Category: Maritime

Firm Acquires Two 19,400 TEU Boxships
January 3, 2019 No Responses

Firm Acquires Two 19,400 TEU Boxships

Bermuda-based shipowner Ship Finance International Limited has acquired two 2016-built 19,400 TEU container vessels and contracted the vessels until late 2033 to an unnamed container line on long term bareboat charters. The contracts increase the company’s fixed rate charter backlog by...
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Tanker Corporation To Relist Shares On Exchange In January
December 30, 2018 No Responses

Tanker Corporation To Relist Shares On Exchange In January

Chinese transportation company Nanjing Tanker Corporation, part of Sinotrans & CSC, will relist on Shanghai Stock Exchange on January 8, 2019. The opening price of its stock will be CNY 4.31 (USD 0.63) per share, the company said in its...
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Maersk Line Eyes Land-Based Acquisitions
December 29, 2018 No Responses

Maersk Line Eyes Land-Based Acquisitions

World’s largest shipping company Maersk is reportedly targeting acquisitions on land to bolster its logistics operations as part of the group’s transformation from a conglomerate to an integrated global container logistics company. “The future will be ve...
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Firm Raises $10m To Advance Autonomous Ship Technology
December 28, 2018 No Responses

Firm Raises $10m To Advance Autonomous Ship Technology

Boston-based Sea Machines Robotics has raised USD 10 million that would enable the company to further develop autonomous solutions for the maritime industry. As informed, the investment marks one of the largest venture rounds for a marine- and maritime-focused...
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NYK Secures Green Loan For Its 1st Methanol-Fueled Chemical Tanker
December 28, 2018 No Responses

NYK Secures Green Loan For Its 1st Methanol-Fueled Chemical Tanker

Japanese shipping giant NYK has secured a green loan to finance the construction of its first methanol-fueled chemical tanker set for delivery in 2019.  The JPY 2 billion (USD 18.04 million) loan will be provided by Taiyo Life Insurance Company ...
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Firm Faces $9.6m Fine Over Subcontracting Practices
December 27, 2018 No Responses

Firm Faces $9.6m Fine Over Subcontracting Practices

Citing unlawful subcontracting practices, the South Korean Fair Trade Commission  has fined Daewoo Shipbuilding & Marine Engineering (DSME)  $9.6 million.    According to investigators, from 2013 to 2016, DSME appointed 27 subcontractor...
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2018 Tanker Deliveries May Slip Into 2019
December 26, 2018 No Responses

2018 Tanker Deliveries May Slip Into 2019

2018 has been a challenging year for tankers with rates bottoming out in the third quarter of the year, and finally ushering in a long-anticipated market recovery.  Due to weak industry returns and attractive scrap prices, owners provided some relief...
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NIMASA, STOAN, MWUN Others Sign Collective Bargaining Agreement
December 20, 2018 No Responses

NIMASA, STOAN, MWUN Others Sign Collective Bargaining Agreement

In a bid to ensure a better living standard for dock workers in the Nigeria maritime industry, the Nigerian Maritime Administration and Safety Agency (NIMASA) alongside other associations in the sector under the aegis of the National Joint Industrial Council.....
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Firm Secures $12m For Hydrogen-Powered Vessels
December 19, 2018 No Responses

Firm Secures $12m For Hydrogen-Powered Vessels

The Havyard project with Havila Kystruten on hydrogen-powered coastal route operations is to receive $12 million in funding from Pilot-E. The company said that the initiative could result in vessels with up to five times longer zero-emission voyages than other...
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US Coast Guard Lauds NIMASA, Offers Advise On Port Security
December 18, 2018 No Responses

US Coast Guard Lauds NIMASA, Offers Advise On Port Security

The United States Coast Guard has commended the Nigerian Maritime Administration and Safety Agency (NIMASA) for its efforts to improve security and operational efficiency within Nigeria’s maritime domain. The commendation was given in Lagos by a visiting coa...
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Firm Takes Delivery Of First LNG-Powered Container
December 17, 2018 No Responses

Firm Takes Delivery Of First LNG-Powered Container

Finland-based company Containerships, recently acquired by French CMA CGM, has welcomed into the fleet its first LNG-powered container vessel, M/S Containerships Nord, at Wenchong Shipyard, China. This is the first of a total of four LNG-fu...
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Agency Explains New Seaports Development Agenda
December 16, 2018 No Responses

Agency Explains New Seaports Development Agenda

The Ukrainian Sea Ports Authority has taken the next step in its development plans for the ports of Mariupol and Berdiansk in the Azov Sea. Namely, the authority, which was created for the integrated development of the port infrastructure of Ukraine,...
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Nigeria Approves $22.99m For Maritime Security
December 13, 2018 No Responses

Nigeria Approves $22.99m For Maritime Security

The Federal Executive Council (FEC) on Wednesday approved 22.995million dollars (N7.14billion) to enhance security of the nation’s Maritime sector The Minister of Transportation, Mr Rotimi Amaechi, disclosed this when he briefed State House correspondents on...
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COSCO, Abu Dhabi Ports Open New Terminal
December 11, 2018 No Responses

COSCO, Abu Dhabi Ports Open New Terminal

COSCO Shipping Ports and Abu Dhabi Ports on Monday inaugurated  CSP Abu Dhabi Terminal at Khalifa Port, adding Abu Dhabi as the regional hub for COSCO’s global network of 36 ports as part of China’s Belt and Road Initiative. This...
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