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Saudi Aramco Resumes Oil Shipments through Bab-El-Mandeb Strait
Saudi Arabian oil major Saudi Aramco has resumed oil shipments through Bab-El-Mandeb Strait that were halted at the end of July after the attacks on two very large crude oil tankers.
"The company will continue to monitor the situation and remain ready to take necessary actions in efforts to constantly ensure the safety and reliability of supply to its customers through its wide network which has the flexibility to export oil through multiple ports," Saudi Aramco said, adding it would take all necessary actions to safeguard people, assets and the environment.Posted On:7-Aug-2018
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DP World Buys Shortsea Operator Unifeeder
Dubai-based port operator DP World is to acquire Unifeeder Group, the largest Pan-European feeder and shortsea operator.
On August 7, DP World signed the agreement to acquire 100% of Unifeeder for EUR 660 million (around USD 763.6 million) from the company s majority owner, Nordic Capital Fund VIII, and certain minority shareholders. As informed, the acquisition is subject to regulatory approvals and is expected to close in Q4 2018.Posted On:7-Aug-2018
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G E Shipping Inks Deal to Purchase Secondhand VLGC
India-based shipping company Great Eastern Shipping (G E Shipping) has reached an agreement to expand its fleet with a very large gas carrier (VLGC). Namely, the company informed that it signed a contract to buy a secondhand 81,605 cbm VLGC. G E Shipping said that the 2006-built unit is expected to join its fleet in the second quarter of the 2019 fiscal year.Posted On:7-Aug-2018
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UN: Hudaydah Port Interruptions Would Be Catastrophic
The escalating conflict in Hudaydah Governorate, Yemen, poses a threat to the region s port, which, together with nearby Saleef, are the lifeline for the majority of the country s imports of essential goods like food and fuel.
Speaking to the United Nations Security Council on Yemen Director of Operations and Advocacy division of UN s Office for the Coordination of Humanitarian Affairs, John Ging, insisted that keeping the ports open is critical. "Sustained hostilities in Hudaydah city, interruptions to the port operations or a siege of the city would be catastrophic and must be avoided," he said.Posted On:7-Aug-2018
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MOL 1st Japanese Firm to Issue Green Bonds Targeting Individual Investors
Japanese shipping company Mitsui O.S.K. Lines (MOL) has unveiled a plan to issue green bonds through a public offering in the country s domestic market.
To foster a deeper understanding of the MOL Group s environmental initiatives among stakeholders, the bonds are targeted to both institutional and individual investors. This is the first time a company in Japan has issued green bonds aimed at individual investors, as explained by MOL. The company s 20th and 21st series unsecured corporate bonds are expected to be issued in August and September 2018, respectively.Posted On:7-Aug-2018
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MISC s Earnings Drop amid Poor LNG Performance
Malaysian shipping group MISC Berhad witnessed a drop in its earnings, mainly due to a slowdown in the liquefied natural gas (LNG) sector. The company s revenue was at RM 2.14 billion (USD 524.5 million) for the quarter ended June 30, 2018, dropping by 7% compared to MYR 2.3 billion reported in the same period a year earlier.
Operating profit dropped to MYR 347 million from the corresponding quarter s profit of MYR 717.4 million, while its profit after tax dipped to MYR 309.2 million from MYR 553.8 million seen a year earlier.Posted On:7-Aug-2018
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SFI s Fire-Stricken Super Tanker Taken under Tow
Front Hakata, a very large crude carrier (VLCC) owned by John Fredriksen s Ship Finance International, which was adrift following an engine fire, has been taken under tow, according to the Japanese Ministry of Land, Transport and Tourism.
The ship suffered an engine room fire on August 5 while anchored near Chiba Prefecture, Japan, fully loaded as it was pending docking in Chiba.
According to local reports, the fire has been extinguished and there is no danger of it spreading to cargo tanks. There have been no injuries to the 25 crew members on board and no reports of environmental pollution.Posted On:7-Aug-2018
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Unipec Halts Crude Oil Imports from U.S.
China International United Petroleum & Chemicals Co. (Unipec), a wholly-owned subsidiary of China s oil major Sinopec, has reportedly suspended imports of crude oil from the United States amid ongoing trade tensions between the two countries, Reuters informed citing unnamed sources.
Based on the report, it is not clear until when will the suspension last, however, it appears that Unipec has no bookings for U.S. crude oil until October. Nevertheless, the company, which is the world s largest charterer of VLCCs, is likely to continue trading U.S. crude.Posted On:7-Aug-2018
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Scorpio Bulkers to Partially Finance 12 Ships with New Loan
Monaco-based bulker owner Scorpio Bulkers has received a commitment for a loan facility of up to USD 184 million. The loan facility, secured from Nordea AB, acting through its New York branch, and Skandinaviska Enskilda Banken AB, will be used to finance up to 60% of the fair market value of six Ultramax dry bulk vessels and six Kamsarmax dry bulk vessels.
The units in question are SBI Athena, SBI Thalia, SBI Zeus, SBI Hera, SBI Poseidon and SBI Apollo, while the Kamsarmaxes include SBI Conga, SBI Bolero, SBI Sousta, SBI Rock, SBI Reggae and SBI Mazurka.Posted On:7-Aug-2018
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Colombia: Over a Ton of Cocaine Found on Containership
More than one ton of cocaine hydrochloride has been seized on board a Singapore-flagged boxship in the waters near Barranquilla, the Colombian Navy said.
The 9,814 TEU Cap San Tainaro left the Port of Cartagena on August 1, 2018, heading for the Port of Antwerp in Belgium. The country s navy intercepted the Post-Panamax vessel in a joint operation conducted together with the coast guard and other agencies.Posted On:7-Aug-2018
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Kalmar wins fleet solution order from ACFS Port Logistics
Kalmar, part of Cargotec, has won an order to provide Kalmar Fleet Solution of mobile equipment to Australian Container Freight Services (ACFS) operations in Adelaide, Fremantle and Melbourne. This order, comprising a total of 3 units of DCG100 Empty Container Handlers and 2 units of DRG450- Reachstackers, has been booked into Cargotec 2018 Q2 order intake.
ACFS is the largest privately owned Container Logistics operator in Australia. With extensive knowledge and experience across the warehousing, transport and freight logistic sectors. ACFS facilities are strategically located close to port locations nationally, as they are fully committed to provide a "full port to customer door" container freight logistic service throughout the nation.Posted On:7-Aug-2018
Credits: www.bunkerportsnews.com |
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British Ports Association to look at opportunities and challenges for coastal shipping
The British Ports Association (BPA) will be holding a short targeted seminar on Thursday 29 November to discuss coastal shipping in the UK with ports and operators. In comparison with other transport modes, shipping is an efficient and environmentally sustainable option. Utilising the UK s hundreds of ports in supporting more coastal shipping has the potential to improve connectivity between regions.Posted On:7-Aug-2018
Credits: www.bunkerportsnews.com |
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Oil exports from Shahid Bahonar rise by 40%
Oil exports from the Shahid Bahonar port in the south of Iran has increased by 40% over the past four months, according to the director general of the port.
According to the Iran s Ports and Maritime Organization (PMO)-Hormozgan province branch, the director general of the Shahid Bahonar port Hamid Reza Mohammad Hosseini presented a report on the exports of oil products through the Shahid Bahonar port over the past four months (since the start of the Iranian year on March 21), indicating a 40% increase in the exports compared to the same period last year.Posted On:7-Aug-2018
Credits: www.bunkerportsnews.com |
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