Category archives for: Shipping News

Ports of Tacoma and Seattle Major Breadwinners

Ports of Tacoma and Seattle Major Breadwinners

Marine cargo operations at the U.S. ports of Seattle and Tacoma supported more than 48,000 jobs in 2013, which generated nearly USD 4.3 billion in economic activity, according to a study commissioned jointly by the two ports. This marine cargo activity produced more than USD 378 million in local and state taxes to support education, police, fire […]

Russian, Crimean Ports Given International Status

Russian, Crimean Ports Given International Status

Russian Prime Minister Dmitry Medvedev has signed a Decree which confirms the international status of all Russian ports, including those residing in the territory of the Republic of Crimea. Medvedev said that now border and customs procedures for arriving foreign vessels will be much more facilitated, eliminating the need for any additional permits and approvals. This […]

ZIM Shanghai Unloads in Long Beach

ZIM Shanghai Unloads in Long Beach

Israeli-owned containership Zim Shanghai has unloaded its cargo at the Port of Long Beach in Los Angeles, having been reverted from the Port of Oakland by pro-Palestinian protesters. The unloaded Oakland cargo in Los Angeles will most likely be trucked back up to Oakland causing additional costs to ZIM. The vessel departed Oakland on Sunday evening fully […]

Louisiana Getting First Natural Gas Liquefaction and Fuelling Facility

Louisiana Getting First Natural Gas Liquefaction and Fuelling Facility

Tenaska NG Fuels, LLC., and Waller Marine, Inc. have agreed to develop, construct, own and operate Louisiana’s first natural gas liquefaction and fuelling facility along the New Orleans-Baton Rouge Mississippi River corridor with access to the Gulf of Mexico. Tenaska Bayou LNG will provide liquefied natural gas (LNG) and compressed natural gas (CNG) as alternative […]

ClassNK Reveals MOL Comfort Investigation Findings

ClassNK Reveals MOL Comfort Investigation Findings

ClassNK has revealed report on the investigation of the cause of MOL Comfort’s fire and subsequent sinking from summer 2013. ClassNK established the Investigative Panel on Large Container Ship Safety, comprised of experts from shipbuilders, shipowners and academic institutions, to investigate the possibility of casualty occurrence and consider and examine safety of the large containership’s […]

JBIC Bankrolls Ultrabulk’s Newbuilding Pair

JBIC Bankrolls Ultrabulk’s Newbuilding Pair

The Japan Bank for International Cooperation (JBIC) has agreed to finance two Handysize bulk carriers ordered by Ultrabulk Shipping A/S Group, a member company of Chile-based shipholding group Naviera Ultranav Limitada (Ultranav), and operator of the group’s bulk carriers based in Denmark. The USD 37.3 million loan is co-financed by the Tokyo Branch of BNP Paribas […]

Steel Cut for Sovcomflot’s Gas Carrier

Steel Cut for Sovcomflot’s Gas Carrier

Steel was cut on Monday, September 29 for the pilot gas tanker ordered by Sovcomflot Group, Russia’s largest shipping company, for transportation of LNG under Yamal LNG project. The vessel is being built by South Korean Daewoo Shipbuilding and Marine Engineering. The tanker will be operated under a long-term time charter agreement between Sovcomflot and Yamal LNG OJSC. […]

UASC: Shipping Alliances Will Stifle Smaller Operators

UASC: Shipping Alliances Will Stifle Smaller Operators

John Hinge, President and CEO of United Arab Shipping Co. (UASC) believes shipping alliances will help the box markets on what he called ”a slow journey to recovery,” stabilising the freight rates along the way, the Wall Street Journal reports. UASC President has projected a bright outlook for major box shippers who have been struggling with […]

China Awards Subsidies for Scrapping Old Ships

China Awards Subsidies for Scrapping Old Ships

Four Chinese shipping companies have received subsidies from the Chinese government worth a total of USD 293.3 million for retiring old ships and upgrading their fleets, writes Reuters. China Shipping Development Co (CSDC) and China Shipping Container Lines (CSCL) announced in separate stock exchange filings that they received a combined USD 41.5 million. CSDC has […]

Converto Sticks with Shipping

Converto Sticks with Shipping

 Norway’s Converto Capital Fund, in which Aker ASA holds 99.8 per cent of the invested capital, has decided to remain in the shipping business and scrap the idea of an exit from American Shipping Company ASA (AMSC) through a contemplated secondary offering. The decision came after Converto gained confirmation of the future potential of AMSC and Aker […]

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