European Commission Exempts Mitsui O.S.K. Lines from Penalty
The DG Competition of European Commission (EC) announced that several companies including MOL breached European competition law with respect to car carrier services. Mitsui O.S.K. Lines (MOL) and other shipping companies have been investigated by the EC due to the suspicion of competition law violation. MOL has fully cooperated with the EC during the investigation. Though the EC announced that they found the violation of European competition law and imposed fines, MOL and its subsidiary companies were exempted from all penalty including the fine because EC granted MOL an immunity.
Subsea 7 to Invest in Xodus Group
Leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry Subsea 7 S.A. and Chiyoda Corporation announced that Subsea 7 has agreed to acquire a 60% holding in Xodus Group, a leading energy consultancy, from Chiyoda. Yokohama-based Chiyoda, which provides services in the fields of engineering, procurement and construction on a global basis for gas processing, will retain a 40% holding as a joint venture partner. This investment…
Morch Elected to J. Lauritzen BoD
Danish shipping company J. Lauritzen adds CEO of Norwegian Odfjell, Kristian V. Mørch, and CFO of the cleaning company ISS, Barbara Plucnar Jensen, into its board of directors. "J. Lauritzen A/S in March 2018, Kristian V. Morch, CEO at Odfjell SE, Norway and Barbara Plucnar Jensen, CFO at ISS UK and Ireland will be elected as new members of the Board of Directors of J. Lauritzen," said a press release from the company. In connection with the upcoming annual general meeting, Marianne Wiinholt, CFO & EVP at Ørsted will resign from the Board of Directors of J. Lauritzen. Kristian V.
Emas Offshore Appeals Against Oslo Stock Exchange Delisting
Oslo Stock Exchange has decided to delist the shares of Singapore-based Emas Offshore from trading. The offshore services provider considers this decision detrimental to its ongoing restructuring efforts. The Oslo Stock Exchange released a statement on Monday, February 19 announcing its intention to delist the shares of Emas Offshore Limited with effect from April 27, 2018. Emas Offshore, part of Singapore's Ezra Holdings plans to make an appeal against the decision by March 5. "In the meantime, the Company remains listed on the Oslo Stock Exchange.
Dudson Joins Incat Crowther as MD
Incat Crowther has appointed Ed Dudson as Managing Director of its UK business and as a board member contributing to overall business direction. With more than twenty five years of experience in the design and construction of high performance vessels including fast ferries, wind farm vessels, offshore vessels and patrol boats, Ed’s capability, reputation and integrity are a natural addition to the Incat Crowther brand. Incat Crowther has design offices in Australia, USA and the UK, each capable of responding to client’s needs within the context of the regional market.
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
Ocean Yield Acquires Two Handysize Dry Bulkers
Norwegian shipowner Ocean Yield announced that 100% owned subsidiaries of the Company has agreed to acquire two 2018 built handysize dry bulk vessels with 12-year bareboat charters to companies owned and guaranteed by Louis Dreyfus Armateurs Group (LDA). The net cash purchase price is USD 18 million per vessel after a seller's credit. Both vessels are expected to be delivered to the Company during March 2018. LDA has options to acquire the vessels during the charter period, with…
Morén Rejoins MJP
Marine Jet Power (MJP) welcomed Nils Morén as International Sales Manager responsible for sales in Israel, India, Taiwan and South Korea. In this role Nils will be responsible for business development and customer relations, reporting to MJP CEO, Magnus Sörenson. Nils originally joined MJP in 1996, during which time he was mainly responsible for sales for 14 years. During his tenure Nils was a key player and helped secure many notable contracts including orders worldwide. Most…
Port of Antwerp Looking for Full-Time Representative in the UK
The port of Antwerp has decided to appoint a full-time representative in the UK, based in London, in order to keep in closer touch with the economic situation there now that Brexit is looming closer. "Antwerp Port Authority is now in search of a full-time representative to further raise Antwerp’s profile on the British market," said a press statement from the company. Attracting additional sources of trade and cargo will also form part of the new port representative’s job. With an annual freight volume of nearly 14 million tonnes (2017)…
Rotterdam Port Hits Record Freight in 2017
The port of Rotterdam, Europe’s largest, continued to grow in 2017 spurred by a significant gain in container throughput, which increased by 1.3% to 476 (461) million tonnes with the port returning to the growth trend seen before 2016. Particularly strong growth in container throughput of 12.3% (in tonnes) was the main driver of growth in the port of Rotterdam throughout 2017. Total cargo throughput rose by 1.3%, with the port returning to the growth trend seen before 2016. The increase in containers was offset by a fall in dry bulk of 2.6% and in wet bulk of 4.1%.
NYK Cautions of Illegal Conducts in Chinese Subsidiary
Nippon Yusen Kabushiki Kaisha (NYK) said that it has discovered that there is a possibility that former locally hired management personnel in NYK Car Carrier (China), its consolidated subsidiary located in Shanghai. The China unit is engaged in finished car logistics business in China, had committed unlawful expenditure or embezzlement. The Company established an investigation committee (the Committee ) to investigat the aforementioned matter on February 5, 2018 (with Tadaaki Naito President Representative Director and President Corporate Officer as the Chairman of the Committee…
THE Alliance Announces Further 2018 Network Enhancements
Following the announcement of the 2018 service network in December the members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have worked to refine the product offerings. Several services will see additional enhancements to improve transit times, boost reliability, and deliver more choice to the marketplace. “The fine tuning of the 2018 product package will further strengthen our already robust portfolio and allow THE Alliance members to provide enhanced value tailored to exceed the need of the marketplace” the members said in a statement.
MOL Allies with NCC
Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC). "MOL and NCC concluded the agreement with the objective of developing a comprehensive two-way strategic partnership including both partners' group companies, and steadily enhancing their businesses," said a statement from the company. The agreement gives NCC the opportunity to globally increase…
Wallén, Scheja Join Ports of Stockholm
In the first half of 2018 two new members will augment the Ports of Stockholm Sales and Marketing force. Johan Wallén, former CEO of the container shipping company Team Lines, will become Director of Sales and Marketing and Stefan Scheja, previously Master Mariner at Tallink Silja, has already taken up his position as Ferries and Cruises Manager. “We are very happy to welcome Johan Wallén and Stefan Scheja. We are well on the way to achieving our vision of rebuilding and expanding our ports, and freight and passenger volumes are steadily increasing across virtually all segments.
Intermarine Obtains Cyanide Code Certification
Project, breakbulk and heavylift cargo transporter Intermarine, LLC said it has been certified in full compliance with the International Cyanide Management Code (Cyanide Code) by The International Cyanide Management Institute (ICMI). Following an extensive audit process, ICMI found Intermarine’s operations in full compliance with the Cyanide Code's Principles and Transport Practices. The Summary Audit Report and Auditor Credentials Form are available on Intermarine’s Signatory Company Page on the ICMI website.
The Swedish Club Moves Forward on a Firm Footing
The Swedish Club has reported results for the 2018 renewal season in line with its focus on quality business and expert approach to managing current and future risks. Growth is running according to plan and the P&I gross tonnage has moved in excess of the 50 million GT milestone. This follows on from the positive news announced by S&P Global Ratings (S&P) earlier this year, when it revised its outlook on The Swedish Club to positive from stable, affirming the 'BBB+' long-term insurer financial strength and issuer credit ratings for the Club.
Matson Reports Q4 Earnings Per Share $3.90
Honolulu-based Matson Inc reported fourth-quarter net income of $166.9 million. On a per-share basis it has profit of $3.90. The ocean transportation and logistics services company posted revenue of $516.1 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $503.2 million. The U.S. carrier in the Pacific reported profit of $232 million, or $5.37 per share for the year. Revenue was reported as $2.05 billion. Matt Cox, Matson's Chairman and Chief Executive Officer…
iContainers to Represent Spain at 4YFN
iContainers, a 100% online freight forwarder, has been chosen as one of the 32 most innovative and disruptive companies to represent Spain at the Spanish pavilion at this year’s 4YFN (4 Years From Now), a business platform for startups that’s being held in conjunction with the Mobile World Capital in Barcelona from February 26 to 28 this year. The Spanish pavilion is organized by Spain’s Ministry of Industry, Energy and Tourism’s Red.es entity and ICEX Spain Trade and Investment.
SSG, MPA and Maritime Union to Inject $12.6 mln in Training
The Singapore maritime industry looks well-positioned for the future, with strong support from SkillsFuture Singapore (SSG), the Maritime and Port Authority of Singapore (MPA), and Singapore Maritime Officers’ Union (SMOU) in the form of continued funding for the Tripartite Nautical and Engineering Training Award (TNTA & TETA) Programs worth S$12.6 million. The TNTA and TETA programs will receive funding support from SSG, MPA and SMOU. The two cadet training programs are recognized…
Britannia Appoints Exclusive Correspondent in Taiwan
In a move to maintain the highest possible service levels to its Members in Asia, Britannia P&I has recently made two important changes. In April last year, Britannia’s Managers, Tindall Riley, acquired the club’s Exclusive Correspondent in Japan, Cornes P&I. Renamed Tindall Riley (Britannia) Japan, the acquisition demonstrated the importance of Japanese shipowners to Britannia. “The renaming of the Tokyo office was the immediate change, with the office continuing to provide Britannia’s Japanese Members with outstanding levels of service” said Andrew Cutler, CEO Britannia.
Hoppe Singapore is Operational
As per January 1, 2018, Hoppe Singapore Pte. Ltd., a wholly owned subsidiary of the Hoppe Group headquartered in Hamburg, Germany, has opened. “The decision to set up Hoppe Singapore, enhancing the already existing Hoppe network in China and South Korea, proves Hoppe’s commitment in ensuring a reliable and timely response on service and spares support to customers in the region,” said Marc Rohde, Managing Director of Hoppe Marine GmbH, Germany. Hoppe Singapore is headed by Dr. Wilfred Rachan as Managing Director with his team of Service Engineers and Administration Staff.
LR Appoints Butcher as Managing Director
Lloyd’s Register (LR) has announced the appointment of Paul Butcher as Managing Director, LR Management Systems & Inspection Services. Based in Birmingham, U.K., Butcher brings with him over 30 years of leadership experience in global professional services businesses. After graduating from Southampton University, Butcher held a number of leadership roles in the assurance, IT services and telecommunications sectors, including positions with SAI Global, Marconi, Ericsson and Damovo.
Principle Logistics Group Names Xeros as President
Principle Logistics Group, a Fort Worth-based, strategic planning and transportation logistics and management company, has announced the hiring of Dean Xeros as their new president. In his role, Xeros will be responsible for leading an aggressive re-launch of the former Principle Transport Group, which will include the offering of a wider range and more technologically sophisticated range of logistics tools and efficiencies. Bringing more than 30 years of proven logistics, sales…
Intellian, Inmarsat Embark On FleetBroadband Development
Inmarsat and Intellian have signed an outline agreement that will support enhancements to Inmarsat’s FleetBroadband service for the next decade and beyond. The new agreement will see Intellian design and manufacture a new generation of FleetBroadband terminals that will support the existing I-4 network alongside the major advances coming with Inmarsat’s sixth generation satellite constellation, the first of which is scheduled for launch in 2020. The next generation terminals will be significantly lower cost and feature a host of new capabilities, including much faster throughput speeds.
Port of Piraeus Profit Up by 92%
The Piraeus Port Authority S.A. (PPA) 2017 financial report revealed profits before tax amounted to €21.2 million ($26.19 mln) compared to €11.0 million ($13.59 mln) in the year 2016, showing an increase of 92 percent. Turnover amounted to €111.5 million compared to €103.5 million in the corresponding period of 2016, showing an increase of 7.7 percent. The operations at the container terminal showed significant increase in revenue by € 7million (53.1 percent), where container throughput increased by 70.6 percent…
MJP Welcomes Back Morén as International Sales Manager
Marine Jet Power (MJP) has welcomed Nils Morén as International Sales Manager responsible for sales in Israel, India, Taiwan and South Korea. In this role Nils will be responsible for business development and customer relations, reporting to MJP CEO, Magnus Sörenson. Morén originally joined MJP in 1996, during which time he was mainly responsible for sales for 14 years. During his tenure Morén was a key player and helped secure many notable contracts including orders worldwide.
Container Shipping Struggles with Overcapacity: McKinsey
The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report. As container lines search for successful paths forward, they need to first determine what their strategy and potential role in the continuing industry consolidation will be. While mergers will continue, they do not need to be feared, just managed—and the guidelines in this report provide a starting point.
Ammar Kanaan Appointed CEO of Terminal Investment by MSC
The shipowning group Mediterranean Shipping Company (MSC) has appointed Ammar Kanaan as Chief Executive Officer of its cargo container terminals arm Terminal Investment Limited (TiL). TIL directly manages or crosses 53 container terminals in ports of five continents. As the founder and Chairman of International Port Management, Ammar Kanaan brings a wealth of expertise and 30 years’ experience in the transport and port sectors. He has built companies focused on port management…
Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness
The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”, Torvald Klaveness said. Earnings before tax (EBT) for 2017 ended at a loss of USD -2 million. Torvald Klaveness maintained a high solidity and good liquidity in 2017. Stronger markets resulted in improved results for the container segment and the dry bulk segment compared to 2016.
RollDock, SAL Heavy Lift Form Dock Vessels Pool
RollDock and SAL Heavy Lift announced plans to join forces for roll-on/roll-off and float-in/float-out heavy lift cargoes, saying they will launch a “world’s first” pool for dock vessels from April 1, 2018. The pool will consist of the combined fleet of six vessels and will be managed by RollDock with SAL providing specialized heavy break bulk cargo support. Five of the vessels comes from the existing RollDock fleet (S and ST class vessels) and one from SAL (Combi Dock I). Both companies will also continue independently and operate vessels outside the pool.
Gazprom to Reorganise Export Operations
Russian energy giant Gazprom said on Monday it planned to reorganise its export operations to create an integrated international distribution unit responsible for all of its export deliveries, trading and marketing. Gazprom said in a statement the reorganisation would take place in two stages over two years. It said the first stage would involve merging and streamlining the assets and activities of Gazprom Germany, which handles a large proportion of the group's exports. The second stage would see Gazprom Germany operationally merged with Gazprom Export, it said.
Several Car Shippers Face Fines for Rigging Bids
EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter. The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities. Competition regulators around…
Interventek Appoints Stuart as Business Development Director
Interventek Subsea Engineering has announced the appointment of Bruce Stuart to the role of Sales and Business Development Director. Stuart brings with him over 30 years of commercial leadership experience and in-depth operational knowledge of the oil and gas industry. Stuart joins Interventek from Proserv where he was VP Business Development Subsea, having previously held a seven year tenure at FMC Technologies, responsible for U.K. and Canada sales and marketing for their subsea products and systems.
Encik Rezza Resigns as ED of Bumi Armada Berhad
Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has announced the resignation of Encik Shaharul Rezza bin Hassan, Executive Director and Head of Offshore Marine Services (OMS) of Bumi Armada Berhad. Encik Rezza will officially relinquish his roles at the Group on the 28 of February 2018. He has requested an early release from the Group to pursue other interests outside the Group. Rezza joined Bumi Armada in September 2005 and prior to his current role as Head of the OMS business, he was the CFO.
Hyundai Merchant Marine Forms Consortium with MSC, Hapag-Lloyd and ONE
Hyundai Merchant Marine (HMM) announced that it has established a consortium with global liners, MSC, Hapag-Lloyd, and ONE to launch joint services between Asia and west coast of South America. Previously, HMM operated three Asia-west coast of South America services with MSC, CMA-CGM, Hamburg Süd, Hapag-Lloyd, APL, and CSCL. The newly reorganized ‘Asia-west coast of South America’ joint services will connect Korea, China, Japan, Taiwan with the west coast of Mexico, Peru, Chile, Columbia through three loops starting at the beginning of April.
DryShips to Spin Off of Its Gas Carrier Business
DryShips, a diversified owner of ocean going cargo vessels, announced that its wholly owned subsidiary, Gas Ships Limited has filed a registration statement on Form F-1 with the U.S. Securities & Exchange Commission, to spin off of its gas carrier business from the Company. In the spin-off, DryShips will distribute to holders of its common stock 49% of the issued and outstanding shares of Gas Ships Limited's common stock. Following the spin-off, Gas Ships Limited will be a publicly-traded company, and DryShips will retain a 51% ownership interest in Gas Ships Limited.
Pharma-Safe Expands into West Texas
Health and safety services provider Pharma-Safe Industrial Services said it has expanded into the West Texas market through the addition of a new office in Midland. In conjunction with Pharma-Safe’s new office, the company announced that Tony McWilliams will join as the West Texas Area Manager. With more than 20 years of experience, McWilliams will lead business development strategies for health, safety and environmental services and deliver exceptional results to clients. “Tony’s experience will help drive our company’s sales strategy and continued growth across the Gulf Coast…
Pacific International Lines Start Service in Far East - Red Sea Routes
Pacific International Lines (PIL), Singapore’s leading containership operator, announces two upgraded weekly services on the Far East – Red Sea service route. Done in collaboration with Ocean Alliance, the routes named RSS and RES will commence operations in March 2018, superseding the current three services RSS, RS3 and RS5. The route will be operated with a series of 17 x 11,000 to 14,000TEU vessels including its latest newbuilds, the 11,923TEU P Class in the service. The highly efficient and versatile P Class were purpose-built for Red Sea…
Cosco Shipping Executive Murdered in Pakistan
A Chinese shipping company executive was murdered in Karachi, Pakistani on Monday in what police say appears to be targeted attack. The man, identified as Chen Zhu, the Pakistan general manager of Cosco Shipping Lines Co, shot dead while in his car in the port city of Karachi, Reuters reported. Chen suffered a single bullet wound in the head, according to police who said at least 10 shots were fired at the car. “The incident appears to be targeted attack, (it) doesn’t look like a mugging,” Azad Khan, deputy inspector general of Karachi’s south zone, told Reuters.
Georgia Ports Plans 10 Million TEU of Growth by 2028
Georgia Ports Authority Executive Director Griff Lynch outlined a plan that will double container handling capacity to 10 million TEUs at Garden City Terminal within 10 years. "Georgia is home to both the single largest container and roll-on/roll-off facilities in North America," Lynch said. Lynch provided an overview of GPA's 2028 Plan that calls for 42 ship-to-shore cranes, 200 yard cranes, new RTG lanes and significant intermodal expansion in Savannah. The GPA will soon open…
DP World Reports Record Volume Growth
Dubai-based terminal operator DP World has reported record container volumes of 70.1 million TEU (twenty-foot equivalent units) for 2017, a jump of 10.1 percent year-on-year. In the fourth quarter, the global portfolio grew 10.3% year-on-year on a reported basis and 9.9% on a like-for-like basis with consistent performance across all three DP World regions and particularly strong contributions from our terminals in Europe, Americas and Middle East & Africa. The UAE handled 15.4 million TEU in 2017 up by 4.0% year-on-year.
Handforth is New CEO of Aberdeen Harbor Board
Michelle Handforth has taken over the role of chief executive at Aberdeen Harbor Board, the U.K. offshore oil and gas port. This comes after an extensive recruitment process, when Handforth, who has 20 years of board and leadership experience in global, multi-site businesses, was recruited to succeed Colin Parker as Chief Executive. Alistair Mackenzie, Chairman of Aberdeen Harbor Board, said, “Michelle is joining Aberdeen Harbor at an incredibly important time for the organisation.
Hapag-Lloyd Opens Ghana Office
German-based Hapag-Lloyd opened a new office in the Ghana port city Tema, on February 1, 2018. Effective immediately, the company will be represented at the local level by its own customer service staff. “Africa is strongly developing just now. To benefit from this growth, it’s important for us to strengthen our presence in Ghana with our own office – and to get even closer to our local customers,” said Lars Christiansen, Senior Managing Director of Hapag-Lloyd’s Region Middle East.
SpotSee Hires Smith as Supply Chain Director
Joseph Smith has joined SpotSee as supply chain director, responsible for directing and coordinating supply chain processes, procurement, production capacity and resource planning operations. Smith brings to the role more than 20 years of experience, having previously held positions at Drury Hotel Company, LLC., Briggs & Stratton and Textron Inc. He received his bachelor’s degree in management from Tabor College and his masters’ in business administration from Baker College.
HPH Trust Cautiously Optimistic on 2018
Hong Kong's Hutchison Port Holdings Trust (HPH Trust) saw its fourth-quarter earnings fall 38.4 per cent on weaker revenue and losses from associated companies. The company announced an attributable net profit of HK$237.8 million for the three months to Dec 31 last year - down from HK$385.8 million in the same period a year earlier. The Trustee-Manager remains cautiously optimistic about the expected cargo volume for 2018. Major liners have announced plans to continue to invest and build more megavessels of up to 22…
Sale of Entire Public Stake in DCIL
The Government of India has decided to sell off its entire public stake in Dredging Corporation of India (DCIL), said the Minister of State for Shipping Mansukh L Mandaviya. This decision aims to upgrade technology, improve capability, infuse capital to buy necessary dredgers/equipments and instill experienced professional management to optimize operations of the DCIL, Indian public sector unit engaged in the business of dredging. The Department of Investment and Public Asset…
Cargill Partners with Four NGOs on Shipping Sustainability
Dry bulk shipper Cargill said it is partnering with four NGOs to advance sustainability initiatives and increase accountability across the ocean shipping industry. The company said it has aligned with the Global Maritime Forum, the Maritime Anti-Corruption Network, the North American Environment Protection Association and the Women’s International Shipping and Trading Association in an effort to spearhead industry-wide progress toward safer and more efficient international shipping.
Coleman Joins Elliott Bay Design Group
Eric Coleman has joined Elliott Bay Design Group's team of naval architects and engineers, bringing with him six years of marine experience. Coleman’s experience is broad, with an emphasis on preliminary and detail design work of aluminum and steel vessels. He has worked on a wide variety of commercial vessels and charter yachts up to 210 feet in length. His background includes hands-on shipyard experience, comprising production oversight, class and regulatory compliance, and designing for production.
Noble Group deals to sell four ships fall apart
The commodity trader Noble Group says proposed agreements to sell four dry bulk carrier vessels fell through after the buyers failed to get approval from their boards, reports Strait Times. The disposal of the freight vessels for gross proceeds of about USD 95 million had been approved by Noble shareholders at a special general meeting on Jan 25. The crisis-wracked company estimates it would have received about USD 30mln in net proceeds if the vessels had been sold. The proposed disposal of the vessels is a part of the Noble’s debt reduction plans.
Döhle, Costamare JV ‘Blue Net Chartering’ Operational
Germany's Peter Döhle and Greece's Costamare are merging operations of their container ships in a new joint venture (JV) named dubbed Blue Net Chartering headquartered in Hamburg. Blue Net Chartering will serve the container fleets operated by both as well as third-party vessels. It will provide brokerage services for 220 box ships with an aggregate capacity of 1.1M TEU. The official launch took place on 1 February. According to Costamare, the Blue Net Chartering aims to provide “best-in-class employment opportunities for containership owners.
Fincantieri Buys 50% STX France
The Italian shipbuilder Fincantieri signed Friday an agreement to buy 50% of the share capital of France's STX Shipyard, for 59.7 million euros. This takeover is part of the agreement in principle reached in September between France and Italy, which put an end to months of tension between the two countries. "The signing takes place after the resolution of the share purchase agreement previously signed between Fincantieri and STX Europe on May 19, 2017 as a consequence of the exercise…
Navig8 Chemical Tankers Still in Red
Despite a shift in demand in the chemical shipping sector, Navig8 Chemical Tankers ended the fourth quarter ended 31st December, 2017 with a widened net loss of USD 3.7mln. Revenue for 4Q17 was $43.3 mill, compared to $33.9 mill for 4Q16. “The chemical tanker market began to show signs of improvement in the fourth quarter led by stronger demand in the chemical sector and tightening in the MR product tanker market,” said CEO Nicolas Busch. “With our fleet fully delivered, we are…
RightShip Appoints New CEO
RightShip, the world’s leading maritime risk management and environmental assessment organisation, has appointed its new CEO. Martin Crawford-Brunt will replace outgoing CEO Warwick Norman who announced his decision to step down from the position in 2017. Crawford-Brunt takes up his new post on 12 March 2018 and brings more than 20 years of maritime sector experience to RightShip. For the past decade he has held senior positions around the world, with a track record of successfully building businesses and delivering increased value to ship owners.
Viking Supply Ships Completes Restructuring
Swedish OSV owner Viking Supply Ships (VSS) has signed a final agreement to complete the restructuring of its finances as credit committees of all its senior lenders have approved the completed programme. According to the agreed and approved restructuring, VSS loan facilities will carry significant less cash interest and instalments until maturity on 31 March 2020. Limited cash interest and instalments will be paid until Q4 2018. Financial covenants on the loan facilities are amended to provide Viking Supply Ships A/S with ample room to operate under the present challenging market conditions.
Houlder Recruits Walker for Marine Assurance Business
Marine consultancy and engineering provider, Houlder has announced the recruitment of Neil Walker to develop a Marine Assurance Services business. Walker was previously Europe Regional Manager for Global Maritime Consultancy Ltd. His experience covers key areas such as Marine Installation and Warranty Services, Expert Witness, Naval Architecture and Design Consultancy. His expertise includes platform installation and decommissioning, mooring and riser analyzes and tanker-based systems.
Bahri Adds VLCC 'Lawhah' to its Fleet
The National Shipping Company of Saudi Arabia (Bahri) received a very large crude carrier (VLCC) named “Lawhah” on Thursday, the company said. "Continuing its strong start to 2018, Bahri accepted the delivery of ‘Lawhah to further cement its market-dominant position in crude oil transportation," said a press release. The vessel, which lifts the total number of the company’s multipurpose fleet to 90, is the second of five VLCCs to be received this year from Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company based in South Korea.
Dorian LPG Sells, Leaseback Concorde
The Stamford, Connecticut-based Dorian LPG has reached a sale and bareboat charter arrangement for its 84,000 cbm carrier Concorde. The liquified petroleum gas shipping company entered into the USD 70 million deal that closed on January 31, 2018, resulting in net cash proceeds of USD 56 million. "We have entered into a sale and bareboat charter arrangement that closed on January 31, 2018 for the Concorde, which was previously financed under the 2015 Debt Facility. The net proceeds from the transaction amounted to $56.0 million…
Chemical Tankers Face Challenging Year: Stolt-Nielsen
Chemical tankers are sailing into another challenging year, according to the London based chemical carrier, tank container and terminals group Stolt-Nielsen's Chief Executive Officer, Niels G. Stolt-Nielsen. "Our outlook for the first half of 2018 remains essentially unchanged. We do not anticipate any substantial improvement in the chemical tanker market until 2019 when the orderbook reduces and the supply/demand balance improves," he said. Niels added: "For Stolthaven Terminals…
Hapag-Lloyd North America President Freese Retires
Wolfgang Freese, President Region North America, will be retiring after almost five decades with Hapag-Lloyd. Freese began his career in the shipping company in 1971 with an apprenticeship to become a shipping agent. In recent decades, he has held management positions in several locations, including Germany, Indonesia, Great Britain and the U.S. Since 2009, Freese has led this region headquartered in Piscataway, near New York City. Following a transitional period, he will be succeeded on April 1…
Maritime Shipping Market Brightened: NYK Line
Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) said that conditions in the maritime shipping market were positive overall during the nine-month period of the fiscal year ending March 31, 2018. In the container shipping market, an upswing in spot freight rates stalled somewhat as the total supply of tonnage remained at similarly high levels as the previous year. Nevertheless, shipping traffic was brisk on the back of robust demand for container shipments. In the dry bulk shipping market…
Hamburg Süd to Launch New Asia-Americas Service
Beginning in April, Hamburg Süd is launching a new service network between Asia and South America West Coast, Mexico, Central America and the Caribbean. Concealed behind the service names ASPA and ASCA will then be a completely new product to replace the present partnership with other liner shipping companies (Vessel Sharing Agreement) in this trade. Customers will benefit from additional direct connections, higher sailing requencies, greater flexibility as well as shorter transit times.
United Arab Stevedoring H1 Loss Widens
Egypt's United Arab Stevedoring Co. reported a H1 net loss after tax of EGP 13.7 million ($775,000) versus a loss of EGP 12.8 million ($724,000) a year ago. The company’s H1 revenue was EGP 7.6 million ($430,000) versus EGP 5.3 million ($300,000) a year ago.
Spectra Logistics Opens New Container Yard in Sri Lanka
GAC Logistics Sri Lanka and Hemas Transportation have opened a new 30,000m² container yard with a capacity of 6,000 TEUs at their joint integrated logistics facility in the Muthurajawela Industrial Zone, Wattala. It is the latest development in the partnership between the two companies, under the name Spectra Logistics, which was announced a year ago at the facility’s groundbreaking ceremony. Work has already begun on the next phase, with a distribution centre due to be completed by June this year.
CMA CGM Unveils Startup Incubator Ze Box
French container shipping giant CMA CGM has set up a new global startup incubator to drive its digital strategy. Based in Marseilles, France, the incubator Ze Box is set to house a dozen of startups from around the world, starting in June this year. Located in Le Castel building, it will cover a surface of 800m² and will house, starting June 2018, a dozen of startups coming from all around the world to develop their potential. A call for applications will be launched shortly. The creation of Ze Box is part of CMA CGM’s strategy to make digitalization one of the pillars of its development.
[Brief] Ningbo Marine Sees FY 2017 Net Profit Up 70%
Ningbo Marine Co Ltd: * Says it sees net profit for FY 2017 to increase by 70 percent * Says the net profit of FY 2016 was 88.4 million yuan * Comments that increased waterbailage income and toll related income of unit as main reasons for the forecast
Cosco Shipping Expects to Swing to Net Profit in 2017
Cosco Shipping Holdings Co Ltd says it expects net profit of about 2.7 billion yuan in 20117 versus net loss of 9.9 billion yuan a year ago. (Reporting by Hong Kong newsroom)
Hapag-Lloyd to Commence Middle East-Africa Service
Ocean carrier Hapag-Lloyd will commence a new weekly service between the Port of Jeddah and the east coast of Africa in April. With the East Africa Service (EAS), the liner shipping company will be calling at the ports of Mombasa (Kenya) and Dar es Salaam (Tanzania) for the first time. These will be connected to Hapag-Lloyd’s existing global network via the Saudi Arabian port of Jeddah, as the central hub of the region. Hapag-Lloyd will initially deploy four vessels, each with a capacity of 1,200 TEU, in the EAS.
[Brief] Canal Shipping Agencies H1 Profit Falls
Canal Shipping Agencies Co: H1 net profit after tax EGP 79.5 million versus EGP 153.7 million year ago Sees FY 2018-2019 net profit of EGP 155 million
Petrobras to join Oil and Gas Climate Initiative (OGCI)
Petróleo Brasileiro SA (Petrobras) has announced its intention to join the Oil and Gas Climate Initiative (OGCI). The company revealed that its CEO, Pedro Parente, has signed a letter of engagement so that the company can become an effective member of the voluntary initiative, which aims to lead the industry response to climate change. The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change, pooling knowledge and collaborating on action to reduce greenhouse emissions.
Intermarine Appoints Alejandro Pla as Mexico Manager
Intermarine, LLC, a global leader in the transport of project, breakbulk and heavylift cargo, has named Alejandro Pla as Country Manager – Mexico. He will be based in Mexico, City. Pla has more than 24 years of experience in a variety of roles in shipping and logistics. Most recently, he served as Chartering Manager for Representaciones Maritimas S.A. agency in Mexico City where he oversaw commercial and chartering activity for the group and their clients. In his role with Intermarine…
K-Line, NYK Line, Chubu Electric, Toyota Tsusho Eye LNG Bunkering
Kawasaki Kisen Kaisha (K Line), Chubu Electric Power, Toyota Tsusho Corporation and Nippon Yusen Kabushiki Kaisha (NYK Line) have decided to work in the field of liquefied natural gas (LNG) bunkering in Japan. A joint statement that LNG is expected to become an important alternative to heavy fuel oil due to its relatively low carbon footptint, which will enable ships to meet increasingly stringent international regulations on emissions. The shipping forms K Line and NYK Line, together with electric utilities provider Chubu Electric Power and trading company Toyota Tsusho Corporation…
Capital Ship Management, Liberty One Form JV
Capital Ship Management Corp. and Liberty One have announced the establishment of a joint venture under the name Capital Liberty Invest, taking aim at the German shipping market. The new entity will combine the forces, excellent track record and reputation of Capital and Liberty with the aim to provide commercial and technical ship operating platforms across different shipping segments and sizes in the German shipping market. The Joint Venture will seek growth opportunities in the container segment…
TOTE Places Hawaii Plans on Hold
U.S. ocean carrier TOTE said its plans to enter the domestic Hawaiian trade have been derailed by the scope and timing of infrastructure upgrades that would be required to accommodate the new service. TOTE had been earmarked access to Honolulu Piers 1 and 2 and exclusive use of the adjacent 45 acres starting in 2020, but the carrier has now put its plans on hold after a preliminary study of the site revealed that necessary infrastructure upgrades would prevent it from stating the service within the intended timeframe.
Navios Maritime Partners Growing With Panamax Vessels
Greek owner and operator of dry bulk and container vessels Navios Maritime Partners has agreed to acquire two 2006-built Panamax vessels with a capacity of approximately 74,500 dwt each, for a total purchase price of USD 22 million. The vessels are expected to be delivered to Navios Partners' owned fleet within Q1 2018. Based on the existing charters of the vessels ($9,375 net per day until May/November 2018 and $9,844 until March/August 2018, respectively) and the current rate environment (Clarksons’ 1-year time charter rate for Panamax vessels as of January 19…
Dellner Acquires Pintsch Bubenzer
Sweden’s Dellner Group with its subsidiary Dellner Brakes said it has signed an agreement to acquire German industrial braking manufacturer Pintsch Bubenzer in a deal it hopes will pave the way for the companies’ global expansion. This acquisition is being carried out in partnership with investment company Active Ownership Capital and comes four months after Dellner Brakes acquired U.S. brake and clutch company Gummi USA. It is a significant step in the Swedish company’s focused ambition to become the world’s leading supplier of brakes and related power transmission products.
Maersk Drilling Axes Dozens of Staff
Maersk Drilling USA is laying off 84 employees who work aboard the Maersk Viking (UDW drillship), located in the Gulf of Mexico, and report directly to the company’s office in Houston, Houston Chronicle reported quoting data sent to the Texas Workforce Commission (TWC). The employees, who received notification of the layoffs on Jan. 12, report to the company's office at 2500 CityWest Boulevard. They will continue to work for the next two months until their employment is terminated, according to the WARN notice.
Hill Dickinson Hires Duddington as Partner
International law firm Hill Dickinson has appointed partner Siiri Duddington to join its expanding shipping team. Formerly a partner at Campbell Johnston Clark (CJC), Siiri spent six years at the firm advising on a wide range of dry shipping, trade and insurance litigation, acting principally for owners, charterers, P&I clubs, traders and insurers. Siiri has extensive experience in commercial contracts disputes involving charterparty, bill of lading, MOA, COA, pooling agreements, marine insurance and sale contracts, as well as shipbuilding and rig disputes.
CMA CGM Recruits Digital Expert Krishnamurthy
The CMA CGM Group has hired Rajesh Krishnamurthy as group senior vice president IT & transformation, as the French container carrier seeks to further accelerate its digital push. Digitalization is considered an integral piece of CMA CGM’s growth plan, having been labeled a key strategic priority by CEO Rodolphe Saadé. “To accelerate this transformation, CMA CGM is recruiting the best specialists in the field and that is why CMA CGM is recruiting Rajesh Krishnamurthy to drive this strategy,” CMA CGM said.
Maersk joins New York Shipping Exchange
Danish container shipping giant Maersk Line has followed in the footsteps of its counterparts CMA CGM and Hapag-Lloyd and joined the New York Shipping Exchange (NYSHEX) as its founding member. Along with Hapag Lloyd, CMA CGM, MOL, OOCL, and COSCO, Maersk Line will begin posting digital contract offers for the Transpacific Westbound trade on the exchange as early as March of this year. "This marks a significant milestone for us as we now have added six of the top global ocean carriers as members in the last nine months," says a statement from NYSHEX.
COSCO Shipping Ports, CMA CGM Ink Concession Deal with Zeebrugge Port
COSCO Shipping Ports , the world’s leading port operator, announced a signing ceremony was held today with Port of Zeebrugge in Brussels of Belgium for the concession terms of CSP Zeebrugge Terminal. The event also witnessed the signing of a Memorandum of Understanding (MoU) between the Company and CMA CGM Group, the Marseille based world’s leading shipping company and member of Ocean Alliance, for CMA’s initial investment of 10% in CSP Zeebrugge. Kris Peeters, Vice Prime Minister and Minister for Work…
TORM Updates Fleet Status
Denmark shipping company that owns and operates product tankers and bulk carriers TORM exercised two options for the construction of two LR1 newbuildings for a total commitment of USD 74m and with expected delivery in 2019 through the first quarter of 2020. In connection with the two newbuildings, TORM has secured commitment from ABN AMRO for attractive vessel financing of up to USD 50m, subject to documentation. As of 31 December 2017, TORM had available liquidity of USD 405m, consisting of USD 134m in cash and USD 271m in undrawn credit facilities excluding the ABN AMRO financing.
Lee Named Partner at Holland & Knight
Eric Lee has been elevated to partnership in Holland & Knight’s Washington, D.C., office. Lee brings extensive experience in domestic and international shipping, supply chain services and logistics, as well as in a broad range of corporate, commercial and regulatory matters to bolster the firm's international trade, maritime, transportation and energy groups. As a member of the international team, Lee helps companies in the supply chain, logistics and other transportation services industries, including maritime, air, road and rail.
NAVTOR Hires Holme as Chief Technology Officer
E-navigation specialist NAVTOR said it has appointed Anders Holme for the role of Chief Technology Officer. Holme will manage teams that work across offices in Egersund, Norway, Singapore, Japan, Sweden, Russia, the U.S. and U.K. NAVTOR’s main software development takes place at the company’s head office in Egersund and its dedicated base in St Petersburg. “There is a growing appreciation within shipping that new technology can unlock real operational advantages and business opportunities,” Holme said.
Diana Shipping Wins TC Contract from Ausca
Diana Shipping , a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Ausca Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione. The gross charter rate is US$10,350 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to about 17 months. The charter is expected to commence on January 23, 2018.
PPA Presents Proposals for Piraeus Port Master Plan
The Piraeus Port Authority (PPA) has presented its proposals for the master plan for the development of Greece's largest port of Piraeus under “Master Plan of the Port of Piraeus". The compilation of the Master Plan for the development and operation of the Piraeus Port was made according to: (i) all the Laws and regulations of general implementation, together with all the existing applicable regulatory rules, (ii) the methodology and specifications quoted in the “Specifications of Master Plan” document…
Transas Conference to Plot Industry’s New Course
Moving from smart talk to practical solutions and learning from other industries will be the twin themes of an industry event scheduled for Vancouver in March. Technology will be an enabler, but the maritime industry will have to be prepared to change its model to be a candidate for a smarter digital future. Meeting the real enterprise challenges blocking shipping’s digital journey is the focus for the Transas Global Conference 2018, whose ‘Enterprise Change’ agenda brings together global business leaders…
Intermarine UK Opens New Facility
Maritime engineering company Intermarine UK has unveiled growth plans after investing a six-figure sum in a new 2,400sqm fabrication and welding facility at Portland Port in Dorset, U.K. creating up to 60 new jobs for local people in the next two years. The move sees Intermarine UK sign a 20-year lease and move its U.K. head office from Bridgend to Portland Port, a former naval base and the world’s second largest manmade harbor. Inter Marine Group President Slawomir Kalicki said the Polish owned company will start operations from March offering ship repair services at Portland.
Unpaid Seafarers Stranded in Durban
A group of seafarers are stuck in the port of Durban, South Africa after their vessel was detained for non-payment of wages. The multinational crew working aboard tug/supply ship PSD2 had not been paid for as long as 15 months and were in need of food and fresh water. Two crew members were also in need of immediate medical attention while all of them desperately needed money to send home to their families. Seafarer’s charity Apostleship of the Sea (AoS) and chaplains from other organizations in Durban provided assistance to the ship’s crew.
Emas Offshore CEO Capt. Adarash Kumar Resigns
Singapore-based Emas Offshore announced that CEO and Executive Director Capt. Adarash Kumar has tendered his resignation and his last day of service will be on April 6, 2018. In a stock exchange filing, the operating brand for Ezra Holdings said that Kumar will continue in his duties and responsibilities pending the appointment of a suitable candidate in due course. He was appointed to the Board as Non-Independent, Non-Executive Director on 26 Aug 2014, and re-designated as an Executive Director on 1 May 2015. He was appointed CEO on 25 Sep 2015. Capt.
Azerbaijan Caspian Shipping to Prevent Environmental Pollution
Environmental protection is one of the main criteria of sustainable development, says Azerbaijan Caspian Shipping Company (ACSC). ACSC keeps in the center of constant attention the minimization of environmental impacts of sludges, waste oil, fuel, other liquid and solid wastes obtained during the operation of vessels and the functioning of onshore facilities, on water basins, ground and air. Preventive measures within the framework of existing opportunities are taken against the damage of the environment in the course of operations.
Annet Koster New Director of KVNR
Association of Dutch Shipowners (KVNR) has appointed Annet Koster as its new director from 1 March 2018. Annet Koster will join the shipowners' association ass the face of the KVNR, will make a strong case for Dutch shipping, said the board chairmen Sibrand Hassing and Karin Orsel on 17 January during the New Year's reception of the association. "I especially want to get started to make Dutch shipping more broadly visible and to introduce people to this dynamic and traditional Dutch sector," says the brand new director.
Chembulk Tankers Issues USD 200mln Bond
Chembulk Tankers announced that one of its wholly owned subsidiaries, Chembulk Holding LLC, has priced USD 200 million in senior secured bonds which will carry a coupon of 8.00% and be due in February 2023. The net proceeds from the bond offering will be used for refinancing of existing bank debt and general corporate purposes. In addition, this bond offering contains a tap issuance feature, where Chembulk can expand the issue amount at a future date to a maximum of USD 250 million, subject to standard issuance tests.
Aegean Exits Singapore Bunker Market
Aegean Bunkering Pte Ltd on Friday said it had this week left the world's largest marine fuels market in Singapore after handing back its supply and craft operator licences. The company had announced in October that it would halt physical supply operations in Singapore by January amid heightened commercial pressures after the city-state adopted tougher bunkering procedures. Aegean Bunkering, headquartered in Greece, was last year ranked the 20th largest marine fuels supplier by volume in Singapore from a total of 55, data from the Maritime and Port Authority of Singapore (MPA) showed.
Liberia Opens Maritime Training Institute
The Liberia Maritime Training Institute (LMTI) was officially opened by Liberia President Ellen Johnson-Sirleaf during an inauguration ceremony in Marshall City, Liberia, on January 5. The facility is named after John G Bestman, former Liberian finance minister and a member of the board of governors of the Central Bank of Liberia. Under the management of the Liberian International Ship & Corporate Registry (LISCR), LMTI has undergone a massive renovation and facility modernization program over the past two years, resulting in the creation of a new campus and state-of-the-art facilities.
Ocean Network Express Completes Merger Approvals
South Africa’s competition watchdog becomes final signatory allowing Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ), Nippon Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can start operations on April 1. "K Line, MOL and NYK have announced that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required for the launch of service by the newly established joint venture company…
Digital Naming of Stena Immortal
The digital naming of the MR tanker Stena Immortal took place January 18 at Stena's new office in Hellerup in the north of Copenhagen. The 50,000 dwt Stena Immortal was built at the Guangzhou Shipbuilding International (GSI) shipyard in southeast China and is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR). Following her delivery in September 2016, the 183-meter-long tanker has sailed in one of Stena Bulk's global logistics systems, which currently employ some 60 vessels, with a focus on refined petroleum products, vegetable oils and chemicals.
Global Ship Lease Eyes Acquisitions
The London-based Global Ship Lease (GSL) said that it is well-positioned as one of few publicly listed containership leasing companies to acquire attractive portfolios of ships, attract growth capital or find a complementary merger partner. The containership charter owner has engaged Evercore to act as financial advisor to assist in reviewing strategic alternatives focused on maximizing shareholder value. GSL has successfully refinanced of all of the its indebtedness in October 2017 and with a strengthening market backdrop.
GOGL Acquires New Vessel
Norway based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of the second vessel, Sea Monterrey (to be renamed Golden Monterrey). On October 16, 2017 GOGL announced that it has entered into agreements to acquire two modern Capesize vessels from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family (Hemen), the Company's largest shareholder, at a purchase price of USD 43.0 million per vessel. The first vessel, Golden Behike, was delivered in November 2017.
BMT Hires Strategy Director Tomlinson
BMT has appointed Guy Tomlinson as Group Capability and Strategy Director. Tomlinson joins BMT from QinetiQ where he led a 35-strong business development team as UK Sales Director. He brings to the role experience from across the maritime, defense, cyber and information and training domains, as well as leading on several sales and business development transformation programs. Prior to joining QinetiQ, Tomlinson served in the Royal Air Force for 23 years as an engineer officer, with operational tours in Iraq, Kosovo and the Falkland Islands.