Friday, 15 September 2017 12:47

International Chamber of Shipping Redefined

ICSics logo new


The International Chamber of Shipping (ICS) has used London International Shipping Week to launch a new brand identity, to better serve its important role as the global trade association for shipowners, representing national shipowners’ associations from 37 countries and over 80% of the world merchant fleet.  Based on an update to the historic ICS logo, the refreshed brand pays homage to the iconic silhouette of a sailing ship that has been part of the ICS brand for nearly 100 years. Taking this heritage as a starting point, the symbol has been redrawn to be more contemporary in its style, combining the hull of a modern cargo vessel with the iconic sails of a traditional merchant ship.  The refreshed logo aims to speak of the larger shipping community with which ICS works on behalf of shipowners worldwide. The orientation has been rotated from profile to portrait making it stronger, prouder and more contemporary.To promote the new brand, ICS has produced a short film which can be seen here.

Friday, 15 September 2017 12:42

THE Alliance establishes $50M contingency fund

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The US Federal Maritime Commission (FMC) has approved THE Alliance’s plan for a $50m contingency fund in case one of its members becomes insolvent or suffers serious “financial distress”. Each of THE Alliance’s members – Hapag-Lloyd, MOL, NYK, K line and Yang Ming – are to contribute an initial $1m and a further $9m in “additional funds or through a letter of credit”, said FMC commissioner William Doyle, who voted to approve.  While the fund is set to be administered by a neutral trustee, in the case of an insolvency event or other “material adverse change”, the other lines would form a committee that would exclude the affected line. This committee would approve all disbursements by unanimous agreement and instruct the trustee on “actual disbursements and on other administrative functions”.

Friday, 15 September 2017 12:37

Code of Practice on Cyber Security for Ships

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The UK Department of Transport has released the IET Standards' Code of Practice - Cyber Security for Ships. The Code does not set out specific technical or construction standards for ship systems, but instead provides a management framework that can be used to reduce the risk of cyber incidents that could affect the safety or security of the ship, its crew, passengers or cargo. The Code of Practice is intended to be used as an integral part of a company's or ship's overall risk management system and subsequent business planning, so as to ensure that the cyber security of the ship, or fleet, is managed cost effectively as part of mainstream business. A recent survey of 2,500 seafarers has revealed that 40% of officers have sailed on a vessel that has become infected with a computer virus or malware and of those 87% of those surveyed had no cyber security training.  

Friday, 08 September 2017 12:18

Northern Sea Route ice-free

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Data from Russia’s Arctic and Antarctic Research Institute shows that the country’s entire Northern Sea Route now is ice-free and thriving with shipping activity. According to the Northern Sea Route Administration, on September 4th, a total of 94 ships operating along the route. And that list does not include military vessels. A lion’s share of the ships are concentrated in the area around the Yamal Peninsula where companies Novatek and Gazprom Neft are developing their grand Yamal LNG and Novy Port projects.

Friday, 08 September 2017 12:09

COSCO and PIL swap containerships

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A 12-vessel time-charter agreement between Cosco Shipping Lines and Singapore’s Pacific International Lines (PIL) has been signed with value of USD18.87 million. Under the agreement, COSCO will lease six vessels (one 6,500 TEU and five 4,250 TEU) ships from PIL and PIL will lease six 5,550 TEU containerships from COSCO. 

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The International Maritime Organization (IMO) Ballast Water Management (BWM) Convention will enter into force today, 8 September 2017. As agreed at the last Marine Environmental Protection Committee session in July, the implementation dates of the Convention were amended so that existing ships (i.e. ships constructed before 8 September) will not be required to install treatment systems until the date of their first International Oil Pollution Prevention (IOPP) renewal survey after 8 September 2019. In the absence os a treatment system, the ballast water must be exchanged in accordance with local regulations. Danish Shipping has prepared a guide – The Little Blue Book on Ballast Water – to assist in compliance with the rules of the convention. The guide is intended to be on board the ships, so the crew can seek information when needed.

Friday, 08 September 2017 10:42

Rickmers Group given a life line

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Zeaborn Group and Bertram Rickmers have won a bidding war to acquire the ship management division of Rickmers Group in a transaction that will ensure continued operations of parts of the insolvent carrier. Rikmers filed for insolvency on June 1st.  Completion of the transaction is subject to approval by the Federal Cartel Office and the consortium intends to take over the remaining business units of the Rickmers Group through an insolvency plan. A purchase price in the double-digit millions was agreed between the parties. 

Friday, 01 September 2017 13:33

TK names new shuttle tankers


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August 25th was a triple naming ceremony day at the Samsung Heavy Industries shipyard in Korea. Teekay’s newest shuttle tankers, Beothuk Spirit, Norse Spirit and Dorset Spirit, were officially christened and named in honor of the people who first inhabited the area around Newfoundland. Once delivered, the shuttle tankers will be operating at Hibernia, Terra Nova, White Rose and Hebron offshore oil fields located in St. John’s, Newfoundland & Labrador.

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The Singapore Maritime and Port Authority (MPA) issued a news release stating that it will not be renewing the bunker supplier licenses of Panoil Petroleum Pte Ltd and Universal Energy Pte Ltd after August 31st.  Both companies will no longer be allowed to operate as a bunker supplier and bunker craft operator in the Port of Singapore due to non-compliances to bunkering procedures and accreditation scheme.

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On August 22nd, the CMA CGM Theodore Roosevelt, with a 14,855 teu capacity, became the first ultra large container vessel (ULVC) to transit the Panama Canal. The vessel is deployed on the new OCEAN Alliance’s weekly South Atlantic Express (SAX) service, which connects Asia and U.S. East Coast ports via the Panama Canal. By transiting through Panama, the vessel saved 29,561 tons of CO2 by bypassing the Cape of Good Hope. For this voyage the vessel will also call the Port of New York and New Jersey, which recently completed a four year, US 1.6 billion project to raise the Bayonne Bridge to 215 ft. in order to accommodate larger ships.




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Starting September 30th Maersk Line will launch a new service between Montreal and ports on the Mediterranean Sea. The published ports of call will be Cagliari – Salerno – Leghorn – Genoa – Fos sur Mer – Algeciras – Tangiers – Vigo – Montreal – Tangiers – Valencia – Cagliari. With the Comprehensive Economic and Trade Agreement (CETA) being provisionally implemented in September, European tariffs will be eliminated on key Canadian exports and this service will tap into a new flow of goods. Maersk, the world’s largest container shipping company currently calls at all four major ports in Canada, Prince Rupert, Vancouver, Halifax and Montreal.




 473 SagaFortune Copy


Congratulations to Saga Shipholding for being recongnized by the US Coast Guard for excellent safety and environmental standards.  The Tevnik-based owner had nine vessels listed as qualifying for the USCG's "E-Zero" programme, which recognizes ships for having zero detentions and zero deficiencies wordwide over a three year period.  Qualified vessels must also have a US Coast Guard approved ballast trement system onboard.  



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