SMI Newsdesk Archives

DP World wins 30 year operating concession at the Port of Algiers

Global marine terminal operator DP World has officially taken control of operations at the Port of Algiers, now known as DP World Djazair. The addition of Algiers and shortly Djen Djen, Algeria, brings DP World’s global network to 49 terminals in 27 countries. The handover follows an official signing ceremony held in Algiers on November 10, 2008.

DP World’s 30-year concession is consistent with Algeria’s strategy to develop Read More…

Wilhelmsen targets new BRIC investment opportunities

Wilhelmsen’s ship service arm has not allowed the current financial crisis to block future investment plans and has specifically identified new market opportunities in emerging markets such as Brazil, Russia, India and China

In Brazil, Wilhelmsen Ships Service is focused on the minerals and offshore segments. To support this, an investment program has been initiated that includes expansion of fire system and refrigeration service capabilities, ships agency services and a Read More…

A record 484 boxships lying idle

The number of containerships currently on standby or lying idle at anchorages or ports around the world has reached a record 484 ships totalling 1.41 million teu in capacity, according to findings by the French maritime consultant AXS Alphaliner. The figure represents 11.3% of the world’s total boxship fleet, marking the highest number of such ships ever.

Of the 484 ships ‘on hold’, 243 were awaiting their next Read More…

China could import 60 m tonnes of LNG by 2020

China’s LNG imports could reach as much as 60 million tons per annum by 2020 in light of the growing energy demand in the country. Now with its eye set on establishing a stable supply system of LNG on a long-term basis, China has been beefing up its relations with LNG-producing countries such as Qatar.

According to press reports, the China National Offshore Oil Corp. (CNOOC), is understood Read More…

European Parliament adopts Third Maritime Safety Package

The European Parliament plenary meeting in Strasbourg has adopted, as expected, the dossiers that forms the Third Maritime Safety Package, which includes the Directive on the civil liability and financial guarantees for ship owners which will require Member States to obtain proof that the insurance from ships flying their flag or entering their maritime territory is in place and up to the limits of liability as established by Read More…

Dockwise wins $42m shipment contracts

Dockwise Shipping has won nine near-term contracts worth $42 million to ship a jack-up drilling rig, dredging equipment, military and various other cargoes as well as the previously announced first quarter transportation of the HMS Endurance.

Together with industry partners, it will to transport the drilling rig Soraya to its new assignment in Thailand. On behalf of various clients, Dockwise Shipping has been contracted to transport three dredging Read More…

DMC launches industry fora

Dubai Maritime City Authority has underlined its role as guardian of the maritime industry in Dubai by launching a series of industry forums that will focus on changes to regulation around the world. The first forum, which covered shipping and the environment, was hosted by the Environmental, Health, Safety and Security (EHSS) department at the DMC Authority and looked at the key issue of discharges by vessels trading Read More…

Anglo Eastern opens Mumbai Academy

A new maritime academy designed to accommodate up to 240 High School graduates has been set up by the Hong Kong-based Anglo Eastern Group in Mumbai and the first students are due to settle in by this August.

It is “a long-time dream come true,” said Peter Cremers, Anglo Eastern CEO.

Under the deal, Anglo Eastern acquired an existing school set on a 53 acre site, including hostel Read More…

Maersk Tankers diversifies in fight against climate change

Maersk Tankers has taken a leap of environmental responsiveness by entering into the CO2 transportation market, which promotes the wider use of Carbon Capture and Storage (CCS) – a technology identified as key to mitigating the effects of climate change.

Martin Fruergaard, Senior Vice President of Maersk Tankers, said the initiative was designed to “act on the global challenge that is climate change and to develop innovative and creative ways Read More…

Insurance business models may fall short of Solvency II requirements

Leading accountant and consultant Moore Stephens has warned that some existing internal business models in the UK insurance industry may not meet the standard required under Solvency II, the EU project to create a system of risk-based prudential regulation in the insurance sector.

Simon Gallagher, head of the Moore Stephens Industry Group, says, “Insurers face a variety of challenges in achieving Solvency II compliance, some of them entirely new to Read More…

Norway hits troubled waters

Norway’s major maritime players have expressed deep concern over their sustainability through the troubling years ahead, as the global financial crisis hits the country’s shipping activity head-on, reports Amy Kilpin from Oslo.

Classification society Det Norske Veritas (DNV) has warned that as many as 8,000 vessels could be affected by cancellations and lay-ups in the next few years, and has stressed that the Norwegian maritime sector has suffered Read More…

IMB identifies fake frozen fish shipments

The ICC International Maritime Bureau (IMB) has uncovered a number of suspicious shipments of frozen fish, all containerised and bound for mainland China.

Whilst carrying out routine checks on behalf of members on the authenticity of Bills of Lading, the Bureau identified several fraudulent shipments that shared a number of similarities. All of the shipments were bound for mainland China, but they originated from a number of different Read More…