• 2018 January 17 15:42

    Norwegian Central Bank excludes Evergreen Marine, Precious Shipping, Korea Line and Thorensen Thai Agencies from the Government Pension Fund Global

    The Norwegian Central Bank announced its decision to exclude ship owners Evergreen Marine Corporation, Precious Shipping, Korea Line Corporation and Thorensen Thai Agencies from the Government Pension Fund Global (GPFG). The exclusion is based on the companies’ poor management of their end-of-life ships and the sale of these for dirty and dangerous shipbreaking on the beaches of Gadani, Pakistan and Chittagong, Bangladesh.

    The Norwegian Council on Ethics directs the Norwegian Central Bank, which manages the Government Pension Fund Global, on which companies should be excluded from investments in the fund, based on human rights and humanitarian violations, corruption and environmental degradation records. The GPFG is the largest sovereign wealth fund in the world, owning 1% of all investments worldwide, and the recommendations of the Council on Ethics weigh on other investors as indications of good financing.

    The NGO Shipbreaking Platform has documented that in the last three years, 20 ships were sold by Evergreen, Korea Line, Precious Shipping and Thoresen Thai Agencies to beaching facilities in South Asia. The companies have been excluded from the GPFG because the beaching of their vessels cause severe environmental damage and serious human rights violations.

    Whilst the exclusions so far are limited to companies that have sold their end-of-life vessels to be beached in Bangladesh and Pakistan, the reports clearly state that “to date, the Council on Ethics has not examined the way ships are broken up in India.

    According to the Council on Ethics, selling a vessel to a beaching yard “is a consequence of an active choice on the part of the company that owned the vessel to maximise its profit. In the Council’s opinion, that company must shoulder an independent responsibility for doing so. There are better ways of dismantling ships that are readily available to the shipowner, but these are more expensive”.

    Bearing in mind that Taiwan used to be the destination for breaking ships before the boom of the industry in South Asia, it is particularly damning for Evergreen – a Taiwanese company – not to remember the legacy that the industry left in its country following the explosion in the port of Kaohsiung in 1988.
     




2018 February 24

17:06 HHLA: First 20,000 TEU container ship at Tollerort
17:02 Jumbo completes project for the Arkona offshore wind farm

2018 February 22

18:25 European Commission fines maritime car carriers, parts suppliers in three separate cartel settlements
18:11 Port of Gdansk expects multimilloin investments
17:51 Port of St. Petersburg bunker prices edge up (graph)
17:35 Russia’s antitrust regulator gives Transneft green light on Novorossiysk Commercial Sea Port deal
17:02 Maersk Line announces an increase in FAK rates from Far East to North Europe
16:02 The tall ship that harnesses the wind to recharge its batteries
15:29 Port of Tallinn opens passenger terminal A renovated arrivals hall
15:13 MABUX: Bunker market may continue moderate upward evolution next week
15:02 GoodBulk announces delivery of two Capesize vessels
14:40 New product tanker of RTS27M series Balt Flot 20 takes to the water at Krasnoye Sormovo Shipyard
14:02 European Commission issues decision concerning the Violation of European Antitrust Law
13:35 Vostochny Port JSC picks contractors for coal transfer stations Phase 3 project
13:32 HMM reaches over 10,000 TEU in terms of volume of its US Premium Service
13:02 Boskalis receives EUR 300 million Letter of Award for Singapore Finger Pier 3 development
12:24 Northwest Seaport Alliance container volumes decline in January
12:17 Bunker prices in Far East seaports close the week flat
12:12 Rolls-Royce to supply propellers and mission bay technology for UK Royal Navy’s Type 26 Global Combat Ship
10:41 Crude oil futures prices fell 0.81% to $64,89 in London, in New York – by 1.07% to $61,02
10:32 Waterborne freight in Ukraine rose in January by 71.7% to 300,000 tonnes
10:05 CMA CGM announces GRR from the U.A.E. to West Africa
09:18 Waterborne passenger traffic in Ukraine plummets 44.4% in January
09:13 Baltic Dry Index gains to 1146 points
09:05 Konecranes strengthens its bulk handling presence in Japan with a Model 4 mobile harbor crane
08:17 World port accelerator programme PortXL to be launched in Singapore

2018 February 21

19:06 Russia’s State Duma set to change tariff policy to lend a helping hand to inland water transport
18:07 ONE, OOCL and SACO Shipping use booking tool eBooking
17:43 Renovated Stena Line Terminal at Europoort starts operation
17:06 Project to map ocean floor by 2030 now operational
16:52 Rosterminalugol export coal terminal handles 3-millionth tonne YTD
16:22 Zelenodolsk Shipyard to host keel-laying of 11th Buyan-M class corvette, Feb. 23
15:03 Launching of RST27M Balt Flot 20 at Krasnoye Sormovo Shipyard slated for Feb. 22
14:14 NGO Shipbreaking Platform publishes list of ships dismantled worldwide in 2017
13:18 ATOMFLOT says Russia needs nine more icebreakers for the Northern Sea Route by 2025
13:01 Clarksons Platou collaborates with Maersk Line to provide shipping services in Egypt
12:43 Big Port of St. Petersburg imposes ice restrictions in the harbour effective as of March 7, 2018
12:31 Castellammare Di Stabia starts slipway works on the multipurpose amphibious unit
12:10 Rosterminalugol transferred over RUB 1.5bn of taxes to different budgets
12:01 Panama Canal hosts Cheniere Energy to discuss LNG’s Future at the waterway
11:25 MOL car carrier rescues castaways in the North Atlantic Ocean
10:53 Crude oil futures prices edge down 0.8% to $64,73 in London and 1% to $61,17 in New York
10:46 Sovcomflot and Shell ink time-charter agreements for Aframax LNG-powered duo
10:35 Vostochny Port obtains ISO 14001:2015 certificate
09:48 Port of St. Petersburg bunker prices move upward
09:26 Baltic Dry Index rises 2.76% to 1117 points

2018 February 20

18:37 Time is running out to register for the Dangerous Goods: New Requirements for Transportation Conference, March 1, 2018
18:31 Russian association of fishery businesses call to revise a 'fishing quotas per a keel' terms
18:06 AVANZA completes a successful trial with Daikin Reefer
17:38 The Maritime CIO Forume Cyprus 2018 to be held in Limassol, March 27
17:03 DNV GL issues over 50,000 electronic certificates
16:55 RIMS secured a further class approval from Korean Register of Shipping for the use of drones during surveys
16:39 Taganrog Commercial Sea Port spent $156 000 on environment protection in 2017
16:34 Wärtsilä and Maersk Drilling create a joint 25-year strategy for thruster services to increase uptime and reduce costs
16:04 Post-Brexit port health border disruption still a major concern for British ports
15:34 Goltens teams up with Yara Marine on SOx scrubbers
15:21 Taganrog Sea Commercial Port earmarked $74,4 to support social programmes in 2017
15:04 US Navy awards concept design contract to Fincantieri to evolve FREMM into FFG(X)
14:32 Port of Marseille Fos traffic up 8% in 2017
14:02 The largest vessel enters Busan Port since its opening