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.
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
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.
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
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 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.
Drones, remote inspection technologies and insights on cybersecurity were some of the main topics discussed at the DNV GL Innovation Day in Singapore. Some 120 representatives from shipowners, managers, manufacturing companies, yards and other stakeholders participated in the event held this
Iran's crude oil exports are set to decline 5 percent in November to a four-month low, a source with knowledge of its preliminary tanker schedule said, as low seasonal demand in Europe takes the edge off its post-sanctions export bonanza.
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5,258,269 tons in September, a decrease of 5.6 percent compared to a year ago, the Lake Carriers’ Association reported. Shipments trailed the month’s five-year average by even more, 15.3 percent.
Other container shipping firms may join Hanjin Shipping Co Ltd in receivership before the industry emerges from its current shakeout, the vice chairman of world number three player CMA CGM said on Wednesday. South Korea's Hanjin filed for protection from creditors in late August
Kobe Steel, Ltd. said it has received an order to supply the first two screw compressors for use with marine dual fuel engines. The compressors will be installed in an LNG carrier to be owned by a 50/50 joint venture between Mitsui O.S.K. Lines Co., Ltd
AP Moller-Maersk's Maersk Line shipping arm said it is considering proposals from the Suez Canal Authority for a new toll system that could involve advance payments, reports Reuters. "They have proposd a new payment method and presented it to us, and we are looking at it now
Digital Marine Solutions AS (DMS), the parent company of C-Map, has appointed Paul Østergaard as executive chairman. Together with the DMS board of directors and the C-Map leadership team, Østergaard will develop and implement the company’s strategic plan and lead the company
U.S.-flag Great Lakes freighters (lakers) moved 9.1 million tons of cargo in September, a decrease of 7 percent compared to a year ago, according to the Lake Carriers’ Association (LCA). The September float was also 8.7 percent below the month’s five-year average.
Wood Group has secured a five year contract to provide engineering, procurement, construction and maintenance services to the Hibernia platform, offshore Newfoundland, from Hibernia Management and Development Company Ltd. (HMDC). The contract will be executed by Wood Group’s Eastern
Inmarsat has appointed Mark Warner as Head of Marketing Communications for its Maritime business unit. Reporting to Inmarsat Chief Marketing Officer Chris McLaughlin, Warner will take responsibility for maritime marketing communications activities
Teekay LNG Partners intends to issue new five-year senior unsecured bonds in the Norwegian bond market. Net proceeds from the bonds are expected to be used to fund newbuilding installments, as well as to refinance NOK bonds maturing in May 2017 and general partnership purposes
Oldendorff reported that it is continuing its fleet expansion and have acquired eight more vessels, including three Babycapes and five Post-panamax bulk carriers, as follows: 119,000 tdw, built 2011 – UBC Onsan 119,000 tdw, built 2011 – UBC Ohio
Syria's state grain buying agency Hoboob struck a deal to purchase one million tonnes of Russian wheat from political ally Russia, covering the needs of government-controlled areas for a year. The Damascus government subsidises bread for the areas it controls ensuring the supply of flat loaves
The implementation of a global low-sulphur fuel law for ships in 2020 would prevent 200,000 premature deaths globally, a health study by a group of researchers from the United States and Finland reveals. A report in the Guardian quoting an unpublished International Maritime
NYK Line may book losses as shipping slump slashes asset values. Nippon Yusen, Japan's biggest shipper by sales, warned it would book a $1.9 billion hit to first-half income, after the industry's deepening slump forced it to write down the value of container ships and other assets.