Category: Maritime

Samsung Electronics Stakes $192m On SHI Shares
April 8, 2018 No Responses

Samsung Electronics Stakes $192m On SHI Shares

Samsung Electronics intends to participate in Samsung Heavy Industries’ (SHI) rights offering by investing KRW 204.06 billion (USD 191.8 million). The technology company unveiled the decision to acquire 34.76 million shares in SHI in its stock exchange filing on April...
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NPA Implores Stakeholders On $42.3m, N600m Debt
April 4, 2018 No Responses

NPA Implores Stakeholders On $42.3m, N600m Debt

Ahead of the proposed “aggressive debt recovery exercise” of Nigerian Ports Authority (NPA), Rivers Port Complex has explained  that it generated $62.3million and N1.2Billion in 2017, compared to $57.6million and N772.4million recorded in 2016.   Out of ...
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First LNG Cargo From United States Arrives In Indian
April 3, 2018 No Responses

First LNG Cargo From United States Arrives In Indian

India has received its first LNG cargo from the United States, gas utility company GAIL said. The Denmark-flagged Meridian Spirit carrying 120,000 tons of cargo docked at Dabhol on March 30, 2018. GAIL hired the ship in September 2017 to...
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India Blacklists Two Firms For Abandoning Seafarers
April 2, 2018 No Responses

India Blacklists Two Firms For Abandoning Seafarers

The Government of India has blacklisted two companies from United Arab Emirates (UAE) for seafarer abandonment.  The companies in question are shipping and management firm Shah Al Arab Marine Agency and M/s Alco Shipping Services LLC, the Directorate General...
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COSCO Shipping Declares $423.3m Profit In 2017
April 1, 2018 No Responses

COSCO Shipping Declares $423.3m Profit In 2017

China’s major COSCO Shipping Holdings delivered improved earnings in 2017 on the back of a broad economic recovery globally and increasing demand for container shipping services. The company informed that profit attributable to its equity holders for the ye...
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COSCO Names Another 20,000 TEU Boxship
March 28, 2018 No Responses

COSCO Names Another 20,000 TEU Boxship

China’s COSCO Shipping Lines has named COSCO Shipping Leo, a 20,000 TEU containership newbuild.  The naming ceremony for the giant boxship was held in Nantong on March 22, 2018. Built by Nantong COSCO KHI Ship Engineering (NACKS), COSCO Shipping Leo is...
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NIMASA Seeks National Policy to Actualize Maritime Strategy
March 27, 2018 No Responses

NIMASA Seeks National Policy to Actualize Maritime Strategy

The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA Dr. Dakuku Adol Peterside has called for the implementation of a National Maritime Policy in Nigeria to serve as catalyst for the actualization of the objectives of the...
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ABUJA MoU Moves Against Substandard Shipping In Africa
March 26, 2018 No Responses

ABUJA MoU Moves Against Substandard Shipping In Africa

In a bid to harmonize port state control inspection procedures that will lead to the elimination of substandard shipping in the West and Central Africa sub-region, the Abuja Memorandum of Understanding (MoU) will host its 3rd Ministerial Conference and 9th...
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1,000 Seaports Commit To Sustainable Growth, Development
March 25, 2018 No Responses

1,000 Seaports Commit To Sustainable Growth, Development

Nearly 1,000 ports and port-related companies have  committed themselves in Antwerp to achieving the 17 Sustainable Development Goals (SDGs) set by the United Nations. On March 22, a two-day event held under the auspices of the World Ports Sustainability Prog...
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Volkswagen Places Order For LNG-Powered Car Carrier
March 24, 2018 No Responses

Volkswagen Places Order For LNG-Powered Car Carrier

China’s Xiamen Shipbuilding has started building the first of two 7,500 CEU LNG pure car truck carrier (PCTC) vessels ordered by Siem Car Carriers. According to the company, from 2019, the ships powered by liquefied natural gas are to be operated...
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Initiative For Climate-Smart Shipping Debuts
March 23, 2018 No Responses

Initiative For Climate-Smart Shipping Debuts

Electromobility for Shipping is the name of a new collaboration between six actors with the aim to increase the electrification of shipping. Swedish ferry company Stena AB, the Swedish Shipowners’ Association, ABB Sweden AB, ABB Marine Oy, research institut...
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Dakuku: Maritime Sector Has Capacity to Catalyze Economic Growth
March 20, 2018 No Responses

Dakuku: Maritime Sector Has Capacity to Catalyze Economic Growth

  The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has stated that the Nigerian maritime sector has the capacity to catalyze economic growth and also gave the assurance that the Agency will not...
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CMA CGM Lifts 19m Containers In 2017, Explains $701m Income
March 18, 2018 No Responses

CMA CGM Lifts 19m Containers In 2017, Explains $701m Income

French shipping giant CMA CGM returned to profitability in 2017 as its consolidated net income group share for the year amounted to USD 701 million, a sharp increase compared to the loss of USD 452 million reported in 2016. In...
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Kuwait Seals $467m Financing for Eight Tankers, Orders VLCC
March 16, 2018 No Responses

Kuwait Seals $467m Financing for Eight Tankers, Orders VLCC

Kuwait Oil Tanker Company (KOTC) has signed  a financing deal with a syndicate of banks worth around USD 467 million (KD 140 million). The financing will be provided by Warba Bank, Ahli United Bank and Kuwait International. The ten-year financing...
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