Category archives for: Europe & Eurasia

Infograph: Tanker Sizes 101

Infograph: Tanker Sizes 101

The global crude oil and refined product tanker fleet uses a classification system to standardize contract terms, establish shipping costs, and determine the ability of ships to travel into ports or through certain straits and channels, T. Mason Hamilton of U.S. Energy Information Association explains. This system, known as the Average Freight Rate Assessment (AFRA) […]

Arctic Ice Dwindling, Antarctica Levels Reach 30-Year Highs

Arctic Ice Dwindling, Antarctica Levels Reach 30-Year Highs

The area of sea ice in the Arctic fell to a summer minimum of around 5.0 million square kilometres this year, which is about 1.6 million square kilometres more than the record low in 2012. However, according to sea ice physicist Marcel Nicolaus from the Alfred Wegener Institute (AWI) and Lars Kaleschke from the Hamburg […]

DFDS Closing Loss-Making Route

DFDS Closing Loss-Making Route

Danish-based DFDS has started consultations with French unions about plans to close the Le Havre-Portsmouth route at the end of 2014, DFDS said on Monday, attributing the decision to continued losses. The route is part of DFDS’ business unit France & Mediterranean.The route carried 185,000 passengers and 480,000 lane metres of freight in 2013 generating revenues of […]

BFC Adds Bunker Tanker for Azov-Black Sea Basin

BFC Adds Bunker Tanker for Azov-Black Sea Basin

Baltic Fuel Company (BFC) has acquired a conventional tanker for performing of bunkering operations in the ports of the Azov – Black Sea Basin.  On September 15, 2014, the tanker arrived at port Kavkaz for customs clearance, flag changing ceremony and registration with the Russian Maritime Register of Shipping. The vessel will preserve the class […]

Jaccar, Hartmann Team Up on Ethane Business

Jaccar, Hartmann Team Up on Ethane Business

Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, have announced the establishment of a joint venture for the commercial management of ethane carriers. The new company, United Ethane Carriers (UEC), will be based in Singapore. As explained by Hartmann in a press release, its purpose will be to develop the ethane business, focusing […]

Update: Cammell Laird Strike Averted

Update: Cammell Laird Strike Averted

GMB members at Cammell Laird in Birkenhead  have voted to accept an improved pay offer and have called off the dispute in the yard over pay. The new agreement will cover the next three years and will provide the workforce with a guaranteed increase in their pay rates says GMB. Albie McGuigan, GMB Regional Officer, […]

Global Ports Streamlining to Profit

Global Ports Streamlining to Profit

Strong interim results for the period ending June 30, 2014 posted by Global Ports Investments PLC are believed to be the result of improved efficiency of the enlarged operation following the acquisition of NCC Group at the end of 2013. The company believes that the benefits of this, together with the positive foreign exchange impact , contributed […]

Maersk Raises USD 1.25 Bln in Bond Offering

Maersk Raises USD 1.25 Bln in Bond Offering

Danish shipping giant Maersk has raised USD 1.25 billion in two bond offerings. The net proceeds will be used for general corporate purposes, as explained by the company. This is the first ever USD bond offering for the shipping line, underwritten by Bank of America Merrill Lynch, Barclays, Citigroup, JP Morgan and Royal Bank of […]

Capital Puts Tankers to Work

Capital Puts Tankers to Work

Capital Product Partners L.P. has secured one+one year charter employment for three of its Chemical/Product Tankers : M/T Avax, M/T Agisilaos and M/T Alkiviadis. The 36,760 dwt Alkiviadis has been chartered by CSSA S.A., a fully owned subsidiary of Total S.A., for one year (+/- 30 days) at a gross daily rate of USD 14,125. CSSA S.A. has the […]

Finland, Russia Ink Deal on Icebreaking Cooperation

Finland, Russia Ink Deal on Icebreaking Cooperation

Finland and Russia signed an agreement on 15 September providing a framework for cooperation in icebreaking services, Finland’s Ministry of Transport and Communications said. The agreement was signed by Harri Pursiainen, Permanent Secretary of the Finnish Ministry of Transport and Communications, and Sergei Aristov, Russian Deputy Minister of Transport. As explained by the Finnish Ministry, the […]

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