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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.  


Chevron, SK LNG Trading Ink Deal for LNG Supply

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Chevron Corporation today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4


Indonesia’s Pelindo I Aims High

Image by Pelindo I

Indonesian state-run port operator Pelindo I plans to modernize and expand five of its ports this year. It has invested $2.7bn to develop ports in support of President Joko Widodo's maritime highway construction program.  The five ports scheduled for this year included Malahayati port


A&P Contracted for Navy Tanker Maintenance

Image by A&P Group

A&P Group, the UK’s largest ship repair firm has bagged a £15 million military contract to complete the fit-out of the Royal Navy support group’s new fleet of tankers.   The Cornish shipbuilder will customize and maintain the Royal Fleet Auxiliary’s four new


US Proposes Allowing Oil, Gas Drilling off Atlantic Coast

The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast.   The 2017 to 2022 drilling plan begins a process that could take many years before waters off the coasts of Virginia, North Carolina


South Korean Shipyard Orders Plunge

South Korean shipbuilders (Image: Koshipa)

As the global shipbuilding orders have declined due to fall in oil prices, the South Korean shipbuilders have also experienced a steep fall in order levels too, says latest data.   Industry data by global market researcher Clarkson Research Services released today (Friday) revelealed that


McMurdo Awarded $6m in SAR Contracts

Awards for next-generation COSPAS-SARSAT search and rescue (SAR) hardware and software systems extend installed base in Americas, Europe and Asia   Techno-Sciences, Inc. (TSi), the recently-acquired company of McMurdo Group, the end-to-end search and rescue (SAR) and maritime domain


Aalesund University College Upgrades Navigation Simulator

One of the first K-Sim Navigation simulators to be installed May 2015. (Image: Kongsberg Maritime)

Aalesund University College has become one of the first Kongsberg Maritime simulator users to migrate to the new simulator technology platform, K-Sim Navigation. In a contract signed on January 6, 2015 following an open tender by the college


Tanker Oil Spills Notches New 5-year Low

ITOPF Graph

A new five-year low in oil spills from tank­ers reported by the International Tanker Owners Pollution Federation (ITOPF), as the average for 2010-2014 falls to 1.8 large spills per year.   During the year, ITOPF recorded 1 large spill of bitumen (over 3


CEVA Again "Logistics Co. of the Year"

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 CEVA Logistics, one of the world's leading supply chain companies, has been named Logistics Company of the Year in Italy for the fifth time by Assologistica, the leading Italian association of logistics companies. This year's award was given in recognition of CEVA's TechCity - a logistics


Jawaharlal Nehru Port Aims High

Courtesy: Jawaharlal Nehru Port

India’s largest container port, the Jawaharlal Nehru Port (JNPT), said it aims to grow as one of the top 10 global container ports in the next five years.   After announcing his 'Make in India' vision plan, the Prime Minister Narendra Modi's first port of call was JNPT


Face-lift for Port of Windsor

Image: Great Lakes-St. Lawrence Seaway Authority

The Windsor Port is key area in the planned $7-billion worth of investments to transform Canada’s most important transportation and trade networks, the Great Lakes-St. Lawrence Seaway. Approx $60 million has been spent in Windsor to improve infrastructure the last five years. 


NZ Manufacturer Bags Anchor Supply Deal

Para Sea Anchor testing with the U.S Navy off the Coast of San Diego (Image by Coppins Para Sea Anchors)

New Zealand maritime manufacturer Coppins Para Sea Anchors has secured a multimillion-dollar contract to supply anchors to a Norwegian salvage company.    The family business firm based in Motueka on the South Island has sent the first of two one-tonne sea anchors to the Norwegian


Port of Long Beach Sees Third-Busiest Year Ever

Photo courtesy of the Port of Long Beach

Cargo numbers edge up with economy    Cargo container trade at the Port of Long Beach climbed 1.3 percent in 2014, indicating continued economic growth for the U.S. and bringing the port its third-busiest year ever behind the peak years of 2006 and 2007, the port announced.  


Port Metro Vancouver Installs Noise-monitoring Stations

Image: Port Metro Vancouver

Port Metro Vancouver has installed eight long-term noise monitoring stations along both sides of the Burrard Inlet waterfront after receiving an increasing number of noise complaints from North Shore and Vancouver residents, says a report in The Province


Oil Majors Seek to Claw Back Costs from Service Firms

Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house, after losing hundreds of billions on cost overruns in the last five years. Cost overruns and delays were the main reason why oil majors generated






 
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