Green Marine
Bore Clears General Cargo Fleet
Bore Ltd plans to exit the general cargo CoA (contract of affreightment) business by the end of 2014, due to several years of overcapacity in the market and unsustainably poor profitability of the company’s small CoA fleet, which proved to be uncompetitive against larger players in the tough general
Craig Group’s Two ERRVs Hit the Water
Two new D-class IMT 950 Emergency Response and Rescue Vessels (ERRVs) have been launched at the Balenciaga Shipyard in Northern Spain. The vessels, named the Grampian Dynamic and the Grampian Dynasty, are being built as part of a £70 million investment plan for North Star Shipping which will see a t
Samsung Heavy Bags USD 440 Mln Order
South Korean shipbuilding giant Samsung Heavy Industries (SHI) has won an order amounting to USD 440 million for three Arctic Shuttle Tankers from a European shipper. The client behind the order is Russia’s Sovcomflot, Yonhap new agency reports referring to a confirmation from the shipbuilder. The n
Freight Rates About to Plunge Again
Freight rates are likely to fall further as carriers stand firm in their reluctance to reduce capacity on the Asia-Europe and transpacific trades in the winter slack season, Alphaliner warned. The overcapacity-plagued market coupled with upcoming delivery of newbuilds are expected to exert further p
US Coal Exports Drop
U.S. coal exports have continued to decline from their record volumes in 2012. During the first half of 2014, coal exports totaled 52.3 million short tons (MMst), 16% below the same period in 2013, U.S. Energy Information Administration (EIA) said. Most of these exports go to countries in Europe and
New Seafloor Map Reveals Mysteries of the Deep
Accessing two previously untapped streams of satellite data, scientists at Scripps Institution of Oceanography at UC San Diego and their colleagues have created a new map of the world’s seafloor, creating a much more vivid picture of the structures that make up the deepest, least-explored parts of t
TEN Extends Charters
Tsakos Energy Navigation Ltd. (TEN), a Greek crude, product and LNG tanker operator, has confirmed charter extension for three product tankers, including two Panamaxes and one MR, for two and three years respectively to an unnamed South American oil major. The company projects these contracts to bri
French Frigate Extensively Damaged by Violent Fire
A French Navy frigate had to be towed to naval base in Pointe De La Galets, La Reunion having been disabled after a severe engine fire that broke out on September 30th. The frigate Nivôse was steaming her way toward Mauritius in the Indian Ocean when the fire started. Fortunately, the frigate’s sist
Unifeeder Bolsters Schedule
From October 2014, North European short sea operator Unifeeder plans to significantly upgrade its scheduled routes connecting the European peninsula with Russia, Finland and the Baltic States. These relate to: Five weekly sailings, of which four are direct between Hamburg and St. Petersburg Two week
ECSA, ETF Tackling EU Labour Law Loopholes
European Community Shipowners’ Association (ECSA) and European Transport Workers’ Federation (ETF) have reached an Agreement on the issue of the exclusion of seafarers, in the form of a package deal covering all Directives. Although EU labour law generally applies to all workers in all sectors, unti
Maersk Line Named Sustainable Ship Operator of the Year
Danish-based container shipping line Maersk Line has been named Sustainable Ship Operator of the Year at the inaugural Ship Efficiency Awards 2014. The award, which was announced at a ceremony in London on October 2, 2014, celebrates the shipping line that demonstrates an industry-leading commitment
DP World London Chooses CUF Operator
DP World London Gateway has chosen Import Services Ltd. to be operator and manager of the Common User Facility (CUF) now being built at London Gateway Logistics Park. The steelwork for the first phase of the 386,000 sq ft multi-purpose cargo handling centre is nearly complete and the development is
Overall Annual Shipping Costs Slightly Down
Total annual operating costs in the shipping industry fell by an average of 0.3 per cent in 2013, according to the press release issued by the international accountant and shipping consultant company Moore Stephens. This compares with the 1.8 per cent average fall in costs recorded for 2012. Crew co
Excessive Port Charges Threat to UK Shipowners
A system must be found to mediate disputes between shipping companies and port operators over the cost of doing business, UK Chamber of Shipping CEO Guy Platten said in a speech to the British Ports Association annual conference in Belfast. “Shipowners, just like commercial ports, are in business to