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.: 1-Aug-2018 :.
Displaying 1 to 17 of Records.
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Panama Ship Registry Launches Maritime Safety And Inspection System Global Platform
The Panama Maritime Authority s Directorate of Merchant Marine, which oversees the world s largest ship registry, has announced it is putting in operation as of August 1st, on a 24/7 working basis the "Maritime Safety and Inspection System, Global Platform Software" which is a friendly, accurate and fast receiving data system.
Posted On:
1-Aug-2018
Shipping industry to trial blockchain-based technology for bunker fuels
A number of stakeholders in the shipping industry have partnered with Maritime Blockchain Labs (MBL) to work on a project that aims to use blockchain technologies to improve the traceability of the shipping fuel supply chain.
Led by MBL, which is a subsidiary of blockchain technology experts Blockchain Labs for Open Collaboration (BLOC), the consortium will assess how to harness blockchain to help shipping operators trace the source and quality of bunker fuels.
Posted On:
1-Aug-2018
Emergency Towing of Heavily Damaged Makassar Highway Starts
The Panama-flagged car carrier Makassar Highway, which sprung oil following its grounding on July 23, has been taken under tow, the Swedish Coast Guard said.
The decision to tow the heavily damaged vessel was made on Tuesday, July 31, in anticipation of heavy weather, which could have further compromised the ship s stability and resulted in additional environmental pollution.
Posted On:
1-Aug-2018
Silversea Cruises Joins the RCL Family
The ultra-luxury and expedition cruising company, Silversea Cruises, has officially joined the family of Royal Caribbean Cruises (RCL).
On July 31, the companies informed that they have closed on RCL s acquisition of a two-thirds stake in Silversea after receiving final approval from regulators. The investment unites two leading players in the cruise industry and fills out RCL s portfolio of cruise brands across all key market segments.
Posted On:
1-Aug-2018
Navios Containers Buys Another Ship, Reports Profit Growth
Monaco-based Navios Maritime Containers has decided to acquire a 2009-built vessel, continuing its boxship buying spree.
The company is to buy the 4,563 TEU containership for USD 13.9 million from an unnamed owner. As informed, the vessel, scheduled for delivery in Q3/Q4 2018, is expected to generate approximately USD 2.1 million of EBITDA over the next twelve months.
Posted On:
1-Aug-2018
DryShips Profits from Rate Improvements
Greek shipowner DryShips delivered a profit in the second quarter of the year, driven by an improvement in the company s time charter equivalent rates.
The company reported a net income of USD 3.6 million during the period, compared to a net loss of USD 15.6 million seen in the same quarter a year earlier. Revenues for the quarter stood at USD 43.3 million, up from USD 16.4 million in the second quarter of 2017.
Posted On:
1-Aug-2018
NMPT achieves growth of 5.28% in 2017-18
The New Mangalore Port Trust (NMPT) has achieved a growth rate of 5.28% during the fiscal year 2017-18 by handling 42.06 million metric tonnes of cargo, said Trust Chairman M T Krishna Babu.
Addressing mediapersons at NMPT in Mangaluru on Tuesday, he said that during the year 2016-17, the total cargo handled by the port was 39.95 million metric tonne. A target for 45 million metric tonnes has been set for the year 2018-19.
"During 2017-18, a total of 17.43 lakh tonnes of containerised cargo was handled by the NMPT, compared to 14.11 lakh tonnes in the previous year. There has been a growth of 22%," he added.
"A total of 22 cruise vessels ferrying 24,258 passengers, had called the port during 2017-18. During 2016-17, 28 cruise vessels carrying 30,246 passengers called the port. About 36 cruise vessels with 40,000 passengers are expected this year," said the chairman.
Financial performance - Krishna Babu said that the operating income of the port during the fiscal year 2017-18 is Rs 504.76 crore. "The profit is 124.81 crore. The operating income and the profit during the financial year 2016-17 were Rs 454.51 crore and 94.57 crore respectively," he explained.
"The NMPT is all set to be one of the totally mechanised ports in India. Mechanisation projects will be taken up towards handling of bulk cargo through PPP mode, improving rail connectivity and dust control facility," the chairman said. He further said that the import of river sand from Malaysia has commenced.
"The NMPT has met 95% of power requirements of the port through solar energy. Also, the sewage treatment plant has also been installed towards industrial usage of treated water. Funds of about Rs 2.6 crore has been spent by the NMPT towards CSR activities," he added.
Posted On:
1-Aug-2018
Credits:
www.indiaseatradenews.com
Govt issues fresh guidelines to ports for pension fund investment
The shipping ministry has issued fresh guidelines to change the existing investment pattern of pension, provident and surplus funds of 12 major ports, with an aim to improve returns by additional Rs 150 crore per annum. At present, pension, provident and surplus funds at major ports add up to around Rs 33,000 crore, yielding interest of around Rs 2,700 crore.
A diverse set of initiatives have been taken as part of a drive to boost profitability across major ports, including improving the returns earned on treasury investments by the ports for pension, provident and surplus funds, Ministry of Shipping said in a statement today.
"Across all major ports, these funds add up to around Rs 33,000 crore, yielding interest of around Rs 2,700 crore. Looking for ways to push this amount further, the Ministry has realised an opportunity to improve returns by Rs 150 crore or more through a strategic shift in its guidelines for provident and surplus funds," it said.
Major ports have been investing their provident and surplus funds in the fixed deposits of nationalised banks, earning returns in the range of 5.5 to 8 percent, it said.
However, many PSUs have enjoyed significantly better returns, it said adding that ONGC earned 8.4 percent returns through Oil Corporation of India and Government of India special bonds; RECL earned 10 to 11 per cent through Tier I bonds of the UP Power Corporation and SBI bonds.
"Realising the potential to earn higher returns, the Ministry of Shipping has evaluated its recommended investment pattern in comparison to the frameworks followed by other PSUs and government bodies. After a detailed study of investment options available and their achieved performances, the Ministry of Shipping has issued fresh guidelines to all the major ports on the investment of provident funds... and on the investment of surplus funds," the statement said.
The fresh guidelines are based on guidelines issued by Ministry of Labour and Employment and Department of Public Enterprises, Ministry of Heavy Industries & Public Enterprises.
"These new guidelines are expected to increase the returns of provident and surplus funds by 1 to 1.5 per cent across ports, adding around Rs 150 crore annually to the current earning figures," the ministry said.
With the new guidelines, many ports, including Kandla, Goa, JNPT, New Mangalore and Visakhapatnam are all set to switch the investment pattern with higher rate of return.
The financial benefit estimated will show up in the books of accounts of major ports from 2018-19. Treasury investments at India's 12 major ports - Kandla, Mumbai Port Trust, JNPT, Goa, New Mangalore, Cochin, Tuticorin, Chennai, Ennore, Vishakhapatnam, Paradip, and Kolkata/Haldia are governed by Section 88 of the Major Ports Trust Act, 1963.
The Act mandates that investments pertaining to pension, provident and surplus funds adhere to the guidelines issued from time to time by the central government.
Posted On:
1-Aug-2018
Credits:
www.indiaseatradenews.com
UN and NGOs jeopardizing ships, crews and migrants
Offshore supply tug ASSO VENTOTTO was working with platform Sabratah of Mellita Oli & Gas in Mediterranean near Libyan waters, when in the afternoon Jul 30 she was ordered to pick up migrants from the inflatable boat which was floating some 1.5 nm off the platform, 57 nautical miles from Tripoli, 105 miles from Lampedusa, 156 miles from Malta and 213 miles from Pozzallo in Sicily. Libyan Coast Guard officials reportedly, boarded platform and supervised operation. The tug picked up 101 migrants and as ordered by authorities, sailed to Tripoli Libya, escorted by Libyan patrol boat. Migrants were safely disembarked in Tripoli, ASSO VENTOTTO sailed back to platform.
Posted On:
1-Aug-2018
Scorpio Tankers Inks Sale & Leaseback Deals for Four More Tankers
Monaco-based tanker owner Scorpio Tankers has secured sale and leaseback agreements with an unnamed financial institutions for four more product tankers.
The ships in question are two MR product tankers, STI Gramercy and STI Queens, and two LR2 product tankers, STI Oxford and STI Selatar. The borrowing amounts under the arrangement are USD 24 million per MR and USD 34 million per LR2, totaling in USD 116 million overall.
Posted On:
1-Aug-2018
Ardmore Shipping Triples Net Loss in H1
Ardmore Shipping Corporation, an owner and operator of product and chemical tankers, reported a net loss of USD 13.7 million for the six months ended June 30, 2018, sinking further into the red.
Namely, the net loss more than tripled when compared to last year s USD 4 million, mostly driven by challenging charter market conditions. Spot and pool MR tankers earned an average of USD 12,086 per day, while chemical tankers earned an average of USD 12,816 per day for the six months ended June 30, 2018.
Posted On:
1-Aug-2018
d Amico Not Happy with First Half Results
Marine transportation company d Amico International Shipping was hit by a very difficult market in the second quarter of the year. For the first half of 2018, the company s net loss reached USD 20.2 million, compared to a net loss of USD 6.2 million seen in the first half of 2017
d Amico International Shipping s time charter equivalent (TCE) earnings for the period stood at USD 125.6 million, compared to USD 128.7 million reported in the first six months of 2017.
Posted On:
1-Aug-2018
Carnival to Invest USD 200 Mn in Carnival Triumph Makeover
Carnival Cruise Line, part of Carnival Corporation, revealed plans for a nearly USD 200 million bow-to-stern makeover for Carnival Triumph in the spring of 2019.
The ship will join Carnival s Sunshine Class and will be named Carnival Sunrise after a two-month-long refurbishment that will take place in Cadiz, Spain, starting March 1.
Posted On:
1-Aug-2018
GoodBulk Bolsters Capesize Fleet
GoodBulk Ltd. has exercised options for the acquisition of two second-hand Capsizes, spending USD 68.3 million. The two ships, built in 2011 and 2012 by Daehan, KR, feature approximately 180,000 dwt each. The vessels are expected to be delivered into the fleet by 30 September 2018 and funded with USD 47.8 million of availability under existing credit facilities and cash on hand.
Posted On:
1-Aug-2018
Transportation of oil products through SOCAR s Kulevi terminal in Georgia declines
According to the Ministry of Economy and Sustainable Development of Georgia, SOCAR s Kulevi terminal in Georgia transported 0.6 million tonnes of oil and oil products in January-May 2018, down 0.2 million tonnes from previous year.
Georgia s ports and terminals totally processed 6.5 million tonnes of cargo in the reporting period, down 0.5 million tonnes from previous year.
Posted On:
1-Aug-2018
Credits:
www.bunkerportsnews.com
Ghana s ports to serve landlocked countries
The government has announced plans to implement the "First Port Duty Rule" in Ghana s ports by the end of the year to tackle increasing smuggling arising from diverted transit goods supposedly meant for landlocked countries.
Under the First Port Duty Rule, Customs officials from landlocked nations would be stationed at Ghana s Ports and importers would be directed to the appropriate country s desk to pay the required duties if indeed, they are transit goods.
Posted On:
1-Aug-2018
Credits:
www.bunkerportsnews.com
PSA Partners With Ashcroft Terminal To Provide Inland Terminal Services In Canada
PSA International Pte Ltd (PSA) has through its wholly-owned subsidiary PSA Canada Holdings Ltd, signed an Investment Agreement with 611216 B.C Ltd (dba Ashcroft Terminal or AT) to acquire 60% of Ashcroft Terminal business in Western Canada.
AT is an inland port facility located approximately 300 kilometres east of the Port of Vancouver (POV). Comprising 320 acres of free-hold industrial land, it is the only major privately-owned industrial property in Canada where both Class 1 railroad lines - including Canadian National (CN) Railway and Canadian Pacific Railway - run through, transporting import and export cargoes to and from the POV, across Canada and as far as Chicago and other North American markets. Besides its unique rail connectivity, AT is also located close to the major highways of British Columbia that serve much of the province s resource industries.
Posted On:
1-Aug-2018
Credits:
www.bunkerportsnews.com
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