Maritime News from gCaptain.com

COSCO Shipping’s Takeover of OOCL to Close by End-June, Vice Chairman Says

News from gCaptain - Tue, 04/03/2018 - 09:22

By Brenda Goh SHANGHAI, April 3 (Reuters) – COSCO Shipping’s planned acquisition of Orient Overseas Container Line (OOCL) is on track to be completed by the end of June, the company’s vice chairman Huang Xiaowen said on Tuesday. COSCO is still answering questions from the Committee on Foreign Investment in the United States on the […]

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Categories: Maritime News

Container Line Executives Uneasy as Profits are Consumed by Rising Fuel Costs

News from gCaptain - Tue, 04/03/2018 - 09:18

By Mike Wackett (The Loadstar) – Container spot rates from Asia to Europe and from Asia to the US west coast are around 30% lower than 12 months ago, while fuel costs have jumped over 20%. Most carriers claim it is “too early to say” at what level rates will settle, or begin to recover, but […]

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Categories: Maritime News

China Warns U.S. Not to Open Pandora’s Box, Unleash Trade Ills on World

News from gCaptain - Tue, 04/03/2018 - 08:57

By Se Young Lee and Yawen Chen BEIJING, March 29 (Reuters) – China warned the United States on Thursday not to open Pandora’s Box and spark a flurry of protectionist practices across the globe, even as Beijing pointed to U.S. goods that it could target in a deepening Sino-U.S. trade dispute. China could target a broad […]

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Categories: Maritime News

Indonesia to Postpone New Protectionist Shipping Rules for Coal and Palm Oil to 2020, Minister Says

News from gCaptain - Tue, 04/03/2018 - 08:47

JAKARTA, April 3 (Reuters) – Indonesia will postpone until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, Industry Minister Airlangga Hartarto said, among efforts to increase foreign exchange reserves. The rules, due to take effect this month and intended to boost the archipelago’s shipping industry, were initially […]

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Categories: Maritime News

Belgian Port on the Front Line Has Brexit Britain in Its Sights

News from gCaptain - Tue, 04/03/2018 - 08:14

By Dara Doyle (Bloomberg) — At Antwerp’s sprawling port, the ripples from Brexit are already apparent. The Belgian port saw trade with the U.K. drop 5 percent in 2017, the first decline in five years. Against that backdrop, Antwerp — described by Napoleon as a “pistol pointed at the heart of England” — is seeking […]

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Categories: Maritime News

USS Little Rock Departs Montreal After 3 Months Stuck in Ice

News from gCaptain - Mon, 04/02/2018 - 13:52

One of the U.S. Navy’s newest littoral combat ship is finally underway to her homeport in Mayport, Florida after spending the winter stuck in ice in Montreal. The ship, USS Little Rock, was supposed to head to Naval Station Mayport following her snowy commissioning in Buffalo, New York last December. But, while transiting the St. […]

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Categories: Maritime News

Japan’s ‘ONE’ Network Starts Business as World’s Sixth-Largest Container Shipping Line

News from gCaptain - Mon, 04/02/2018 - 11:21

Japan’s Ocean Network Express kicked off operations on Sunday, marking the official start of business for what is now the 6th largest container shipping company by overall capacity.  The Ocean Network Express, or ONE as it is called for short, was established on July 7, 2017 through the integration of the container businesses of major […]

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Categories: Maritime News

Military Sealift Command’s First Female Master Retiring After 36-Year Career

News from gCaptain - Mon, 04/02/2018 - 10:13

By Sarah Burford (Military Sealift Command Pacific) – On April 3, Military Sealift Command will bid “Fair Winds and Following Seas” to one of its most recognizable employees, Capt. Emigdia Esqueda, or Capt. Amy as most know her. A 36-year employee of MSC, Esqueda pioneered the way for female mariners and became a mentor and […]

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Categories: Maritime News

Moore Stephens: Shipping Industry Confidence at Four-Year High

News from gCaptain - Mon, 04/02/2018 - 09:55

(Moore Stephens) – Shipping confidence reached a four-year high in the three months to end-February 2018, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents was up from 6.2 out of 10.0 in November 2017 to 6.4 this time. Confidence on the […]

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Categories: Maritime News

Latin American Nations Compete for Capital in Surge of Offshore Oil Auctions

News from gCaptain - Mon, 04/02/2018 - 09:44

By Marianna Parraga HOUSTON, April 2 (Reuters) – For decades, many Latin America’s oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil companies. They aimed to protect profits to feed public budgets, but in practice have seen some major breakdowns, as with […]

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Categories: Maritime News

Bahrain’s Biggest Offshore Oil Find Since 1932 Dwarfs Reserves

News from gCaptain - Mon, 04/02/2018 - 08:47

By Mohammed Aly Sergie (Bloomberg) — Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency. The shale oil and natural gas discovered in a deposit off the island state’s west coast “is understood to dwarf Bahrain’s […]

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Categories: Maritime News

ABS Says e-Certificates Now Available to Entire Fleet

News from gCaptain - Mon, 04/02/2018 - 08:11

International classification society ABS has announced the launch of e-Certificates across the entire fleet of ABS-classed vessels. The e-Certificates are tamper-proof, independently verifiable and secure digital equivalents of traditional ABS paper certificates, and are designed to reduce administrative burdens, cut onboard clutter, and simplify port State, flag State, and third-party validation. Uniquely, ABS’ e-Certificate system […]

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Categories: Maritime News

China Hammers U.S. Goods with Tariffs as “Sparks” of Trade War Fly

News from gCaptain - Mon, 04/02/2018 - 07:46

By Ben Blanchard and Tony Munroe BEIJING, April 2 (Reuters) – China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world’s biggest economies in response to U.S. duties on imports of aluminum and steel. The tariffs, to […]

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Categories: Maritime News

Maritime Monday Throwback – Happy Easter!

News from gCaptain - Sun, 04/01/2018 - 12:40

This Maritime Monday throwback was originally published April 5, 2010. Happy Easter!!   You can find last week’s edition here » This Week’s Flickr Gallery » Developing Story: Australia Seeks to Steady Chinese Ship Stranded on Barrier Reef » “According to the safety experts who have briefed me, it could take some weeks,” Bligh told […]

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Categories: Maritime News
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