Green Marine
Odfjell Goes Paperless
Norwegian operator of chemical tankers and gas carriers Odfjell has decided to install NAVTOR e-navigation software throughout its entire fleet of 50 deep-sea vessels. NAVTOR will now facilitate Odfjell’s transition from paper charts to paperless navigation, ensuring that all vessels meet the class
Litgas Eyes LNG Market
Lithuanian natural gas supply and trading company Litgas is planning to enter a small scale LNG supply and bunkering market with Statoil. The companies are currently analyzing cooperation opportunities and plan to agree on the form of cooperation within the second quarter this year. ”The Klaipeda LN
Update: Iranian Tanker Operator Back on EU Black List
During a yesterday’s meeting in Brussels, European Union members reportedly decided to again blacklist Iran’s largest tanker operator National Iranian Tanker Company (NITC), after the company failed to convince a London Court to prevent the EU from reimposing sanctions, Reuters reports. The earlier
Britons Seek Damages from Concordia Operator
Britons that were onboard the sunken Costa Concordia cruise ship have decided to file suit against cruise liner Costa Crociere Spa, operator of the ship. The grieved passengers plan to seek damages from Italian court for physical and psychological effects caused by the grounding, including post-trau
Image of the Day: Edith Maersk Heads to Hong Kong
The image shows one of Maersk Line’s container giants, the Edith Maersk, leaving busy Chinese Port of Ningbo en route for Hong Kong, where she is scheduled to arrive on February 16th. Edith Maersk is the sister ship of Emma Maersk, one of the largest cargo ships in the world. She was built by the [&
AML Agrees to Pay for Illegal Waste Oil Dumping
German shipping company AML Ship Management GMBH and the chief engineer onboard one of its vessels agreed to plead guilty to illegally dumping oily water off Alaska, writes the Associated Press (AP). The US prosecutors said that Nicolas Sassin, the chief engineer on the AML-operated ship City of Tok
ICCT: Arctic Shipping Emissions Might Increase Sixfold by 2025
A new report by the International Council on Clean Transportation finds that emissions from Arctic shipping traffic could rise 150-600 percent by 2025, the environmental group Friends of the Earth reports. As global warming intensifies and Arctic sea ice melts, marine vessel traffic is expected to i
Update 2: Baltic Dry Index Plummets Further
The Baltic Dry Index has fallen to 540 points February 12, marking a further 13 point (-2.35%) slide compared to the previous record low of 553 points reached just a day earlier. Dry bulk owners have seen their earnings slashed as a result of the index fall, some of them even forced to resort to ban
Poor Communication Leading Culprit in Maritime Accidents
Half of the costs of hull and machinery claims handled by the Swedish Club have arisen due to navigational claims such as collisions, contacts or groundings, the Club says in a release. The Gothenburg-based marine insurer says that this figure has remained steady over recent years despite improved t
Seago Line Starts North Europe-Morocco Link
The Danish shipping company Seago Line, an independent entity within the A.P. Moller – Maersk Group, is starting a new service next week, connecting Sweden’s Port of Gothenburg to Casablanca and Agadir in Morocco. Swedish exports to Morocco have more than doubled in the past ten years. In 2013, the
Tsakos Catches Contango Fever
NYSE-listed tanker owner and operator Tsakos Energy Navigation has signed a six month storage contract for a Very Large Crude Carrier (VLCC) with an unnamed client. According to the company’s fleet list, the company currently operates one VLCC – the 1998-built, 301,171 dwt Millennium. TEN expects th
Concordia Captain Gets 16 Years
Former captain of the sunken Costa Concordia cruise ship, Francesco Schettino, has been sentenced to 16 years of prison by an Italian court. The Grosseto-based court reached the verdict on Wednesday convicting Schettino for multiple manslaughter, causing of shipwreck and abandoning ship while his pa
Update: Greek Coast Guard Rescues Crew of Beached Bulker
The Hellenic Coast Guard safely evacuated all 22 crew members of the bulk carrier Goodfaith that grounded yesterday on the northern shore of the Greek island Andros, the Aegean Sea. 18 crewmen were airlifted, while the local fire department coordinated the land rescue of the remaining four. The thre
Zacks: Shippers Have Good Year Ahead
2015 will be good for the shipping industry with sector specific risks projected to decline and new investment slated to flow in, the investment analyst Zacks predicts. Cheaper fuel will be a major positive for shipping companies this year, according to Zacks. The slump in crude is expected to signi