INSIGHTS: Noose Tightens Around Iranian Shipping
Somewhere on its journey from the waters off Iran, around Africa's southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own.The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines off Gibraltar, raising tensions in the Gulf where Iran detained a UK-flagged ship in retaliation.Grace 1 remains impounded, not because of its flag but because it was suspected of taking oil to Syria in breach of EU sanctions…
Meriaura Signs Five New TC Agreements
Finnish shipping company Meriaura has signed new time charter-in agreements covering five vessels.The five vessels that will join the company’s fleet include a deck cargo carrier, two multipurpose-heavy lift dry cargo vessels and two traditional dry bulk carriers said a press note from Meriaura, specializing in the transport of industrial raw materials and project cargo on the Baltic Sea and in Europe.M/S Enough Talk is a deck cargo carrier of the same type and size as Meriaura’s deck cargo carriers Aura and Meri.
Adonis software Suite to Support Viking's European Ferry Fleet
Adonis AS (Adonis),providers of global maritime HR solutions, has announced that Viking Line AB (Viking Line) will implement the Adonis Personnel Suite for their offices in Mariehamn, Finland and onboard six of their ferries. The implementation will include Adonis Safety Module for six vessels, the Adonis Day2Day planning module and the full Adonis Payroll Module. All modules will be customized per Finnish agreements and government rules. Viking Line is a market-leading brand in passenger traffic on the northern Baltic Sea.
Intermarine Enters Joint Venture with Zeaborn Group
Maritime Holdings Delaware, LLC, parent company of project, breakbulk and heavylift cargo carrier Intermarine, LLC has entered into a joint venture agreement with Zeaborn Group.The joint venture entity, ZeaMarine GmbH, will include the transfer of assets and operating entities from Zeaborn´s commercial activities as well as Zeaborn-owned Rickmers Line GmbH and Maritime Holdings-owned Intermarine, LLC.The shareholders of the newly-formed ZEAMARINE will also commit to fund new capital to grow the joint venture. Zeaborn Group will serve as the majority shareholder.
Cranes, Heavy Lift Shipping, Engineering and New Technologies
Compared to new technologies, conventional engineering in shipping is a relatively simple science: computable and generally predictable. However, heavy lift shipping presents challenges that go far beyond what is required with standard unitized cargoes. The transportation of project cargoes - often highly valuable components of multi-billion-dollar projects - requires expert planning to ensure they are loaded and transported safely and efficiently. Last year AAL shipped two giant cyclone vessels (22m x 11m x 10m and weighing over 500mt each) to Petronas’ $27 billion RAPID project in Malaysia.
Cox Takes over as Matson Board Chairman
Matson, Inc. president and chief executive officer Matthew J. Cox will succeed retiring chairman of the board Walter A. Dods, the company announced today. The appointment becomes effective at the end of the company's annual shareholders’ meeting today, as Dods retires in accordance with the company's corporate governance guidelines limiting board members’ age. “In my nearly 30 years associated with Matson, I've never felt stronger about its leadership and long-term prospects,” Dods said.
First Ocean Vessel of 2017 Arrives at Port of Indiana
The first ocean vessel of the year arrived at the Port of Indiana-Burns Harbor marking the official opening of the international shipping season. Port officials welcomed the 413-foot general cargo carrier BBC Mont Blanc and presented the captain with the Ports of Indiana Steel Stein. "The arrival of the first ocean ship of the new year is an exciting time not only for our port, but also for our port companies and numerous other regional businesses that rely on the cargoes these vessels carry," said Port Director Ian Hirt. "For northwest Indiana, the opening of the St.
Hanjin Shipping to Submit Self-Rescue Plan
South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media. According to the shipper, the plan includes details on securing funds from its parent Hanjin Group and cutting charter fees from foreign vessel owners. According to Pulse, Hanjin Group is expected have stronger units like Korean Air help out their troubled affiliate Hanjin Shipping through new share purchase and negotiate for cut in charter fees to up to 28 percent to normalize the country’s largest cargo carrier.
Explosion in Cargo Carrier in Brazil
A kamsarmax bulk carrier owned by Greece’s Transmed Shipping was hit by an explosion in one of its cargo holds while anchored at Paranagua Port in Brazil. The Paranaguá Port Authority says it received a report at about 3 p.m. The explosion may have been caused by gas generated by the maize kept being under high temperature, combined with recent fumigation gas, or by malpractice of the crew. The 235 meters long vessel remained under observation for 24 hours and was surveyed by technicians regarding the sea worthiness.
Ship Officers Charged in Oil Discharge Cover Up
A federal grand jury in Greenville, North Carolina, has returned a nine-count indictment charging two engineering officers employed by Oceanfleet Shipping Limited with crimes relating to the illegal discharge of oily wastes directly into the sea, announced Assistant Attorney General John C. Cruden for the Department of Justice’s Environment and Natural Resources Division and U.S. Attorney Thomas G. Walker for the Eastern District of North Carolina. Oceanfleet Shipping Limited is a Greek shipping company that operates the cargo carrier M/V Ocean Hope.
Horizon Lines in Red, But EBITDA Rises in Q1 2013
First quarter 2013 net loss amounted to US$ 20.1 million, while rate, net of fuel, increased 1.9% & adjusted EBITDA was up 25.7% from a year ago. "The positive factors resulting in adjusted EBITDA growth were partially offset by reduced container volume, higher stock-based compensation expense, mechanical issues on one of our vessels and increased vessel operating expenses. "In recent months, we have taken steps to improve the competitiveness of our Puerto Rico service by reducing sailings between Jacksonville and San Juan to once a week and moving our northeast service to Philadelphia," Mr.
Horizon Lines Pleads Guilty in Environmental Case
Horizon Lines reaches agreement with U.S. Department of Justice on Environmental Record-Keeping Incident. Horizon Lines, Inc. today announced that its Horizon Lines, LLC operating subsidiary has entered into an agreement with the U.S. Department of Justice, under which the ocean cargo carrier will plead guilty to two counts of providing federal authorities with false vessel oil record-keeping entries on a containership in the U.S. West Coast-Hawaii service. Under the agreement…