|.: 26-Jul-2018 :.
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NYK Line Downgrades Profit Forecast
Japanese shipping company NYK Line has lowered its forecast for the interim and full year consolidated financial results.
Based on the previous forecast for the interim results covering April-September 2018 period, NYK Line said its anticipated revenue was JPY 905 billion and a profit of JPY 8 billion (around USD 72 million). However, these figures have been cut to JPY 890 billion worth revenues and a profit of JPY 3 billion, down by 62.5 percent.
Korean fishing vessels collision off Japan, 1 ship sank, 3 crew missing
Two Korean fishing vessels, longliners, identified (but not yet confirmed) as 101 KUMYANG and NO.803 TONGYOUNG, collided in the morning Jul 26 some 270 nm southeast of southeastern tip of Hokkaido, Japan. 101 KUMYANG sank. Of 38 crew on board, including 7 Koreans, 18 Indonesians, 7 Vietnamese and 6 Filipino, 35 were rescued, 3 went missing. SAR under Japan Coast Guard command under way.
Safe Bulkers Secures New Loan Refinancing Deals
Dry bulk shipping company Safe Bulkers has reached refinancing agreements related to two of its credit facilities. The company has agreed to amend an existing credit facility of USD 160.5 million expiring in 2022, secured by 11 vessels, with a new credit facility of USD 142 million secured by 10 vessels. The new deal extends the tenor by two years and pushes back part of the balloon payment to 2024.
Maersk Tankers Rotor Sail Project Delayed
The installation of wind-powered sails on board Maersk Tankers Long Range 2 (LR2) product tanker has been slightly pushed back, the company confirmed to World Maritime News.
The original plan was to install two Norsepower Rotor Sails, featuring 30 meters in height and 5 meters in diameter, in the first half of 2018 in cooperation with Norsepower Oy Ltd, the Energy Technologies Institute (ETI), and Shell Shipping & Maritime.
COSCO Shipping Lines Falls Victim to Cyber Attack
COSCO Shipping Lines confirmed that it has been hit by a cyber attack impacting its internet connection within its offices in America.
As such, local email and network telephone were not working properly and the company decided to shut down the connections with other regions for further investigation. Based on the information released so far, the incident that took place on Tuesday, July 24, was described as a ransomware attack.
169 Ships Sold to South Asian Beaches
From a total of 220 ships, which were scrapped in the second quarter of 2018, 169 vessels were sent to the beaches of South Asia for breaking, NGO Shipbreaking Platform said in its report.
In the second quarter of 2018, American ship owners sold the most ships to the South Asian yards with 26 vessels beached, followed by Greek and UAE owners. The Platform said that the American company Tidewater "was the worst corporate dumper with fifteen vessels beached."
Scrubbers Winning Owners Hearts ahead of 2020 Sulphur Cap
The countdown has begun for the entrance into force of the 2020 global sulphur cap and the shipping industry has less than a year and a half to become compliant.
There are three main solutions to choose from: installing a scrubber, running your ships on marine gas oil (MGO) or switching to liquefied natural gas (LNG). World Maritime News spoke with Jan Othman and Sigurd Jenssen, directors of exhaust gas cleaning at Finish technology group Wartsila about the uptake of the technology and its key benefits.
Another Tanker Attacked by Houthis
A Saudi oil tanker has reportedly been attacked by the Houthi movement while underway in the Red Sea, Reuters reports citing Saudi state television.
Based on the report, the tanker has sustained minor damage in the attack that occurred on Wednesday, July 25. The name of the vessel is yet to be identified. There have been no reports on potential injuries to the crew of the vessel.
Pact signed to develop dry-port in Khazaen
Asyad Group subsidiary Marafi has signed a Memorandum of Understanding (MoU) to work together with Khazaen Economic City (KEC) to develop and operate dry-port facilities in Khazaen.
KEC, envisioned as an international logistics hub, is spread over a total area of 51 million sq.m. in South Al Batinah Governorate and will have a dry-port along with logistics, industrial, commercial, and residential zones.
State Company "Yuzhny Commercial Sea Port" handled 500 mt of cargo for 40 years
State Company "Yuzhny Commercial Sea Port" accepted about 24 000 of vessels and handled 3,4 m of rail cars within the period of 1978 - 2018. The total cargo turnover is 502,8 mt since the first vessel was moored. It is the best result in the port industry of Ukraine.
In the first half of 1978 the cargo turnover of the state company was 140 000, while since the beginning of 2018 the company has handled 6,1 mt of cargo. The company has much to be proud of: the state company handles over 12 mt of cargo every year. The port was built and developed to handle cargo for mining and metallurgical industry.
DP World to Build and Operate New Logistics Hub in Mali
Global trade enabler DP World has signed a 20- year concession with an automatic 20-year extension with the Republic of Mali to build and operate a 1000-hectare modern logistics hub outside of Bamako, the capital and largest city of Mali. The multimodal logistics platform, Mali Logistics Hub (MLH), will have inland container depots (ICD) and Container Freight Stations (CFS) that will facilitate the import and export of goods.