Category archives for: Regional news

Paris, Tokyo MoUs Want Watckeepers Rested

Paris, Tokyo MoUs Want Watckeepers Rested

The Maritime Authorities of the Paris and the Tokyo Memoranda of Understanding (MoU) on Port State Control will launch a joint Concentrated Inspection Campaign (CIC) with the purpose of establishing that watchkeeping personnel are meeting the requirements regarding hours of rest as per STCW 78 as amended (including the Manila amendments).   This inspection campaign will […]

K-Line Lets America Ports In on Container Terminal Action

K-Line Lets America Ports In on Container Terminal Action

KAWASAKI KISEN KAISHA, LTD. (K Line) has agreed on a transfer of a partial stake in International Transportation Service, Inc. (ITS) to Ports America.   ITS, which is a wholly-owned subsidiary of “K” Line, has operated container terminals in Long Beach and Tacoma for more than 40 years. ITS was the pioneer in providing on-dock double […]

Eco-Ship Fund for Korean Shippers

Eco-Ship Fund for Korean Shippers

Korean shipping companies will benefit from an ‘eco-ship fund’ worth USD $976 million Korea Eximbank (Kexim) plans to launch so as to boost domestic shipping companies in switching to green technology.   The fund is expected to open for business this November, with the contribution from the South Korean state bank with 25% oand institutional […]

Hamburg Court Backs E.R. Schiffahrt’s Claim

Hamburg Court Backs E.R. Schiffahrt’s Claim

In the dispute between Hamburg shipping company E.R. Schiffahrt and investment firm MPC Flottenfonds III, the Higher Regional Court of Hamburg (Oberlandesgericht Hamburg – OLG) ruled in favour of E.R. Schiffahrt on July 25, 2014.   The purpose of the interim injunction proceedings was to secure the funds arising from the sales proceeds for the […]

VIDEO: Printing Your Own Spare Parts

VIDEO: Printing Your Own Spare Parts

Surging shipping costs for ship spare parts has enticed engineers to look for more cost-effective options. If only the spare parts could be made onboard! Well, they can, with a 3D printer.   Danish shipping giant Maersk Tankers is experimenting this idea and wants to install a 3D printer on a tanker vessel to allow […]

UPDATE: Kurdish Oil Tanker Unloaded at Sea

UPDATE: Kurdish Oil Tanker Unloaded at Sea

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker United Emblem, into another tanker in the South China Sea, reports Reuters, but the buyer’s identity has not been disclosed.   The United Emblem pertains to a group of three tankers carrying Kurdish oil managed by Marine Management Services M.C., a Piraeus-based […]

DSME Adds Four VLCCs to Its Orderbook

DSME Adds Four VLCCs to Its Orderbook

South Korean Shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has won an order for four very large crude carriers (VLCCs) from Greek shipowner John Angelicoussis, DSME informed.   The deal is worth USD 400 million, around 98 mln per vessel, and has been inked with Maran Tankers Management, part of Angelicoussis Group. Under the deal, […]

LNG Boil-Off Risk Focus of London Meeting

LNG Boil-Off Risk Focus of London Meeting

The allocation of responsibilities in respect of heel and boil-off of cargo were among the key topics discussed during the third meeting of the sub-committee tasked with the development of a new standard voyage charter party for the transportation of LNG held on July 15th in London.   In time charters, the consequence of delay […]

Seadrill, Rosneft Deal Moves Ahead Despite Sanctions

Seadrill, Rosneft Deal Moves Ahead Despite Sanctions

North Atlantic Drilling Ltd., a subsidiary of Seadrill, has announced that 6 binding offshore contracts have been executed with the Russian oil giant Rosneft Oil Company. The total revenue potential for the six contracts exclusive of mobilization is approximately USD 4.25 billion.   According to the agreement, any break rights expire after 100 days. The executed contracts include 5 year […]

Fraser Yachts Sells Five in Ten Days

Fraser Yachts Sells Five in Ten Days

Fraser Yachts has boasted its fifth yacht sale in just ten days. Whilst the summer period is traditionally a quieter time for yacht sales, 2014 seems determined to continue the positive path it set out on at the beginning of the year.   Last week the 26m ELENA B from Cantieri di Pisa was sold, […]

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