Marine link
 

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


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


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.  


Container Weighing Protocol Set for Port of Charleston

The South Carolina Ports Authority (SCPA) has today filed a rule in its Marine Terminal Operating Schedule (MTOS) outlining its process for adherence to the IMO regulations regarding Safety of Life at Sea (SOLAS) Regulation VI/2, consistent with the U.S


Ocean Cleanup Prototype Set for a Test Run

Union Bear (Photo: Boskalis)

The first ocean cleanup system ever tested at sea will soon be deployed for trials 23 kilometers (12 NM) off the Dutch coast. The goal of the test is to see how the floating barrier design is able to cope in extreme weather at sea during a 12-month period.


Admiral of the Ocean Sea Award Recipients Named

Clockwise (from top left) Arthur E. Imperatore, Christopher Wiernicki, and Donald Marcus, Photo USS

The United Seamen's Service (USS) 2016 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Arthur E. Imperatore, Founder and President of New York Waterways; Donald Marcus, President of the International Organization of Masters, Mates & Pilots; and Christopher Wiernicki


World Trade Routes Won't be the Same with Expanded Panama Canal!

Graph: Clarksons Research

 On 26th June 2016, a landmark development for the shipping industry will occur with the opening of the new third set of locks at the Panama Canal. Clarksons Research takes a look.   Around ten years in the making, the expansion will enable significantly larger ships to transit the


Marlink Integrates Inmarsat’s Fleet Xpress

Maritime communication and maritime VSAT operator Marlink has signed a strategic alliance with Inmarsat, which will see Inmarsat’s new Fleet Xpress service integrated into Marlink’s existing service portfolio. Through the agreement, Marlink will bring more than 2


East-West Shippers see Acceleration in Container Contract Rate Cuts - Drewry

Photo AFP

Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates


RV Polarstern Starts Arctic Season

The German polar research vessel Polarstern off the coast of Spitsbergen. (Foto Sebastian Menze)

Scientists from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) are setting out with the research vessel Polarstern towards Spitsbergen, to use newly developed equipment in the Arctic Ocean. Autonomous instruments on the seabed


East-West Shippers See Acceleration in Container Contract Rate Cuts

Image: Drewry

 Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight


New US Warship Named after Pioneering Navy Nurse

Secretary of the Navy Ray Mabus signs a graphic representation of the future guided-missile destroyer USS Lenah H. Sutcliffe Higbee (DDG 123) at the Women in Military Service for America Memorial. (U.S. Navy photo by Armando Gonzales)

During a ceremony to honor women who served in the U.S. Navy and Marine Corps, Secretary of the Navy Ray Mabus announced an Arleigh-Burke class destroyer, DDG 123, will be named Lenah H. Sutcliffe Higbee.   Higbee, the future ship's namesake, was a pioneering United States Navy chief nurse


Major Shippers Select CargoSmart's VGM Solution

Image:  CargoSmart Limited

 CargoSmart Limited has announced that its customers are preparing to submit the verified gross mass (VGM) of their cargo through CargoSmart's platform to comply with the new Safety of Life at Sea (SOLAS) Convention requirements that go into effect on July 1, 2016.   


Unmanned Surface Vessels: From Concept to Service

BAE Systems Unmanned RHIB with ASV Technology. (Credit: BAE Systems)

Over the next decade the maritime sector is likely to see one of the largest changes since sail gave way to steam. Unmanned Surface Vehicles (USV) are now being considered for various marine roles and the drivers for rapid development are significant.  


How Do World’s Major Shipping Fleets Perform?

Graph: Clarksons Research

 Clarksons Research Analysis takes a look at the world’s major shipping fleets and  how do the largest shipowning nations perform when it comes to punching above their weight?   SIW 1223 pointed out that Greek owners as a whole command a powerful ‘sting’ when one


Hundreds of Scientists Urge Obama to Halt Arctic Oil Drilling

Photo Credit: NASA Goddard Space Flight Center

 Nearly 400 scientists from more than a dozen countries signed a letter urging U.S. President Barack Obama to take the Arctic Ocean out of the next federal offshore lease sale plan, thus ruling out the possibility of offshore drilling in the Arctic in the near future.  


Sustainable Use of the Oceans

Photo:  International Maritime Organization (IMO)

 International Maritime Organization (IMO)  will have an important contribution to make to the UN 2017 Oceans Conference, which is being co-hosted by Fiji and Sweden from 5 to 9 June 2017.   It has aims to support the implementation of Sustainable Development Goal 14 (Conserve and


Gard Alert: Prepare to Manage Ballast Water

Photo: IMO

 Preparatory work to ensure timely compliance with IMO’s Ballast Water Management Convention should not be postponed as it is thought the convention will soon be ratified by a sufficient number of states to pass the entry into force tonnage threshold.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright