Green Marine
MPC Container Ships Eyes Funds for More Boxships
Oslo-based containership owner MPC Container Ships is looking to raise up to USD 200 million through a private placement as it plans further investments in container vessels. The company, which is in the final stages of acquiring a significant number of feeder container ships, said that it has retai
DSME Delivers LNG Carrier Duo for Yamal Project
South Korea’s shipbuilder Daewoo Shipbuilding & Marine Engineering delivered two Arctic LNG carriers, destined to work for the liquefied natural gas production project Yamal LNG, in November 2017. The new gas carriers, named Boris Vilkitsky and Fedor Litke, were ordered as part of a series of 15 LNG
APM Terminals Quetzal Open for Business
Container terminal operator APM Terminals inaugurated its new terminal Quetzal in Guatemala on November 21. APM Terminals Quetzal has a capacity of 340,000 TEUs and is a 85%/15% joint venture between APM Terminals and The IFC – World Bank. The operator has invested USD 180 million in the terminal an
Cyber Liability Hampers Unmanned Ship Implementation
Uncertainty surrounding liability issues relating to unmanned ships and incidents as a result of a cyber-attack are hindering implementation of these vessels. A report by law firm Clyde & Co and the Institute of Marine Engineering, Science & Technology (IMarEST) showed that almost two thirds, 64%, o
DryShips Widens Loss
Greek ship owner DryShips has plunged further into the red as its net and operating losses increased during the three-month period ended September 30. The company’s net loss for the three months reached USD 17.9 million, compared to a net loss of USD 5.2 million reported in the same period in 2016.
Alphaliner: Global Container Volumes Grow by 7.7% in Third Quarter
Port volumes recorded a 7.7% rise in aggregate throughput in the quarter ended September 30, growing at their fastest pace since 2011, according to Alphaliner. Through its survey, which covers more than 200 ports that account for over 75% of global container volumes, Alphaliner saw that the strong t
Hapag-Lloyd Names Its New Neopanamax Boxship
German shipping giant Hapag-Lloyd officially named its Neopanamax containership Santos Express in Brazil on November 21. “On this special occasion, we wish the crew fair seas and a safe return home,” the company said. The 116,000 gross ton Santos Express was delivered to its owner in late April 2017
CargoSmart: Carriers More Reliable in October 2017
Carriers’ overall on-time schedule reliability increased by 3.3%, from 64.3% in September 2017 to 67.6% in October 2017, latest data from intelligence provider CargoSmart shows. Regarding schedule reliability by trade, 10 of the 12 trades increased from September 2017 to October 2017. The Asia-Afric
Liberia Scores a Win for Shipping in Brazilian Court
The Liberian Registry, in co-operation with the International Chamber of Shipping (ICS), has assisted the holder of a Liberian mortgage to overturn a decision of the Brazilian courts. The registry informed that the decision, if left uncontested, “could have had serious adverse legal and economic con
ZIM bringing blockchain technology into shipping
Israeli shipping company Zim Integrated Shipping Services (ZIM) has wrapped up the first pilot of paperless Bills-of-Lading based on blockchain technology. During the trial, conducted in cooperation with Sparx Logistics and Wave Ltd., the participants issued, transferred and received original electr
SeaIntel: Carriers Deliver Marginal Financial Recovery in Q3
Although the third quarter of 2017 financially saw a significant improvement over the same quarter of 2016, the financial recovery is just marginal, according to SeaIntel Maritime Analysis. During the quarter, ten of the eleven carriers that have published their results recorded a positive EBIT/oper
US Navy Ship Scraped in Collision with Japanese Tug
US Navy’s guided-missile destroyer USS Benfold suffered minimal damage after it collided with a tugboat off the coast of Japan, on November 18. The incident occurred while the vessel was taking part in a scheduled towing exercise in Sagami Bay. The tug boat lost propulsion and drifted into the ship.
ICS: Shipping Needs to Be Economically Sustainable
The shipping industry could only be environmentally sustainable if it is economically sustainable as well, the International Chamber of Shipping (ICS) told the OECD Working Party on Shipbuilding in Paris. “The perennial challenge facing shipowners is overcapacity, aided and abetted by government sub
Golden Ocean Returns to Profit
Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) returned to profit in the third quarter of 2017 as dry bulk freight rates continued to improve in the period. The company delivered a net income of USD 0.4 million for the three months ended September 30, compared with a net lo