Japan: Ocean Release for Fukushima Water
A panel of experts advising Japan's government on a disposal method for radioactive water from the destroyed Fukushima nuclear plant on Friday recommended releasing it into the ocean, a move likely to alarm neighboring countries.The panel under the industry ministry came to the conclusion after narrowing the choice to either releasing the contaminated water into the Pacific Ocean or letting it evaporate - and opted for the former.
US Lifts Sanctions on COSCO's Dalian Unit
The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.President Donald Trump's administration on Sept. 25 blacklisted two units of COSCO, named after the northeastern Chinese port of Dalian.
IMO2020: Low Sulfur Fuel Potential Pitfalls
(This is excerpted from Maritime Reporter & Engineering News' January 2020 "The Path to Zero" column.)Are the world’s ships’ engines ready for IMO compliant very low sulfur fuel? That’s a wide open question as ship owners step to the end of the preparatory gang-plank on January 1, 2020 when 0.5% very low sulfur distillate fuels (VLSF) have to replace residual heavy fuel oil (HFO) containing 3.5% sulfur.You…
Baltic Index Down for 8th Straight Week
The Baltic Exchange's main sea freight index fell on Friday, with rates for the capesize segment slipping into the negative for the first time ever on lower demand and as the coronavirus outbreak muted activity.The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 11 points, or 2.2%, to 487 — its lowest level since April 2016.The index has lost over 10.5% this week…
China Virus May Delay Scrubber Retrofits
Shipping companies may face delivery delays of vessels fitted with exhaust gas filtering equipment that complies with anti-pollution rules that kicked in this year due to the impact from the virus outbreak in China, shipping sources said on Friday.A Mitsui OSK Lines executive said many vessels were in Chinese docks to get so-called scrubbers installed to meet the new emissions rules but with four Chinese provinces asking companies to extend the Lunar New Year holiday by a week, to Feb.
Partners to Expand Pakistan LNG Inport Terminal
Excelerate Energy announced it has agreed with partner Engro Elengy Terminal Ltd. (EETL) to expand the EETL liquefied natural gas (LNG) import terminal in Port Qasim, Pakistan.Under the heads of agreement (HOA), Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and due to be delivered in April 2020.
Norwegian Police Raid Teekay Office Over Waste Export
Norway's national economic crime unit raided the local office of international shipping company Teekay Offshore this week on suspicion of illegally exporting waste…
JFLCO Acquires Global Marine Group
British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F.
Bahri Posts 172% Surge in Q4 Net Profit
The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned…
Ørsted Eyes Carbon-Neutrality by 2025
The global leader in offshore wind Ørsted A/S will become carbon neutral by 2025. "This will make Ørsted the first major energy company to reach net-zero emissions…
EGS Connects Dutch Deepsea Terminals
The intermodal service provider European Gateway Services (EGS) offers network of connections between all deepsea terminals Maasvlakte Rotterdam with Nuremberg in…
Eidsvaag Converts PSV to Fish Feed Carriers
Norwegian company that specializes in the distribution of fish feed Eidsvaag has contracted Damen to convert platform supply vessels (PSV) into highly demanded fish…
Polar Research Ship Commissions Lifeboats
UK’s new polar research ship being built at Cammell Laird in Birkenhead RRS Sir David Attenborough has achieved another important milestone with the commissioning…
LNG and Shipping Decarbonisation Target
Though liquefied natural gas (LNG) could help the shipping industry to reach its decarbonization target, it could wreck the climate, finds a study.According to a…
Navibulgar Orders Four Bulkers
Bulgarian shipping company Navigation Maritime Bulgare (Navibulgar) ordered a new series of four 31800 ton bulk carriers in the Chinese Shipyard Jiangsu New Yangzi Shipbuilding Co.The century-old…
Kirby to Acquire Savage Inland Marine Fleet
Houston-based Kirby Corporation said it has signed a definitive agreement to acquire Savage Inland Marine's towboat and tank barge fleet for approximately $278 million in cash and the assumption of leases.Kirby will acquire Savage's inland fleet consisting of 46 towboats and 90 tank barges with approximately 2.5 million barrels of capacity, primarily used for transporting petrochemicals, refined products and crude oil on the Mississippi River, its tributaries and the Gulf Intracoastal Waterway.
Lenders Back Initiative to Factor CO2 Cuts into Shipping Finance
Credit Suisse, BNP Paribas and French public investment bank Bpifrance are the latest lenders to join an initiative to link provision of shipping finance to cuts in carbon dioxide emissions.Global shipping accounts for 2.2% of the world's CO2 emissions and the industry is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.Last year, a group of leading banks signed up to environmental commitments known as the "Poseidon Principles"…
Coronavirus Test Negative on Board Costa Smeralda
A test carried out on Thursday on a passenger from Macau aboard a cruise ship in Italy proved she did not have the new coronavirus, an Italian health ministry spokesman said.The Costa Crociere company’s ship Costa Smeralda docked in Civitavecchia, north of Rome, with about 6,000 people aboard. The mayor of the town had asked authorities to prevent passengers from disembarking until it had been confirmed the virus was not present.The 54-year-old woman…
Christian Honored by Propeller Club
The Propeller Club of the U.S. Port of New Orleans honored Brandy D. Christian as their 2019 Maritime Person of the Year at its 86th Annual Maritime Person of the Year Gala on Wednesday, Jan. 29, at the Metairie Country Club.Read Maritime Logistics Professional's interview with Brandy Christian here.Christian, who serves as President and CEO of the Port of New Orleans (Port NOLA) and CEO of the New Orleans Public Belt Railroad Corporation (NOPB)…
AAM Wins Deal with Birdon America
All American Marine, Inc. (AAM) has been named the West Coast shipyard by Birdon America, Inc., for Phase I of a contract to perform a Service Life Extension Program (SLEP) on a number of United States Coast Guard’s (USCG) fleet of Motor Life Boats (MLB).AAM is currently working on two MLBs at its shop, with a plan to ramp up to eight MLB vessels each year during Phase II. Birdon America was awarded the prime contract to perform Service Life Extension work on all MLBs in the U.S.
