Category: Maritime

Korean firm to build 15 LNG carriers for Russia
September 11, 2017 No Responses

Korean firm to build 15 LNG carriers for Russia

A Korean company has received a contract to build 15 ice-breaking LNG carriers for Russia, the President of South Korea Moon Jae-in said while speaking at the Eastern Economic Forum in Vladivostok.   The tankers are said to be intended for the transportation of liquified natural gas from...
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Qatar inaugurates new seaport
September 6, 2017 No Responses

Qatar inaugurates new seaport

Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani has inaugurated  the Hamad Port in Umm Al Houl. The port, located 40km south of Doha, is the largest of its kind in the Middle East and has the capacity to handle all...
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Seaport operator to expand container facilities
September 4, 2017 No Responses

Seaport operator to expand container facilities

Malaysian port operator, Westports Holdings Berhad (Westports) informed that its wholly-owned subsidiary, Westports Malaysia Sdn Bhd (WMSB), has received an approval-in-principle (AiP) to expand its container facilities from Container Terminal 10 (CT10) to Con...
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COSCO Shipping records $26.3m profit in six months
August 30, 2017 No Responses

COSCO Shipping records $26.3m profit in six months

COSCO Shipping International (Hong Kong) Limited witnessed a rise in its earnings during the first half of 2017, driven by long-awaited signs of recovery in the shipping industry.   For the six months ended 30th June 2017, the group’s profit...
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Dakuku: We are ready to disburse CVFF Fund according to Law
August 29, 2017 No Responses

Dakuku: We are ready to disburse CVFF Fund according to Law

Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has assured Nigerian shipowners that the agency is making frantic efforts to disburse the Cabotage Vessel Financing Fund (CVFF) in line with set down regul...
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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...
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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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