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Petronas’ 2nd LNG vessel sails for Malaysia from South Korea

Petroliam Nasional Bhd’s (Petronas) second floating liquefied natural gas (LNG) vessel (PFLNG Dua) has set sail to Rotan Gas Field, 140km offshore Kota Kinabalu, Sabah, from South Korea. The PFLNG Dua is expected to complete its journey, covering 1,840 nautical miles (3407.68km), in approximately two weeks. Its executive VP and CEO of gas and new energy Adnan Zainal Abidin said Petronas continues to demonstrate its commitment as a progressive energy and solutions partner by sustainably building its business portfolio with the PFLNG Dua. “With its ability to reach remote deep-water ...

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Vado Gateway terminal commences operations

The new Vado Gateway terminal, located in Vado Ligure, Italy, received its first commercial service on 11 February 2020. The ship, M/V Maersk Kotka, was the first of seven ships from Maersk’s weekly ME2 service, connecting the Mediterranean with the Middle East and India. The call by M/V Maersk Kotka marked the start of operations for the new deep-sea Vado Gateway container terminal. With a total investment of 450 million euros, it is one the most important port infrastructures to be built in Italy in recent decades. Managed by APM ...

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Maersk warns coronavirus outbreak to hit 2020 earnings

Shipping giant Maersk (MAERSKb.CO) warned on Thursday that the coronavirus outbreak would weigh on earnings this year, compounding the woes of a container shipping industry already subdued by trade wars and an economic slowdown. Maersk, which reported a lower-than-expected fourth-quarter profit on Thursday, forecasted a weak start to the year because factories in China were closed for longer than usual after the Chinese New Year holiday. “Weekly container vessel calls at key Chinese ports were significantly down compared to last year during the last weeks of January and the first ...

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MABUX: Bunker market this morning, Feb.21

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) rose slightly on Feb.20: 380 HSFO – USD/MT 367.67(+3.06) VLSFO – USD/MT 538.00(+5.00) MGO – USD/MT 600.24(+5.50) Meantime, world oil indexes rose slightly on Feb.20 after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China. Brent for April settlement increased by $0.19 to $59.31 a barrel on the London-based ICE Futures Europe exchange. ...

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DNV GL and MSC Software partnership enables engineers to design ships and offshore structures more efficiently

DNV GL, a leading provider of digital solutions for managing risk, improving safety and asset performance, and MSC Software Corporation (MSC), a global leader in Computer-Aided Engineering (CAE) simulation software and services, have today announced a strategic partnership to improve the productivity of engineers using DNV GL’s Sesam design and simulation software for maritime and offshore engineering. MSC and DNV GL have partnered to connect Sesam workflows with MSC Apex so that Sesam users can streamline common tasks and become more productive. Under the partnership, DNV GL will resell MSC ...

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Excelerate Energy Given Greenlight for Ship Management of its Fleet

The Republic of the Marshall Islands and the Government of Belgium have awarded Interim Documents of Compliance (DoC) under the International Safety Management (ISM) Code to Excelerate Technical Management (ETM), a wholly-owned subsidiary of Excelerate Energy L.P. (Excelerate). The ISM DoC authorizes ETM to operate as ship manager for Excelerate’s entire fleet of floating storage and regasification units (FSRUs). The Interim DoC is the result of an audit of ETM’s safety management system, confirming compliance with ISM standards which ensure the safe operation of its crew and vessels. “Excelerate has ...

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Cyprus Shipping Chamber backs EU Green Deal

Cyprus shipping supports the Industry’s positions on the EU Green Deal and is fully committed to eradicating its greenhouse gas (GHG) emissions as soon as possible. On the occasion of European Shipping Week, the European Community Shipowners Associations (ECSA), launched its positions in response to the EU Green Deal proposed by the new European Commission. The Cyprus Shipping Chamber (CSC) said it was involved in the development of these positions and “fully supports them”. “European Shipping welcomes and supports the EU’s ambition to take the lead in fighting climate change,” ...

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Hamburg Süd expands business in Italy, Spain, and Egypt

Hamburg Süd is now exclusively represented by its own offices in Italy and Spain after business was previously partially handled by agents and joint-venture organizations. Furthermore, in Egypt the company has taken full management of Hamburg Süd Egypt recently. “We are thereby investing in the Mediterranean markets that have traditionally been of strategic importance to Hamburg Süd,” says Poul Hestbaek, General Manager of Hamburg Süd’s Region Europe. “By having owned organizations, we will now be able to offer shippers in these countries Hamburg Süd’s typical customer proximity as well as ...

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KVH to Support Mariners’ Wellbeing with Free VoIP Calls to ISWAN’s SeafarerHelp Hotline

KVH is pleased to announce that seafarers on vessels with KVH VSAT service may place free VoIP calls to ISWAN’s SeafarerHelp hotline while at sea. SeafarerHelp is an important initiative by the International Seafarers’ Welfare and Assistance Network (ISWAN) to support mental wellbeing for seafarers around the world. The hotline is confidential, multilingual, and available 24 hours per day, 365 days per year. “We are thrilled that KVH is supporting this initiative so that seafarers can get the help they need when they need it,” says Roger Harris, executive director ...

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Premium Increases as P&I Clubs React to Deteriorating Results

Amid strong competition and challenging commercial conditions, pricing remains under pressure ahead of the February 20, 2020 deadline for ship-owners’ marine protection and indemnity (P&I) renewal. However, following three years when no increases were the norm, a large majority of P&I clubs have announced general increases for the 2020 renewal. This change in approach comes after most of them reported poor results for the year ending February 2019. AM Best notes in its new Best’s Market Segment Report, “Premium Increases as P&I Clubs React to Deteriorating Results”, that the level ...

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North P&I Club Breaks the 230M GT Barrier in 160th Anniversary Year

Following the conclusion of the 2020 renewal, early projections suggest that North P&I Club increased its total entered tonnage to over 230 million gross tonnes, further strengthening its position as a leading member of the International Group of P&I Clubs. North, celebrating the 160th anniversary of its foundation in Newcastle upon Tyne, also saw owned P&I tonnage reach 160 million GT. Paul Jennings, North’s Chief Executive, said “Our 2020 renewal strategy focussed on the need to build the Club’s financial strength and stability in a climate of rising International Group ...

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LNG Carrier Contracts Expected to be Signed

French oil major Total recently signed letters of intent with Hyundai Heavy Industries and Samsung Heavy Industries with regard to eight 170,000-cubic-meter LNG carriers for the Anadarko LNG project in Mozambique. Orders are expected to be placed once Total completes shipowner selection in March. The total shipbuilding cost of the project is estimated at 3.4 trillion won. In addition, Samsung Heavy Industries is expected to build icebreaking LNG carriers for the second phase of the Yamal LNG development project in Russia. The Russian government recently accepted the request of Novatech, ...

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Progress 2019: Lead change in the ship recycling industry

The journey to transform ship recycling continues with investments in yards as we recycle vessels in Alang, India, and providing support in the wider Alang community to improve healthcare. We also support a multi-stakeholder partnership to increase transparency. Ambition To radically change the global ship recycling industry to be dominated by responsible practices to the benefit of workers and the environment as well as responsible yards and shipowners. Targets 2019 and 2020: Continue to invest and work with selected yards in Alang. Develop the wider Alang area. Drive and actively ...

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GTT pursues its development in digital with the acquisition of Icelandic company Marorka, an expert in Smart Shipping

GTT announces the acquisition of 100% of the share capital of Marorka from its owners and management team. Based in Iceland and specialized in Smart Shipping1, the company designs maritime energy monitoring and optimization systems for vessels, allowing them to reduce their environmental footprint. The company’s systems have been installed on more than 600 vessels. The shipping industry has started its environmental transition in January 2020, when a new IMO2 regulation entered into force, imposing significant reductions in sulphur oxide emissions. The IMO has furthermore announced a long-term “low-carbon” strategy, ...

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Singapore fuel oil inventories hit 9-month high as demand ebbs

Singapore’s residual fuel oil inventories jumped 10% to their highest in more than nine months, in the week ended Feb. 19, despite plummeting net import volumes, in the latest sign of sluggish bunker demand in the city-state, official data showed. – Onshore fuel oil stocks jumped by 2.169 million barrels (about 342,000 tonnes) to 24.231 million barrels, or 3.816 million tonnes from the previous week, data from Enterprise Singapore showed. – This came despite net import volumes falling to a nearly five-month low of 364,000 tonnes, down 54% from the ...

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