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Suezmaxes Find Utilization Support

Throughout May, we observed Suezmax freight rates make considerable gains compared to the previous month with TD6 trading up about 16% month-on-month. Gains along this trade as well as others can be attributed to 63.4% utilization in May versus 62.1% the prior month (Figure). This is driven by stronger demand fundamentals against vessel supply (which declined month-on-month) as the Black Sea/Mediterranean market continues to provide support for this sector. We count roughly 124 loadings in this region in May, a 65% gain month-on-month and the highest levels since 2014, when ...

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Shipping industry presses to undermine European Ship Recycling Regulation

On Monday, the EU member states’ experts on ship recycling met in Brussels to discuss the latest developments, six months ahead of the application of the 2013 Ship Recycling Regulation. With the recent decision by the Chinese government to stop the import of end-of-life ships for scrapping, the shipping industry is quick to lament that there will not be enough recycling capacity and that there will be too few options for them under the EU List of approved recycling facilities. The industry claims that the standard set by the EU ...

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Vitol behind VLCC to light-load at Enterprise Texas City dock: sources

Vitol has chartered the tanker FPMC C MELODY to load at least 1.1 million barrels of crude oil at Enterprise Products’ Texas City dock on the Houston Ship Channel, according to market sources, the first time crude was loaded onto a VLCC there. Enterprise leases the Texas City docks from the Port of Texas City as part of its Seaway system. The dock is a single pier that extends over 1,000 feet and has a draft of 45 feet, the company has said. An Enterprise executive said earlier this month ...

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Schulte Group affirms long-standing commitment to Cypriot shipping sector in meeting with President of Cyprus

The Chairman of the Schulte Group, Dr. Heinrich Schulte, underlined his long-term commitment to the Cypriot shipping industry when he met with the President of the Republic of Cyprus, H.E. Mr. Nicos Anastasiades, at the Presidential Palace in Nicosia, on June 11th, 2018. Dr. Schulte was accompanied by his son Johann Schulte, Yiannis Sykas, CEO of newly formed Hanseatic Capital Management, and Charis Charilaou, Director of Bernard Schulte (Cyprus) Ltd. At the meeting, H.E. President Nicos Anastasiades expressed his sincere gratitude towards Dr. Schulte for his invaluable contribution to the ...

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Maritime Cook Islands Makes Positive Progress to be on Tokyo MOU White List

The Cook Islands flag, operated by ship registry Maritime Cook Islands (MCI), has shown positive flag state performance, as reported in the latest report on Port State Control in the Asia Pacific Region by Tokyo MOU. PORT STATE INSPECTIONS PER FLAG In the recently published report, Cook Islands reported a decrease in the number of inspections with deficiencies; from 27 in 2016 to 20 in 2017. Number of deficiencies has also seen a significant decrease from 181 in 2016 to 116 in 2017. SUMMARY OF PORT STATE INSPECTIONS DATA The ...

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CMA CGM to acquire CONTAINERSHIPS a leader in intra-regional transportation in Northern Europe

CMA CGM Group, a leading worldwide shipping Group, is pleased to announce the signature of an agreement between CMA CGM and Container Finance Ltd Oy pursuant to which the container shipping and logistics business Containerships (and Container Finance’s holdings in Multi-Link Terminals Ltd and CD Holding Oy) will become part of the CMA CGM Group. The Finnish company is specialized in the intra-European market and will strengthen CMA CGM’s intra-European offer. This transaction remains subject to approval by the relevant authorities. An offer complementary to CMA CGM’s service offering Founded ...

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Cayman moving up the ‘White List’ of port state control regimes

The Cayman Islands Shipping Registry, a division of the Maritime Authority of the Cayman Islands, is once again on the “White List” of the 2017 Annual Report for the Tokyo Memorandum of Understanding on Port State Control. It is the ninth consecutive year Cayman has been listed for demonstrating an excellent ship safety and pollution prevention record. Cayman has made consistent improvements on its performance over the past three years, MACI said in a press release, and moved up to number 11 of 99 flags listed in the report. The ...

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The Nautical Institute becomes Incentive Provider for Green Award

The Nautical Institute is proud to be joining the Green Award scheme as an Incentive Provider to support an environmentally friendly maritime industry. Green Award identifies and certifies ships that are extra clean, safe, demonstrate excellent performance and have gone beyond the legal standards. With over 900 ships certified, the Green Award is recognised throughout the industry as a quality mark. In joining over 120 ports and other maritime service providers in support of the initiative, The Nautical Institute now offers all Green Award members: * 10% discount of all ...

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Digital Silk Road – Belt and Road on Blockchain

The Belt and Road Initiative, is a significant development strategy launched by the Chinese government with the intention of promoting economic co-operation among countries along the proposed Belt and Road routes. The ‘Belt and Road’ initiative promises more than US$1 trillion of Chinese investment in some 60 countries. The main aim is socio-economic development through improving the routes for land and sea trade. The initiative will also boost science and technology across the region, for example through research into artificial intelligence, nanotechnology, quantum computing and smart cities. In addition to ...

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Cargill sets goals to make ocean transportation safer, more efficient and sustainable

Cargill has published its first corporate responsibility report specifically for its ocean transportation business. The report, which is written in line with the Global Reporting Initiative, provides an update on progress for 2017. The company outlines its plans and activities to lead dry bulk shipping, one of the world’s oldest and most traditional industries, into a new era by making shipping safer, more efficient and sustainable. Together with its stakeholders, Cargill completed a comprehensive materiality assessment for its operations in mid-2017. Using this assessment tool as a basis, the business ...

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Maersk family foundation to pump money into hot water heating

Denmark’s A.P. Moller Holding, which controls shipping giant A.P. Moller-Maersk, plans a move into the hot water heating market in support of the country’s switch to renewable energy. Denmark generated close to half of its electricity consumption from wind energy last year. Maersk said it sees geothermal heating playing a central role in the green transition for the country’s heating supply. “A.P. Moller Holding reviews the opportunity of providing geothermal solutions, with the potential to cover up to 30 percent of all district heating (in Denmark),” Chief Executive Robert Maersk ...

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Rock Seven: Network Innovations and Rock Seven form new tracking technology partnership

UK-based Iridium satcom specialist, Rock Seven, has teamed up with Network Innovations Inc. (“NI”) to supply the field hardware for NI’s expansion into IoT applications in the aviation, maritime, government and land mobile sectors. The reseller partnership with Rock Seven enables NI to provide a suite of dependable, adaptable and efficient asset-tracking solutions that deliver a strong Return on Investment (ROI) to its customers. Network Innovations’ vertical market solutions portfolio will expand through its partnership with Rock Seven by incorporating RockAIR, RockFLEET, RockStar & RockBLOCK into a dynamic suite of ...

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Eighty-two Crowley Vessels Honored with Jones F. Devlin Awards in Recognition of 613 Combined Years of Safe Operations

Eighty-two Crowley Maritime Corporation owned or managed vessels recently received the Chamber of Shipping of America (CSA)’s annual Jones F. Devlin Awards in recognition of their outstanding safety records in 2017. Each year the CSA grants Devlin Award certificates to manned merchant vessels that have operated for two or more years without incurring a lost time injury (LTI), specifically highlighting the skills and dedication of the crewmembers responsible for safe vessel operations. Crowley’s 2017 Devlin Award-worthy vessels together have achieved an impressive total of 613 years of service without an ...

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New Multiple Engine Display from Oceanic Systems (UK) Ltd

Oceanic Systems (UK) Ltd has recently added another groundbreaking engine display to the company’s portfolio, the 4161 Multiple Engine Display. Designed as part of Oceanic’s iconic BlackGlass range, these engine displays are chosen for their advanced functionality and elegant appearance. With sunlight readable and dimmable colour graphics, these displays add class when installed in the vessel’s bridge. The 4161 Multiple Engine Display shows data for up to four engines and is the latest development in a range of Oceanic Systems engine displays. These displays are the perfect alternative to original ...

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Project Forward Receives ‘Most Sustainable Project’ Award at Maritime2020 Summit in Copenhagen

Project Forward received the Maritime2020 Summit Award for The Most Sustainable Project, “awarded for a project that stood out for its environmentally conscious techniques and processes that ensure sustainability in the maritime industry.” “Project Forward represents a milestone for the shipping industry, and this prestigious award helps promote its recognition worldwide. We are hopeful that by creating a new benchmark in ship emissions and performance, and by at the same time lowering the cost of transportation, we will be able to shape a better future for the generations to come.” ...

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