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Exhibit 2020

The latest news about the Project Cargo Industry

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2020 has started tumultuous with a nosedive in fuel costs, weaker freight rates and the unexpected coronavirus outbreak. To report on these developments as accurately as possible and have a better understanding of what keeps our readers busy, Project Cargo Journal is executing a survey among our readers.  The results will be used to provide… Read more ›

Fuel prices take a massive nosedive

Fuel prices have taken a massive nosedive since the beginning of the year with low sulphur fuel prices in Singapore dropping from USD 734 per tonne on January 1st to USD 415 per tonne today. The price drop comes at a good time as the transport and logistics industry is struggling with low demand as… Read more ›

Zeamarine closes offices in Denmark

Zeamarine is closing its operations in Denmark. The Danish subsidiary has filed for bankruptcy resulting in the closure of two offices and 23 employees being sent home, confirms local liquidator Hafnia Law. The German breakbulk carrier has two offices in Denmark, one in Naevsted and one in Aarhus, but both offices have now been closed… Read more ›

Manager loses contact with general cargo vessel after pirate attack

Chinese vessel manager Tianjin Xinhai International Ship Management has lost contact with its general cargo vessel Huanghai Glory after the vessel sent a piracy alert using its Ship Security Alert System (SSAS).  An unknown number of pirates are believed to have boarded the vessel, which is currently drifting off the coast of Nigeria. The vessel’s… Read more ›

Siemes preferred supplier for Germany’s largest offshore wind farm

PRESS RELEASE – Ørsted has named Siemens Gamesa as the preferred turbine supplier for two offshore wind power projects in the German North Sea totalling more than 1.1 GW in capacity. The award concerns the 242 MW Gode Wind 3 site and the 900 MW Borkum Riffgrund 3, which will be the biggest offshore wind… Read more ›

Nirint Shipping adds two multipurpose vessels to its fleet

PRESS RELEASE – Dutch shipping company Nirint Shipping has expanded its fleet with two 17,000 dwt multipurpose vessels, the Augusta Luna and Augusta Star. They will replace two container vessels on the company’s Europe- Caribbean-Canada-Europe Liner Service.  The vessels are equipped with cranes and have a lifting capacity of up to 300 tonnes. They are… Read more ›

Jumbo: “No evidence cranes came into contact in Rostock incident”

With the salvage operation of the Liebherr cranes that sunk in Rostock Port underway, the investigation into the cause of the accident is still ongoing. ‘Although a very complex matter, there is currently no evidence to suggest the Jumbo Vision’s cranes came into contact with the cranes loaded on board,’ says Jan Hein Reeringh, Communication… Read more ›

Penta-Ocean orders new installation vessel with PaxOcean

PRESS RELEASE – Japanese offshore contractor Penta-Ocean Construction has placed an order for a new installation vessel with the PaxOcean Group. The GustoMSC design self-elevating platform will be equipped with a 1,600-tonne main crane and be used to build offshore wind farms in Japan.  Scheduled for completion in Q3 2022, the self-elevating platform is of… Read more ›

Roll Group continues Asia expansion with own yard

Roll Group has signed a contract with Bintan Offshore Marine Center (BOMC) to help develop a large offshore centre on the Indonesian island Bintan, where the company will ultimately also create its own operations and maintenance base for the APAC region.  BOMC is a new purpose-built greenfield development in close proximity of Singapore. When fully… Read more ›

Tidewater to dispose of nearly 50 vessels this year

Offshore supply vessel operator Tidewater plans to dispose of 46 vessels in an attempt to improve its balance sheet. Despite improving market conditions and a 20% hike in revenue, the company recorded a net loss of USD 141.7 million in 2019.  Revenue for the year amounted to USD 486.5 million reflecting an increase of 20%… Read more ›

Fred. Olsen joins competitors in crane capacity expansion

Fred. Olsen Windcarrier becomes the latest offshore contractor to invest in bigger cranes in anticipation of the new generation of wind turbines that are set to hit the market in 2021. The company has ordered a 1,600-tonne leg encircling crane with Huisman Equipment which will be the tallest in the market.  The new crane will… Read more ›

Allseas ventures into deepsea mining

PRESS RELEASE – Allseas has acquired the former ultra-deepwater drillship Vitoria 10000 for conversion into a polymetallic nodule collection vessel. The vessel will be used to collect nodules that contain nickel, manganese, copper and cobalt from the seabed. These metals can be used to manufacture electric vehicle batteries and renewable energy technologies, the company states. … Read more ›

Exhibit 2020