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Milaha s Net Profit Up in Q1 2018
Qatar Navigation (Milaha) has booked a net profit of QAR 260 million (USD 71.4 million) in the first quarter of 2018, up from QAR 236 million posted in the same quarter last year.
The company s operating revenues were up year-on-year as well standing at QAR 698 million in the first quarter of this year against last year s equivalent of QAR 648 million. The increase was driven mainly by the company s maritime and logistics business amid better operating margins in the container shipping market and growth marked by the company s ports business. These developments boosted the business arm s net profit by QAR 29 million.Posted On:30-Apr-2018
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Diana Shipping Agrees Higher Charter Rate for Panamax Bulker
Greek dry bulk ship owner Diana Shipping has entered into a time charter contract with Uniper Global Commodities for one of its Ice Class Panamax dry bulk vessels. Under the agreement, the company s 77,529 dwt vessel Atalandi was hired at a gross charter rate of USD 13,500 per day for a period of fourteen to seventeen months.Posted On:30-Apr-2018
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Over-Ordering Deja Vu: 24 VLCC Ordered So Far This Year
Robust interest in newbuilding tonnage is putting a major strain on the tanker market recovery as owners continue last year s ordering spree that resulted in 57 very large crude carriers being ordered. A total of 24 VLCCs have been ordered so far this year, Gibson Shipbrokers said in its weekly report, adding that there are indications that there would be more to follow suit. The trend is worrying, as VLCCs have the largest orderbook of all tanker size groups, at 16 pct relative to its existing fleet.Posted On:30-Apr-2018
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MUA Pushes for Tougher Regulation in Live Sheep Trade
The Maritime Union of Australia (MUA) has called for stronger regulation to end animal cruelty after barbaric practices in the live sheep trade were exposed by 60 Minutes. The MUA urged Australia s Federal Government to temporarily ban the live export of sheep until such time as they convene a meeting with farmers, livestock industry, logistics companies, unions and animal welfare groups to determine if there is a solution that involves humane treatment and transport of animals involved.Posted On:30-Apr-2018
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K Line Returns to Profit
Japanese shipping major K Line delivered a net profit of JPY 10.4 billion for the fiscal year ended March 31, 2018, compared to a net loss of JPY 139.4 billion seen a year earlier.
The company s operating revenues for the period were at JPY 1.16 trillion, up from JPY 1.03 trillion reported a year earlier. In the shipping industry, cargo movements in the East-West services remained firm throughout the year in the containership business and freight rated remained on a recovery track, "but the supply-demand balance did not improve in earnest," according to K Line.Posted On:30-Apr-2018
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Iranian freighter collided with two other freighters at Astrakhan Russia
Iranian general cargo ship PARS KHAZAR 2 started to drifti collided with two general cargo ships in Astrakhan port, Volga river, Russia, Caspian sea, reportedly in the afternoon Apr 28. First, PARS KHAZAR 2 struck anchored Russian freighter BALTIYSKIY-40, which has been broken off her anchorage. After that, PARS KHAZAR 2 struck another Iranian freighter, NARDIS. General cargo ship PARS KHAZAR 2 sustained a breach 1×1.5 meter in ballast tank No. 6 area.Posted On:30-Apr-2018
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ABS Informs Industry at Singapore Maritime Week
ABS executives informed the industry conversation at Singapore Maritime Week, with presentations on the growing cyber security threat to maritime, new opportunities to take advantage of data and the huge potential of LNG shipping for the region.
Speaking at the Singapore Maritime Cyber Security Seminar, ABS Chief Digital Officer, Howard Fireman highlighted the opportunities and challenges presented by the ever-increasing connectivity of maritime assets. "The cyber threat is real to maritime safety, making it a relevant issue that ABS must address. At the same time regulatory and industry drivers are accelerating the pace at which cyber risks must be considered," Fireman explained, before going on to detail ABS industry-leading response.Posted On:30-Apr-2018
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Competition Increases in Maritime Battery Technology
There are geographic locations where fuel oil prices are high and electric power prices comparatively low. Such locations enhance the business case to operate electric propulsion along inland waterways and coastal services. New battery technologies include carbon-foam sulfuric acid technology, sodium sulfate electrolyte technology and silicon dioxide batteries.Posted On:30-Apr-2018
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Italian port workers to strike over self-handling
Italian port workers to strike over self-handling Splash 247Full coveragePosted On:30-Apr-2018
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Virginia s ports continue to lead US in surging coal exports
Virginia s Hampton Roads region continues to export the most amount of coal from the U.S. through its ports. And the numbers continue to soar. The Virginian-Pilot reported Thursday that the region s coal exports have jumped 16 percent this year compared to first-quarter 2017.
The U.S. Energy Department said in February that coal consumption has decreased domestically. But higher demand in Asia and Europe has led to greater coal production in the United States and therefore more exports.Posted On:30-Apr-2018
Credits: www.bunkerportsnews.com |
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Energy transition in the port of Antwerp: new impetus for LNG as an alternative fuel for ships
Fluxys has taken over the concession in the port of Antwerp at quay 526-528 to make liquefied natural gas (LNG) available as an alternative fuel for ships and barges, in one of the Port Authority’s key initiatives to make the port’s activities more sustainable. Fluxys will add a permanent LNG bunkering facility by the end of next year to complement the existing mobile (truck-to-ship) bunkering service.
LNG lowers emissions immediately and dramatically For ships and heavy duty trucks LNG is the ideal alternative in the transition to lower greenhouse gas emissions and better air quality. Switching to LNG immediately cuts emissions of sulphur and particulate matter to negligible levels, while emissions of nitrogen oxides are dramatically reduced and carbon emissions significantly lowered.Posted On:30-Apr-2018
Credits: www.bunkerportsnews.com |
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