Investment and Risk in Shipping: Finding Your “Sea Legs”
Despite the turbulent and challenging conditions currently experienced by many in the sector, shipping continue s to attract keen attention from investors new to the industry. Some inherent investment risks are common to all...
ABB Azipod Propulsion for Viking Line Cruise Ferry
ABB to provide Azipod propulsion system for new Viking Line cruise ferry to be built in China, the first installation of Azipod propulsion in a cruise-ferry application. The vessel is to be built by...
[Watch] Iranian Cargo Ship Runs Aground
On October 9th, an Iranian cargo ship reportedly sank near the Sheikh Jaber Al-Ahmad causeway, a cable-stayed bridge pending construction. There were no reports of casualties or injuries from the incident.
The Doha port-bound...
Panama Canal’s $5 Billion Bet Pays Off
Panama’s $5 billion investment to expand its century-old canal is paying off as shipping lines send more U.S.-bound cargoes through the passage instead of the Suez Canal.
Ships nearly three times as large as the...
Ship with €220 Million Cocaine Haul Halted on Way to Spain
SPANISH authorities have held seven drug traffickers who attempted to smuggle almost 4 tonnes of cocaine worth an estimated €220 million into the country.
The bust comes following a tip off from international investigators.
Authorities intercepted...
4 Cargo Ships Banned from All Ports for Violating UN Sanctions
The U.N. Security Council has banned all nations from allowing four ships that transported prohibited goods to and from North Korea to enter any port in their country.
Hugh Griffiths, head of the panel of...
[Watch] How Maersk Supply Service Works
Maersk has produced a video which illustrates the challenge to work with very large nautical structures, even in the world's harder waters and how important is that the job is not only done quickly...
‘Fingerprinting’ the Ocean to Predict Devastating Sea Level Rise
SCIENTISTS ARE “FINGERPRINTING” sea level rise around the world in an effort to identify coastal areas most at risk from devastating storm surge, as hurricanes grow increasingly destructive.
Warming ocean temperatures due to climate change can fuel...
MAN Offering LNG Retrofit Discount
MAN Diesel & Turbo is offering a €2 million discount for 10 ship owners who retrofit existing heavy fuel oil (HFO)-burning engines to liquefied natural gas (LNG).
The engine manufacturer is moving to encourage more owners...
Delivery of Cargo Without Original Bills of Lading
It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-production of bills of lading. Although it is commonly accepted in many trades,...