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, 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.
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.
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
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
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
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
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
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.
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.
Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales. In this new position, Brown will provide strategic and administrative direction and leadership to support overall segment growth. His primary focus will be to secure and maintain effective business
More professional mariners than ever are coming to SUNY Maritime College for training and courses to maintain their credentials and endorsements, the college reports. The increased enrollment is being seen across the industry, as the December 31 deadline approaches to comply with the U.S
British ports could gain a competitive edge in tough shipping markets through post-Brexit exclusion from planned European Union regulation of the sector, leading British port officials told Reuters. Last month's vote to leave the EU means that British terminals are set to escape the
Navis has announced a new N4 terminal operating system (TOS) licensing agreement with Italian terminal, Trieste Marine Terminal (TMT). TMT selected the Navis TOS to optimize the terminal’s operational cycle and lower costs. The ultimate goal is to increase TMT’s efficiencies
Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran. Bandar Abbas accounts for 90% of the in- and outgoing containers of Iran and for nearly half of the 200 million tonnes of freight handled by
While U.S. ports have been busy, overall the beginning of the shipping season has been slower than anticipated. “Although the overall cargo numbers remain down when compared to the same time frame last year, in June we were above the five-year average,” said Betty Sutton
A protest over wages that has shut the eastern Libyan oil terminal of Hariga has forced the operator of the Sarir oil field to suspend production of 100,000 barrels per day, an oil company spokesman said on Tuesday. Omran al-Zwai, spokesman for Libya's eastern state oil firm AGOCO
Ghana has cut its 2016 economic growth forecast sharply to 4.1 percent from 5.4 percent due to lower export prices and irregular oil production, Finance Minister Seth Terkper told Reuters on Monday. Oil output was halted between March and May at the offshore Jubilee field due to a
Stolt-Nielsen buys competitor's chemical tanker operations. Deal includes 13 chemical tankers and 50 pct in 8 newbuilds. Details of the deal include: Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers.
India’s position to 35th rank in the latest bi-annual World Bank Logistics Performance Index (LPI) report will open many corridors of opportunities as industry will witness swift growth in international as well as inter-state freights, an effect of Union Government’s commitment to make
Shipments of limestone on the Great Lakes totaled 3.7 million tons in June, a decrease of 7.8 percent compared to a year ago, and slightly below the month’s five-year average, the Lake Carriers’ Association (LCA) reports.
The Lake Carriers’ Association (LCA) reports that iron ore shipments on the Great Lakes and St. Lawrence Seaway totaled 5.8 million tons in June, a decrease of 7.3 percent compared to a year ago. Shipments also trailed the month’s five-year average by 8.4 percent.
Intellian’s appointment to Korea’s prestigious ‘World Class 300’ list of the country’s most promising technology companies is a distinguished achievement and confirms its commanding lead in the mobile satellite communications terminal sector.
Scorpio Tankers Inc. announced that it has received a commitment for a loan facility up to $300 million from ABN AMRO Bank N.V., Nordea Bank Finland plc, acting through its New York branch, and Skandinaviska Enskilda Banken AB. The loan facility will be used to refinance the existing
Shipping is the least optimistic industry within the transport sector, by a significant margin, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright. Only 15% believe that current market conditions are positive