Marine link
 

Bounce Back

A.P. Moeller Shares Bounce Back

Danish A.P. Moeller shares rebounded on Friday after news of its purchase of Dutch tug and salvage company Wijsmuller Group Holding on Thursday, brokers said. The two A P Moeller stocks, D/S 1912 and D/S Svendborg, traded at 69,500 crowns ($7,898) and 91,500 crowns respectively, 2.2 percent and 1.7 percent up from Thursday's close. The Copenhagen bourse's top 20 index KFX was down 0.4 percent at 316.15. Moeller shares have underperformed the KFX index by more than three percent the past 10 days, dented by news that Morgan Stanley within a year would cut the conglomerate's weight in its Denmark index. "The shares are rebounding on the Dutch news and it seems foreign sale pressure in the shares has faded," a trader said. Moeller's tug and salvage unit Svitzer said on Thursday it would buy Dutch Wijsmuller for around one billion crowns, a source said. The acquisition was seen increasing Svitzer's fleet to more than 220 vessels from the present 70.


Worldwide Ship Traffic Up 300% Since 1992

Global shipping routes crisscross the world’s oceans in this map of shipping lanes derived from a 2008 study of the human impact on marine ecosystems. (Credit: Grolltech)

Satellite data reveals major boost in shipping traffic Maritime traffic on the world’s oceans has increased fourfold over the past 20 years, according to a strudy recently published by the American Geophysical Union which examined international ship traffic. The research, which used satellite data to estimate the number of vessels on the ocean every year between 1992 and 2012, found that the number of ships traversing the oceans grew by 60 percent over the time span


E&P Spending 2000: Boom or Bust?

While the theoretical jury deciding which direction the offshore drilling market will take is still out, recent data suggests that the level of spending internationally will disappoint. Calling a 10.2 percent gain in spending may seem a bit harsh, particularly given the depths to which the market has sunken in the previous two years. But considering that the price per barrel has catapulted from the $10 level early in 1999 to the mid-20's by the beginning of 2000


Millennium Fever Should Drive Panamax Market Up

Fixing to cover the millennium holiday period is expected to kick-start the Panamax market in the fourth quarter, shipping broker Simpson Spence & Young (SSY) said. "The belief is that the fourth quarter will see a major improvement as people look to fix for the holiday period," SSY said in its latest monthly report. Capesize supply/demand fundamentals were also looking strong for the period, the broker said. However


Kirby Corp. Records Solid Results

Kirby Corp. has apparently had success incorporating Hollywood Marine, a move which effectively created the largest inland barge operator in the country. In February, the company reported earnings per share (EPS) of $0.38, versus $0.31 a year ago. While the company appears strong, poised for further growth, there are some concerns as noted in a research report from Lazard Freres & Co. LLC. Management expects the slowing U.S


Carib Tanker Rates Tank In New Year

Caribbean dirty tanker trades have sustained a massive hit, tumbling from W255 at the end of last week to W202.5, New York brokers said. "The holiday doldrums have left a lot of spare tonnage and that has affected rates. With both Christmas and New Year's Day falling on Mondays this year, we've had two short weeks in a row and the market simply couldn't take that," said one dirty tanker broker. He pointed to Exxon's fixture of the 70,000 tonr Lucky Lady from Covenas to the U.S


Wales Reflects on Sea Empress Oil Spill

On the night of Thursday, February 15, 1996, shortly after 8pm the 147,000-ton supertanker Sea Empress had begun the final stages of its three-day voyage from Grangemouth, at the mouth of the River Forth, to Milford Haven docks and the Texaco refinery. As it was being piloted into port, the tanker, carrying a full cargo of North Sea light crude, ran aground on rocks in Mill Bay, just off St Ann’s Head, rupturing its oil tanks


ABB Wins $26m Marine Repeat Order

Titan+Class_Bird+view.jpg

ABB won a $26m order to supply electrical power and propulsion systems for two next generation ‘Ramform’ vessels, capable of three-dimensional (3D) seismic data acquisition for deep sea resource exploration. The ships will be constructed by Mitsubishi Heavy Industries, and delivered in 2015 to Norway’s Petroleum Geo-Services ASA (PGS), a leading company in marine seismic and reservoir data acquisition, processing and analysis/interpretation services


MHI Contracted for 3D Seismic Survey Vessels

Ramform Seismic Survey Ship: Photo courtesy of MHI

Mitsubishi Heavy Industries, Ltd. (MHI) gets additional order to build 2 seismic vessels for Norway's Petroleum Geo-Services ASA (PGS). The order for the two vessels was placed upon exercise by PGS of the option right that was provided when two same type vessels were ordered to MHI in April 2011. The two newly ordered vessels are scheduled for delivery in the first and second half, respectively, of 2015. With this latest order


US Imports Above Average as Port Contract Talks Continue

Container lift: File photo

Retailers concerned by the lack of a West Coast longshoremen’s contract will continue to bring merchandise into the country at above-average levels this month but volume will drop from the record set in August, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates, and excerpted here. “The negotiations have made progress and retailers have been stocking up


Ship Management Contracts for BSI Newbuilds

Photo: Ulstein Group

Norway-based Golden Energy Offshore has entered into management contracts for two platform supply vessels (PSVs) under construction at Ulstein Verft for Blue Ship Invest (BSI). The PX121 designed vessels are due for delivery in the first quarter of 2015


Sinking Fishing Vessel and Crew Safe in Honolulu

The fishing vessel Pacifica moored safely in Honolulu Harbor Monday after taking on water when insufficient shaft packing in the stern tube allowed water to flood the vessel approximately 144 miles north northeast of Oahu, the U.S. Coast Guard (USCG) reported.


Samsung Heavy Scraps Samsung Eng Takeover

Gepje Shipyard (Photo: Samsung Heavy Industries)

Samsung Heavy Industries said on Wednesday it has decided to scrap a $2.5 billion stock deal to take over Samsung Engineering, potentially complicating restructuring plans by parent Samsung Group ahead of a looming succession. Shareholders doubting the synergies of the merger had asked the two


Video: Reefer RoRo Ship Design Rebooted

Image: Knud E. Hansen A/S

Expanding on the Reefer RoRo Ship design release in September last year, naval architects group Knud E. Hansen A/S has continued the development of the new Reefer RoRo Ship design with version II. A video showcasing the design is available here.


New Bahamas Northwest Chart Set Upgrade

Region_9_1_nv charts.jpg

nv charts announces the release of its newly updated chart set for Region 9.1, Bahamas Northwest, including Bimini and Berry Islands, Nassau to Abaco, and Grand Bahama, for 2015/2016 in paper and digital format.   The chart set includes a CD of digital charts


India to Develop Iran's Chabahar Port

The Port of Chabahar is a seaport in Chah Bahar in southeastern Iran

 India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers. The port of Chabahar in southeast Iran is central to India's efforts to circumvent Pakistan and


Global Ship Lease Buys Containership from OOCL

Global Ship Lease, Inc. took delivery of a 2005-built, 8,063 TEU containership, the OOCL Tianjin. Upon delivery, the vessel commenced a timecharter back to the seller, Orient Overseas Container Lines Limited (OOCL), for 36 to 39 months at a rate of $34,500 per day


Bangladesh Power Cut Plunges Millions into Darkness

Bangladesh vendors light their stalls with candles during a power blackout in Dhaka

   Bangladesh was hit on Saturday by a major power outage that brought much of normal life to a standstill, forced hospitals and garment factories to rely on back-up generators and even plunged the prime minister's official residence into darkness.


Heavy Clashes Near Benghazi Seaport

Heavy fighting broke out near the seaport of Libya's eastern Benghazi city on Monday as the army, backed by forces loyal to a former general, attacked Islamist groups, residents said. Dozens of residents were leaving the city, heeding a call by the army to evacuate the port area where military


Sanctions Bite Russian Arctic Oil Shippers

Photo: United Shipbuilding Corporation

Shipping services that support Russia's attempts to extract oil from remote parts of the Arctic will run into difficulties as banks scale back energy financing due to Western sanctions, increasing transport costs for the frontier sector. Sanctions imposed on Russia by the United States and


Alpha Bank Raising $510 mln From Securitized Loans

Greece's Alpha Bank is set to raise about $510 million from securitized shipping loans in one of the first European asset-backed deals in the sector for nearly a year, finance industry and Alpha bank sources said on Friday. The deal, which is being arranged and financed by Citigroup and bundles


Samskip Puts Multimodal Transport on the Norwegian Agenda

From left to right: Port Director of the Port of Oslo - Anne Sigrid Hamran, Director Norwegian Port Association - Arnt-Einar Litscheim, Country Manager Samskip – Bjorn Waglen and the Minister of Transport - Ketil Solvik-Olsen.

Samskip Multimodal presenting a ship model to the Norwegian Minister of Transport, Ketil Solvik-Olsen, last week, signalling its commitment to shortsea in specific and multimodal services, the company said. Samskip joined the Port of Oslo and the Norwegian Port Association to present the model


G20 Targets New Global Energy Body

G20

  Leaders at the G20 Summit are seeking to lay the foundations for a new global energy trade regime to help ensure open markets and prevent oil and gas supplies being used as tools of foreign policy, the Australian newspaper reported on Saturday.


Oil Surges After Brent Crash

Oil

  Brent crude jumped almost $2 a barrel on Friday for its biggest daily gain in three weeks as support emerged a day after prices crashed to four-year lows below $80, but analysts were skeptical the rebound would continue, citing concerns over oversupply.


Strathpine Sailor Helps Render Safe

Seaman Communication and Information Systems sailor Annaleise Easlea raises the pennant flag during a sunset ceremony onboard HMAS Choules, in Jervis Bay.

  The lifestyle that comes with a career in the Royal Australian Navy appealed the most to Annaleise Easlea when she enlisted at age 20. Although she did not  know anyone in the Navy before she joined, Seaman Easlea has discovered the camaraderie that exists on board one of the






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