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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 [...]


Globe Shipholding has agreed a USD 132.8 million sale and leaseback transaction for two tankers with CCB Financial Leasing.

The vessels were acquired from and chartered back to two subsidiaries of Globe Shipholding, which maintain a fleet of crude carrier tankers managed by Almi Tankers.

CCBL’s transaction with Globe represents the first completed sale and leaseback of VLCCs in the Chinese leasing community.

The financing was drawn by Globe under the sale [...]


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.

According to the [...]


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 [...]


Russian state corporation specializing in nuclear energy, Rosatom, has been granted the role of top regulator in the development of the Northern Sea Route.

In the first half of December 2018, the State Duma adopted the new law, which was approved by Russia’s Federation Council on December 21.

The law, which grants the company a leading role in the Russian Arctic development, was signed by the country’s President Vladimir Putin later that [...]


Singapore-based shipbuilder Keppel Offshore & Marine clinched contracts worth about SGD 300 million (USD 218.8 million).

The contacts range from the design and construction of an ice-class LNG bunker vessel, refurbishment of a Floating Production Storage and Offloading vessel (FPSO) to 65 scrubber retrofit projects.

The first contract was inked by Keppel Singmarine with Shturman Koshelev LLC for the design and construction of an ice-class LNG bunker vessel. When completed in [...]


The Asia to Mediterranean headhaul market has experienced notable improvements in the second half of 2018, according to UK-based shipping consultancy Drewry. 

After a flat second quarter, westbound Asia to Mediterranean volumes in the period July-September rose by 3.4%, and returns for October yielded a growth rate of 5.6%, Drewry said citing CTS data.

The year-to-date rise in headhaul demand was by the end of October reading 3.5% , much better [...]


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 [...]

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