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SEA NOTE

Little Change in Overall Shipping Confidence

freight.jpg

Little change occurred in the latest monthly Stifel Logistics Confidence Index. Slipping only 0.1 points from 57 in March to 56.9 this month, the overall index did however favor improvements in the present situation increasing 1.6 points to 51.8. However, expectations for the next six months dimmed falling 1.8 points to 62 for April. The monthly airfreight data is such an example. For April, the present situation increased 0.5 points to 49 whereas expectations declined 2 points to 61.3. The present situation indicates a current market in contraction due to the index figure below the 50-level. However, compared to April 2013, the present situation has improved 7 points. By lane, all lanes except U.S. to Europe, are below the 50-level but compared to the same month in 2013, much improvement has been made. Europe to Asia has improved at 8.1 points higher than 2013 followed by U.S. to Europe up 7.1 points. In fact, for the current month, the U.S. to Europe lane climbed above the 50-level for the first time since the Stifel survey begun. The airfreight expected situation declined on all trade lanes except Europe to Asia which noted a 1.2 point increase to 62. Etihad Cargo, a division of Etihad Airways, has noted increases in this trade lane in particular. “We are seeing an adjustment of flows between European exports in China, for example


Bureau Veritas Polar Rules & Ice Guidance

International classification society Bureau Veritas has published new rules for Polar Class vessels and specific guidance on ice/structure interaction. The rules are aimed at speeding Arctic and Caspian Sea oil and gas development by facilitating the building of tank, cargo and offshore service vessels which can operate unsupported by icebreakers in very heavy ice. The guidance note aims to facilitate floating LNG and oil platform construction in high Arctic conditions.


Clean Ships: Knowledge is the Key

Photo courtesy of WSS

In the wake of new regulations, Wilhelmsen Ships Services (WSS) says bulk owners and operators must pay as much attention to the products used to clean their cargo holds as the holds themselves.   WSS is urging firms to heed details included in the revised MARPOL Annex V Resolution MEPC.201(62), relating to the International Convention for the Prevention of Pollution from Ships, which came into force on January 1, 2016.


Hornbeck Offshore Exchange Offer

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced that it has successfully completed its offer to exchange $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs440543 AF 3 and U44070 AC 1), which were issued in a private placement and sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933, for an equal aggregate principal amount of its 8% Series B Senior Notes due 2017 (CUSIP 440543 AH 9)


K-Sea Barge Strikes Object, Fuel Spills

AP reported that K-Sea Transportation Partners LP on Friday said one of its tank barges struck an underwater object in the middle of the night, taking in water and leaking unspecified amounts of fuel into the Gulf of Mexico. The company, which runs a fleet of about 100 oil tank barges and tug boats, said the tug boat master reported that the barge rammed an unidentified object in gulf waters. The company noted that it carries both protection and indemnity liability insurance


Courageous Chinese Crew Wins Inmarsat-sponsored Award

A cargo vessel operated by China Navigation Company helped rescue 246 people & wins a Lloyd's List Global Award sponsored by Inmarsat. The Amver Assisted Rescue at Sea Award was presented by President of Inmarsat Maritime, Frank Coles, to Captain Vimar Vidanagamage, representing the China Navigation Company, at a ceremony in London on 26 September 2012. The Chinese ship MV Kwangtung, was diverted using the Amver system to save the lives of passengers from the ferry Rabaul Queen which


Horizon Lines Completes Comprehensive Refinancing

New Capital Structure Provides Opportunity for Significant Deleveraging.   Horizon Lines, Inc. (NYSE: HRZ) today announced that it has completed a comprehensive refinancing of the company's entire capital structure.  The new capital structure addresses the company's financial needs by providing adequate liquidity to fund continuing operations and the ability to achieve substantial additional debt reduction


Weak Capesize Rates Depress Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped 12 points, or 1.36 percent, to 869 points. The capesize index fell 41 points, or 2.16 percent, to 1,860 points. Average daily earnings for capesize vessels, which typically transport 150


Bureau Veritas Launches Wind Farm Service Ships Guidance

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International classification society Bureau Veritas has published guidance for designers and builders of Wind Farm Service Ships. Maxime Pachot, offshore service vessel manager at Bureau Veritas, says, “Although some of the existing Offshore Service Vessel fleet can perform the tasks necessary for developing and maintaining offshore wind farms, we see an increasing need for specialist craft. These will include specialised vessels for servicing offshore wind farms


Propulsion Annual: ABS: Large Ship Hull Deflections Impact the Shaft Alignment

A report issued earlier this year from ABS indicates that larger ships, driven by the latest generation of very high-powered diesel engines, are particularly susceptible to alignment problems on the bearings supporting the propulsion shafting as well as the main engine bearings. Hull girder deflection is one of the major reasons for the increased number of propulsion shafting and the main engine bearing failures and damages that are being reported


NAT Acquires Four 150,000dwt Tankers

Courtesy Nordic American Tankers Limited

Nordic American Tankers Limited ("NAT" or the "Company") announced today that it has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard. The aggregate price is $106 million


India to Take Part in Maritime Drill in South China Sea

INS Airavat. Photo: Indian Navy

 India will join US and Japan conduct joint naval exercises in the northern waters of the Philippine Sea, an area close to the East and South China Seas where Beijing is locked in an increasingly tense standoff with other countries.  


KICT Welcomes MSC MEL 1 Service First Call

KICT Welcomes First Call of the New MSC Middle East Loop 1 Service Photo KICT

 MSC Lana Voy-JA618R made its inaugural call at Karachi International Container Terminal (KICT), marking the launch of a new Middle East Loop 1 (MEL 1) Service.  To mark the event, KICT held a maiden voyage ceremony, attended by Mr Keith Lau


Gulf of Guinea Piracy a ‘Deep Concern’ -UN Security Council

Rising crime in Gulf of Guinea contrasted with declining East Coast pirates; Presidential statement condemns murders, kidnappings, hostage-taking, as UN Security Council expresses deep concern over piracy   The United Nations Security Council on Monday expressed its deep concern over piracy


37 Piracy Incidents in Q1, Says IMB

Image: International Maritime Bureau (IMB)

Worldwide, International Maritime Bureau (IMB) recorded 37 piracy and armed robbery incidents in the first quarter of 2016, down from 54 in the same period last year. Three vessels were hijacked and 29 boarded, with 26 crew kidnapped for ransom and a further 28 held hostage.  


Violent Attacks Worsen in Seas Off West Africa - IMB

Piracy on the world’s seas Courtesy ICC & IMB

 As piracy on the world’s seas continues to fall, new figures from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) highlight growing violence off the coast of West Africa, where 44 seafarers have been captured so far this year.


Iranian Ships to Make Trips to Europe, Americas

Pic: Islamic Republic of Iran Shipping Lines

 Iran all set launch a shipping line to Europe, North and South American countries, as sanctions against Iran’s shipping industry has been recently lifted.   The Islamic Republic of Iran Shipping Lines (IRISL) has resumed its routes to various destinations across Europe


MSF Restarts Mediterranean Migrant Rescues

MSF Search and Rescue boat Dignity I (Photo: MSF)

The medical relief charity Medecins sans Frontieres has relaunched rescue operations in the Mediterranean Sea, accusing European governments of failing to act to save migrants in peril at sea, it said on Monday.   MSF halted its maritime rescue programme in January


New Condition Monitoring Guidance from ABS

ABS has published two documents to help industry with condition monitoring. The new ABS Guidance Notes on Condition Monitoring Techniques helps owners choose appropriate monitoring techniques, and the ABS Guide for Surveys Based on Machinery Reliability and Maintenance Techniques provides updated


ABS' New Condition Monitoring Guidance

Monitoring Courtesy ABS

Guidance Notes and Guide provide information for choosing monitoring techniques and insights for achieving classification. ABS has published two documents to help industry with condition monitoring. The new ABS Guidance Notes on Condition Monitoring Techniques helps owners choose appropriate


Hurtigruten, Kleven Ink Explorer Ships Construction Deal

Hurtigruten Rolls Royce Illustration of vessels Photo Hurtigruten

Norwegian exploration travel company Hurtigruten, has signed a letter of intent for the construction of up to four new explorer ships with Norwegian shipyard Kleven. The order for delivery in 2018 and 2019 is a move to meet growing demand for adventure travel from travellers in the U.S


ECSA Calls for Short Sea Shipping Friendly Framework

Photo: European Community Shipowners’ Associations (ECSA)

 European shipowners hope that the momentum created by the Dutch Presidency’s High Level Event on Short Sea Shipping held in Amsterdam last February will result in maritime directors putting Short Sea Shipping on the top priority list when they meet today in Brussels.  


Asia Tankers-VLCC Rates Face Pressure

Number of MidEast charter fixtures less than usual; Basra crude exports set to fall in May. Freight rates for very large crude carriers (VLCCs) will come under further pressure next week if the current sluggish chartering activity continues, ship brokers said on Friday.


Asia Dry Bulk-Capesize Market Direction Uncertain

A so-called ValeMax bulk carrier. These vessels were built primarily to carry iron ore from Brazil to the far east. (image: Vale)

Owners resisting charterers' attempts to push market lower; rates slip from 5-1/2-month highs. Freight rates for large capesize dry cargo ships on key Asian routes face an uncertain outlook next week with some owners resisting charterers' attempts to push hire rates down even as freight rates


China Eyes Faster Arctic Routes Opened by Global Warming

China will encourage ships flying its flag to take the Northwest Passage via the Arctic Ocean, a route opened up by global warming, to cut travel times between the Atlantic and Pacific oceans, a state-run newspaper said on Wednesday.  






 
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