Green Marine
NAT cashing in on never stronger tanker market
The tanker market has never been so strong, according to Herbjørn Hansson Chairman & CEO of Nordic American Tankers (NAT). The company, which owns and operates Suezmax tankers, is cashing in on the market bonanza and unprecedented demand for floating storage. Namely, big oil companies the likes of E
Chinese shipyard wins Hartmann LPG order
Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering has won an order to build liquefied petroleum tankers for Germany’s Hartmann Group. The contract includes the construction of three 5000 cubic meter LPG ships and additional order for two vessels. CIMC SOE, which is a unit of CIMC E
World’s largest containership embarks on maiden voyage
The 24,000 TEU HMM Algeciras, the world’s largest containership, has headed out to sea on its maiden voyage. The ship left Geoje, Korea following its naming ceremony on April 23 setting sail for China. It departed from the port of Qingdao on Sunday and is heading for the Port of Busan, according to
Port of Antwerp: Port dues can be paid late due to COVID-19
In order to support companies in Belgium’s Port of Antwerp during the coronavirus crisis, Antwerp Port Authority has agreed to let them delay payment of port dues for seagoing ships and barges.
Singapore points to marginal breaches of 2020 sulphur cap with two detentions
The transition of the global shipping industry to fuels compliant with the IMO 2020 sulphur cap seems to be running smoothly with marginal non-compliance issues. According to the Port of Singapore, the world’s largest bunker hub and one of the largest trading hubs in the world, about 96% of the ship
TOP Ships buys 50 pct stakes in two product tanker newbuilds
Greek tanker owner and operator TOP Ships has acquired a 50 per cent interest in two companies that own two ultra-high specification scrubber-fitted 50,000 dwt eco MR product tanker newbuilds.
Port authorities vow to keep trade going in fight against the pandemic
Twenty port authorities from different parts of the world have signed a declaration calling for collaboration and sharing of best practices in ensuring port operations remain open to trade as part of the global efforts to fight the COVID-19 pandemic. Ports across the globe have been declared essenti
Cosco, CNPC to order LNG carrier trio at Hudong
A joint venture consisting of Chinese shipowner Cosco and energy giant CNPC is to order three liquefied natural gas carriers at Hudong Zhonghua Shipbuilding. The price for each of the 174,000 cubic meter LNG carriers is $185 million, according to a statement by Cosco Shipping Energy Transportation.
UK presents support package to protect its ferry routes
The United Kingdom government has introduced a multimillion-pound coronavirus support package to keep the flow of goods and services running smoothly in and out of the UK, and around the country, throughout the pandemic.
Hapag-Lloyd secured 9 percent in energy savings by removing fouling on 33 ships
German container shipping company Hapag-Lloyd has obtained 9 percent in energy savings in the form of fuel by preventing fouling on the hulls of its ships. The company is using digital tools to detect water resistance increases on its ships caused by fouling. It has also developed ship-specific biof
Rotterdam World Gateway gets two new deep-sea quay cranes
Two new deep-sea quay cranes arrived at Rotterdam World Gateway (RWG). They will be commissioned in the coming months and are expected to be operational in the second half of 2020. The new cranes, the largest of their kind, were built by ZPMC in China. They have a lifting height of 56 meters and are
Abu Dhabi Ports defers rent for its customers as part of COVID-19 relief measures
Abu Dhabi Ports is offering a three-month rent deferment for the second quarter of the year for its customers as part of the relief measures aimed at curbing the impact of the coronavirus pandemic on their operations. The package also includes a freeze on late payment penalties and an exemption from
Coronavirus-hit cruise ship Ruby Princess leaves Australia
The Ruby Princess cruise ship has departed Port Kembla, New South Wales, following the conclusion of the joint operation to facilitate the movement and repatriation of crew members to their home countries.
Bahri’s Q1 2020 earnings soar amid higher rates
The world’s largest owner and operator of very large crude oil carriers (VLCCs) Bahri reported a massive jump of 133.77 percent in its profit for the first quarter of 2020 despite COVID-19 challenges. The company’s net profit after tax reached SAR 419.22 million (USD 111 million) from SAR 179.33 mil