Green Marine
Rodolphe Saadé Takes Chairmanship at CMA CGM
French shipping major CMA CGM has made a new step in group governance as it appointed Rodolphe Saadé to the position of Chairman of the Board and Chief Executive Officer of the company. CMA CGM’s Board of Directors met on November 24 to decide the change in governance of the group. In accordance wit
Diana Shipping’s Capesize Scores Higher Rate
Greek dry bulk owner Diana Shipping has entered into a time charter contract with Geneva’s SwissMarine Services for one of its Capesize dry bulk vessels. M/V Norfolk was hired at a gross charter rate of USD 13,250 per day, minus a 5% commission paid to third parties. The 164,218 dwt vessel will work
Wärtsilä Unveils Smart Marine Ecosystem Vision
Finnish technology group Wärtsilä has introduced its Smart Marine Ecosystem vision in an effort to organize developments taking place in the shipping industry through the use of high levels of connectivity and digitalisation. “The world is moving towards a future that is more and more connected, and
MPC Container Ships to Buy Feeder Fleet for USD 130 Mn
Oslo-based boxship owner MPC Container Ships entered into a commitment to acquire a fleet of feeder container vessels on November 24. The vessels in question have a total purchase price of USD 130 million. The move was made only a day after the company closed its private placement raising a total of
Arzana, the First Custom-Built TSHD for Gulf Area
It was a happy occasion, last September 20 at Royal IHC’s shipyard in Kinderdijk, the Netherlands. An international crowd had gathered to see the launch ceremony of Arzana, the 6,000 cubic metre trailing suction hopper dredger for National Marine Dredging Company (NMDC) from Abu Dhabi. Flowers adorn
Canada Sends Its First LNG to China in Container
Canada has sent its first shipment of liquefied natural gas (LNG) to China by a containership as part of a pilot project to determine long-term feasibility. LNG was supplied by FortisBC’s Tilbury facility in Delta, logistics and equipment were provided by True North Energy Corporation and CIMC ENRIC
Hoegh LNG Pulls the Plug on FSRU Charter Deal with GEI
Owner and operator of floating LNG import terminals Höegh LNG Holdings has terminated the 20-year charter contract for a floating storage and regasification unit (FSRU) with Global Energy Infrastructure Limited (GEI). The FSRU charter agreement signed on December 15, 2016 was intended for the FSRU #
COSCO Shipping Closes Another Dormant Business
COSCO Shipping International (Singapore) has decided to formally dismiss its dormant subsidiary, Cos Knight Shipping. As informed, a resolution for the dissolution of the company incorporated in the Republic of Panama was presented to the business registry of Panama and Cos Knight Shipping has been
DHT Holding Disposes of Oldest VLCC Trio
Crude oil tanker company DHT Holdings has joined its counterparts in the shedding of outdated tonnage as part of its fleet renewal strategy. The company said that it has inked a deal with an undisclosed single buyer to sell its three oldest very large crude carriers; DHT Utah and DHT Utik, both buil
Ferry Crashes into Port Building, 181 Passengers Evacuated
The Indonesian-flagged Jetliner ferry carrying 181 passengers on board smashed into a port office building while approaching Kendari port, southeast Sulawesi island, Indonesia, on November 23. The ferry suddenly lost steering control causing it to crash into the building at high speed, the Indonesia
Antwerp Port Authority, FPIM Buy Stake in NxtPort
The Antwerp Port Authority and Belgian Federal Participation & Investment Company (FPIM) are to jointly acquire a stake in NxtPort, a digital data platform for the port community. As informed, the contribution by the new partners – Antwerp Port Authority 75%, FPIM 25% – takes the form of capital plu
ZIM Cautiously Optimistic as It Sails Back to Black in Q3
Israeli container shipping company ZIM reaped the fruits of the market recovery and returned to the black in the third quarter of 2017 posting a net profit of USD 25.2 million. The profit was reported against a loss of USD 37.6 million booked in the corresponding quarter of 2016. “The industry is st
IMO: Canada Provides Financial Support for Polar Code
The Government of Canada has provided a financial contribution of CAD 500,000 (around USD 393,000) in an effort to support the Polar Code and sustainable development goals, the International Maritime Organization (IMO) said. Kitack Lim, IMO Secretary-General and Janice Charette, Canada’s High Commis
Gallery: Ship Suffering Engine Failure Rescued off Scotland
A general cargo vessel broke down half a mile offshore in Sinclair’s Bay, Scotland, in the morning hours of November 22 and was towed to safety later that day, Wick RNLI informed. Shetland Coast Guard tasked Wick Royal National Lifeboat Institution (RNLI) to go to the aid of the 4,258 dwt ship Jomi.