Shipowners looking to install marine exhaust gas cleaning systems as way of meeting global sulphur cap requirements need to ensure that manufacturers, shipyards and installers are using quality, high-end materials, members of the Clean Shipping Alliance (CSA) 2020 advised. Scrubbers have been identified as one of the top choices for complying with the sulphur cap,…
The European Commission has found Germany’s plans to strengthen the capital position of state-owned Norddeutsche Landesbank – Girozentrale (Nord/LB) to be free of any state aid. The measures involve a direct investment of EUR 2.8 billion (USD 3.1 billion) as well as investments to carry out the necessary structural changes and downsizing of the bank…
Miami-based cruise company Royal Caribbean Cruises Ltd. (RCL) has signed a long-term contract with the Port of Galveston in Texas for a new USD 100 million cruise terminal. As informed, through the public-private partnership, RCL will build the terminal, then lease it from the port for an initial term of 20 years, with four 10-year…
Global port operator DP World has established a Dubai-based marine solutions and logistics company, P&O Maritime Logistics (POML). POLM is the result of DP World’s recent USD 1.1 bn acquisition of Topaz Energy and Marine and its integration with P&O Maritime. As informed, the new company will focus on three strategic segments: offshore, port services and logistics.…
The fast-approaching entrance into force of the global sulphur cap is a change of a magnitude never attempted before on a global basis. Under the new regulation, the limit for sulphur in fuel oil used on board ships operating outside designated emission control areas will be reduced to 0.5% from 3.5%. This is expected to…
French shipping and logistics major CMA CGM Group has signed an agreement with China Merchants Port (CMP) to sell a portfolio of stakes in ten port terminals to their joint venture Terminal Link. CMA CGM plans to cash in USD 968 million from the transaction, which is expected to close in spring 2020, pending approval…
Thane Municipal Corporation (TMC) has completed an interesting pilot where it tested delivery of property tax assessment reports using Blockchain technology. This will help track late payments, dispute resolution, monitor collection targets, identifying non-delivery of bills, and facilitate inter-department coordination. “This technology intervention will go a long way toward thwarting fake documents,” Sameer Unhale, Chief…
Japan witnessed 1,54,029 Indian travellers visiting the country in 2018 Japan National Tourism Organisation (JNTO) has pegged the number of tourists visiting Tokyo from India to grow by 16 per cent this year, a top official said. According to JNTO, Director Aya Hashimoto, Japan witnessed 1,54,029 Indian travellers visiting the country in 2018. “Japan already…
The Trump administration has imposed a new batch of sanctions against Iran, targeting an Iranian shipping network and airline. Speaking at a press conference yesterday, U.S. Secretary of State Mike Pompeo said that the designated shipping companies include the Islamic Republic of Iran Shipping Lines (IRISL) and its China-based subsidiary, E-Sail Shipping. Pompeo described IRISL…
TOP Ships, a Greek owner and operator of ECO tankers, has inked a financing deal with an undisclosed Chinese financier worth USD 60.2 million for its recently acquired two newbuilding 50,000 dwt Medium Range product/chemical tankers. The ships were bought earlier this month, from an entity affiliated with Evangelos Pistiolis, the company’s President and CEO. According…