Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding frequency by at least 30%. Grounding is the third most frequent accident involving ships larger than 100GT and the fourth highest contributor to marine fatalities at 12%. Offering a leasing option is crucial to give shipowners the opportunity to increase safety and limit risk immediately. Early adopters also benefit from crew having longer to become accustomed to using ECDIS, allowing them to become competent and confident without the pressure of IMO’s deadline.” Martek believes early ECDIS adoption also offers savings in time and cost over paper charts, eliminating the logistical challenge of having paper charts delivered to ships and the time required to manually update them. Furthermore, route planning using current weather and tidal data can cut transit times and save fuel. They said, shipowners who lease, rather than buy, benefit from their ships always having the most advanced ECDIS systems as the difference between a two and five year old system can be significant due to technological developments.
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand? Is ownership of the vessel through a loan structure
Radix Marine, Inc, a marine vessel development company specializing in homeland defense initiatives, announced today that it has entered into an agreement to acquire, through an Equipment Lease and Purchase Agreement, the GB Challenger Class Craft, the working prototype of the company's high-speed unmanned patrol watercraft. Radix Marine will own the GB Challenger outright at the conclusion of the five-year lease with Blue Ribbon Leasing and Financial, Inc
The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. The FSEIS updates the Bureau of Ocean Energy Management’s (BOEM) estimates of the full range of production levels from offshore oil fields that might be developed in the Chukchi Sea as well as the related potential environmental
Alphatron Marine has signed a lease contract with Seacontractors for no less than 11 vessels to provide satellite hardware and data solution packages. Alphatron Marine’s VSAT system will be installed alongside the existing IT infrastructure on nine Seacontractors B-Class workboats and two A-Class workboats, consisting of Anchor Handling Tug Supply (AHTS) and Multicats, mainly operating in Western Europe and the Middle East.
As part of the Obama Administration's Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Bureau of Ocean Energy Management (BOEM) announced today that it is seeking public comment as it prepares an Environmental Assessment (EA) to analyze potential impacts from proposed wind energy research activities offshore Virginia. The Virginia Department of Mines
The Northern Territory (NT) Government in Australia announced the successful bidder for the Port of Darwin – Landbridge Group, based in the People’s Republic of China. Chinese privately owned energy and infrastructure conglomerate Landbridge Group has won a $A506 million bid to run Australia's Port of Darwin for 99 years, NT's Chief Minister Adam Giles announced. Under the terms of the agreement
In the August 9, 2002, Federal Register, the Coast Guard publishes a Supplemental Notice of Proposed Rulemaking to solicit further comment on its previous NPRM entitled, "Vessel Documentation: Lease-Financing for Vessels Engaged in the Coastwise Trade." The regulations implement a 1996 federal law codified at 46 U.S.C. 12106(e), which was designed to enlarge vessel financing sources by allowing lease financing to be offered by companies which are less than 75% U.S.-owned
The Conferees on the Defense Authorization Bill, S.1059, for fiscal year 2000 wrapped up their conference after providing "Extended Lease" authority of 20 years or more to the Secretary of the Navy for the services of non-combatant ships, and rejecting an attempt by Senator John McCain (R-AZ) to repeal the three-year waiting period before foreign-built ships are eligible to carry preference cargo. The House Armed Services Committee has been working for three years to provide the Secretary of
Transport Canada informs that the Honourable Lisa Raitt, Minister of Transport, has spoken of the important role Canada's marine ports play in supporting trade and economic growth in a speech to the 56th annual conference of the Association of Canadian Port Authorities, hosted by the Belledune Port Authority. Building on this year's conference theme of 'Anchors Away', Minister Raitt highlighted the opportunities and challenges in global shipping for Canada's ports
Last month, a large cruise ship completed its inaugural cruise through the Northwest Passage. The historic journey brought nearly 1,700 passengers from Seward, Alaska, past the rugged wilderness and isolated villages of the Arctic, to the concrete jungle of New York City
TraPac, LLC has reached agreement to nearly double its marine terminal size at the Port of Oakland. Wilmington, CA-based TraPac said today it plans to lease an additional 57 acres and two vessel berths on the Port’s Outer Harbor.
China’s COSCO Shipping Development Co Ltd announced a proposed nonpublic issuance of about 3.28 billion shares to specific investors, including its parent company, to raise up to 12 billion yuan ($1.79 billion), reports China Daily.
Norwegian Cruise Line will commence a new era of Alaska cruising beginning June 2018, as the company announced today that its next new vessel, Norwegian Bliss, will be custom-built with features and amenities for Alaska cruising. Norwegian Bliss will cruise to America’s Last Frontier from
Trafigura has sold five oil vessels to a unit of China's Bank of Communications , ending the trading house's move into owning tankers, the company said on Friday. Under the deal, the five medium-range tankers, ordered by Trafigura in 2013 from a shipyard in China
Two years on from the launch of the Ulstein Group’s X-STERN design at the ONS 2014 maritime exhibition in Stavanger, the first vessel to feature the innovative hull line has entered service at the Gemini offshore wind farm. The newly built Windea La Cour incorporates the X-STERN: a
Marine News contributor Robert Kunkel asks: Are we ready to support the farms? On August 19, 2016, we watched as the fifth tower and associated nacelle was raised on the Deepwater Offshore Wind Farm approximately 3 miles offshore of Block Island, Rhode Island
Offshore energy presents a golden opportunity for Alaska and the United States. As we enter the final quarter of the year, one of the last and most pressing pieces of business facing the Interior Department is to finalize its next offshore leasing program
Clarksons Research takes a look at Asian shipping finance that has increased in prominence globally with finance from the traditional lending base more difficult for many to access since the global financial crisis. Within this wider trend
Cash from top shareholder, executives should cover offload costs. South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line.
Governor Terry R. McAuliffe on Wednesday announced that The Port of Virginia has signed a new, long-term lease for Virginia International Gateway (VIG) that clears the way for the port to begin work on doubling capacity at the deep-water container terminal.
The Port of Virginia rewrote its record books once again, having handled 235,511 TEUs (twenty-foot equivalent units) in August, making it the single busiest month in the port’s history. In comparison with last August, TEU volumes are up 7 percent; rail units up 20 percent and truck volume
Seaspan Corp chairman and ceo Gerry Wang has described the bankruptcy of South Korea’s biggest container line Hanjin Shipping Co as the industry’s equivalent of the Lehman Brothers collapse that triggered the global financial crisis, reports Bloomberg.
A new collaborative strategic plan has been published today which aims to continue accelerating the development of offshore wind energy in the United States. Announced by U.S. Secretary of Energy Ernest Moniz and U.S. Secretary of the Interior Sally Jewell, the plan
SBM Offshore stated that FPSO Turritella is formally on hire as of September 2, 2016 after achieving Commencement of Commercial Production (CoCP). The CoCP certificate was issued on September 8, 2016. The vessel is installed in Shell's Stones development located in 2,896 meters (9