With Germany's Thyssenkrupp

Israel signs $3.4 bln submarines deal

Germany's Thyssenkrupp Marine Systems will build three advanced submarines for the Israeli Navy in a deal worth three billion euros ($3.4 billion), the Israeli Defense Ministry said on Thursday. The parties also signed an industrial strategic cooperation agreement that amounts to more than 850 million euros, the ministry said."

After first filing for bankruptcy in Germany

Cruise operator Genting Hong Kong asks Court of Bermuda to wind up company

Hong Kong - After first filing for bankruptcy for its cruise shipyards in Germany - MV Werften and Lloyd Werft - Genting Hong Kong has also asked the Supreme Court of Bermuda to wind up the parent company and put it in the hands of liquidators. In a statement, the company says it will run out of cash by the end of January at the latest

Fincantieri

“Viking Neptune” floated out in Ancona

Ancona – “Viking Neptune ”, the newest ocean cruise ship which Fincantieri is building for the shipowner Viking, has been floated out at the shipyard in Ancona . The unit will be placed in the small cruise ship segment. As its sister ships, she is about 47,800 tons, 465 cabins with accommodation for 930 passengers

As funding dries up

Genting Hong Kong looks to liquidation

Hong Kong - Troubled cruise operator Genting Hong Kong warned it may seek court assistance to safeguard its assets, after failing to secure funding to help it stay afloat following the insolvency of its German shipbuilding subsidiary, Bloomberg reports

After EU veto

DSME in search for new owner as tie-up with Hyundai Heavy fails

Seoul - Daewoo Shipbuilding & Marine Engineering is in search of a new owner again after a merger plan with its larger rival Hyundai Heavy Industries failed due to an EU veto on monopoly concerns. The European Commission announced Thursday its prohibition for the merger

Value: $43 million

DIS inks first sustainability-linked loan

Rome - DIS, or d'Amico International Shipping, a marine transportation company, has signed a contract for its first sustainability-linked loan as part of the refinancing of all debt maturing in 2022. Specifically, the company’s subsidiary d’Amico Tankers signed a $43 million five-year term loan facility with ABN Amro Bank to refinance the bank loans maturing in 2022 on "MT Cielo di Ulsan", "MT Cielo di Hanoi" and "MT Cielo di Gaeta"

New record

Big Three Korean shipbuilders win largest orders in eight years

Seoul - South Korea's three major shipbuilders in 2021 have received their largest amount of orders in eight years, surpassing their targets by 45%, according to the industry sources on Dec. 31. The Big Three bagged a combined $45.9 billion worth of orders this year

At world's biggest gambling hub

Macau casinos to stop junkets

Hong Kong - Macau's gaming regulator has ordered junket operators in the world's largest gambling hub to stop offering credit to customers, according to brokerage firm Bernstein. Macau's Gaming Inspection and Co-ordination Bureau (DICJ) has ordered the operators, who bring big-spending clients from mainland China to VIP rooms in Macau casinos, often with loans to gamble with, to stop offering credit

For next year

Croatia's tourism sector short of one-third of workforce

Zagreb - Croatia's tourist facilities face a shortage of up to one-third of their workforce next year, head of the national association of biggest tourist firms Veljko Ostojic said on Friday. Croatia's tourist industry, largely focused on the summer months on the popular Adriatic coast, accounts to almost 20% of the country's gross domestic product (GDP) and many seasonal workers can earn more in other countries

Analysis

Dry bulk market looking for a clear direction

Athens - The dry bulk market is looking for a steady course of late, as volatility seems to have established itself as the main trend. In its latest weekly report, shipbroker Allied Shipbroking said that “it is rather difficult to describe the current situation in the dry bulk sector, given the disarray that has been noted in the freight market during the past few weeks or so

Amid expansion plans

Qatar orders six LNG ships from Korean shipyards

Doha - QatarEnergy has ordered six LNG ships from two South Korean shipyards, the first batch under a 2020 agreement, as the Gulf state seeks to meet requirements for its North Field expansion plans

Genoa

Superyachts' S&P, SCS presents Villa Yachting

Genoa - SCS Yachting, the Genoese shipping agency headed by two sisters Michela and Carolina Villa, respectively broker and maritime agent, presents Villa Yachting, the new division for the purchase and sale of superyachts at international level. The brand was launched in Genoa during the occasion of Shipping Week

ships visited for you

Viking Venus, technical data and performances

The Viking units are all built according to the latest navigation regulations and equipped with the most modern safety systems, including the “safe return to port”

cruises

Life on board the MSC Yacht Club, between luxury and discretion

The Yacht Club is a real ship within a ship. Concierge available 24 hours a day, private butler, possibility to have lunch and dinner by choosing the time, priority access to theater shows, but also restaurants, elevators and private bars, as well as swimming pools and Jacuzzis.

New headquarter in Casablanca

Hapag-Lloyd brings competition to bustling Moroccan port

Tanger - The German Shipping line Hapag-Lloyd has announced it will set up a permanent base of operation in Morocco in a move to expand its global network. With additional personnel and new offices in the country, the company hopes to realize its growth ambitions

Innovation

Daewoo Shipbuilding develops carbon dioxide storage technology

Seoul - Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has developed a technology to store carbon dioxide captured in ship engine emissions. The technology developed in cooperation with a local ship part supplier will help ships to reduce their carbon dioxide emissions

Iran

"Renovation of shipping fleet a necessity for Iranian maritime trade"

Tehran - The Secretary of the Iranian Merchant Mariners Syndicate (IMMS) Saman Rezaei has said buying new ships and the renovation of the country’s existing maritime fleet is an important necessity for developing the maritime trade. “Older ships have higher depreciation and maintenance costs and lower safety” the portal of the Ports and Maritime Organization (PMO) quoted Rezaei as saying.

Bangladesh

Chittagong gets marine technology institute for first time

Chittagong - The Institute of Marine Technology (IMT) is going to be established in Chittagong for the first time here to develop skilled manpower for the shipbuilding industry. All are set to construct IMT on the bank of Karnafuli River, adjacent to Kalpalok residential area at Bakalia police station in the city. Land acquisition has already been completed in this regard

coronavirus

The invisible seafarers of Covid for revival of the economy

The current risk is that the situation could deteriorate again, with the increasing spread of the variants of Covid-19. The seafarers are raising the white flag, they are legitimately exhausted, in these conditions many refuse to board and many are seeking alternative employment

shipowners

Ever Given container ship leaves Egyptian waters

The ship was released on July 7 after protracted negotiations and an undisclosed settlement was reached between the Suez Canal Authority (SCA) and the Ever Given's owners and insurers.

Says Stann Marine

Agreement in principle reached over Suez Canal ship

Ismaila - A representative for the owners and insurers of a giant cargo ship that blocked the Suez Canal in March on Wednesday said that an agreement in principle had been reached in a compensation dispute with the canal authority. Work was under way to finalise a signed settlement agreement as soon as possible and arrangements for the release of the "Ever Given" vessel would be made after formalities had been dealt with

Vaccination surge encourages sector

Russians' return boosts Turkish tourism prospects

Istanbul - Thousands of Russian tourists began arriving in Turkey on Tuesday, boosting hopes for its tourism sector after a two-month suspension in flights imposed by Moscow due to concerns about a surge in COVID-19 cases in April

To be completed and get ready for the open sea

"Leonardo da Vinci" reaches Norway to be completed

Tulcea - After being towed from Vard’s shipyard in Tulcea, Romania, across the Black sea, the Mediterranean Sea, then along the ocean shores of Portugal, Spain and France up to Scandinavia, Prysmian Group’s cutting-edge cable-laying vessel reached Brattvåg, Norway

Over summer

EU countries clear plan to ease cross-border tourism

Brussels - European Union countries agreed on Friday to an easing of travel restrictions over summer that will allow fully vaccinated tourists to avoid tests or quarantines and broaden the list of EU regions from which it is safe to travel. Ambassadors from the 27 EU member states approved a modified European Commission proposal that people who have been fully vaccinated for 14 days should be able to travel freely from one EU country to another

the incident

One crew feared dead after Japanese cargo ship collision

The Japanese coast guard was not immediately reachable by phone on Sunday. Japan's Transport Safety Board is conducting an investigation on board the chemical tanker, identified as the Ulsan Pioneer, which remained near the accident site

tourism

Spain to welcome back international cruises from June 7

"Shipping companies will have to comply with measures established by the health ministry... to guarantee total security, both for cruise passengers and for the cities where they land," the transport ministry tweeted on Saturday.

In Italy

Venice cruise ship ban passed

Rome - The Italian Lower House on Wednesday gave definitive approval to a decree banning cruise ships from mooring in Venice. The decree was passed by 370 votes to 16 with 29 abstentions. Cruise ships have been stopped from landing in the centre of Venice

"Marco Polo"

CMA CGM vessel will set seven records on Atlantic seaboard

Marseille - For the second time in less than a year, a containership operated by CMA CGM will set size records as the largest boxship to call at ports along the Atlantic Seaboard. The 16,022 TEU CMA CGM "Marco Polo" will set a total of seven North American big ship records in 11 days. The 1,300-foot long boxship is currently crossing the Atlantic due to make its first North American call in Halifax on May 17

Amid pandemic

Spectre of another lost tourism season haunts emerging markets

London - Fresh outbreaks of COVID-19 and travel curbs are deterring tourists from flocking back to Thailand's beaches and Turkey's bazaars, stalling a recovery in tourism, a crucial source of foreign currency and a large employer for many emerging markets. Global tourism suffered its worst year ever in 2020

No forecast for 2021

ONE profits soar to US$3.5b from $105m in 2019

Tokyo - Japanese container line headquartered in Singapore ONE has reported a US$3.5 billion profit for 2020 - an astonishing leap from the $105 million profit declared for 2019. The earnings surge came on the back of a 21 per cent increase in annual revenue

After Q1 results

Maersk expects tailwind to last amid high demand for containers

Copenhagen - Denmark's Maersk said on Wednesday it expected its "exceptionally strong" performance in the first quarter to continue for the rest of the year, driven by high demand for shipping containers from China to the United States. Maersk, which handles about one in five containers shipped worldwide, said there were not enough ships available in the world to meet a surge in consumer demand

First ship on schedule: "MSC Seaside"

Global Ports Holding awarded Taranto cruise port

Taranto - Global Ports Holding, the largest independent terminal operator cruises globally, is now the new concessionaire for traffic support and support services port cruises of Taranto. The international holding will act through the subsidiaries Port Operation Holding and Global Ports Melita. Taranto Cruise Port will have in concession, for the next 20 years, a part of the maritime state-owned areas and assets located on the San Cataldo pier

The Japanese company

”K” Line enters offshore wind market

Tokyo - Japanese shipping company Kawasaki Kisen Kaisha ("K" Line), and its domestic subsidiary Kawasaki Kinkai Kisen Kaisha have agreed to establish a joint venture company to provide services within the offshore wind industry. The new joint venture company, “K” Line Wind Service, will provide offshore support vessels and marine-related services to the industry

As COVID crisis dampens demand

LNG cargoes diverted from India

Singpore - Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases there hamper domestic gas demand, trade and shipping sources said on Monday. Six LNG tankers diverted away from India since April 20

markets

China a big buyer of new French wheat crop, traders say

Some sources estimated the volume at 500,000 to 600,000 tonnes, or up to around 10 large panamax vessels, mainly for August. Others pegged total sales higher, at around 1 million tonnes, suggesting France could load up to about 15 panamaxes this summer

markets

Iron ore and China steel output aren’t sticking to the script

The high price of iron ore, as well as strength in China’s domestic steel prices and profit margins for mills, has prompted some official concern. Beijing’s industry ministry went so far as to say on April 20 that it would take steps to stabilize raw material prices.

defence minister

Israel pledges to work with U.S. on Iran

"Our bilateral relationship with Israel in particular is central to regional stability and security in the Middle East. During our meeting I reaffirmed to Minister Gantz our commitment to Israel is enduring and it is ironclad," Austin said

Egypt

Suez Canal may expand southern channel, chairman says

The 400-metre-long (1,310 ft) Ever Given became grounded diagonally across the southern section of the canal during high winds on March 23. It remained stuck for six days, preventing hundreds of ships from passing and significantly impacting global trade flows.

Maritime news

Iran says its ship Saviz was attacked in Red Sea

"The explosion occurred on Tuesday morning near the Djibouti coast and caused minor damage with no casualties. The vessel was a civilian ship stationed there to secure the region against pirates," Foreign Ministry spokesman Saeed Khatibzadeh said.