Home / Author Archives: hellenicshippingnews...

Author Archives: hellenicshippingnews...

NYK to Invest in theDOCK’s Navigator II Fund

NYK has signed an agreement to invest in “Navigator II,” an investment fund managed by theDOCK, an Israeli venture capital firm specializing in maritime technology. Navigator II invests in and supports startup companies that research and develop innovative technologies in the fields of shipping, ports, and supply chains. Through Navigator II, NYK will promote open innovation with startup companies by identifying new technologies and ideas that will strengthen existing businesses and create new businesses. In the past, NYK has directly invested in startup companies having innovative technologies in the fields ...

Read More »

Ocean Yield Reports First Quarter Results

Ocean Yield AS announces results for the first quarter 2022. Highlights EBITDA for Q1 2022 was USD 41.1 million and EBITDA adjusted for finance lease effects was USD 68.4 million. Net profit for the period Q1 2022 was USD 22.1 million and adjusted net profit for Q1 2022 was USD 21.4 million. The sale of the vessels Navig8 Pride and Navig8 Providence was completed during the first quarter. Post quarter end, delivery of one newbuilding Suezmax tanker with long-term charter. Continuing to expand the organisation with the recruitment of new ...

Read More »

ZESTAs is proud to announce strategic collaboration with Ince

ZESTAs is proud to announce its strategic collaboration with Ince, a full-service law firm with one of the most respected and longstanding shipping practices internationally. The global drive to reduce emissions has meant that the maritime sector is under increasing legal and regulatory scrutiny. With Ince on board, ZESTAs has a world-leading partner to assist members in navigating an increasingly complex regulatory playing field and ensure meaningful compliance. Ince is helping ZESTAs and its members navigate a pathway to meaningful compliance assuring that: (i) the true spirit of the regulations ...

Read More »

J-ENG to exhibit at Posidonia 2022

Japan Engine Corporation (J-ENG) will exhibit at “Posidonia 2022” , an international maritime exhibition held in Athens, Greece, from June 6th to 10th 2022. J-ENG will present not only the latest environmentally-friendly engine models such as UEC-LSH having an ultra-low fuel consumption and UEC-LSJ adopting the stratified water injection system, but also preventive and efficient maintenance management using digital transformation technologies in the exhibition. Furthermore, the world-leading ammonia-fueled and hydrogen-fueled engine, which J-ENG is developing to achieve carbon neutrality in 2050, will be introduced. This April many customers visited J-ENG’s ...

Read More »

Asia expansion for MYCRANE as franchisee invests in Singapore, Thailand and Indonesia

MYCRANE, the Dubai-based digital disruptor for the cranes and construction sector, is to roll out the world’s first online crane rental platform in three key Asia-Pacific (APAC) markets, following the signing of a franchise agreement covering Singapore, Thailand and Indonesia. MYCRANE’s best-known tool is its free-to-use crane rental service, which allows users to save valuable time and money by entering details of their lifting requirements on a carefully-designed web portal. Registered crane rental companies then respond with their commercial offer, allowing users to select the most attractive proposal and award ...

Read More »

Publication of the MCA Business Plan unveils agency’s focus for next 12 months

Passenger and fishing safety, new technologies and a greener future are the top priorities for the Maritime and Coastguard Agency (MCA) for the coming year. Reducing the numbers of deaths in the fishing industry, keeping people safe on-board ships, and continuing to drive forward greener maritime are all featured in the MCA Business Plan for 2022/23. The Agency continues to focus on maritime safety, pledging to improve how it responds to search and rescue incidents, promising to prioritise safety inspections on domestic passenger ships and fishing vessels. Fishing safety remains ...

Read More »

Romania Laden Container Turnover Q1 2022

Rating is based on the data for laden container turnover, without transshipment. MSC secured first place by laden container volume gaining (+) 2,43 p.p. in Q1 2022 vs Q1 2021 resulting in a 21,49% share of the Romania laden container turnover. Although MAERSK moved two positions down to the 4th place in Q1 2022 it still gained (+) 1,48 p.p. resulting in 15,77% in Q1 2022 volume. In total 2M Alliance controls 37,26% of Constanta laden container turnover in Q1 2022 against 33,35% in Q1 2021. COSCO and CMA CGM ...

Read More »

Oman’s second iron ore pelletising project to come up in Sohar Port

Finnish mining and metallurgical industries specialist Metso Outotec has announced that it has been awarded a contract for the supply of key machinery for a new iron ore pelletising project planned for development at Sohar Port and Freezone. The Helsinki-headquartered machinery manufacturer, which is also a leading global supplier of grate kiln-type pelletising plants, said it has won a contract worth around EUR 33 million (approx. $31 million) for the manufacture and installation of a 6 million tonnes per annum (mtpa) pelletising plant at the industrial port. The client has ...

Read More »

EU scrap metal export curbs would be backwards step in global decarbonization: BIR

Scrap metal export controls out of the European Union would be a step backwards in the global decarbonization drive and could also result in lower scrap arisings within the European region, speakers at the International Bureau of Recycling, or BIR, convention in Barcelona said May 23. This could fly in the face of the aim of the current revision to the European Commission’s Waste Shipments Regulation, which sets out to boost the competitiveness of scrap supplies to EU industry to facilitate decarbonization, the convention heard. “Export controls would be the ...

Read More »

Europe’s aluminum output slides as energy crunch bites

Europe’s primary aluminum smelters are continuing to curtail production in the face of soaring energy costs. The region’s output of the light metal has fallen by an annualized 550,000 tonnes over the last year with the slide still accelerating. Aluminum smelting is an energy-intensive business and Europe’s smelters were struggling with elevated power pricing even before Russia launched what it calls a “special military operation” in Ukraine. That has exacerbated Europe’s energy crunch with forward power prices regularly hitting fresh highs. The cost on Europe’s aluminum smelters is rising all ...

Read More »

Pakistan’s coal crisis prompts industries to shut plants, reduce capacities

Several non-power sectors in Pakistan, including cement and steel plants, are either operating at significantly reduced capacities or shutting down plants on a temporary basis as imported coal prices remain elevated amid bleak domestic output, market sources told S&P Global Commodity Insights. Besides, power plants have also been running at lower capacities due to short coal supply and higher prices across all other alternative markets. Pakistan, which imports nearly 70% of its thermal coal from South Africa, has not been able to do so in the last few months as ...

Read More »

Avoid a potential misread on U.S. planting pace in delayed states -Braun

U.S. corn planting is running at the second-slowest pace in more than a quarter-century and spring wheat planting is the slowest on record, and the full acreage potential has rightfully come into question. Excessively wet and cool weather has plagued the northern U.S. Plains this spring, putting farmers in North Dakota, northern Minnesota and parts of South Dakota far behind schedule. Final planting dates for crop insurance are rapidly approaching, and the current pace suggests some of these acres will go unplanted this year. However, it is important to understand ...

Read More »

Rising supply of nickel intermediary products could ease tightness

China’s imports of MHP (mixed hydroxide precipitate) and matte hit a fresh record in April after the speed-up of NPI-to-matte conversion and the ramp-up of MHP projects from Indonesia, both suitable for making sulphate to meet the demand from the battery industry. During the first four months of 2022, total MHP imports into China have almost doubled from the same period of last year. Meanwhile, imports of matte jumped by 56% year-on-year, with March and April seeing the strongest volumes. However, as the supply of feed sources for making sulphate ...

Read More »

Industrial metals fall on global growth concerns

Industrial metals were mostly lower on Wednesday on global growth concerns, but losses in copper were capped following reports about “progress” being made to resolve an issue that has led to the suspension of operations at a mine in Peru. Three-month copper on the London Metal Exchange CMCU3 was down 0.3% at $9,429 a tonne, as of 0630 GMT. The most-traded July copper contract on the Shanghai Futures Exchange SCFcv1 fell 0.6% to 71,340 yuan ($10,695.65) a tonne. “Negativity returned to risk markets as economic data reinforced growth concerns,” ANZ ...

Read More »

EU, United States pushing for global fuel production increase – Scholz

The European Union and United States are trying to convince oil and gas-producing countries to increase their production to help lower global fuel prices, German Chancellor Olaf Scholz said in an interview with Deutsche Welle. “It is necessary that we start to increase the supply with gas, with fuel, with all the things to make it feasible for the countries to pay for their bill,” Scholz was quoted as saying, asked about an U.S.-EU initiative mentioned by his economy minister. “We are now discussing with all these countries that are ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping