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 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
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
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.
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.
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.
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
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."
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.
APL, part of the CMA CGM Group, has announced the launch of the Felixstowe Express Service (FEX), a new weekly service that connects the key ports of China, Europe and Felixstowe – United Kingdom’s (UK) biggest and busiest container port.
Global marine container terminal operator DP World will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC), in an effort to increase its Asian portfolio.
India has inked a deal with the US defence and aerospace giant Boeing to procure four more Poseidon-8I (P-8I) long-range surveillance and anti-submarine warfare aircraft ( submarine hunter planes) worth $1 billion. According to industry sources
Bored with palm-fringed beaches and turquoise seas? Then the gigantic oil platforms of the North Sea beckon. The first ever "rig-spotting" cruise just ended off the coast of Norway, and those onboard the four-day trip said it was jawdropping.
With seaborne transportation accounting for the vast majority of the world’s international trade, the importance of the shipping industry to the mechanics of the world economy is generally fairly evident, says Clarksons Research.
British ports could gain a competitive edge in tough shipping markets through post-Brexit exclusion from planned European Union regulation of the sector, leading British port officials told Reuters. Last month's vote to leave the EU means that British terminals are set to escape the
A boom in shipping is aggravating air pollution in China and other nations in East Asia, causing thousands of deaths a year in a region with eight of the world's 10 biggest container ports, scientists said on Monday. Often overlooked compared to cars and factories that are far bigger
A group of South Korean companies including shipbuilders have come together to establish an association dedicated to developing liquefied natural gas (LNG) bunkering facilities and infrastructures including LNG-fueled vessels, says a report in the Pulse.
The captain and first officer of an ocean going tug boat have been found guilty of drug trafficking following the biggest ever U.K. seizure of class A drugs, the country’s National Crime Agency (NCA) announced. The cocaine, worth an estimated potential street value of £512
Nordic American Tankers Limited (NAT) has taken delivery of a Suezmax vessel, the Nordic Pollux, built at a Japanese shipyard. Nordic Pollux is the final of four sister vessels purchased at the aggregate price of $106 million, and delivered to NAT over the course of 41 days.
The world’s biggest Atlantic salmon producer wants to start farming fish inside a ship – and the idea has merit, says a report in IOL. Building traditional fish farms on the open water in Norway has become almost impossible because of state rules intended to curb
U.S. drillers this week added oil rigs for a fifth week in six, according to a closely followed report Friday, prompting analysts to predict the rig count has bottomed and production will start to edge up early next year. Drillers added 10 oil rigs in the week to July 8
Conrad Shipyard of Morgan City, La. has signed a contract to build four Damen Stan 3711 tugs for Young Brothers, Limited of Hawaii, announced Conrad President and CEO, Johnny Conrad. The four new twin-screw tugs are 123-feet in length with a 36.5-feet beam and powered by G.E
Since June 2016, the Singaporean shipping line Pacific International Lines (PIL) has marketed a weekly containerised service (20’/40’/40’HC and reefer) from HAROPA - Port of Le Havre and bound for the South Pacific area. The service notably makes stops in Australia, New Zealand
India's biggest shipping company Shipping Corporation of India (SCI) will resume sailing to Iran this month after a hiatus of about four years, reports Reuters. The company says it will accordingly use one of its Suezmax-sized tankers to ship an oil cargo for state-refiner Hindustan