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Is the high growth rate sustainable?

Turkey’s growth rate, which started the year giving rather negative signals making even three percent look like an optimistic forecast for the year’s end, gained power in the final quarter thanks to various tax relief and incentive schemes; and mainly with the Credit Guarantee Fund (KFG). In the third quarter, Turkey’s gross domestic product came in at 11.1 percent higher than in the same period of 2016. Th ...

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35 states promise to reduce carbon footprint of shipping industry

Thirty-five countries have signed a declaration promising to take urgent measures to cut the share of  emissions generated by the maritime transport industry at the One Planet climate summit held in Paris in December. The declaration, whose signatories include the UK, France, Denmark, Germany, Canada, the Marshall Islands, Chile and New Zealand, was signed two years after the historic Paris climate change a ...

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World’s largest LNG-fueled ship awaits delivery

Hyundai Heavy Industries, one of the world’s leading shipbuilders, is getting ready to deliver the world’s largest LNG-fueled ship, a 50,000 dwt bulk carrier. Delivery is expected by the end of the year from HHI’s Hyundai Mipo Dockyard in South Korea, according to a statement from international classification society Lloyd’s Register, which will class the vessel together with the Korean Register. The ship w ...

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EU clears Cosco takeover of OOCL

The European Union competition watchdog examined the impact of the proposed transaction on the markets where both OOIL and COSCO are active, mainly the deep-sea container liner shipping services market. It concluded that if the market shares of the alliances or consortia that OOIL and COSCO belong to are taken into account, the transaction would affect eight trade routes – both legs of the Northern Europe-N ...

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Rolls-Royce delivers first mobile MTU gas engines

Rolls-Royce has announced that the first two pre-production units of the new mobile MTU gas engine were accepted by the shipping company Rederij Doeksen. In a statement on Dec. 20, Roll-Royce said the first two pre-production units of the new mobile MTU gas engine successfully completed their performance tests and were accepted by the customer at the beginning of December. MTU had presented its new marine p ...

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MOL joins IBM for blockchain cross-border trade operations test

Japan’s Mitsui OSK Lines has teamed up with IBM Japan and other firms for a demonstration test to see how effectively blockchain technology can be implemented in cross-border trade operations. Apart from MOL, a total of five firms are participating in this test, namely Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corporation, The Japan Research Institute, Limited, Mitsui & Co, Mitsui Sumitom ...

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New STM project for baltic sea approved for EU funding

A new Sea Traffic Management (STM) project has received EU funding from the Interreg Central Baltic Programme. EfficientFlow covers many aspects of Sea Traffic Management in the ports of Rauma, Finland and Gävle, Sweden, as well as STM-enabled traffic flow management for the many large ferries that sail through the archipelago between Sweden and Finland. The project will run 2018-2020 with a budget of EUR 4 ...

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BIMCO and CIRM propose software maintenance standard for shipment

BIMCO and the international association for the marine electronics industry, CIRM (Comité International Radio-Maritime), have sent the industry's first proposal for an industry-wide standard for software maintenance to the International Maritime Organization (IMO) for consideration. Without an industry-standard, BIMCO sees an increasing risk of severe incidents on ships, delays and costs to shipowners and c ...

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Demolition market looking for some action ahead of 2018

With the dry bulk market on recovery mode, ship recycling yards and cash buyers are scrambling to attract more deals. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “there certainly appears to be some division between what some of the cash buyers are offering and the resale levels from the actual recyclers. The recent increase in rates has been maintained this week resulting in a v ...

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THOMAS COOPER – MIND YOUR SHIPPING INDUSTRY 2017 SEMINAR

Thomas Cooper’s A Role Play: Shipbuilding Contracts & Charterparties - Challenges and Pitfalls seminar was held in Turkish Chamber of Shipping in Istanbul, on 28 Nov., Tuesday. Led by the Piraeus office of the establishment, the seminar entertained maritime industry’s specialists like shipowners, lawyers and insurance brokers. With its scenario written and directed by Robert Shearer; a fictious case on ...

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