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OCEAN FLEET

Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades. Golden Ocean, controlled by shipping tycoon John Fredriksen, said its made a net loss of $75.3 million in the first quarter, below expectations for a loss of $27 million, the result was weighed down by a $141 million impairment charge on its vessels. Excluding the impairments, the firm made an EBITDA loss of $3.6 million, not far from forecasts for a $1 million loss. Its shares were trading 3.13 percent lower at 32.84 Norwegian crowns at 0821 GMT. The dry bulk shipping market has suffered a deep downturn in recent months as China cut its first-quarter coal imports by 42 percent and markets expect its coal imports to stabilise at the reduced level. "The dry bulk market has remained weak so far in the second quarter; consequently the revenues of Golden Ocean are expected to remain low in the second quarter," the company said in a statement. The majority of Golden Ocean's fleet is exposed to the spot market or on time charter contracts linked to the spot market which means results will continue to correlate with spot rates. "The utilisation of the dry bulk fleet was hovering around 80 percent during the quarter and earnings were at levels not experienced since the mid 1980s," the company said.


Tank Barge Report

Currently, Marcon International, Inc., the ship sale & chartering firm, has 62 inland tank barges available for sale, down from 124 in June 1996. Most of these are typical U.S. inland river units of approximately 30 years of age (vs. an average active U.S. inland fleet age of 24 years). Marcon also has listed and available for sale a total of 41 ocean and coastwise barges compared with 50 in June 1996. Most of these are older single skin units.


Tank Barge Report

Currently, Marcon International, Inc., the ship sale & chartering firm, has 62 inland tank barges available for sale, down from 124 in June 1996. Most of these are typical U.S. inland river units of approximately 30 years of age (vs. an average active U.S. inland fleet age of 24 years). Marcon also has listed and available for sale a total of 41 ocean and coastwise barges compared with 50 in June 1996. Most of these are older single skin units.


Godby Shipping Rolls Out Wired Ocean Across Fleet

Wired Ocean, a solution to broadband internet at sea has been installed aboard the entire Godby Shipping fleet. The seven vessel installation of the unique system, which commenced in September 2007 was carried out by Telemar and completed when the final vessel in the fleet, Miranda, took delivery of the system in February 2008. Wired Ocean is a marine broadband system, designed to deliver shore to ship data via a vessel's satellite TV antenna


NOAA's 15-Year Plan to Invest in Ships

NOAA has completed a detailed plan to modernize its marine operations  by replacing nine research ships and refurbishing a tenth in the next  15 years. “Sea-going vessels are a key source of observational data used by NOAA  scientists. A modern, more capable fleet will ensure we can meet the  ever changing demands of the science community,” said retired Navy  Vice Admiral Conrad C. Lautenbacher, Jr., Ph.D., under secretary of 


Ocean Safety to Supply Complete RNLI Liferaft Fleet

Back row from L-R: Shaun Botha, Commodity Buyer, RNLI; Allen Stevens, Senior Engineer, RNLI, Mandy Boughton, Business Development Manager, Ocean Safety; Front row from L-R David Brook, Director RNLI, Charlie Mill, MD, Ocean Safety

U.K. independent marine safety equipment supplier Ocean Safety was selected by the RNLI to carry out a wide reaching replacement program for all their current liferafts in an operation that will take up to three years. The Ocean Safety ISO liferaft will become the liferaft of choice on every RNLI all weather lifeboat, following a rigorous selection program in which Ocean Safety had to produce innovative solutions to the RNLI’s requirements to exceed their own high safety standards for


Xantic To Offer Fleet 33, Fleet 55 Services Globally

Xantic has become the first company to announce the availability of the new Fleet 33 and Fleet 55 services. Last Friday a contract was signed with Nera for upgrades of both Xantic Land Earth StationsLES’s in Holland (Burum) and Australia (Perth). The services will be available early April and will be provided in the 4 Ocean regions. At the same time Xantic’s Fleet 77 service will be enhanced by the addition of a 9.6k fax channel.


Knightsbridge and Golden Ocean to Merge

Golden Ocean’s capesize bulker, Channel Navigator. Image courtesy Golden Ocean

  Knightsbridge Shipping Limited and Golden Ocean Group Limited have today entered into an agreement and plan of merger pursuant to which the two companies have agreed to merge, with Knightsbridge as the surviving legal entity. The Combined Company will be renamed Golden Ocean Group Limited upon completion of the merger. As a result of the expected merger, the Combined Company would become one of the world's leading dry bulk companies with a modern fleet of 72 vessels


Golden Ocean and Knightsbridge Complete Merger

Image courtesy of Golden Ocean

  The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company, which will be called Golden Ocean Group Limited, will be one of the largest dry bulk shippers in the world, operating a fleet of 72 vessels, 34 of which are new buildings.      The merger was first announced in October and will allow John Fredriksen


The Emirati Crew Leads Volvo Ocean Race

Photo: Volvo Ocean Race

 Abu Dhabi Ocean Racing had the Volvo Ocean Race trophy within their grasp as the seven boats entered the final lap on Saturday heading for Gothenburg after a one-day ‘pit-stop’ in The Hague, reports the Khaleej Times.   The Emirati crew, skippered by Briton Ian Walker, has an eight-point lead in the nine-month offshore sailing marathon and would need to finish last in the leg and accrue two penalty points to lose that advantage.  


Demand Rising for Cyrogenic Valves in Marine Sector

Photo: Bestobell

UK-based manufacturer of cryogenic valves Bestobell Marine said it has seen a major increase in demand for its cryogenic valves from the marine sector in the U.S. This is largely due to the new Emissions Control Areas (ECA) which is increasing the number of dual-fuel vessels being commissioned


Shipping Lines Cut CO2 Emissions

Graphics: 2014 – 2015 Highlights: CCWG’s data-collection process for 2014 show

 The container carriers have managed to reduce their combined CO2 emissions by around one third since 2009, according to a new report.   Average CO2 emissions per container per kilometer for global ocean transportation routes have declined by 8


Shippers Cannot Relax Their Guard in SE Asia -MAST

Following a spate of six attacks in the Singapore Straight over the weekend, maritime security provider MAST is calling for shipping companies to strengthen their approach to maritime security in South East Asia.   “Shipping companies need to look at Best Management Practices (BMP) 4


MN 100: Bouchard Transportation

Bouchard 1.jpg

The Company: Bouchard Transportation’s history dates back to its incorporation in 1918 by founder, Capt. Fred Bouchard, the youngest tugboat captain in the Port of New York. Bouchard is a family owned business and the nation’s largest independently-owned ocean-going petroleum barge


Examining the Fate of Fukushima Contaminants

Researchers deployed time-series sediment traps 115 kilometers southeast of the nuclear power plant at depths of 500 meters and 1,000 meters. The two traps began collecting samples on July 19, 2011—130 days after the March 11 earthquake and tsunami—and were recovered and reset annually. (Makio Honda, Japan Agency for Marine-Earth Science and Technology)

A fraction of buried, ocean sediment uncovered by typhoons, carried offshore by currents   An international research team reports results of a three-year study of sediment samples collected offshore from the Fukushima Daiichi Nuclear Power Plant in a new paper published August 18, 2015


Treasure Hunters Find $4.5 mln in Rare Spanish Coins

Photo: 1715 Fleet - Queens Jewels, LLC

Florida treasure hunters found a trove of $4.5 million worth of Spanish gold coins 300 years to the day after a fleet of ships sunk in a hurricane while en route from Havana to Spain, the salvage owner said Wednesday.   The 350 coins found on July 30 include nine rare pieces


Ill Merchant Seamen Dies at Sea

A team of four Guardian Angel pararescuemen from the 129th Rescue Wing, Moffett Federal Airfield, Calif., parachutes to the Green Ridge container ship during an over-water rescue mission Aug. 18, 2015.

A multiagency rescue operation to help a seriously ill merchant sailor aboard a cargo ship in the Pacific Ocean was cancelled Wednesday morning after the man was declared deceased, the U.S. Coast guard announced.   Tuesday, at approximately 9:50 a.m


Hapag-Lloyd IPO Sooner than Planned

Photo: Hapag-Lloyd

 German ocean carrier Hapag-Lloyd aims to launch preparations for an initial public offering (IPO) in September, which is sooner than it originally planned, as a result of strong financial results, says Reuters.   Hapag-Lloyd’s solid second quarter financial performance


Researchers Prepare Oceanic Trash Clean-Up Plan

Researchers returned on Sunday from mapping and sampling a massive swirling cluster of trash floating in the middle of the Pacific Ocean, as the Dutch-borne crew works to refine a clean-up strategy it will roll out globally. The crew of the Ocean Cleanup, backed by volunteers in sailboats


The Lowdown on Ocean Acidification

The two globes illustrate the changes in ocean acidification that are expected as the ocean continually absorbs carbon dioxide from the atmosphere. Green areas are sufficiently saturated with aragonite to support shell formation; areas colored yellowish-brown are under-saturated, and shell dissolution occurs. The climate model shows the change in ocean aragonite saturation from 1885 to what is expected in 2094. (Image: NOAA)

Scientists say that the world’s oceans are acidifying.  This term is correct, but somewhat misleading.  Until recently, the oceans have had (so far as can be determined) a pH level of about 8.4 for millennia.  A pH of 7.0 is neutral


US Ocean Economy Sees Large Growth -NOAA

File photo: Tauri Minogue

In 2012, U.S. ocean and Great Lakes economy grew much faster than overall GDP   The U.S. ocean economy outpaced the domestic economy between 2011 and 2012, with an increase of $22 billion in gross domestic product, from $321 billion to $343 billion


Inmarsat Fleet One - Satcom Global

Fleet one

  Satcom Global has announced the launch of three new exclusive postpay voice and data bundles for the Inmarsat Fleet One service. Fleet One brings cost effective satellite communications to small vessels including yachts and fishing vessels, through a compact


Is Taiwan in Market for Submarines?

Ma Ying-jeou. Photo by Office of the President, Republic of China (Taiwan)

 A day after the President Ma Ying-jeou said that Taiwan needs diesel-electric submarines rather than nuclear-powered ones and has decided to build the type of craft it requires, the country's Ministry of National Defense reiterated that it has still not given up on the idea of buying


Aussie-Indian Submarine Drill, China Cautious

Photo: Indian Navy

 As part of growing strategic relationship to counter China's increased activity in the Indian Ocean,  India and Australia will focus on anti-submarine warfare in their first ever joint naval exercises,  reports SMH.   The Indian Navy and Royal Australian Navy are gearing up


Clipper to Take Delivery of 2 Ultramax Newbuilds

Clipper Group announced it will take delivery of two SDARI64 newbuilding bulk carriers during the coming months from Sainty Shipbuilding in Yangzhou, China. The vessels, to be named Clipper Kalavryta and Clipper Kythira, were purchased as resales and will be technically and commercially managed by






 
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