Green Marine
Teekay Tankers Sells Aframax Duo, Posts Net Loss in Q3
Teekay Tankers has disposed of two 1999-built Aframax tankers since August 2017 collecting aggregate proceeds of approximately USD 12.7 million. One Aframax tanker was delivered in September 2017 and the other is scheduled to be delivered in the second half of November 2017 to an undisclosed owner,
Odfjell Deeper in Loss
As the challenging market for chemical tankers persisted, Norwegian shipping and tank terminal company Odfjell widened its net loss to USD 11 million in the third quarter of this year from a loss of USD 5 million seen a quarter earlier. The results were also impacted by the market for terminals whic
EU Parliament, Council Reach Deal on EU ETS
The European Parliament and Council have today reached a provisional agreement to revise the EU Emissions Trading System (EU ETS) for the period after 2020. This revision is expected to help the EU to achieve a significant part of its commitment under the Paris Agreement to reduce greenhouse gas emi
Restructuring Affects Wilhelmsen’s Earnings
Norway-based maritime firm Wilh. Wilhelmsen Holding informed that its total income and net profit for the third quarter of 2017 were affected by mixed operating results and restructuring. The group delivered a total income of USD 104 million in the quarter ended September 30, including a USD 40 mill
Safe Bulkers Picks Erma First BWTS for Its Fleet
Monaco-based dry bulk shipping company Safe Bulkers has agreed with Erma First, a Greece based company, to install a Ballast Water Treatment System (BWTS) across its fleet of 38 vessels. The first installation of Erma First BWTS is expected to take place during the company’s next dry-docking schedul
MAIB: Poor Stevedoring Practices Led to Fatal Bulker Accident
Poor stevedoring practices probably contributed to an accident, which took the life of one seafarer, after an unsecured cargo stack collapsed from the bulk carrier Graig Rotterdam in December 2016, UK’s Marine Accident Investigation Branch (MAIB) said. The accident occurred on December 18, while the
Proposed Shipping Taxes to Weaken Swedish Maritime Competitiveness?
Further increases in shipping charges in Sweden will deteriorate the competitiveness of the country’s maritime industry, according to the Swedish Shipowners’ Association. Swedish Maritime Administration raised shipping charges by SEK 100 million (USD 11.9 million) on January 1, 2017. For the coming
Yemen’s Port of Aden Exempt from Port Closure
The Port of Aden has been excluded from the temporary closure of all sea, air and land ports in Yemen imposed earlier this week by the Saudi Arabia-led coalition. The decision was attributed to the fact that the port falls under the direct management of the Yemeni government and direct control of th
Shell, Anthony Veder to Convert Coral Methane to LNG Bunker Vessel
Oil and gas company Shell and gas carrier owner Anthony Veder have signed a deal to modify the LNG carrier Coral Methane into an LNG bunker vessel. As informed, the modification marks the first of its kind and will entail integration of specific LNG bunker equipment into the vessel. The 7,500 cbm ve
Tanker Investments Plunges Further into Red
Challenging market conditions plagued by the oversupply of vessels have pushed tanker owner and operator Tanker Investments Ltd (TIL) further into the red in the third quarter of the year. Namely, TIL reported a net loss of USD 9.4 million for Q3, widening its loss from the corresponding quarter a y
Drewry: Chemical Tankers Expect Recovery from Late 2018
Chemical shipping market is heading toward a recovery phase, which would be supported by subdued ordering and a narrowing in the tonnage supply-demand gap from late 2018, shipping consultancy Drewry informed. Tonne-mile demand of chemical commodities is set to grow at 3.8% on a year-on-year basis in
Two Injured in Fire on Shell Enchilada Platform
Two people were injured in a fire that erupted on Shell Enchilada oil platform in the Gulf of Mexico, Wednesday, November 8, the United States Coast Guard (USCG) informed. A 54-year-old male suffered from flash burns and a concussion, and a 29-year-old male suffered from a sprained wrist and a concu
China Approves Maersk Line’s Acquisition of Hamburg Süd
The Ministry of Commerce (MOFCOM) in China approved Danish shipping giant Maersk Line’s proposed acquisition of Hamburg Süd on November 8. The move comes only a day after the shipping company informed that only three more approvals remained to be secured as Maersk Line earlier received clearance for
Shell to Fuel Carnival Cruise Line’s LNG-Powered Ships
Oil and gas firm Shell has signed an agreement to supply with liquefied natural gas (LNG) to Miami-based Carnival Cruise Line for North America’s first fully LNG-powered cruise ships. Under this framework agreement, Shell will fuel Carnival Cruise Line’s two new ships, which are expected to launch i