Maersk, IBM Say 94 Organizations have Joined Blockchain Platform
Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.The industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy.Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platfor
Great Lakes Limestone Trade Strong in July
Shipments of limestone on the Great Lakes totaled 3,985,544 tons in July, an increase of 3.1 percent compared to a year ago, the Lake Carriers’ Association reported. The trade also bettered the month’s 5-year average by 5.5 percent.Loadings from U.S. quarries totaled 3.142 million tons, a decrease equal to one cargo in a mid-sized laker. Shipments from Canadian quarries rose to 843,000 tons, an increase of 20 percent…
Italy Uncovers Massive Load of Hash in Ship's Fuel Tanks
Italian police said on Thursday they found 20 tonnes of hash worth as much as 200 million euros ($232 million) in the fuel tanks of a Panama-flagged ship that was…
Japan Spot LNG Contract Price Hits 5-month High
The average contract price for spot liquefied natural gas (LNG) cargoes for shipment to Japan last month hit a five-month high of $10.00 per million British thermal units (mmBtu), Japan's trade ministry data showed on Thursday.Asian spot LNG prices held around $10 last month as a heatwave gripped Japan and high temperatures swept across South Korea and parts of China, boosting cooling demand.The average…
Maritime Thought Leadership: Remi Eriksen, DNV GL
Remi Eriksen, Group President and CEO of DNV GL, has been on the job for nearly three years, taking over at arguably one of the more challenging and pivotal times in maritime history. We met with Eriksen recently in Athens, Greece, for his insights on the markets and DNV GL’s position going forward.While Remi Eriksen’s tenure at the top of DNV GL has coincided almost perfectly with one of the maritime industry’s deepest and longest slumps…
Khaydukov Named President of PAO Novoship
The Board of Directors of Russian tanker shipping company PAO Novoship has elected Alexey Khaydukov as the company’s new President.Khaydukov replaces the firm’s previous President, Yury Tsvetkov, who stepped down from his role on August 8, 2018, following his appointment as a Deputy Minister of Transport of Russia, Head of the Federal Agency for Maritime and River Transport.Prior to his appointment, Khaydukov was Managing Director of SCF Management Services (Novorossiysk) Ltd.
After Soybeans, EU Touts US LNG Imports to Woo Trump on Trade
The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive.In talks to urge Trump to drop hefty new tariffs last month, the EU's chief executive Jean-Claude Juncker agreed to work to increase imports of U.S. soybeans and LNG to the bloc.The EU has long…
Maritime Inspection Made Easy Using Digital Devices
A rigorous marine inspection system is vital for companies operating in Australian and Asian waters. The safety of vessels, maritime equipment and employees all depend on ongoing maintenance, following regulations and effective management. For organizations and firms with assets, equipment and staff working at sea, the need for high-end successful monitoring of conditions is a 24-hour, 365-day job.
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