The Piraeus Port Authority announced that November 18 2019 marks the day that the port reached the 5 million TEUs for this year, with the last handled container being unloaded from the COSCO Shipping Capricorn vessel. Overall, the port of Piraeus is developing with the aim of becoming one of the most major ports in the Mediterranean.
Dalian Shipbuilding Industry (DSIC), North China-based shipyard, will construct the first LNG powered VLCC for Cosco Shipping Energy Transportation. The VLCC is amongst the four VLCCs Cosco Shipping Energy Transportation ordered earlier.
Under the sidelines of Chinese President Xi Jinping visit to Athens, Greece and China inked an agreement to boost port of Piraeus with 600 million euros by COSCO shipping; The agreement is part of 16 trade deals signed between the two countries.
In light of the US Sanctions to COSCO for alleged involvement in moving crude oil from Iran, David Peyman, deputy assistant secretary of state for counter threat finance and sanctions, commented that no company is too big to avoid sanctions if they conduct illegal operations.
COSCO, China’s state-run shipping conglomerate has debuted a cross-industry treaty during the World Shipping Summit in Shanghai with the aim to strengthen collaboration among actors from different sectors within the industry. The first batch of companies to join the initiative are Cosco Shipping, Maersk, Evergreen, CMA CGM, Yang Ming, Seaspan, Zeebrugge Port, Shandong Port Group, China Grain Reserves, BIMCO, Chalco Logistics, Kawasaki Heavy Industries, China Mobile and China FAW.
CargoSmart announced the successful completion of a proof-of-concept with eTradeConnect, of the new data exchange platform Global Shipping Business Network (GSBN). The engagement explored ways to enhance global trade through better collaboration among shippers, banks, terminal operators, and ocean carriers, with applications to be further developed once the GSBN is formed.
Duisburger Hafen AG (duisport) and COSCO Shipping Logistics came to an agreement on constructing the largest container terminal in the European hinterland, beginning with duisport withdrawing a coal island and build a trimodal container terminal in its place, called the ‘Duisberg Gateway Terminal’.
Six ARC7 LNG carriers transporting gas from the Yamal LNG project, under a joint venture of Teekay LNG with China LNG, are no longer classified as a “Blocked Person” under US OFAC rules, according to an official statement by Bermudas-based Teekay Corporation.
After the US imposed sanctions on subsidiaries of Cosco, European refiners have received an unexpected boost, as less crude oil from the North Sea and West Africa heads east, Reuters reports. What is more freight rates have risen as oil producers seek non-blacklisted vessels.
A supertanker by COSCO Shipping Tankers has received a temporary waiver from US sanctions. The ship is now able to discharge crude oil cargoes. In fact, the VLCC Coswisdom Lake, which discharged some crude in Singapore last week, offloaded the rest of its oil at Brunei on October 16, Reuters said citing shipping data on Refinitiv Eikon.
Marine insurers should report any suspicion of financial crime09/12/2019
USCG alerts on clear communication in TSMS09/12/2019
USCG issues DMDSS and DP Systems guides09/12/2019
Seafarers' PTSD: signs and recovery tips09/12/2019
Bahri looks to charter 12 LNG tankers from 202509/12/2019
Partnership for an inland navigation project in South America09/12/2019
Watch: Hellenic CG rescues 14 crew from listing cargo ship09/12/2019
Safebridge receives recognition for its services09/12/2019
Cruise delayed after passengers' luggage stolen in hijacking09/12/2019
Port of Gothenburg container terminal to be fossil-fuel neutral by 202009/12/2019