Category: Maritime

Fuel Supply Experts Implore Marine Sector On 2020 Compliance Solution
March 4, 2019 No Responses

Fuel Supply Experts Implore Marine Sector On 2020 Compliance Solution

The marine sector should look beyond just the initial choice of compliance solution ahead of the impending 0.5% global sulphur cap, according to Finland-based provider of fuel supply systems Auramarine. The company added that the industry needs to fully understand the...
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‘LNG Sets Path To Meet Green House Gas Reduction Targets’
March 3, 2019 No Responses

‘LNG Sets Path To Meet Green House Gas Reduction Targets’

Liquefied natural gas (LNG) is a viable pathway to meet the International Maritime Organization’s (IMO) 2050 greenhouse gas (GHG) targets, SEA\LNG boss has said.  As explained, the maritime industry has two broad but major environmental initiatives rela...
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Crane Manufacturer Acquires $62.8M Of COSCO Shares
March 2, 2019 No Responses

Crane Manufacturer Acquires $62.8M Of COSCO Shares

China’s crane manufacturer Shanghai Zhenhua Heavy Industries (ZPMC) has decided to invest in compatriot shipping company COSCO Shipping Holdings by acquiring CNY 419.9 million (USD 62.8 million) worth of COSCO shares.  ZPMC recently signed the share sub...
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Firm Votes $1.2B For New Vessels
March 1, 2019 No Responses

Firm Votes $1.2B For New Vessels

Bermuda-based shipowner Ship Finance International Limited (SFL) invested USD 1.2 billion in new assets in 2018, continuing its fleet renewal efforts. As explained, these transactions added USD 1.3 billion in future contracted charter revenue. The company inte...
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Firm Secures Contract For Expedition Ship
February 28, 2019 No Responses

Firm Secures Contract For Expedition Ship

Norwegian ship designer Ulstein has received a contract to design the fourth expedition cruise vessel for Miami-based SunStone Ships.  The vessel, Ocean Explorer, will be constructed at the China Merchants Heavy Industries (CMHI) shipyard. Belonging to t...
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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 200...
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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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