ICTSI Sells Stake in Motukea Port
International Container Terminal Services, Inc. (ICTSI) is selling its 30% stake in a company that operates the Motukea Port, Papua New Guinea.According to a stock exchange announcement…
Ship Recycling: Wallenius Wilhelmsen Wins Award
Norwegian/Swedish shipping company Wallenius Wilhelmsen’s role in developing the pioneering Ship Recycling Transparency Initiative has been recognised with another award from the automotive sector…
JFD Pact with Aquacentrum Den Helder
The subsea operations and engineering company JFD has signed a strategic partnership with Netherlands-based Aquacentrum Den Helder to provide submarine escape training.Aquacentrum…
PetroLogistics Contract Goes to McDermott
Texas-based PetroLogistics II, a portfolio company of Quantum Energy Partners, has awarded McDermott International, Inc. a contract to provide front-end engineering…
Offshore Wind Cable Market to Reach $3B
The global offshore wind cable market is estimated to grow at CAGR above 16% over the forecast time frame 2019 to 2026 and reach the market value around $3 billion…
Pioneer Marine Gets Tufton Oceanic Funds
Greece-based global shipping company specializing in the transportation of dry bulk commodities Pioneer Marine said that it has entered into a commercial management…
Stena Seeks India's Help to Release Ship
Stena Bulk chief executive and president Erik Hanell wrote to Indian prime minister Narendra Modi to personally enter the efforts to secure the release of UK-flagged…
GRSE Launches FPV for Indian Coast Guard
Kolkata-based defence shipyard Garden Reach Shipbuilders & Engineers (GRSE) launched the Fifth Fast Patrol Vessel (FPV) for the Indian Coast Guard at Raja Bagan Dockyard Unit of GRSE…
Green Group Asks Cosco to Avoid HFO in Arctic
Clean Arctic Alliance has sent its second letter to Cosco, in which the NGOs urge the Chinese liner company to make public what fuel types its vessels use in the…
Nansha Doubles Direct Sailings to Rotterdam
The deep-water port of Nansha in Guangzhou, a city of 15 million people in the vicinity of Hong Kong, has doubled the number of direct connections with North Europe and West Africa…
Oakland Port Sees Record Imports in July
The Port of Oakland, a container ship facility located in Oakland, California, in the San Francisco Bay, said that July was the busiest in the Port’s 92-year history for containerized import cargo.
Corvus Energy Gets Shell Ventures Investment
Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.The investment is a step towards Shell’s ambition…
ForSea Mercandia 4 to Become Freight-Only Ferry
Swedish ferry operator ForSea, the Helsingør-Helsingborg ferry service, has decided to convert Mercandia 4 from a passenger and freight vessel to a pure freight vessel."As a consequence…
DNV GL Launches OMA Services
The world’s largest resource of independent energy experts and certification body DNV GL launched a new service in The Operational Modal Analysis (OMA), also known as ambient modal identification…
UK Warship Sails for Gulf Mission
British warship HMS Kent set sail for the Gulf on Monday to join a U.S.-led mission protecting commercial shipping vessels in the region amid heightened political tension between the West and Iran.Britain has joined the United States in a maritime security mission in the Gulf to protect merchant vessels.That comes after Iran seized a British oil tanker in the Strait of Hormuz. On July 4 British marines seized an Iranian vessel…
Mitigating Maritime Risk
“The First Steps in Mitigating Contemporary Risks to our Strategic Sea Lines of Communication”It is indisputable that the world’s economy floats on seawater. It is equally indisputable that international maritime transportation is the tool that keeps the global economy moving. The world economy has surged over the last half century, and that growth has been largely driven by globalization and the consequent reduction in barriers to trade.
Port of Virginia Posts Record July Volumes
July is Second Busiest Month in Port of Virginia’s History.The Port of Virginia in July processed 265,559 TEUs (twenty-foot equivalent units) in July, making it the second busiest month in the port’s history.The strong cargo performance was driven by an increase of more than 4 percent in loaded import containers, and a jump of nearly 18 percent in export empty containers, which are being repositioned across the globe to handle peak season cargo.“We are continuing to set volume records.
Port of Los Angeles Reports Record July TEUs
Volumes Increase 9.4% Compared to Previous Year.For the fourth consecutive month, the Port of Los Angeles has set a new single-month cargo record. In July, the Port moved 912,154 Twenty-Foot Equivalent Units (TEUs), the busiest July in the Port’s 112-year history. “Container exchange per vessel reached 9,915 TEUs, the highest and most efficient level we’ve ever experienced,” said Port of Los Angeles Executive Director Gene Seroka.
Baltic Index Rises on Capesize, Panamax Rates
The Baltic Exchange's main sea freight index rose on Monday, supported by strong demand across capesize and panamax vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 26 points, or 1.5%, to 1,774 points, level last seen on August 5.The capesize index added 44 points, or 1.4%, to 3,266 points. Average daily earnings for capesizes, which typically transport 170…
Cargo Dips in July at Port of Long Beach
Tariffs continue to hamper trans-Pacific trade.Port of Long Beach cargo volumes last month were down from the previous July, when the number of containers moved through the harbor neared 700,000 twenty-foot equivalent units (TEUs).The July 2019 total, 621,780 TEUs, was 9.7% less than last year. Imports decreased 9.9% to 313,350 TEUs, and exports shrank 6.8% to 111,654 TEUs. Empties were 11% lower, at 196…
