Maersk-Backed Blockchain Platform for Marine Insurance Launched

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

May 25, 2018 A new marine insurance blockchain platform backed by Maersk Group has been launched today to support marine hull insurance. Named Insurwave, the platform has been built by a joint venture between EY and Guardtime and leverages blockchain and distributed ledger technologies Microsoft Azure infrastructure and ACORD data standards. The platform is planned […]

Total Takes 10 Pct Stake in Novatek’s Arctic LNG 2 Project

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

May 25, 2018 French oil and gas company Total has signed an agreement with Russian counterpart Novatek to acquire a direct working interest of 10 pct in Arctic LNG 2, a giant liquefied natural gas project led by Novatek on the Gydan Peninsula in Russia. Total, which has been present in Russia for almost 25 years, […]

Maersk Line, MSC Resort to Emergency Bunker Surcharge amid Rising Bunker Prices

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

May 24, 2018 Danish liner company Maersk Line has decided to introduce an Emergency Bunker Surcharge (EBS) as a way of coping with the rising bunker prices. “The increase in bunker price in 2018 has been significantly higher than what had been expected and has now reached a level of 440 USD/ton in Europe, the highest […]

HMM Pulls Out from Transatlantic

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

May 24, 2018 South Korean shipping company Hyundai Merchant Marine (HMM) is ending its two Transatlantic loops to concentrate on its core trades. “HMM will no longer serve the Transatlatic trade until further notice,” HMM informed in a customer advisory. The company said that the two loops linking North Europe to the United States were being […]

Euroseas’ Dry Bulk Business Spin-Off Gets the All Clear

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May 24, 2018 Greek shipowner Euroseas announced that it has received regulatory approval to spin off its drybulk fleet into a separate company named EuroDry Ltd. The company added that the application of EuroDry Ltd. for listing on the NASDAQ Capital Market under the symbol “EDRY” has been approved. EuroDry is a middle range drybulk owner that owns […]

Africa’s busiest bellyhold routes revealed

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May 22, 2018 The ten busiest passenger air routes, which translates into the ten busiest bellyhold routes, in Africa have been revealed in a new study conducted by Routes, organizer of the world’s leading aviation network development conferences and events. The research has found that the South African domestic flight between Cape Town and Johannesburg’s […]

Royal Brunei speeds up London services

Posted By Tony Sanchez / Airlines / 0 Comments

May 22, 2018 Royal Brunei Airlines is to launch of daily non-stop flights between London Heathrow and Brunei International Airport, effective October 28 2018. The non-stop flight to Brunei, a result of the airline dropping its Dubai stopover, will see route reduced from 18.1 hours to 14.6 hours and the Melbourne-Brunei-London Heathrow route reduced to […]

Piracy Attacks off East Africa Doubled in 2017

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May 22, 2018 The number of piracy incidents doubled off the coast of East Africa in 2017 compared to 2016, according to the annual State of Piracy report released today by One Earth Future’s (OEF) Oceans Beyond Piracy program. The report analyzes the human and economic impacts of maritime piracy and robbery at sea in […]

IMO MSC Approves New Ship Routes in Kattegat, Skagerrak

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May 22, 2018 The IMO Maritime Safety Committee (MSC) has approved a joint Danish-Swedish proposal for new ship routes in Kattegat and Skagerrak. As informed, the work is already in progress and the new routes will be in place from July 1, 2020. The proposal by Denmark and Sweden had been first approved by the IMO Navigation, […]

GoodBulk Bets on Capesize Market Rebound

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May 22, 2018 Monaco-based dry bulk shipping company GoodBulk wrapped up the first quarter of 2018 in the black with a net profit of USD 9 million. The earnings were boosted by a net capital gain of USD 5.4 million from the M/V Aquabeauty’s sale. The first months of the year were very busy as […]