Swiss-based Mediterranean Shipping Company (MSC) said that significant progress has been made in the clean-up operation of the debris originating from containers that fell from MSC Zoe on January 2 during heavy weather.
In total 1,220 metric tons of debris have been collected on the German and Dutch beaches since the incident, according to MSC.
“By deploying 4×4 vehicles, tractors and specialist equipment such as a beach vacuum-cleaners the response operation has [...]
South Korea has reclaimed the crown from China as the top shipbuilding nation in 2018.
Korean shipbuilders clinched new orders totaling a combined 12.63 million compensated gross tons (CGTs) last year to account for 44.2 percent of 28.6 million CGTs for all global orders placed, Yonhap reported citing data from Clarksons.
Chinese rivals came next with 9.15 million CGTs, followed by Japanese shipyards with 3.6 million CGTs.
China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared with 7.9 million b/d for the US, according to the US Energy Information Administration (EIA).
In 2013, China had become the world’s largest net importer of total petroleum and other liquid fuels.
As informed, new refinery capacity and strategic inventory stockpiling combined with declining domestic oil production were the [...]
Small-scale LNG projects are expected to gain momentum driven by strong demand for LNG from small importers coupled with reduced risk and lower investment cost when compared to mega LNG export projects, according to Drewry.
As a result, the UK-based shipping consultancy expects an increase in ordering of small LNG carriers (less than 50,000 cbm) in 2019 and beyond.
Small projects, defined as facilities with production and regasification capacity of less [...]
Ocean Network Express (ONE) and PSA Singapore (PSA) have unveiled their plans to form a joint venture company based at Pasir Panjang Terminal in Singapore.
Subject to regulatory approvals, the joint venture terminal is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual handling capacity of 4 million TEUs.
“Through this joint venture in Singapore, ONE will be enabled [...]
South Korean shipping company Hyundai Merchant Marine (HMM) is on track with its plans to acquire 50 ownership in the Hyundai Pusan New-Port Terminal that was sold off in 2016 as part of its restructuring.
HMM told World Maritime News that currently, Waska (SPC) holds 50% stake in the terminal, PSA 40%, and HMM 10%.
According to a regulatory filing, the company will acquire 126.9 billion shares worth KRW 126.9 billion [...]