The total orderbook for dry bulk, container and tanker ships has reached its lowest point in 17 years as Covid-19 has massively slowed contracting (-50%) while deliveries of new vessels have proved more resilient (-2%). The orderbooks for dry bulk and container ships in particular have fallen sharply. At 63.4m DWT, the dry bulk orderbook is at its lowest level since April 2004 and 34.7% smaller than twelve months ago. Similarly, the orderbook for container ships has fallen 10.3% in the past 12 months to its lowest level since September ...

Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the transportation of major and minor bulk commodities globally, today reported its financial results for the three months and six months ended June 30, 2020. The following financial review discusses the results for the three and six months ended June 30, 2020 and June 30, 2019. Second Quarter 2020 and Year-to-Date Highlights • Genco’s focus remains on the health and safety of our crew members and our team onshore during this uncertain ...

The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (“FSL Trust” or the “Trust”), announces that FSL-20, Inc., FSL-21, Inc. and FSL-22, Inc., wholly-owned subsidiaries of the Trust, have, in the ordinary course of business, executed memoranda of agreement to sell the containerships FSL Eminence, FSL Elixir andYM Enhancer (the “Containerships”) to unaffiliated third parties and have received the initial 10% deposit in escrow. The Containershipshave a capacity of 4,250 TEU each and were owned by FSL Trust ...

President Doumbia-Henry: “Distance learning is a useful modality which helps achieve UN’s Sustainable Development Goals” Robban Assafina has launched its new webinar “Maritime Distance Learning: Reality and Challenges”, the second of the magazine’s Middle East Maritime Online Forum webinar series, discussing Maritime Educational Academies and Institutes’ rapid shift towards digitation in response to the high risks and effects of the ongoing pandemic COVID-19 virus, as distance learning is becoming increasingly popular. Discussions The two and a half hour webinar shed the light on the importance of implementing distance learning education ...

The World Ocean Council (WOC) – the Global Blue Economy Business Organization – invites support for the charity crowdfunding campaign to raise funds for vulnerable fishing communities as the COVID-19 pandemic affects those with less secure financial and health resources. In Peru, small-scale fisheries play a critical role in food security, supplying approximately 95% of seafood consumed domestically. However, at the onset of the pandemic in villages like La Islilla, roads to the village are closed and business is on pause to help avoid the high death rate that has ...

Matson, Inc. (“Matson” or the “Company”) (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $32.8 million, or $0.76 per diluted share, for the quarter ended June 30, 2020. Net income for the quarter ended June 30, 2019 was $18.4 million, or $0.43 per diluted share. Consolidated revenue for the second quarter 2020 was $524.1 million compared with $557.9 million for the second quarter 2019. For the six months ended June 30, 2020, Matson reported net income of $36.6 million, or $0.85 per diluted share ...

Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers” or the “Company”) today reported its results for the three and six months ended June 30, 2020. The Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share on the Company’s common stock. Results for the three months ended June 30, 2020 and 2019 For the three months ended June 30, 2020, the Company had net income of $143.9 million, or $2.63 basic and $2.40 diluted earnings per share. For the three months ended June ...

Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today reported its non-audited financial results for the first semester and second quarter ended 30 June 2020. Hugo De Stoop, CEO of Euronav said: “Tanker markets continued to deliver strong earnings throughout Q2 and into the early part of the third quarter. Floating storage requirements dissipated sooner than expected, pivoting the tanker market to a transition phase ahead of our prior forecast. With our sector low leverage, supported by over USD 1 billion liquidity Euronav is very well positioned ...

In order to optimize the efficiency of our customers’ supply chain from Spain to Algeria with enhanced lead-time and coverage, CMA CGM is pleased to announce the launching of SPAINAF EXPRESS weekly service, a new service deployed under our EURONAF product as a 4th loop. SPAINAF EXPRESS service features are the following: • Weekly dedicated service • Best-in-class transit times from Spain to Alger in Central Algeria • Additional and unique coverage in Western Algeria with Arzew weekly and Mostaganem fortnightly calls • Operated with m/v “JANINA” (capacity: 677 TEU) ...

Ecochlor system with IMO BWM Code AnnouncementEcochlor is pleased to receive Type Approval from the Norwegian Maritime Authority (NMA) for the IMO BWMS Code (MEPC.300(72) / revised 2016 G8) standards. The new certification applies to the entire range of Ecochlor ballast water management systems (BWMS), with flow rates of between 500 m3/hr. and 16,200 m3/hr., meaning that vessel owners may continue to install Ecochlor’s BWMS after the IMO BWMS Code October 28, 2020 deadline. The Company completed the additional testing required for active substance technologies for full approval in marine, ...

Measures introduced to prevent the spread of COVID-19 have brought widespread disruption to normal crew change operations, with many seafarers prevented from disembarking or joining their vessels. GAC Norway’s General Manager Mikael Rodseth presents his team’s guide to the current status of crew changes in the country including: where they may be conducted; what restrictions are in place; what requirements must be met; and how many changes GAC Norway has handled to date. What challenges and restrictions do shipowners/operators face when arranging crew changes in Norway, and how have your ...

Belfast Maritime Consortium is the recent recipient of £33 million of UK Research and Innovation funding through the Strength in Places Fund to build zero emissions ferries. The transformative Artemis eFoiler, an electric hydrofoil propulsion system, is totally unique and enables vessels to operate with up to 90% less energy at high-speed, and produce zero emissions during operation. Led by Artemis Technologies, the Belfast Maritime Consortium is a 13-partner syndicate of businesses, academia and local government, that has invested £27m alongside government to deliver the net-zero project. This new membership ...

In the second quarter (1 April – 30 June) of the 2020 financial year, Tallink Grupp AS and its subsidiaries (the Group) carried 388 thousand passengers, which is 85.4% less than in the second quarter last year. The number of cargo units transported decreased by 12.8% in the same comparison. The Group’s unaudited consolidated revenue decreased by 74.6% or EUR 191.1 million to a total of EUR 65.0 million. Unaudited EBITDA was EUR 2.4 million (EUR 50.7 million in Q2 2019) and unaudited net loss was EUR 27.4 million (net ...

Alaska Marine Lines rail barge Four Alaska Marine Lines rail barges are getting new piping and ballast systems designed by marine industry leader Glosten with installation by Meridian Marine Industries. “The rail barges are hitting 20 years of service and were in need of some upgrades,” explains John Maketa, T-115 Port Engineer in Seattle. “These barges are the backbone of our rail operations and Central Alaska service. The updates will prepare them for another 20 years of service.” Two barges, the Anchorage Provider and Whittier Provider, already have the new ...

Ecochlor is pleased to receive Type Approval from the Norwegian Maritime Authority (NMA) for the IMO BWMS Code (MEPC.300(72) / revised 2016 G8) standards. The new certification applies to the entire range of Ecochlor ballast water management systems (BWMS), with flow rates of between 500 m 3 /hr. and 16,200 m 3 /hr., meaning that vessel owners may continue to install Ecochlor’s BWMS after the IMO BWMS Code October 28, 2020 deadline. The Company completed the additional testing required for active substance technologies for full approval in marine, brackish and ...