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.: 25-Sep-2019 :. Search News
Displaying 1 to 19 of Records.
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CMA CGM Launches First 23,000 TEU LNG-Powered Giant
French shipping major CMA CGM has launched the first of its 23,000 TEU LNG-powered containership giants.
Rodolphe Saade, Chairman and CEO of CMA CGM, confirmed the development via twitter, saying that with the launching "we demonstrate that energy transition can be effectively successful in our industry if all the players work together."
The first of the nine newbuildings is named after CMA CGM founder Jacques Saade.
In November 2017, the company decided to be the first shipowner in the world to equip its nine future 23,000 TEU vessels with engines powered by LNG.
CMA CGM confirmed the USD 1.2 billion worth order for the boxship giants in September 2017, a month after market rumors on the order emerged.
At the time, the company said that the new ships "will further reduce unit transport costs, particularly on the Asia-Europe routes."
In 2022, the CMA CGM fleet will count 20 LNG-powered vessels, including the nine 23,000 TEUs, scheduled to start joining the fleet from 2020, five 15,000 TEU containerships, as well as six vessels of 1,400 TEUs, of which 3 have already been delivered to Containerships, the group s intra-Europe subsidiary.

Posted On:25-Sep-2019



New European Project to Develop Smart Navigation Systems for Ships
A consortium of Swedish, Norwegian and German partners has been given the go-ahead for their research and innovation project Prepare Ships that is expected to increase safety and efficiency in shipping.
The 26-month project, which is scheduled to start in December this year, has been recently granted funding through the European GNSS Agency (GSA).
As explained, the goal of Prepare Ships is to a positioning solution for smart and connected navigation applications.
Led by RISE Research Institutes of Sweden, it will develop a navigation system that foresees the positions of other vessels through machine learning. This would reduce the risk of collisions and enable more efficient navigation.
"We are very pleased to be able to bring together the shipping value chain in this project that uses advanced machine learning," John Rune Nielsen, Research and Business Development Director at RISE, commented.
One of the main causes of ship collisions today is lack of awareness of the position and intention of other vessels. By being able to predict future positions for vessels in the vicinity with high position accuracy by EGNSS and machine learning and exchange these dynamic predictions with the vessels nearby with VDES, smarter decisions can be made. In addition to reducing the risk of collisions, this allows for more energy-efficient maneuvering of the vessels, which contributes to the reduced environmental impact of shipping, according to RISE.
Apart from RISE, the project also includes Telko from Norway, SAAB from Sweden, ANAVS from Germany, Swedish mapping, cadastral and land registration authority (Lantmäteriet) and is supported by Stena Line (Sweden).
"Prepare Ships will combine technologies supporting officers on manned ships as well as shore-based operators controlling unmanned ships and can compensate for the shortage of experienced marines. The developed product shall also be applicable to other applications requiring high accuracy, highly robust position, also enabling yet unidentified markets," Pal Hansen, Vice President R&D, Telko, said.

Posted On:25-Sep-2019



Alphaliner: Box Volumes to Continue Rising despite Ongoing Trade War
Global container throughput is still expected to grow, despite rising trade tensions and weaker global GDP growth, Alphaliner said.
Aggregate container port throughput is set to increase by 2.5 percent in 2019, down from the 3.5 percent growth estimate the consultancy released at the beginning of this year.
However, the escalating trade tensions will have a negative impact on container volumes, with the TEU-to-GDP growth multiplier expected to fall to less than 1 in 2019. The multiplier has seen a steady decline over the last 30 years from over 3 times in the decade from 1990 to 2000, to less than 1.5 times since 2010.
In the second quarter of this year, total container volumes grew by an estimated 2.8 percent globally, rising marginally from 2.7 percent in the first quarter. The preliminary growth rate was slightly above the first quarter’s rate as the ongoing Sino-US trade war failed to bring down overall container volumes.
Volume growth at Chinese ports - including Hong Kong - slowed to 3.5 percent in the second quarter, compared to 4.2 percent in the first.
On the other hand, ports in Europe registered the strongest gains in the second quarter, led by Rotterdam and Antwerp that reported gains of 5.5 percent and 9.1 percent respectively.
North American volumes dropped to 2.9 percent in the second quarter of 2019 from 4.7 percent a quarter before. Combined volumes at the Port of Los Angeles/Long Beach fell by 0.5 percent in the quarter, but all other main North American ports registered volume gains, Alphaliner informed.
Earlier this week, expressing their concerns about the impacts of the trade war between the US and China, the six largest US West Coast ports sent a letter to President Trump. In the letter, they highlighted that exporters are losing market opportunities through increased tariffs on sales to China.
The Port of Long Beach, Port of Los Angeles, Port of Oakland, Port of Portland, Port of Seattle and Port of Tacoma said the long-term implications of the escalating trade conflict "will make irredeemable economic harm to employers, workers, residents and international partnerships along the West Coast and throughout the entire country."

Posted On:25-Sep-2019



Japan Embarks on Carbon-Free Fuel Combustion Engine Research
Japan s National Maritime Research Institute (NMRI) will work with Japan Engine Corporation (J-ENG) on developing a system for the combustion of carbon-free fuel as a way of contributing to decarbonization.
The announcement comes in the wake of the establishment of a global alliance at the UN Climate Action Summit in New York that will lead the push for shipping s decarbonization.
According to J-ENG, the research will focus on the use of hydrogen and ammonia as fuel. Hydrogen has been recognized as a viable potential alternative fuel with projects related to introducing hydrogen as marine fuel already underway.
As explained, carbon-free fuel is a fuel that does not contain carbon atoms and thus does not emit carbon dioxide, and it is expected to reduce or eliminate greenhouse gas (GHG) as a countermeasure against global warming.
"In particular, hydrogen energy is expected as a promising energy carrier for achieving a decarbonized society, and various studies are being conducted about the liquefied hydrogen and ammonia etc.," J-ENG said.

Posted On:25-Sep-2019



US Sanctions Four More Vessels for Venezuela Ties
Four more companies and four tankers have been sanctioned by the U.S. Department of the Treasury s Office of Foreign Assets Control (OFAC) for moving Venezuelan oil to Cuba.
Namely, the U.S. Treasury said that the latest measures include Cyprus-headquartered Caroil Transport Marine, and the three vessels that the company operates, as well as the Panama-based Trocana World Inc., Tovase Development Corp and Bluelane Overseas SA, the registered owner of the fourth blocked vessel.
In its update, OFAC said that the chemical and products tankers Carlota C, Sandino, and Petion, as well as the crude oil tanker Giralt, recently transported oil and other petroleum products from Venezuela to Cuba.
"The United States continues to take strong action against the former illegitimate Maduro regime and the malign foreign actors who support it. Maduro s Cuban benefactors provide a lifeline to the regime and enable its repressive security and intelligence apparatus," Steven T. Mnuchin, Treasury Secretary, said.
Since the January 28, 2019 designation of Venezuela s state-owned oil company Petroleos de Venezuela, S.A. (PdVSA), Cubametales, the Cuban state-run oil import and export company, and other Cuba-based entities have continued to circumvent sanctions by receiving oil shipments from Venezuela, OFAC explained.
On July 3, 2019, OFAC designated Cubametales for operating in the oil sector of the Venezuelan economy pursuant to E.O. 13850, as amended.

Posted On:25-Sep-2019



FDX Offshore Acquires Womar Logistics
Connecticut-based maritime finance company FDX Offshore has acquired Singapore s tanker pool operator Womar Logistics.
By combining their expertise, the duo wants to build "the best independent pool operator in the shipping industry."
Anchored in Womar s current chemical tanker pools, the partnership intends to both expand its chemical tanker pools as well as initiate and grow independent pools in other classes of ships.
"Womar has had a long and very successful relationship with BW Group. BW has recently sold its chemical tanker fleet, and this transaction is a logical progression for Womar to grow as the best chemical pool operator under new ownership," Hans van der Zijde, Womar CEO, commented.
"We have already been having discussions with many shipowners who are excited about what we have to offer as an independent operator and with FDX s expertise and resources. We look forward to continuing those discussions as well as engaging in new ones now that the news is out," he added.
FDX is led by Managing Partner Jake Scott and Partner Andy Tuchman who will become Womar board members. Formed in 2013, FDX has been providing financial advice and capital sourcing to maritime and energy projects.
"We believe FDX s financial expertise combined with Womar s excellence in pool management will allow us to expand the services provided to pool members, enhance their profitability and help pool members manage and grow their individual fleets," Jake Scott from FDX Offshore said.
Womar added that its entire team will remain in place and provide an ownership transition.

Posted On:25-Sep-2019



MISC, Mitsubishi and NYK to Co-Own New LNG Carrier Duo
Malaysian shipping group MISC Berhad has, through its subsidiary, signed an agreement with Mitsubishi Corporation and NYK to co-own two newbuild LNG carriers.
Featuring a capacity of 174,000 cbm, each vessel will serve Diamond Gas International s LNG carrier requirements worldwide.

Posted On:25-Sep-2019



NYK Orders World s Largest LNG-Powered PCTC
Japanese shipping major Nippon Yusen Kaisha (NYK) has placed an order for what it claims to be the world largest LNG-fueled pure car and truck carrier (PCTC).
A keel laying ceremony for the 73,500 GT vessel was held at NYK s compatriot Shin Kurushima Toyohashi Shipbuilding on September 20, 2019.
The newbuild is scheduled to be delivered in 2020 and will be the first large LNG-fueled PCTC to be built in Japan, according to NYK.

Posted On:25-Sep-2019



Scorpio Tankers Takes Product Tanker Fleet from Trafigura
Monaco-based tanker owner and operator Scorpio Tankers has agreed to acquire subsidiaries of Trafigura Maritime Logistics, which have leasehold interests in 19 product tankers, for an aggregate value of USD 803 million.
The acquisition of the leasehold interest in the vessels includes a finance lease arrangement with a financial institution under a bareboat contract arrangement.

Posted On:25-Sep-2019



P&O Ferries Orders Next-Generation English Channel Ships
Pan-European ferry and logistics company P&O Ferries has signed a contract with China s shipbuilder Guangzhou Shipyard International worth EUR 260 million (USD 286.13 million) to deliver a new generation of ships on the English Channel.
Two new 230-meter super-ferries will be the largest ever to sail between Dover and Calais, the company said.

Posted On:25-Sep-2019



Focus now on port led-industrialisation: Sagarmala Development
Sagarmala Development Corporate Ltd to shift focus on port-led industrialisation to get cargo to ports than looking at new projects. "With infrastructure lying idle at ports, it has been decided not to look at projects to add more capacity at ports. The focus is more port-led industrialisation, which in turn will get cargo to ports," according to a senior official of the three-year old Sagarmala Development Corporate Ltd (SDCL), which assists Central/State/port level/private sector Special Purpose Vehicles with equity support for projects to be undertaken by them.

Posted On:25-Sep-2019



Credits: www.bunkerportsnews.com

Brexit creates opportunities for trade between UK and Port of Antwerp
The uncertainty over Brexit continues but one thing is clear: as soon as the UK leaves the European Union in one way or another, there will be big changes in British imports and exports. Port of Antwerp sees new opportunities here, such as a shift from ferry to container transport.
From truck to ship
With nearly 17 million tonnes of freight in 2018 the UK is the second largest overseas trading partner for Port of Antwerp.

Posted On:25-Sep-2019



Credits: www.bunkerportsnews.com

Iron ore arrivals at Chinese ports fall 2.67 million mt on week
SMM estimates that 68 vessels carrying 11.26 million mt of iron ore arrived at major Chinese ports during September 15-21, down 2.67 million mt from the week ended September 14.
This came after the arrivals ended three consecutive weeks of decline with a 3.08 million mt rise in the week to September 14.
Last week, iron ore deliveries leaving Australian ports shrank 1.15 million mt from the prior week to 13.18 million mt. Shipments that departed Brazilian ports were estimated to climb 670,000 mt on the week to 6.76 million mt.

Posted On:25-Sep-2019



Credits: www.bunkerportsnews.com

Drewry Global Container Port Throughput Index Up 2.8% In July
After experiencing a dip of around 2.5 points in June 2019, the global container port throughput index bounced back to 134.7 points in July 2019. On an annual comparison, the index was 2.8% (3.6 points) higher than 131.1 points in July 2018 and 8.5 points higher when compared with July 2017. We expected container throughput to increase in July, similar to the trend witnessed in the last few years.

Posted On:25-Sep-2019



Credits: www.bunkerportsnews.com

Australia allows Newcastle port to raise shipping fees
Australia will allow the major coal export hub of Newcastle to raise its shipping charges on Tuesday after Treasurer Josh Frydenberg let stand a recommendation by a competition regulator that will let the port set higher fees.
Newcastle, in the state of New South Wales, is an export hub for thermal coal from the Hunter Valley, where Glencore ships out the vast majority of the nearly 60 million tonnes it produces in the region. Yancoal Australia and Whitehaven Coal also both use the port.

Posted On:25-Sep-2019



Credits: www.bunkerportsnews.com

TEN to Raise USD 35 Mn through Private Placement
Tanker operator Tsakos Energy Navigation (TEN) has revealed its plans to collect USD 35 million through a private placement of preferred shares.
Namely, the company entered into a share and purchase agreement with a maritime institutional investor for a private placement of 3.5 million zero coupon Series G Preferred Shares, at a price of USD 10 per share.
The shares will participate on an as-converted basis in any dividends declared and paid on TEN s common shares and will be convertible at any time on a three and one-third forone basis into TEN common shares, the company explained.

Posted On:25-Sep-2019



UAE Joins US-Led Coalition for Maritime Security in the Gulf
The United Arab Emirates has joined the United States-led mission that aims to protect the safety of maritime navigation and international trade.
Salem Mohammed Al Zaabi, Director of the International Security Cooperation Department at the Ministry of Foreign Affairs and International Cooperation, said that the UAE s accession to the International Maritime Security Construct alliance comes in support of regional and international efforts to deter threats to maritime navigation and global trade, and in order to secure the flow of energy supplies to the global economy and contribute to the maintenance of international peace and security.

Posted On:25-Sep-2019



Hunter Tankers 1st ECO VLCC Newbuilding Delivered
Hunter Tankers, a part of Hunter Group ASA, has taken delivery of its first of seven identical ECO design VLCC newbuildings, the Hunter Atla.
The vessel was handed over from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.
Two additional VLCCs are scheduled for deliveries in 2019, while the remaining four vessels would be delivered between March and July 2020.

Posted On:25-Sep-2019



Two Vessels Join JR Shipping s Container Feeder Fleet
The Netherlands-based shipping company JR Shipping Group has expanded its container feeder fleet by purchasing a vessel and entering into a new management contract.
The two vessels, which were transferred to the shipping company, will be registered under the flag of Madeira and sail under the names MV Expert and MV Energy.

Posted On:25-Sep-2019
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