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DONG Energy Narrows IPO Pricing Range

Photo: DONG Energy

Danish utility and offshore wind farm developer DONG Energy has narrowed the price target for the company's share sale in Copenhagen, cutting off the top end of range, one source with direct knowledge to the matter said.   The price range has been narrowed to 225 Danish crowns and 235 crowns ($34.39-$35.92) from an earlier target of 220-255 crowns.   "A message was sent to investors on Tuesday night that they are at risk of not getting any shares granted if they place orders in the low end of the new price range," the source said.   Shares in DONG Energy are set to trade on the bourse in Copenhagen on Thursday. The top of the range would value the company at 98.2 billion Danish crowns ($15 billion), potentially making it Europe's biggest initial public offering this year.   ($1 = 6.5421 Danish crowns) ($1 = 6.5428 Danish crowns) (Reporting by Ole Mikkelsen, editing by Jacob Gronholt-Pedersen and Louise Heavens)


Port Valdez and Valdez Narrows – security zones

The U.S. Coast Guard issued a temporary rule extending through October 31 its security zone encompassing the Trans-Alaska Pipeline (TAPS) Valdez Terminal Complex and TAPS tank vessels and a second security zone in the Valdez Narrows. Comments on this action should be submitted by June 30. 69 Fed. Reg. 28827 (May 19, 2004). The U.S. Coast Guard also issued a proposal to make these security zones permanent. Comments on this proposal should be submitted by July 30. 69 Fed. Reg. 28871 (HK Law)


Supertankers Pose No Danger to Bay of Fundy

Proponents of a controversial liquefied natural gas plant in Maine say a study ordered by the Canadian government has found there is no reason to ban supertankers from the Bay of Fundy, as Ottawa has threatened to do if the U.S. approves the project. Downeast LNG said the environmental study found there were no immediate risks of having LNG supertankers go through the Bay of Fundy, part of which is split by the New Brunswick-Maine border, to the proposed plant.


Alaskan Cruises a Success

Photo credit American Cruise LInes

American Cruise Lines’ first Alaskan cruises aboard 'American Spirit' applauded American Cruise Lines  announce that its inaugural season in Alaska aboard the American Spirit has begun, with its opening 11-night Seattle-to-Juneau cruise having just been successfully completed. Weekly roundtrip cruises from Juneau will now run through early September. Featuring a complimentary shore tour package and pre-cruise hotel stay


World Economy Poised for Faster Growth Says Oil Report

The prediction comes from NYC-based PIRA Energy Group in its latest 'Oil Market Recap', as follows: The world economy is set for faster growth now that it has achieved escape velocity. Current low oil inventories and stock declines are supporting strong prices. Key light product inventories are low, with distillate vulnerable to a spike with very cold weather. Brent-Dubai will be fairly wide in January and February before narrowing sharply in April


Russian Navy Blocks Channel Between Crimea, Russia

Reuters - Russian navy ships have blocked off the Kerch Strait which separates Ukraine's Crimea region and Russia, the Ukrainian border guard service said on Tuesday. The border guards have said that Russian servicemen are in control of the Crimean side of the narrow channel and that Russian armoured vehicles have been sighted on the Russian side. "The Kerch Strait is blocked by two Russian ships - from the north and from the south," Pavel Shishurin


Brisbane Marine Pilots Train at MSI-Newport

Stephen Cummings and David Harris of the Brisbane Marine Pilots attended an Emergency Shiphandling course conducted September 13-17, 2004, at MarineSafety International's simulator training complex in Newport, RI. Topics covered included ship maneuvering in narrow channels and docking operations in tight quarters under difficult circumstances of wind and current. The pilots were also able to practice procedures for employing escort tugs using a computer model of the port of Brisbane


Shell Employs Concordia P-MAX Tankers

Photo: Concordia Maritime

Concordia Maritime has signed an agreement with Shell Tankers Singapore Private Ltd. covering the employment of the P-MAX tankers Stena Penguin and Stena Progress. “Generally speaking, the product tanker market is developing well and in accordance with our planned fleet disposition. We are of course happy to have concluded this business,” said Kim Ullman, CEO of Concordia Maritime. The Stena Penguin (built in 2010) and the Stena Progress (built in 2009) are 2 of the ten


Two Rescued from Vessel Taking on Water

The crew of the U.S. Coast Guard Cutter Anacapa rescued two men from a vessel taking on water approximately one mile southwest of Petersburg, Alaska, Tuesday. A smallboat crew from the Anacapa took the 24-foot pleasure craft Deborah K under tow and safely transported its passengers to the port in Petersburg. Coast Guard command center watchstanders at Sector Juneau received a call from passengers aboard the Deborah K reporting they had struck a rock and were taking on water near Wrangell


Bosphorus Strait Closed after Vessel Allides with Villa

A cargo ship ran aground and smashed into a villa on Turkey's Bosphorus Strait on Tuesday, forcing maritime authorities to close the key waterway to transit traffic, shipping agency GAC said. The 105 metre Sierra Leone-flagged Majed & Randy had no pilot on board when it suffered a rudder malfunction before hitting the villa, located on the Asian side of the waterway near Istanbul's Fatih Sultan Mehmet Bridge, GAC said.


Search on for Missing Boaters in AK

Courtesy USCG

The Coast Guard is searching for two men reported overdue from a boating trip near Ketchikan Sunday. Coast Guard Air Station Sitka MH-60 Jayhawk crews and Coast Guard Station Ketchikan 45-foot Response Boat - Medium crews are conducting search patterns on the southern end of Gravina Island.


Tug Grounding Causes Fuel Spill in Alaska

Emergency personnel continue their response to the tug boat Samson Mariner which ran aground and spilled fuel while towing a barge in the vicinity of Rosa Reef in north Tongass Narrows, Alaska, Wednesday evening.   Approximately 1,100 gallons of diesel spilled from the tug prior to being


Damaged Tug Heads to Seattle for Repair

The U.S. Coast Guard said it has green lighted a transit plan for the damaged tug Samson Mariner to head south from Ketchikan, Alaska for repairs in Seattle. The vessel departed on Tuesday accompanied by an escort tug.   Samson Mariner was damaged and spilled approximately 1


Safe Bulkers Reports 4Q Loss

Photo: Safe Bulkers

 Greece-based Safe Bulkers (SB) has reported a loss of $4.6 million in its fourth quarter. On a per-share basis, it has a loss of 9 cents.   Net revenues for the fourth quarter of 2016 increased by 6% to $31.7 million from $29.9 million during the same period in 2015.   


PetroChina, Unipec to Lift 2 mln bbls U.S. crude in December

File Image: a typical VLCC underway. CREDIT EuroNav

Chinese state-owned oil traders PetroChina and Unipec have chartered ships to load more than 2 million barrels of U.S. crude oil in December, three sources with knowledge of the matter said on Friday. The shipments come on top of nearly 3 million barrels that BP has sent to Asia as oil traders


ETE's 80th Anniversary crowned by International River Operations

Luis Figueiredo (Shareholder) Ana paula Vitorino (Minister of the Sea) Marcelo Rebelo de Sousa (President of Portugal) Luís Nagy (GRUPO ETE CEO) Filipa P de Carvalho (Shareholder) Photo ETE Group

The business portfolio internationalization and the development of river operations are two of ETE Group’s strategic focus, as referred last Friday on the 80th birthday ceremonies at Naval Rocha shipyard (in Lisbon) with the presence of the President of Portugal, Marcelo Rebelo de Sousa


Great Ships of 2016: NYK Blue Jay

(Photo: NYK)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.” NYK Blue Jay - Propulsion “World First”


Boxship Collision Causes Oil Spill on Singapore-Malaysia border

Nearly 300 tonnes of oil spilled into the narrow strait separating Singapore and Malaysia after a collision between two container vessels, the Singapore Marine Port Authority (MPA) said on Wednesday.   There were no reports of injuries and 12 anti-pollution craft had been sent to clean up


China's Flattop "Tests Weapons" in South China Sea

A group of Chinese warships led by its sole aircraft carrier is testing weapons and equipment in exercises this week in the South China Sea that are going to plan, China's foreign ministry said Wednesday.   Exercises by the ships, in particular the aircraft carrier Liaoning


Start of 2017 Looks Rocky for Asian Tankers

© Carabay / Adobe Stock

Dirty Tankers Asia’s crude tanker market faces the double whammy of a flood of newbuild deliveries and a cut in OPEC production in Q1 2017. On the supply side, net capacity growth is estimated to be around 5 percent for VLCCs, 9.6 percent for Suezmaxes and 7 percent for the Aframaxes/LR2


Norwegian Shipping Firm Denies Polisario Accusation of Illegal Shipment

A Norwegian shipping firm on Thursday denied a tanker it manages had violated a European court ruling after Western Sahara's Polisario movement accused it of illegally transporting an oil cargo through disputed territory it claims. The Polisario independence movement this week called on the


Samsung Heavy Trims Operating Loss for 2016

Photo: Samsung Heavy Industries

 Samsung Heavy Industries (SHI), South Korea's second largest shipbuilder,  has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction.   SHI ended the year with an operating loss of KRW 147


Old Ships, Not Enough New Tricks?

Graph: Clarkson Research

 As widely expected, the opening of the new, expanded locks at the Panama Canal in June 2016 has considerably impacted the ‘old Panamax’ containership sector, says a report by Clarkson Research Services.   The displacement of these narrow beam vessels


Scorpio Bulkers Narrows Loss

Photo: Scorpio Bulkers

 Scorpio Bulkers has its loss narrowed to $124.8 million, or $2.22 per share for the year ended December 31, 2016, compared with a net loss of $510.7 million  seen in the same period a year earlier.   However, it  reported a loss of $20


Improved Demand Easing Dry Bulk Vessel Oversupply

An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds Drewry

With contraction in vessel supply and healthy demand growth, the dry bulk shipping market is expected to recover from 2017 onwards, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.






 
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