Marine link
 

Next Week

Last Call to Register for SHIPPINGInsight

hero_slide_industryleaders.jpg

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American maritime industry technical conference and exhibition, which opens next week in Stamford, Conn. The event will take place at the Sheraton Stamford Hotel Sept. 30 – Oct. 2. It includes a full-day dedicated Marine LNG Symposium followed by the two-day Fleet Optimization Conference. Event highlights include: Senior executives from more than 20 major shipping companies as panel moderators and speakers 48 speakers and panelists sharing expertise and insights Two open roundtable sessions 30 exhibitors showcasing products, systems and solutions 14 networking events First annual SHIPPINGInsight Award presentation at gala luncheon Oct. 1 “We look forward to welcoming speakers and delegates next week,” said conference co-director Frank Soccoli. “The SHIPPINGInsight events are designed to give shipping professionals a unique opportunity to learn from experts, share knowledge and network with their peers from all segments of the industry.” shippinginsight.com  


Businessman To Discuss Titanic Replica

South African businessman Sarel Gous is expected to visit Belfast next week to discuss plans to build a replica of the Titanic and launch it as a commercial cruise liner. Gous reportedly paid Harland & Wolff, the builders of the original Titanic, to do a feasibility study and is traveling to Belfast to meet city council members and discuss his plans. In 1998 Gous secured the original plans of the Titanic, which was owned by the White Star shipping line


Casino Boat to be Unveiled

According to the Chicago Sun Times, pending regulatory approvals, the grand opening of the new $170 million gambling vessel at the Blue Chip Casino & Hotel in Michigan City, Ind., will be celebrated next week. It will mark the culmination of a two-year on-site construction project. The new boat will feature a 65,000-sq. ft. casino on one level and is reported to have the largest hull of any casino boat in the nation.


Suezmax Rates Set To Soar

Surging Suezmax tanker rates are set to soar if Iraqi exports come back on stream next week, shipping brokers contend. Rates for the one million barrel tankers have lifted to around 100 Worldscale points on fixtures from West Africa and the North Sea to the U.S., and on cross Mediterranean and North Sea routes, brokers said.


Asian Panamax Rates Edge Higher

Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker


Anti-Fouling Legislation Coming From IMO

Next week at the IMO in London a Diplomatic Conference will be held to finalize the details of the Convention on the Control of Harmful Anti-fouling Systems. In particular the phasing out of tin based (TBT) anti-fouling systems will be finalized with a system put in place to assess future anti-fouling systems. INTERTANKO, together with the other main industry representatives ICS, Intercargo, SIGTTO, OCIMF and Bimco have submitted a paper to the Conference focusing on those issues which


Mississippi River Traffic Stalled

Mississippi River barge traffic near Burlington, Iowa, remained backed up on Thursday after lock 18 in Gulfport, Illinois, reopened Wednesday afternoon after a day-long shutdown, river officials said. Lock 18 was closed Tuesday morning when a breakaway barge caused two loaded barges to sink near the lock and left six other barges adrift at the dam. "We've got two barges still floating in the dam and two sunk, with the salvage unit on the way to clear it out


“Old Ship” Fears Drive Tanker Markets Higher

North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage


Valdez Port Sees Fewer Tankers After Prudhoe Problems

The Valdez crude export terminal has seen a modest decline in the number of crude tankers in recent weeks, as oil companies reduce shipments in light of the problems in Prudhoe Bay oil production, the Valdez terminal manager said Thursday. The Valdez terminal, the crude export facility at the end of the 800-mile Trans-Alaska Pipeline System, will receive four tankers this week and about the same number next week. That's a drop-off from last week's level and from typical traffic levels


U.S. Oil Prices March Forward

U.S. oil prices resumed their upward climb on Monday, egged on by word from OPEC that the cartel had a consensus to slash output output by next week, Reuters reported By early afternoon, crude oil for February delivery on the New York Mercantile Exchange was trading at $28.30 a barrel, a 35-cent rise, taking total gains in the last six trading sessions to $2.50 a barrel, or ten percent. A statement by OPEC Secretary-General Ali Rodriguez on Sunday spurred the day's advance.


Port of Galveston to Repair Public Pier

Galveston Wharves’ board of trustees today unanimously approved a project to repair pilings and pier deck in the Pier 19 area of the port. The board awarded the contract, with a not to exceed value of $190,000, to Taylor Marine Construction, Inc. to replace damaged pilings and deck


Asia Dry Bulk-Capesize Market 'Imploding'

Capesize rates fall to six-year lows; rates below ship operating costs, according to accountancy firm. Rates for capesize bulk carriers on key Asian routes, which crashed close to six-year lows on Wednesday, will continue their inexorable fall in the face of few fresh cargoes, brokers said.


BIMCO wants IMO to Cut Red Tape

  BIMCO has today announced its support for a report identifying ways to reduce red tape for shipping which will be presented to the International Maritime Organization (IMO) next week in London. The report comes from the Ad Hoc Steering Group for Reducing Administrative Requirements


MSC Magnifica Completes Drydocking at Damen Shiprepair

MSC Magnifica

  After a very fast and successful 17-day drydocking the cruise ship MSC Magnifica left Damen Shiprepair Rotterdam (part of Damen Shiprepair & Conversion) for Hamburg on schedule to start her next cruise. Next week (December 2) another cruise vessel will arrive at Damen Shiprepair


Russia Has No Plan to Cut Oil Output

Russian Energy Minister Alexander Novak

  Russia, the world's biggest energy exporter, does not plan to cut oil production to shore up prices, Rossiya 24 television quoted Energy Minister Alexander Novak as saying on Saturday. Russia, which relies on oil and gas exports for about half its federal budget


Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs) on key Asian routes are set to continue the rebound that started on Wednesday with a raft of new cargo requirements and upbeat sentiment


Dryships Achieves Refinance of 5% Convertible Notes

Photo by DryShips

  DryShips Inc. global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., off-shore contract drilling oil services, today announced the following:


Bagley Named VP at Newport News Shipbuilding

Ray Bagley (Photo by Chris Oxley/HII)

Ray Bagley has been appointed by Huntington Ingalls Industries (HII) as the company’s new vice president of trades operations for its Newport News Shipbuilding division. Bagley, who will earn the distinction of "Master Shipbuilder" for 40 years of continuous service next week


Ferry Unit SNCM to Seek Court Protection Next Week

Photo: SNCM

France-Corsica ferry operator SNCM will file for court protection next week, a source close to the company told Reuters on Wednesday, which will clear the way for its shareholder Veolia to restructure its transport division. Water and waste firm Veolia and the French state


Sea Dispute Sparks China Diplomat to Vietnam Visit

Secretary Kerry Shows Chinese State Councilor Yang Overview of Boston Hometown. [State Department photo/ Public Domain]

China's top diplomat to visit Vietnam again amid sea dispute   China's top diplomat will visit Vietnam next week, China said on Friday, five months after he last visited during a period of tension over a Chinese oil drilling rig working in part of the South China Sea both countries claim.


Historic Mexican Ship Visits Port of LA

Cuauhtémoc

ARM Cuauhtémoc, a Mexican Navy barque, also known as the Ambassador and Gentleman of the Seas, will sail into the Port of Los Angeles next week and offer free public tours throughout the week on the L.A. Waterfront. The historic vessel, with a crew of approximately 200 aboard


Maduro Says Venezuela's 2015 Budget to Put Oil at $60

President Nicolas Maduro

   Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover. Venezuela routinely underestimates oil prices when planning its budget to permit more


Shipowners and Managers to Gather in Singapore

Shipowners and managers will gather in Singapore next week to examine the strengths of their relationship and consider the state of the global shipping industry during the first International Shipowning and Shipmanagement Summit. Taking place at the Singapore headquarters of international


ICS: Oil Pollution Compensation Regime under Threat

Peter Hinchliffe (Photo: ICS)

The running of the global regime for compensation from oil pollution from ships may be under threat, due to a decision by governments to wind up the 1971 International Oil Pollution Compensation Fund (IOPCF), says the International Chamber of Shipping (ICS)


Dry Bulk Drought: Asia Rates Fall

(Photo - Vale do Rio Doce)

Rates for capesize bulk carriers on key Asian routes could continue to fall next week in the absence of major charterers although lower freight rates could tempt top iron ore miners back into the market and potentially buoy rates, brokers said.






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright