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OUTCOMES

HiLoad LNG Offloading Solution Presented at OTC

HiLoad LNG AS, a subsidiary of Sevan Marine ASA, and Technip presented together this year the HiLoad LNG Parallel Loading System (PLS) at OTC. This system utilizes the HiLoad LNG unit for station keeping and Technip’s cryogenic flexible aerial pipes to transfer LNG from a FLNG unit (either a Sevan Marine Cylindrical unit or ship shaped FLNG) to a fully conventional LNGC with no modifications necessary.   The combination of the HiLoad LNG unit and Technip’s cryogenic pipes was simulated last year at MARIN’s facilities in Holland. The successful outcome of this simulation demonstrated the ability of the system to maintain vessel separation of 100m or more in rough environmental conditions and with a minimum length of the LNG transfer lines. This has been the successful outcome of over 2 years of nonexclusive development cooperation between Technip and HiLoad LNG including studies paid for by Technip in 2014 and 2015.   The HiLoad LNG Parallel Loading System can also be used with other transfer solutions such as a floating cryogenic hose.  


Report on MOL Comfort Incident is out

MOL Comfort

  In response to the casualty of “MOL COMFORT” which occurred on 17 June 2013, ClassNK established the Investigative Panel on Large Container Ship Safety, comprised of leading experts from shipbuilders, shipowners and academic institutions, to carry out the following course of action: (1) Investigate the possibility of casualty occurrence (2) Consider and examine safety of large container ship structure


Osprey Maritime Gets Extension

Oil and gas shipping firm Osprey Maritime's bankers have agreed to an extension through the third quarter of 2002 of $362 million in short term loans. The facilities were originally repayable on July 20, 1999. The outlook for Osprey, which has a total debt of $813.7 million as of June 30, 1999, hinged on the outcome of its talks with bankers to extend its short term loans. The debt was incurred following its multi-million acquisition of Gotass Larsen Shipping Corp in 1997.


Kidnapped Bourbon Crew Released

Bourbon announces that its 10 crew members kidnapped in Cameroon on 31st October on board the Bourbon Sagitta were released on Nov. 11. They are now safe in Yaoundé. After medical check-ups, all of them appear to be in good health. Bourbon wishes to thank everyone who has contributed to the successful outcome of this affair for their support and efforts, and in particular the local Cameroonian authorities, as well as the French Ministry for Foreign and European Affairs.


Safe Bulkers Time Charter for Panamax Vessel

Safe Bulkers, Inc. (NYSE: SB) announced that it has entered into a new period time charter for the Maria, a 76,000 dwt Panamax class vessel, for a duration of 34 months to 36 months, with a forward delivery date in second quarter of 2011, at a gross daily charter rate of $20,250, less 3.5% total commissions. Dr. Loukas Barmparis, President of the company, said: “The new three-year time charter, which has a higher rate compared to the vessel’s current rate


WCI Names Zea as Director

Tracy Zea (Photo: WCI)

Waterways Council, Inc. (WCI) has named Tracy R. Zea as its Director-Government Relations, effective August 4.  He will be based in the Washington, D.C. office and will primarily advocate for WCI’s goals for authorizations and appropriations which support a modern, efficient, and reliable inland waterways transportation system.  Zea will also work to enhance WCI’s stakeholder relationship with the U.S. Army Corps of Engineers


BP-Amoco and ARCO in $26.8 Billion Deal

BP Amoco confirmed, following a successful outcome to talks between the two companies, it has reached agreement to combine with the Atlantic Richfield Company (ARCO) of Los Angeles. The all-share transaction, approved by the boards of both companies, will involve the exchange of 0.82 BP Amoco American Depositary Shares (ADS) for each ARCO share. The deal will substantially boost BP Amoco's reserves and production, giving it the largest oil output of any non-state company


Navios Apollon Released from Captivity

Navios Maritime Partners L.P. announced that the Navios Apollon and her crew were released on Feb. 27 2010. Navios Partners reported that the Captain and crew are healthy and will be reunited with their families shortly. Navios Partners thanks the Captain, the crew and their families for their fortitude through this trying ordeal. Many assisted the company in achieving this outcome. Navios wanted to recognize the special efforts of the Chinese Embassy in Greece, and the Ambassador personally


EDHEC-Risk Institute Welcomes Eight New Members

EDHEC-Risk Institute announced that eight new members have joined its international advisory board, which brings together scholars, representatives of regulatory bodies as well as senior executives from business partners and other institutions. The role of the international advisory board is to validate the relevance and goals of the research program proposals presented by the institute’s management and to evaluate research outcomes with respect to their potential impact on industry


Fergusons Shipbuilders Takeover: Preferred Bidder

Scots flag: File image

The Scottish Government informs that KPMG has announced that Clyde Blowers Capital is to be the preferred bidder for the group’s business and its assets. First Minister Alex Salmond said:
 “I am delighted that Clyde Blowers Capital has been named the preferred bidder for the Fergusons yard. Jim McColl’s company is one of Scotland’s greatest job creators, and I will be meeting with the company


South Korea: 'Tough Luck' to Hanjin

The South Korean government, long a bastion of support for the country's big conglomerates, is sticking to its hard-line stance on Hanjin Shipping Co Ltd , whose collapse is roiling global supply chains. Since the world's seventh-largest container carrier filed for court receivership in late


Evolution BWT System Begins USCG Shipboard Tests

Photo: Cathelco

Cathelco announced that its Evolution ballast water treatment (BWT) system has begun shipboard testing for U.S. Coast Guard Type Approval.   The system has been installed on the Svendborg Strait a 1,085 TEU containership owned by Carsten Rehder of Hamburg.  


Hanjin Shipping plan would see sale of most of its ships

Hanjin File Photo

South Korea's Hanjin Shipping Co Ltd, whose collapse has disrupted global trade, is considering a restructuring plan to sell more than half its ships, the Wall Street Journal reported on Friday, citing people familiar with the matter. However


Lifeboat Crew Exchange Hits Fifth Year

Photo: IMRF

For the fifth consecutive year, rescue volunteers from European nations are to participate next week in a seven day Lifeboat Crew Exchange Program organized by the International Maritime Rescue Federation (IMRF).   The well-established program will include representatives from 13 countries


Newest Merchant Ship to Fly SA Flag at Port of Port Elizabeth

Hoisting of the South African flag. (Photo: Port of Port Elizabeth)

The Port of Port Elizabeth is home port of a third ship to be registered on the South African Ships Register. This marks another step in South Africa’s drive to become a recognized Maritime Nation in line with the government’s Operation Phakisa initiative which aims to unlock the


Alfa Laval to Help Meet 0.5% Sulphur Fuel Cap

The new Alfa Laval PureSOx Global is part of a major expansion of the PureSOx platform that will be released at SMM Hamburg. Photo Alfa Laval

Alfa Laval is ready to help customers meet a global 0.5% sulphur fuel limit, no matter what the outcome of the MEPC70 meeting. The new Alfa Laval PureSOx Global is part of a major expansion of the PureSOx platform that will be released at SMM in Hamburg.  


AFMA Moves to Strengthen Seabird Safety

A BIRD BAFFLER HAS BEEN DESIGNED TO DETER SEABIRDS FROM FORAGING IN BETWEEN THE STERN OF THE VESSEL AND WHERE THE WARPS ENTER THE WATER Photo AFMA

Being followed by an albatross is considered to bring good luck to mariners but the birds themselves aren’t always so lucky when trying to pick up a free feed from fishing boats. To better protect seabirds from fishing gear, AFMA has been working with the fishing industry to develop new


Will Container Lines Skip UK Ports on Brexit?

Photo: Maersk Line

 British importers and exporters prefer direct mainline container services calling at their national ports and tend to dislike feeder services, says a Drewry report.   Is there a risk that a politically isolated UK will no longer benefit from direct vessel calls


Safety and Preparation on the Brownwater Radar

File photo: Thomas Rollins

Weather Channel Forecasters are predicting a “near-average” hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldn’t prepare for the worst. While it is unclear whether the season, which began June 1


Singapore, Malaysia Conduct Joint Chemical Spill Drill

Photo: Maritime and Port Authority of Singapore

 The Maritime and Port Authority of Singapore (MPA) and the Marine Department of Malaysia (MDM) conducted a joint chemical spill exercise at sea along the East Johor Straits to test the Joint Emergency Response Plan (ERP) for chemical spill incidents and the communication linkages between the


Brexit Impact on Shipping and Sea Trade in UK

Image: Worldshipping.org

 Eversheds International says that UK trade would clearly be impacted by the Brexit vote.    "We saw an immediate effect on currency and share prices, although there are signs that the market is settling down after the initial post-vote furore," says a report by Eversheds


Maersk Break-Up Soon ?

Photo: Maersk Line

 A.P. Moeller-Maersk A/S, in its strategic review, is considering several options including a two-way split into an energy and a transport company, says a Bloomberg report.   According to Danish daily Berlingske, the shipping group is likely to break up into transportation and energy


Essar’s Vizag Port Terminal Boost Third Party Business

Essar Vizag Terminal

Post the taking over of Vishakhapatnam Port Trust’s (VPT's) Iron Ore Handling Complex (OHC) on a Build-Operate-Transfer (BOT) basis for a period of 30 years in May’ 15, Essar Vizag Terminals Limited (EVTL), a wholly owned subsidiary of Essar Ports Limited (EPL) has boosted the


Extreme Boat Lifts Installed in the Panama Canal

Photo: Golden Boat Lifts

When the Republic of Panama needed lifts for a pair of its service boats, it turned to Golden Boat Lifts for the supply of two custom-designed 7,000 lb. capacity Golden Elevator Lifts for use in the Panama Canal.   According to Golden Boat Lifts


Royal Vopak to Acquire EXMAR's FRSU Share

EXMAR to sell its share in FRSU

EXMAR and Vopak announce that discussions are currently taking place to explore the possibility of an acquisition of EXMAR’s share in its floating LNG storage and regasification business (FRSU’s) by Vopak. As the outcome of these discussions between EXMAR and Vopak is currently






 
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