Maritime News from gCaptain.com

Self-Igniting Charcoal ID’d as Source of Two Containership Fires

News from gCaptain - Tue, 06/12/2018 - 13:53
Investigators in Germany are calling on the International Maritime Organization to update regulations related to the carriage of charcoal cargoes in containers after separate fires on board two containerships. In both cases, the self-ignition of charcoal cargoes was found to be the source of the fires. The fires broke out on board the Panamanian-flagged MSC […]
Categories: Maritime News

Safety Alert – Bad Bunker Fuel Causing Problems for Vessels on U.S. Gulf Coast

News from gCaptain - Tue, 06/12/2018 - 11:52
Note: Below is a Safety Alert distributed at the request of the U.S. Coast Guard’s Office of Investigations and Analysis following a series of fuel system issues impacting several of vessels which had bunkered in Houston, Texas. One fuel analysis company has even called the problem one of the most widespread fuel quality issues in […]
Categories: Maritime News

Norwegian Parliament Approves $6 Billion Plan for Giant ‘Johan Castberg’ Arctic Oil Field

News from gCaptain - Tue, 06/12/2018 - 10:50
The Norwegian Parliament has approved Equinor’s development and operation plan for the giant Johan Castberg field located in the Barents Sea within the Arctic Circle. The plan now heads to Norway’s Ministry of Petroleum and Energy for formal approval. The Johan Castberg field, with estimated recoverable resources of 450-650 million boe (barrels of oil equivalent), is […]
Categories: Maritime News

ICS: Shipping Industry ‘Deeply Concerned’ About New Italian Policy on Migrants Rescued at Sea

News from gCaptain - Tue, 06/12/2018 - 09:23
The International Chamber of Shipping (ICS) says the shipping industry is ‘deeply concerned’ about the apparent new policy of the Italian government to close its ports to humanitarian migrant rescue vessels operating in the Mediterranean Sea. The strong statement from the ICS comes after Italy (and Malta) refused port access to the M/V Aquarius with […]
Categories: Maritime News

MOL Boss on 2020 Sulphur Cap: ‘We’re All Going Bust’

News from gCaptain - Tue, 06/12/2018 - 08:44
By Mike Wackett (The Loadstar) – Less than 18 months before the IMO’s 0.5% sulphur cap regulations come into force for merchant shipping, container lines are worried that the estimated $50bn extra cost of the greener fuel could tip them into bankruptcy. “We’re all going to go bust,” MOL’s president and chief executive Junichiro Ikeda […]
Categories: Maritime News

US Merchant Marine Veterans Of WW2 Have Waited 75 Years And Counting

News from gCaptain - Tue, 06/12/2018 - 00:14
A CASE TO SUPPORT American Merchant Marine Veterans Legislature H.R. 5879 & S. 2127 By Capt. Christopher J. Edyvean (AMMV) 75 years is an enormous amount of time to fathom for most of us. Isn’t ‘seven-plus decades ago’ a time spoken of only by historians and in documentaries? Very few adults who walked Mother Earth then […]
Categories: Maritime News

Australia, Paris MoU Ban Cargo Ships Following Port State Control Detentions

News from gCaptain - Mon, 06/11/2018 - 16:21
The Australian Maritime Safety Authority (AMSA) has banned the Philippines-flagged cargo ship Thorco Luna after it was detained by port state control inspectors for the third time this year for consistently failing to meet international standards. The ship was released from its latest detention at Port Kembla last Friday, 8 June 2018, and will not […]
Categories: Maritime News

LNG Trade Grows 10 Percent in 2017 as U.S. and Australia Boost Exports

News from gCaptain - Mon, 06/11/2018 - 15:01
June 11 (Reuters) – Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in the Australia and the United States, the U.S. Energy Information Administration (EIA) said on Monday. LNG trade reached 38.2 billion cubic feet per day (bcfd) in 2017, up 3.5 bcfd from 2016 […]
Categories: Maritime News

Bunker Supplier Aegean Marine Hit with Class Action Lawsuit Over $200 Million Write-Off

News from gCaptain - Mon, 06/11/2018 - 14:35
International bunker fuel supplier Aegean Marine Petroleum Network Inc. (NYSE: ANW) has been hit with a class action lawsuit alleging that the company and some its executives violated federal securities laws by failing to disclose material information related to the $200 million accounts receivable write-off revealed by the company last week. The class-action lawsuit against […]
Categories: Maritime News

Metal Shark Acquires Horizon Shipbuilding’s 35-Acre Alabama Shipyard

News from gCaptain - Mon, 06/11/2018 - 12:48
Louisiana-based shipbuilder Metal Shark has acquired the assets of Alabama-based Horizon Shipbuilding following a motion approved earlier this month by the U.S. Bankruptcy Court Southern District of Alabama. With the acquisition, Metal Shark assumes ownership of the fully developed 35-acre shipbuilding facility in the Mobile Bay region, with separate east and west yards both fronting […]
Categories: Maritime News

ITF: Panama Canal Management to Further Reduce Crew Size on Panama Canal Tugs

News from gCaptain - Mon, 06/11/2018 - 12:06
The Panama Canal Authority (ACP) plans to further reduce the number of crew available to Panama Canal tugboats during the transit of vessels in the new Neopanamax locks beginning in July, the International Transport Workers’ Federation (ITF) said in an emailed statement opposing the new policy. In their statement, the ITF said it was made […]
Categories: Maritime News

Italy Cries ‘Victory’ as Spain Opens Port to Rescued Migrants

News from gCaptain - Mon, 06/11/2018 - 11:07
By Steve Scherer and Isla Binnie ROME/MADRID, June 11 (Reuters) – Spain offered on Monday to take in a humanitarian ship stranded in international waters with 629 migrants aboard, prompting Italy’s new anti-establishment government to claim victory in its bid to get European partners to help more on immigration. Italy and Malta had both refused […]
Categories: Maritime News

Shell’s Massive Prelude FLNG Goes ‘Live’ Off Western Australia

News from gCaptain - Mon, 06/11/2018 - 10:36
Royal Dutch Shell’s massive Prelude floating liquefied natural gas platform has gone ‘live’ off the coast of Australia after taking on board its first gas. The LNG was imported by the LNG carrier Gallina, arriving from Singapore, marking what was also Prelude’s first ship-to-ship (STS) transfer. The loaded LNG will give Shell the opportunity to […]
Categories: Maritime News

Shipping’s 2020 Low Sulphur Fuel Regulation to Hit Airlines

News from gCaptain - Mon, 06/11/2018 - 08:57
By Alex Longley and Benjamin Katz (Bloomberg) — From the window of a jet plane, it can be hard to see ships crawling across the seas. Yet what’s burning in those engines thousands of feet below may determine the fate of airline profits in the next few years. In about 18 months’ time, the world’s oil refineries […]
Categories: Maritime News

Hapag-Lloyd Scaling Back Iran Business

News from gCaptain - Mon, 06/11/2018 - 08:02
FRANKFURT, June 11 (Reuters) – German shipping line Hapag-Lloyd has stopped one of two feeder services to Iran and will decide on the remaining one before a Nov. 4 deadline imposed by the United States, which has reimposed sanctions on Tehran. Hamburg-based Hapag-Lloyd, the world’s fifth largest container company, said it had initiated a process […]
Categories: Maritime News

Inmarsat Soars After Satellite Company Rejects EchoStar Bid

News from gCaptain - Mon, 06/11/2018 - 07:31
By Kim Robert McLaughlin (Bloomberg) — Inmarsat Plc rose as much as 12 percent after the British satellite company last week said it had rebuffed a takeover proposal from EchoStar Corp. A “highly preliminary” offer was turned down by the board after discussions with its advisers, Inmarsat said in a statement on Friday. “It very […]
Categories: Maritime News

What Can Merchant Mariners Learn From Volvo Ocean Race Sailors?

News from gCaptain - Sun, 06/10/2018 - 13:35
Last month gCaptain was invited by John Mangano, Key Account Manager – Coastal & Navy for International Paint, to Newport, Rhode Island to board the Volvo Ocean Race 65 boat and meet the crew of Team AkzoNobel.   While there, I sat down for an interview with watch captain Chris Nicholson and boat captain Nikolai Sehested […]
Categories: Maritime News

China’s Naval Master Plan: A Military Threat In The Pacific And Beyond

News from gCaptain - Sun, 06/10/2018 - 13:27
(This is the first in a series of columns Bloomberg is publishing on China’s effort to supplant the U.S. as the world’s pre-eminent geopolitical power.) by Hal Brands (Bloomberg) I wrote a column recently about how a longstanding assumption of America’s China policy — that economic integration between the two countries is an unalloyed good — […]
Categories: Maritime News

John Fredriksen-Run Hedge Fund Making Millions on Oil’s Recovery

News from gCaptain - Sun, 06/10/2018 - 13:20
  By Mikael Holter (Bloomberg) — A hedge fund run by a former associate of billionaire John Fredriksen has gained 69 percent in two years betting on shunned oil-related assets — and it’s not nearly done exploiting the recovery. The Titan Opportunities Fund, which now manages about $100 million, started investing in June 2016 after a collapse […]
Categories: Maritime News

Italy Shuts Ports to Humanitarian Boat Carrying Hundreds of Migrants

News from gCaptain - Sun, 06/10/2018 - 12:39
By Crispian Balmer ROME, June 10 (Reuters) – Italy will refuse to let a humanitarian ship carrying more than 600 migrants dock at its ports and has asked the Mediterranean island of Malta to open its doors to the vessel, government officials said on Sunday. Malta brushed off the request, saying it had nothing to do […]
Categories: Maritime News
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