Green Marine
Ophir Opts for Alternative Financing for Fortuna FLNG
Africa’s first deepwater FLNG project situated in Equatorial Guinea, Fortuna FLNG, has been faced with some financial hurdles. Based on the latest update from its developer Ophir Energy, the talks with a group of Chinese banks on financing the project have taken longer than expected prompting the co
France Turning to LNG as Marine Fuel, Boosting Port Competitiveness
The French state will modify its regulations to facilitate the uptake of liquefied natural gas (LNG) as a marine fuel, the country’s Prime Minister Edouard Philippe said while addressing the present at a maritime conference in the port town of Le Havre. Phillippe said that the government would encou
Euronav Sells Its Oldest VLCC
Antwerp-based tanker owner and operator Euronav has disposed of Artois, the oldest very large crude carrier (VLCC) in its fleet. The 298,330 dwt tanker has been sold for USD 22 million to the US-based company, Ridgebury Tankers, the information provided by VesselsValue indicates. Euronav expects to
Iceland Accedes to Air Pollution Treaty
Iceland has ratified the International Maritime Organization (IMO) treaty covering the prevention of air pollution from ships. Stefán Haukur Jóhannesson, Ambassador of Iceland to the United Kingdom, met IMO Secretary-General Kitack Lim at IMO Headquarters, London, on November 22 to deposit the instr
Indian Captain Lived Alone on Tanker for a Year
An Indian captain was left to his own devices for a year on board an oil tanker Hamed 2, which was abandoned by its owner in the waters of the United Arab Emirates. Nirmal Singh Rawat, 27, revealed in an interview with the GulfNews, that he was left without basic provisions and even drinking water [
MPC Container Ships Collects USD 175 Mn in Fresh Funds
In only 24 hours, Oslo-based containership owner MPC Container Ships raised around USD 175 million through a private placement. The company plans to use the funds “to pursue future investments in container vessels and general corporate purposes.” The private placement of 30.25 million new shares was
Uptake of LNG as Fuel Slower than Expected. Will It Finally Pick Up?
In 2012, DNV GL predicted that by 2020, the LNG-fuelled fleet would comprise around 1,000 vessels. Three years later, this figure was revised downwards to between 400 and 600 vessels, with low oil price and slower than expected development of bunkering infrastructure cited as key reasons. Today, the
Saudi Flag Raised on Bahri’s Fifth VLCC Newbuild
Saudi Arabia’s Public Transport Authority (PTA) has raised the country’s flag on Shaden, a very large crude carrier (VLCC) owned and operated by National Shipping Company of Saudi Arabia (Bahri). At a ceremony held at Port of Ras Tanura on November 23, the new vessel joined the country’s maritime fl
Trump Administration Sanctions 20 North Korean Ships
In a latest wave of measures aimed at disrupting North Korea’s “illicit funding of its unlawful nuclear and ballistic missile programs”, the United States has imposed sanctions on 20 vessels, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said on Tuesday. The sanctions
Paradise Papers: What They Really Mean for Shipping Industry?
The release of the Paradise Papers, a global investigation that revealed the offshore activities of some of the world’s most powerful people and companies, has caused a stir in various sectors, including the shipping industry. The Paradise Papers disclosed offshore interests and activities of more t
StealthGas Offloads Two Oldies
As part of its fleet renewal strategy, LPG shipping company StealthGas has sold two of its oldest vessels, the 1992-built Gas Moxie and the 1996-built Gas Nirvana. Both ships were sold for further trading and at a very good premium above their scrap values, 78% and 220% respectively, Board Chairman
Ship Finance International’s Profit Up in Q3
Bermuda-based shipowner Ship Finance International (SFI) ended the third quarter of this year with a net income of USD 29 million, up from a net income of USD 20 million posted a quarter earlier. Total charter revenues remained flat during the three-month period ended September 30, 2017, and stood a
Petronas, Partners Pen Ship-to-Ship LNG Transfer Deal
Petronas LNG (PLL), a subsidiary of Petronas LNG Sdn. Bhd (PLSB), signed a two-year service agreement with Argo Engineering Sdn Bhd and Eastport Marine Sdn Bhd to provide liquefied natural gas (LNG) ship-to-ship transfer services in Labuan, Malaysia. The ship-to-ship transfer is the transfer of LNG
Spotted: Savannah Welcomes Four Giant Cranes
The Georgia Ports Authority welcomed the arrival of four massive ship-to-shore cranes at the Port of Savannah’s Garden City Terminal on November 22, 2017. The four cranes passed River Street in Savannah on their way to Garden City Terminal, sailing under the Talmadge Bridge. The new cranes, which br