Green Marine
CMA CGM obtains € 1.05 billion loan
French container shipping major CMA CGM has secured a €1.05 billion ($1.1. billion) syndicated loan, the company announced. As disclosed, the loan will be arranged by a consortium of banks BNP Paribas, HSBC France and Société Générale and it would be 70% percent guaranteed by the French Government.
COVID-19 agony: 2 more cruise ship crew members die while awaiting repatriation
Two more cruise ship workers died as crewing crisis continues in the global shipping industry, the International Transport Workers’ Federation said.
Wärtsilä to boost fuel efficiency for KOTC’s VLCC quartet
The technology group Wärtsilä has been contracted by Kuwait Oil Tanker Company (KOTC), a subsidiary of Kuwait Petroleum Company (KPC), to retrofit main engines on four very large carriers (VLCCs) with the Wärtsilä Fuel Efficiency Boost solution. Wärtsilä said that the modification will reduce fuel c
Navis survey points to growing importance of remote operations
Being able to conduct port operations remotely has surfaced as one of the key issues for terminal operators in the wake of changing business environments and challenges to business operations posed by the COVID-19 pandemic, a survey conducted by Navis, a Cargotec company, shows. Navis said that it h
Thun Tankers orders 2nd ‘Not Always Afloat But Safely Aground’ ship
Shipping company Thun Tankers has placed an order for another ‘Not Always Afloat But Safely Aground’ (NAABSA) product tanker that will be able to call tidally restricted niche ports.
Maersk braces for 20-25% volume decrease in Q2 amid COVID-19 uncertainties
Copenhagen-based shipping major A.P. Moller-Maersk has emerged strongly from the first quarter of 2020, having reported an underlying profit of $197 million from continuing operations. The results are being reported despite a strong impact of the COVID-19 which started to be felt in February amid ex
Corvus Energy to power Nordlaks hybrid fish carrier
Corvus Energy has won a contract from BMA Technology in Turkey to supply its lithium-ion battery-based energy storage system for a new Nordlaks fish carrier. This is the second live-fish carrier in a series of two being built at Tersan Shipyard in Turkey for Norwegian salmon and trout producer, Nord
UK asked to exempt 200,000 seafarers, maritime workers from quarantine restrictions
The UK Chamber of Shipping — the voice of the country’s shipping industry — has urged the UK government to exempt seafarers and maritime workers from any quarantine restrictions planned to be imposed.
Tallink secures govt approval for €100 million loan
Estonian ferry company AS Tallink Grupp has secured clearance from the government on the terms of a loan worth up to € 100 million ($108 million). The 3-year government loan is expected to help mitigate the economic pressures the company has been experiencing as a result of the COVID-19 impact on th
HHLA feels negative impact of COVID-19
German terminal operator Hamburger Hafen und Logistik AG (HHLA) reported decreases in both revenue and earnings in the first three months of this year due to the challenging market environment. The company also recorded a moderate decrease in its container throughput and a significant decline in con
TOP Ships buys scrubber-fitted MR trio
Nasdaq-listed tanker owner TOP Ships has acquired three Medium Range (MR) tankers that are being built at the Hyundai Mipo shipyard in South Korea. The ships were bought in an $18 million acquisition from a company affiliated with the company’s Chief Executive Officer Evangelos J. Pistiolis. The ult
Development of the world’s 1st zero emissions, autonomous feeder halted due to COVID-19
The development of the world’s first autonomous and electric container vessel Yara Birkeland has been paused due to the COVID-19 pandemic and the changed global outlook, Norwegian company Yara informed. The hull of the Yara Birkeland vessel was launched to sea at Vard Braila in Romania in February 2
BIMCO: The crash of the bunker market and post-IMO 2020 reality
The collapse of the oil market has seen prices of marine fuels compliant with the IMO 2020 sulphur regulation dwindle providing some ease for shipowners in the unprecedented economic crash. “From a shipowner’s or charterer’s perspective, the lower bunker prices provide a glimmer of hope in bleak tim
Ports in Europe more affected by fewer cargo ship calls, report shows
Many of European ports are already feeling a greater impact of reduced cargo vessel calls than other regions of the world, a new report finds.