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.: 20-Nov-2019 :. Search News
Displaying 1 to 14 of Records.
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FSL Trust Offloads Two Product Tankers
Singapore-based business trust First Ship Lease (FSL) Trust has decided to dispose of two 109,672 dwt LR2 product tankers.
The ships in question are FSL Piraeus and FSL Perth, built at China s Dalian Shipbuilding Industry Corp in 2006. The product tankers have been recently deployed under pool agreements.
FSL Trust Management, a trustee-manager of FSL Trust, said that subsidiaries of the trust have signed memoranda of agreement (MOA), having received the initial 10% deposit in escrow.
Although FSL Trust has not disclosed the name of the buyer, VesselsValue s data shows that both ships were purchased by Indonesia-based Buana Lintas Lautan which paid USD 19.85 million per tanker.
As informed, completion of the transaction is scheduled to take place before the end of January 2020, at which time the net proceeds will be used for partial repayment of the trust s outstanding bank debt.
In addition, an estimated USD 14.8 million will be used for the newbuilding acquisition announced in December 2018 and April 2019 and for general corporate purposes. FSL Trust currently has two LR2 tankers on order at COSCO Shipping Heavy Industry Yangzhou in China.
As of December 31, 2019, the FSL Piraeus and FSL Perth will be classified as held for sale and the trust will book an impairment charge of approximately USD 5 million on these vessels, according.
Following the sale of the tanker pair, FSL Trust s fleet will comprise sixteen vessels including two chemical tankers, two crude oil tankers, nine product tankers and three containerships.

Posted On:20-Nov-2019



MOL to Order Japan s 1st LNG-Fueled Ferries
Japanese shipping company Mitsui O.S.K. Lines (MOL) and its subsidiary Ferry Sunflower Limited have unveiled plans to construct Japan s first two LNG-fueled ferries.
MOL intends to order the 17,300 GT newbuilds from compatriot shipbuilder Mitsubishi Shipbuilding in December.
Ferry Sunflower will charter the ferries after their delivery and launch them on its Osaka-Beppu route from the end of 2022 through the first half of 2023, as replacements for vessels currently in service.
To be named Sunflower Kurenai and Sunflower Murasaki, the ferries will be quieter than current vessels, according to MOL. With a length of 199.9 meters and a speed of 22.5 knots, each ship will be able to accommodate 763 passengers.
In addition, they will be equipped with dual-fuel engines. The use of LNG fuel will achieve better environmental performance, reducing carbon dioxide (CO2) emissions by 20% compared to current vessels, and virtually eliminating sulfur oxides emissions, MOL explained.
The ferries also embody the environmental impact-reducing technology (Ishin II), which is part of the "Ishin Next - MOL Smart Ship Project". MOL is developing the technology for LNG-fueled vessels and establishing safe operation through development, construction, and operation these new ferries, and promoting the wider use of LNG fuel.

Posted On:20-Nov-2019



Port of Los Angeles, Copenhagen Malm Port Team Up on Sustainable Port Development
The US Port of Los Angeles and Danish-Swedish Copenhagen Malmo Port AB (CMP) have entered into a five-year memorandum of understanding (MOU) to collaborate on sustainability and environmental issues.
Officials from both ports signed the MOU at a ceremony held at the Port of Los Angeles on November 15, 2019.
As explained, the MOU between the two ports focuses on facilitating dialogue, information exchange and sharing of best practices. Key areas of cooperation identified under the agreement include energy use and alternative energy sources, advance clean marine terminal equipment technology, ocean-going vessels and drayage trucks, as well as involvement in global environmental associations and initiatives.
"This agreement further solidifies our partnership with CMP, and our mutual interest in promoting the most efficient, most sustainable goods movement possible," Gene Seroka, Executive Director of the Port of Los Angeles, commented.
"With cooperative information-sharing among ports around the world, the Port of Los Angeles has been able to achieve many of our advancements in reducing environmental impacts from port operations over the last decade."
"We look forward to working with the Port of Los Angeles on how to continuously promote sustainable port development and management," Barbara Scheel Agersnap, CEO of CMP, said.
"In order to accelerate solutions on sustainable matters, we need to push for new technologies and new ways of working. Strong partnerships are key to solid and speedy development - and we hope this agreement will also accelerate cooperation between the green maritime development in our two regions for mutual benefit."
CMP is the largest port operator in the Oresund region, formed in 2001 after completion of the Oresundbridge, a combined railway and motorway connector linking Sweden s Malmo and Denmark s Copenhagen ports. CMP is an important cruise port in Northern Europe and operates Scandinavia s largest logistics hub for new cars.
North America s leading seaport by container volume and cargo value, the Port of Los Angeles facilitated USD 297 billion in trade during 2018.

Posted On:20-Nov-2019



Yale Study Warns of Dangerous Mental Stress Among Seafarers
Seafarers are exposed dangerously high levels of mental stress, a new study carried out by Yale University and commissioned by the Seafarers Trust has revealed.
After questioning seafarers across the world the researchers found that within the previous two weeks 25 percent of them had suffered depression and 17 percent had experienced anxiety.
What is more, 20 percent of all those asked had contemplated suicide or self-harm on several or all those days.
For the first time the study also identified a link between depression, anxiety and suicidal thoughts and a likely increase in injury and illness. The factors associated with these mental states included violence and bullying, lack of job satisfaction, and not feeling valued.
"This morning the report s lead author personally briefed the ITF Seafarers Committee on the findings of this far-reaching and important study. It was a sobering occasion; the gravity of his team s discoveries is evident," Dave Heindel, Chair of the Seafarers Trust, commented.
"They should be taken as a call to action by everyone in the shipping industry."
The study has also identified ways that maritime training institutes, companies, employers, P&I clubs and trade unions can address the problems. These include enhanced support for cadets, a de-stigmatization of mental health within company culture, and a recognition for the need for interventions to address workplace violence.

Posted On:20-Nov-2019



Singapore Maritime Accelerator Selects Inaugural Nine Startups
Singapore-based maritime accelerator Eastern Pacific Accelerator powered by Techstars has unveiled its first class of nine startups selected from hundreds of worldwide applicants.
Earlier this year, shipping company Eastern Pacific Shipping (EPS) partnered with early stage investor and accelerator Techstars to launch the world s first dedicated maritime accelerator.
The startup accelerator aims to bring digital, technology-led solutions to problems faced by one of the oldest trades around - the shipping and maritime industry.
From November 2019, the nine startups from Singapore, Denmark, the UK and the USA will go through an intensive three-month program of research and development, mentorship, and collaboration at EPS headquarters in Singapore. The startups in question are C-Log, CyberOwl, Enermo Technology, F-Drones, Nautilus Labs, QuantShip, Saara Inc, SeaMiles and Volteo Maritime.
As explained, the class of startups was selected with consideration and input from EPS Operations, Marine Technical, Commercial, IT, Fleet Personnel, and Management teams which would work closely with each startup to test their technologies and accelerate their businesses.
"We see a need for technology to propel the maritime industry forward, especially with a rapidly digitalising society and an increase in global trade. That means the shipping industry needs to innovate to solve problems such as fuel consumption, operational efficiency, fleet performance, and improving life-at-sea for seafarers - and we are doing just that with the Eastern Pacific Accelerator powered by Techstars," Gil Ofer, the Head of Open Innovation at Eastern Pacific Shipping, said.
"For these pioneering startups, EPS can provide access to a deep network of industry players, real-world data, and operational insights from our experienced maritime experts that will accelerate the development of their products."
The world s shipping and maritime sector continues to grow, accounting for around 90 percent of all goods moved globally, spanning over 50,000 vessels and over a million seafarers, according to the International Chamber of Shipping (ICS). The United Nations Conference of Trade and Development s (UNCTAD), meanwhile, estimates that volumes of global seaborne trade will grow by 3.8 percent between 2018 and 2023. However, the industry faces a number of critical issues - with innovation proving crucial to sustaining its competitiveness and growth.
"The shipping industry is continually evolving, but change comes slowly and in incremental stages. However, issues such as sustainability, reducing emissions, and seafarer s mental and physical wellbeing can no longer take a wait-and-see approach. The goal is to address these issues today through the accelerator and to inspire the industry to take a technology-first approach to solving problems," Claus Nehmzow, Chief Innovation Officer at EPS, commented.
"We hope to be able to spark a renaissance in how maritime trade is conducted and to usher in a wave of next-generation tech for the shipping industry," he added.
During the intensive three-month program, the startups will receive hands-on mentorship from industry experts, access to EPS operational data, and the opportunity to deploy their technology on EPS diverse fleet of over 150 vessels. The program will also provide the founders with access to Techstars network of mentors, investors and partners. In February 2020, the accelerator will culminate in a demo day where the founders will pitch to an audience of top investors, multinationals, government partners and other ecosystem players.

Posted On:20-Nov-2019



Turnaround Time at major ports has come down by 23 hours: Mansukh Mandaviya, MoS Shipping
Mansukh Mandaviya, Minister of State for Shipping, in a written reply to Rajya Sabha informed that the Government is continuously monitoring and striving to reduce the turnaround time of vessels at ports.
A study has been conducted for benchmarking efficiency and productivity of major ports to bring them at par with the international standards.
Out of 116 port-wise action points identified in the study, 93 initiatives have already been completed resulting in a reduction of Turnaround Time at major ports from 82.32 hours in the year 2016-17 to 59.51 hours in the year 2018-19.
Also, regarding the Government's initiatives for promoting inland water transport in the country, the minister informed the house that 111 Inland waterways have been declared as National Waterways (NWs) until now.
Further to it, the minister also shared the progress of Jal Marg Vikas Project (JMVP) which is being carried out by the Inland Waterways Authority of India (IWAI).
The project's estimated cost is Rs.5369.18 crore for capacity augmentation of various National Waterways including Haldia-Varanasi stretch of NW-1.
After the statutory clearances, projects worth Rs.1800 crore approximately have already been commenced on the ground in a time period of three years. Also, fairway development works have commenced in Vijayawada-Muktyalasretch of River Krishna (part of NW-4) at a cost of Rs.96 crore.

Posted On:20-Nov-2019



SPDB Financial Leasing Acquires Two CMA CGM Vessels
SPDB Financial Leasing, part of Shanghai Pudong Development Bank (SPD Bank), has signed an operating lease agreement for two 11,380 TEU CMA CGM boxships.
The signing ceremony took place in Shanghai on November 18, 2019, the bank said in a statement.

Posted On:20-Nov-2019



Bangladesh Court Rules 2016 Beaching of Maersk FPSO Illegal
Over three years after the beaching of the North Sea Producer FPSO in Chittagong, the Supreme Court of Bangladesh has declared the import, beaching and breaking of the FPSO North Sea Producer illegal.
The judgment was issued in a Public Interest Litigation (PIL) filed by Bangladesh Environmental Lawyers Association (BELA), a member organisation of the NGO Shipbreaking Platform.

Posted On:20-Nov-2019



Celebrity Edge to Set Sail with 1st All-Female Bridge, Officer Team
Florida-based cruise line Celebrity Cruises, part of Royal Caribbean Cruises, has unveiled plans for the first-ever sailing with an entirely female bridge and officer team.
This historic sailing will take place on International Women s Day - March 8, 2020 - aboard the company’s newest ship Celebrity Edge, which was delivered to the company a year ago.

Posted On:20-Nov-2019



Kuala Tanjung strengthen its position in Malacca Strait through cooperation with Europe and Asia s biggest Ports
Kuala Tanjung International Hub Port and Industrial Estate in North Sumatera province, is set to become Indonesia s biggest and most strategic port in the western part of the archipelago. The Indonesian government even has listed the port as one of its National Strategic Program. To complete this mission, PT Pelabuhan Indonesia I (Persero), owner of Kuala Tanjung International Hub Port and Industrial Estate, signed a Head of Agreement (HoA) with Port of Rotterdam Authority and Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd.

Posted On:20-Nov-2019



Credits: www.bunkerportsnews.com

Rocktree Completes Feed For Bauxite Hills Floating Terminal
Rocktree Consulting, a division of Singapore-headquartered transhipment and logistics group Rocktree, has completed the front-end engineering and design (FEED) for a new floating terminal for the Bauxite Hills Mine, operated by Australia s Metro Mining Limited.
Bauxite ore is the world s primary source of aluminum. Australia, Guinea and Brazil are the largest suppliers of bauxite to the seaborne market, while China is the main buyer.

Posted On:20-Nov-2019



Credits: www.bunkerportsnews.com

Philippines Port Proposal Underway
A port development proposal has been accepted as complete by the Philippine Ports Authority (PPA), which will now begin to evaluate its legal, financial and technical merits.
International Container Terminal Services, Inc s (ICTSI) proposal to modernise the Iloilo Commercial Port Complex and the Port of Dumangas will be considered by PPA within a maximum of 60 days.

Posted On:20-Nov-2019



Credits: www.bunkerportsnews.com

Kalmar and DP World further strengthen partnership with new terminal tractor order for Caucedo terminal
Kalmar, part of Cargotec, has concluded an agreement with long-standing partner DP World for 38 Ottawa T2 terminal tractors for the company s Caucedo terminal in the Dominican Republic. The order was booked in Cargotec s 2019 Q3 order intake, with delivery scheduled to take place during Q1 and Q2 of 2020.

Posted On:20-Nov-2019



Credits: www.bunkerportsnews.com

Iron ore arrivals at Chinese ports rebounded on week
SMM estimates that 87 vessels carrying 11.81 million mt of iron ore arrived at major Chinese ports during November 10-16, up 530,000 mt from the week ended November 9.
The marked a rebound after two straight weeks of decline. During November 10-16, deliveries grew slightly at ports in China s steelmaking hub, Tangshan, while ports in Shandong province saw smaller arrivals.

Posted On:20-Nov-2019



Credits: www.bunkerportsnews.com
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