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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.  


NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it has agreed to acquire two Far East built Suezmax tankers for a total price of approximately $122 million.  


Philippines Mulls Massive Military Spend

Philippine generals on Wednesday asked Congress to almost triple annual defence spending over the next five years to upgrade equipment amid an escalating marine dispute with giant neighbour China. The Philippines currently is in the middle of a 998 billion pesos ($21


DSM Dyneema Names President’s Successor

Golnar Motahari Pour (Photo: DSM Dyneema)

Gerard de Reuver has elected to step down as President of DSM Dyneema on August 1, 2015 after five years in the post, the company announced today. He will be succeeded by Golnar Motahari Pour, a German national with extensive global management experience.  


Engine Refit for Mersey Pilot Boat

James Troops Robert Pollock and Derek Bate with Volvo engine (Photo: James Troop)

James Troop supplies two new Volvo Penta engines to upgrade Mersey pilot boat   Merseyside-based engine specialist James Troop & Co has secured a deal to supply and install two Volvo Penta D9 engines to extend the service life of one of Liverpool’s River Mersey pilot boats.


Vallianz Bags US$300m Contract to Supply Two Platforms

Pic by Vallianz Holdings

 Singapore-listed Vallianz Holdings has won a contract worth up to US$300 million (S$405.51 million) to supply two self-elevating platforms to a large national oil company in the Middle East.   The contract from one of the world’s largest national oil companies involves the


Great Lakes Iron Ore Trade Dips in June

Photo: LCA

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.2 million tons in June, a decrease of 6 percent compared to May, and nearly 5 percent below the level of a year ago, the Lakes Carriers' Association (LCA) announced.


EMGS Permitted for Multi-client Survey in Mexico

5 year plan SENER and EMGS MC plans

  EMGS has received permits from Mexico's Comisión Nacional de Hidrocarburos (CNH) authorizing the acquisition of up to approximately 88,000 square km 3D EM multi-client data in the Salina de Itsmo Basin.   EMGS will prioritize acquiring EM data for the future bid rounds in


WCI Names Zea as Director

Tracy Zea (Photo: WCI)

Waterways Council, Inc. (WCI) has named Tracy R. Zea as its Director-Government Relations, effective August 4.  He will be based in the Washington, D.C. office and will primarily advocate for WCI’s goals for authorizations and appropriations which support a modern, efficient


Port of Rotterdam Records Increased Throughput

Image: Port of Rotterdam

 Total throughput at the Port of Rotterdam grew by almost 7% in the first half of 2015 thanks to a surge in oil products movements.    The port attributed their growth by the increased throughput of oil products, which increased by almost 30% as well as the 8


Vietnam to Go-ahead with $2.5 bln Port Project

  Vietnam's government has agreed on a port project in the southern province of Ca Mau, costing some $2.5 billion according to media reports and which would be able to host some of the world's biggest ships. The Hon Khoai port would be built under a public-private partnership


Foreign Steel Cuts Lakers’ Ore Float in June

 With foreign steel now commanding nearly 32 percent of the U.S. market, it was inevitable that iron ore cargos hauled in U.S.-flag Great Lakes freighters (lakers) would take a hit, and that hit came in June, the Lake Carriers’ Association (LCA) reported. Cargos totaled 4


DNV GL: ‘Big Data’ Evolving Fast; LNG Slower than Expected

“We will see lower growth compared to what we have seen in the past four years. But I think the world economy is still on track to more than double in size over the next 40 years.  I also see a future in which digitalization,  connectivity and internet of things.”  Remi Eriksen, newly appointed  Group President & CEO, DNV GL

In connection with the Nor-Shipping Conference and Exhibition held last month in Oslo, Remi Eriksen, the newly appointed Group President & CEO of DNV GL, took the opportunity to present himself to the international maritime media. Eriksen will take over on August 1, 2015, from retiring Henrik O


Container Equipment Leasing Rates Hit Record Lows

Development of per diem rental rates and ex-factory prices for newbuild 20ft standard container placed on long-term operating lease (LTL), 2004-16 (Source: Drewry Maritime Research)

Container equipment rental rates came under renewed pressure in 2014 and by mid-2015 new dry freight pricing was at a 10-year low, while lease rates had fallen to an all-time low, according to the latest edition of the Container Leasing report published by global shipping consultancy Drewry


CNO Puts Warfighting First in Navy’s Five-year Plan

CNO Adm. Greenert holds an all-hands call with service members, civilians and their families at Naval Support Activity Bahrain where he discussed the current status of the Navy and presented U.S. Naval Forces Central Command with the Navy Unit Commendation for meritorious service in the performance of assigned missions from June 2010 to June 2015. (US Navy photo by Nathan Laird)

U.S. Chief of Naval Operations (CNO) Adm. Jonathan Greenert on Monday highlighted the U.S. Navy's intended track and investments in a document that outlines the Navy’s navigational plan for the next five years.   "This year's navigation plan highlights our Navy's key investments


USS Cincinnati Will Be Powered by GE Engines

LM2500 Engine (Photo: GE Marine)

GE Marine said its LM2500 marine engines will provide power for the U.S. Navy’s new Littoral Combat Ship (LCS), USS Cincinnati (LCS 20). USS Cincinnati’s two engines will be manufactured at GE’s Evendale, Ohio facility. Each LM2500 engine produces more than 29,500 horsepower






 
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