Coast Guard News
May 7, 2020
Source: IMO
Prompted by the growing crisis affecting around 150,000 seafarers stuck at sea and unable to sign off from their ships, the international maritime bodies have developed a set of protocols aimed at resolving the burning issue.... [Read More]
May 7, 2020
Antwerp-based tanker shipping company Euronav is reaping large profits from strong underlying tanker dynamics having reported $225.6 million of profit in the first quarter of 2020.
The figure is a massive surge when compared to a profit of $19.5 million in Q1 2019. The company’s revenue almost doubled from $232 million in the same quarter last year to $416 million in Q1, 2020.... [Read More]
May 7, 2020
Hyundai Heavy Industries (HHI), the biggest shipbuilder in South Korea, has secured an order for two crude oil carriers.... [Read More]
May 6, 2020
The COVID-19 pandemic seems to have shattered the ability of analysts to predict the outlook for the global economy putting a veil of uncertainty on different market prospects including shipping.
Predictions are being revised downwards ever more frequently as new metrics and factors are being considered as they emerge.
One thing is definitely certain, it is likely to get worse before it gets better. Even the IMF believes that the Great Lockdown is set to bring worse times for the global economy than the Great Depression.... [Read More]
May 6, 2020
The COVID-19 pandemic seems to have shattered the ability of analysts to predict the outlook for the global economy putting a veil of uncertainty on different market prospects including shipping.
Predictions are being revised downwards ever more frequently as new metrics and factors are being considered as they emerge.
One thing is definitely certain, it is likely to get worse before it gets better. Even the IMF believes that the Great Lockdown is set to bring worse times for the global economy than the Great Depression.... [Read More]
May 6, 2020
The Port of Long Beach has secured a $500 million loan from the U.S. Government to help finance a massive infrastructural project aimed at allowing larger ships to enter the port.
“This $500 million federal investment reflects the President’s continued emphasis on infrastructure that will reduce traffic congestion while enhancing the Port of Long Beach’s ability to handle large container ships to support economic growth in the region and the country,” said U.S. Transportation Secretary Elaine L. Chao.... [Read More]
May 6, 2020
The Port of Long Beach has secured a $500 million loan from the U.S. Government to help finance a massive infrastructural project aimed at allowing larger ships to enter the port.
“This $500 million federal investment reflects the President’s continued emphasis on infrastructure that will reduce traffic congestion while enhancing the Port of Long Beach’s ability to handle large container ships to support economic growth in the region and the country,” said U.S. Transportation Secretary Elaine L. Chao.... [Read More]
May 6, 2020
Spanish ferry operator Baleària is working towards being the first shipping line in the world to obtain the Global Safe Site Covid-19 badge at the highest level (Excellence) from the international certification and inspection body Bureau Veritas. ... [Read More]
May 6, 2020
Spanish ferry operator Baleària is working towards being the first shipping line in the world to obtain the Global Safe Site Covid-19 badge at the highest level (Excellence) from the international certification and inspection body Bureau Veritas. ... [Read More]
May 6, 2020
Monaco-based tanker owner and operator Scorpio Tankers has secured additional liquidity having received new loan commitments for debt repayment.
The company said it had received a commitment for a new credit facility for up to $225 million. The loan, still to be finalized, is expected to consist of a $150 million term loan facility and a $75 million revolving credit facility. ... [Read More]
May 6, 2020
French container shipping major CMA CGM has taken delivery of CMA CGM Sinnamary, a Sub-Panamax newbuild vessel.
The 2,300 TEU ship was built at Jiangsu New Yangzijiang shipyard in China.
The Cyprus-flagged containership has left Shanghai and will soon operate on the company’s NEFGUI service that connects French Guyana and Brazil to Northern Europe, CMA CGM said on its social media platforms.... [Read More]
May 6, 2020
Germany’s Hamann AG is supplying sewage and wastewater management systems for three new US regional-class research vessels (RCRV) currently under construction at Gulf Island Shipyards in Houma, Louisiana, USA. ... [Read More]
May 6, 2020
Although the first quarter of this year was characterised by weak spot rates in dry cargo and strong spot rates in tankers, Danish shipping company Dampskibsselskabet Norden A/S delivered an adjusted result of $29 million, compared to $7 million seen in Q1 2019.
Despite extreme market conditions, Norden saw its strongest first-quarter result since 2015. ... [Read More]
May 6, 2020
Crude oil tanker company DHT Holdings has postponed the installation of scrubbers on five of its ships, leaving the ships to trade for a while longer and reap fruit from a strong tanker market.
The company currently has 13 ships fitted with scrubbers out of the planned 18 very large crude carriers set to be fitted with exhaust gas cleaning systems this year.... [Read More]
May 6, 2020
Two new container gantry cranes arrived at the HHLA Container Terminal Burchardkai (CTB) on 4 May, providing the terminal operator with additional capacities for handling 24,000 TEU+ ultra large container vessels (ULCVs).... [Read More]
May 6, 2020
Source: Crowley
Florida-based ship owner and operator Crowley Maritime Corp. has signed a contract with satellite communications provider Inmarsat to install high-speed broadband service Fleet Xpress on a majority of its vessels.... [Read More]
May 5, 2020
The impending acceleration of decarbonization efforts to meet the IMO’s 2050 targets is expected also to speed up the development of new more environmentally-friendly engine designs.
Aside from the very low sulphur fuels, engines of the future are expected to be powered by a number of alternative fuels as well including methanol, LPG, biofuels and even ammonia.
However, for the switch from high sulfur fuel oil to fuels of the future to run smoothly, ships’ engines have to run smoothly as well.... [Read More]
May 5, 2020
China Development Bank Financial Leasing (CDB) has signed contracts with three compatriot shipbuilders for the purchase of eight 210,000-ton bulkers.
As disclosed in a stock exchange filing, two ships from the batch would be built by Qingdao Beihai Shipbuilding Heavy Industry, while Yangzhou COSCO Shipping Heavy Industry and Shanghai Waigaoqiao Shipbuilding would build three bulkers each.
CDB said that the newbuilding bulkers will cost a total of $ 417.6 million. ... [Read More]
May 5, 2020
Marine Terminals Corporation – East (Ports America), Ceres Marine Terminals Inc., and SSA Atlantic LLC have formed a joint venture company to provide container terminal and stevedoring services in the Port of Charleston in South Carolina. ... [Read More]
May 5, 2020
SMM Hamburg, the world’s largest international shipbuilding and marine industry fair, which usually takes place in September has been rescheduled due to the coronavirus pandemic measures still in place.... [Read More]