Green Marine
Image of the Day: Chasing the Sun
The image shows the U.K. Navy’s HMS Atherstone which has spent the last two weeks working in close company with the ships and staff of the Japanese 51st Mine Division in the waters of the Gulf. The two Japanese ships Bungo and Yaeyama and their battle staff led by Captain Yoshida, had deployed to th
CMA CGM Eyes OPDR Acquisition
French shipping giant CMA CGM revealed plans to acquire the German company OPDR (Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG). The announcement was made during a visit to Hamburg, Germany by the Group’s Chairman and Chief Executive Officer, Jacques R. Saadé on November 25th. OPDR is
Third Strike and Mansour Is Out
The 1977-built, 4150 dwt general cargo carrier M/V MANSOUR M has been banned for the third time from the Paris MoU region following the detentions after the second refusal of access order. The ship was detained on October 31 2014, in the anchorage of Rhodes (Greece) and left on November 3, 2014 with
SRI Warns of Mediterranean Rescue Budget Cut Effects
Seafarers’ Rights International (SRI) has warned that merchant ship masters will be negatively affected by the new EU Frontex operation ‘Triton’ which will apparently have a reduced budget and focus on border control in place of the Italian ‘Mare Nostrum’ that is credited with saving more than 150,0
BIMCO to Develop Standard Ship Financing Term Sheet
The Baltic and International Maritime Council (BIMCO) has announced its intention to develop a standard term sheet to assist the shipping industry in the creation of ship financing documentation. The aim of developing this document, as explained by BIMCO, would be to offer lenders and borrowers a co
APM Terminals Wants In on Turkey’s Container Volume Boom
APM Terminals is looking into buying more ports in Turkey, trying to take advantage of the country’s rapid growth in container volumes, Bloomberg reports. Container volumes are reportedly increasing at twice the country’s rate of the gross domestic product. In 2013, Turkey handled 8 million TEUs, wi
Nordic Shipholding’s Results Fall Short of Expectations
The third quarter of 2014 was disappointing for Copenhagen-listed shipowner Nordic Shipholding that posted a loss before tax of USD 4.6 million compared to a larger loss of USD 6.3 million in the same period last year. The smaller loss was due mainly to lower interest expenses of USD 2.6 million (US
Epic Bali Saves Migrants off Italy
Singapore-based gas carrier fleet owner and operator Epic Gas has reported that one of its vessels, Epic Bali, was part of a search and rescue operation in the Mediterranean Sea on November 21. Search and rescue operations involved 5 rescue boats and 4 ships in coordination with the Italian Coast Gu
Port of Hamburg Marks Record Throughput
Germany’s Port of Hamburg has set a record high 110 million tons throughput in the first nine months of 2014, an increase of 5.7 per cent compared to the same period last year. Container handling also achieved a record mark of 7.4 million TEUs (20-ft standard containers), up 6.4 percent compared to
PSA Zeebrugge, Stora Enso Expand Cooperation
Belgium’s PSA Zeebrugge and Stora Enso have extended their cooperation, with PSA’s Zeebrugge International Port (ZIP) Multi-Purpose facilities now being the main hub for Stora Enso’s Short Sea System (4S) of shipping connections with effect from November 15. With the consolidation of more services i
Maritime Traffic Up Fourfold in Two Decades
Maritime traffic on the world’s oceans has increased 300 per cent over the past 20 years, according to a new study by the American Geophysical Union (AGU) aimed at quantifying global ship traffic. The research used satellite data to estimate the number of vessels on the ocean every year between 1992
Clarksons Seals Platou Deal
London-based shipbroker Clarkson PLC has confirmed a GBP 281.2 million (USD 441m) offering for the entire issued share capital of the Norwegian RS Platou ASA. Earlier this month Clarksons announced its interest in the Oslo-based ship- and offshore broking company, but said that whilst discussions re
CMA CGM Splits ASEA Service
CMA CGM Group is dividing its Asia-East Africa (ASEA) service into two distinct services starting December 2014, the world’s third largest shipping company said in a release. ASEA Kenya will provide 4-day reduction in transit times to Kenya on the following rotation: Singapore, Tanjung Pelepas, Port
Asia – North Europe Rates to Stay Unchanged in 2015
Since September the spot market on Asia – North Europe trade routes has tracked a similar course of falling rates to that of last year, and therefore it is difficult to foresee that the westbound Beneficial Cargo Owner (BCO) rate fixtures for 2015 will be any higher than this year, according to Drew