Publications

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6

Greek dry bulk shipping Seanergy Maritime Holdings Corp. has concluded the refinancing of the 2011-built Capesize M/V Championship through a leasing agreement with Cargill International SA.

The refinancing has released approximately USD 7.8 million of liquidity for the company.

Pursuant to the agreement, the company has chartered back the vessel on a bareboat basis and subsequently entered it into a five-year time charter with Cargill at a rate which is [...]

5

Liner giants MSC, A.P. Moller – Maersk, CMA CGM, Hapag-Lloyd, and Ocean Network Express plan to set up an association aimed at digitalization, standardization and interoperability in the container shipping industry.

The IT executives from these companies are discussing common information technology standards, which would openly available and free of charge for all stakeholders of the wider container shipping industry.

“It’s in the customers’ and all stakeholders’ best interest, if container shipping companies [...]

4

Greek dry bulk owner Diana Shipping has entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the M/V Thetis.

The gross charter rate for the 2004-built ship is USD 10,650 per day for a period of minimum fourteen to maximum seventeen months.

The charter is expected to commence tomorrow, the company said.

As informed, the employment is anticipated to generate [...]

8

German container shipping line Hapag-Lloyd delivered improved earnings in the period ended September 30, 2018, amid a recovery of freight rates and a significant increase in transport volume.

For the third quarter of the year, the company witnessed a significant improvement in its net profit, which reached EUR 113.4 million, compared to EUR 51.8 million reported in the same period of 2017.

Revenues for the third quarter was also up at [...]

7

The hull of the Color Hybrid, the world’s largest battery-hybrid ship, owned by Color Line, has arrived at Ulstein Verft in Norway for completion.

It measures 160 meters in length, and has a capacity of 2,000 passengers and about 500 cars.

The ship’s assembly was launched in April this year at Crist in Gdynia, Poland. After seven months of construction, the hull was towed to Ulsteinvik, Norway.

The vessel is scheduled for delivery to Color [...]

6

The mobilization and construction works on Rio Tinto Terminal A expansion on behalf of Canada LNG have started, BAM International, part of Dutch BAM Group said.

BAM announced the contract just before Mitsubishi Corporation, Shell, PETRONAS, PetroChina and Korea Gas Corporation (KOGAS) took the final investment decision (FID) on LNG Canada in early October.

LNG Canada agreed to extend the existing BC Works Terminal A in exchange for Rio Tinto’s Terminal B, which handles [...]

9

Danish shipping and logistics major A.P. Møller – Mærsk A/S has introduced instant booking confirmation for containers, slashing waiting times for container bookings.

The company said the move was aimed at eliminating waiting times, as the delay in booking confirmation, which has now been reduced from up to two hours to a few seconds, triggers uncertainty and extra workloads in managing supply chains for customers.

“We are now making it as [...]

7

French container shipping company CMA CGM is implementing low sulphur surcharge from/to the ports of Shanghai and Ningbo in China.

Since October 1, 2018, the 0.5% sulphur limit is applicable to the abovementioned ports.

As informed, the company will impose the new surcharge as from November 15, 2018 (date of loading in the origin ports).

According to CMA CGM, the move comes in an effort “to ensure the sustainability and reliability of [...]

6

The Port of Tallinn (AS Tallinna Sadam) and AS Alexela Invest have revealed plans to assess possibilities of the development of an LNG terminal in Paldiski, Estonia.

The two parties have signed a memorandum of understanding (MOU) for finding the best solutions for the construction of the terminal and servicing LNG tankers and bunkers as well as establishing port facilities for loading and unloading LNG on the Pakri peninsula by the [...]

5

Tanker owner and operator Ardmore Shipping Corporation has signed agreements for the refinancing of four vessels.

As World Maritime News reported, Ardmore’s subsidiaries have signed sale and leaseback deals for the Ardmore Dauntless and Ardmore Defender with Ocean Yield. The lease agreements are for a period of 12 years and include  options to repurchase each vessel at various stages prior to maturity.

Additionally, agreements have been secured for the sale and [...]

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