Marine link
 

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.


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


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)


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


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.


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


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


Bureau Veritas Launches Wind Farm Service Ships Guidance

logo.jpg

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


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


Lerwick Port Spells out Strategy for Expansion

Construction to extend the existing quay is now under way. Excavation of adjacent areas will provide significant laydown and open storage opportunities. Photo Lerwick Port

Lerwick Port Authority has detailed a series of objectives to meet its aim of running an efficient, cost-effective harbour, including continuing expansion of the infrastructure. The goals are featured in an interim Update produced ahead of publication of a new style annual report in Spring.


Andrew Garrad Awarded CBE in New Year’s Honours List

Photo: DNV GL

 Dr Andrew Garrad, who retired from DNV GL on 23 December 2016, has been awarded a CBE – Commander of the Most Excellent Order of the British Empire – in the 2017 New Year’s Honours List. The CBE rewards contributions to the arts and sciences as well as work with charitable


DHT Fixes VLCC Issue, Defers Newbuilding

Photo: DHT Holdings, Inc

 DHT Holdings, Inc. said that during a routine inspection of the DHT Jaguar, a fracture surrounding the inspection window of the rudder was identified.  It is DHT's policy to inspect all newbuildings, including underwater areas, during their respective warranty periods.    


Sulu Sea Kidnappings a Threat to Shipping - IMB

File Image: Suspected pirates off Somalia are intercepted by authorities (CREDIT: IMB)

The Sulu Sea between eastern Malaysia and the Philippines has become dangerous for merchant shipping due to rising threat of kidnappings, the International Maritime Bureau (IMB) said on Tuesday.   The Sulu archipelago is a stronghold of the Abu Sayyaf


Arctic Drilling Ban Gives Canada Leg Up -US Lawmakers

© ggw / Adobe Stock

U.S. lawmakers on Wednesday slammed an agreement made with Canada to ban offshore Arctic drilling, saying Ottawa's plan to review its ban every five years gives Canada a leg up on energy exploration.   U.S. President Barack Obama on Tuesday announced a ban on new oil and gas drilling


DNV GL Launches North American OEM Committee

DNV GL inaugural meeting of the NAOEMC. Photo by DNV GL

 DNV GL's Center of Excellence for Drilling & Well Control Equipment recently hosted the inaugural gathering of the North American Offshore Equipment Manufacturers' Committee (NAOEMC).    The NAOEMC is comprised of a group of industry experts and leaders that establish


FORAN Signs Contract with NODOSA Shipyard

Photo: FORAN

The SENER engineering and technology group has signed a new contract with NODOSA SHIPYARD to install its FORAN CAD/CAM/CAE system to design and produce the shipyard's new projects.  This contract covers installing permanent FORAN system licenses in all design disciplines (Hull


China: Civil Charter Flights to South China Sea Outpost

China has begun daily civilian charter flights to Woody Island in the disputed South China Sea after approved the airport there for civil operations, state news agency Xinhua said on Thursday.   China claims almost all of the South China Sea


Asia Tankers-VLCC Rates to Slide on Lower Cargo Volumes

File Image: A so-called SuezMax tanker transits the Suez Canal (CREDIT: Suez Canal Authority)

34 VLCC MidEast cargoes fixed for early Jan -Reuters terminal; only nine fixed so far for mid-Jan.   Freight rates for very large crude carriers (VLCCs), which hit a new nine-month high this week, are on course to soften amid a weaker cargo market as owners wait for more charters to be


Future Care Launches New Website

 Future Care, Inc., a provider of global maritime medical management and cost containment services to the maritime community, has launched its new website www.futurecareinc.com.   The revised website showcases Future Care’s Caring for the Crew program


Debt Looms for South Korean Shipyards

 The top four Korean shipbuilders have 2.3 trillion won ($1.9 billion) in notes maturing next year, the most in Bloomberg-compiled data going back to 1997.    Bloomberg reports that some of them may have trouble paying debts without help from the government or group firms


RS issues First Polar Ship Certificate

The first Polar Ship Certificate was issued by the Russian Maritime Register of Shipping Photo RS

The first Polar Ship Certificate was issued by the Russian Maritime Register of Shipping (RS). The document was released by Murmansk Branch on 22 December, 2016 in the port of Murmansk to the tanker Shturman Albanov, owned by SCF Group. In connection with the Polar Code entering into force


DNV GL forms Committee for Offshore Equipment Manufacturers

Nick Prokopuk, Antony DSouza, Herman DeJong, Nick Roper (DNV GL) presented a certificate of appointment as Chairman to Ian Friesen (NOV) Photo DNV GL

The NAOEMC is comprised of a group of industry experts and leaders that establish expectations and align the industry for future growth and development in offshore equipment manufacturing. The formation and sponsorship of industry committees is a longstanding tradition within DNV GL


Fincantieri's STX Bid Approved by S.Korean Court

French state holds 33 pct of STX France; acquisition could boost Fincantieri's position in cruise shipbuilding. A South Korean court approved on Tuesday Italy's Fincantieri as the preferred bidder to buy shipbuilder STX France, helping Fincantieri move closer to a deal that could boost its


China Confirms Carrier Conducted South China Sea Drills

China's sole aircraft carrier conducted drills in the South China Sea, the navy said, days after neighbouring Taiwan said the carrier and accompanying ships had passed 90 nautical miles south of the island amid renewed tension between the two sides.






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