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Insurance

  • Onboard connectivity critical for crew welfare, reveals latest Seafarers...

    As part of the Standard Club’s continuing commitment to safety at sea and focus on seafarer wellbeing, this year the Club has partnered with the Mission to Seafarers, alongside Wallem Group to support the 2021 Seafarers Happiness Index report.

     

  • Insurer of ship that blocked Suez Canal says reduced compensation claim still...

    UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and cover related losses was still “exceptionally large.”

     

  • 2021 financial statements – Britannia P&I announces satisfactory results

    Total calls and premiums for 2020/21 were marginally lower than the previous year. The underwriting result was a deficit of USD20.5m before allowing for the investment return allocated to the technical account. The strong investment performance achieved for the financial year ended resulted in an overall surplus for the year of USD37.0m after tax. In October 2020 there was a capital distribution to Members of USD10.0m. The total capital resources of the Group therefore increased by USD27m to USD449m at 20 February 2021. Additional assets totalling USD177.8m held by Boudicca Insurance Company Limited are available to Britannia to meet future claims.

     

Oil & Gas

Ports

Finance

  • HMM ships medical supplies to India for $1 per container

    With India fighting a deadly second wave of Covid-19, South Korean shipping line HMM has announced that it will charge $1 for each container containing medical supplies sent to the nation, with vessel space and equipment assigned top priority.

     

  • Genting Hong Kong reaches terms for $2.6 billion recapitalization

    Genting Hong Kong, the owners of three cruise lines, German shipyards, and entertainment/leisure businesses, announced that it has completed terms for a $2.6 billion recapitalization of the business that will keep its shipyards operating and return the company to financial stability. In August 2020, citing the material impact on its financial positions and results from operations due to the pandemic, Genting Hong Kong announced that it was suspending payments to its financial creditors to preserve liquidity while it sought to refinance the company.

     

  • AB Klaipėdos nafta preliminary revenue for April 2021

    The preliminary sales revenue of the Company’s oil terminals for April 2021 comprises EUR 0.9 million and is lower by EUR 2.2 million or by 71 % compared to April of 2020. The preliminary sales revenue of the Company’s oil terminals for the four months of 2021 comprises EUR 6.3 million and is lower by 41 % compared to the same period of 2020.

     

Shipping

  • Fire-damaged NYK Boxship is headed for Oakland...

    The engine room fire aboard the boxship NYK Delphinus is under control and a commercial tug has taken the vessel in tow, bound for Oakland. 

     

  • Specialist heavy lift ship to deliver one of the...

    One of the largest single pieces of machinery to be brought into the Port of Newcastle will arrive tomorrow, Sunday 16 May.

     

  • CMA CGM Vessel will set seven records on Atlantic...

    For the second time in less than a year, a containership operated by CMA CGM will set size records as the largest boxship to call at ports along the Atlantic Seaboard. The 16,022 TEU CMA CGM Marco Polo will set a total of seven North American big ship records in 11 days.

     

  • Delays and Capacity Constraints are New Normal in...

    New data shows that the strains on global container shipping are continuing with shippers and carriers faced with ongoing delays, congestion, and capacity shortages. With shippers entering their second year of pandemic-induced volatility, project44, a tracking and analysis platform for shippers and logistics service providers, predicts that volatility and under capacity are becoming the new normal for the container shipping industry.

     

  • World's Biggest Civilian Hospital Ship...

    After several years of construction at CSSC's Tianjin Xingang shipyard in northern China, the hospital ship Global Mercy - the largest civilian vessel of her kind ever built - has completed her official sea trials. After some final fitting out, the shipyard will present the ship for delivery this summer. 

     

Legal & Regulations

Environment

  • NGOs call on EU to exclude Biofuel and LNG from new Clean-Fuel Program

    A coalition of NGOs led by Transport & Environment has called on the European Commission to "explicitly exclude" biofuels and natural gas from a new clean marine fuel initiative, advocating for investment in electricity-based fuels instead.

     

  • IOG enters carbon capture and storage research project

    Independent Oil and Gas (IOG), the UK-based company developing gas fields in the North Sea, said Friday it had signed a collaboration agreement with GeoNetZero CDT to explore carbon capture and storage opportunities.

     

  • Port of Corpus Christi plans Green Hydrogen production facility

    The Port of Corpus Christi, Teas is joining a growing list of ports around the globe seeking to become part of the emerging hydrogen infrastructure to support the maritime and other industries. The port plans to develop renewable energy infrastructure to support the production of green hydrogen and potentially to provide renewable power directly to the port and its customers.

     

Education

  • Consolidating courses for user friendly, secure...

    Over the past 12 months, here at Ocean Technologies Group we have been reviewing and consolidating all of Videotel’s and Seagull’s certified eLearning courses into the new Ocean Learning Library. 54 of our most popular have been consolidated with each course designed, as ever, to make seafarers safer and better at what they do. These courses can be taken through a company subscription, via the Ocean Learning Platform, or Pay-As-You-Go from our website.

     

  • AASTS organized virtual orientation sessions to...

    The Arab Academy for Science, Technology and Maritime Transport branch in Sharjah (AASTS), recently organized virtual orientation sessions under the initiative titled “Connecting maritime professionals with leaders of tomorrow”. The primary goal of the event was to connect government school students with leading names in the maritime sector.

  • ACICT partners with Logix to build the largest...

    The Academy Company for Information Communication Technology (ACICT), the technological investment arm of the Arab Academy for Science Technology & Maritime Transport (AASTMT), has launched a strategic partnership with Logix, a leading company in smart transformation and information security, to launch the largest smart and secure educational platform in Egypt and the Arab World. This is part of ACICT’s efforts to support Egypt Vision 2030 in developing knowledge, innovation and scientific research.

     

  • Digital tools: e-learning for DESMI’s ballast...

    Marine engineers and crew members can now train and learn about DESMI Ocean Guard’s CompactClean ballast water management system with two digital offline tools. One is a computer-based training (CBT) program and the other is a mobile app. 

     

  • Entrepreneurship Center, AASTMT organised an...

    The AASTMT Entrepreneurship Center held an online workshop titled “How to Become an Entrepreneur”, which is the first in a series that aims to prepare AASTMT students, who are willing to participate in the “Arab Rally for Entrepreneurship”. This year, the annual competition focused on entrepreneurship in the maritime sector. The virtual workshop was hosted by Dr. Wael El-Desouky, Director of the Entrepreneurship Center, AASTMT, with the participation of more than 50 students representing the academy from Egypt, UAE, Syria and Greece.

     

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