Green Marine
Euroports: ECA Compliance Cannot Be Optional
Shippers operating within Sulphur Emission Control Areas (SECAs) should be deciding on which strategy for compliance to the latest sulphur emission regulations to embrace, and not deciding whether or not to comply, transport and logistics group Euroports says. However, inconsistent and weak rule enf
Liner Reliability Plunges
Liner service reliability fell to a record low in January as the effects of US West Coast congestion and the phasing-in of new alliance services took their toll, according to Drewry’s Carrier Performance Insight. The overall on-time performance for the three key East-West trades slumped to a disappo
Baltic Dry Index Hits New Record Low
The Baltic Dry Index (BDI) dropped by another eight points reaching its new record low at 522 points on Monday. The Baltic Dry Index has fallen close to 50% over the past 12 months. The Baltic Capesize Index fell to 614 points, 16 points lower than last reported, whereas Baltic Supramax Index stood
Stena Line First to Order New Wärtsilä Scrubbers
Swedish ferry operator Stena Line is planning to retrofit two of its Ro-Ro vessels with Wärtsilä scrubbers to meet the 0.1% sulphur emission cap. The in-line closed-loop scrubber systems will be installed on the Stena Transit and Stena Transporter ferries operating between Hoek van Holland in the Ne
ESC: Shipping Alliances Lead to Market Convergence
The increased collaboration between the French container ship operator CMA CGM and Germany’s Hamburg Süd will bring the container liner market one step closer to total convergence, the European Shippers’ Council warns. This will reinforce the risk of reducing service quality and sailing frequency as
IOM: More Needs to Be Done on Saving Migrants
Amid escalating violence in Libya, the International Organization for Migration (IOM) called on world governments to act swiftly to face the growing threat to migrants, as over a thousand are rescued from unseaworthy boats on the Mediterranean Sea this weekend. IOM pointed to the rescue since Friday
Nicaragua Seeks EU Support on Canal Construction
Nicaragua’s Secretary for National Policy, Paul Oquist has submitted the project for construction of inter-oceanic Nicaragua Grand Canal, to the institutions of the European Union. Nicaragua is seeking both financial and political support from the EU members, as it struggles to emerge from poverty a
UASC Ventures into North Atlantic Trade
United Arab Shipping Company (UASC), the French liner CMA CGM and Germany’s Hamburg Süd have agreed to form a new service on the Transatlantic North trade routes, linking Northern Europe with the United States East Coast. The new service, starting in the third week of May, will call at the ports of
Shipping and Private Equity Could Be a Perfect Match
The time is right for the private equity sector to finance products and services designed to keep the shipping industry competitive and achieve regulatory compliance, the international accountant and shipping adviser Moore Stephens says. Alison Jarabo of maritime efficiency specialist Fathom Shippin
Drewry: ECA Compliance Costs Shippers Nothing
The implementation of the new marine pollution regulation in North Europe and the US since January has so far resulted in zero extra costs for shipping lines and shippers, according to Drewry Maritime Research. Resistance from shippers and the opportune collapse of oil prices have neutralised the co
Golar LNG Wraps Up Golar Viking Sale
Golar LNG Ltd has completed the sale and delivery of the 2005-built LNG carrier Golar Viking to PT Perusahaan Pelayaran Equinox (Equinox), the company said. The transaction has been concluded at a sale price of USD 135 million. The vessel has been re-named “Salju” under Indonesian flag and registry.
Shipping Industry Faces Erroneous Payment Risks
The shipping industry is at a high risk of unauthorised and/or erroneous payments due to the nature of the movement of cash throughout the industry, according to UK-based consulting firm Moore Stephens. Shipping, being a cash-driven business, and the combination of large, frequent and often short-no
CKYHE Adjusts Asia-Europe Services
The CKYHE alliance between the Asian liners COSCON, ”K”Line, Yang Ming, Hanjin and Evergreen Line is reorganizing their service network for Asia-North Europe and Asia-Mediterranean trades in 2015. CKYHE Alliance will provide six Asia-North Europe services (NE2/NE3/NE5-CEM/NE6/NE7/NE8-CES) and three
Italy Saves Over 2,000 Mediterranean Migrants
Four migrant smugglers armed with Kalashnikov guns threatened one of the Italian coastguard’s motorboats involved in Sunday rescue operations of around 2,200 Libyan migrants trying to reach Europe, the BBC reports. The four armed smugglers arrived in a speedboat from Libya and ordered the coastguard