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THE BIG ONE

Japan, Philippines Negotiate Coast Guard Ships Delivery

Japan and the Philippines have begun talks for the transfer of two large coast guard ships to Manila, to help patrol the disputed South China Sea, a Japanese foreign ministry official said on Friday, as part of a deal on defence equipment. The two brand-new 90-metre (295-ft) multi-role response vessels will be in addition to ten 44-metre (144-ft) mid-sized coast guard ships, worth 8.8 billion pesos ($188.52 million), that Japan is set to start delivering next week. "Both governments are looking into the possibility of getting two more vessels, this time the bigger ones," Masato Ohtaka, deputy spokesman of Japan's foreign ministry, told journalists in Manila. "We're in the middle of dialogue between the two sides, they are still discussing details and we need a little more time." The ship delivery figured in an 80-minute meeting between Philippine President Rodrigo Duterte and Japanese Foreign Minister Fumio Kishida on Thursday in southern Davao City. "We talked about how Japan can help the Philippines in capacity building, particularly with regards to maritime security," Ohtaka added. China claims almost the entire South China Sea where about $5 trillion worth of trade passes every year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims on the sea believed to have rich deposits of oil and gas.


Baltic Index Snaps 9-day Winning Streak on Weaker Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, tumbled on Tuesday, snapping a nine-session winning streak, as capesize vessel rates dropped. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended down 19 points, or 2.16 percent – it's biggest one-day percentage fall in three weeks – at 859 points. The capesize index closed down 130 points, or 11.29 percent, at 1,021 points


Oil Steadies as Equities Rally

Recovering stock markets boost oil prices; U.S. crude on track for first weekly gain in nine weeks. Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria. Oil saw its biggest one-day bounce since 2009 on Thursday, with North Sea Brent and U.S. light crude rising more than 10 percent. U.S


Meyer Turku Builds Big

Mein Schiff 5 float out. The cruise ship was delivered in June 2016. (Photo: Meyer Turku)

Maritime Reporter & Engineering News recently visited Finnish shipbuilding giant Meyer Turku, whose sights are set on building bigger.   It is safe to say that when shipbuilding commenced in the town of Turku, Finland in 1737, the company building wooden boats at the time could not have envisioned the enormous vessels that would eventually be built by the site’s current occupant, Meyer Turku.  


Deep-Sea Tremors May Provide Early Warning

Predicting when large earthquakes might occur may be a step closer to reality, thanks to a new study of undersea earthquakes in the eastern Pacific Ocean. The study, reported in today’s Nature, is the first to suggest that small seismic shocks or foreshocks preceding a major earthquake can be used in some cases to predict the main tremors. Scientists from the Woods Hole Oceanographic Institution (WHOI) and the University of Southern California (USC) report that some types of large


Consolidation Not Enough to Save Box Shippers -Study

File photo: Hamburg Süd

The outlook for global container carriers remains rocky at the outset of 2017, according to a new study by AlixPartners.   Hanjin Shipping Co.’s bankruptcy in 2016 sent shock waves through the industry, while Brexit and the new U.S. administration’s policies threaten to inject further uncertainty into the future of global trade. These stances could reverse policies that have supported the growth of containerization since the 1950s


SENESCO Performs Facelift on NOAA’s Albatross IV

Most research ships don’t live to see their 40’s, and to approach 50 is almost unheard-of. But the Albatross IV is quite an exception to this maritime rule. Today, thanks to a recent overhaul at SENESCO’s repair facility in Quonset Point, Rhode Island, she is back at her home base in Woods Hole, Massachusetts preparing to head back out to sea for another 5-7 years of ocean exploration. The Southeastern New England Shipbuilding Corporation (SENESCO) began its a major overhaul on the


New Chinese Shipbuilder Unveiled

A new, bigger shipbuilder was unveiled in Dalian recently, as part of the restructuring of the city's shipbuilding industry, ShanghaiDaily.com reported. Dalian Shipbuilding Industry Co was formed by the merger of Dalian Shipyard Co and Dalian New Shipbuilding Heavy Industry Co. Dalian Shipyard, with more than a 100-year history, used to be one of China's big military shipbuilders. Dalian New Shipbuilding, established 15 years ago, was one of the country's biggest shipbuilders


Iran Makes $100 B Oil Find, Major Companies Compete For Big Deals

Iran Makes $100 B Oil Find, Major Companies Compete For Big Deals Iran announced its biggest oil find in 30 years last week, a 26-billion barrel field discovered just as the country drives to revive exploration activities and foreign firms compete for big deals. Oil Minister Bijan Zanganeh said the oilfield in the prolific southwest Khuzestan province has the potential to produce up to 400,000 bpd. He said that development on the field, which is close to the Iraqi border


CMA CGM Enters Agreements with CSCL, UASC

The CMA CGM Group announced the signature of three major agreements on the biggest worldwide maritime trades with China Shipping Container Lines (CSCL) and United Arab Shipping Company (UASC). Under the name of Ocean Three, the agreements; which include a combination of vessel sharings, slot exchanges and slot charters; concern the following maritime trades:  Asia-Europe, Asia-Mediterranean, Transpacific and Asia-United States East Coast.


Silver Lining for the Multipurpose Shipping Market

Image: Drewry Shipping Consultants Limited

 Following another poor year for multipurpose shipping with further erosion of rates making it the worst market in over 10 years, signs of recovery are now evident with momentum expected to build over the next few years, according to the latest Multipurpose Shipping Market Annual Review and


The (Really) Big Lift

Photo: SC Ports

Cranes: much more than just critical equipment.  At ZPMC, it means the supply chain itself.   In post-Panamax world – that is to say one which includes an expanded, deepened and improved Panama Canal – there are many layers to the logistics onion


Hapag Lloyd-UASC Merger Hits Snags

Photo: Hapag-Lloyd

A merger of Hapag-Lloyd and United Arab Shipping Company (UASC) has hit a snag, with the German shipping line and some banks seeking assurances that UASC's top shareholder Qatar remain committed to the deal for the long term, sources say.


JSW to Invest USD 1.1bln on Ports

Photo: JSW Infrastructure Ltd

 JSW Group will invest INR 7,000 crore (USD 1.1bln) more in the ports sector over next three years to create assets in the country as well as abroad, PTI reported.   The company is also looking at diluting up to 15 percent stake in the ports operating company, JSW Infrastructure


Hapag-Lloyd Says Prospects Buoyed by Rising Freight Rates

File photo: Hapag-Lloyd

German container shipping company Hapag-Lloyd expects increased operating earnings this year, it said on Friday, citing a rise in freight rates as market conditions improve.   The shipping industry has been grappling with a prolonged downturn brought about by overcapacity in a faltering


Pirates Seize Somali Vessel to Use as Floating Base

Pirates have seized control of a Somali fishing boat to use as a base from which to attack larger ships, police said on Friday, a week after Somali pirates hijacked their first commercial vessel since 2012.   Ten Yemeni crew aboard the boat were dumped on shore, officials told Reuters.


Baltic Index Inches Up on Firmer Panamax Rates

Photo: FotoFlite / DS Norden

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Thursday as panamax rates increased. The overall index, which also factors in rates for capesize, supramax and handysize vessels, closed up 6 points, or 0.5 percent, at 1,196 points


Top LNG Buyers Form Alliance to Push for Flexible Contracts

© akiyoko / Adobe Stock

The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers.   Korea Gas Corp (KOGAS) said on Thursday it had signed a memorandum of understanding in mid-March with


China Says Hopes New Japanese Carrier Doesn't Mark Return to Militarism

China said on Thursday that it hoped the entry into service of Japan's second big helicopter carrier, the Kaga, did not mean a return to the country's past militaristic history.   The ship, along with its sister the Izumo, gives Japan's military greater ability to deploy beyond its shores


ASIS Debuts New 9.8m Amphibious RIB

Photo: ASIS Boats

ASIS Boats has debuted its last release, a 9.8m Amphibious RIB able to achieve speeds of 55mph on water.   Special composite material and Kevlar  has been used in the boat construction to keep it light weight and strong at the same time.  


Maersk Line, Hamburg Sud Offer Merger Concessions to Gain EU Approval

File photo: Hamburg Süd

Maersk Line, the world's biggest container shipping firm and part of Danish conglomerate A.P. Moller-Maersk, has offered concessions to EU antitrust regulators in an attempt to get approval for the takeover of German rival Hamburg Sud.  


Skilled Workers Needed to Build Trump's Navy Vision

File Image: AdobeStock CREDIT Bogdan Vasilescu

U.S. President Donald Trump says he wants to build dozens of new warships in one of the biggest peace-time expansions of the U.S. Navy. But interviews with ship-builders, unions and a review of public and internal documents show major obstacles to that plan.  


Major Containership Drugs Bust in the Mediterranean

Customs inspectors in Malta have seized more than 300 kg (660 lb) of cocaine worth millions of euros on a container ship heading from Ecuador to Spain, Maltese officials said on Thursday.   Prime Minister Joseph Muscat hailed the find as the biggest drugs seizure in the history of the


Sanmar Receives Tug Orders from Italy

First vessel of Sirapinar Series delivered to Dubai (Photo: Sanmar)

Roughly one month after Turkish tug building company Sanmar laid the keels of two new Sirapinar Class tugs, the opportunity to purchase these ASDs has been snapped up by Italian operator Rimorchiatori Napoletani.   Commenting on the new design


Digital Tech Turning Around Marine Prospects in Uncertain Waters

Digital solutions help to de-risk decisions, bring practical, actionable insights into vessel and fleet performance and provide proven opportunities to optimize operations in a sustainable way. (Image: GE Marine)

The start of every year calls for time to reflect on the last. The offshore and marine industry can look back on 2016 as one of the most bruising in recent memory. The downturn has been tough and drawn out, with increased divestment, more stringent environmental regulations and a prolonged






 
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