Green Marine
Wärtsilä Gets Green Light for Its First LNG Terminal
Manga LNG Oy has given Wärtsilä full notice to proceed (NTP) with the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland. Wärtsilä said it would commence construction on the site near the port of Tornio in January 2015. Manga LNG Oy is a joint venture of Outokumpu Gr
Stable Outlook for The Swedish Club
A.M. Best Ratings Services Ltd has awarded a financial strength rating of A- (Excellent) and an issuer credit rating of “a-“. to marine insurer the Swedish Club with a stable outlook. In line with the rating, the Club is expected to maintain an excellent risk-adjusted capitalisation throughout 2015.
Johnny R.Saadé: Damascus Court Decision Irrevocable
In a reaction to the ruling from Beirut court on suspension of asset freeze of CMA CGM Chief’s company in Lebanon, previously ordered by the Supreme Court of Damascus, Mr. Johnny R.Saadé said that the judgement from Damascus is final and irrevocable. Under the judgement, Head of the French shipping
Spanish Docker Dies on Board Bulk Carrier
A dock worker died on Wednesday morning inside the hold of the Panama-flagged bulk carrier Hanjin Sines while moored in the outer port of Ferrol, Spain for unloading. The victim is a Spanish 57-year-old man from Ferrol, employed with the stevedore company at the port. According to local newpaper La
EU Clears Hurdle in SNCM Recovery
The European Commission has given a green light to struggling French ferry operator Société Nationale Maritime Corse Méditerranée (SNCM) for transfer of public service delegation, in several batches, as part of the company’s recovery plan. The recovery plan is the only way for the company to avoid c
US West Coast Congestion Hurting Container Reliability
Congestion issues at ports on the US West Coast contributed to lower on-time containership reliability in November, according to Drewry’s online Carrier Performance Insight report. Based on Drewry’s data, schedule integrity on the main East-West container trades decreased by 1.9 percentage points in
Star Bulk Scores Charters for 3 Newbuildings
Athens-based owner and operator of dry bulk carriers Star Bulk Carriers has found voyage employment for three of its Newcastlemax bulk carriers, currently under construction in China, with an unnamed mining company. HN 1359, HN NE 166 (to be named Gargantua) and HN NE 184 (to be named Maharaj) will
TSA Container Lines Call for Rate Hike
Transpacific container lines asked on Wednesday for a USD 600 per 40-foot container (FEU) general rate increase (GRI) for all origin and destination points, along with reinstatement of a USD 400 per FEU peak season surcharge (PSS) in anticipation of a possible pre-Lunar New Year cargo surge. Transpa
Carbofin Pleads Guilty to Concealing Pollution
Carbofin S.PA., an Italian owner and operator of a fleet of commercial liquefied gas vessels, pleaded guilty to falsifying ships’ documents to hide multiple illegal discharges of oil contaminated waste into the ocean, announced the U.S. Department of Justice Environment and Natural Resources Divisio
Box Ships Wraps Up Loan Amendments
Greece-based container shipping company Box Ships Inc. has signed a deal with the last remaining lender, a process launched in January to amend the terms of its loan agreements and improve its liquidity. Box Ships agreed with the lender to waive certain covenants and amend the repayment profile of t
Arctic Temperatures Still Rising
A new report led by the U.S. National Oceanic and Atmospheric Administration (NOAA) shows that Arctic air temperatures continue to rise at more than twice the rate of global air temperatures, a phenomenon known as Arctic amplification. Increasing air and sea surface temperatures, declining reflectiv
VIDEO: Role of Inland Waterways in Container Shipping
Tackling increased cargo volumes of containerized cargo is particularly challenging especially with respect to distribution of the cargo to their end recipients without causing congestion on roads and rail tracks. The Dutch found an efficient way of circumventing the congestion by resorting to its i
ICS Changes Stance on Ballast Water Convention
The International Chamber of Shipping (ICS) said it has modified its stance towards the ratification by governments of the International Maritime Organization (IMO) Ballast Water Management Convention, which has still not yet entered into force having been adopted more than 10 years ago. According t
Petrojarl I Changes Hands, Petrojarl Knarr Next
Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore Brazil. In connection with the contract