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Next Week

Last Call to Register for SHIPPINGInsight

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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  


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.


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.


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


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


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


“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


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


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.


Asia Dry Bulk-Capesize Rates Steady

Brazil-China capesize rates hit seven-month high; Pacific capesize market dragged by buoyant tonnage supply. Freight rates for capesize bulk carriers are likely to hold steady next week although a rush of cargo in the Atlantic would again provide the trigger for rates to move higher


China: U.S. "Militarizing" South China Sea

China's Defence Ministry on Thursday accused the United States of "militarising" the South China Sea by staging patrols and joint military drills there, ramping up the rhetoric ahead of a key regional security meeting in Malaysia next week.


Asia Dry Bulk-Capesize Rates Could Soften

Capesize market "overheated" as rates near eight-month highs; optimism for a busier fourth quarter looms. Freight rates for capesize bulk carriers are likely to take a breather and drift lower after climbing to their highest level in nearly eight months this week following bad weather


South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of the ASEAN grouping told Reuters on Friday. China claims most of the potentially energy-rich sea


Asia Tankers-VLCC Rates Softening

Owners waiting for charterers to release July cargoes next week.   Rates for very large crude carriers (VLCCs) on key Asian routes are set to soften early next week before rebounding on the first wave of supertanker charters from the Middle East to Asia in July's fixture


Hearing to Address USCG Drug Interdiction Efforts

Crew members aboard the Coast Guard Cutter Vigilant stack seized cocaine at Coast Guard Base Miami Beach, Florida, June 12. On May 22, the crew of the Vigilant and the Coast Guard Cutter Bear interdicted the cocaine worth an estimated wholesale value of $10.9 million. (USCG photo by Mark Barney)

Hearing will examine U.S. Coast Guard’s efforts to stop drug smuggling into the U.S.   The Subcommittee on Coast Guard and Maritime Transportation, chaired by U.S. Rep. Duncan Hunter (R-Calif.), will hold a hearing next week on the U.S


World Record Attempt: Suhay Tries to Break Distance by Dinghy Mark

Photo courtesy of McMurdo

In 2014, Robert Suhay tackled the “longest single-handed distance sailed in a dinghy by a male – 283.5 nautical miles (326.24 miles)” into the face of Hurricane Arthur for a Guinness World Record. Next week, Suhay will attempt to break his own record in a 14-foot Laser dinghy


Australian Bio-Robots to Explore in the Indian Ocean

Nick Hardman-Mountford from CSIRO checks a BioArgo’s satellite communication link. Photo Credit: CSIRO

 CSIRO will be releasing a fleet of floating bio-robots between Christmas Island and Madagascar next week to measure biological indicators in the Indian Ocean including dissolved oxygen, nitrate, organic matter and particles.   A bio-robot is a robot which can measure properties


Scottish Ferry Workers on Strike

Photo: CalMac Ferries Limited

 Rail, Maritime and Transport (RMT) union members at the ferry operator CalMac go on strike over the future of services of Scotland’s west coast as two thirds of CalMac routes have been suspended.   CalMac will operate a third of its Clyde and Hebrides ferry services


Barge Captain Gets Prison Time for Fatal Explosion

An Illinois man who was captain of a petroleum barge that exploded in a Chicago canal in 2005, killing a crew member, was sentenced to six months in prison on Friday, prosecutors said.   Dennis Egan, 36, of Topeka in central Illinois, and the barge owner, Egan Marine Corp


Mombasa Port Workers End Strike

MSC Aurelie alongside berth No.16 in Mombasa. Photo: Kenya Ports Authority

 Mombasa, Kenya port workers end strike and returned to work on Friday after being warned they could lose their jobs, reports Reuters.   However the members of the Trade Union Congress (TUC-K) said protests over changes to their health care costs could resume next week and aims to push


Pemex Boosts Gasoline Imports in Wake of Shortages

Mexican state-owned oil company Pemex is ramping up gasoline imports and boosting domestic production at two major refineries after fuel shortages led to long lines at gas stations in several states this week.   Pemex announced an "extraordinary" gasoline import surge of 75


Brazilian Corn Cargos Bound for Southeastern US

Cargill Inc next week is likely to load 50,000 tonnes of Brazilian corn bound for the United States, shipping data showed on Wednesday, in what is expected to be the first of several bulk vessels of South American grain that will be imported here this year.  


Second Major California Beach to Reopen after May Oil Spill

  The second of two major California beaches that were closed after a ruptured pipeline spewed some 2,400 barrels of crude oil will be reopened next week, state parks officials said on Friday. Refugio State Beach, about 20 miles (32 km) west of Santa Barbara


American Cruise Lines Names New Riverboat

American Cruise Lines announced the name of its new Mississippi paddlewheeler – America – currently under construction at Chesapeake Shipbuilding in Salisbury, Md.   The America is American built, flagged and crewed, which is symbolic of the true all-American experience






 
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