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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.  


US Contract for Next Generation Nuclear Sub Planning Program

Image: General Dynamics Electric Boat.

 The US Navy has awarded General Dynamics Electric Boat a $23.6 million contract to continue development work on the Ohio-class replacement nuclear submarine, General Dynamics said in a press release.   "Under the terms of the modification


Aker Joins Johan Sverdrup Phase 2 Study

Location of Johan Sverdrup field Map by Wikipedia

Aker Solutions will deliver a concept study on a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field, Norway's largest oil find in three decades. The study includes design solutions for a tie-in of the platform and future satellites to the field


FSRU Golar Tundra Sold to Golar LNG Partners

Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million.   In connection with the closing, Golar LNG Partners will receive a daily fee plus operating


Cummins Expands Marine Tier 3 Product Line

Image: Cummins

Cummins Inc., a manufacturer of diesel engines and generator sets for the marine industry, has launched a new Onan marine U.S. Environmental Protection Agency (EPA) Tier 3-certified generator, the 55-kW MDDCM. “The expansion of our EPA Tier 3 marine product lineup to 55 kW with the MDDCM


US Awards Grant for Maritime Apprenticeships

Marine engineering apprenticeship program will create greater access to education and training in maritime and advanced manufacturing fields    Foss Maritime announced today a partnership to establish the curriculum for a new marine engineering apprenticeship program


Fires Still Raging at Major Libyan Oil Terminal After Attack

Fires at oil storage tanks in the major Libyan terminal of Ras Lanuf were still raging on Friday more than 24 hours after an attack by Islamic State militants, a firefighting official said.   Mustafa Moussi said fires were burning at five of the terminal's 13 storage tanks


China's Maritime Economy Approaches $1 Trillion

Image: National Maritime Museum of China

 Total maritime output or maritime economy of China  is expected to generate nearly 6.5 trillion yuan (988.79 billion U.S. dollar) in 2015, about 7 percent more than 2014, reports Xinhua.   State Oceanic Administration (SOA) said that the total production value last year is


U.S. Senate Starts Debate on Broad Energy Bill

The U.S. Senate on Wednesday began debate on the country's first major energy bill in over eight years, featuring measures aimed at protecting the electric power grid against cyber attacks and speeding the export of liquefied natural gas.


McQuilling Releases 2016-20 Tanker Outlook

McQuilling Services has  announced the release of the 2016-2020 Tanker Market Outlook.    This report is a five-year outlook for eight vessel classes across 18 benchmark trades and represents the company’s 19th forecasting cycle


GE Extends Royal Canadian Navy Contract

Photo courtesy of GE Canada

GE Canada announced it recently extended a contract with Public Services and Procurement Canada to provide maintenance and logistics support services for a 15th year. The contract covers the Royal Canadian Navy’s (RCN) fleet of LM2500 aeroderivative gas turbines that power Halifax-class


Norsafe Offers Complete Safety Package for Seafarers

Courtesy Norsafe

Norsafe has become the first lifeboat manufacturer to provide STCW and Norwegian Oil and Gas (NOROG) compliant training courses for seafarers. This means that the company is the only lifeboat manufacturer that offers production, servicing and certified training in the operation and maintenance


Aker Solutions Wins MMO Contract in UK

Photo Aker Solutions

Aker Solutions won a framework agreement to provide engineering and construction services for several offshore oil and gas fields in the UK North Sea. The contract has a fixed period of five years as well as an option to be extended by five years


Pentagon Chief Unveils Plans to Buy More High-end Ships

U.S. Secretary of Defense Ash Carter (Photo: U.S. Department of Defense)

U.S. Defense Secretary Ash Carter on Wednesday mapped out plans for the U.S. Navy to buy more high-end submarines, destroyers, fighter jets and unmanned underwater vehicles using $8 billion in savings generated by scaling back orders for smaller Littoral Combat Ships.  


GEODIS joins Maersk Line’s Carbon Pact challenge

Photo: Maersk Line A/S.

 Global Forwarder GEODIS and Maersk Line deliver their share and partner on a 5-year strategic commitment to reduce their environmental footprint.    This agreement integrates both companies’ sustainable commitments to reduce GEODIS’ CO2 emissions per container moved


Bangladesh, Thailand Plans Direct Coastal Shipping

 Thailand and Bangladeshi Prime Ministers. Photo: Govt Press Release

 Bangladesh and Thailand are planning to launch direct coastal shipping, connecting the Chittagong Port in the Bay of Bengal with the Ranong Port in the East of the Andaman coast in south-western Thailand.   Bangladesh Ambassador to Thailand Saida Muna Tasneem said: “Both






 
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