THE BIG FOUR
Germany's largest bank, Deutsche Bank AG, has declared it will not finance a controversial coal port expansion in Australia near the Great Barrier Reef, responding to calls from environmental groups and tourism operators. HSBC, Europe's biggest bank, also signalled on Friday it would be unlikely to finance the project. Deutsche Bank's stand marks a win for those opposed to $26 billion worth of coal projects that plan to use the Abbot Point port, already facing delays due to weak coal prices. But one company involved said the bank's position made no difference. "This doesn't impact our proposed projects in any way," Indian firm GVK Hancock spokesman Josh Euler said. Green groups and marine operators fighting to protect the World Heritage-listed reef took their campaign to Europe this week, urging Deutsche Bank, Societe Generale and HSBC not to back the Queensland coal projects. They want to stop a government-approved expansion of Abbot Point that would involve dumping 3 million cubic metres of dredged soil about 25 kilometres (15 miles) from the Great Barrier Reef, an issue that is also of concern for UNESCO's World Heritage committee. Campaigners against the Abbot Point expansion failed to win support from Societe Generale on Tuesday, according to their web site, but were successful at Deutsche Bank's annual meeting on Thursday. (http://www.marketforces.org.au/europecoalfinance)
The Lloyd’s Register Foundation today launched its Foresight review of big data and announced a conditional grant offer of £10 million to support research by the Alan Turing Institute on engineering applications of big data. The Foundation’s Foresight review of big data: towards data-centric engineering, looks forward at how developments in the area of big data might impact the safety and performance of the engineering assets and infrastructure on which modern
The first phase of the Jiangnan Changxing Shipbuilding Base has been finished and is already in operation on Changxing Island, Shanghai. Built by the China State Shipbuilding Corporation (CSSC), it has three production lines and four boatyards capable of holding 300,000-ton ships. Almost unparalleled in the world, it is the biggest shipbuilding project ever to be undertaken in China. Shanghai has the potential to be the world's largest shipbuilding base.
Since 1960, J. Ray McDermott's Middle Eastern facility has fabricated and installed over 630 structures, 330,693ST of steel, and has installed over 2,610 miles of pipeline throughout the Arabian Gulf, Egypt, India, the Caspian, Africa and the North Sea. Recently they have upgraded one of the assets that make these remarkable numbers possible. The firm’s Derrick Lay Barge-27, owned by Hydro Marine Services but operated by McDermott, now has an impressive set of specifications
During November MacGREGOR won offshore equipment orders with a total value of over $73.5 million (50 million euros); the equipment will be delivered during 2009-2010 Offshore equipment orders recently signed by MacGREGOR’s Offshore division include the single biggest order in the history of the newly acquired Norwegian company Hydramarine AS. This is for two Hydramarine active heave compensated (AHC) cranes for an offshore vessel being delivered in 2010 to a Norwegian shipowner
Len Jones was born in 1911, the coronation year of King George V and the year the Titanic was launched at Harland & Woolf in Belfast. During his lifetime there have been four British monarchs, 19 Prime Ministers, two World Wars and the break up of the British Empire. Women have won the vote, man has landed on the Moon and the world has seen the invention of television, computers, the internet, mobile phones and SatNavs.
Brazil's state oil giant Petrobras said on Thursday that it had made four "important" new oil finds that should boost its oil reserves by about 1.4 percent. Petrobras said the discoveries in Brazil's northeast region would eventually increase reserves by more than 130 million barrels, or 1.4 percent. Brazil's current reserves are 9.278 billion barrels. The finds were made in four mature fields where production was thought to be declining.
Cargill has announced a change in shipping strategy, following the sale of its last four remaining Panamax bulk-carriers, and from here on will charter in ships for all its cargo requirements. "The widespread trend towards consolidation and size within the ship owning segment implies one either gets bigger or scales back," said Vice President of Cargill International Tom Intrator in a statement. "And in our case we have chosen the latter."
Larsen and Toubro Ltd (L&T) has won a contract valued at about $240m to build four specialized ships for Dutch company RollDock BV. Indian companies are currently building about 245 ships worth more than Rs20,000 crore. Of this, about 70% are for overseas clients, who are placing orders at Indian yards as shipbuilding facilities in maritime strongholds such as , and are fully booked till 2011. Each ship will cost about $60m to build
For the second time in a week, global marine terminal operator DP World welcomed and simultaneously handled two mega container vessels at its flagship Jebel Ali Port, reinforcing its relentless efforts and capability to continuously meet customers’ demands. The ships, MSC Beatrice and MSC Lauren, sailed in within 10 hours of each other, barely a week after the MSC Daniella and the MSC Bettina. All the four vessels are owned by Geneva-based Mediterranean Shipping Company (MSC) and
Japan's third-biggest shipping company Kawasaki Kisen Kaisha ('K' Line) plans to beef up its LNG and bulker vessels over the next four years, while downsizing its container shipping fleet. The group plans to reduce its fleet of container ships from 70 to 61; however
Star Bulk Carriers Corp. took delivery on February 27 of M/V Honey Badger (ex HN NE 164) and M/V Wolverine (ex HN NE 165), two 61,000 dwt Ultramax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. (NACKS). The new vessels are the first two of four similar vessels ordered at NACKS
A smooth start to operations at BG Group's Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16, it said on Wednesday. Seven cargoes have been shipped since December from the Queensland Curtis LNG facility
A large portion of Canada's biggest port was shut down on Wednesday after a chemical fire broke out amid numerous shipping containers piled up in a yard east of Vancouver's downtown core. The toxic smoke forced local residents to take shelter inside
Hyster Company has delivered its first container handlers with Tier 4 Final engines to a terminal at the port of Los Angeles. The three Hyster H1050HD-CH trucks are ideally suited for ports and terminals, providing outstanding lifting capacity and superior performance.
Transocean Ltd shares are expected to move about 8 percent in either direction following its earnings results on Wednesday, options data showed, but positioning among traders suggests some worry. This would be the biggest post-earnings move for the shares in at least eight quarters.
On her maiden voyage in the AEX1 service, China Shipping Container Lines’ containership CSCL Globe, currently the world’s largest container vessel, moored at Belgium's Port of Zeebrugge after embarking on its first voyage in China last December.
Late last November, the tanker Olympic Flag carrying 650,000 barrels of Angolan crude dropped anchor about 7 miles off the coast in Delaware Bay, a seemingly routine shipment destined for a nearby Philadelphia refinery. What happened next was anything but routine
State-run Jawaharlal Nehru Port Trust (JNPT), India’s busiest container gateway near Mumbai, is planning to build a satellite port in one of the three locations that had already been identified--Vijaydurg, Revas-Karanja and Dahanu.
The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long, 60-meter-wide, 195,000-ton Triple-E class vessel – equivalent in length to almost four football pitches and
Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act. In an attempt to professionalize Indian ports
Long Beach Port is once again giving tourists opportunity to enjoy a rare view of port operations on a free Port of Long Beach harbor tour. The organizers are being welcomed to experience an up-close view of the biggest ships to call in North America and learn about cargo operations
The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany. First held in the year 2000, COMPIT has established itself as a key conference in information technology (IT) for the
Carnival Cruise Line will expand capacity on its four- and five-day short cruise program from New Orleans by 34 percent when Carnival Triumph replaces Carnival Elation on this schedule next spring, providing an exciting Fun Ship 2.0-equipped ship on this highly popular itinerary.
Her Majesty The Queen, accompanied by His Royal Highness The Duke of Edinburgh, will name the new P&O Cruises vessel Britannia in Southampton on March 10, 2015, P&O Cruises announced. The naming will be a milestone in British maritime history and will be an event of great national