Dynagas Vessel Employment Almost Full
Monaco-headquarters Dynagas LNG Partners said that it had estimated contracted time charter coverage for 98% of its fleet estimated available days for 2019, 100% of its fleet estimated Available Days for 2020 and 92% of its fleet estimated Available Days for 2021.As of March 21, 2019, the Partnership’s contracted revenue backlog estimate was $1.38 billion, with an average remaining contract term of 9.5 years, the Liquefied Natural Gas (LNG) maritime transportation company said.
Navig8 in Sale, Leaseback Pact with China Bank
Navig8 Chemical Tankers entered into sale and leaseback agreements with ICBC Financial Leasing for four ships.The tanker company focuses on the maritime transportation of Chemicals worldwide said in a press release that the net proceeds from the transaction of four of the Company’s IMO2 37,000 DWT Interline coated tankers were $94,710,000.A portion of the proceeds was utilized to repay existing loans used to finance the Vessels’ newbuilding contracts under the multi-bank loan facility announced by the Company on February 3…
Dan-Bunkering Hires Four New Traders
Dan-Bunkering has announced the hiring of four new team members for the office in Dubai. Trader-wise the Middle Eastern office is the second largest office in the Group, only marginally overtaken by the head office in Middelfart, Denmark.The four new appointments consist of four different nationalities, i.e. Nakul Dubey, Capt. Ada Ezgi Baser, Norman Xie Changlong, and Rune Jensen.Nakul Dubey was born in India and did his Master’s in Business Administration in the UAE before joining Dan-Bunkering as a Base Oil & Bitumen Trader.Capt.
PDVSA Insists it's Still Working with BSM
Venezuela's state-run oil company PDVSA said on Thursday it has not halted business with maritime firm Bernhard Schulte Shipmanagement (BSM), even after the German firm said it would remove the crews that have been operating 10 of 15 PDVSA vessels over unpaid fees and return the tankers.On Tuesday, PDVSA's maritime arm PDV Marina declared an emergency due to lack of staff to immediately receive the 10 vessels BSM proposed to return to Venezuelan ports due to unpaid bills of at…
AWO Testifies Before Congress
Today, the American Waterways Operators testified before two congressional committees on the state of the American maritime industry.Tom Allegretti, President & CEO, testified before the Senate Commerce, Science and Transportation Committee while across the Capitol, Jennifer Carpenter, Executive Vice President & COO, appeared before the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation. In written testimonies submitted to the Committee and Subcommittee, both Mr. Allegretti and Mrs.
Cyber Security Grant for HudsonTrident and Fundación Tito Mella
HudsonTrident, which offers security services for the maritime sector, and Fundación Tito Mella have received the United States Trade and Development Agency (USTDA) technical assistance grant to develop a national port cyber security assessment platform in the Dominican Republic.HudsonTrident’s HACyberLogix-informed assessment approach will enable four Dominican ports to cost-effectively assess their entire organizational cybersecurity capabilities and identify cybersecurity capability vulnerabilities.The assessments will support HudsonTrident…
Waterson Enters Green Marine Environmental Certification Program
Waterson Terminal Services is joining Green Marine environmental certification program for its stevedoring and terminal operations at ProvPort. Green Marine is a leading North American environmental certification program for the maritime transportation industry. The program is a voluntary initiative to surpass regulatory requirements within the maritime industry.Waterson is the first terminal operator from Rhode Island to join Green Marine’s environmental certification program.
Hapag-Lloyd, KLU Launch New Research Centre
Germany's Kühne Logistics University (KLU) and the container shipping giant Hapag-Lloyd announced the launch of the Hapag-Lloyd Center for Shipping and Global Logistics (CSGL) in Hamburg.According to the University, in Hamburg CSGL will promote the ongoing discourse between international research and the shipping industry.Thomas Strothotte, PhD, President of the KLU said: “We are combining theory with practice, and are building upon KLU’s key competence areas digital transformation…
DP World, NIIF Win Bid at Mumbai's JNPT
Global port operator DP World said its joint venture (JV) with National Investment and Infrastructure Fund (NIIF) has won the bid to build a Free Trade Warehousing Zone (FTWZ) at Jawaharlal Nehru Port Trust (JNPT) Mumbai for USD 78 million."Hindustan Infralog Private Limited (HIPL), a joint venture between DP World (65%) and the NIIF (35%), has won the bid to develop and operate the FTWZ at India’s largest container gateway – JNPT for $78mn," said a press statement from the…
Bahri Highlights Growing US Presence
Highlighting its growing presence in the U.S., global logistics and transportation company Bahri, represented by its Bahri Logistics business unit, participated at Breakbulk Americas 2018 exhibition for the project cargo and breakbulk industry, held October 2-4 in Houston.The three-day event attracted a number of visitors and exhibitors, including specialized ocean carriers, freight forwarders, ports and terminals, logistics providers, export packers, and road, rail, barge and air transportation companies, among many others.
HudsonAnalytix and SQE Marine Team Up
SQE Marine of Piraeus, Greece, and HudsonAnalytix, headquartered in the Philadelphia, announced they have formed a Teaming Agreement between their respective organizations for collaboration in the broad area of maritime risk management. They will be working jointly to offer one another’s services and products to the shipping industry and to develop new offerings encompassing compliance, training and consulting.HudsonAnalytix and SQE Marine boast both diverse and complimentary capabilities and regional strengths.
Maritime Industry's Slow Boat to Cyber Security
Ports making up for lost timeDespite the critical role the maritime transportation system plays in the economic health of the United States, and despite its fairly recent embrace of all things automated – cranes, vehicles, surveillance and even vessels – the sector has been slow to warm to the need to protect its digital systems and assets.Post 9/11, security concerns about the nation’s borders, air space and infrastructure, including ports, moved front and center for a brief moment before other concerns…
ICTSI Contecon Guayaquil Gets Approval to Handle Mega Vessels
Contecon Guayaquil SA (CGSA), subsidiary of Manila-based International Container Terminal Services (ICTSI) has received the government of Ecuador approval to accommodate mega vessels of up to 305 meters in length at the Port of Guayaquil’s Berths 2 and 3. "ICTSI further strengthened its market position as the main trading gateway in the entire Ecuador after recently getting the government’s nod to service larger vessels," said a press release from the company. The Ecuadorian Ministry of Transport and Public Works…
Laino Named Chembulk CCO
Chembulk Tankers named Steve Laino its Chief Commercial Officer, based out of the Southport office and responsible for all facets of our commercial strategy worldwide, including chartering, projects and client relations. Laino comes to Chembulk with more than two decades of diverse experience in the maritime transportation industry, with experience in the chemical tanker sector. Laino has held roles in operations both at sea and ashore, in commercial capacities as a tanker broker, projects broker and shipowner.
Sovcomflot's Pskov Loads First Cargo from Yamal LNG
The liquefied natural gas (LNG) carrier Pskov completed loading at the Port of Sabetta (YNAD), with the first cargo of LNG produced from the second high-tech production line at the Yamal LNG plant.August 08 marked the launch of the second production train at Yamal LNG, which happened six months ahead of schedule.Pskov is a state-of-the-art Atlanticmax LNG carrier with a cargo capacity of 170,000 cubic metres. She was built to order for Sovcomflot Group in 2014, to transport LNG under a long-term time charter agreement with Gazprom.
CMA CGM Celebrates 40 Years of Entrepreneurialship
40 years ago, on September 13th, 1978, Jacques R. Saadé launched the first maritime line between Marseilles and Beirut, with only one ship and 4 employees. The day marked the beginning of an extraordinary humane and entrepreneurial adventure, said a press release.According to the statement, 40 years later, CMA CGM has become a recognized world leader, with 34,000 employees and a presence in more than 160 countries. History: It is amid the Lebanese war that Jacques R. Saadé decided to settle in Marseilles to protect his family.
Maritime Ports Pushed to Up Cyber Security
Resilience planning, Info Sharing Take Spotlight“Oh what a tangled web we weave, when first we practice to deceive.” That old chestnut gets turned on its head when it comes to port cyber security. It’s more like “Oh what a tangled web we’ve woven, so much harder to stop data stolen.”Ports today have the physical aspect of security pretty well nailed shut - gates, locks, fencing, alarms, cameras, drones, etc. As Chris Mason, Rajant Corp.’s director of sales for EMEA, notes, “Every…
Korea Ocean Business Corporation to Support 10 Shipping Companies
The state-run Korea Ocean Business Corporation (KOBC) said it will offer support to 10 small and medium shipping lines as part of its effort to revive the country's maritime transportation sector.According to a report in Yonhap, KOBC selected the shipping lines as its primary negotiation partner with so-called sale and lease back (S&LB) assistance to be provided. KOBC aims to provide different services to rebuild shipping industry, including management of trade, support for replacement…
Partners to Leverage AI to Optimize Maritime Logistics
Transmetrics’ digital solution optimizes marine logistics using AI technologies and Marlink’s global multi-band networkMarlink has signed an agreement with Transmetrics to establish a strategic business partnership aimed at predictive logistics optimization for maritime customers. The agreement will enable Transmetrics, a Forbes-awarded start-up, to leverage Marlink’s broadband satellite communications network, digital solutions and contacts to further develop maritime logistics innovations.
IMO Workshop on Secure Shipping in Asia
Shipping forms the backbone of world trade, transporting around 80% of global trade by volume. No other method of mass transportation is as cost-effective or fuel-efficient.Each day, around 50,000 merchant ships deliver the things people need and want – from food, to clothes, fuel, raw materials, electronics, medication and more. The security of maritime trade is therefore paramount to people all over the world.One way in which International Maritime Organization (IMO) supports maritime security is through targeted workshops supporting countries to implement IMO measures.
Ports of Indiana Names Coda CEO
Vanta E. Coda II has been named as the Ports of Indiana's next chief executive officer to replace outgoing CEO Rich Cooper who is set to retire July 1, 2018.Coda returns to the Ohio River Valley with 25 years of experience in maritime and multimodal operations on the Great Lakes, Gulf of Mexico and Ohio River. He most recently served as the executive director for the Duluth Seaway Port Authority, operating in the busiest port district on the Great Lakes. During his time at Duluth…
DP World's Earnings Grow 15.1%
Global trade enabler DP World today announces strong financial results for the twelve months ending 31 December 2017. The company delivered earnings in excess of $1 billion and above 50% EBITDA margin for the full year. Revenue grew 13.2% and adjusted EBITDA increased 9.1% with adjusted EBITDA margin of 52.4%, delivering profit attributable to owners of the Company, before separately disclosed items of $1,209 million, up 7.3%, and EPS of 145.6 US cents. On a like-for-like basis…
Hyundai Merchant Marine Gets $420 Mln to Add 5 VLCCs
South Korea’s leading sea carrier Hyundai Merchant Marine Co. (HMM) has signed a financial contract with Korea Shipping and Maritime Transportation to build five 300,000-ton very large crude carriers (VLCCs), said a report in Business Korea. HMM has secured $420 million (470 billion won) through a state shipbuilding subsidy funding program, it said. The order has already been placed with local shipyard Daewoo Shipbuilding and Marine Engineering (DSME) September last year. The…
Ocean Yield Takes Delivery of Two Vessels
Norwegian shipowner Ocean Yield ASA took delivery of newly-built handysize dry bulk vessel "La Fresnais" and "Interlink Amenity". In press release, Ocean Yield said that it took the delivery of the 2018 built handysize dry bulk vessel "La Fresnais" on April 10. Upon delivery the vessel commenced a 12 years' bareboat charter to a company owned and guaranteed by Louis Dreyfus Armateurs Group (LDA). LDA is a French family group engaged in maritime transportation and services and founded more than 160 years ago.
King Abdullah Port 8th Fastest Growing Port in the World
King Abdullah Port landed the eighth spot among the world’s fastest growing ports for 2017, according to Alphaliner, the global leader in analyzing maritime transport data, port capabilities and the future of vessels and shipping route development. The new ranking comes after King Abdullah Port had previously announced a 21% increase in its annual throughput in 2017, making it the second largest port in the Kingdom in terms of container handling. In a related context, King Abdullah Port moved up to 87th place among the world’s 100 biggest container ports for 2017, after ranking 98th in 2016.
Canaveral Port Authority Names Poole CFO
Canaveral Port Authority has named Michael B. Poole as Chief Financial Officer (CFO) for Port Canaveral, effective May 11, 2018.As CFO, Poole's primary duty is to preserve and safeguard the financial assets and affairs of the Canaveral Port Authority. Reporting directly to the CEO, Poole will have overall responsibility for providing strategic financial guidance, and defining and managing the Port's efforts to achieve fiscal and business goals and objectives.Poole brings to the Port 30 years experience in maritime transportation…