Finance - News

DNV GL has been committed to using its position as an independent third party to build trust in data quality and confidence in secure sharing of data. At the same time, DNV GL has been working to take advantage of the opportunities created by digitalisation to offer new services and ways of working that enhance the customer experience, improve quality and are more efficient. “Shipping is in the midst of a tectonic shift towards digitalisation – towards being able to access and utili...

ReSea Project is a community-driven solution to remove plastic from oceans and rivers. The certification covers their traceability system for the collection process in Indonesia.  The cleanup solution is community-driven, meaning that people in local communities are employed to recover the plastic polluting oceans and rivers. This contributes to better living conditions for those removing the plastic and their families, and it helps raise awareness to stop plastic pollution at it...

Golden Ocean Group Limited is contemplating entering into a transaction for the acquisition of 18 modern scrubber-fitted dry bulk vessels consisting of 10x Newcastlemaxes built 2019-21 and 8x Kamsarmaxes built 2020-21 (the “Vessels”) from affiliates of Hemen Holding Limited, a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, the Company’s largest shareholder. Fleet renewal strategy The transaction will add sig...

FESCO Transportation Group (FESCO) is expanding the coverage of its railway service FЕSCO Moscow Shuttle (FMS) on the route from Vladivostok to Moscow by adding a new point of departure and arrival – terminal and logistics center - Bely Rast. Thus, FESCO trains will be able to arrive at and depart from 4 stations in the Moscow region – Silikatnaya, Khovrino, Selyatino, and Bely Rast. Intermodal transport chain The first train loaded with 95 containers arrived at the Bely Rast stat...

ZIM Integrated Shipping Services Ltd., and Seaspan Corporation, a wholly-owned subsidiary of Atlas Corp, announce a strategic agreement for the long-term charter of ten 15,000 TEU liquefied natural gas (LNG) dual-fuel container vessels, to serve ZIM's Asia - US East Coast trade. ZIM is a player in this growing trade with an estimated market share of 9% according to market intelligence provider, PIERS. Growing market demand Eli Glickman, ZIM President & CEO, stated: "This is a milestone ag...

On the evening of February 7, 2021, CULINES’ first ad-hoc voyage extra-sailing container ship under the China-Europe service – M/V LAILA departed from the Yantian International Container Terminals with a full load, heading for the ports of Rotterdam and Hamburg. CULINES always see it as a top priority to assist customers in completing transportation tasks. So this ad-hoc service additional vessel deployed for the Spring Festival is an attempt by CULINES to address the shipping capac...

2020 has been another year of solid progress for A.P. Moller - Maersk., both in terms of financial performance and in transforming the company. Despite low volumes during most of 2020, profitability grew throughout the first nine months and ended the year with record Q4 results in Logistics and Terminals, while Ocean delivered an exceptional quarter driven by the increased volumes and current, temporary supply chain disruptions. Accelerated transformation “2020 will forever be remembere...

SBM Offshore is pleased to announce the successful pricing of a US$850 million non-recourse senior secured notes transaction in a 144A/Reg S offering by a subsidiary company. The issuer of the notes is Guara Norte S.à r.l. (Guara Norte), which owns the FPSO Cidade de Ilhabela. SBM Offshore owns 75% of the equity in Guara Norte and the remaining 25% equity is held by Mitsubishi Corporation. Transaction details The notes are rated Ba1 (Moody’s) and BB+ (Fitch) and were priced at 99...

FESCO Transportation Group has sent the first container train loaded with cars from the city of Chongqing (China) to the Bely Rast Terminal and Logistics Center via Mongolia. The route goes through the border checkpoints of Erlian/Zamyn-Uud/Naushki. Transport volume FESCO has experience in transporting containerised imported cars and semi-knocked-down kits The first train consisting of fifty 40FT containers loaded with 150 cars arrived at the Bely Rast Terminal and Logistics Center (a joint v...

Globally renowned ferry company - Stena Line plans to start operating two fossil-free battery powered vessels on the route between Gothenburg and Frederikshavn in Denmark, no later than in 2030. This was announced by Stena Lines’ Chief Executive Officer (CEO) - Niclas Mårtensson, during a press conference about the industry collaboration project - Tranzero Initiative, in Gothenburg, on Thursday, 4 February, 2022. Tranzero Initiative collaboration project The aim is to cut emission...

In order to provide a more comprehensive service coverage to USWC, Wan Hai Lines is pleased to announce its plan to launch four weekly services from Asia to USWC.  These services are revamped from Wan Hai’s existing service structure, so as to meet their strong customer requirements. Port rotation Port rotation of the services are as following: AA1: Shanghai－Ningbo－Los Angeles－Shanghai AA2: Kaohsiung－Yantian－Long Beach－Yantian－Kaohsiung AA3: Haiphong－Cai Mep－Hong Kong...

The relationship between VSTEP and ROC Kop van Noord-Holland continues to flourish, as ROC Kop van Noord-Holland signed a new deal to upgrade their maritime simulators to NAUTIS 3. ROC Kop van Noord Holland is one of the training institutes of the Netherlands that offers vocational training to thousands of students and participants each year. Their maritime training center has signed a deal with VSTEP to upgrade their existing NAUTIS 2 maritime simulators to NAUTIS 3. Including software upgrad...

CULines signed a contract for the building of 2+2 1900 TEU container vessels with CSSC Huangpu Wenchong and held the signing ceremony at the Nansha factory of CSSC Huangpu Wenchong. Deputy Director Pan Yuzhang of the Administrative Committee of the Guangzhou Nansha Economic and Technological Development Zone, Deputy General Manager Song Xiaoming of Guangzhou Port Group, Chief Operating Officer Wang Jianmin of Port and Shipping of Administrative Committee of Hainan Yangpu Economic Development Zo...

On 26 January 2021, the icebreaker of FESCO Transportation Group ('FESCO') - 'Vasiliy Golovnin' departed from the port of Cape Town (South Africa) to Antarctica, carrying supplies for the Indian research stations. The expedition will be completed at the beginning of May 2021. Cargo transported to Antarctica In Cape Town, South Africa,  the vessel was loaded with 1138 tons of various cargo including equipment, fuel and food. The vessel will also transport 50 Indian researchers to the Indi...

After its last order of 8 container ships from Japan Marine United Corporation (JMU), back in November 2018, Wan Hai Lines again contracted twelve new-build 3,013 TEU ships with JMU/Nihon Shipyard Co Ltd. (NSY). This new series of vessels are expected to be delivered successively from the end of October 2022. As part of Wan Hai’s continuous efforts on providing quality shipping service to its customers, the most advanced design specifications will be employed to ensure higher energy effic...

OCIMF has joined the World Association for Waterborne Transport Infrastructure’s (PIANC) Maritime Navigation Commission Working Group (MarCom WG) in revising Report No. 212 Criteria for Acceptable Movement of Ships at Berths (Update of MarCom WG24). OCIMF Marine Structures and Civil Engineering (MSCE) members regularly participate in PIANC to provide operational, inspection, and maintenance expertise, especially when external guidance could potentially impact the oil and gas sector, membe...

To further ease the tension that existing vessels are not enough to satisfy the needs of customers, CULINES announced that the first ad-hoc container vessel under the China-Europe service deployed for the Spring Festival would make its maiden service on February 6. Called at various ports In the maiden service to Europe, the CULINES’ ad-hoc container vessel for the Spring Festival will call at the ports of Rotterdam and Hamburg, the biggest ports in Europe. Besides, the vessel will call...

WSM joins other fourteen members spanning the shipping value chain: ABN Amro, Bunge, Forum for the Future, IMC Industrial Group, Lloyd’s Register, Louis Dreyfus Company, Maersk, Oldendorff Carriers, Priya Blue, RightShip, The China Navigation Company, South32, Standard Chartered Bank, and WWF. SSI brings together like-minded, organizations with shared goals and determination to improve the shipping industry. Members, ranging from shipowners and charterers, to environmental NGOs, banks,...

NORMA Cyber was formally opened on 1 January 2021. The centre will provide cyber security services to Norwegian shipping companies and several ship owners, who have already become members of NORMA Cyber. “We have experienced great interest from the shipping and maritime industries, and the ambition is to give Norwegian shipping an international competitive advantage, as digitalisation in shipping picks up speed,” said Lars Benjamin Vold, Managing Director of NORMA Cyber. Maritime c...

Indonesian Minister of Agriculture, Dr. Syahrul Yasin Limpo, SH., M.Sc., M.H through his staff inaugurated the first cashew export release event on January 14, 2021 using the SPIL ship. This cashew cargo from North Buton will be exported to Vietnam, the stuffing process will be carried out on January 11, 2021 at the Bungkutoko Depot by SPIL TOLL INDONESIA. SPIL holds pride Usman hopes that in the future SPIL can continue to be involved in other programs planned by the government Through the...

SITC International and Yangzijiang Shipbuilding held a ceremony for the naming and delivery of the new ship - ‘SITC Singapore’. Mr. Xue Mingyuan, Executive Director of SITC International, President of SITC Shipping Group, Mr. Xiao Senyuan, Vice President of SITC Shipping Group, Mr. Ren Letian, Chairman of Yangzijiang Shipbuilding Group, Mr. Wan Jian, President of Jiangsu Maritime Vocational and Technical College, Ritong International Logistics East Asia Mr. Xing Fangliang, the head...

The Ocean Cleanup’s mission is to develop advanced technologies to rid the world’s oceans of plastic. To achieve this goal, the organisation aims to stop the inflow via rivers and clean up what has already accumulated in the ocean. Its ultimate goal is to reach a 90% reduction of floating ocean plastic by 2040. Oceans healthy environment “As a responsible maritime operator, we are committed to ensuring that the oceans can remain a healthy environment for generations to come.&...

Neste and Avfuel Corporation announce a strategic partnership to create an efficient, continuous supply of sustainable aviation fuel (SAF) in the United States. Neste will provide Avfuel with SAF in volumes able to meet the growing demands of Avfuel’s customers, including fixed base operators (FBOs), airports, flight departments, original equipment manufacturers (OEMs), and commercial operators. Avfuel will be a branded SAF distributor for Neste, and will sell it under the brand name Nest...

China United Lines Ltd. (CULines), through its logistics investment division, CULines International Shipping Agency Co., Ltd. Guangzhou Branch – has reached in-depth partnership with PUTBOX, a leading Internet platform for the road transportation of containers in China, and completed strategic investment in the latter. The two sides aim to jointly build up an industrial Internet platform and develop the financial transaction market for the container truck industry in the Greater Bay Area,...

Furnipart and Blue Water have just extended and expanded their cooperation covering transport from the Far East to the company’s domicile in Hinnerup, Denmark. The new agreement entails that Furnipart’s transport will change from sea freight to rail transport in the future. Rail transport Rail transport brings several advantages to Furnipart. The duration of the transport of 15,000 kilometres will be shortened by approx. 14 days, and this means that their design handles and knobs...

Wan Hai Lines will expand further on its already extensive intra-Asia network by launching a new weekly service between East China – Taiwan and Ho Chi Minh(CV7). The service will be operated by two container vessels with a capacity of 650 TEU. Rotation service Port rotation of the service is as follows: Shanghai－Kaohsiung－Ho Chi Minh－Shanghai The first voyage is scheduled from Shanghai on Jan 12th, 2021. The CV7 service which connects Shanghai - Kaohsiung and Ho Chi Minh directl...

The fourth edition of the industry cyber risk management guidelines, Guidelines on Cyber Security Onboard Ships is now available and lays the foundation for further improvements and refinement of companies’ cyber security risk assessments. The version 4 of the cyber security guidelines is published at a time when ship owners and ship managers are faced with a requirement to implement cyber risk management in their safety management systems (SMS) by the time of their first Document of Comp...

To further reinforce its regional development strategy, Yang Ming Marine Transport Corporation (herein-after referred to as Yang Ming) sets up a new subsidiary with NAXCO Group in France, named Yang Ming (France) S.A.S. (herein-after referred to as Yang Ming (France)), which officially began operating on 1st January 2021. The subsidiary aims at assisting Yang Ming to develop the local market and integrate regional resources. Weekly service routes Yang Ming will establish a presence in the Fre...

In response to surging US imports and the resulting intermodal equipment flow imbalances, all members of the logistics sector have been challenged to find solutions. Maersk senior officials have stated that this is a situation the company takes very seriously. Every component of Maersk’s integrated global logistics business model is working across the entire logistics spectrum to respond with solutions involving all supply chain participants. Maersk is taking steps to address the concern...

CULINES is celebrating the successful maiden voyage of its new South China-Vietnam service (SV2). The SV2 is the fourth liner route operated by them in Vietnam, as well as another important step to strengthen presence in the Vietnamese market, and connect the Guangdong-Hong Kong-Macao Greater Bay Area and the China-Vietnam supply chains. Port Rotation of SV2 Haiphong (3/3) – Nansha (6/6) – Shekou (7/7) – Haiphong (3/3)