Containers Weekly Round Up: Contract Negotiations in the Spotlight
November has turned out to be a tug of war contest for the global front haul routes as the annual contract negotiations take the spotlight. The carriers are attempting to keep rates higher than...
CMA CGM’s €250 Million High Yield Bond Issuance
Shearman & Sterling represented BNP Paribas and HSBC as initial purchasers on CMA CGM’s €250 million issuance of 5.250% senior notes due 2025. The notes are being issued as additional notes under CMA CGM’s...
Fully Electric Cargo Ship Launched in Guangzhou
The world's first 2,000-metric-ton all-electric cargo ship has been launched in Guangzhou, the capital of Guangdong province.
The ship, manufactured by the Guangzhou Shipyard International Company Ltd, represents a technological breakthrough as it is the...
Sulphur-limit Clock is Ticking!
Shipowners must take decisions on their fuel strategy in the light of new International Maritime Organization (IMO) regulations.
But according to one bunker broker, installing scrubbers to continue burning heavy fuel oil could backfire.
The decision by...
Panama Canal Expansion Pits East Coast vs. West Coast
Asian shippers are siding with the Notorious B.I.G.’s declaration of regional loyalty from the 1997 hit “Goin’ Back to Cali”: “If I got to choose a coast, I got to choose the East.” The...
Fitch: Tanker Shipping Oversupply to Keep Rates Low
Oversupply in the tanker shipping market is expected to keep the rates low in 2018 while a glut can be noticed in delivering new vessels combined with limited scrapping of older ships. This move...
Poor Stevedoring Contributed To Unsecured Cargo Stack Collapse
Summary
On 18 December 2016, the bulk carrier ‘Graig Rotterdam’ was discharging a deck cargo of packaged timber at anchor in Alexandria Port, Egypt.
That day, the bosun, of Chinese nationality, fell overboard and into a...
[Watch] ABS Internal Tank Drone Inspection
Cyberhawk Innovations, the world leader in inspection and survey using unmanned aerial vehicles (UAV), has been certified as an External Specialist by the American Bureau of Shipping (ABS) in providing inspections for internal tanks...
WinGD Engines to Power LNG Fueled Box Giants
CMA CGM’s LNG fueled box giants are all set to be powered by Winterthur Gas & Diesel Ltd.
The WinGD engines comprise of a 12-cylinder X92DF engines (12X92DF) to power the nine 22,000 TEU LNG...
Cargo Ship Drifted Across Darsena Port
On November 13, a cargo vessel reportedly drifted across the port of Darsena after breaking away from its mooring due to strong winds.
What happened?
The cargo vessel ‘Lady Aziza’ broke away from its mooring in...