Kuwait Petroleum Corporation (KPC) has signed a historic deal with China’s Unipec which will see almost doubling of KPC’s shipments of crude to China. This is a milestone deal for KPC, under which, as of 2014 KPC will provide Unipec crude oil with the volume expected to reach 300,000 barrels per day
Following the previous investments in the Beverdonk Container Terminal at Grobbendonk, DP World has taken over all the shares Euroports owned in Trilogiport (Liège container terminal). With this, the international terminal operator takes full responsibility for the development of Trilogiport, the co
The ZIM Chicago, a ship owned by Israeli shipping line ZIM Integrated Shipping Services ltd, has departed the Port of Tacoma on schedule, after being unloaded and loaded as planned by the longshore workers, despite a pro-Gaza protest at the port, the Port authority informed yesterday. Pro-Palestinia
Israel’s shipping company ZIM Integrated Shipping Ltd. has published its results for the second quarter of 2014, on the backdrop of the successful conclusion of its debt restructuring on July 16, 2014. Under the terms of restructuring, Israel Corporation’s holding in ZIM was reduced from 100% to 32%
A new UNHCR report on irregular maritime movements in South East Asia estimates that 20,000 people risked their lives in sea crossings in the first half of this year. Many were Rohingya who fled Myanmar and arrived in the region suffering the effects of malnutrition and abuse during the journey. Sev
Reopening of the Libyan ports Ras Lanuf and Es Sider that were blocked for about a year by federalist rebels, along with the restart of crude oil transport will see a spike in Mediterranean Aframax freight rates, according to Platts. The first cargoes have already been shipped from the two ports and
The global cost of piracy, including the cost of piracy off eastern Africa, remains uncertain, with existing assessments providing divergent estimates and conclusions. Studies carried out by RAND Institute and the IMB have estimated piracy costs to range between US$1 and US$16 billion per year, acco
Danish shipping giant Maersk Line has cemented its top rating as most reliable line company, according to maritime analyst SeaIntel’s midyear review. According to the review, during the second quarter, the overall industry reliability has improved. However, there is a widening gap between industry p
Researchers from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI), have for the first time extensively mapped Greenland’s and Antarctica’s ice sheets with the help of the ESA satellite CryoSat-2, and have thus been able to prove that the ice crusts of both regions m
The International Labour Organisation ILO marks a year since the Maritime Labour Convention, 2006 entered into force worldwide on August 20, 2013. The MLC, 2006 provides comprehensive protection at work for seafarers. ILO TV travelled on board a container vessel to hear first-hand from seafarers wha
The International Maritime Bureau (IMB) is calling for vigilance in the maritime sector as it emerges that shipping and the supply chain is the ‘next playground for hackers’. IMB said, “Recent events have shown that systems managing the movement of goods need to be strengthened against the threat of
The number of container ships transporting goods around the world has fallen in the first half of 2014 but the total capacity of the global fleet continues to increase, consulting firm Drewry Maritime Research said in a note on Monday. Drewry Maritime Research predicts a fall in the number of contai
APM Terminals delivered an increased profit of USD 223m (USD 179m 2Q 2013) and a return on invested capital of 14.2% (12.8%) in the first six months of 2014. Terminals becoming fully operational, as well as new terminals added to the portfolio supported the 8% growth in volume. More than 80% of EBIT
BSR’s Clean Cargo Working Group’s 2014 “Global Maritime Trade Lane Emissions Factors” report—which provides data from more than 2,900 ships, representing around 85 percent of global ocean container capacity—indicates that average carbon-dioxide emissions for global ocean container transport have dec
