Category: Maritime

CMA CGM To Test Sustainable Marine Biofuel
March 13, 2019 No Responses

CMA CGM To Test Sustainable Marine Biofuel

French container shipping company CMA CGM and Dutch Port of Rotterdam have joined forces with IKEA Transport & Logistics Services and the GoodShipping Program to test and scale the use of sustainable marine biofuel oil. The test will commence with...
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Container Terminal Declares $1.2B Revenue For 2018
March 11, 2019 No Responses

Container Terminal Declares $1.2B Revenue For 2018

Philippines-based port management company International Container Terminal Services (ICTSI) has increased its 2018 profit on the back of a six percent increase in TEU volume and inclusion of new terminals. Consolidated volume for 2018 rose to 9,736,621 TEUs, c...
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Hyundai Acquires Daewoo Shipbuilding Firm
March 10, 2019 No Responses

Hyundai Acquires Daewoo Shipbuilding Firm

South Korea’s shipbuilding group Hyundai Heavy Industries (HHI) has signed a formal deal to proceed with the acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering (DSME).  The deal was inked with Korean state lender Korea Development...
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DAKUKU SEEKS ACTIVE INVOLVEMENT OF WOMEN IN BLUE ECONOMY
March 9, 2019 No Responses

DAKUKU SEEKS ACTIVE INVOLVEMENT OF WOMEN IN BLUE ECONOMY

The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has praised women in the country for their contributions and achievements in the typically male-dominated maritime sector. But he also called for the...
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CMA CGM Explains $1.2b Cost-Cutting Plan
March 5, 2019 No Responses

CMA CGM Explains $1.2b Cost-Cutting Plan

French shipping major CMA CGM is launching a USD 1.2 billion cost reduction plan despite record revenues seen in 2018. As informed, the company will implement “a global plan” in 2019 to improve its operational performance. CMA CGM intends to...
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Firm Invites Bids For Design Of New LNG Bunkering Vessels
March 5, 2019 No Responses

Firm Invites Bids For Design Of New LNG Bunkering Vessels

Greece-based company probunkers is taking one more step towards the implementation of its LNG bunkering project by inviting stakeholders’ proposals for the design of the company’s LNG bunkering vessels (LNGBVs). As part of its new project, probunkers&nbs...
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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 u...
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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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