Green Marine
Eunavfor Stays in Somalia for Two More Years
The European Council has extended the EU’s counter-piracy Operation Atalanta by two more years, until December 12, 2016. The Operation’s main focus is the protection of World Food Programme vessels delivering humanitarian aid to Somalia; and the deterrence, repression and disruption of piracy off th
OW Bunker’s Board Never Approved Tankoil Loan
The credit line worth up to USD 130 million that was given by Singapore arm of Danish marine fuel distributor OW Bunker, Dynamic Oil Trading, to Tankoil Marine Services, was not authorized by the parent company’s board. According to the company’s Chairman Niels Henrik Jensen, cited by Reuters, “the
Small Island States Still Cut Off from Major Trade Routes
Small island developing states (SIDS) face severe and complex transport challenges, UNCTAD’s Review of Maritime Transport 2014 reports. For UNCTAD, the way forward requires a portfolio of measures spanning a range of areas, including trade logistics, climate change and resilience-building, energy, a
Westminster Group Clinches West Africa Ferry Deal
The U.K.-headquartered Westminster Group Plc. has through its Managed Services division secured a 21 year agreement with a government in West Africa for the complete management and operation of a number of recently constructed ferry terminals together with the provision of a new sea ferry transfer s
Exmar Shelves IPO
Antwerp-based LNG and LPG carrier owner and operator Exmar has decided to delay the launch of the contemplated initial public offering of common units in the United States of Exmar Energy Partners LP (the MLP), citing unfavorable current capital market conditions as the reason. Exmar says it will co
Carnival Cuts CO2 Emissions Ahead of Schedule
Cruise giant Carnival Corporation & plc has met its corporate goal to reduce its rate of CO2 emissions from shipboard operations by 20 percent – a year ahead of its initial plan, according to the company’s 2013 Sustainability Report. To meet its corporate CO2 sustainability goal, Carnival Corporatio
Tanker Market Flourishing, Dry Bulk Mostly Down
The Drewry All Earnings Index, which covers the main bulk shipping markets, jumped 53% in October to stand at 200 points on account of large gains for tanker owners, according to the Shipping Insight report published by shipping consultancy Drewry. Suezmax tankers registered a remarkable 400% gain o
ESC: Shipping Alliances Need a Watchdog
The European Shippers’ Council (ESC) says that shipping industry needs a global authority to keep Vessel Sharing Alliances (VSA) in check, as they are a risky development for the free market for transportation of goods over sea. According to the ESC, the global market will be in the hands of four ma
Mexico Nods to Hapag-CSAV Merger
Mexican competition authority has given unconditional clearance under Mexican merger regulations for the planned integration of the container shipping activities of Compania Sud Americana de Vapores (CSAV) into Hapag-Lloyd. Hapag-Lloyd and CSAV signed a binding business combination agreement in Apri
Navios Acquisition Sells Four VLCCs
Navios Maritime Acquisition Corporation has sold four Very Large Crude Carriers (VLCC) to Navios Midstream for USD 379.4 million, which will go towards reducing the company’s bank debt and fleet replenishment, the Monaco-based tanker operator said. Navios Acquisition contributed and/or sold to Navio
China and India to Account for 35Pct of Oil Trade
China and India will account for about 35% of global oil trade in the next ten to fifteen years, despite China’s commitment to increasing the use of clean power and renewable energy, according to Harald Lone, Chairman and Chief Executive Officer of Newport Shipping Group. The forecast was made durin
Corvus Energy Takes On First LNG Hybrid Ferry
Corvus Energy and Siemens AS have been awarded the contract for the Fannefjord LNG hybrid ferry operated by Fjord1. The refitted Fannefjord will use a 1050V, 410kWh Energy Storage System (ESS) consisting of 63 Corvus Energy AT6500 lithium polymer batteries. The ESS will be integrated with the existi
Stena Line to Cut 350 More Jobs
Sweden’s largest ferry operator Stena Line is continuing with job cuts to meet the company’s goal of improving the financial results by USD 176 million until 2016, Jesper Waltersson, Head of Corporate Communications at Stena Line told World Maritime News. Walterson said that Stena Line is aware of r
Image of the Day: Bustling with Activity
This impressive photo presents you with a major Italian seaport on the Mediterranean Sea, Port of Genoa, photographed from the air. Port of Genoa covers an area of about 700 hectares of land and 500 hectares on water, stretching for over 22 kilometres along the coastline, with 47 km of maritime ways