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The Maritime Executive

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Articles posted by the international team of staff writers at The Maritime Executive.

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DHT Holdings Announces $50 Million Scrubber Financing

By MarEx 2018-09-24 22:07:50

DHT Holdings, Inc. has announced that it has secured commitment to a $50 million financing for its earlier publicized scrubber retrofit project, subject to final documentation. The financing is structured through an increase of the existing $300 million secured credit facility entered into in the second quarter of 2017.  The increased facility will bear the same interest rate equal to Libor + 2.40 percent. The increased facility is available immediately and will have quarterly repayments of $2.5 million commencing second...

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Credit: EJF

Thailand Publishes Fishing Vessels Lists

By MarEx 2018-09-24 21:45:51

Thailand has become one of the first countries in Southeast Asia to publish a full list of all its registered and licensed fishing vessels, alongside a watchlist containing vessels prohibited from fishing. Making such information freely available is a crucial step in eradicating illegal fishing and human rights abuse in the industry, and marks Thailand out in the region for taking this progressive step, says the Environmental Justice Foundation (EJF). Much of the fishing industry is at best opaque, and...

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Silvia Mera

Silvia Mera to Speak at Maritime Human Rights Conference

By MarEx 2018-09-24 21:37:12

Human Rights at Sea is delighted to present Silvia Mera, another speaker for the International Maritime Human Rights Conference 2018. Mera is Program Director at the Mekong Club, where she coordinates and supervises anti-trafficking projects and a 32-member strong association of businesses. Silvia works with multinational corporations from several sectors, advising them on their anti-trafficking policies and practices. She is also involved in regional activities with partners such as the UN, and delivers training and presentations on the topic both...

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Trump and Moon

U.S. and South Korea Agree Auto Trade Deal

By MarEx 2018-09-24 19:46:12

U.S. President Donald Trump and South Korean President Moon Jae-in have signed a new trade agreement designed to increase U.S. auto exports. Under the old U.S.–Korea Free Trade Agreement (KORUS) signed in 2012, Trump says the U.S. trade deficit skyrocketed from $6.3 billion to $9.8 billion by 2017. Under the new arrangement, South Korea will double the annual number of American automobiles that can enter its market using U.S. safety standards. South Korea has also agreed to address issues with...

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Traders Warn of Oil Price Spike Due to Iranian Sanctions

By MarEx 2018-09-24 19:12:45

Oil traders with Mercuria and Trafigura warned Monday that U.S. sanctions on Iran could take two million barrels of crude per day off the market, leading prices to spike as high as $100 per barrel by the end of the year. J.P. Morgan predicted  a slightly smaller supply reduction of 1.5 million bpd and a price rise to $85-90 per barrel.  In a statement, J.P. Morgan analysts said that "the main driver of this revision is a higher estimate of...

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CMA CGM Bougainville

CMA CGM Puts Price on 2020 Compliance

By MarEx 2018-09-24 19:05:52

Container shipping giant CMA CGM believes that compliance with the 2020 sulfur cap will involve and additional average cost of $160 per TEU, based on current conditions. The new IMO cap, effective January 1, 2020, will require all shipping companies to reduce their sulfur emissions by 85 percent, and CMA CGM is planning a mixed approach with the use of low sulfur fuel, the use of LNG for nine new ships it has on order and some scrubber retrofits. The...

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Credit: BP

Energy Majors Collaborate on Human Rights

By MarEx 2018-09-24 18:31:21

The CEOs of BP, Equinor, Shell and Total have agreed to join forces on human rights in their supply chains.  The objective of the initiative is to create an industry framework for human rights supplier assessments. Results of conducted assessments will be shared with the participating companies through an independent third party. Work is currently ongoing to establish the assessment criteria and sharing mechanism.  The desired outcome is to make it easier and more efficient for suppliers to demonstrate how...

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Credit: Dutch Dredging

Dutch Dredging Welcomes Two New Vessels

By MarEx 2018-09-24 18:12:44

The dredging contractor Dutch Dredging welcomed two new vessels to its fleet last week during the naming ceremonies for the Papillon and the Fregate. Both vessels will go to work in the ports of Cayenne and Kourou in French Guiana. The newcomers were delivered to Boer Remorquage SARL, a joint venture involving Dutch Dredging and Iskes Towage & Salvage. The investment is a response to the 12-year contract that the consortium signed in 2016 with the Grand Port Maritime de...

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DESMI Ocean Guard’s CompactClean Receives IMO Type Approval

By MarEx 2018-09-24 18:06:48

DESMI Ocean Guard A/S is pleased to announce that the CompactClean Ballast Water Management System (BWMS) has received IMO Type Approval according to the revised IMO BWMS code. This approval means that the CompactClean BWMS becomes one of only two systems worldwide approved for installation on vessels also after 28 October 2020. On 21 September 2018 DESMI Ocean Guard’s CompactClean Ballast Water Management System (BWMS) received IMO Type Approval according to the IMO Code for Approval of Ballast Water Management...

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Ardmore Seavaliant

Optimarin Expertise Secures Huge Ardmore Order

By MarEx 2018-09-24 17:48:44

Optimarin has secured one of its biggest orders to date with the news that the ballast water treatment (BWT) specialist has been selected to supply 36 systems to Ardmore Shipping. The units will be fitted across 18 advanced chemical and product tankers, with delivery due to commence in February next year.  Ardmore, an established leader in its niche, will fit two Ex approved units in each vessel. The Irish-headquartered firm was attracted by Optimarin’s simple, reliable and easy to install...

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