K Line Gets $406M Loan
Japanese shipping company Kawasaki Kisen Kaisha (K Line) has decided to raise JPY 45 billion (USD 406 million) through a new subordinate loan.According to a stock exchange annoucement…
COSCO Signs LSFO Supply Deal with Petro China
Chinese state-owned Shipping and logistics services supplier company COSCO Shipping Lines has signed a low sulfur fuel oil (LSFO) supply agreement with Double Rich Limited…
Visser Shipping Installs Scrubber in Boxships
Netherlands-based Visser Shipping has signed a contract with exhaust gas cleaning system (EGCS) supplier Value Maritime to outfit three container ships with scrubbers…
TMS Cardiff Gas Charter Pact with Vitol
Greece-based TMS Cardiff Gas, an operator and manager of 16 liquefied natural gas (LNG) Carriers, announced that it has entered into a ten year time charter contract with Vitol…
Long Beach Forecast Modest Growth
A slowing domestic economy will likely lead to a moderate uptick in container imports through 2019, following a robust year that was marked by record-high cargo growth amid a trade dispute with China…
Overmarine Delivers Third MO43
Family-run shipyard Overmarine has delivered Mangusta Oceano 43, the third 43-meter yacht in the Mangusta Oceano series of displacement vessels, previously known…
Marshall Joins Ecochlor
Ecochlor announced Andrew Marshall as its new Vice President of Business Development, to oversee the sales, marketing and communications team, manage major client accounts, and develop strategies to increase revenue growth and profitability.“Marshall is a seasoned executive and comes to Ecochlor with a proven track record of international business development. His results-driven aptitude brought other…
Quieter Shipping: Noise Exploration Program
Port of Rotterdam Authority said that NEPTUNES - a new quality mark - aims to offer ports the opportunity to reward quieter shipping.NEPTUNES is a project organisation…
MOL, Karpower Team-up for LNG-to-Powership Biz
Japanese shipping company Mitsui O.S.K. Lines (MOL) and Turkey’s floating power plant company Karpower International B.V. (Karpowership) have agreed to collaborate…
Fairfax Invests in Seven Islands Shipping
Toronto-based investment holding company Fairfax India Holdings Corporation has invested approximately $72.1mln in Seven Islands Shipping Limited, a Mumbai-based…
Port of Corpus Christi Readies VLCC Terminal
The fourth-largest port in the United States in total tonnage, Port of Corpus Christi has leased land where it hopes to build the nation's first export terminal…
GA Drilling Gets Fund, Signs Pact with MOL
High-tech deep-drilling company GA Drilling signed a EUR 4.2 million funding agreement with Lead Ventures and a service agreement with MOL Group.Lead Ventures, a…
Maersk Aborts Sale of Maersk Supply Service
The world's largest container shipping company A.P. Møller – Mærsk A/S announced that its Board of Directors has decided to retain full ownership of Maersk Supply…
Hapag-Lloyd Seals 'Dublin Express' Leak
Fuel leak from the Hapag-Lloyd container ship “Dublin Express” berthed at Global Marine New York Container Terminal in Staten Island, in the Arthur Kill waterway near the Goethals Bridge…
Port of New Orleans to buy New Gantry Cranes
New Cranes Allow Port NOLA to Accommodate Larger Ships and Meet Growing Needs. The Board of Commissioners of the Port of New Orleans (Port NOLA) have voted to approve the purchase of two new 100-foot gauge container gantry cranes to be used at the Napoleon Avenue Container Terminal. “These new cranes are vital to our success and growth here at Port NOLA,” said President and CEO Brandy D. Christian.
Companies Sue Valero for Bad Marine Fuel
Two companies filled lawsuits this week in federal courts in Texas alleging that ships they operated in 2018 were damaged by contaminated bunker fuel sold by a Valero Energy Co subsidiary Valero Marketing and Supply Co, according to court documents.A Valero spokeswoman did not reply to a request for comment.The National Shipping Co of Saudi Arabia said it paid out more than $1.1 million for repairs…
Twin Disc Breaks Ground in Texas
Twin Disc, Inc. broke ground recently on its new operations facility in Lufkin, Texas, scheduled to open in January 2020.The new 50,000-square-foot manufacturing facility will focus on producing power take-offs and clutches for heavy duty industrial equipment. The main purpose of the facility is to assemble the company's complete industrial product line and to be a distribution center for all new products…
ClassNK Releases Cyber Security Approach
Classification society ClassNK has released the ClassNK Cyber Security Approach which outlines its basic approach to ensuring onboard cyber security for ships. It was released alongside its Guidelines for Designing Cyber Security Onboard Ships for newbuilding designs as the first part of the ClassNK Cyber Security Series which incorporates requirements for taking onboard cyber security measures.Response to cyber threats is an urgent matter for the entire maritime industry.
Kongsberg to Equip Belgian Research Vessel
Kongsberg Maritime will deliver an integrated suite of subsea technology to a new Belgian research vessel. Already under construction at Freire Shipyard in Vigo, Spain, the advanced new replacement for the Belgian research vessel RV Belgica is due to be handed over to the Belgian Federal Science Policy Office (BELSPO) in October 2020.Launched in 1984, RV Belgica carried out many years of service, however, emerging mechanical issues in 2013 catalyzed plans to build her replacement.
COSCO Shipping Flags Risks From Oil Price, Trade Dispute
China's COSCO Shipping Holdings Co Ltd said trade frictions and high oil prices pose risks for the global shipping industry this year, after confirming on Friday that its net profit for 2018 fell by more than half.The state-owned company, the world's third largest container shipping line, said net profit attributable to shareholders slid 53.8 percent to 1.2 billion yuan ($178.83 million) last year…
