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Toll Christens Cargo Ship for Australian Bass Strait Route
Global logistics provider Toll officially named the first of two new 700 TEU ships for the Australian Bass Strait route. Named Tasmanian Achiever II, the ship was described by Toll as the "largest general cargo ship to fly the Australian flag."
The 210-meter vessel, which was handed over in November 2018, is set to enter service on March 1, 2019. Victorian Reliance II, the second of the two ships, will be officially named in Melbourne, ahead of its first voyage across the Bass Strait on March 1, 2019.
Toll has purchased the two ships to carry freight between the Australian mainland and Tasmania, increasing the company s Bass Strait cargo capacity by more than 40 percent on each voyage.
"As the country s largest private investment in coastal trading in 25 years, this is a major milestone for Australian shipping with Tasmanian Achiever II providing capacity to meet anticipated demand for the next two decades," said Steve Borg, Toll s executive general manager, Tasmania and shipping.
Fitted with on-board scrubbers to filter emissions, Tasmanian Achiever II will meet standards on sulphur emissions which will be introduced in January 2020 by the International Marine Organisation (IMO).
In addition to acquiring the two ships, Toll has invested AUD 35 million (USD 25 million) to upgrade wharf facilities at the Port of Burnie, Tasmania. In port, the new ships will connect to the local power grid, eliminating the need to generate power by using their diesel engines.
Tasmanian Achiever II will replace Tasmanian Achiever I, when the 20-year-old ship is retired from the route.Posted On:20-Feb-2019
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DP World Expands with Purchase of UK s P&O Ferries
Dubai-based port operator DP World has acquired the pan-European logistics company P&O Ferries for a purchase consideration of GBP 322 million (USD 421 million).
The company said that the transaction implies a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x.
The acquisition is expected to be earnings accretive from the first full year of consolidation and is expected to meet DP World s return targets. On a proforma basis, DP World s net leverage as of the first half of 2018 would be 2.96x net debt to EBITDA with this acquisition compared to the reported 2.91x.
The transaction is subject to customary completion conditions and is expected to close in the first half of 2019.
"P&O Ferries provides efficient European freight connectivity building on last year s acquisition of Unifeeder. This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler," Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said.
P&O Ferries consists of roll-on roll-off (Ro-Ro) ferries operation and a European transportation and logistics solutions provider, P&O Ferrymasters. The company operates a fleet of 21 vessels on the Short Sea, North Sea and Irish Sea sectors across 11 ports, while P&O Ferrymasters provides supply chain solutions in 19 European locations.Posted On:20-Feb-2019
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Euronav Disposes of Its Only LR1 Tanker
Belgium s tanker shipping company Euronav NV has decided to sell Genmar Compatriot, a 2004-built LR1 tanker. The 72,768 dwt vessel has been sold for USD 6.75 million to an undisclosed buyer.
As informed, the vessel will be delivered to its new owners in the course of April 2019.
Euronav expects to record a capital gain of approximately USD 0.4 million in the second quarter.
The LR1 Genmar Compatriot joined the Euronav fleet as part of the Gener8 merger in June 2018 and was always a non-core asset to the company, according to Euronav.
Built at Dalian Shipyard in China, the Bermuda-flagged tanker has a capacity of 75,701 cbm. Genmar Compatriot, previously known as Stena Compatriot, currently has a market value of USD 10.06 million, VesselsValue s data shows.
With this LR1 being sold, Euronav s owned and operated fleet comprises 72 vessels - two ULCCs, 43 VLCCs, 25 Suezmaxes and two FSO vessels (both owned in 50%-50% joint venture)Posted On:20-Feb-2019
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Fifteen Injured in Ship Collision in the Baltic Sea
Fifteen people were injured in a collision between a general cargo ship and a wind farm support vessel off Sassnitz, Germany, on February 19.
The Cyprus-flagged singledecker Raba and the Denmark-flagged crew boat World Bora collided at around 7:30 a.m. (local time) on Tuesday, according to the local water police.
Following the incident, both ships reached the ports of Mukran and Sassnitz on Rügen Island with their own power.
The fifteen men onboard World Bora - four crew members and eleven workers - were taken to hospital. Some of them sustained serious injuries, Die Seenotretter DGzRS, a sea rescue organization, said.
There were no injuries reported on board the cargo ship, the organization added.
Both ships were damaged in the collision, however, no pollution was detected.
At the time of the incident, the 2,300 dwt Raba, owned by Poland s Baltramp Shipping, was en route from Copenhagen, Denmark, to Szczecin, Poland, VesselsValue s data shows.
The 100 dwt World Bora, owned by Denmark’s World Marine Offshore, was on its way from Copenhagen to the Viking Wind Farm.Posted On:20-Feb-2019
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GOGL Profitable Despite Capesize Freight Rates Decline in Q4
Norway-based shipping company Golden Ocean Group Limited (GOGL) managed to remain profitable in 2018 despite weaker Capesize dry bulk market.
For the full year 2018, GOGL posted net income of USD 84.5 million, against net loss of USD 2.3 million in 2017.Posted On:20-Feb-2019
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GoodBulk to Make Its Capesize Ships BWMC Compliant
Dry bulk vessel owner and operator GoodBulk plans to equip eleven of its Capesize vessels with ballast water treatment systems (BWTS) in the coming period.
BWTS will be installed on three Capesize bulkers in 2019 and on eight ships in 2020 during their scheduled drydocks, the company said.Posted On:20-Feb-2019
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MHI to Join the Charter of Trust for Cybersecurity
Japan s Mitsubishi Heavy Industries (MHI) has signed a letter of intent to join the Charter of Trust for Cybersecurity in Tokyo, expanding the Charter s reach into Asia.
The membership is expected to be concluded by the end of September, 2019. As the 17th Charter partner, MHI will be the first Asian company to become a member of the global cybersecurity initiative.Posted On:20-Feb-2019
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COSCO, Bollore Team Up to make Business Synergies
China s container shipping company Cosco Shipping Lines and French-based transportation group Bollore Transport & Logistics have signed a memorandum of understanding (MoU) to develop new strategic cooperation.
Under the MOU inked in Shanghai on January 29, the duo aims to "densify their commercial relations while exploring new opportunities for cooperation in transport, logistics and port infrastructure."Posted On:20-Feb-2019
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Kick-Start Your Career in Maritime, Offshore and Energy Sectors
Everyone who is interested or curious about a career in the maritime, offshore and energy sector can register for free as of February 19 to visit the Navingo Career Event that will be held on May 23, 2019.
At the Navingo Career Event, career and development in this innovative sector come together. Visitors meet leading employers, participate in case studies, discuss the latest developments in the sector, receive career advice and partake in several experiences.Posted On:20-Feb-2019
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Workers at Port Sudan container terminal strike over concession deal
Workers at Port Sudan s southern container terminal went on strike on Monday to protest against a deal with Philippine port operator International Container Terminal Services Inc (ICTSI), port employees and a union official said.
Witnesses in Port Sudan said work at the terminal had been suspended since the morning because of the strike, which was timed to coincide with a visit by the Sudanese prime minister aimed at resolving opposition to the deal.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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Shocking Gap In Mental Health Awareness In Ports
Mental health issues are not being properly addressed in ports - that s the message from ex-workers and specialists in an exclusive Port Strategy feature.
Port workers, speaking to PS on condition of anonymity, paint a picture of a workload that is too high in a male-dominated industry where admitting to mental health issues is viewed as a weakness.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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Matadi Gateway Terminal Unlocks Shipping System Benefits
The recent call of the 2,500-TEU capacity Safmarine Nuba at the Matadi Gateway Terminal (MGT), an ICTSI Group company, opens the door to major new shipping system benefits for the Democratic Republic of the Congo (DRC).
The call, which took place at the end of January, marked the first call by a gearless containership and the first by a vessel with a capacity as high as 2,500 TEUs.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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The Importance of the Anaklia Deep Sea Port to Georgia s Future
In the previous issues of GEORGIA TODAY, I argued that the expansion of Georgia Black Sea ports is of crucial importance for the whole region. It also marks an interesting development where Georgia, for the first time in many centuries, has a real opportunity to transform at least into a regional hub.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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Paradip, Dhamra ports diversify cargo to counter Subarnarekha port
As the competition for hinterland cargo set to get intense with the upcoming commercial port at Subarnarkeha, the established ports at Paradip and Dhamra in Odisha are looking beyond bulk cargo to drive growth in the future.
The port in Paradip and Adani-owned Dhamra port are currently servicing Tata Steel s Jamshedpur steel plant.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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Strong autumn for rail traffic at the Port of Gothenburg
During 2018, 398,000 TEUs were transported to or from the port by rail. The figures were strongest during the final quarter of the year when rail-borne container freight increased by 27 per cent. "The fact that long-distance freight transport is recovering at a higher rate is a clear indication of the growing confidence in the Container Terminal throughout the country," said Claes Sundmark, Vice President, Container, Ro-Ro and Rail at Gothenburg Port Authority.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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Wartsila EnergoProFin listed in Vancouver Fraser Port Authority EcoAction Program
The technology group Wartsila s EnergoProFin, an energy saving propeller cap that delivers average fuel savings of two percent, has been listed in the 2019 Vancouver Fraser Port Authority s EcoAction Program which provides harbour dues discounts for vessels calling on the Port of Vancouver that meet environmental best practices that reduce emissions, underwater noise and other environmental impacts.Posted On:20-Feb-2019
Credits: www.bunkerportsnews.com |
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