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Force Majeure declared 01 Jul 2022, Es Sider, Ras Lanuf, Al-Feel, Brega & Zueitina, Libya Libya’s National Oil Corproration (NOC) has declared a Force Majeure for the es Sider and Ras Lanuf terminals and the Al-Feel field. Read more » Extension of SCMTR implementation date 01 Jul 2022, India The implementation date of Sea Cargo Manifest and Transhipment Regulations has been further extended. Read more » Covid-19 restrictions eased 01 Jul 2022, Mauritius The Government of Mauritius has announced the easing of restrictions from today (1 July). Read more » ...

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Voyage Calculations Made Instant

AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals, has recently released a new Smart Calculator to its AXSDry platform. The new tool allows users to run quick voyage calculations against multiple vessels. AXSMarine’s new calculation tool takes essential information for a voyage and returns its results simultaneously for each vessel in a simple grid. The users can input commodity type, quantity and tolerance, load and discharge ports & rates, including bunkering operations, waiting times and DAs, vessel constants, bunker prices, as well as ...

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Windward Launches API Insights Lab Enabling Partners and Customers to Power Their Solutions with Maritime AI™

Windward (LSE: WNWD), the leading Maritime AI™ company, announced today the launch of its API Insights Lab. The Lab enables customers and partners to integrate Windward’s Maritime AI™ directly into internal systems to enhance solutions, processes, and workflows with customized insights to fit their unique needs and risk appetite. The Insights Lab includes the full Maritime AI™ Insights Catalog and the following off-the-shelf API packages: Due Diligence and Compliance, Ocean Freight Visibility (OFV), Homeland Security, and Behavioral Analysis. The APIs utilize advanced GraphQL technology that enables users to integrate them ...

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Hong Kong: Updates for regulations on merchant shipping safety, prevention of pollution and local vessels proposed

The Government proposes to amend eight regulations under the Merchant Shipping (Safety) Ordinance, the Merchant Shipping (Prevention and Control of Pollution) Ordinance and the Merchant Shipping (Local Vessels) Ordinance to incorporate into local legislation the latest requirements under three conventions of the International Maritime Organization (IMO), namely the International Maritime Dangerous Goods Code (IMDG Code), the International Convention for the Prevention of Pollution from Ships and the International Convention on the Control of Harmful Anti-Fouling Systems on Ships. The eight regulations to be amended are the Merchant Shipping (Safety) (Fire ...

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Westwood Shipping Lines Acquisition by Swire Shipping Completed

The acquisition of Westwood Shipping Lines by Swire Shipping was finalized today, following regulatory approvals and completion of standard closing conditions. Swire’s ownership will allow Westwood, an independent niche vessel operator specializing in the trade between the Pacific Northwest and Northeast Asia, to work in partnership with Swire Shipping to better serve its customers, according to Westwood President and CEO Jack Mahoney. Westwood, headquartered in Puyallup, Wash., connects the Japan and Korea markets with ports in Washington state and British Columbia and inland points in the US and Canada through ...

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Maritime Academy of Asia and the Pacific (MAAP) and Kongsberg Digital sign key simulation contract

Kongsberg Digital is pleased to announce the signing of a contract to deliver a range of maritime simulators to the new and extensive Innovation Lab of MAAP in the Philippines. The academy has been a first adopter of new simulation-based training tools for years. Kongsberg Digital’s simulator systems are central to the future-oriented Lab and will augment an already extensive range of K-Sim products, strengthening MAAP’s position as a regional institution of excellence for maritime education and innovation. The agreement which consists of a Long-Term System Support Program (LTSSP), includes ...

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Ocean Yield: Investment in vessels with long-term charters

Ocean Yield AS is pleased to announce that the Company has agreed to purchase two 36,000 cbm liquified ethylene gas carrier (LEG) newbuildings, to be constructed at Jiangsu Yangzi-Mitsui Shipbuilding in China. The vessels will be built with a specification enabling it to operate with gas as fuel. Delivery of the vessels is expected in 2024 and 2025. Upon delivery, the vessels will commence fifteen-year bareboat charter contracts to a guaranteed subsidiary of Braskem S.A., a leading global petrochemical company listed on the New York Stock Exchange. Braskem S.A. currently ...

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The first Suezmax LNG dual fuelled crude oil tanker delivered in China

The world’s first Suezmax LNG dual fuelled crude oil tanker was delivered in Guangzhou City, south China’s Guangdong Province this week. Suezmax refers to the largest vessel navigable in the Suez Canal, with a deadweight tonnage (dwt) of about 150,000 tonnes. The 158,000-dwt vessel delivered can be powered by both LNG and crude oil. When it is propelled by LNG, the vessel can reduce carbon dioxide emissions by 20 percent, nitrogen oxide emissions by 85 percent, and sulfur and particulate emissions by 99 percent. The vessel’s main engine is supplied ...

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Relentless Record Breaking at Port Houston

The Port Commission of the Port of Houston Authority met Tuesday in its regular monthly meeting and received news of continued record-breaking activity across the public terminals. In his staff report, Executive Director Roger Guenther said business remains strong for the container and general cargo terminals, with 21.6 million tons handled through May. Container activity continues at record levels for the year and is 20% higher through May. “In fact, the 335,866 TEU (twenty-foot equivalent unit) total represents the best month in Port Houston history,” Guenther said. “There are really ...

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DP World and NIIF announce broadening of partnership in India

DP World and India’s National Investment and Infrastructure Fund (NIIF) have announced the broadening of their existing partnership, with NIIF Master Fund investing primary capital of INR 22.5 billion[1] (approximately US$300 million) for a shareholding of approximately 22.5% in Hindustan Ports Private Limited (HPPL), the wholly owned subsidiary of DP World. With this transaction, which is also the Master Fund’s single largest investment, NIIF’s investment under this partnership will reach around US$500 million. The transaction is subject to customary completion conditions and is expected to close by Q1 CY2023. HPPL ...

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Sea-rail intermodal container terminal launched in China’s Guangxi

The first phase of China’s first sea-rail intermodal automated container terminal went into operation Tuesday in south China’s Guangxi Zhuang Autonomous Region. A ship loaded with goods from Indonesia became the first vessel to moor at the wharf in Qinzhou port. It left for Southeast Asia with China-made goods including auto parts, glass and chemicals on Tuesday. The first phase, including two 100,000-tonne container berths, was designed to handle 1.02 million standard containers per year. The second phase, including two 200,000-tonne container berths, is under construction. With a handling capacity ...

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TEN, Ltd. Reports Over 200% increase in Net Income

TEN, Ltd. (TEN) (NYSE: TNP) (the “Company”) today reported results (unaudited) for the quarter ended March 31, 2022. Q1 2022 SUMMARY RESULTS In the first quarter of 2022, and after six vessels going through dry-docking for survey or upgrade purposes, TEN generated $150 million in gross revenues and $9.6 million in operating income, the latter more than four times higher than the one in the 2021 first quarter. A net income of $5.5 million was achieved, approximately a $10 million improvement from the first quarter of 2021, as several of ...

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Shipping firm CMA CGM to cut price for French retailers in inflation fight

Shipping firm CMA CGM will lower container shipping rates by about 10% for large retailers in France to support government steps to curb inflation, it said on Thursday. The group, one of the world’s largest container shipping lines, was singled out this week by French Finance Minister Bruno Le Maire along with energy giant TotalEnergies as among companies that should use bumper profits to help households cope with high inflation. CMA CGM will from Aug. 1 reduce shipping rates by 500 euros ($520) per 40-foot container for consumer products imported ...

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Cutting Emissions Best Way to Save Diverse Ocean Life from Extinction, Experts Stress at Lisbon Dialogue amid Calls for Solutions Reflecting Gravity of Threat

The most important action countries can take to safeguard the diverse ecosystems, marine life and vital services offered by the world’s oceans is to reduce greenhouse gas emissions, particularly carbon dioxide, speakers stressed today in an interactive dialogue held alongside the 2022 Ocean Conference, as experts described the extreme consequences of continued inaction. “If we do not respond to this, all of these meetings will condemn us to the trash heap of history,” said John Kerry, Special Presidential Envoy for Climate of the United States, who co-chaired the dialogue with ...

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MABUX: Firm downward trend to continue in Global bunker market on July 01

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated slight downward correction on June 30: 380 HSFO – USD/MT – 723.20 (-11.32) VLSFO – USD/MT – 1 068.16 (-1.38) MGO – USD/MT – 1 356.18 (-22.13) MABUX Market/Digital Bunker Index (MDI) (comparison of market bunker prices vs. digital bunker price benchmark MABUX) on June 30 continued irregular fluctuations. In particular, 380 HSFO fuel remained undervalued in three out of four selected ports: in Rotterdam – minus $ ...

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