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Cargo ship grounding, Gulf of Riga
General cargo ship TRANSFORZA reportedly (not confirmed) ran aground in Gulf of Riga, Baltic sea south of Kihnu island, Estonia, on Mar 21 or early Mar 22. The ship is en route from Parnu Estonia to Finland. According to Baltic Ice Conditions Map, central part of Gulf of Riga is covered with ice 5-20 centimeter thick, the ship seemingly changed course and steered to shallows, probably because of ice, trying to find clear water or avoid being stuck.Posted On:22-Mar-2018
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Troubled MAERSK container ships Update Mar 22
MAERSK HONAM and tugs engaged in salvage were in vicinity 20 06N 065 14E. MSC issued a statement on Mar 21 with regards to port of destination and containers on board:
Maersk Line has now informed us that Maersk Honam will be towed to Jebel Ali where cargo will be off-loaded. The ETA is still to be confirmed, and may be approximately two weeks from now.Posted On:22-Mar-2018
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Wartsila Nets Extended Maintenance Deal for Crowley s ATBs
The technology group Wartsila has won an expanded deal for the maintenance of eleven articulated tug barges (ATBs) owned and operated by US-based Crowley. The agreement, signed in December 2017, extends the original contract term from 2019 to 2023, and covers the maintenance of 22 Wartsila engines installed on board the eleven vessels. The contract is Wartsila s first maintenance agreement to cover complete propulsion systems, including seals and bearings.Posted On:22-Mar-2018
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SM Line could partner with Cosco
SM Line, a small container shipping company formed from the remaining assets of Hanjin Shipping, is considering a partnership with China's Cosco Shipping Lines.
While the companies have not yet signed a formal memorandum of understanding, SM Line said Tuesday that the two are in talks to establish a comprehensive partnership for joint operations especially on routes within Asia. To initiate the discussion, Kim Chil-bong, CEO of SM Line, visited the headquarters of Cosco Shipping Lines, the third-largest shipping company in the world, in Shanghai last week.
One reason SM Line partnered with Cosco may be because the Chinese company and Hanjin Shipping were in the same global alliance before Hanjin was wiped out. Container lines are bound by alliances to keep them competitive in terms of freight rates and port services. Both Hanjin Shipping and Cosco Shipping Lines had been part of the CKYHE Alliance, which no longer exists as all global alliances were realigned last year.
According to SM Line, Kim met with Wang Haimin, managing director of Cosco Shipping Lines, on the first day of his visit on March 15 and with Huang Xiaowen, executive vice president of China Cosco Shipping Corporation, on the next day to discuss detailed issues to enhance collaboration between the two companies.
Still, some barriers are expected due to disparities in the size of the companies operations. While SM Line is expected to handle roughly 400,000 twenty-foot equivalent units of cargo this year on intra-Asia routes, Cosco is expected to handle 5.7 million.
SM Line has also been eyeing a partnership with Hyundai Merchant Marine, currently Korea’s largest container shipper. However, Hyundai denied speculation of a potential partnership between the two companies.Posted On:22-Mar-2018
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West Africa Under Pressure
Suezmax rates in West Africa have come under pressure recently, with TD20 last assessed at WS 52.5, about 9% lower than the year-to-date average. Rates made considerable gains towards the WS 70 level at the start of the month in concert with a tightening of the regional position list, which fell to the lowest level since the beginning of the year.
In general, Suezmax demand out of West Africa has been quite strong this year with a 31% rise in spot market activity year-on-year, according to our commercial fixture database. We note considerable growth in volumes bound for Asian refiners amid reduced Middle East crude supply.
Growth has also been observed to North America amid a significant rise in the pull from EC Canada, which was relatively non-existent over the same period of 2017. Regarding rates in the short-term, we expect pressure through the end of March and spilling into April amid peaking refinery maintenance in Europe; however, demand support will likely rise as maintenance tempers. Rates to the East are likely to see support stemming from a recent narrowing of the Brent/Dubai structure, which, in our view, incentivizes refiners in the East to source these barrels. However, we must note that short-term rates fluctuations are largely going to be driven from the supply side of the situation as vessel supply within the region contracts/expands. In general, rates will remain depressed compared to 2017 levels on the basis of a global oversupply of tonnage with TD20 averaging below WS 70 through June.Posted On:22-Mar-2018
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Dredger capsized, 12 missing, Malacca Strait
Malaysian maritime authorities MMEA were alerted at 0850 LT Mar 21, report said hopper dredger JBB RONG CHANG 8 capsized off Parit Jawa, Johor State, Malaysia, Malacca Strait. 2 crew said to be rescued, 12 are missing, most probably trapped inside capsized dredger. SAR is under way. Dredger was en route from Singapore to Telok Ramonia, Malaysia, sailing in western direction. Photos MMEA.Posted On:22-Mar-2018
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Dorian LPG Agrees Sale and Leaseback for Corvette
Owner and operator of modern very large gas carriers Dorian LPG has entered into a sale and bareboat charter arrangement for its 84,000 cbm carrier Corvette. The company s third Japanese financing deal was completed on similar terms as the two prior Japanese financing transactions.
The arrangement, amounting to USD 70 million, resulted in net cash proceeds of USD 56 million, USD 33.7 million of which was used to repay a portion of Dorian LPG s 2015 debt facility.Posted On:22-Mar-2018
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What Will Be THE Marine Fuel of the Future?
The International Maritime Organization (IMO) is standing its ground on the implementation of the 2020 Sulfur Cap having reaffirmed its position that there is no turning back with regard to the implementation date.
Nevertheless, ship owners and operators are faced with a number of worries when it comes to adhering to the new rules and investing in compliant technology. In fact, many companies are adopting the "wait and see" approach. World Maritime News spoke with Dr. Marc Perrin, Independent Consultant for ENGIE Lab CRIGEN and Olivier Jouny, Managing Director, Total Marine Fuels Global Solutions, during Asia Pacific Maritime on the current state of play in relation to the industry’s preparedness for the new rules and the most economically viable option when picking a compliant fuel.Posted On:22-Mar-2018
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STX Labor Union to Protest against Self-Rescue Plan
The labor union of South Korea s financially troubled shipbuilder STX Offshore & Shipbuilding is to stage a partial strike protesting against the company s self-rescue plan. According to Korean media reports, the union would organize the strike action this week to express its disagreement with the self-rescue plan as it does not guarantee workers jobs. The union would launch a partial strike action on Thursday and Friday, while a full strike is scheduled to take place from March 26 if the shipbuilder does not respond to demands.Posted On:22-Mar-2018
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Mein Schiff 2 Remains in TUI Cruises Fleet
German cruise line TUI Cruises revealed that Mein Schiff 2 will remain part of the company s fleet. As explained, the cruise line s second cruise ship will continue to sail for TUI Cruises under another name and will not, as originally planned, be transferred to Marella Cruises. The British Marella Cruises, part of TUI UK & Ireland, will acquire Golden Era instead of Mein Schiff 2, according to the company.Posted On:22-Mar-2018
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Maritime Industry to Increase Contribution to GDP Soon - Peterside
The director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has given reassurance that the agency will not rest on its oars until it realises its dream of building a robust maritime sector that will substantially contribute to the Gross Domestic Product (GDP) of the nation s economy. The director-general of the agency also stated that the nation s maritime sector has the capacity to catalyze economic growth.Posted On:22-Mar-2018
Credits: allafrica.com |
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Strategies to Combat Maritime Asset Corrosion
Strategies to Combat Maritime Asset Corrosion The Maritime Executive (blog)Full coveragePosted On:22-Mar-2018
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IMO Video Explains Global Technology Initiative
IMO Video Explains Global Technology Initiative The Maritime ExecutiveFull coveragePosted On:22-Mar-2018
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