Maritime News from gCaptain.com

Italy Uncovers Massive Load of Hash in Ship’s Fuel Tanks

News from gCaptain - Thu, 08/09/2018 - 10:47
ROME, Aug 9 (Reuters) – Italian police said on Thursday they found 20 tonnes of hash worth as much as 200 million euros ($232 million) in the fuel tanks of a Panama-flagged ship that was stopped in international waters and escorted to Sicily. The entire 11-person crew, all from Montenegro, was arrested for international drugs […]
Categories: Maritime News

Big Spike in Containership Lay-Ups Mid-Peak Season a Worry for Owners

News from gCaptain - Thu, 08/09/2018 - 10:12
By Mike Wackett (The Loadstar) – Alphaliner’s bellwether containership idle tonnage data has recorded a big spike in vessels being consigned to lay-up, shifting the supply-demand balance back in favour of the charterer. The consultant said the capacity of the idle tonnage fleet had risen to 341,000 teu by the end of July, representing 1.6% of […]
Categories: Maritime News

EU Touts U.S. LNG Imports to Woo Trump on Trade

News from gCaptain - Thu, 08/09/2018 - 09:38
BRUSSELS, Aug 9 (Reuters) – The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive. In talks to urge Trump to drop hefty new tariffs last month, the […]
Categories: Maritime News

Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform

News from gCaptain - Thu, 08/09/2018 - 09:07
COPENHAGEN, Aug 9 (Reuters) – Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping. The industry has seen little innovation since the container was invented in the 1950s, and cross-border […]
Categories: Maritime News

Bouchard Transportation Lawsuit: Safety Record Not Relevant in Deadly Barge Explosion Investigation

News from gCaptain - Wed, 08/08/2018 - 14:35
Bouchard Transportation of Melville, New York, wants the Coast Guard’s investigation limited to the loaded oil barge which exploded in 2017 off the coast of Texas, killing two deckhands. But the Coast Guard took testimony about the recent history of maintenance and safety issues of the company’s fleet, calling the evidence relevant to its analysis […]
Categories: Maritime News

Two Rescued After Yacht Collides with Cargo Ship in English Channel

News from gCaptain - Wed, 08/08/2018 - 12:51
Two yachtsmen had to be rescued early Wednesday morning after their vessel collided with a cargo ship in the English Channel off Dungeness, Kent. The HM Coastguard reports that it received a MAYDAY call from the yacht following the collision which happened just after 4:10 a.m. on Wednesday. Dungeness RNLI lifeboat rescued the two from the […]
Categories: Maritime News

DP World Acquires European Logistics Firm Unifeeder for 660 Million Euros

News from gCaptain - Wed, 08/08/2018 - 10:39
Some big news this week from one of the world’s top port operators and self-proclaimed global trade enabler. On Tuesday, Dubai-based DP World announced plan to acquire 100% of Unifeeder, the largest container feeder and growing shortsea network operator in Europe, for 660 million euros. DP World said the acquisition from Nordic Capital Fund VIII […]
Categories: Maritime News

Iran Forced to Rely on Own Tanker Fleet Even as Oil Exports Fall

News from gCaptain - Wed, 08/08/2018 - 08:41
By Julian Lee (Bloomberg) — It is still nearly three months until U.S. sanctions on Iran’s oil exports snap back into force, but they are already having a big impact on the Persian Gulf country’s trade. The nation’s outflow has fallen, and Iran is having to rely more on its own fleet of tankers to carry oil […]
Categories: Maritime News

PetroChina, Qatar Holding Advanced Talks on LNG Supply Deals, Sources Say

News from gCaptain - Wed, 08/08/2018 - 08:33
By Chen Aizhu and Meng Meng BEIJING, Aug 8 (Reuters) – PetroChina Ltd is in advanced discussions with Qatar to purchase liquefied natural gas (LNG) under short- and long-term agreements, three sources with knowledge of the talks said on Wednesday. China needs to secure LNG to supply its push to replace coal with cleaner burning natural […]
Categories: Maritime News

Asleep at the Wheel: Fatigue Led to Capsize of Fishing Boat and $27,200 Fine

News from gCaptain - Tue, 08/07/2018 - 13:53
The vessel ran aground January 11, 2018 after the 17-year-old helmsman fell asleep at the wheel. Crew fatigue led to the grounding and loss of commercial fishing vessel Jan and its owner, Wild Fish (NZ) Limited, being fined $27,200 following prosecution by Maritime NZ. Maritime NZ Northern Regional Manager, Neil Rowarth, said the sole helmsman […]
Categories: Maritime News

Maersk Shares Rise as Market Sees Silver-Lined Profit Warning

News from gCaptain - Tue, 08/07/2018 - 13:44
By Christian Wienberg (Bloomberg) — Shares in A.P Moller-Maersk A/S rose as much as 6.9 percent, the most since December 2016, after the world’s largest container line said freight rates had recovered from their drop in the second quarter. The Copenhagen-based company made the comments as it lowered its full-year outlook, a move the market […]
Categories: Maritime News

Venezuela Dodges Oil Asset Seizures with Export Transfers at Sea

News from gCaptain - Tue, 08/07/2018 - 13:40
By Marianna Parraga and Mircely Guanipa HOUSTON/PUNTO FIJO, Aug 7 (Reuters) – Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But the OPEC member nation is still fulfilling less than […]
Categories: Maritime News

U.K. MAIB Investigating Collision Between Containership and LPG Tanker Off Gibraltar

News from gCaptain - Tue, 08/07/2018 - 13:36
The U.K. Marine Accident Investigation Branch has launched an investigation into a collision between the UK registered container ship ANL Wyong and an Italian registered LPG tanker off the coast of Gibraltar on Saturday. The occurred approximately 4 miles south east of Gibraltar. Both vessels suffered damage in the collision but no pollution or injuries […]
Categories: Maritime News

Tariffs Causing Problems for America’s Recreational Boat-Building Industry

News from gCaptain - Tue, 08/07/2018 - 13:25
By Reade Pickert (Bloomberg) — They’re Donald Trump’s kind of business. They dominate the domestic market, rack up a trade surplus by selling to foreigners, and do a lot of their manufacturing in states that voted for him. But America’s recreational boat-builders are getting caught up in the president’s trade war. With every escalation, they’ve […]
Categories: Maritime News

NTSB Releases Preliminary Report on Fatal Duck Boat Sinking on Table Rock Lake

News from gCaptain - Tue, 08/07/2018 - 09:40
The National Transportation Safety Board on Tuesday released its preliminary investigation into the sinking of the Stretch Duck 7 on July 19, 2018 in Table Rock Lake near Branson, Missouri with the loss of seventeen lives. The preliminary report comes shortly after the release of the NTSB’s initial review of video recordings recovered from the […]
Categories: Maritime News

Maersk Cuts 2018 Guidance But Still Eyes Market Recovery

News from gCaptain - Tue, 08/07/2018 - 08:22
By Teis Jensen and Jacob Gronholt-Pedersen COPENHAGEN, Aug 7 (Reuters) – A.P. Moller-Maersk cut its 2018 earnings forecast on Tuesday due to higher fuel prices, although the downgrade was smaller than some analysts had feared, prompting shares in the world’s biggest container shipping company to rise. The container shipping industry has suffered from low freight […]
Categories: Maritime News

Damen Marine Components to supply Chilean Navy for ANTARCTIC I project

News from gCaptain - Tue, 08/07/2018 - 06:42
Press Release – Damen Marine Components has won a contract to supply steering gear, rudders and stern tube parts for an Antarctic Research vessel of the Chilean Navy, under LRS -Polar 5 Class notation. The contract was awarded by ASMAR Talcahuano Shipyard, Chile. Design of the vessel was done in collaboration with VARD Canada.  Damen […]
Categories: Maritime News

Gulfmark Offshore Receives Unsolicited Merger Offer from Harvey Gulf, Throwing Wrench in Planned Tidewater Deal

News from gCaptain - Mon, 08/06/2018 - 16:04
Houston-based GulfMark Offshore (NYSE:GLF) today confirmed that it has received a non-binding, unsolicited proposal from competitor Harvey Gulf International Marine to combine the companies in an all-stock merger in which GulfMark would acquire Harvey Gulf. Under the Harvey Gulf proposal, GulfMark stockholders would own 41.2% of the combined company and it would remain publicly listed. […]
Categories: Maritime News

Ship Photos: Historic NYC Fireboat John J Harvey Gets Dazzled

News from gCaptain - Mon, 08/06/2018 - 15:22
Invented during World War I, dazzle camouflage was painted onto thousands of ships in the U.K. and U.S. as a way to disorient enemy U-boats. More than one hundred years later, the pattern is making a comeback with help from one of New York City’s finest historic fireboats, the John J. Harvey. From July through […]
Categories: Maritime News

Colombian Authorities Seize Over a Ton of Cocaine Found on Ship Bound for Europe

News from gCaptain - Mon, 08/06/2018 - 12:56
Colombian authorities have seized more than one ton of cocaine that was discovered inside a container on a ship bound for Europe, the Colombian Navy reported Friday. The drugs were found following a joint-agency raid of the Singapore-flagged ship Cap San Tainaro in the waters off Barranquilla, Colombia shortly after the vessel departed Cartegena, Colombia […]
Categories: Maritime News
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