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.: 27-Feb-2019 :. Search News
Displaying 1 to 14 of Records.
Page 1 of 1
 1  

Shipping Majors Cleared in US Cartel Investigation
The U.S. Department of Justice has closed a two-year investigation into alleged price fixing by a group of major container shipping lines.
The investigation, which was unveiled in March 2017, was closed without filing charges or imposing fines. The process started when U.S. officials walked into a meeting of the industry s 20 biggest companies and handed out subpoenas to top executives at several companies, including Danish giant Maersk, Swiss Mediterranean Shipping Company (MSC) and Hong Kong-based Orient Overseas Container Line (OOCL).
"This is an important decision where the global container shipping industry has, once again, been fully investigated and exonerated. MSC is pleased to move forward, now that this matter is closed," the world’s second largest carrier told World Maritime News.
Maersk also confirmed that the U.S. DOJ closed the investigation into containerized shipping and released the company from any obligations under the Grand Jury subpoenas issued during the March 2017 meeting of the International Council of Containership Operators.
"Maersk provided its full cooperation to the DOJ throughout the investigation, and we believe the DOJ s decision to release Maersk reflects our strong commitment to competition compliance governance and structures over the years," Camilla Jain Holtse, Head of Competition Law & Policy, A.P. Moller - Maersk, said.
"We will continue to foster effective compliance through training and supporting our employees, monitoring our activities, and working cooperatively with authorities on regulatory matters whenever relevant," Holtse added.
Furthermore, OOCL s Stephen Ng, Director of Trades, confirmed that that company was notified about the development, adding that OOCL is "pleased to see that the case has been dropped."
The probe was launched amid concerns over possible anti-competitive behavior by container shipping companies after the carriers asked the U.S. Federal Maritime Commission (FMC) for approval to form the Ocean and THE alliances.

Posted On:27-Feb-2019



Golar LNG Secures Deals for Another FLNG Project
Gimi MS Corporation, a newly incorporated subsidiary of LNG shipping firm Golar LNG Limited, has entered into a 20-year lease and operate agreement (LOA) with BP for the charter of an FLNG unit, Gimi.
Expected to commence production in 2022, the FLNG unit will liquefy gas as part of the first phase of the Greater Tortue Ahmeyim project and be located on the Mauritania and Senegal maritime border.
FLNG Gimi is designed to produce an average of approximately 2.5 million tons of LNG per annum, with the total gas resources in the field estimated to be around 15 trillion cubic feet.
Concurrent with its entry into the LOA, Gimi MS has entered into a subscription agreement - subject to closing conditions - with First FLNG Holdings, an indirect wholly-owned subsidiary of Keppel Capital, in respect of their participation in a 30% share of FLNG Gimi.
As informed, Gimi MS will construct, own and operate FLNG Gimi and First FLNG Holdings will subscribe for 30% of the total issued ordinary share capital of Gimi MS for a subscription price equivalent to 30% of the project cost.
Construction of FLNG Gimi is expected to cost approximately USD 1.3 billion, excluding financing costs.
Keppel and Golar have previously partnered on the FLNG Hilli Episeyo, the world s first FLNG conversion project, which has been a successful proof of concept as a quick and cost-efficient solution for monetizing stranded gas reserves. Hilli Episeyo has maintained 100% uptime since commencing commercial operations in June 2018 and consistently despatched two LNG cargoes each month.
"The potential of Golar s floating LNG solution was reinforced by FLNG Hilli Episeyo s proof of concept, Heads of Terms were agreed with BP and its partners in April 2018 and work has been ongoing via the previously reported Limited Notice to Proceed," Iain Ross, Golar CEO, said.
"We are pleased to further strengthen Keppel s relationship with Golar in capturing growing opportunities in the LNG space. This transaction reflects Keppel s confidence in the prospects of the FLNG sector," Loh Chin Hua, CEO of Keppel Corporation, commented.
"The Gimi investment can also be a seed asset for a possible infrastructure fund managed by Keppel Capital in the future. After the asset has been completed and de-risked, the 30% interest may be injected into Keppel Infrastructure Trust," he continued.
With the funds from the subscription of shares by its shareholders, Gimi MS will acquire and own the Moss LNG carrier Gimi which will be converted into an FLNG vessel by Keppel Shipyard.
In December 2018, Keppel Shipyard received the limited notice to proceed from Golar to commence early conversion works. The carrier has been relocated from layup to Keppel Shipyard in Singapore where conversion works will soon start.

Posted On:27-Feb-2019



Crew Evacuated from Burning Ship off Chioggia, Italy
Eighteen crewmembers of a Belize-flagged general cargo vessel have been evacuated after their ship caught fire off Italy, local authorities informed.
The 8,900 dwt Hala B was anchored near the Port of Chioggia when the fire started in the engine room in the evening hours of February 26, 2016, Guardia Costiera said.
Firefighters were immediately sent to the scene to extinguish the fire with the help of tugs and hydrants, according to Vigili del Fuoco, the country s agency for fire and rescue service.
At the time of the incident, the 1985-built ship was loaded with a cargo of timber.
No injuries have been reported.
An investigation into the exact cause of the incident has been launched.
The 5,586 gross ton Hala B, previously known as South Star, is owned by GMZ Ship Management, data provided by VesselsValue shows.

Posted On:27-Feb-2019



Construction Progresses on Costa Cruises LNG Flagship
Construction of the Costa Smeralda, Costa Cruises new flagship, is continuing at the Meyer shipyard in Turku, Finland.
The yellow funnel with the blue "C", has now been installed, Carnival Corporation, the parent company of Italy-based Costa Cruises, said.
As explained, the funnel is directly connected to one of the main technological innovations in the ship. Costa Smeralda will be the first cruise ship for the world market, specifically the European one, to be fueled, both in port and while at sea, by liquefied natural gas (LNG).
This is an environmental transformation that will improve air quality as LNG almost entirely prevents particulate and sulfur oxide emissions at sea and in port. It also significantly reduces emissions of nitrogen oxides and CO2.
With a gross tonnage of over 180,000 tons and a capacity for 6,600 passengers, Costa Smeralda is scheduled to enter service in October 2019. The newbuild will feature a length of 337 meters and a width of 42 meters.
Delivery of a second ship, the twin to Costa Smeralda, also being built by Meyer-Turku, is planned for 2021.
Costa Smeralda and its twin ship are part of an expansion plan for the Costa Group fleet under which seven new ships will be delivered by 2023, for a total investment of over EUR 6 billion (USD 6.8 billion).
The Panama-flagged Costa Smeralda debut is scheduled for October 20, 2019, with a 15-day inaugural cruise from Hamburg to Savona. The naming ceremony will take place in Savona on November 3, 2019.
On November 4, 2019, a 6-day inaugural cruise will depart from Savona for Barcelona, Marseilles and Civitavecchia. Costa Smeralda will then continue to sail in the Western Mediterranean until April 2021, according to the company.

Posted On:27-Feb-2019



ATSB: Bulker Crew Suffered Injuries amid Lack of Safety Measures
Two crew members on board the bulk carrier Shanghai Spirit suffered serious injuries after failing to adhere to safety procedures, an investigation by the Australian Transport Safety Bureau (ATSB) found.
The incident occurred in late January 2017, when the 140-meter bulk carrier was anchored in Keppel Bay, about 15 nautical miles north-east of Port Alma Queensland.

Posted On:27-Feb-2019



Milaha s Annual Profit Rises by 10 Pct
Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) closed 2018 with a 10% rise in its net profit.
The company delivered a net profit of QAR 516 million (USD 141.7 million) for the twelve months ended December 31, 2018, compared to QAR 470 million for the same period in 2017.

Posted On:27-Feb-2019



Fincantieri Delivers Record Revenues and Total Backlog
Italian shipbuilding giant Fincantieri reported a further increase in its revenues in 2018, with a record-high total backlog.
The company said that its revenues were at a record level, rising by 9% to EUR 5.47 billion from EUR 5 billion reported in 2017. The shipbuilding segment recorded an overall increase in revenues of 9.6%, with the revenues from cruise ships increasing by 6.4% and the revenues from naval vessels increasing by 18.3%.

Posted On:27-Feb-2019



Greek Diana Containerships Becomes Performance Shipping
Greece-based containership owner Diana Containerships is changing its name to Performance Shipping Inc.
At the company s annual meeting of shareholders held on February 19, 2019, shareholders decided to change Diana’s name to Performance Shipping which is expected to be effective as of the date hereof.

Posted On:27-Feb-2019



Algeciras terminal reports record volumes
APM Terminals Algeciras hit a new high in 2018 as it handled a total of 217,000 gate moves - achieving its highest volume ever in the terminal history. The record figure translates to a 21 percent increase in number of gate moves compared to the previous year.
While the Algeciras terminal has seen an upward trajectory in container handling for years now, it was in 2016 when the transhipment hub started making headway with the installation of the automatic gate.

Posted On:27-Feb-2019



Credits: www.bunkerportsnews.com

Cargo traffic keeps steady growth in 2018; tipped to grow by 10% this year
The country s two seaports handled combined cargo traffic of over 23million metric tonnes last year, representing an 8 percent increase over the 21 million metric tonnes recorded in 2017, the Ghana Shippers Authority (GSA) has said.
The Port of Tema handled 15.50 million metric tonnes of the total traffic, representing 67 percent of the total seaborne trade, while the Port of Takoradi recorded 7.62 million metric tonnes, representing 33% of the total seaborne trade.

Posted On:27-Feb-2019



Credits: www.bunkerportsnews.com

Saudi Arabia invites firms to prequalify for port project
Saudi Ports Authority (Mawani) has invited firms to prequalify by 14 March for the contract to build a quay wall in the northern area of the multipurpose terminal at Dhiba Port.
Dhiba Port is located on the north end of the kingdom s Red Sea coast and is the nearest Saudi port to the Suez Canal.

Posted On:27-Feb-2019



Credits: www.bunkerportsnews.com

Obtaining the building permit for e-Valley
A new milestone has just been reached for BT-Immo, promoter of the e-Valley project, concerning the conversion of the former site of the 103 air base in Cambrai.
For the first time in Europe, with more than 700,000 sqm of warehouses on 355 hectares, the creation of a real ecosystem entirely dedicated to e-commerce and hybrid business will see the light of day and make e-Valley the French pioneer in this field: more than just a storage space for e-merchants and e-logisticians, it will also offer an unequaled level of services.

Posted On:27-Feb-2019



Credits: www.bunkerportsnews.com

British chemicals firm Croda stockpiling, reviewing ports ahead of Brexit
Speciality chemicals maker Croda International Plc said on Tuesday it had made changes to its trading model in Europe and was stockpiling goods in continental Europe as it prepares for Britain s impending exit from the European Union.
The company - which counts Unilever Plc, Procter & Gamble Co, L Oreal SA as customers - also reported pretax profit for the full year that missed estimates.

Posted On:27-Feb-2019



Credits: www.bunkerportsnews.com

Chabahar Port result of healthy cooperation between India, Iran, Afghanistan
In a significant development, the landlocked Afghanistan began exports to neighboring India through the strategic port of Chabahar on Sunday.
At the inauguration ceremony of the new export route in Nimruz that would allow the war-ravaged country have access to markets overseas, President Ashraf Ghani said Afghanistan was slowly improving its exports in a bid to reduce its trade deficit.

Posted On:27-Feb-2019



Credits: www.bunkerportsnews.com
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