Green Marine
Platts: Freight Rates Pressured by Falling Bunker Fuel Prices
Falling bunker fuel prices are putting downward pressure on freight rates for dry bulk and tanker vessels operating in Northwest Europe, Platts quoted market sources as saying. As bunker prices account for 70% of the cost of operating a dry bulk vessel, any significant changes in fuel prices will ha
Stena Linking Stockholm to Liepaja
Sweden’s ferry operator Stena Line is increasing its share in Scandinavian market freight volumes by expanding its services from the Port of Nynäshamn with a new destination, Liepaja in Latvia. “It is really pleasing that Stena Line wants to grow with us. This will be the twelfth destination possibl
Sweden Gets New LNG Terminal
Swedish liquefied natural gas provider Skangass has officially opened their new receiving terminal for LNG in Lysekil, Sweden, making natural gas available for the land based industry and the marine market in the area. The terminal was built as a joint project with Skangass’ major customer Preem. Sk
LNG Bunkering under Spotlight in Singapore
LNG bunkering was a hot topic for the Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge that participated in an LNG bunkering focus group discussion on 14 and 17 October, held in conjunction with the Singapore International Bunkering Conf
Suez Canal Expansion Contracts Awarded
Egypt’s Prime Minister Ibrahim Mahlab and the Chairman of the Suez Canal Authority, Mohab Mohamed Hussein Mameesh, signed a contract with six companies in Cairo on October 18th for the deepening and widening of the Suez Canal, a vital shipping link between Europe and Asia. A consortium consisting of
Contracting in the Offshore Industry – Recent Developments
On the 28th of October 2014, the Dutch Offshore Academy is organizing the seminar ‘Contracting in the Offshore Industry – recent developments’. This seminar will take place during the Offshore Energy Exhibition in Amsterdam RAI. This seminar is organized with the corporation of IABLLC, Margetson Van
Hamburg’s LNG Hybrid Barge Christened
The LNG Hybrid Barge, Becker Marine Systems’ floating liquefied gas power plant was christened at Hafencity, Hamburg on Saturday. The LNG Hybrid Barge, which will be supplying supplying power to cruise ships lying at port, was christened the HUMMEL (“Bumblebee”) at Grasbrook Kai near the Hamburg Cru
Cyprus, Denmark to Run for IMO Top Post
Cyprus and Denmark revealed their intentions to run for the top position of the International Maritime Organization (IMO) which is to be decided in June 2015. Namely, current Secretary General Mr. Koji Sekimizu of Japan announced in September that he will be stepping down next year. Cyprus Ministry
Euronav Going Strong
VLCC earnings are up 80% for the third quarter compared with the third quarter last year, Antwerp-based tanker company Euronav said in its third quarter results for 2014. The company said that the outlook for the seasonally stronger fourth quarter is looking stronger than in the last four years as “
Europe’s Major Ports Opposing Mediterranean Switch
Europe’s major port operators have shot down the latest EU proposal to shift investments to peripheral ports in the Mediterranean, saying that the allocation of EUR 12 billion (USD 15.3bn) funds should not be motivated by geopolitics and cohesion policies. European Observation Network for Territoria
ICS: Ballast Water Management Talks on the Right Track
Governments attending the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC) this week have made real progress towards agreeing solutions to major issues that have previously impeded ratification of the IMO Ballast Water Management Convention, says the Internati
UPDATE: Eimskip Wants RUV Leak Investigated
Icelandic shipping company Eimskip said it had advised its attorneys to prepare a report to the police and request investigation of alleged leak of confidential information to Icelandic TV station RÚV. “Eimskip is astonished by the coverage of RÚV in this context. Listed companies must follow laws a
TEN Positive About Tanker Market Conditions
Tsakos Energy Navigation (TEN), an Athens-based crude, product and LNG tanker operator believes that the recent decline in TEN’s stock is in direct contrast to the state of the physical tanker market, the future prospects and the financial strength of the company. Management believes that the supply
Royal Caribbean Facing Major Fine
The Netherlands has fined Royal Caribbean cruise line for violation of labour rules and regulations for foreign workers. The cruise liner, owner of the world’s biggest cruise ship Oasis of the Seas, will have to pay at least €600,000 (USD 767,000) in fines for not having adequate residence papers fo