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.: 21-Nov-2019 :. Search News
Displaying 1 to 17 of Records.
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Cargo ship with cargo of coal aground, flooded, South China sea
Cargo ship loaded with coal ran aground while approaching coal terminal of a Power Plant, South China sea, on a weekend. Attempts to refloat by own means failed, weather deteriorated, battered by wind and swell ship started to take on water. After engine room was flooded and the ship listed some 20 degrees, Captain issued distress signal on Nov 20. All were rescued. Owner is tasked with refloating the ship. Photo made by crew.

Posted On:21-Nov-2019



Taiwanese cargo ship sank after collision 2 crew missing
Cargo ship CHANG XIN with 9 crew on board issued distress signal at 2150 Beijing time Nov 20, reporting sinking near Chuanshi Island, Minjiang River estuary, Fuzhou, China, Taiwan Strait waters. According to reports, the ship started to take in water and sank, after collision with unidentified vessel. Fujian MRCC sent SAR boats and helicopter to disaster site. In the morning Nov 21 helicopter spotted a life raft with 6 crew, 1 crew swam to the shore, 2 crew went missing.

Posted On:21-Nov-2019



Performance Shipping Boosts Fleet with Aframax Tanker
Greek shipowner Performance Shipping has agreed to expand its fleet with a 2007-built Aframax tanker.
The vessel is expected to be delivered to the company by late January 2020.
Performance Shipping s fleet list data indicates that the ship in question is Virgo Sun, a 115,577 dwt tanker constructed at Japan s Sasebo Heavy Industries. The 2007-built ship is operated by UK s Zodiac Maritime, according to information provided by VesselsValue.
As informed, Performance Shipping has agreed to acquire from a related party all of the issued and outstanding shares of an entity that has entered into a contract to purchase the ship from its current owner for a total of USD 26 million.
The transaction was approved by a majority of the disinterested members of the board of directors of the Performance Shipping.
Specifically, Performance Shipping will acquire the entity from its Chairman and Chief Executive Officer, Symeon Palios, for an aggregate purchase price of USD 11 million, which will be paid in common shares of the company at a per share price of USD 0.9027.
The USD 11 million purchase price of the entity is equal to the deposit previously paid to the vessel s seller by an affiliate of the company s Chairman. The balance of the purchase price payable under the contract is expected to be funded through cash on hand and bank financing.
"I am happy to be able to facilitate the company s continued expansion of its fleet with the sale of this Aframax vessel. By taking consideration solely in common shares at their current market price, this transaction both supports the company s balance sheet and reflects my continued confidence in its future growth," Symeon Palios, the Company s Chairman and Chief Executive Officer, commented.
Following the closing of this transaction, the company will have 49,021,001 common shares and another 1,500 Series B-2 preferred shares issued and outstanding.
Once the newest transaction is completed, Performance Shipping s fleet will comprise three Aframax tankers, one Panamax containership and one Post-Panamax boxship.

Posted On:21-Nov-2019



Indian Government Approves Proposal for Hong Kong Convention Accession
India s Union Cabinet has approved a proposal for the accession to the Hong Kong International Convention for Safe and Environmentally Sound Recycling of Ships, 2009.
By joining the convention, India would become the 14th country to join the International Maritime Organization (IMO) treaty.
The most recent member of the treaty is Germany, which joined in July this year.
Under the bill, ship recycling facilities are required to be authorized and ships shall be recycled only in such authorized ship recycling facilities.
The bill also provides that ships shall be recycled in accordance with a ship-specific recycling plan. Ships to be recycled in India shall be required to obtain a Ready for Recycling Certificate in accordance with the HKC.
When the Hong Kong International Convention for Safe and Environmentally Sound Recycling of Ships, 2009 comes into force, its provisions will be implemented under the provisions of the Recycling of Ships Bill, 2019, the Indian government said.
India is at the forefront of the global ship recycling industry, with a share of over 30% of the market.
"With this giant step, the Indian government has ensured that not only on the micro-end, will the industry continue to operate while keeping worker health and the safety of the environment at heart, but on the macro-end, a growing number of ship owners seeking SoC based green-recycling options can be certain that the authorities have added another layer of security for their incoming vessels," Anil Sharma, CEO of cash buyer GMS, commented.
"As a result, this bill eases the restrictions on non-EU yards that are currently imposed by the EUSRR."
"India was always the key to unlocking Hong Kong Convention s entry into force and after a number of years waiting for India s ship recycling industry to mature and embrace the technical standards of the Convention, and having witnessed that remarkable transformation, it is now most rewarding to receive news that India s Cabinet has adopted the Convention as India s own standard," Nikos Mikelis, non-executive director of GMS, added.
"It now only remains for Parliament s both houses to review and pass the new bill before India s President signs India s accession to the Hong Kong Convention."

Posted On:21-Nov-2019



Port Everglades, Port of Barranquilla Sign Trade MOU
The US Port Everglades and Colombia s Port of Barranquilla have signed a Memorandum of Understanding (MOU) as part of a joint sister seaports agreement to promote trade.​
Colombia s largest port along the Caribbean Sea is Port Everglades fifth largest trading partner.
The two ports want to establish an alliance of cooperation aimed at facilitating international trade and generating new business by promoting the sea trade routes between the two countries.
The MOU outlines joint initiatives, including marketing activities and market studies, training, and sharing of information on technology, modernization and improvements.​
"International trade promotion is a priority of our port and county for generating economic prosperity," said Broward County Mayor Dale V.C. Holness, who signed the MOU document on behalf of Port Everglades.
"Our port s trade with Colombia alone in 2018 reached USD 1.19 billion."
"As the logistics platform that connects Colombia to the world, it s important for us to be Port Everglades partner in order to share best practices, increasing demand for Colombia s perishable goods in the United States," said Rene Puche, President & CEO, Port of Barranquilla, who signed the MOU document.​
In recent trade with Colombia, Port Everglades handled 33,207 TEUs from October 2018 through June 2019. Top import commodities included aluminum, wood, fruits, beverages, glassware, ceramic, plastics, and vegetables. Top export commodities included printers, machinery, vehicles, furniture, iron, steel, wood, essential oils, and perfumes.
Nearly a third of Colombia s trade with Port Everglades was with the Port of Barranquilla, primarily aluminum, glass, and ceramic commodities.

Posted On:21-Nov-2019



Golden Ocean CEO Steps Down
Golden Ocean Group Limited s (GOGL) CEO Birgitte Ringstad Vartdal is stepping down from her role as chief executive on November 30, 2019, the Norwegian dry shipping company said.
Vartdal, who held the position as CEO since 2016 and before that served as CFO since 2010, has submitted her notice of resignation to GOGL.
As informed, the company has appointed Ola Lorentzon, the chairman of the board of Golden Ocean, as interim CEO and will initiate the search for a new CEO immediately.
"I have had 10 fantastic years with Golden Ocean and am pleased with the development of the company during this period. The company is now in a solid financial position, just delivered its best quarterly result since 2013 and is well prepared ahead of IMO 2020," Vartdal commented.
The announcement comes on the back of the company s financial results for the third quarter of this year which show that GOGL generated a net income of USD 36.7 million, returning from a net loss of USD 33.1 million suffered in the second quarter of this year.
Operating revenues amounted to USD 219.3 million in the third quarter of 2019, an increase of USD 103.5 million from USD 115.8 million posted in the second quarter of 2019.
In September and October 2019, the company took delivery of two chartered-in 103,000 dwt ice-class vessels built in 2019. MV Admiral Schmidt and the MV Vitus Bering are chartered in on index-linked time charters each with firm periods of three years, with four annual options to extend the lease.
In addition, during Q3 2019, the company teamed up with Frontline and Trafigura to establish a global supplier of marine fuels and made further investments in Singapore Marine, a dry bulk freight operator.
In November this year, GOGL completed refinancing of the USD 284 million loan facility financing 15 vessels at "attractive terms".
Finally, the company agreed with SFL Corporation a charter amendment for seven Capesize vessels whereby SFL will fund the scrubber investments previously announced by the company in exchange for increased charter rates. The expected capital expenditure to be funded by SFL will be approximately USD 17.5 million, and will be repaid through increased charter rates from January 1, 2020, to June 30, 2025.
"We are pleased to announce that we have been able to refinance a loan facility for 15 vessels at attractive terms with reputable shipping banks. The loan has a five year tenor with a 20-years age adjusted profile and eliminates our refinancing needs until 2021. Combined with a total financing of approximately USD 45 million of our scrubber investment this gives the company a high degree of financial flexibility for the coming year," Per Heiberg, Chief Financial Officer of Golden Ocean Management, said.
Golden Ocean’s fleet currently comprises 79 vessels, with an aggregate capacity of about 10.9 million dwt.

Posted On:21-Nov-2019



Maersk Tankers to Grow Its Managed Fleet by 11 Ships
Danish tanker owner and operator Maersk Tankers is set to add eleven tankers to the fleet under its management, following an agreement with BP Shipping and ICBC Financial Leasing.
The agreement involves three Suezmax, three MR and five Handy-sized vessels, all built in South Korea between 2016 and 2017.
Under the terms of the agreement, Maersk Tankers will take each vessel from the owner under a bareboat charter arrangement. It will then hire out the vessel to BP under a time charter deal for a period of three years.
As explained, Maersk Tankers will assume full responsibility for operational risks and the technical management of the vessels.
"With this agreement, we increase our fleet under management to 198 vessels from more than 30 different partners," Soren C. Meyer, Chief Asset Officer at Maersk Tankers, commented.
Maersk Tankers expects to take delivery of the first vessels in early 2020, with the remaining ones to be delivered throughout the year.

Posted On:21-Nov-2019



Incorrect Data in certain lECs; corrective action required from exporters: DGFT
In a trade notice to the members of trade and industry and regional authorities, the Directorate General of Foreign Trade (DGFT) said there are certain data mismatch issues in IEC database which requires immediate corrective action.
DGFT said, "On analysis of the DGFT IEC database, it has been observed that there are certain data mismatch issues which require immediate corrective action."
The import-export certificate (also known as IEC license) is the code you need to do import-export business in India.
The data mismatch in IECs (Import Export Code number) have been reported in- Incorrect Permanent Account Number (PAN); and More than one IEC against same PAN.
DGFT has given the details of the mismatched IECs on its website and said, "IEC holders as mentioned in the two Annexures of this Trade Notice are requested to take immediate steps to correct their IEC data before 15 December 2019, failing which these lECs will be suspended by the jurisdictional DGFT Regional Authority (RA)".
lECs, which have an incorrect PAN, are required to ensure that their correct PAN number is updated and reflected correctly in the DGFT database.
For making changes in PAN, the IEC holder will need to make a written submission on the letter head of the IEC holder to the jurisdictional DGFT RAs along with a self-certified copy of the PAN. Changes in the PAN cannot be made through the online IEC application module.
IEC holders, whose same PAN exists in more than one IEC, are required to ensure that only one active IEC exists against each PAN.
For this, the IEC holder will need to make a separate written request on the letterhead of each IEC holder(s) to the jurisdictional DGFT RA concerned, to suspend/cancel the other IEC(s).
The directorate has asked the RAs to take suitable action accordingly after observing due diligence. In case of situation where multiple lECs having same PAN exist and the IEC holder has not approached the RA, then the RA will suspend all the multiple IECs having the same PAN after 15 December 2019.
"Only on a written request with submission of required documents the IEC [on which import/export takes place] may be allowed to be reactivated," said DGFT.
The trade notice further stated that if the IEC holder considers for reason(s) that the IEC cannot be corrected before the due date but should not be suspended, the person may submit a representation in writing to the concerned RA, DGFT, or, if that person so desires, appear for a personal hearing before the concerned RA, DGFT.
IEC holders have also been asked to update their IEC database periodically so as to reflect the correct particulars including email/mobile which is used for communication purposes.
These changes/amendments can be made directly through the 'Online JEC Application amendment module available on the DGFT Website under the 'Services' link.

Posted On:21-Nov-2019



Ponant, Fincantieri Sign MoA for Two New-Generation Cruise Ships
Italian shipbuilder Fincantieri and French cruise line Ponant have signed a memorandum of agreement (MoA) for the design and construction of two new-generation luxury expedition cruise vessels.
Worth about EUR 300 million (USD 3.32 million), the MoA also envisages an option for one further sister ship.

Posted On:21-Nov-2019



ZIM Retains Profit in Third Quarter
Israeli shipping company ZIM has reported a net profit of USD 5 million for the third quarter of 2019, after returning to black in the second quarter of the year.
ZIM achieved the net profit on the back of USD 842 million of revenues in the three-month period that ended September 30.

Posted On:21-Nov-2019



Port of Hamburg Container Volumes Up by 6.9 Pct
Germany s largest universal port, the Port of Hamburg, wrapped up the first three quarters of this year with a container throughput of 7 million TEUs, representing a growth of 6.9 percent year-over-year.
As informed, the increase is primarily attributable to the four new transatlantic services and four new Baltic feeder services.

Posted On:21-Nov-2019



Throughput of Russia s seaports expected to grow by 3% to 850 million tonnes in 2019
Throughput of Russia s seaports is expected to grow by 3% to 850 million tonnes in 2019, IAA PortNews correspondent cites Serik Zhusupov, Executive Director of the Association of Commercial Sea Ports, as saying at the conference held in the framework of Transport Week in Moscow.
According to him, the capacity of Russian seaports is estimated at 1.15 billion tonnes.

Posted On:21-Nov-2019



Credits: www.bunkerportsnews.com

La Spezia Container Terminal Launches New Welfare and Prevention Initiatives
Contship Italia Group, a leading maritime container terminal operator and intermodal services provider, announced the launch of its risk prevention initiative for La Spezia Container Terminal (LSCT) with the installation of three new automatic external defibrillators (AEDs) placed strategically in three different locations within the terminal.

Posted On:21-Nov-2019



Credits: www.bunkerportsnews.com

Ports Feel Effects Of Chile Strikes
Port operations in Chile have been disrupted after dockworkers took part in protest strikes in the country.
Dockworkers united with workers from other industries in striking earlier this month, after Chilean President Sebastian Pinera appeared to ignore demands to take action on issues including high living costs. Ports affected reportedly include Valparaiso and San Antonio.

Posted On:21-Nov-2019



Credits: www.bunkerportsnews.com

Cameroon Controls 90% of Cocoa Export Through Calabar Port
More than 90 per cent of cocoa exported from Calabar port are brought in from south Cameroon, the Shippers Association of Cross Rivers State, SACRS, has said.
In an exclusive interview with Vanguard Maritime Report, the association also bemoans lack of availability of cocoa seeds for export.

Posted On:21-Nov-2019



Credits: www.bunkerportsnews.com

DP World Sokhna Nearing Completion of $520 Million Port Expansion Project
DP World Sokhna has celebrated its 10th anniversary by announcing it is near completion of a major expansion project that will bring DP World s total investment in Egypt to $1.6 billion. Basin 2 will be operational by the second quarter of 2020 and nearly double capacity at the port to 1.75 million TEUs per year.

Posted On:21-Nov-2019



Credits: www.bunkerportsnews.com

TEN-T policy review must bring maritime links on equal footing with land links
The European Commission has kicked-off the process for reviewing the 2013 TEN-T guidelines with a public consultation before summer. ESPO believes the review should not lead to a complete change of direction in the TEN-T policy. The rationale of the 2013 guidelines remains the same: achieving an efficient, sustainable and multimodal Transport Infrastructure Network in Europe.

Posted On:21-Nov-2019



Credits: www.bunkerportsnews.com
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