Green Marine
Hamburg Port Pioneers Onshore Power Supply for Cruise Ships
Hamburg Port Authority (HPA) has commissioned Siemens as a general contractor to supply a turnkey onshore power supply system to cut the combustion of marine fuel to supply the required electricity to all onboard systems when cruise ships are in port, which is a major contributor to local air pollut
Dry Bulk Shipping Earnings Set for Comeback
Despite weak freight rates so far this year, dry bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities rises, according to the Dry Bulk Forecaster report published by shipping consultancy Drewry. Freight rates have been depressed due to a continuing overs
Skangass Cleared for New LNG Terminal
The Swedish Government has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden, the company said. Skangass aims at starting the construction work during 2015. The permission is given for a storing capacity of 30 000 m3 L
Atlantic Handysize Dry Market Taking an Upward Curve
Front-haul rates for handysize fleet are increasing in the US Gulf as more grain stems come onto the market and the tonnage list is thin, Platts writes citing unnamed shipping sources. A 58,000 dwt vessel can now expect to achieve $20,000/d to take grain stems from the US Gulf Coast to China with Se
DP World’s Newly Added Capacity Bearing Fruit
Global marine terminal operator DP World has recorded strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering profit attributable to owners of the company before separately disclosed items of $332 million, 40.8% ahead of the first half of
Drillers to Favor Buying over Building?
The cyclical downturn in the offshore oil and gas-drilling market may provide an opportunity for drillers with financial flexibility to buy high-yield peers at favorable prices, rating agency Fitch Ratings said. In this environment, master limited partnerships (MLPs) may provide additional financial
Deadliest Week in Mediterranean
More than 300 people died while trying to make irregular sea crossings from North Africa to Europe in the past week, bringing the death toll this year from sinking vesels on the Mediterranean to almost 1,900, including some 1,600 since June, according to UNHCR. “The past few days have been the deadl
Mojo Maritime’s HF4 Stands Firm in Worst Case Scenarios
Mojo Maritime’s HF4 has demonstrated stunning DP (Dynamic Positioning) performance and manoeuvring characteristics based on results of simulations recently undertaken, the company said in a release. Mojo Maritime has concluded the design of the advanced DP system in collaboration with GE and Voith T
KKR, Borealis Hustle Nine Container Ships
The joint venture between KKR Special Situations Group of Kohlberg Kravis Roberts & Co. L.P. (USA) and Borealis Maritime Ltd. (UK) has signed an agreement with Frankfurt-based Commerzbank to buy nine container vessels financed by the bank. USD 216 million proceeds will be used for the redemption of
VIDEO: Aasta Hansteen Breaks Ground
Aasta Hansteen and Polarled are moving the boundaries for technology, deep waters and ripple effects on the Norwegian continental shelf (NCS). “Aasta Hansteen is one of the biggest and most complex industrial projects in Europe. With the Polarled pipeline, the Norwegian gas infrastructure is taken n
Soaring Container Volumes at Ports of Stockholm
Following the record 37 percent increase last year, container freight is continuing to climb steeply at the Swedish Ports of Stokholm, according to the latest figures. “Customers want their goods to be transported by sea, directly to the growing Stockholm region,” Ports of Stokholm said in a release
Container Carriers Bringing Down Carbon Emission
BSR’s Clean Cargo Working Group (CCWG) said in its latest annual CO2 emission performance data for the container shipping industry that on an average, its member carriers have reduced CO2 emissions per container transported in 2013 by 7.7%. 7.7% reduction of CO2 emissions per container in 2013 Cle
DNV GL Showcases Interactive Arctic Risk Map
DNV GL has developed an interactive Arctic Risk Map to present the risks associated with offshore and maritime activities in the Arctic. The map aims to provide the industry with a comprehensive tool for decision-making and transparent communications. “The Arctic is not a monolithic area and the ris
UK Warship Seizes 600 Kilo Cocaine Haul
A UK Royal Navy’s warship HMS Argyll has seized nearly 600 kilos of cocaine with a street value of nearly USD 35 million after a 12-hour pursuit across the Caribbean. After receiving information that a suspicious-looking vessel had been spotted by a maritime patrol aircraft, HMS Argyll, which is on