Category: Maritime

Maersk To Attain Carbon Neutral Status By 2050
February 27, 2019 No Responses

Maersk To Attain Carbon Neutral Status By 2050

At the end of last year, the world’s largest shipping company Maersk revealed plans on becoming a carbon neutral company by 2050. The efforts are in line with the shipping industry’s push to halve its carbon footprint by 2050 compared to 2008. “We...
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Fire Destroys 34 Vessels
February 26, 2019 No Responses

Fire Destroys 34 Vessels

More than thirty vessels were burned in a major fire at Muara Baru Port in Penjaringan, Indonesia, on February 23, 2019. The incident in the subdistrict of North Jakarta affected a total of 34 vessels, according to DPKP DKI Jakarta, a regional...
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Container Carrier Declares $20.6m Revenue In 2018 Q4
February 24, 2019 No Responses

Container Carrier Declares $20.6m Revenue In 2018 Q4

United State based container carrier Matson closed the fourth quarter of 2018 with a considerably lower net income but higher revenues.  For the quarter ended December 31, 2018, net income stood at USD 20.6 million, compared a net income of...
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Samsung Secures $774.9m Contract For LNG Carriers
February 23, 2019 No Responses

Samsung Secures $774.9m Contract For LNG Carriers

South Korea’s Samsung Heavy Industries has clinched an order to build four liquefied natural gas (LNG) carriers. The shipbuilder received newbuilding orders from a US shipowner, SHI said in a regulatory filing without revealing further details. The shipbuild...
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A.P. Moller – Maersk Explains $8.7b Debt, 2019 Investment Agenda
February 22, 2019 No Responses

A.P. Moller – Maersk Explains $8.7b Debt, 2019 Investment Agenda

For the 2018 financial year, A.P Moller-Maersk net interest-bearing debt reduced from $14.8billion to $8.7billion.  Meanwhile, the company remains investment grade rated. Following the listing of Maersk Drilling through a demerger and subject to maintaini...
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DP World Acquires Pan-European Logistics Firm
February 21, 2019 No Responses

DP World Acquires Pan-European Logistics Firm

Dubai-based port operator DP World has acquired the pan-European logistics company P&O Ferries for a purchase consideration of GBP 322 million (USD 421 million). The company said that the transaction implies a 2017 Enterprise Value/EBITDA valuation multipl...
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Qatar Orders 60 New LNG Carriers
February 20, 2019 No Responses

Qatar Orders 60 New LNG Carriers

Saad bin Sherida Al-Kaabi, Qatari Minister of Energy and CEO of Qatar Petroleum, confirmed the country’s intentions to order up to 60 new LNG carriers. Al-Kaabi explained  that the Middle Eastern nation would order the vessels at a press conferen...
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Maritime Firm Records $75m Loss In 2018
February 19, 2019 No Responses

Maritime Firm Records $75m Loss In 2018

Norwegian maritime industry group Wilhelmsen ended 2018 — the first full year with present corporate structure — in loss. In the preliminary result for the year, the group reported a loss for the period of USD 75 million in 2018, compared to a loss...
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First Cameron LNG Export Gets US Green Lights
February 17, 2019 No Responses

First Cameron LNG Export Gets US Green Lights

The Cameron Liquefied Natural Gas (LNG) project came a step closer to loading its first LNG cargo for global export as U.S. Coast Guard personnel wrapped up a safety inspection at the site. The safety inspection included a review of the terminal’s...
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Vessel Fire Claims Six Casualties
February 16, 2019 No Responses

Vessel Fire Claims Six Casualties

Six people have lost their lives in an incident involving a vessel fire at the Port of Durban, according to the South African Maritime Safety Authority (SAMSA). The authority confirmed the casualties, adding that the extent of the fire caused the...
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ICTSI Unveils New Container Terminal
February 15, 2019 No Responses

ICTSI Unveils New Container Terminal

Philippines-based International Container Terminal Services Inc. (ICTSI) has inaugurated the newly-expanded Batumi International Container Terminal (BICT) in Georgia. Both the waterside and landside areas of the multipurpose terminal were expanded with the aim...
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Group Unveils Maritime Connectivity Platform
February 12, 2019 No Responses

Group Unveils Maritime Connectivity Platform

The Maritime Connectivity Platform Consortium (MCC), an international consortium for the digitalization of maritime sectors, officially started operations with a signing ceremony. The goal of MCC will be to bring common internet standards to maritime navi...
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Nigeria Begins clampdown On Vessels Over Non-Compliance With Cabotage Regime
February 11, 2019 No Responses

Nigeria Begins clampdown On Vessels Over Non-Compliance With Cabotage Regime

After several warnings, the Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced clampdown on vessels that do not comply with the provisions of the Cabotage Compliance Strategy introduced last year to ease the implementation of the Cabotag...
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CMA CGM Concludes Acquisition of CEVA Logistics
February 9, 2019 No Responses

CMA CGM Concludes Acquisition of CEVA Logistics

The European Commission has given the green light to French shipping major CMA CGM to acquire Swiss logistics company CEVA Logistics. Following the approval, CMA CGM will acquire sole control of the Switzerland-based company. The commission concluded that...
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