Green Marine
DryShips Pulls Plug on Notes Offering
DryShips Inc., has withdrawn its previously announced public offering of USD 700 million of its senior secured notes, for which the company hoped would help cover the outstanding convertible notes, eliminating the need for a bridge facility. George Economou, the company’s Chairman and Chief Executiv
NGOs Ask for Publicly Available Ship Efficiency Data
Transport & Environment, Seas at Risk and Carbon War Room have urged the United Nations’ International Maritime Organisation (IMO) not to withhold data on ship efficiency and fuel consumption. The call for action follows moves by some industry groups to undermine initiatives at the IMO and EU level
Moody’s Says Shipping Industry Outlook Stable
Moody’s Japan K.K. said its outlook for the global shipping industry is stable, with moderate EBITDA growth expected amid continued vessel oversupply. The outlook was previously changed to stable from negative in April 2014. “We expect mid- to high-single-digit percentage aggregate year-over-year EB
Interview: Offshore Ports – The Way Forward
Thinking outside the box has sprung a myriad of innovations throughout history and it is what is keeping us “alive and ticking”. The maritime industry has had its share of innovative thinking, especially over the recent years with the swooping development of technology. As the shipping industry outg
First Centre Blocks for UK Aircraft Carrier Complete
The U.K.-based Cammell Laird has completed its first centre blocks for a second aircraft carrier set to become the centrepiece of Britain’s military capability. The Birkenhead marine and engineering services company has fabricated and outfitted two blocks for the new Prince of Wales aircraft carrier
GSF Backs Maritime Emissions Monitoring System
The Global Shippers’ Forum (GSF) is calling for shippers’ carbon reporting requirements to be fully considered as the maritime sector develops technical and operational measures to reduce emissions, the organisation said in a release. Ahead of the International Maritime Organisation’s (IMO) Marine E
Gdansk Port Wraps Up Cruise Season
The arrival of m/s Astor on Saturday, October 4, 2014, marked the end of this year’s cruise season in the Port of Gdansk, Poland. From its beginning on May 11, 38 cruiseliners visited the Port of Gdansk, bringing 14,974 cruise passengers. Although the largest of them was the 205 metres long Albatros
VIDEO: Chasing Pirates on Board Mary Maersk
Have you ever seen an anti-piracy action aboard a container ship, if not, now is the right time to take a look at this video. On Sunday, October 5th, during the Mary Maersk’s sailing through the Fehmarn Belt dividing Denmark and Germany, 30 soldiers were suddenly lowered from helicopters to board th
Worldscale Association Sets 2015 Bunker Prices
In anticipation of higher freight costs triggered by more stringent environmental regulations for Emmision Control Areas due in 2015, the Worldscale Association has announced new bunker prices and fixed rate differentials for 2015. As of January 2015 all ships within ECA zones, the Baltic and North
Arctic Economic Council Launched
The founding meeting of the Arctic Economic Council (AEC) was held in Iqaluit, Canada, September 2-3. The new Arctic Economic Council (AEC) is expected to create growth in Arctic areas – with an emphasis on taking the environment and local population into consideration. One of the founding members o
Iraq Blacklists Three Oil Tankers
Three oil tankers, two Suezmaxes and one Panamax, have been banned from loading at Iraqi oil terminals as a reaction to direct exports of crude by the Kurdistan Regional Government (KRG) over the objections of Baghdad, Platts quoted shipping market sources as saying Friday, October 10. “The United C
Fortuna S Sinks in Black Sea
In the morning of Ocober 8, 2014, the “Fortuna S” general cargo ship, en route from Giurgiuleşti and carrying 2,650 tonnes of salt to Syria, ran aground and sank in the Sulina seaway, Romania, the Black Sea. The ship collided with the south pier and suffered extensive water ingress. The helicopter e
Polar Code Will Not Prohibit Access to Arctic Route
Russia and other IMO member states shall not implement measures prohibiting access to the Arctic route to shipping companies, Victor Olersky, Russia’s Deputy Minister of Transport said in a keynote address at the Danish Maritime Forum in Copenhagen, Denmark. Russia is involved together with other IM
Saab to Upgrade Hong Kong Marine Traffic System
Swedish defence and security company Saab has been awarded the contract worth around USD 50 million to completely renew the existing Hong Kong Vessel Traffic Services System by the Government of Hong Kong Special Administrative Region. The Vessel Traffic Services System enables operators of the Hong