South Korea further expands Busan port

Busan New Port announced on 29 April that it will get an additional 15 berths to increase its annual container handling capacity by 15.8 million teu.
The South Korean government will oversee the expansion, which will comprise container terminals, feeder terminals, and multipurpose terminals.

Gothenburg Introduces Oil Spill Robot

By Wendy Laursen 2015-04-30 00:53:35 A new robot has been introduced at the Port of Gothenburg in Sweden to deploy booms in the event of an oil spill. The new technology is designed to improve the speed and safety of spill response operations. The Port of Gothenburg is home to the largest energy port in…


China COSCO narrows loss in 1Q15

China COSCO Holdings managed to narrows its loss by 45% year on year (y/y) to CNY1 billion (USD161.2 million) in the first quarter of 2015 because of decreased losses incurred by scrapping of old tonnage.
In the first three months of 2015, China COSCO scrapped six container ships and 16 bulk

New Scheme Tackles DP Fraud and Specialization

By Wendy Laursen 2015-04-30 00:24:59 The Nautical Institute (NI) has launched a new online platform to handle accreditation for dynamic positioning operators. The move comes after changes effective this year to the training scheme and standards required by dynamic positioning operators (DPOs). However, not everyone is satisfied with the new arrangements. The Alexis Platform (…


Vale denies mega-order report

Brazilian iron ore giant, Vale, has disputed a published report that it could lease 50 very large ore carrier (VLOC) newbuilds, more than double its previously stated plans.
The Wall Street Journal (WSJ) reported on 29 April that Vale was in talks to lease around 20 VLOC newbuilds from China COSCO

Tauranga still clearing oil spill

Clean-up operations to remove oil from Port of Tauranga and the New Zealand harbour’s inner waterways continue after an oil spill on 27 April.
The Bay of Plenty Regional Council’s oil response team reported an unknown quantity of heavy fuel oil spilled into the harbour from a leaky Mobil pipeline

WWF says Oceans Worth $24 Trillion

By MarEx 2015-04-29 20:11:02 The ocean’s wealth rivals those of the world’s leading economies, but its resources are rapidly eroding, according to a new World Wildlife Fund (WWF) report. The analysis, Reviving the Ocean Economy: The Case for Action, conservatively estimates the value of key ocean assets to be at least $24 trillion. If compared…