SMI Newsdesk Archives

Wärtsilä and Sudoexport sign MOU

Wärtsilä, a global player in complete lifecycle power solutions for the marine and energy markets, and United Shipbuilding Corporation (Sudoexport), Russia’s leading shipbuilder, have signed a Memorandum of Understanding to establish joint set-ups in the areas of developing modern ship designs and manufacturing of propulsion systems.

The long-term strategic partnership is aimed to combine the joint expertise of both companies to meet customers’ challenging requirements in building of modern and Read More…

LR verifies Maersk Line’s carbon-emissions data

Lloyd’s Register has provided independent verification of Maersk Line’s CO2 emissions in support of the leading container operator’s efforts to measure and manage its emissions.

The verification, based on an office assessment of the shipping line’s processes for data management and an audit of the Maersk Clementine, comes at a time when leading manufacturers are increasingly asking their transport companies to provide proof of their ‘green’ credentials.

“Maersk Line is Read More…

UN Secretary General makes anti-piracy pledge

Responding to the 13 organisations who jointly presented a 930, 406 signature petition to the International Maritime Organization on 23rd September, United Nations Secretary General Ban Ki-moon has promised that the UN and its partners will “spare no effort to address the challenges arising from the issue of piracy”.

Representing the coalition of shipping organisations who delivered the petition, Spyros M. Polemis, President of the International Shipping Federation, responded: “We’re Read More…

Positive results for Steamship Mutual

Major protection & indemnity insurer Steamship Mutual has reported positive results, allowing the club to maintain rate levels for 2011.

The directors reviewed the mutual premium ratings position of the open policy years and resolved not to impose a standard increase on Class 1 (P&I) or Class 2 (FD&D) but agreed that records and rates would be reviewed and assessed as usual.

Development of the club’s 2009 policy year was Read More…

New Asian Ventures for Braemar Shipping Services

Leading global ship broking and shipping services group Braemar is pursuing fresh ventures in China following its granting of a wholly owned foreign enterprise licence which could see it better exploit the local Chinese shipbroking market.

The move is part of Braemar Shipping Services’ determination to expand further into the Far East which will also see it expand its operation in Singapore by introducing sale and purchase and tanker chartering Read More…

BW Group warms of tough regulations ahead for the offshore industry

Andreas Sohmen-Pao, Chief Executive of fleet operator the BW Group has warned that the Gulf of Mexico oil spill will lead to stricter regulations with consequences for the entire offshore industry.

“We are watching carefully to see what the outcome of the oil spill will be,” Mr Sohmen-Pao said. “It is hard to predict specifically how the regulations will change, as some of the changes will be politically driven. However, Read More…

BSM crews prove you can thwart pirate attacks

Swift and evasive action by crew onboard two of Bernhard Schulte Shipmanagement-managed ships helped them avoid being hijacked by marauding pirates a matter of weeks ago.

One attack occurred 600 miles south west of India, where Somali pirates targeted the 45,744 dwt product tanker Ardmore Seafarer. Speaking exclusively to SMI, Capt Bill Lunn, Group Loss Prevention, Safety and Quality Director said: “The ship was quite far out but pirates can Read More…

GPSChemoil Secures Financing for Fuel Terminal Project

GPSChemoil has confirmed that financing for the construction of phase four of its storage terminal at Fujairah, United Arab Emirates has been sourced.

The company secured the financing of the $90 million loan from a consortium of banks in Abu Dhabi, Dubai and Singapore. The new storage terminal will increase capacity in Fujairah from 95,000 cubic meters to approximately 675,000 cubic meters. Phase four of the project is expected Read More…


The Asian Shipowners’ Forum has announced its support for the Competition Commission of Singapore’s proposal to extend the block exemption for liner shipping until December 31, 2015.

Currently, liner shipping agreements including conferences, discussion agreements and consortia are exempted from competition laws in the majority of Singapore’s trading partners including the USA, Japan and South Korea.

Yuichi Sonoda, Secretary General of ASF said: “The ASF has its long-standing position Read More…


On Monday October 18, delegates from around the globe gathered in Nagoya, Japan for the UN summit on biodiversity, the Convention on Biological Diversity (CBD) to determine measures to decrease the impact of human activities on the marine environment.

The CBD is a legally-binding treaty consisting of 193 members – 192 governments plus the European Union. Conference documents request governments to adopt measures to prevent significant adverse effects from human Read More…

Wärtsilä and Ecospec team to deliver clean power solutions

Power solutions provider Wärtsilä and Ecospec Global Technology, owner of the CSNOx emissions abatement technology have joined forces to sign a Memorandum of Understanding to work together to provide clean power solutions.

The companies intend to combine their resources to achieve the lowest possible CO2 emissions, near zero SOx emissions and to create the ability to deliver future NOx emissions requirements.

Under the MOU, Wärtsilä must integrate the CSNOx system Read More…

Exmar and Teekay sign vessel purchase accord

Exmar NV and Teekay LNG Partners have reached an agreement in principle whereby Teekay will purchase a 50% interest in two of Exmar’s LNG carriers, the 2005-built Excelsior and the 2002-built Excalibur.

Both vessels are long-term time-chartered to Excelerate Energy. Exmar will remain responsible for the management and operations of the vessels.

The transaction is still subject to the completion of the loan and lease documentation currently in progress with the Read More…