Category: Maritime

Top ships under investigation over share issuance scheme
August 28, 2017 No Responses

Top ships under investigation over share issuance scheme

An investigation has been launched on behalf of investors of Top Ships, a Marshall Islands-incorporated tanker owner and operator, into the company’s dealings with Kalani Investment. According to US-based law firm Glancy Prongay & Murray LLP (GPM), the investigation concerns the company and...
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Total stakes $7.5billion for Maersk Oil Business
August 22, 2017 No Responses

Total stakes $7.5billion for Maersk Oil Business

Danish transport and energy conglomerate, A.P. Møller – Mærsk A/S has signed an agreement to sell Maersk Oil to Total S.A  for $7.45 billion in a combined share and debt transaction.   As explained by Maersk, the separation of the energy...
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CMA CGM to build world’s largest boxships
August 21, 2017 No Responses

CMA CGM to build world’s largest boxships

French liner major CMA CGM has reportedly signed a letter of intent (LOI) with two Chinese yards on the construction of up to nine 22,000 TEU megaships.   Specifically, in line with the LOI, CSSC Hudong-Zhonghua would be in charge of...
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NISA lauds new cabotage compliance strategy
August 21, 2017 No Responses

NISA lauds new cabotage compliance strategy

The recent moves by the Nigerian Maritime Administration and Safety Agency (NIMASA) to ensure full implementation of the Cabotage Act, 2003 through the New Cabotage Compliance Strategy (NCCS) has continued to receive commendation from Stakeholders.   This is ...
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Maersk CEO: For now, no reason to order new megaships
August 18, 2017 No Responses

Maersk CEO: For now, no reason to order new megaships

There is no incentive to order new ultra large containerships from a cost perspective right now, despite extremely low prices of newbuilding tonnage, Chief Executive Officer of A.P. Møller – Mærsk A/S,Søren Skou has said   As highlighted by Skou, five ...
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Maersk Group posts $264m loss in Q2
August 17, 2017 No Responses

Maersk Group posts $264m loss in Q2

Danish energy and transportation giant A.P. Moller – Maersk sailed into a loss of $ 264 million in the second quarter of 2017, a switch from last year’s profit of $118 million. Maersk said the loss was due to impairments...
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NIMASA DG in Jamaica, explains benefit of deep sea mining
August 11, 2017 No Responses

NIMASA DG in Jamaica, explains benefit of deep sea mining

Nigeria is set to benefit from deep sea mining through effective harnessing of opportunities by working with the International Seabed Authority (ISBA), the Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside ha...
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Hong Kong issues block exemption for liner VSAs
August 10, 2017 No Responses

Hong Kong issues block exemption for liner VSAs

Hong Kong has granted a block exemption order (BEO) for vessel sharing agreements (VSAs) in the liner shipping industry.   The country’s competition commission issued the order on August 8 in response to an application received from the Hong Kong Liner Sh...
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At Taiwo Afolabi’s maritime conference, experts task FG on PPP model for port infrastructure development
August 8, 2017 No Responses

At Taiwo Afolabi’s maritime conference, experts task FG on PPP model for port infrastructure development

SIFAX Group, a multinational corporation with diverse interests in Maritime, Aviation, Haulage & Logistics, Oil & Gas and Hospitality, and other maritime experts have urged the Federal Government to adopt the public-private partnership (PPP) model to a...
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Dakuku: Africa set to tackle piracy, other maritime crimes
August 2, 2017 No Responses

Dakuku: Africa set to tackle piracy, other maritime crimes

The Chairman of the Association of African Maritime Administrations (AAMA) Dr. Dakuku Peterside has stated that Maritime Administrations (MARADs) in Africa are set to tackle the twin issue of piracy, sea crime and illegal migration in the continent.   The...
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‘IMO’s emission reduction plan makes ‘modest’ progress’
July 30, 2017 No Responses

‘IMO’s emission reduction plan makes ‘modest’ progress’

The International Maritime Organisation’s (IMO) tentative step towards a plan to cut shipping’s climate emissions represents only ‘modest’ progress, Transport & Environment cited the Marshall Islands’ transport minister Mike Halferty. Earlier ...
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How to harness huge economic potentials in African seas, oceans, by NIMASA DG, others
July 25, 2017 No Responses

How to harness huge economic potentials in African seas, oceans, by NIMASA DG, others

To commemorate this year’s “Africa Day of Seas and Oceans”, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA),  Dr. Dakuku Peterside has explained that Africa seas and oceans possess huge economic opportunities that...
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NIMASA begins 24 hour turnaround time for issuing debit notes
July 24, 2017 No Responses

NIMASA begins 24 hour turnaround time for issuing debit notes

In compliance with the Presidential directive on the resumption of 24 hour port operations in Lagos ports, the Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced a 24 hour turnaround time for analysing cargo manifests and issuing Debit N...
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COSCO forecasts 50 % drop in profit
July 20, 2017 No Responses

COSCO forecasts 50 % drop in profit

Hong Kong-listed COSCO Shipping Energy Transportation forecasts a drop in profit for the first six months of this year of up to 57 percent year-on-year. Specifically, the group’s net profit attributable to the equity holders is expected to range between...
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