Green Marine
Cosco Shipping Ports’ Earnings, Volumes Up in 3Q
China-based Cosco Shipping Ports Limited delivered improved earnings, accompanied by greater volumes in the third quarter of 2017, driven by the growth of international trade. Amid improvement in international trade, and the support from shipping alliances and shipping fleets of parent company, the
Astomos, Elgas to Study LPG as Ship Bunker Fuel
Japan’s Astomos Energy Corporation and Australian LPG distributor Elgas have agreed to further study the use of liquefied petroleum gas (LPG) as ship bunker fuel. Under a Memorandum of Understanding (MOU), the companies will enhance cooperation across all aspects of LPG bunkering including the shari
Injured Seafarer Evacuated from Bulker off South Africa
South African authorities evacuated an injured crewmember from the bulk carrier Cape Enterprise, operated by Japan’s K Line, on October 26. The 24-year-old crewman was suffering from an injured left thumb and the ship’s Master, in communications with Maritime Rescue Coordination Centre (MRCC) and a
Grimaldi Sells Its Share in Hellenic Seaways
Italian shipping firm Grimaldi Group has reached an agreement to sell its share in Hellenic Seaways to Greece-based ferry services operator Attica Holdings. Under the agreement between the parties, Attica Group will acquire 37,6 million shares in the company from Grimaldi Group’s subsidiary Minoan L
GoodBulk Looking to Buy Up to 13 Capesizes
Owner and operator of dry bulkers GoodBulk Ltd has entered into an agreement to acquire 7 to 13 Capesize dry bulk carriers from entities managed by CarVal Investors. Funds managed by CarVal Investors will receive for the initial 7 vessels up to 10.5 million common shares in GoodBulk, with USD 61 mil
DP World Reveals Plans to Develop Jeddah Port
Dubai-based port and terminal operator DP World has unveiled plans to develop Saudi Arabia’s Jeddah Port in support of the recently launched Saudi Vision 2030. Speaking at the Future Investment Initiative (FII) in Riyadh, Ahmed Bin Sulayem, Group Chairman and CEO of DP World, outlined the significan
One More VLCC Newbuild Joins Bahri
National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Shaden, a very large crude carrier (VLCC), from South Korean Hyundai Samho Heavy Industries (HSHI) shipyard. The 300,000 dwt ship is the fifth VLCC to join the Bahri fleet this year, following the deliveries of Amjad, Maharah, A
Drewry: LNG Fleet’s Operating Losses to Hit USD 230 Mn in 2017
The global LNG shipping fleet will make aggregate operating losses of USD 230 million in 2017 as the spot rates remain under pressure, according to shipping consultancy Drewry. Spot rates (East of Suez) for modern LNG vessels averaged USD 33,000 per day in the nine months to September 2017, represen
GulfNav Profit Drops by 90 Pct in Q3
Dubai-based shipping company Gulf Navigation Holding (GulfNav) ended the third quarter of this year with a profit of AED 12.4 million (USD 3.4 million), a decrease of almost 90 percent when compared to AED 116.8 million (USD 31.8 million) posted in the same quarter last year. What is more, the compa
Wallem to Manage Sanasia’s New PCTC
Hong Kong-based Wallem Ship Management has been appointed to manage Sanasia’s new pure car and truck carrier (PCTC). The vessel is currently under construction at Japanese Imabari shipyard and is scheduled for delivery in December 2018, according to Wallem. Wallem also managed Sanasia’s vessel Golde
Panama Canal Supports Emissions Cuts with New Tool
As part of its Environmental Recognition Program, the Panama Canal has unveiled a new tool to centralize shippers’ emissions data and incentivize the industry to reduce its carbon footprint. The Emissions Calculator will offer shippers the most accurate assessment of their carbon emissions, rank tho
Wison, GTT Team Up on LNG Projects
Wison Offshore & Marine has signed a strategic cooperation agreement with GTT regarding various LNG projects. The project scope includes LNG carriers, LNG Floating Storage Regasification Units (FSRU), Floating LNG (FLNG) units and FLNG units with GTT membrane tanks. “We will be able to offer togethe
UNCTAD: Consolidation in Container Shipping May Lead to Oligopoly
Increased consolidation among carriers driven by a continued oversupply of vessels could bring some order to the market, however, the recent mergers and mega alliances may lead to oligopolistic structures, UNCTAD warned in its latest report on maritime transport. “A slower demand than earlier projec
Crewman with Leg Injury Evacuated from Tanker
A 39-year-old Croatian crewman has been evacuated from the crude oil tanker MV Almi Navigator off Port Elizabeth, South Africa. The ship reported the patient to Maritime Rescue Coordination Centre (MRCC) and after a Government Health EMS duty doctor evaluated the patient in communications with the s