• 2018 April 10 14:58

    HYUNDAI Merchant Marine to order twenty eco-friendly mega containerships

    HMM embarks on ordering new eco-friendly mega containerships, the company said in its press release. After Korean government’s ‘5 Year Plan for Rebuilding Korean Shipping’ announcement, HMM - as Korea’s national flagship carrier-is now getting into its stride to gain global competitiveness through ordering eco-friendly & highly efficient mega containerships.  

    First, HMM plans to order of total twenty mega-vessels; twelve above 20,000 TEU and eight 14,000 TEU vessels which are considered to deploy in the Asia-North Europe and US East coast trades respectively.   Considering the factors including the recent increase in new shipbuilding price and dock availability, HMM will start on selection of shipyards by sending out its Request for Proposal (RFP) to shipbuilding companies on April 10.  

    The International Maritime Organization (IMO) is moving forward with a marked reduction in the maximum sulfur content bunker fuel oil from 3.5% to 0.5% on January 1, 2020. To comply with the new environmental regulations, HMM will opt for scrubber installation or LNG bunkering for all the newbuilding vessels after thorough discussions with the finally selected shipbuilder.   If the shipbuilding process proceeds smoothly followed by the selection of the shipbuilder, signing of a Letter of Intent (LOI) and finalizing its contract, all the new vessels will be sequentially delivered in the right time to prepare for the 2020 environmental regulations.  

    Through this new shipbuilding, HMM will be able to secure stronger fleet competitiveness with the benefit of economies of scale. Furthermore, it will help HMM to form a stable basis for making profits in the intensely competitive market.   Along with the fleet expansion, HMM is going to set a new mid-long term plan to enhance its global competitiveness to promote business normalization & shareholder value, and to create added value between shipping and logistics for mutual growth. To do so, HMM will boost its organizational capability, develop IT technology adopted in shipping, and expand global networks.  

    HMM has been making its concerted efforts in all sectors, since its restructuring plan was implemented in the second half of 2013. HMM has focused on securing financial liquidity through KRW 4 billion restructuring plan including sales of controlling stake in affiliates and other property.  

    HMM official said that “Through the acquisition of the most technologically advanced mega containerships, we can strengthen cost competitiveness and react rapidly to the international environmental regulations.” And that “HMM will do its best to become a global top carrier to meet expectations of related organizations and shareholders.”




2018 May 24

09:26 Baltic Dry Index drops 37pts to 1162 points
09:08 akquinet and IDENTEC SOLUTIONS join forces to revolutionize refrigerated container management
08:39 Maersk Line starts new transatlantic service between Europe’s Mediterranean region and Canada
08:34 Compagnie Maritime Monégasque and Damen join forces to introduce Fast Marine Access in Brazil

2018 May 23

17:54 Container Terminal Saint-Petersburg invested RUB 256 million in modernization of its facilities in QI’2018
17:27 Greece suggests arranging cruise lines to Russia
17:00 Rosmorrechflot comes out for replacement of shipbuilding subsidies with cheap financing
16:16 Agreement on Enhancing International Arctic Scientific Cooperation enters into force
15:48 New Belgium container connection bolsters Port of Hull
15:25 DALO chooses SARIS to support SAR operations
15:03 FESCO transports three transformers from Novorossiysk for Moscow central heating and power plants
14:42 Ukraine’s water transport carried 0.3 million passengers in 4M’18, down 3%, Y-o-Y
14:21 Hapag-Lloyd update on restrictions for DG cargo handling at FIFA World Cup in Russia
13:59 Cargo transportation by Ukraine’s water transport fell by 18.5% to 1.0 million tonnes in 4M’18
13:36 SASCO BoD elected Aleksey Pavlov as Director General of the company
13:13 “K” Line announces delivery of special coal carrier “CORONA XANADU”
12:52 Tallink Grupp to list shares also on Helsinki Stock Exchange
12:31 Rosmorport appoints Sergey Lyamtsev as Acting Director of its Azov Basin Branch (photo)
12:13 MPC Container Ships ASA acquires three 2,500 TEU feeder container vessels
11:43 Strong programme raises profile of The Maritime Standard Ship Finance and Trade Conference
11:18 Gunvor forms new ship holding jv СlearOcean Tankers
10:50 Port of Singapore throughput in 4M’18 grew by 1.1% Y-o-Y to 207.78 million tonnes
10:28 Brent Crude futures price down 0.63% to $79.07, Light Sweet Crude – down 0.4% to $71.91
10:09 Diana Shipping announces time charter contract for m/v P. S. Palios with Koch
09:55 Okskaya Sudoverf lays down lead multi-purpose dry cargo carrier of Project RSD32M
09:52 Container shipping is smart to collaborate on standards, says MSC CIO
09:15 Baltic Dry Index up to 1,199 points

2018 May 22

18:37 CMA CGM announces GRR from India and Sri Lanka to West Africa
18:07 Great Lakes Dredge & Dock Company adopts ABS Subchapter M regulatory compliance mobile software
17:47 Container throughput of port Hong Kong (China) down 2.8% to 6.49 million TEUs in Jan-Apr’18
17:33 Suez Canal revenues up to 479.3million dollar in April
17:26 Severnaya Verf starts cutting metal for initial section of longline factory vessel (photo)
17:05 Med Marine signs two new design contracts with Robert Allan
16:28 Okskaya Sudoverf launches second shallow-draft barge of Project ROB20, Belmax 2 (photo)
16:05 Bibby Offshore secures multimillion North Sea contract
15:50 RF Ministry of Justice registers order on designation of caution areas in ports of cities hosting World Cup 2018
15:34 New generation of RoRo’s designed by KNUD E. HANSEN for Grimaldi
15:04 Iridium network approved to provide Global Maritime Distress Safety System (GMDSS) services
14:39 North West MP finds out more about how the Port of Barrow is powering the region
14:10 Rosmorport continues providing icebreaker assistance in the Arctic Basin
13:45 Bunker prices are going up at the Far East ports of Russia (graph)
13:21 Van Oord marks 150th anniversary with christening of SRI vessel Bravenes
12:42 IMO approves joint RF/USA proposal on regulation of shipping in the Bering Strait (photo)
12:23 Wärtsilä LNGPac passes 100th order milestone
12:14 Jotun Australia is formally open for Yacht business with complete yacht coating solutions
11:30 ABS Nautical Systems chosen as exclusive mobile compliance solution for Crosby tugs
11:26 Baltic icebreaking season 2017-2018 ends
11:03 Throughput of port Kavkaz in 4M’18 up 51% Y-o-Y to 11.28 million tonnes
10:48 IMO agrees to recognize that the Iridium network meets all the criteria
10:37 Presidents of Iceland and Finland discussed Arctic matters on board IB Urho
10:12 Brent Crude futures price up 0.28% to $79.44, Light Sweet Crude – up 0.32% to $72.58
09:44 Development and financing of strategic transport projects uniting Lithuania and Poland discussed in Vilnius
09:16 Baltic Dry Index down to 1,239 points

2018 May 21

18:31 P&O Cruises marks first construction milestone for newest ship with steel cutting ceremony in Papenburg
18:00 IMO continues roll out of new port emissions training
17:35 Preliminary preparation stage for concession on Northern Latitudinal Railway completed
17:08 Two more vessels added to Offshore Fleet of Azerbaijan Caspian Shipping Company
16:40 Oceanographic research vessel Admiral Vladimirsky arrives at port of Messina (Sicily)
15:59 Federal funding contributes to critical infrastructure projects to support trade through the Port of Vancouver
15:31 Vympel Shipyard launches 75th Mangust patrol boat for Russian FSB Border Service (photo)