Green Marine
Image of the Day: Where Does the Sea End and the Sky Begin?
Navion Europa is a 1995-built oil products tanker owned by Navion Offshore Loading AS, and operated by Teekay Shipping Norway AS. She currently operates the waters of the Norwegian Sea, where it serves as a temporary storage vessel for the Statoil’s Heidrun field and the Heidrun Oil Export Solution
TORM Strikes Deal on Restructuring
Copenhagen-based shipping company TORM has today entered into an agreement with a group of its current lenders, representing 61% of TORM’s ship financing, and Oaktree Capital Management (Oaktree) regarding a possible restructuring of TORM. Debt-stricken TORM said that the final terms of the proposed
Ahrenkiel Opts for DNV GL ShipManager Software
Ahrenkiel Steamship has chosen to implement DNV GL’s ShipManager software on its entire fleet of 60 vessels including container ships and bulk carriers, with the installation of the software scheduled to start this year. The shipping group Ahrenkiel Steamship was formed this year after the merger of
Nine Kalmar Electric Cranes for Piraeus Container Terminal
Kalmar, part of Cargotec, has signed a repeat order for nine all-electric rubber-tyred gantry cranes (RTGs) with Piraeus Container Terminal (PCT) S.A. in Greece, a wholly-owned subsidiary of COSCO Pacific Limited. The cranes, four of which are the world’s widest, will help the port meet its twin goa
Euro Banks to Increase Bad Shipping Loan Provisions by Quarter
European banks need to increase their provisions for bad shipping loans by 25%, to EUR 7.3 billion (USD 9.25bn), according to the European Central Bank’s (ECB) year-long examination of the resilience and positions of the 130 largest banks in the Euro area as of 31 December 2013. In the report the EC
Image of the Day: Readying for Touchdown
This amazing photo of Maersk Deliverer, Maersk Drilling’s platform, was photographed from a helicopter in the South Atlantic Ocean. Maersk Drilling is a drilling rig operator based in Copenhagen, Denmark. It is a subsidiary of the A.P. Moller – Maersk Group, established in 1972. Maersk Drilling is o
Port of Rotterdam Marks Slight Increase in Volumes
Over the last three quarters, the port of Rotterdam handled 0.3% more cargo than the same period last year, the port’s latest throughput statistics show. Crude oil (+2%) is slightly up compared to the 2013 level, but mineral oil products (-11%) and other liquid bulk (-9%), mainly feedstocks for the
Fredriksen Zeroes In on Flex LNG
Billionaire John Fredriksen increased his share in Flex LNG to 43.32%, triggering a mandatory offer for all of the shares of the London-based liquefied natural gas carrier. Fredriksen bought additional 12.7 million shares at NOK 7.75 apiece through Geveran Trading Co Ltd. Geveran plans to make a man
Royal Caribbean Expects Record Results in 2015
Early bookings for 2015 are robust and the current order book is better than at the same time last year in both volume and price, Royal Caribbean Cruises said in its third quarter results. Based on this, the company’s current earnings estimates are consistent with Street consensus of USD 4.55 per sh
Construction of Amsterdam Sea Locks Needs Speeding Up
Amsterdam mayor has requested from the City Council to approve EUR 105 million (USD 132 mill) in funding for construction of the new sea lock system at IJmuiden, the Port of Amsterdam informed. The current complex dates back from 1929 and doesn’t meet the technical requirements to accommodate modern
Three Dead in Platform Accident off Azerbaijan
Three workers died, with the fourth still missing, when the structures collapsed at the Socar’s platform No 441 of the Narimanov oil and gas production department (OGPD) in the Caspian Sea offshore Azerbaijan, Socar says in a written statement. Socar goes on to say that ”the structures collapsed dur
Grande Francia Loses Part of Its Cargo in Storm
Italian Ro-Ro cargo vessel Grande Francia lost 10 containers overboard north of the German Bight due to rough weather caused by the hurricane Gonzalo on Oct 22, Hamburg water police informed. The ship was en route from Tilbury UK to Hamburg Germany when it began to roll due to strong winds about 10-
Importance of VDR Data Undermined
Failure to preserve Voyage Data Recorder (VDR) data in the event of an incident can compromise the owner’s position in the event of a claim, according to the London P&I Club. The club said that there have been instances where masters have failed to perform the steps required to preserve VDR data, or
DMA Head Official Candidate for IMO Top Post
The Danish Government confirmed official nomination of Director General of the Danish Maritime Authority Andreas Nordseth as a candidate for the post as Secretary General of the IMO. The post will become vacant on 1 January 2016 as present Secretary General Koji Sekimizu will resign from his positio