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THE BIG FOUR

Banks Won't Fund Coal Port Expansion near Reef

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)


ABP Port of Southampton Welcomes its Latest Record-Breaker

Photo: ABP Port of Southampton

 The biggest container ship in the world, the MSC Maya, made its maiden call at Southampton on Tuesday 15 December.    The 395.4m vessel, which can carry a world-leading 19,224 containers, is just the latest giant container vessel to call at the port in recent weeks.   As well as being the biggest, the vessel, which is named after Maya Aponte the four-year-old daughter of MSC President and CEO Diego Aponte


First Phase Completed at Changxing Shipbuilding Base

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.


J. Ray McDermott’s Mid-East Lay Barge

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


MacGREGOR Signs Offshore Orders

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


Lloyd's Register Foundation Funds Big Data Study

Towards data-centric engineering

  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


Petrobras Announces Four Oil Field Finds

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 Dumps Shipping Arm

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."


Len celebrates 100th on the Ship Canal

Len Jones (2nd left) at QEII Dock with (l-r) former colleagues Jim Cordiner, David Ogilvie, Ray Howells and current Ship Canal general manager Dean Hammond.

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.


MSC Ships Get Bigger

MSC Divina. Photo courtesy of MSC Cruises

MSC Cruises, the 4th largest cruise line, confirmed the existing STX France options to build an additional two ships in the Meraviglia class.    The ships, valued by MSC at $1.7 billion, will be longer and bigger versions of the Meraviglia-class ship, which is scheduled to begin with the 167,600-gross-ton MSC Meraviglia in 2017.   MSC now has four firm orders on the books from STX France, plus another three ships at Fincantieri.    


Top 10 Shipowning Nations by Value

The data in this infographic contains all live and on order vessels. (Source: VesselsValue)

 VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the order may not have changed much from last year, the standout winner appears to be Denmark as the only country on the list to increase


Six New VLCCs Marks the Start of a Busy Delivery Year

Image: ConocoPhillips

 2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO.    The six new VLCCs were delivered in a strong winter market


Shipping Firms Poised to Settle EU Probe

Photo: Mediterranean Shipping Company

 Fifteen container liner shipping companies "have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines," according to a report from Reuters Wednesday that cites two unnamed sources.  


Greeks at Frontline of Migrant Crisis Angry at EU Critics

ABOARD THE AGIOS EFSTRATIOS, Aegean Sea, Feb 11: Greek Captain Argyris Frangoulis lifts his binoculars and with eyes fixed on the Aegean Sea horizon, steers his patrol boat out near the Turkish border to a dinghy full of stranded refugees.


Microsoft Sinking Data Center in the Pacific

Photo:  Microsoft

 Microsoft swims to ocean’s depth to test underwater data center as environmentally friendly cloud computing alternative. The software giant has dropped a data center into the Pacific Ocean off California.    Microsoft  gave details of its rationale for going underwater


BP Reports Biggest Ever Annual Loss

BPs Thunder Horse platform in the Gulf of Mexico. (Photo: BP)

BP shares slide 8 pct after results miss forecasts. BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.


June Deadline for Panama Canal Expansion

Photo: Panama Canal Authority

 The Panama Canal expansion project is now expected to be finished “mid of 2016” says a report in Reuters quoting the waterway's administrator.    "The new set of larger locks for the Panama Canal will be complete by the end of June


SS United States to Sail Again

Rendering of the restored SS United States by Crystal Cruises (Image: Crystal Cruises)

Crystal Cruises reaches deal to restore the record-breaking and storied SS United States to a fully operational modern luxury cruise ship   Crystal Cruises has come to the rescue of historic luxury liner SS United States, today announcing an exclusive purchase option agreement to begin work


Asia-Europe Box Rates Down 8 pct

The containership Maersk Kalmar. Maersk controls around a fifth of containers transported from Asia to Europe. (file image)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.


Demolition Age Drops as the Dry Bulk Market Enters Another Challenging Year

Graph: BIMCO

 The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO.   2016 has shown no improvements so far and prospects for the rest of the year are not looking promising


DP World 2015 Box Volumes Rise 2.4 pct

file image: a large containership underway (credit: USAC)

Dubai's DP World, one of the world's biggest port operators, on Monday said its 2015 annual gross container volumes rose 2.4 percent on a like-for-like basis and increased 3 percent on a reported basis. Gross volumes totalled 61.7 million twenty-foot equivalent units (TEU) in 2015, up from 59


Hess sells Shannon LNG Terminal

Ireland is the only country in NW Europe without an LNG terminal. Map:  ShannonLNG

 New York-based energy company Hess has sold Shannon LNG, a proposed gas-import terminal in County Kerry, Ireland’s Sunday Independent has reported.   The newspaper did not name the buyer for the site. The identity of the new owner of the proposed liquefied natural gas terminal


Hempel Coatings for Lemissoler Newbuilds

Global shipmanagement company, Lemissoler Navigation, via its affiliated and managed company Frontmarine Co. Ltd, has coated four of its eight newbuild 58,500 dwt supramax bulk carriers with Hempel’s Dynamic antifouling product, and based on its performance


Maersk CEO Looks to Increase Market Share

file image: The Maersk Kalmar underway (Maersk)

A.P. Moller-Maersk's chief executive said its container shipping arm Maersk Line probably gained market share in the second half of 2015 after losing some in the first half of the year. "We want to increase Maersk Line's market share


2016 a Busy Year for VLCC Deliveries - BIMCO

File photo: DHT

When it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, 2016 is off to a flying start. Six new VLCCs were delivered in a strong winter market. Having reduced slightly, since the turn of the year






 
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