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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 


Northern Fleet Adds Research Vessel

The newest research ship Amber was a part of the Northern Fleet

  The latest oceanographic research vessel "Yantar" has arrived at the base of the Northern Fleet in Murmansk region. This was announced by Head of Press Service of the Federation Council Vadim Serga. "The crew has completed the transition from the Atlantic Ocean to the Kola Bay" - quoted by TASS Sergey. In May of this year, "Amber" was raised by St. Andrew's flag. This was followed by testing of the equipment and facilities the ship in the deep


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.


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


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


Fleet Growth: Private Trends And Public Developments

Graph: Clarksons Research

 According to Clarksons Research, the world fleet has experienced a sustained period of growth during the last decade, with owners based in the Asia/Pacific region responsible for the largest share of this expansion.    However, since the start of 2014


New Vessel Registration System for the UK

Oceans HQ Director André Tanguy

Oceans HQ, a  provider of specialized software to the world’s Maritime Administrations, has signed an agreement to deliver a new digital Vessel Registration system to the U.K. Maritime and Coastguard Agency.   The new digital platform forms a key component of the MCA’s


Dubai Partners with WOC on Ocean Sustainable Dwevelopment

Photo: Dubai Council for Marine & Maritime Industries

 The Dubai Council on Marine and Maritime Industries (DCMMI) and the World Ocean Council (WOC) have agreed to collaborate on ocean sustainable development and corporate ocean responsibility.    The WOC is increasingly working with and through “maritime clusters” to


Zim Sinks to Red

Photo: ZIM Integrated Shipping Services Ltd

 Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year.   ZIM swung to a $56 million net loss in the first quarter from a $12 million profit in the previous year and revenue was


SHIPPINGInsight Agenda, Keynote Speakers Announced

Photos: SHIPPINGInsight

SHIPPINGInsight announced the agenda and identified keynote speakers for the fifth Fleet Optimization Conference & Exhibition. The annual event will take place October 18-19, 2016, at the Stamford Marriott Hotel and Spa in Stamford, Conn.  


FMC’s Doyle Addresses Intermodal Hot Topics

William P. Doyle (Photo: FMC)

Speaking at the Intermodal Association of North America on May 5 in Chicago, U.S. Federal Maritime Commissioner William P. Doyle discussed several of the shipping industry’s hottest topics, including ocean carrier consolidations and alliances, container weight VGM under SOLAS, and chassis.


Hapag-Lloyd, Competitors Form New Pact

File Image: a Hapag Lloyd boxship alongside during cargo operations (Hapag-Lloyd)

To fend against M2, newly forming Ocean Alliance is latest push for economies of scale groups. German container shipping firm Hapag-Lloyd has formed a new alliance with five Asian competitors, it said on Friday, the latest step in an industry reorganisation that is divvying up the global


Shipping Alliances Demand Aggressive Oversight -FMC Chairman

Photo: China COSCO Shipping

The restructuring of the ocean carrier alliance system, triggered by merger and acquisition activities by shipping companies, is a logical business development, but if not carefully monitored and regulated, could also represent a move toward reduced services for shippers, said Mario Cordero


Search on for Cruise Ship Passenger

HC-144 Ocean Sentry aircraft from the Coast Guard’s medium range surveillance fleet Photo USCG

Coast Guard aircrews continued searching through the day and into the evening Saturday, after beginning a search Friday for a woman who fell from a cruise ship - about 200 miles southeast of Galveston-, Texas. See map at : www.google.com/maps/@27.6743155,-96.8294863,6z.


Containership Fleet On The Brink To Break Through The 20 Million Teu Barrier

Graph: BIMCO, Clarksons

 BIMCO expects the container shipping fleet to break through the 20 million TEU barrier shortly. 2016 will see the lowest fleet growth rate on record (3.4% expected), but with an estimated net addition of 0.68 million TEU of capacity for the full year, the milestone could be reached in June.


Republic of the Marshall Islands Continues Strong Growth

Image: Republic of the Marshall Islands (RMI) Maritime and Corporate Registries

 International Registries, Inc. and its affiliates (IRI) provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries.   The RMI Maritime Registry has surpassed another significant fleet milestone


Containership Fleet Nearing 20 Mln TEUs

Introduced in 2015, the 19,224 TEU MSC Maya is a member of MSCs Oscar Class supersize containerships (Photo: MSC)

The container shipping fleet is nearing the 20 million TEU mark, a barrier that BIMCO expects will be broken through shortly. It is expected that 2016 will see the lowest fleet growth rate on record (3.4 percent projected), but with an estimated net addition of 0


AAL Boosts Chinese Operations

Photo: AAL Shipping

 Leading global ocean transport operator, serving the breakbulk, heavy lift and project cargo industry AAL is set to strengthen its growing presence in the China region, with the appointment of specialist project and steel cargo freight forwarder Central Oceans


Hamburg Süd to Adopt INTTRA eVGM Service

Photo: Hamburg Süd

Hamburg Süd, one of the 10 largest shipping lines worldwide, and INTTRA, the world's ocean shipping electronic marketplace, have expanded their partnership to address the July 1 implementation of the International Maritime Organization's Safety of Life at Sea (SOLAS) Verified Gross Mass (VGM)


DryShips Posts Profit for 1Q

Photo: DryShips Inc

 Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier.    The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains, came to 78 cents per share.






 
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