Shipping

  • For the bunker industry, 100% sulfur compliance...

    The world’s bunker industry is making progress in inching toward meeting the International Maritime Organization (IMO) global sulfur cap target by 2020, but with less than three years to go, achieving the target in its entirety still looks like a tough climb.

  • UASC mega container ship UMM Salal aground in...

    The UASC giant container ship UMM Salal ran aground in Malacca Strait on 2 nautical miles off Port Klang in Malaysia. The accident happened shortly after boxship left the Malaysian port in the early afternoon en route to Khor Fakkan in UAE

  • Nakilat showcases maritime expertise at Gastech...

    Nakilat is participating in the Gastech 2017 Conference and Exhibition taking place in Tokyo, Japan from 4 to 7 April 2017. Deemed as one of the most highly anticipated gas industry events, Gastech receives more than 25,000 visitors and features over 600 international exhibitors from over 70 countries worldwide.

  • LNG for bunkering has methane problem

    Using LNG for bunkering is a way to reduce greenhouse gas (GHG) emissions from the marine sector, according to the gas industry. We disagree, some leading academics say. And it is because of methane leakage.

  • NAKILAT LNG CARRIER COMES UNDER IN-HOUSE...

    Doha-based Nakilat assumed full ship management and operations of the Q-Flex LNG carrier, Mesaimeer, from STASCo (Shell Trading and Shipping Company Ltd.) with effect from 23 March 2017, as part of the planned and phased transition announced in October last year. The 216,000 cu m capacity Mesaimeer, delivered by Hyundai Heavy Industries in 2009, is wholly-owned by Nakilat and chartered by Qatargas.

  • Net profit of Cosco Shipping Ports decreased by...

    The net profit of Cosco Shipping Ports decreased by 43% in 2017 and amounted to 247 million USD. Despite of the sharply decreasing net profit, the revenues of the port operator rose by 1.1% to 556.4 million USD. the terminal business of the group suffered from the slowed growth of the world economy and the port industry, as well as the reduction in China’s foreign trade. Cosco Shipping Ports reported that profitability for gross profit decreased by 0.4%, to 35.8% due to increased costs.

  • DAMEN SCHELDE NAVAL SHIPBUILDING DELIVERS FIRST...

    Damen Schelde Naval Shipbuilding has handed over the first SIGMA 10514 Perusak Kawal Rudal (PKR) frigates to the Indonesian Ministry of Defence, on schedule and on budget. The ceremony took place at the PT PAL shipyard in Surabaya where the vessel was assembled. The Indonesian Ministry of Defence awarded the contract to Damen as main contractor for the construction of the first SIGMA 10514 PKR in December 2012. On receiving the ship, named the Raden Eddy Martadinata after one of the founders of the Indonesian Navy, the Ministry handed it on to the Navy.

  • Portable Dynamic Positioning System: Opportunity...

    Increased activity in offshore construction & maintenance and both pipe and cable lay has led to the need for vessels with true dynamic positioning (DP) capability. This need is the product of both increased activity in shallow and deep offshore waters and the infrastructure congestion of mature undersea fields. Conventional mooring systems utilizing anchors and anchor handling vessels are not practical in shallow congested fields due to the danger of dragging across pipelines and cable. In deeper waters, the weight and difficulty of handling the necessary scope and rope renders the traditional four-point moor less cost effective and impractical. Vessels with true DP capability are more attractive for these projects.

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Hapag-Lloyd sees higher earnings in full year 2017

German container shipping firm Hapag-Lloyd  said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost savings. “The outlook is fairly positive,” Chief Executive Rolf Habben Jansen said in a video interview on the company’s website. “Supply and demand are getting closer and closer together.”

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Changing trade flows and China’s appetite for diversified crude oil

Global crude differentials have narrowed and higher crude oil volumes are moving from west to east. S&P Global Platts trade flow tool cFlow shows that in April alone, China likely saw the arrival of at least six VLCCs and four Suez-max vessels transporting North American crude. In this video, S&P Global Platts senior analyst Yen Ling Song examines China’s appetite for US crude and how this might affect the flow of supply from Russia.

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Gwadar Port will boost Pakistan’s, region’s economy: China

Pakistan’s strategic Gwadar Port, being developed by China under a $50 billion initiative, will have a unique place in Beijing’s ambitious plan to link itself to the Middle Eastern market and expand its economic influence in the region, according to a top Chinese diplomat.

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Shipping Leaders Experience Market Tumble

Two sector leaders experienced a poor start to the trading week despite the shipping industry seeing an improvement over the last 12 months.

Diana Shipping, a dry bulk shipping service provider, and DryShips, a cargo vessel owner, saw their shares drop considerably during Monday trading with DryShips hitting a brand new 52-week low.

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Norway First to Join HNS Shipping Treaty

Norway has become the first country to become a contracting state to a key compensation treaty covering the transport of hazardous and noxious substances (HNS) by ship.

The HNS Convention establishes the principle that the 'polluter pays' by ensuring that the shipping and HNS industries provide compensation for those who have suffered loss or damage resulting from an HNS incident.

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