Green Marine
Term of the Day: Vessel Sharing Agreement (VSA)
A Vessel Sharing Agreement (VSA) is usually reached between various partners within a shipping consortium who agree to operate a liner service along a specified route using a specified number of vessels. It is not necessary for each of the partners to have an equal number of vessels. The quantum of
Maritime Silk Road to Include Thai Canal?
The Thai Canal, also known as Kra Canal, that would cut through southern Thailand to enable improved transportation in the region, could be part of the new “Maritime Silk Road” in the South of Thailand. The concept was presented to local media by Pakdee Tanapura, deputy director of the economic sect
Chile Accuses Car Carriers of Price Fixing
Chile’s National Prosecutor’s Office (FNE) is seeking USD 75 million in fines against six Chilean, South Korean and Japanese shipping companies for colluding to raise prices on shipping cars into the country. On Wednesday, January 28, FNE filed a lawsuit at the Court of Defense of Free Competition (
DMA Urges Shipowners to Prep for Wreck Removal Regulations
With the upcoming entrance into force of the Nairobi International Convention on the Removal of Wrecks on 14th of April 2015, new regulations will be implemented affecting all signatory countries. Among several provisions, the Convention is aimed at placing financial responsibility for the removal o
Euronav Assigns USD 235.5 Mln for Maersk’s VLCCs
Having closed its Initial Public Offering (IPO) of ordinary shares on NYSE, Euronav NV said it would repay the USD 235.5 million bond issued to finance the acquisition of 15 VLCCs from Maersk Tankers Singapore Pte Ltd announced on 5 January 2014. The vessels have an average age of 4 years and will e
Mild Shift in Ship Speeds Expected
A mild shift in the speeds of containerships, especially on the head-hole, can be expected as new liner mega alliances endeavor to speed up their transit times, according to UK shipping consultant Drewry. Aiming to polish up their brands, liner giants that have joined their operating pools are likel
Clarksons Wraps Up RS Platou Buy
London-based shipbroker Clarkson PLC has completed its USD 441 million acquisition of the Norwegian RS Platou ASA today. The UK shipbroker said that the number of ordinary shares that Clarksons has in issue is 30,116,758. The acquisition plan was confirmed by Clarkson in November 2014 and approved b
Turkish Environmentalists Boycott Ship Carrying Radioactive Waste
Environmentalist groups are urging Turkish authorities to prevent a ship, believed to be loaded with radioactive waste, from entering Turkish waters. Namely, Chevron-operated FPSO Kuito has left Angola recently and is approaching Aegean port of İzmir, where Aliaga shipyard is situated. The vessel is
New Record for Rotterdam–Felixstowe Ferry Service
The DFDS Rotterdam-Felixstowe roro service has set another record of lane meters shipped in one week, DFDS Seaways reported. According to the company’s latest figures, the roro service has shipped 65,179 lane meters in week four. This beats the previous record of 62,879 lane meters in December last
Economic Boom Puts Pressure on India’s Ports
India’s economic growth looks set to surpass China’s for the first time in 2016, lending support to both east and westbound container trade expansion, according to Drewry Maritime Research. However, the predicted uptick in Indian container trade depends on the ability of the new government to delive
Emerging West African Ports Threat for West Med Hubs
The double digit growth at the West Mediterranean hubs is likely to be cut as the development of deep water hub ports in the Gulf of Guinea gains momentum,according to UK shipping consultant Drewry. Mediterranean ports like Morocco’s Tanger Med transshipment hub or Algeciras have recorded a signific
Dublin Port Ready for Bigger Container Ships
Dublin Port Company has officially opened its newly completed Alexandra Quay Container Terminal following a EUR 35 million (USD 39.6m) investment. The opening marks the completion of the third and final phase of the development of the new facility. This third phase will enable the terminal to cater
Greek Shippers Must Keep Close Tabs on Syriza
It is too soon to say whether the Syriza party’s victory in Greece could, as some fear, have a damaging effect on the country’s shipping industry, but Greek shipping interests will need to monitor how the change of government might affect them on both a business and personal level before reviewing a
Term of the Day: Automatic Identification System (AIS)
Automatic Identification System or AIS is a system used by ships and Vessel Traffic Service (VTS) principally for the identification and locating of vessels. The system is intended to assist a vessel’s watchstanding officers and allow maritime authorities to track and monitor vessel movements. AIS i