Two recent onboard containership fires have fueled concerns from International Union of Marine Insurance (IUMI) over the challenges involved with managing these incidents at sea as seafarers are being asked to tackle onboard fires with inadequate equipment. The two recent containership fires which r
Singapore-listed containership owner and operator Rickmers Maritime Trust (RMT) has become the latest casualty in a growing list of boxship owners with toxic vessel assets that are unable to generate sufficient funds to pay their outstanding debt obligations, according to Alphaliner. While numerous
Port developer and operator Abu Dhabi Ports recorded a 77% increase in net profit in the first half of 2016 compared to the same period a year earlier, spurred on by the rise in general and bulk cargo, container, and Roll-on/Roll-off (RoRo) volumes. Abu Dhabi Ports reported a 20% revenue growth whil
The Association of Bulk Terminal Operators has warned that cargo liquefaction, an issue commonly associated with the seaborne transportation of unprocessed mineral ores and concentrates, is also an issue which bulk terminals need to pay attention to. Speaking at the ICHCA ISP76 panel meeting in Lond
Eight people were injured after a fire erupted at Saudi Arabian Oil Company’s (Saudi Aramco) oil terminal facility in Ras Tanura in the Arabian Gulf in the morning hours of Tuesday, September 20. Saudi Aramco says that the incident was ”minor” and that the company has ”successfully responded” to it
Tonnage provision and forecast cargo share for the specialised reefer ships will continue to reduce in coming years, but these ships will keep carrying a disproportionate share of the reefer cargo, according to shipping consultancy Drewry. Specialised reefers last year provided just 5% of the world’
US-based Excelerate Energy’s floating storage and regasification unit (FSRU) Explorer conducted the first commercial gas-up operation at Dubai Supply Authority’s (DUSUP) Jebel Ali LNG Import Terminal on August 31. The FSRU gassed-up all five tanks of a 173,000 m3 LNG Carrier, in a 17-hour period. Th
Not enough companies in the shipping industry are following joined-up risk management procedures, according to international accountant and shipping adviser Moore Stephens. The second annual Moore Stephens Shipping Risk Survey revealed a fall in the overall level of satisfaction on the part of respo
Despite many adversities for the maritime sector over the last year, seaborne perishable reefer trade increased in 2015 and is forecast to grow further still in 2016. By 2020, seaborne reefer cargo will reach 120 million tonnes, increasing by an average of 2.5% per annum, according to global shippin
Container throughput at the Omani Port of Salalah, part of the APM Terminals Global Terminal Network, reached 1.584 million TEU in the first half of 2016, representing a 29% increase over volume handled during the same period a year earlier. The surge was mainly attributed to an increase in capacity
Global container terminal operators have taken their foot off the pedal when it comes to greenfield projects, carriers especially so, and are instead looking for growth, risk mitigation and opportunities through M&A activity, according to shipping consultancy Drewry. The change of gear and strategie
As the International Maritime Organization’s Ballast Water Management Convention is set to enter into force in September 2017, the International Chamber of Shipping (ICS) has urged IMO Member States to finalize the revision of the G8 Type Approval Guidelines for treatment systems. “We must ensure th
With Finland’s accession of the International Ballast Water Management Convention, the International Maritime Organization (IMO) said that the remaining condition for entry into force has been met and therefore the BWM Convention is scheduled to enter into force on September 8, 2017. IMO has approve
Dubai-based owner and operator Gulf Navigation Holding PJSC (Gulfnav) has signed a new settlement agreement with tanker owner Nordic American Tankers (NAT), thereby fully settling the long standing debt that GulfNav owed to NAT. GulfNav said that it is also in negotiations with its other major credi
