Green Marine
Seago Line Starts West Mediterranean-Maghreb Service
Seago Line is launching a new weekly, fixed schedule Intra Maghreb service, dedicated to develop the short sea markets with special focus in the Maghreb area. Transit times from/to Casablanca and Tunis will be seven days, with connections to Valencia, Spain and Marsaxlokk, Malta as West Mediterranea
Wärtsilä and CME Offer Scrubber Financing Solution
Finnish engineering company Wärtsilä and Clean Marine Energy (Europe), a developer of Emission Compliance Service Agreements, have signed a collaboration agreement that will provide funding intended to ease the financial burden on ship owners seeking to install scrubber systems in order to meet sulp
JR Shipping Takes Over Universal’s Bankrupt Vessels
Harlingen-based JR Shipping Group is taking over six container feeder vessels from Universal Marine upon request from Dutch Bremer Landesbank, the principal financier of the shipping CVs which operate the vessels. Under the bank’s initiative, which is dubbed as the final rescue attempt, JR Shipping
Infographic: EU Shipping Industry in Numbers
A recently updated Oxford Economics study has revealed that the overall contribution of the European shipping industry to the European Union’s GDP in 2013 was around EUR 147 billion (USD 163.7bn). Moreover, for every EUR 1 million the European shipping industry contributes to GDP itself, it creates
Golar LNG, Rosneft Eye FLNG Cooperation
Owner and operator of LNG carriers Golar LNG Limited and Russia’s gas producer Rosneft Oil Company have entered into a Memorandum of Understanding on cooperation in the area of floating liquefaction (FLNG) and transportation of natural gas. Under this MoU the companies plan to discuss opportunities
ECSA: Strong EU Equals Strong Shipping Sector
For shipping to remain a facilitator of trade, a provider of jobs and a dynamic sector of the economy, the European Union must continue its role as a commercial heavyweight, the European Community Shipowners’ Association (ECSA) said in a mid-term review of the EU’s Maritime Transport Policy, present
Scorpio Bulkers Deep in Red
Monaco-based Scorpio Bulkers recorded USD 116.6 million net loss in 2014, the majority of which came in the final quarter when the dry bulk shipping operator accumulated a USD 72m loss. The loss in the fourth quarter includes a USD 55.5m loss on disposal of assets and the non-cash amortization of st
ESC Global Security to Protect Panama-Flagged Ships
The Panama Maritime Authority has accredited ESC Global Security personnel to offer protection aboard Panamanian-registered vessels, in what is thought to mark the first Private Maritime Security Companies (PMSC) licence issued under the new Panama Administration. During December 2014, a new set of
Diana Cuts Loss
Greek dry bulk shipping specialist Diana Shipping managed to more than halve the annual net loss from USD 21.2 million reported in 2013, to USD 10.3m in 2014. The majority of the 2014 net loss was recorded in the fourth quarter, which the company ended USD 6.2m in the red, which was still an improve
Shipowners Still Not Sold on LNG
The preliminary results of a study launched by the European Commission show that stakeholders recognise the environmental advantages of LNG as a shipping fuel, but are still uncertain whether they offer a clear business case. The study reveals that the major motivation for stakeholders to engage in
Towing of Lysblink Seaways Begins
The towing operation of the cargo vessel Lysblink Seaways to Inchgreen, Greenock on the Firth of Clyde has kicked off. Lysblink Seaways ran aground north of the Isle of Mull, off the west coast of Scotland, on February 18th. “The tow will, where possible, take advantage of sheltered waters and will
ICS: EU Must Step Up and Counter Mediterranean Migration
The burden of responsibility placed on merchant ships and their crews to rescue migrants in distress in the Mediterranean has been further increased by the replacement of Italy’s humanitarian ”Mare Nostrum” operation with the EU funded ”Triton” operation, whose primary mandate is border protection a
Norden Posts Loss amid Disappointing Dry Cargo Market
Danish shipping company Dampskibsselskabet Norden A/S reported a USD 416 million loss in its annual results for 2014 amid severely worsened dry cargo market. The results were also affected by value adjustments on hedging instruments winding down in USD 61 million loss, Norden said. The group’s EBITD
Ukrainian President Urged to Settle Ilyichevsk Port Dispute
Ukrainian privately-owned terminal operator Container Terminal Ilyichevsk (CTI) has called on the country’s President Petro Poroshenko to step in and settle the dispute between CTI and the state-owned enterprise Ilyichevsk Commercial Seaport. CTI is appealing the court decision initiated by the Blac