Ship Operating Costs on Downward Track

Operating costs that have fallen for six consecutive years are to be welcomed, but ship operators should not become complacent as there are plenty of road-bumps ahead. According to accountancy and advisory network Moore Stephens, total annual operating costs in shipping dropped by 1.3% in 2017. Its ship operating expenditure-benchmarking tool OpCost 2018 reveals that
Complete Reading

Pakistan ranked one of the top three ship scrapping countries in the world, ahead of neighbouring China, as the south Asian country demolished around 3.5 million tons of vessels during the last year, a UN body’s report revealed this week. The United Nations Conference on Trade and Development’s (UNCTAD) data showed that Pakistan scrapped 3.459
Complete Reading

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by 1.3 per cent in 2017. This compares with the 1.1 per cent average fall in costs recorded for 2016. For the third successive year, all categories of expenditure in 2017 were down on those for the previous
Complete Reading

Twelve crew members of a Swiss merchant vessel kidnapped by pirates off the coast of Nigeria are from the Philippines, Slovenia, Ukraine, Romania, Croatia and Bosnia, the West African nation’s maritime agency said on Sunday (23 September 2018). They were abducted on Saturday from the vessel that was travelling between the cities of Lagos and
Complete Reading

CHENNAI: The average turnaround time of ships, a key parameter to measure a port’s efficiency, has reduced by 25 per cent to 64.4 hours in 2017-18 from 87.3 hours in 2015-16, said Mr. Kailash Kumar Aggarwal, Joint Secretary, Ministry of Shipping. The higher efficiency and productivity had translated into the net profit of Major Ports
Complete Reading

As digitalisation continues to reshape the maritime industry, the first commercial autonomous vessels are due to launch in the next several years. To help build a safety culture around these new technologies, DNV GL has released a new class guideline covering autonomous and remotely operated ships. The guideline covers new operational concepts that do not
Complete Reading

Nigerian authorities on Monday said they were working to find and free 12 crew members of a Swiss-registered cargo ship who were kidnapped by sea pirates at the weekend. The Nigerian Maritime Administration and Safety Agency (NIMASA) said it had “commenced search (and) rescue operations” for the abducted crew from the MV Glarus. The ship
Complete Reading

Twelve crew members of a Swiss merchant vessel kidnapped by pirates off the coast of Nigeria are from the Philippines, Slovenia, Ukraine, Romania, Croatia and Bosnia, the West African nation’s maritime agency said on Sunday (23 September 2018). They were abducted on Saturday from the vessel that was travelling between the cities of Lagos and
Complete Reading

A 1,068 TEU containership, owned by Maersk Line, has been detained in Tunisia in relation to claims on Maersk Honam fire, the Danish shipping major informed. “We can confirm that on September 10, 2018 the vessel Alexander Maersk was detained in the Port of Sfax, Tunisia,” a spokesperson from Maersk said. The spokesperson added that the detention
Complete Reading

Containership charter owner Global Ship Lease has signed a time charter contract with Danish liner Maersk Line for the 2004-built, 8,063 TEU containership OOCL Ningbo. The ship has been renamed GSL Ningbo, following its redelivery by OOCL on September 17, 2018. The vessel will be chartered, commencing on or around September 21, 2018, for a period of between two and
Complete Reading

Create Account



Log In Your Account