Green Marine
Milaha Sets Up Sri Lanka-Bangladesh Feeder Service
Qatar-based maritime transport and logistics conglomerate Milaha is launching a direct feeder service between Sri Lanka and Bangladesh this month. The new service, called BCX, will be operated via two vessels with a capacity of 1,200 TEUs, following a Colombo-Chittagong-Colombo rotation with a trans
Nautilus: Budget Omission Disappointment for UK Seafarers
The UK could be left dependent on foreign shipping and workforces after further investment or incentives for training schemes aimed at UK seafarers have been omitted in the Autumn Budget 2017, maritime trade union Nautilus International warned. The union has been lobbying the government to double it
CMA CGM’s LNG-Fuelled Behemoths to Fly French Flag
World’s third biggest container shipping major CMA CGM announced plans to register four of its 20,000 TEU + size giants under the French flag. Namely, speaking at a recent Ecole Nationale Supérieure Maritime (ENSM) event, the company’s CEO Rodolphe Saadé said that CMA CGM’s next flagship, featuring
Wallem Takes Supramax Pair Under Its Wing
Hong Kong-based maritime solutions provider Wallem Commercial Services has added two new Supramax vessels to its commercially-managed fleet. “We are delighted to welcome two new vessels to our commercial fleet, bringing the total number of ships under our current commercial management to 20,” Nitin
BW LPG Inks Term Sheet for New USD 150 Mn Loan
Owner and operator of LPG vessels BW LPG is in the documentation stage for the refinancing of its existing USD 150 million unsecured revolving credit facility maturing in March 2018. Namely, the company signed a committed term sheet for the new USD 150 million, five-year senior secured term loan on
FPSO Umuroa Bags One More Contract Extension
BW Offshore has received a one-year contract extension for the lease and operation of the FPSO Umuroa. The FPSO is operating on the Umuroa field offshore New Zealand for Tamarind and had been leased out until the fourth quarter of 2017. The firm period has been extended to the fourth quarter of 2018
Transport Canada Fines Three Ships for Violating Speed Limit
Transport Canada has issued three more CAD 6,000 penalties to vessels for alleged non-compliance with a temporary mandatory ship slow down introduced by the government to prevent whale deaths. Transport Canada has fined multipurpose vessels Azoresborg and Jacqueline C, and the bulker New Shanghai. S
MSC Boxship, Chinese Engineering Ship Collide off China
Panama-flagged containership MSC Luciana collided with the Chinese engineering vessel Su Lian Hai 0118 off the Port Caofeidian in China on November 21, 2017. The engineering vessel sustained severe starboard damage resulting in water ingress and putting its crew of 16 members in danger, as informed
Diana Shipping Remains in Red
Although it remain in the red, Greece-based dry bulk owner Diana Shipping managed to cut its net loss in the third quarter of 2017 ended September 30. The company’s net loss for the three months stood at USD 24.5 million, compared to a net loss of USD 78.3 million seen in the third quarter of [&hell
EU Member States Okay Revised EU Emissions Trading System
The revision of the EU emissions trading system, set to help reduce greenhouse gas emissions, has received an approval from the Member States. The development comes two weeks after the European Parliament, the Council of Ministers and the European Commission reached a provisional deal to revise the
Drewry: Asia-West Africa Trade on Recovery Path
The outlook for the Asia-West Africa trade is improving, but there is much ground still to recover, shipping consultancy Drewry said. Container throughput during the third quarter of this year in the southbound Asia to West Africa trade grew at its fastest rate since the last period of 2014, rising
Weak Tanker Rates Put More Pressure on Frontline
John Fredriksen-controlled tanker owner and operator Frontline ended the third quarter of 2017 in loss due to weak average spot daily time charter equivalent (TCE) earnings. During the period ended September 30, the company reported a net loss of USD 24.1 million, compared to a net income of USD 5.5
Ferguson Marine Splashes New LNG-Fuelled Ferry
UK-based Ferguson Marine Engineering Limited (FMEL) launched the first LNG-fuelled ferry designed and constructed in the UK on November 21. The MV Glen Sannox, which hit the water at the Ferguson shipyard in Port Glasgow, is the first of two vessels ordered by Caledonian Maritime Assets Limited (CMA
Navios Holdings Delivers Loss, Closes USD 305 Mn Offering
Although its revenues increased during the third quarter of 2017, Greek shipping firm Navios Maritime Holdings delivered a slightly widened net loss in the period. The company said that its net loss for the three month-period ended September 30 stood at USD 28.3 million, slightly more compared to a