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Five Year

November Ore Shipments Up on Great Lakes

Iron ore shipments on the Great Lakes reached their highest level so far this year in November. The trade totaled 4.6 million net tons, an increase of 27 percent over the preceding month. The upturn reflects higher operating rates at the nation’s steel mills that, in turn, have required the sailing of some U.S.-Flag lakers that had been idled. The most recent reactivation was on November 25 when the American Republic returned to service. The vessel was designed specifically to shuttle iron ore on the twisting Cuyahoga River in Cleveland, Ohio. Comparisons with a year ago and the month’s five-year average illustrate the depth of this recession. November loadings were six percent off the pace of a year ago, and nearly 14 percent behind the month’s five-year average. For the year, the Great Lakes iron ore trade stands at 27.5 million tons, a decrease of 50.1 percent compared to a year ago. The decrease is only slightly less when compared to the trade’s five-year average for the January-November timeframe – 49.3 percent.

FMC Technologies, BG Norge Agreement

FMC Technologies, Inc. (NYSE: FTI) announced that it has signed a multi-year frame agreement with BG Norge, a subsidiary of BG Group, to provide subsea systems for offshore projects. The five-year contract includes provisions for two additional five-year extensions. The agreement also includes an immediate call-off to perform a detailed engineering study related to equipment and services to support the Jordbaer field, located in the Norwegian North Sea.

Hearing – Homeland Security: The Next Five Years

The Senate Committee on Homeland Security and Governmental Affairs conducted a hearing entitled Homeland Security: The Next Five Years. As explained in her opening statement, Senator Susan M. Collins (R-ME) wants to assess the homeland security challenges the next five years will bring. Michael Chertoff, Secretary of Homeland Security, discussed those challenges, including port and maritime security. He noted that not every risk can be eliminated

Panama Canal Pilots Agree To Five-Year Contract

Panama Canal administrators and the waterway's most important human resource, the pilots, reportedly agreed on a five-year contract, ending 13 months of labor negotiations.

$60.7B: Total Offshore Wind Spend

New research released by energy business analysts Douglas-Westwood reveals the world offshore wind market will see expenditure of $60.7B over the next five years. By 2015, annual expenditure will be in excess of $19B. With over 3GW of capacity online by the end of 2010 and a further 2GW under construction at present, the offshore wind industry is growing extremely quickly. Over the five year period to 2015, more than 11GW of new capacity will be installed

MR Tankship Market Analysis: Second-Hand Price-Rise Outstrips Newbuild

MR2 Tanker Values: Image McQuilling Services

In their latest analysis, shipbrokers & marine transport consultants, McQuilling Services, in their latest analysis discuss observations, current and historical, for the clean tanker market, specifically MR tankers. The report concludes that they believe the current MR secondhand asset market will adjust to reflect the weak TCE (Time Charter Equivalent) environment over the longer term. Excerpts as follows: " In Figure 1 [shown here] we display the price movements over the last 15

Great Lakes Iron Ore Trade Up 30% in October

Iron ore shipments on the Great Lakes totaled 5,026,477 net tons in October, a 6.1% decrease compared to September, but a 30.5% improvement over a year ago.  Even so, loadings were still 8.6% below the month’s five-year average. October loadings at U.S. Great Lakes ports increased 28.3% compared to a year ago.  Shipments from Canadian ports along the Seaway were up 46%. Year-to-date the Lakes ore trade stands at 44 million tons

Dredging Services in the US Market Research Report

IBISWorld report indicates that government & private funding is expected to boost revenue for the US dredging industry. Excerpts from the report are as follows: A weak economy has made growth for dredgers slower than expected. Nevertheless, increased government and private-sector funding is expected to boost revenue for the industry over the next five years. While lacking in prominence, the Dredging Services industry is an essential part of the US economy

Vale Plans to Double Iron Ore Exports to China

Photo: Vale

Brazilian mining company Vale SA plans to double its iron ore exports to China within five years, Jose Carlos Martins, the company's head of ferrous metals, told reporters on Thursday. Rio de Janeiro-based Vale is the largest producer and exporter of iron ore, the main ingredient needed to make steel. Martins also said the company plans to export about 400 million tonnes of iron ore a year within five years, nearly 50 percent more than the 270 million tonnes it exported in 2013.

Farstad to Perform Subsea Support for Technip

Farstad Shipping ASA has been awarded a five-year framework agreement by Technip Norge AS for delivery of ROV support operations, light construction work, IMR and other subsea related activities.   The agreement gives Technip the right to utilize the vessel up to 320 days per year, and to extend the contract with a further up to five-year period. Commencement of the framework agreement will be first quarter 2017.  

Peel Ports Tops 'Track 250' League Table

Peel Ports chief executive Mark Whitworth receiving the Sunday Times Grant Thornton Top Track 250 award from Grant Thornton UK chief executive Sacha Romanovitch

  Leading UK port operator, Peel Ports Group, has been recognised as the UK’s top company in this year’s prestigious Sunday Times Grant Thornton Top Track 250 league table.   Its ambitious development plans and strong financial results were key factors in the

Yildirim to Sell its CMA CGM Shares

Photo: Yildirim Group

 French shipping company CMA CGM has revealed that the Turkish conglomerate Yildirim Group wants to sell its 24% stake in the carrier.   Yildirim Holding planned to divest its major stake of one fourth in CMA CGM, by 2015, President and CEO of Yildrim Holding

Calnetix Technologies to Present at ASME ORC 2015

75-kilowatt  organic Rankine cycle turbogenerator originally used at an experimental power plant in Kuopio, Finland Courtesy Wikipedia

  Engineers from Calnetix Technologies will present at the American Society of Mechanical Engineers (ASME) Organic Rankine Cycle (ORC) 2015 Conference in Brussels, Belgium, Oct. 12-14.   Controls and Systems Engineer Chris Sellers will give a paper

Algoryx Simulation, Kongsberg Maritime Ink R&D Deal

AgX Dynamics can solve millions of physics equation in real time.

  Kongsberg Maritime and Algoryx Simulation have entered a five year agreement, which supports Kongsberg Maritime’s continuing development of fidelity and realism in its K-Sim range of maritime simulator systems. Simulators are today essential and integral in training, planning

Glencore Assets Plunge But Hope for Bondholders Remains

Glencore's debt and equity plunged on Monday on the back of a damning analyst note, with only the commodity firm's shortest bonds maturing this year managing to resist the sell-off.   But the outlook for the debt-laden firm does not appear to be as bleak as the headline figures suggest

BSM to Manage 6 Maersk Line Box Ships

Photo: Maersk Line

Bernhard Schulte Shipmanagement (BSM) announced that it will take over full management of six containerships on behalf of Maersk Line A/S. Presently managed in-house by Maersk, the six vessels ranging in size from 2,500 to 11,000 TEU. Over the next five years

Intermarine Promotes Corporate Finance Director

Chad Call (Photo: Intermarine LLC)

Project, breakbulk and heavylift cargo transporter Intermarine, LLC reports it has promoted Chad Call to Director of Corporate Finance. Call will continue to report to Michael Dumas, Executive Vice President and Chief Financial Officer.

Singapore Offers Funding to Build LNG Vessels

Image: MPA

 Singapore Offers Funding to Build LNG Vessels   Port of Singapore offers S$12 million funding for building of LNG-fuelled vessels as Singapore advances LNG bunkering efforts to meet future demand   The Port of Singapore, regarded as a leading bunkering hub

New Class Rules Favor Seawater Lubricated Props

Thordon Bearings’ seawater-lubricated propeller shaft bearing system meets classification society rules for extended shaft withdrawal periods (Image: Thordon Bearings)

Classification societies are changing their monitoring rules for seawater-lubricated propeller shafts in line with the rules governing the inspection and withdrawal of oil-lubricated stern tube systems.   China Classification Society (CCS), for example

Historic Pacific Trade Deal Faces Skeptics in US Congress

Photo: Port of Los Angeles

Twelve Pacific Rim countries on Monday reached the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 percent of the world's economy in a deal that faces skepticism from U.S. lawmakers.   The Trans-Pacific Partnership (TPP) pact struck in Atlanta after marathon

Rieber Amends Dolphin Deal

Polar Duke. Photo: GC Rieber Shipping ASA

 Norwegian shipping company GC Rieber Shipping ASA has entered into an agreement with Dolphin Geophysical to increase Dolphins competitiveness in a challenging market.    Rieber has agreed to take early redelivery of the survey vessel Polar Duke from Dolphin  as part of an

Port of Piraeus Privatisation Delayed

Image: Piraeus Port Authority S.A

 The Greek government plans to delay the privatization process for its largest Port, Piraeus, by a few weeks due to delays caused by the September 20 election to the works of the ministries involved in the procedure, reports Reuters.  

Indonesia Plans to Build 22 Ports

Image: PT. Pelabuhan Indonesia II

 Indonesia Port Corporations (IPC) or PT Pelabuhan Indonesia (Pelindo) II, Indonesia’s state-owned port operator is to build 22 ports in the country in the next five years for an anticipated cost of around $3.5 billion.   “We are targeting to build 22 ports from Belawan to

N. Asia Snaps up Russian Crude Oil

Mideast crude freight to Japan highest since 2010. North Asian refiners have snapped up Russian crude oil loading in the last two months of this year to meet peak winter demand as Middle East and West African grades have become more costly after freight rates hit multi-year highs

Moody Upgrades Port of Palm Beach

Palm Beach Port

  The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable. The report, released October 2, 2015, documented the port’s strengths

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