Green Marine
Clarksons: Global Seaborne Trade to Grow by Up to 4 Pct in 2017
Following a weaker performance in 2015, global seaborne trade growth illustrated its ability to bounce back strongly, and is now expected to reach close to 4% in full year 2017. According to Clarksons Research, aggregate world seaborne trade is projected to grow by 3.9% in full year 2017, on the bac
Moody’s Sets CMA CGM’s Outlook at Positive
The corporate family rating of French shipping major CMA CGM has been affirmed at B1, the probability of default rating at B1-PD and the rating of CMA CGM’s senior unsecured notes at B3, Moody’s rating agency said. Moody’s further assigned a B3 instrument rating to the proposed EUR 300 million senio
Coralius
On May 22, the naming ceremony of MV Coralius was performed by Johanna Lamminen, Chair of the Board of Skangas and Chief Executive Officer of Gasum. Being the first European built LNG bunker and distribution vessel, Coralius was commissioned for build at Bodewes Shipyards by Sirius Veder Gas AB. The
Readers’ Picks of the Week (October 09-13, 2017)
Readers’ Picks of the Week (October 09-13, 2017)
HMM Eyes USD 614 Mn from Share Sale
Hyundai Merchant Marine (HMM) is targeting to raise KRW 693.6 billion (USD 614 million) from a sale of shares, the company said in a regulatory filing on Friday. The sale would be split in two, an offering of KRW 400 billion and KRW 293.6 billion. The company plans to invest the proceeds from the sa
Eleven Missing after Bulker Sinks off Philippines
Eleven crew members are missing after the 57,367 dwt bulk carrier Emerald Star sank in the morning hours of October 13, a report released by Japan’s coast guard shows. The 2010-built ship was sailing some 280 km east of the northern tip of the Philippines when it sent out a distress signal due to ro
Varun’s Ships Banned from UAE Ports
All ships belonging to Varun Resources Limited have been banned from calling the United Arab Emirates (UAE) ports, the country’s transport authority said. India-based LPG shipowning company is a repeat offender when it comes to seafarer abandonment cases in UAE ports and waters. The latest instance
First Attempt to Refloat Kea Trader Fails
The first attempt to refloat the grounded containership Kea Trader earlier this week failed, according to data provided by New Caledonia’s government. On October 9, the officials informed that the salvage company Ardent attempted to move the 2017-built boxship from its resting place on a reef off Ne
HMM CEO: Financial Burden from Upcoming Regulations Imminent
The forthcoming environmental regulations are likely to affect the global container shipping industry in an unprecedented manner, C. K. Yoo, President and CEO of Hyundai Merchant Marine (HMM) said in a keynote address at TMP Asia 2017. Referring to the Ballast Water Management Convention and Low Sul
Video: Tanker Crewmember Medevaced off Durban
An Indian crewmember of the oil/chemical tanker Bochem Oslo was airlifted by South Africa’s Transnet National Ports Authority (TNPA) helicopter following a request for medical assistance from the ship’s crew. The 39-year-old crewman was suffering chest pains. The sea rescue craft Eikos Rescuer II wa
Wärtsilä Installs Hybrid System on OSV Viking Princess
Finnish technology group Wärtsilä has installed a hybrid energy system on board Norwegian offshore supply vessel Viking Princess, making it the first ever OSV in which batteries reduce the number of generators aboard the ship. The company informed that the new energy storage solution will improve en
TPT Declares Force Majeure at Richards Bay Terminal
South African terminal operator Transnet Port Terminals (TPT) has declared Force Majeure at its terminal facilities in Richards Bay following the strong storm that hit the region on Tuesday, October 10. TNT said that the decision was made due to the damage caused by extreme weather conditions which
Hilli Episeyo Sets Sail from Singapore to Cameroon
The world’s first converted floating liquefaction (FLNG) unit Hilli Episeyo has departed Singapore and is on its way to Cameroon for LNG bunkering ops. The vessel set sail at 10 am local time on October 12, earlier than anticipated, due to the operational decision to complete LNG bunkering in Camero
Fleetscape Raises USD 400 Mn of Capital
Capital provider to the maritime industry Fleetscape Capital Holdings Limited (Fleetscape) has collected USD 400 million in its first investment capital raise. The capital was raised from funds managed by Oaktree Capital Management, Fleetscape said. “With this capital raise, Fleetscape has become on