANKO is developing standards and guidelines to address the major cyber security issues faced by the shipping industry. Protection against malicious attacks on computer based systems onboard ships
Three Dockworkers Die in Antwerp
Three dockworkers died on Saturday in Antwerp, Belgium, after entering a ship’s hold to unload coal where they are believed to have suffocated from toxic gases. The ship, identified by the local media as Norwegian bulk carrier Saga Frontier was anchored at a Euroports quay in Antwerp for unloading w
Grup TCB to Buy Terminal Polivalente de Castellón
Spanish port operator Grup TCB has acquired Terminal Polivalente de Castellón (TPC) located near the city of Valencia on the Mediterranean coast. TPC manages about 80% of TEUs handled at the Castellon port, and will complement the Grup TCB’s existing terminals at the ports of Barcelona (TCB) and Val
Eurogate Earns More
Bremen-based Eurogate Group can look back on a successful business performance in 2014, as it posts highest ever container handling volumes of 14.8 million standard containers (TEU), by 4.2 % year on year. As a result, the company increased operating profit (EBIT) by 10.2% to EUR 76.5 million (previ
Western Bulk Closes Panamax Unit
The Oslo-listed dry bulk specialist Western Bulk is closing its Panamax business unit, after its chartering arm did not succeed in creating the expected synergies between the Supramax and Panamax divisions. In its Net TC Margin Report for March, Western Bulk said that WB Chartering, predominantly an
Update: Oleg Naydenov Sinks off Canary Islands
A Russian trawler Oleg Naydenov sank some 15 miles off Punta Maspalomas, the Canary Islands, at around 22:45 local time Tuesday, Spain’s Salvamento Maritimo reports. As World Maritime News previously reported, the trawler had been burning for days after a fire that started in the engine room April 1
Strongest Q1 for Dublin Port in Last Decade
Dublin Port Company’s figures for the first quarter of 2015 show continued growth in import and export trade at Ireland’s largest port with cargo volumes up 5.3% on the same period last year. This is the strongest first quarter Dublin Port has had in a decade and surpasses the previous record year o
SSI: Increased Scrutiny Pushes Shipping Industry Forward
Since 2012, industry progress has been driven by greater demand throughout shipping supply chains for transparency as well accelerating investments in alternatives to bunker fuel, the Sustainable Shipping Initiative (SSI) says in its report titled ‘Changing Context.’ The combined effect of greater c
BIMCO: Containership Rates Take a Nosedive
The containership freight rate including ocean freight and surcharges, i.e. was quoted at USD 466 per TEU for the Shanghai to Europe trading lane on Friday April 10, 2015, hitting the lowest level on record since the 2009, according to BIMCO. The new all-time low point comes on the back of deteriora