Greece Receives $402 Mln Bid from Cosco for Piraeus Port
![Photo: Piraeus Port Authority](https://images.marinelink.com/images/maritime/w100h1500/photo-piraeus-port-authority-54324.jpg)
Greece said it received an improved bid of 368.5 million euros ($402 million) that China's Cosco Group submitted on Wednesday for a 67 percent stake in Piraeus Port, the country's biggest. The board of the country's privatisation agency (HRADF) met on Wednesday and evaluated Cosco's offer. Privatisations are a key element of an international bailout Greece obtained in 2015. "HRADF's board of directors…
Hapag Invented the Pleasure Cruise
![Augusta Victoria just before entering the port of New York (Photo: Hapag-Lloyd)](https://images.marinelink.com/images/maritime/w100h1500/augusta-victoria-just-before-entering-54322.jpg)
Vacations on a ship – 125 years ago that was considered revolutionary. What many don’t know is that the modern cruises already started in 1891 – on a Hapag ship. On a cold January morning, nearly 125 years ago, nobody could have guessed that the idea would turn into such a success story. In any case, on January 22, 1891, it seemed as if all of Cuxhaven had turned out to marvel at the group of “intrepid travelers” making their way up the gangway of Hapag’s flagship…
Euronav Sells VLCC Famenne
![Famenne (Photo: Euronav)](https://images.marinelink.com/images/maritime/w100h1500/famenne-photo-euronav-54315.jpg)
Euronav NV has sold one of its two oldest VLCC vessels, the 2001-built, 298,412 dwt VLCC Famenne, for $38.4 million. The vessel is wholly owned by Euronav. The capital gain on that sale of about $13.8 million will be recorded at delivery. Following the sale, the availability of the revolver under the $750 million facility will be reduced by $23.7 million. The vessel is expected to be delivered to its new owner in the course of the first quarter 2016.
Emco Wheaton Plays Key Role in First US Crude Oil Shipment
![Photo: Emco Wheaton](https://images.marinelink.com/images/maritime/w100h1500/photo-emco-wheaton-54314.jpg)
Emco Wheaton has played a pivotal role in the transfer of the first shipment of U.S. crude oil for export in 40 years, after the Theo T tanker set sail from the Port of Corpus Christi bound for Europe. The Greek oil tanker was loaded on New Year’s Eve by NuStar Energy LP at its North Beach Terminal at Port Corpus Christi in Texas using three Emco Wheaton Marine Loading Arms. To cost effectively and safely supply crude oil to the global market…
US Coast Guard to Break Ice in Green Bay
The U.S. Coast Guard is scheduled to commence icebreaking operations Thursday in the waters of Green Bay in Lake Michigan. The Coast Guard said these operations…
Safe Harbor Pollution Insurance Broadens In-house Capacity
Vessel pollution liability insurance company Safe Harbor Pollution Insurance announced it has expanded its carrier partnerships to include Berkshire Hathaway Specialty…
MAN D&T Expands in Chinese Two-Stroke Market
At a ceremony in Zhuhai, Guangdong Province on January 16, 2016, local engine builder Yuchai Marine Power Co., Ltd. (YCMP) signed a new license agreement with MAN…
Next Generation Marine Power & Propulsion Conference
![](https://images.marinelink.com/images/maritime/w100h1500/-54310.jpg)
The Next Generation Marine Power & Propulsion Conference will be held at the Grand Harbour Hotel, Southampton U.K. from April 26 to 28, 2016. The event will bring together an international group of experts armed with the latest knowledge to highlight the potential use of innovative power and propulsion systems. The objective is to identify a range of solutions for workboats, pilot boats, wind farm support vessels…
Coast Guard Western Rivers High Water Closures, Restrictions
The U.S. Coast Guard has issued a number of river closures, restrictions and advisories in response to floods in the Midwest and South. Illinois River is open to traffic.
Hit by Oil Price Drop, Algeria Turns to China for Funds
Algeria is turning to China to finance several infrastructure projects, including a new $3.2 billion port, as the North African OPEC member looks for ways to weather the collapse in global oil prices.
Baltic Index Hits Record Low for 12th Straight Session
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, plunged to a new record low for the 12th straight session…
Inmarsat Expands Presence in Singapore
![Photo: Inmarsat](https://images.marinelink.com/images/maritime/w100h1500/photo-inmarsat-54303.jpg)
Inmarsat, has opened its new Singapore office, which is the company’s largest facility in Asia Pacific region. Inmarsat’s investment in the 1,700 suareq meter office in Toa Payoh, Central Region Singapore, sees the company’s regional hub providing a new solutions lab, demonstration capabilities, training rooms, a knowledge centre and support center, in addition to enhanced production and storage facilities.
Damen's InvaSave Passes Shipboard Tests
![Photo courtesy of Damen](https://images.marinelink.com/images/maritime/w100h1500/photo-courtesy-of-damen-54302.jpg)
Damen’s port solution for ballast water management on course to help compliance with upcoming IMO regulation. More and more countries are ratifying the IMO’s Ballast Water Management Convention (BWMC) and it is very likely that it may enter into force as early as the first half of 2017; in any case, it is only a matter of time. The shipping community must prepare for challenges to meet its requirements. Damen’s InvaSave is a solution that will help pave the way for compliance in ports.
North P&I Publishes Loss Prevention Guide on Bulk Cargoes
The 175 million GT, ‘A’ rated North P&I Club has published a major new guide for the international shipping industry on how to reduce losses when carrying bulk cargoes by sea.
Record Year for Valletta Cruise Port
![July 22 was the busiest day of 2015 at the Port of Valletta (Photo: © Peter Paul Barbara)](https://images.marinelink.com/images/maritime/w100h1500/july-22-was-the-busiest-54304.jpg)
A total of 668,277 passenger movements were recorded on 306 cruise vessels calling Valletta in 2015, equating to an increase of 150,683 passengers, or a 29.1 percent increase on the previous year. The year’s record figures surpassed the port’s previous best of 608,786 passenger movements set in 2012. As per NSO statistics, which exclude embarking passengers, the 2015 landed passengers amounted to 600,156, up sharply from 471,554 in 2014.
Improved Performance for Lithium Ion Battery Systems
Corvus Energy has validated and is restating the product specifications for its lithium ion battery systems reflecting that the system has double the RMS power capability…
Trelleborg Ships its 600th LNG Ship Shore Link
![Photo: Trelleborg](https://images.marinelink.com/images/maritime/w100h1500/photo-trelleborg-54299.jpg)
Trelleborg’s marine systems operation has passed a milestone with the shipment of its 600th SeaTechnik Ship Shore Link (SSL) system for the Liquefied Natural Gas (LNG) Industry. The SeaTechnik SMART SSL system will be installed on a 174,000m3 LNG Carrier (Hull number 2411), being built by Daewoo Shipbuilding & Marine Engineering (DSME) at its Okpo ship yard, Goeje Island, South Korea, for Teekay shipping Limited.
China: Rig Not Drilling in Disputed Waters
In mid-2014, rig caused worst breakdown in ties in decades. China's Foreign Ministry said on Wednesday that a $1-billion deepwater oil rig was not drilling in disputed…
Glencore Sells Russian Blend to Chevron for U.S. Delivery
Swiss-based trader and miner Glencore has sold 100,000 tonnes of Urals for loadings from Primorsk on Jan. 16-17 to Chevron for delivery to the US Gulf Coast, traders said…
Cargotec Acquires Interschalt Maritime Systems AG
Cargotec Corporation agreed to acquire INTERSCHALT maritime systems AG, the specialist software and related service provider to the maritime industry. The acquisition…