The third phase of an IMO-implemented project to enhance safe and environmentally sound ship recycling in Bangladesh has been given the go-ahead, with Norway committing approximately US$1.5 million (14 million Norwegian Kroner) to support improved ship recycling in Bangladesh.
Oman has become the latest country to ban the use of open-loop scrubbers in its territorial waters.
Bahri, the world’s largest owner and operator of very large crude oil carriers (VLCCs), recorded a surge of 1,569% in its net profit for the second quarter of 2020, reaching SAR 760.61 million ($ 202.7 million).
The European Union is supporting Member States’ shift to greener fuels for transport with new funding commitments.
Brokers report Shoei Kisen has tapped sister company Imabari Shipbuilding, Japan’s largest shipyard, to construct three 11,500 teu ships for 2022 delivery. The vessels will go on charter to Taiwan’s Yang Ming.
Finland’s Port of Helsinki has received financial support from the EU for port investment projects on the Helsinki–Tallinn and Helsinki–Travemünde routes, as well as for installing an onshore power system for the Hernesaari cruise services.
Piraeus-headquartered GasLog and GasLog Partners have secured three new loan agreements to refinance the groups debt maturities due in 2021.
Three crew members of the Maltese-flagged Samus Swan oil and chemical tanker have been released from a hospital in Spain, after testing negative for the coronavirus twice, the ship’s managers Uni-Tankers confirmed to Offshore Energy-Green Marine.
Singapore has retained the top spot as international shipping centre for the seventh consecutive year, based on the 2020 Xinhua-Baltic International Shipping Centre Development (ISCD) index.
German shipping major Hapag-Lloyd has confirmed coronavirus cases on two more containerships.
The world’s largest cruise liner company Carnival Corporation is about to shed 13 ships from its fleet though demolition and sales deals as it works on cutting maintenance costs and curbing the impact of the COVID-19 pandemic on its business.
Several industry majors led by the Port of Rotterdam are rolling out a new pilot blockchain project, in which containers are handled and released without a PIN code: a widely used verification method in this transport segment.
Globalisation has been one of the buzzwords of the past 25 years.
Maersk, owner and operator of the world’s largest container shipping fleet, has sold a 9, 640 TEU containership Sine Maersk for demolition in Turkey.
The outlook for the global shipping sector for the coming 12 to 18 months remains negative, according to Moody’s new report.
New shipbuilding orders in the first half declined 57% to the lowest levels seen this century, according to data from Clarkson Research Services. Just 269 ships – equivalent to 5.75m cgt – were contracted in the first six months around the world, putting many yards in jeopardy of running out of business in the coming year.
Ship owners have intensified their interest towards second hand dry bulk carriers, most notably Capesizes, as a result of the recent market rally. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, a very strong week in terms of activity noted was due. The main driver was the Capesize segment, where a significant number of vessels changed hands as of late. This, however, may well be down to the mere fact that we have seen an excessive bullish trajectory in freight returns during the past month or so. Moreover, given the general improved levels in freight rates and the better sentiment, it is yet to be seen whether we will continue seeing a very vivid SnP market, with an attuned buying appetite being shared across all the main size segments. On the tanker side, a w-o-w growth in transactions was noted, with overall activity though remaining at relatively uninspiring levels for a fair period now. During the past week, we saw a fair movement only…
Container shipping major Mediterranean Shipping Company (MSC) has joined the Smart Maritime Network, an industry membership group focused on increasing the compatibility, standardization, and harmonization of the technology used in the shipping industry.
Container lines have done well during the global pandemic, but are they profiteering from the crisis and can anything be done to prevent more carrier-shipper animosity?
Chinese state-run shipping giant Cosco Shipping has entered into an agreement with e-commence conglomerate Alibaba and its fintech affiliate Ant Group to collaborate on blockchain applications in shipping.
A consortium comprising C-Job Naval Architects, LISA, SeaZip Offshore Service, Sea Machines, MARIN, and eL-Tec elektrotechnologie has unveiled a concept design for an Autonomous Guard Vessel (AGV), to be used for surveillance of offshore wind infrastructure, from wind farms to substation platforms and cable routes.
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