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.: 17-Sep-2019 :. Search News
Displaying 1 to 14 of Records.
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EXMAR, Anglo-Eastern Form Third-Party LNG Ship Management JV
EXMAR Ship Management and Anglo-Eastern Univan Group have formed a joint venture dedicated to newbuilding supervision and vessel management of LNG carriers for third-party owners.
The new joint venture, named AEX LNG Management, will be based in Singapore.
It will draw on EXMAR s niche expertise in the LNG sector, while leveraging the systems, resources and global reach of Anglo-Eastern to provide specialist services for the growing LNG carrier market.
Services will include newbuilding planning and supervision, ship management, crewing and training via Anglo-Eastern s network of maritime training centres and state-of-the-art simulators.
"I look forward to combining EXMAR s unique competencies in the LNG space with our crewing and training solutions in order to offer our customers a platform for LNG ship management that carries the same depth and strength as we have in our other tanker segments," Peter Cremers, Executive Chairman of Anglo-Eastern, said.
Nicolas Saverys, Chairman of EXMAR Ship Management, added that the company s vast LNG ship management expertise, in combination with the global network of Anglo-Eastern, would "make exciting synergies that will change the third-party LNG ship management game."

Posted On:17-Sep-2019



Eagle Bulk Welcomes Second of Six Ultramaxes to Its Fleet
U.S.-based ship owner and operator Eagle Bulk Shipping has taken delivery of the second of six recently acquired Ultramax drybulk vessels.
The ship, that has been renamed the M/V Sydney Eagle, is a 2015-built, high specification scrubber-fitted SDARI-64 bulker built at Jiangsu New Hantong Ship Heavy Industry Co., Ltd.
The first unit from the batch, that has been renamed the M/V Dublin Eagle, was delivered to its new owner less than a week earlier.
Four of the six bulkers, acquired earlier through two separate deals, would be delivered with scrubbers. The additions are part of Eagle Bulk Shipping s fleet renewal strategy.
Once it takes delivery of the four remaining units, Eagle Bulk Shipping, one of the world s largest owner-operators within the Supramax/Ultramax segment, will have a fleet of 50 ships, including 20 Ultramax drybulk vessels acquired over the last 36 months.

Posted On:17-Sep-2019



Sembcorp Marine s Brazil Shipyard Completes Its 1st FPSO
Sembcorp Marine s Brazilian shipyard, Estaleiro Jurong Aracruz, has completed the construction works on its first floating production, storage and offloading (FPSO) project.
The vessel is constructed for Tupi B.V., a consortium comprising Petrobras Netherlands B.V., Total Brazil Services B.V., BG Gas Netherlands Holdings B.V. and Galp Sinopec Brazil Services B.V.
Petrobras P-68 FPSO left the shipyard on September 16 and will be deployed to the ultra-deepwater Berbigao and Sururu fields in Brazil’s Santos Basin.
With a length of 316 meters and a width of 54 meters, the P-68 will produce up to 150,000 barrels of oil per day (BOPD). It has a 1.6-million-barrel storage capacity and can accommodate 154 persons.
EJA s P-68 work scope includes fabricating six modules, pipe-racks and a flare, and integrating them on the vessel along with other free issue items. It also executed carry-over works on the FPSO s hull, which was built by another shipyard.
Following P-68, EJA will complete the P-71 FPSO modules fabrication and integration project for Tupi B.V.

Posted On:17-Sep-2019



Golden Ray Salvage Operation Resumes after Storm
A Unified Command responsible for the response and salvage efforts for capsized cargo vessel Golden Ray has continued operations after they were previously halted due to weather conditions.
The Hyundai Glovis-operated vessel started listing heavily after it became disabled on September 8. Of the 24 persons on board, 20 were evacuated immediately while the remaining four were extracted in a subsequent operation.
A Unified Command, consisting of the U.S. Coast Guard, Georgia Department of Natural Resources, and Gallagher Marine Systems, was formed on September 11 with the aim of ensuring the safety of the public and responders and facilitating the eventual salvage and safe removal of the vessel.
After being temporarily suspended due to heavy weather from Hurricane Humberto, operations resumed in full on September 16, with teams deploying response equipment and continuing salvage operations.
"We currently have approximately 160 local, state, and federal responders here to protect public health and the environment," John Maddox, State On Scene Coordinator, said.
The command said that no impacts on air quality have been detected to date, and a water-quality monitoring plan is being developed.
Commercial traffic in the Port of Brunswick has resumed on a case by case basis.

Posted On:17-Sep-2019



Iran Seizes Another Tanker for Allegedly Smuggling Fuel
Iran has seized another tanker in the Persian Gulf due to alleged smuggling of diesel fuel, according to Iran s semi-official Students News agency ISNA.
The undisclosed vessel was reportedly smuggling 250,000 liters of diesel fuel to the United Arab Emirates when it was detained by the country s Revolutionary Guards.
ISNA noted that the tanker was detained near the Greater Tunb island in the Gulf. The ship’s crew have been handed over to legal authorities in the southern Hormozgan province.
The move comes on the back of Iran s increased efforts to curb fuel smuggling by land to neighbouring countries and by sea to the Gulf states. Earlier this month, the country s coast guard seized a vessel for smuggling fuel in the Gulf and detained its 12 Filipino crew members.
In July, Iran seized the UK-flagged Stena Impero near the Strait of Hormuz for alleged marine violations. Iran s Foreign Ministry spokesman, Abbas Mousavi, on Monday noted that the tanker would be released soon.
The reported detention also occurred amid raised international tensions due to an attack on a major Saudi Arabian oil installation that happened over the weekend. Yemen s Iran-aligned Houthi movement claimed responsibility for the strike, while the United States blamed Iran itself for the incident. Iran denied the accusation, according to Reuters.

Posted On:17-Sep-2019



IUMI: Marine Cargo Premiums Inadequate to Cover Losses
The marine cargo market is in a state of ‘accelerating change as underwriters are taking action to address unprofitable results and improve performance, according to the International Union of Marine Insurance (IUMI).
"On a global basis, the cargo line is unprofitable and has been for a number of years. Premiums have not been technically adequate to cover losses and expenses and, as such, have not delivered an acceptable return for capital providers," Sean Dalton, Chair of IUMI s Cargo Committee, explained.
"A significant reason for this ongoing situation is the commoditization of this speciality line of business which has lowered entry barriers and attracted new entrants, some of whom are now exiting."
Speaking at IUMI s annual conference in Toronto, Canada, on September 16, Dalton reported a 2.5% increase in 2018 global premiums to USD 16.6 billion, compared to premium income for marine cargo insurance in 2017. The modest increase was largely attributed to continued growth in world trade coupled with exchange rate fluctuations which tend to affect cargo premiums more strongly than other sectors.
Global marine premiums stood at USD 28.9 million in 2018, representing a single percentage point rise from 2017. This modest rise is not significant to herald an upturn in the fortunes of the marine insurance sector, IUMI said. The USD 28.9 billion global income was split between the following geographic regions: Europe 46.4%, Asia/Pacific 30.7%, Latin America 10.4%, North America 6.2%, other 6.3%.
World trade global growth is expected to achieve 2.6% in 2019 and 3% in 2020. This, coupled with governments in emerging markets investing in infrastructure and promoting domestic manufacturing, gives a positive outlook for cargo insurance. However, weaker economic projections and concerns over trade wars may dampen expected growth and are of concern.
As informed, 2019 has already been impacted by nine major cargo vessel fires. They have resulted in the loss of life, injury and environmental damage, such as incidents aboard Maersk Honam and Grande America. Misdeclaration of cargo appears to be the main culprit and is driving some shipping companies to take the unprecedented step of announcing significant fines to those responsible.
Ashore, there have been cargo storage losses in 2017 and 2018 from nat-cat incidents as well as a number of significant fire losses over the past 12 months. The marine cargo market insures a significant amount of property contents storage under Warehouse/Storage Endorsements and "Stock Thru Put" policies. The current soft market has increased this risk profile as underwriters have been offering broader terms, higher nat-cat limits, lower deductibles and more competitive prices than their property counterparts would provide.
"In addressing these issues, cargo insurers are encountering old and new challenges. These include compliance, sanctions, War and SR&CC, emerging risks and new coverage requirements. With each cargo insured loss there are related uninsured losses. These might include business interruption due to supply chain issues, trade disruption, or loss of market," Dalton continued.
"Emerging technologies may provide tools and capabilities to enable the development of new products. To meet these needs cargo underwriters must get the basics right if they are to be in a position to capitalize on future opportunities. It is certain that exposures will continue to increase in size and complexity for the cargo underwriter and this will require a sustainable approach to the business to meet the demands of the present and the future."

Posted On:17-Sep-2019



Boskalis Signs Deal to Build Oil Export Terminal in Iraq
Dutch maritime company Boskalis has signed a deal with Iraq’s oil ministry related to the construction of a new export terminal in the country.
According to the Iraqi government, the contract was agreed with an aim of diversification of shipment routes, as well as increasing Iraq s export capabilities.

Posted On:17-Sep-2019



SK Trading International Signs IMO-Compliant VLSFO Supply Contracts
The trading subsidiary of South Korea s SK Innovation is said to have signed a number of contracts with shippers for the supply of very low sulfur oil (VLSFO) that complies with upcoming IMO 2020 regulations.
SK Trading International (SKTI) is expected to start supplying the VLSFO from the fourth quarter, a Reuters report cited a company official as saying.

Posted On:17-Sep-2019



Petrojam stands ready to supply right fuel to ships
As new legislation regulating the sulphur content in marine fuel takes effect in January 2020, Petrojam stands ready to supply 0.5 per cent bunker fuel at the right price and quality to the market.
This was stated by Minister of Science, Energy and Technology Fayval Williams in a keynote address at the Gala Dinner of the Maritime Authority of Jamaica /International Bunker Industry Association Second Caribbean Bunker Conference at Iberostar Suites Resort on September 12.

Posted On:17-Sep-2019



Credits: www.bunkerportsnews.com

Ports industry to launch People in Ports campaign as part of new Government Maritime Skills Route Map
The British Ports Association (BPA) and Port Skills and Safety (PSS) have welcomed the publication of the Government s new skills route map.
The BPA and PSS have been closely involved in the development of the People Route Map which includes a set of short-term, medium-term and long-term actions and commitments from Government to support maritime skills.

Posted On:17-Sep-2019



Credits: www.bunkerportsnews.com

China-run Hambantota port in Sri Lanka links with Thailand s Ranong
Sri Lanka s China managed Hambantota Port has inked a deal with Thailand s Ranong port with a view to developing shipping routes in the region, the company said.
A joint working group will be established to develop coastal shipping in the Bay of Bengal between the two ports.

Posted On:17-Sep-2019



Credits: www.bunkerportsnews.com

38% Rise in Khorramshahr Port Operations
A total of 699,341 tons of commodities were loaded and unloaded in Khorramshahr Port in the southern province of Khuzestan during the first five months of the current Iranian year (March 21-Aug. 22), indicating a 38% rise compared with the corresponding period of last year, the director general of Khorramshahr Ports and Maritime Organization said.

Posted On:17-Sep-2019



Credits: www.bunkerportsnews.com

Port Klang LNG terminal faces opposition
The planned construction and operation of a liquefied natural gas terminal at Paulau Indah, Port Klang in Malaysia is facing opposition from the professional maritime pilots organization, MPM.
MPM is tasked with the public safety and ship pilotage / navigational safety at all ports in Malaysia is concerned by the possible violation of public and port safety by the construction of the facility.

Posted On:17-Sep-2019



Credits: www.bunkerportsnews.com

KPA says container terminal works on despite graft probe
A Japanese contractor is on course to complete the second container terminal at Mombasa port by December 2021, officials have said, shrugging off fears that ongoing tender investigations could slow down works.
The Sh35 billion facility, which is being built on 100 acres at Kilindini Harbour to ease congestion has been under construction since January.

Posted On:17-Sep-2019



Credits: www.bunkerportsnews.com
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