How much can be saved...

How much can be saved in vessel performance projects – real case studies in International Shipping News 17/07/2018 Implementing a vessel...

How much can be saved in vessel performance projects – real case studies
posted on: Jul 18, 2018

VLCC Market Finds it Hard...

VLCC Market Finds it Hard to Catch a Break in Hellenic Shipping News 17/07/2018 Tanker owners are finding it hard to...

VLCC Market Finds it Hard to Catch a Break
posted on: Jul 18, 2018

Baltic Exchange: Rates Easing in...

Baltic Exchange: Rates Easing in the Larger Classes, but Aframaxes Return to Higher Ground in International Shipping News 17/07/2018 VLCC Charterers...

Baltic Exchange: Rates Easing in the Larger Classes, but Aframaxes Return to Higher Ground
posted on: Jul 18, 2018

Salvage Operations Under Way for...

Salvage Operations Under Way for SSL Kolkata The fire on the SSL Kolkata, June 2018 (Indian Coast Guard) The...

Salvage Operations Under Way for SSL Kolkata
posted on: Jul 14, 2018
AMSA Vows to Get Tough on Operators Underpaying Crew

AMSA Vows to Get Tough on Operators Underpaying Crew...

posted on: Jul 14, 2018

AMSA Vows to Get Tough on Operators Underpaying Crew Shandong Hai Wang courtesy of AMSA The Australian Maritime Safety Authority (AMSA) has banned another ship, the bulk carrier Shandong Hai Wang, after the crew were found to be deliberately underpaid. It is the fourth incident of this kind over the past year, and AMSA’s General Manager of Operations, Allan Schwartz, said: “Ships visiting Australian ports are put on notice. The next ship we find deliberately and repeatedly underpaying its crew and attempting to deceive authorities can expect an even more severe penalty than that handed to the Shandong Hai Wang.” The Hong Kong-flagged Shandong Hai Wang, operated by Qilu Ship Management, was banned for 12 months after AMSA investigated a report from the International Transport Workers’ Federation alleging discrepancies in the payment of crew wages. AMSA surveyors boarded the ship on arrival in Gladstone over the weekend and found...

Kongsberg buys Rolls-Royce marine business in £500m deal 

Kongsberg buys Rolls-Royce marine business in £500m deal ...

posted on: Jul 14, 2018

Kongsberg buys Rolls-Royce marine business in £500m deal Friday, 06 July 2018 | Navigation, Autonomy & New Technologies (l-r) Tristan Halford-Maw, deputy director, M&A Rolls-Royce, with Kongsberg CEO Geir Håøy Kongsberg has agreed a £500 million deal to acquire Rolls-Royce Commercial Marine, buying the marine products, systems and aftermarket services operations put up for sale by Rolls-Royce after the UK company conducted a strategic review of its business at the beginning of the year and decided to narrow its focus to concentrate on the aerospace, defence and power systems markets. “The acquisition of Rolls-Royce Commercial Marine makes us a more complete supplier to the maritime industry,” said Geir Håøy, CEO and president of Kongsberg. “The maritime industry is becoming increasingly globalised and is undergoing considerable technological and market driven changes. With this acquisition we will (be) strengthening our strategic position with shipowners, shipyards and other customers and partners.” “The...

Inmarsat has rebuffed a takeover offer from US-based satellite operator EchoStar, valuing the London-based business at £3.2 billion.

Inmarsat has rebuffed a takeover offer from US-based satellite operator EchoStar, valuing the London-based business at £3.2 billion....

posted on: Jul 13, 2018

Inmarsat has rebuffed a takeover offer from US-based satellite operator EchoStar, valuing the London-based business at £3.2 billion. The dollar-denominated offer of approximately 532p per share was dismissed by Inmarsat’s board of directors soon after its receipt on July 3rd. The £3.2 billion valuation includes all of the UK group’s equity and convertible debt. “After carefully considering the revised conditional proposal with its advisers the board rejected the proposal on 4 July 2018 on the basis that it very significantly undervalued Inmarsat and its standalone prospects,” said Inmarsat, in a July 6th statement. “The board remains highly confident in the independent strategy and prospects of Inmarsat.” This is the second bid made by EchoStar to acquire the company, after an opening bid in June –  described as “highly preliminary” – was immediately turned down. Subsequent to making that bid EchoStar disclosed that it has built a shareholding worth about...

U.S. oil exports to India soar ahead of sanctions on Iran

U.S. oil exports to India soar ahead of sanctions on Iran...

posted on: Jul 13, 2018

U.S. oil exports to India soar ahead of sanctions on Iran in Freight News 13/07/2018 U.S. crude oil exports to India hit a record in June and so far this year are almost double last year’s total as the Asian nation’s refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration. U.S. President Donald Trump’s administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India’s shift advances the U.S. administration efforts to use energy to further its political goals. The United States has become a major crude exporter, sending 1.76 million barrels per day (bpd) abroad in April, according to the latest government figures. All told, producers and traders in the United States will send more than 15 million barrels of U.S. crude to India this year through July, compared with 8 million barrels in...

British Ports Association welcomes trade facilitation focus of Brexit White Paper

British Ports Association welcomes trade facilitation focus of Brexit White Paper...

posted on: Jul 13, 2018

British Ports Association welcomes trade facilitation focus of Brexit White Paper in Port News 13/07/2018 The British Ports Association has welcomed the Government’s Brexit White Paper which outlines the UK’s aims for a future economic relationship with the EU. Included in the White Paper is the much publicised Facilitated Customs Arrangement which essentially enables the continued frictionless trade between the UK and the EU. Commenting on the developments the British Ports Association’s Chief Executive, Richard Ballantyne said: “It is clear that the Government has listened to businesses and ports as the revised Facilitated Customs Arrangement proposal will preserve the present free flowing of trade between the UK and the EU. If agreed, this concept would avoid the need for customs and other frontier checks and would ensure that borders remain fluid. It would therefore address the concerns about queues and congestion at ports. We understand there will be challenges...

A Potential Monumental Shift

A Potential Monumental Shift

posted on: Jul 13, 2018

A Potential Monumental Shift in International Shipping News 13/07/2018 US President Trump criticized OPEC for the recent rise in fuel prices, citing that the US pays for defense for many of the groups’ members and therefore, OPEC should make an effort to increase crude supply to pressure global pricing. Additionally, Iranian President Rouhani hinted at the idea that Iran could disrupt the flow of crude exports out of the Arabian Gulf, while an Iranian Revolutionary Guard commander explicitly stated “If they want to stop Iranian oil exports, we will not allow any oil shipment to pass through the Strait of Hormuz.” A disruption of this magnitude would result in a monumental shift for both the global oil and oil transportation markets as 979 million tons of dirty and clean cargo passed through this region last year. Roughly one third of global crude exports would be removed from the market,...

Trade Wars and Shipping Don’t Bode Well

Trade Wars and Shipping Don’t Bode Well

posted on: Jul 13, 2018

Trade Wars and Shipping Don’t Bode Well in Dry Bulk Market,Hellenic Shipping News 13/07/2018 Just as ship owners were looking to a long term recovery, especially in the dry bulk market, but also in containers, developments in the form of an escalating trade war, have brought these hopes to a crushing halt. In its latest weekly report, shipbroker Allied Shipbroking said that “the trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken effect today morning. These recent tariffs are on USD 34 billion worth in imports on each side and have so far been imposed with minimal reactions from markets. The biggest concern now being voiced is with regards to a further escalation in this trade war, with propositions for additional tariffs to be placed on a further USD 200 billion...

E-Mobility in Shipping: Electric, Digital, Connected

E-Mobility in Shipping: Electric, Digital, Connected...

posted on: Jul 12, 2018

E-Mobility in Shipping: Electric, Digital, Connected Mikko Lepistö (image courtesy ABB) By Mikko Lepistö 2018-07-11 Shipping takes its cue for the growth in seaborne traffic from global trends in GDP, but new factors like shipboard automation and electric propulsion are also having an effect on the economics of transportation. On shore, car makers are now prioritizing R&D investment in electric cars, taking advantage of their relative simplicity, ease of control, easier updating and reduced losses in energy conversions when compared to conventional engines. ABB has significant involvement with electric vehicles – it is the title partner of the ABB FIA Formula E Championship, the fully electric FIA motorsport class – and it is also a leader in electric propulsion and integrated shipboard systems. In the maritime context, ABB’s “Electric. Digital. Connected.” strategy envisages shipping taking steps towards better exploitation of battery power and higher levels of automation and autonomy. That...

National First for Bangladesh Ship Recycling Yard

National First for Bangladesh Ship Recycling Yard...

posted on: Jul 12, 2018

National First for Bangladesh Ship Recycling Yard PHP yard PHP Shipbreaking and Recycling Industries of Bangladesh has bought its first vessel to be recycled in accordance with the Hong Kong Convention. PHP was the first Bangladeshi recycling facility to receive statement of compliance with the convention in October 2017. The statement was obtained from RINA. The Hong Kong Convention, adopted in 2009 but not yet entered into force, includes regulations for shipowners, recycling facilities, flag states and recycling states to ensure that end-of-life ships do not pose any unnecessary risks to human health, safety and the environment when being recycled. The vessel Ore Vitoria was purchased from Brazilian mining company Vale. “This is a historic moment for Bangladesh,” said Managing Director of PHP, Md. Zahirul Islam. “We had to work tirelessly for the last four years to get to this point, and we are extremely proud to receive the...

The automated future of spares supply?

The automated future of spares supply?

posted on: Jul 12, 2018

The automated future of spares supply? Tue 10 Jul 2018 by Ed Martins 3D printing could reduce the space needed to store spare parts and reduce both cost and CO2 emissions (credit: Monique Randolph) When it comes to delivering supplies to vessels at sea, technology like drones and 3D printing could make supply vessels and helicopters redundant, writes Ed Martin Improvements in load-handling and range could soon see drones being used to carry spares from shore to ship in place of manned vessels, while 3D printing may prove even more revolutionary, enabling products to be manufactured on board and doing away with supply vessels entirely. Although the technology remains some way off widespread adoption, proponents of 3D printing are keen to highlight the benefits, which include reducing supply chain requirements to a bare minimum. Essentially, vessels would simply need to carry enough raw materials to fabricate new components on...

Palm oil ban may not solve deforestation and biodiversity loss, study claims

Palm oil ban may not solve deforestation and biodiversity loss, study claims...

posted on: Jul 12, 2018

Palm oil ban may not solve deforestation and biodiversity loss, study claims July 06, 2018 Banning palm oil might displace, rather than stop, global loss of biodiversity due to a resultant increase in the production of other oil crops, a new study claims. Released on the tails of the EU’s June decision to phase out palm oil biodiesel by 2030, the survey by the International Union for Conservation of Nature (IUCN) acknowledged that palm oil was causing destruction in tropical forests, a 26 June Reuters report said. Due to being grown in species-rich tropical areas, palm oil production could lead to catastrophic loss in biodiversity, with more than 190 species directly threatened by it. The species under risks included orangutans, gibbons and tigers, and palm oil plantations could possible expand to areas housing more than half of the world’s endangered mammals and almost two-thirds of threatened birds, the study...

Singapore ranked best shipping centre for fifth consecutive year

Singapore ranked best shipping centre for fifth consecutive year...

posted on: Jul 12, 2018

11 JULY 2018 Singapore ranked best shipping centre for fifth consecutive year By Adele Berti Based on the International Shipping Centre Development Index, Hong Kong overtook London as the second best shipping centre behind Singapore. Credit: Noel Reynolds (Flickr). Singapore has topped the 2018 International Shipping Centre Development (ISCD) Index as the world’s best shipping centre for the fifth year in a row, beating cities including Hong Kong, Shanghai and London. The index, which was published by the Baltic Exchange and Chinese news agency Xinhua, ranks 43 of the largest ports and cities in the world and serves as a guide for investors and governments on the most important shipping hubs. Four of the top 10 ports are located in the Asia-Pacific region and three of them ranked in the top four spots. Singapore reached the highest place, thanks to its participation in the Maritime Silk Road initiative, which aims...

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