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International Shipping News

Indian Register of Shipping (IRClass) receives authorisation as Recognised Organisation (RO) from Malta, opens office

In yet another demonstration of its growing global recognition, Indian Register of Shipping (IRClass), a leading classification society, has received authorisation as a Recognised Organisation (RO) from Merchant Shipping Directorate of Transport, Malta. Malta is the sixth largest flag in the world and largest in Europe with a tonnage of 72.1 Million GT. This year, IRClass has earned a spate of authorisations from various flags worldwide, including US Coast Guard, Latvia, Antigua & Barbuda, Thailand and Bangladesh. Moreover, IRClass has set up its offices in Malta & Istanbul. With offices ...

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Sudan seeks to revive maritime fleet, increase main port efficiency

Sudan is seeking to revive its maritime fleet and increase efficiency of Port Sudan harbor with lifting of U.S. economic sanctions, as international trade movement across the country’s main sea gate is expected to increase. During the past two days, Sudan’s Sea Ports Corporation (SPC) inaugurated a number of projects to enhance the efficiency of Port Sudan harbor and to assimilate the movement of international trade. The projects include transit trade with neighboring countries such as Ethiopia, Chad, Central Africa and South Sudan, which signed previous agreements with Sudan on ...

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APL offers extensive and reliable feeder network in Europe

With APL, your business has access to more markets in Europe than ever. In 2017 alone, APL has expanded our feeder network to include more destinations: 1. Klaipeda, Lithuania 2. Riga, Latvia 3. Leixoes and Lisbon, Portugal 4. Durres, Albania 5. Thessaloniki, Greece 6. Poti, Georgia 7. Novorossiysk, Russia Black Sea 8. Seacargo Complex Bronka terminal in St Petersburg, Russia These markets are served by reliable weekly feeder services to gateways in Europe, which in turn are connected to the rest of the world via APL’s Asia-Europe and Trans-Atlantic services. ...

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Since start of buying spree, Chelsea Logistics fleet hits 5

Chelsea Logistics Holdings Corp., a firm led by Davao businessman Dennis Uy, said it acquired a total of five vessels since July this year as part of its expansion plans after its initial public offering. The company said the vessel acquisitions will increase capacity by 10 percent and should start to contribute to earnings as early as the last quarter of 2017. “The newly acquired vessels will bring us another step closer to fulfilling our commitment to growth in order to realize more value for our stakeholders, from the investors ...

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Nordic American Tankers Limited (NYSE:NAT) is launching a Recapitalization Program with NAT Equity Offering as one component

Nordic American Tankers Limited (the “Company”) has previously announced the NAT recapitalization program where the equity offering is one component. The pricing of the equity offering itself took place today according to the Company’s effective shelf registration statement. Following demand for shares the transaction has been upsized to $110 million. The Company agreed to sell 40 million common shares at a public offering price of $2.75 per share. At the Company’s request, the underwriters have reserved for sale an aggregate of approximately 450,000 common shares for certain members of the ...

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Jamaica Elected To IMO Council

Jamaica has re-established its position at the heart of international maritime rule-making following its election to the International Maritime Organization’s (IMO) Council on December 1 during the IMO 30th General Assembly meeting. Jamaica was elected Category C Council member and will serve for the 2018-2019 biennium. Speaking at the IMO’s 30th Assembly meeting in London, Transport Minister Mike Henry said: “As a seafarer supply country, the Government is committed to the training, as well as the right of seafarers to decent living and working conditions, and in keeping with our ...

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SEACOR Holdings Inc. Announces Sale and Lease of SEA-Vista Tanker

SEACOR Holdings Inc. (“SEACOR”) (NYSE:CKH) yesterday announced that its SEA-Vista subsidiary has reached an agreement to sell one of its ECO-Class tankers for approximately $135 million. In conjunction with the sale, SEA-Vista will lease the vessel from the purchaser and simultaneously bareboat the vessel to an oil major for the duration of the lease. The transaction is expected to close before year end. Sale proceeds will be used to pay down SEA-Vista’s outstanding term loans and revolver, after which SEA-Vista will have approximately $130 million of debt outstanding. SEA-Vista’s debt ...

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IRISL Celebrates 50 years of Existence

The Chairman and CEO of Islamic Republic of Iran Shipping Line IRISL stated: we hope that by consultation and sharing thoughts, we can build 50 even more glorious years. In the ceremony to honor the 50th anniversary of IRISL foundation, Dr. Mohammad Saeedi, the Chairman and CEO of IRISL extended his welcome to the foreign and domestic guests and expressed his hope that we can build the next 50 years even more gloriously, MANA correspondent reported. He further stated: during 50 years of activity, we have gained a lot of ...

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The Jones Act Costs All Americans Too Much

Puerto Rico’s post-hurricane plight has drawn attention to the Jones Act, the 1920 law that compels all maritime commerce between U.S. ports to be carried on ships built, owned and crewed by Americans. The law is adding to the island’s problems, and should be set aside for that reason alone — but the Jones Act was, or should have been, a scandal well before the hurricane hit. What Americans ought to ask is not whether the law should be waived in the long term for Puerto Rico to speed its ...

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Ethical Hacking

Cyber attacks are of increasing concern in a wide range of industries including the maritime, oil and gas, and energy sectors. Information warfare is gathering intensity, and sometimes the best defence is to subject your organization to a simulated attack. This insight is driving the recruitment and development of ethical hackers, sometimes referred to as ‘white hat hackers’ in an allusion to heroes who take on black-hatted bad guys in the movies. In cyberspace, the bad guys are all too real. Cyber attacks can lead to lost production; increased health, ...

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Icebreaking tankers have course for Russia’s new Arctic LNG plant, and they all carry foreign flags

There was great festivity in Sabetta as President Putin on Friday arrived on site to officially mark the first out-shipment of liquified natural gas from Novatek’s new major Arctic project. Along the ice-covered port area was lying the «Christophe de Margerie», the flagship in the fleet of new icebreaking carriers built to transport the liquified natural gas out through the Gulf of Ob and to the markets. However, little attention was paid to the second vessel in port. The «Boris Vilkitsky» was loading LNG at the same time as the ...

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Intelligence as a service: Digital solution of the year 2017

NAPA’s Fleet Intelligence service was only launched in June this year, and is already picking up awards. NAPA, the Finnish company now owned by Japanese class society Class NK, say Fleet Intelligence is the industry’s first web service that provides fleet owners with access to operational insights without the need for costly and laborious on-board installations. That unique position may not last for ever, as competitors are already offering similar web-based services, but NAPA is certainly one of the first to see the demand for such a service knowing that ...

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White paper: Between a rock, and a hard place – Catalytic Fines in fuel

For many years, we have heard that Catalytic Fines are responsible for many of the wear issues that often occur in engines. The question is, does it really have to be like this? Learn more in this white paper. Our white paper discusses the options currently available to better control the wear in engines and reduce the costs incurred by these tiny catalytic fines particles. In this white paper you will learn: -The impact of catalytic fines on bunker fuel quality and engines, and why it matters -Why relying on ...

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Dry Bulk FFA: Capesize Market Plateaus

Capesize FFA Commentary: An initital burst of optimism as the January contract was paid numerous times in the Asian session at 19500 – 19750. The physical market remains supported although activity was muted. The lack of physical information led to the front end of the curve retracing a little although volumes were thin. There was little conviction or interest as many traders start to draw a line under their positions for the year end. Will Dec 2017/Jan 2018 be reminiscent of Dec 2013/Jan 2014 where the Dec finished strongly only ...

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Gasoline tankers face delays, diversions as Europe’s exports slow

Gasoline tankers are taking longer than usual to discharge in Amsterdam and at least one was diverted from the northwest European port as exports from the trading hub slow. The STI Hammersmith and the STI Milwaukee each loaded gasoline cargoes in Spain last month to go to Amsterdam but had to wait by up to six days outside the port. “Six days is longer than average to berth, but it can be a lot worse,” one trading source said. The STI Fontvieille loaded a 35,000 tonne gasoline cargo for BP ...

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