Green Marine
Maersk, MSC Call US Regulator to Approve 2M
Senior executives representing shipping giants Mediterranean Shipping Company (MSC) and Maersk Line are in Washington to clear any doubts the US Federal Maritime Commission (FMC) might have on giving the green light to the recently-announced 2M vessel-sharing agreement between the two companies. The
Odfjell Gas Inks Pool Deal with Lauritzen Kosan
Odfjell Gas AS, an LPG/ethylene joint venture between Odfjell SE and affiliates of Breakwater Capital and Oak Hill Advisors, has entered into an agreement with Lauritzen Kosan AS, placing its existing two LPG/Ethylene carriers, Bow Guardian and Bow Gallant, on commercial management with similar size
Finland Proposes Reduction of Fairway Dues
The Government of Finland has proposed temporary acts for reducing fairway dues and removing the track tax. The changes will be included in the 2015 budget proposal, a governmental press release read. According to the statement, fairway dues will be halved for the period 2015-2017. During the same p
Things to Know when Navigating in Sea Ice
There are many sea ice properties that can affect an offshore vessel’s navigation performance in sea ice. The most obvious is the thickness of the ice but other properties, such as hardness, are also important. In the following excerpt taken from OCIMF latest report on Offshore Vessel Operations in
Image of the Day: Blending with the Sea
The image shows Princess Cruises’ MS Royal Princess steaming her way to the next adventure as the sunset-lit sky embraces the sea. The ship was built in 2013 by Fincantieri at their shipyard in Monfalcone, Italy. [mappress] World Maritime News Staff, September 18, 2014; Image: Princess Cruises F
How Will Scottish Independence Impact Maritime Industry?
The long-awaited vote on the Scottish independence taking place today has seen international maritime players raise concern on the possible effects of the vote on the Scottish maritime industry. According to Moore Stephens’s recently conducted survey of the international shipping community members o
PIRA Issues Weekly Energy Recap
A weekly Energy Market Recap by NYC-based PIRA Energy Group reports that Asian oil balances will for now remain long, with the U.S., product stock build outpacing crude draw, thus widening commercial stock excess; and Japan’s both crude and finished product stocks rising. Oil prices in Asia are like
Global Tanker Fleet Shying Away from ECDIS
The majority of ships in the global tanker fleet have yet to adopt ECDIS, according to data published for the first time by the United Kingdom Hydrographic Office (UKHO). The SOLAS regulations on the mandatory carriage of ECDIS will come into force from July 1, 2015 for all tankers over 3,000 gross
Infograph: Tanker Sizes 101
The global crude oil and refined product tanker fleet uses a classification system to standardize contract terms, establish shipping costs, and determine the ability of ships to travel into ports or through certain straits and channels, T. Mason Hamilton of U.S. Energy Information Association explai
Arctic Ice Dwindling, Antarctica Levels Reach 30-Year Highs
The area of sea ice in the Arctic fell to a summer minimum of around 5.0 million square kilometres this year, which is about 1.6 million square kilometres more than the record low in 2012. However, according to sea ice physicist Marcel Nicolaus from the Alfred Wegener Institute (AWI) and Lars Kalesc
DFDS Closing Loss-Making Route
Danish-based DFDS has started consultations with French unions about plans to close the Le Havre-Portsmouth route at the end of 2014, DFDS said on Monday, attributing the decision to continued losses. The route is part of DFDS’ business unit France & Mediterranean.The route carried 185,000 passenger
Jaccar, Hartmann Team Up on Ethane Business
Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, have announced the establishment of a joint venture for the commercial management of ethane carriers. The new company, United Ethane Carriers (UEC), will be based in Singapore. As explained by Hartmann in a press release, its purpose
Global Ports Streamlining to Profit
Strong interim results for the period ending June 30, 2014 posted by Global Ports Investments PLC are believed to be the result of improved efficiency of the enlarged operation following the acquisition of NCC Group at the end of 2013. The company believes that the benefits of this, together with th
Maersk Raises USD 1.25 Bln in Bond Offering
Danish shipping giant Maersk has raised USD 1.25 billion in two bond offerings. The net proceeds will be used for general corporate purposes, as explained by the company. This is the first ever USD bond offering for the shipping line, underwritten by Bank of America Merrill Lynch, Barclays, Citigrou