the Asia-Pacific region now makes up 50 percent of the top 10. Singapore maintains its leading position for the fifth consecutive year due to the strategic opportunities brought about by the Belt and Road initiative. Hong Kong overtook London for the first
time in five years to take second place, although London is still assessed to be the top professional maritime services location.
trade, while ZIM operates two loops on the trade. As of early September 2018 when this new strategic cooperation deal comes into place, Maersk Line and MSC will contribute four of their operated loops to a combined operation of five loops with ZIM between
Asia and USEC. ZIM will operate one loop. 5The cooperation with the 2M Alliance creates a major upgrade of ZIMs Pacific services, ZIM said.
for ship prices. This wait-and-see approach, combined with the traditional northern hemisphere summer lull, is expected to see S&P markets quieten down for the coming few weeks. On the dry bulk side, activity was set
back into motion, with a fair volume of units changing hands. This does seem to have been at a cost however, with prices having felt some downward pressure on certain deals.
Navy’s sub base. Due to a miscalculation during the design phase – a misplaced decimal point, according to a former defense procurement official – the original S-80 hull form turned out to be too heavy by a margin of about 125
tons. To correct the problem, shipbuilder Navantia added three additional compartments to lengthen the design and increase buoyancy, so it is now too big.
in the Eastern Dock and will provide storage for a further 3,000 vehicles. It is expected to be completed in 2019. ABP has already invested more than £32 million ($42 million) over the past five years to support the automotive
industry. Many of ABP’s ports have the capability to handle vehicles, and around 40 percent of all vehicles imported and exported by the U.K. are handled by an ABP facility.
quarter of 2018. The price for the vessel is $13.86m. The latest acquisiton will increase the companys fleet to 69 vessels. Last month, MPC Container Ships raised $50m via a private
placement for further ship acquistions.
bumper orders this week. Shares of one, Alfa Laval AB, rose to a record after saying it was nearly sold out for next year. Weakness in the fuel oil market has been one of the biggest impacts of the IMOs impending 2020
sulfur cap. Fitting ships with scrubbers is still expected to be a relatively marginal solution for vessels and demand for the fuel will still drop sharply in 2020.
been caused by the entry of debris into the engine during its installation. In July and August 2017, the Sky’s #2 main engine suffered a series of failures, beginning with an undiagnosed coolant loss problem. A contractor replaced
cooled components as they failed, but the mysterious leak continued. Additional remedial steps resulted in engine damage, and a full rebuild.
the Middle East is likely to increase slowly, while shipments to the US and Europe will diminish for the remainder of 2018. Due to excess capacity, earnings are also incredibly low, with an average of $6,001 per day for
Very Large Crude Carriers (VLCCs) and the Suezmax tanker earning $10,908 per day. Compare that with $60,000 and $40,000 (respectively) in January of 2017.
2018 after an Indian national contacted the charity seeking help on the case, Human Rights at Sea (HRAS) disclosed in a case study. The Indian seafarer was abandoned by his employer, and hadnt received a salary for over
a year. However, he was not alone, 11 more Indian nationals, 3 Ethiopian and 2 Filipino mariners shared a similar fate. The seafarers were left on the island.
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