Coast Guard News
April 23, 2020
Source: HMM
South Korean shipping major HMM has held a naming ceremony for the first of its twelve 24,000 TEU containerships.
The HMM Algeciras, described as the world’s largest boxship, was named at Daewoo Shipbuilding & Marine Engineering’s (DSME) Okpo shipyard in Geoje, Korea.... [Read More]
April 23, 2020
The South Korean government announced it would provide financial assistance of ₩1.25 trillion (around $1 billion) to local shipping companies negatively affected by the coronavirus pandemic. ... [Read More]
April 23, 2020
Two bulk carriers with at least 25 seafarers on board have been left to their own devices at anchor in the Port of Djibouti at the peak of the COVID-19 pandemic.
According to the International Transport Workers’ Federation (ITF), the two ships have been arrested over unpaid debts and the ships have been at anchor for months pending resolution of court proceedings.
The bulkers in question have been identified as M/V Arrybas and MV Ptolemeos, both flagged in Liberia. ... [Read More]
April 23, 2020
Illustration; Source: Pixabay
Hong Kong-listed China Development Bank Financial Leasing has entered into a contract with New Ocean Shipbuilding in Jiangsu for the construction of eight bulkers.
The 63,000 dwt bulkers will cost a total of $188.9 million.... [Read More]
April 22, 2020
The construction of First Ship Lease Trust’s first two 114,000 DWT LR2 newbuildings in China is progressing smoothly despite COVID-19 challenges to the shipbuilding industry, the company’s trustee manager said.
The ships, set to be fitted with scrubbers, are being built by COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd and were bought in December 2018 in a resale deal.
Singapore-listed FSL Trust spent $97.2 million on the fleet renewal contract.... [Read More]
April 22, 2020
The construction of First Ship Lease Trust’s first two 114,000 DWT LR2 newbuildings in China is progressing smoothly despite COVID-19 challenges to the shipbuilding industry, the company’s trustee manager said.
The ships, set to be fitted with scrubbers, are being built by COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd and were bought in December 2018 in a resale deal.
Singapore-listed FSL Trust spent $97.2 million on the fleet renewal contract.... [Read More]
April 22, 2020
Finland-based ferry company Viking Line is experiencing a growth in demand for freight transport onboard its ships, keeping its traffic volumes high despite the COVID-19 pandemic’s impact on the movement of goods.
The company’s passenger traffic has been slashed, however, a heavy volume of the freight traffic has managed to compensate for the fall to a certain degree.... [Read More]
April 22, 2020
The Maritime and Port Authority of Singapore (MPA) has awarded two new bunker supplier licences to Minerva Bunkering and TFG Marine, following its call for applications for new licences in December 2019.
“These two new players will increase the supply of marine fuel that is compliant with the International Maritime Organization (IMO) 2020 sulphur regulations in the Singapore bunker market,” the port authority said.... [Read More]
April 22, 2020
State-run Qatar Petroleum said Wednesday it has entered into a deal to reserve LNG ship construction capacity in China as part of ongoing North Field expansion projects.
Image courtesy of Qatar Petroleum
QP signed the deal with Hudong-Zhonghua Shipbuilding, a unit of China State Shipbuilding Corporation.... [Read More]
April 22, 2020
German container shipping major Hapag-Lloyd has cut its CO2 emissions per TEU kilometre by 50 percent when compared to the reference year of 2008, the company said.
The goal was achieved through economies of scale as the company introduced bigger and more efficient ships with improved water resistance on its routes.
The shipping industry has been under considerable pressure to reduce its carbon footprint, with regulatory authorities charting the way forward with ever stricter regulations.... [Read More]
April 22, 2020
BMT has released details of its next generation ‘Pentamaran’ platform for autonomous applications.
These vessels will be capable of performing commercial and defence missions including ISR, ASW and hydrographic surveying.
The Pentamaran design aims to reduce drag as much as possible.
BMT said that the tests have proven it offers significant improvements compared to mono-hulls, catamarans and trimaran.
The vessel features a very slender central hull and two smaller hulls or ‘sponsons’ on either side. ... [Read More]
April 22, 2020
Dubai-based terminal operator DP World has launched a plethora of online logistics tools and services enabling businesses to book shipments of cargo by any combination of sea, land, and air.
The company said the roll-out of the platforms was sped up by the ongoing challenges arising from the COVID-19 pandemic to keeping the trade moving.
The initiative follows DP World’s acquisition of SeaRates.com, a digital platform that enables global cargo transport, along with LandRates.com and AirRates.com. ... [Read More]
April 21, 2020
Nigerian Special Forces have boarded the Portuguese-flagged containership Tommi Ritscher and rescued 11 crew members who fled to the citadel after pirates attacked the ship, maritime security firm Dryad Global said in an update.
Based on the report, the boarding of the vessel by the special forces, which took place yesterday evening, was not opposed.
However, there has been no mention of the 8 crew members who didn’t make it to the citadel and who were reportedly held hostage by pirates on board.... [Read More]
April 21, 2020
Nigerian Special Forces have boarded the Portuguese-flagged containership Tommi Ritscher and rescued 11 crew members who fled to the citadel after pirates attacked the ship, maritime security firm Dryad Global said in an update.
Based on the report, the boarding of the vessel by the special forces, which took place yesterday evening, was not opposed.
However, there has been no mention of the 8 crew members who didn’t make it to the citadel and who were reportedly held hostage by pirates on board.... [Read More]
April 21, 2020
Danish ferry and logistics company DFDS has put 12 out of its 50 ferries in layups as a response to a drop in demand prompted by the COVID-19 lockdown measures which have slashed passenger volumes.
Since mid-March, DFDS has suspended two passenger routes, Copenhagen-Oslo and Amsterdam-Newcastle, while Channel and Baltic Sea passenger activity has been reduced to only essential travel.
Freight capacity has also dropped since end-March/beginning-April in the remaining network of 20 ferry routes but to a lesser extent.... [Read More]
April 21, 2020
Danish ferry and logistics company DFDS has put 12 out of its 50 ferries in layups as a response to a drop in demand prompted by the COVID-19 lockdown measures which have slashed passenger volumes.
Since mid-March, DFDS has suspended two passenger routes, Copenhagen-Oslo and Amsterdam-Newcastle, while Channel and Baltic Sea passenger activity has been reduced to only essential travel.
Freight capacity has also dropped since end-March/beginning-April in the remaining network of 20 ferry routes but to a lesser extent.... [Read More]
April 21, 2020
The COVID-19 pandemic has changed the way the world functions as governments and leaders across the globe have implemented unprecedented measures to curb the spreading of the virus.
The life as we know it changed completely with factory lockdowns, closures of unessential services and stay at home orders.
However, when it comes to committing to address the greatest danger to our planet, climate change, political leaders are not that adamant and proactive.... [Read More]
April 21, 2020
The Finnish technology group Wärtsilä has reported a 12 percent order intake fall during the first quarter of 2020 as a result of the global measures aimed at curbing the spread of the COVID-19 pandemic.
The order intake was worth EUR 1.2 billion when compared to EUR 1.4 billion in the same period last year, while the order book at the end of the quarter stood at EUR 5.7 billion, down by 4 percent year-on-year.
Profit before taxes for the quarter was EUR 43 million, down 45 percent when compared to EUR 78 million a year ago.... [Read More]
April 21, 2020
China’s Avic Dingheng shipyard has started building the seventh liquefied natural gas-powered vessel ordered by Sweden’s Gothia Tanker Alliance.... [Read More]