IFM, Vitol and VIP Take Joint Ownership of Vitol Tank Terminals International
Vitol Investment Partnership(VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global provider of investment services to institutional investors…
Samjin Shipbuilding to Deliver Christiane Oldendorff Soon
Dry bulk shipping firm Oldendorff Carriers said that the bulk carrier newbuilding MV “Christiane Oldendorff” (charter name “Midland Trader”) of 36,000 tdw will be…
Kosmos Energy, Shell Form Alliance
Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore…
Manila Ports Utilization Remains Healthy
Philippine Ports Authority (PPA) informed that the cargo volume in the country has registered a modest hike in the first seven months of the year despite the sluggish…
AtoB@C Shipping Acquires Dry Cargo Carrier
The Swedish shipping company owned by Aspo's ESL Shipping, AtoB@C Shipping has acquired a 4,100 dwt dry bulk carrier of ice class 1A built in 2000. Previously, AtoB@C…
WFW Advises DNB on USD310m Loan to Star Bulk Carriers
International law firm Watson Farley & Williams (WFW) advised Norway’s DNB Bank ASA (DNB), as facility agent and security agent for a syndicate of banks comprising itself…
First LP-SCR System Successfully Completed in M/V Southern Pearl
The first commercial Low Pressure SCR system (LP-SCR)system from Japan Engine Corporation (J-ENG) has entered service onboard a major Singaporean container lines…
LNG Trade to Increase by 10% in 2020
Dominated by new U.S. volumes, liquefied natural gas (LNG) trade is expected to increase by 10 percent per annum from 290 million tons in 2017 to around 388 million tons in 2020…
FLNG Hilli Episeyo Operates in Full Capacity
Golar LNG Limited confirmed that FLNG Hilli Episeyo continues to operate with 100 percent commercial availability.Currently in the process of exporting its 10th LNG cargo…
Virtual Reality Training for Maritime
Recognizing the appeal of virtual reality (VR) for engaging seafarers who need training as they enter and advance through the maritime industry, KVH Videotel and OMS-VR has announced a letter of intent to enter into an exclusive agreement to produce and distribute VR maritime training. Coinciding with the announcement, KVH Videotel will be providing a demo of VR training during the CrewConnect Global Conference in Manila tomorrow and Wednesday…
Great Lakes Iron Ore Trade Up in October
Shipments of iron ore on the Great Lakes totaled 5.8 million tons in October, an increase of 5.7 percent compared to a year ago, the Lake Carriers' Association reported. Shipments also outpaced the month’s 5-year average by nearly 9 percent,Year-to-date the iron ore trade stands at 44.7 million tons, a decrease of 1.8 percent compared to the same point in 2017. The shortfall has been decreasing over the course of the shipping season.
RH Marine Studies Safe Autonomous Sailing
Dutch company RH Marine has started a three-year research in order to let ships sail autonomously in a safe way. The study aims to develop algorithms which enable unmanned self-propelled vessels to sail efficiently from A to B, which recognize dangerous situations and learn to avoid these dangers.The research is part of the larger European project Safer Autonomous Systems (SAS) under the direction of the KU Leuven (BE), in which the safety of various autonomous systems is being researched.
Timas Suplindo Charters Telford Construction Vessel
Dubai-headquartered offshore services provider Telford Offshore said it has been awarded a charter party from Indonesian contractor Timas Suplindo for its DP3 multipurpose accommodation and offshore construction vessel Telford 25.The three-month contract, with options to extend, will see Telford 25 support a range of services for the TSB Phase 2 Development offshore Indonesia.“Over the course of this…
Baltic Index Falls as Capesize Rates Decline
The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, slipped 2 percent on Monday, hurt by falling demand for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 29 points, or 2 percent, to 1,428 points, its biggest percentage drop since September 13.* The capesize index dipped 105 points…
WISTA Elects New BoD, Honors 2018 Personality of the Year
Kathy Metcalf, CEO of the Chamber of Shipping of America, was honored as the 2018 WISTA International Personality of the Year.New WISTA BoardWomen's International Shipping and Trading Association (WISTA) elected Connie Roozen, Director of C&B More (WISTA the Netherlands) as Treasurer and Angie Hartmann, Vice President Crew Affairs, Starbulk S.A. (WISTA Hellas) as Board Member, to the WISTA International Executive Committee at their 38th International Annual General Meeting in TromsØ…
US Grants Temporary Iran Oil Waivers to Eight Countries
The United States has granted exemptions to eight countries allowing them to temporarily continue buying Iranian oil, Secretary of State Mike Pompeo said on Monday, as Washington reimposed sanctions on Iran's banking, energy and shipping industries.Some of the eight countries - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea - include OPEC member Iran's top customers.Pompeo said more than 20 countries have already cut their oil imports from Iran, reducing purchases by more tha
U.S. DOJ Announces Environmental Crimes Conviction
German Shipping Operator Sentenced to Pay $3.2 Million for Obstruction of Justice and Falsifying Official Logs to Hide Deliberate Oil Pollution. The previously Convicted Company Committed Environmental Crimes While on Probation.A German shipping company, MST Mineralien Schiffahrt Spedition und Transport GmbH (MST), pleaded guilty and was sentenced today in Portland, Maine, for obstruction of justice and for maintaining false official records to conceal deliberate pollution from one of its ships…
Regulatory Reform: Good Ideas … Ready to Start?
Regulatory reform is one of President Trump’s priority agenda items. Upon taking office, the President issued a number of Executive Orders focusing attention and demanding action on the myriad of regulations impacting American businesses.Last May, the reform spotlight fell on maritime regulations when the White House Office of Management and Budget (OMB), published a Request for Information (RFI) on…
Daewoo Wins Contract to Build Three Vessels
Daewoo Shipbuilding & Marine Engineering says it signs $273 mln order.Daewoo Shipbuilding & Marine Engineering Co Ltd says has signed an order worth 306 billion…
SSY Pacific Capesize Index rise by 36 points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rise by 36 points in the week ending Monday to 6,148.The SSY Pacific Capesize Index was almost unchanged week-on-week at 6,148 points as further robust rate increases on backhaul routes were cancelled out by lower earnings on South Africa-China iron ore and coal trades. The W.Australia-China iron ore spot rate edged up to $8.65/t, while there was a $300/day decline in the Pacific round-voyage rate (180k dwt) to $19,000/day.By Reuters
