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Entomology for the millennium: Options for the bugs

Every company in the marine and offshore industries has at some stage been involved in a millennium bug compliance study. It is now time to admit that industry is bored with the subject. Since the problem was first mooted, its possible outcome has remained a mystery, which is the only definite aspect of the millennium bug problem. No one actually knows what will happen. One thing is certain, though, in the modern marine and offshore industry, information has become the most important business tool. How companies handle and store it for use depends on their internal structure, but it is safe to say that it will be on a computer at some stage. Lose the information, and the company will lose money rapidly while trying to recoup that information and operate effectively at the same time. So information-sensitive companies such as shipbrokers, agents, offshore oil companies, and ship operators, have been forced to take measures to ensure compliance. Until recently, there was only one course of action open to them, weed out the problems now by replacing equipment, at huge cost, that does not meet millennium bug requirements. There are now two courses of action possible. Companies can now rent the software. Renting software is a service that has never been offered to the shipping industry before, but small and medium-sized companies have welcomed the idea


Asia-Bound VLCCs to Use Venezuela's St Eustatius Terminal

VLCC file photo

Venezuela's state-run PDVSA will use a terminal owned by U.S. firm NuStar Energy on the island of Saint Eustatius to store crude and load very large crude carriers (VLCCs) going to Asia, after deciding it will no longer rent a facility in the Bahamas, according to a PDVSA executive. PDVSA has been using the Saint Eustatius terminal in the Caribbean since March as a center to store and mix its crudes and produce exportable blends


IHC Merwede Rents Out First IHC Beaver Dredger

IHS Beaver 40

IHC Merwede has entered the international rental market with its standard IHC Beaver dredgers and DMC work boats. The company has identified a demand in the market for vessels and equipment that may only be used for a relatively short period of time. In August, the first dredger – an IHC Beaver® 40 – was rented out to a contractor in Europe. The dredger was easily loaded on to trucks and transported to the dredging site


Iron-Ore Ship Rents Fall

According to a report from Bloomberg, rents for capesize ships that haul iron ore fell the most in a month on excess vessel supplies. Hire rates fell 5.4% to $6,359 on May 10, data from the Baltic Exchange in London show. That’s the biggest decline since April 8 and leaves rates 86 percent lower than a year ago.    (Source: Bloomberg)


New CEO Showcases Marseilles Fos Initiatives

Christine Cabau Woehrel

Christine Cabau Woehrel has taken up her new role as CEO of the Marseilles Fos port authority after two years heading the Port of Dunkirk. She succeeds Jean-Claude Terrier following a French transport ministry nomination that was backed by the port’s supervisory board in February and has now been confirmed by government decree. Her move marks a return to the headquarters city of CMA GGM, France’s biggest and the world’s third largest container carrier


Transocean Swings to Loss on Falling Revenue

Transocean Ltd., one of the world's top offshore drilling companies, reported a first-quarter loss on Wednesday as oil exploration and production companies rent out fewer of its rigs because of tumbling crude prices.   The net loss was $483 million, or $1.33 per diluted share, down from a profit of $456 million, or $1.25 a diluted share in the same period a year ago, before oil prices plunged 50 percent.  


Iran Seeks $2.5B to Modernize its Oil Tankers

(Photo: Greg Trauthwein)

Iran is seeking $2.5 billion investment to modernise its oil tankers fleet following the lifting of sanctions against Tehran, managing director of National Iranian Tanker Company (NITC) was quoted as saying by state news agency IRNA on Saturday. Iran emerged from years of economic isolation after crippling sanctions were lifted in January in return for Tehran complying with steps to curb its nuclear ambitions. Reuters reported last month that two Chinese firms were pushing for


Get Ready for Changes in Lease Reporting

By Richard J. Paine, Sr.

From the December 2010 edition of MarineNews Since the middle of 2006, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working towards changing how companies report their lease transactions on their balance sheets. Those companies (including publicly traded entities) whose reporting complies with Generally Accepted Accounting Principals (GAAP) must observe the reporting regulations as set down by FASB


Container Census Predicts Limited Box Availability

After the critical shortages of containers of last year, production has picked up again, but high container prices and a tight ratio of containers to vessel slots will continue to constrain the availability of boxes, according to the Container Census – Annual Survey and Forecast of Global Container Units, a new report from Drewry Maritime Research. At the end of 2010, the global fleet of containers exceeded $90 billion in replacement value for the first time, according to the report


North America Dominates Global Container Shipping Market

Pic by China Shipping Container Lines

 In terms of geography, North America dominates the global container shipping market . This is due to improved transportation services in this region, says a report from Persistence Market Research.   The U.S. represents the largest market for container shipping followed by Canada in North America. In Europe, Germany, the U.K., Spain, Italy, and France hold the major share of the container shipping market.   


USCG Type Approved Technology For BWC Seaforth Mobile BWMS

BWC Seaforth USCG.jpg

Ballast Water Containers has announced its patent pending BWC SEAFORTH and BWC BUTE mobile ballast water management systems, are now available with full US Coast Guard type approved technologies including industry leading components from manufacturers Optimarin & Wartsila.


JLT Mobile Computers Selected by DCT Gdansk

Photo JLT Mobile Computers

JLT Mobile Computers has delivered 47 of its JLT VERSO+ 10 rugged mobile vehicle computers with the most compact form factor in its class to the new T2 deep-water terminal at DCT Gdansk in Poland. Located in the heart of the Baltic, DCT Gdansk is Poland’s largest container facility


New Orleans Receives $1.75 Mln for Port Upgrade

Paul Chip Jaenichen visits with Gary LaGrange at the Port of Greater Baton Rouge to officially award a MARAD grant of $1.75 million for Container on Barge service. The visit and award ceremony was held at the SEACOR AMH office Tuesday, Dec. 6, 2016 at the Ports Inland Rivers Marine Terminal in Port Allen, La. Port of New Orleans (Photo: Port of New Orleans)

U.S. Department of Transportation’s Maritime Administrator Paul “Chip” Jaenichen visited the Port of Greater Baton Rouge’s container-on-barge operation Tuesday while delivering his personal congratulations on the recent awarding of a $1


Hapag-Lloyd Names First of Five 10,500 TEU Box Ships

Valparaíso Express (Photo: Hapag-Lloyd)

Hapag-Lloyd held a naming ceremony for the first of its five new vessels in its new 10,500 TEU class containerships, Valparaíso Express.   Valparaíso Express was named by Rozío Gonzaléz – wife of Andrónico Luksic


Consolidated Container Fleets Worth $33.4 Billion

Photo: Hamburg Süd

Following the sale of Hamburg Süd to Maerskfor $4 billion, VesslesValue senior analyst William Bennett has compiled a report on the top consolidated container fleets. Currently these top five fleets are worth $33.4 billion and account for 33 percent of the entire container fleet.  


Four Post Panamax Cranes Arrive in Savannah

Boskalis vessel Teal transports four new ship-to-shore cranes up the Savannah River past historic River Street to Garden City Terminal at the Port of Savannah. Photo Georgia Ports Authority Stephen B. Morton

Four new Super Post Panamax ship-to-shore cranes arrived at Garden City Terminal yesterday, bringing the Port of Savannah's total to 26, more than any other terminal in the U.S.   "For customers, it means the capacity to move up to a thousand containers per hour across a single dock at


Siemens’ Turbine Transport Ship Commissioned

Photo: Concordia Group

The heavy cargo roll on/roll off' coaster vessel recently delivered and commissioned by Concordia Group is not the typical RO/RO.   Once a containership, the 141-meter-long and 20-meter-wide Rotra Vente was converted into a specifically designed ship to be used under charter by Siemens


Kalmar's First Order for Empty Container Handlers

Empty Container Handler Photo Kalmar

Kalmar received an order from the Port of Vienna's WienCont Container Terminal for three new twin lift capability empty container handlers. Delivery and start-up is set for April 2017.   The contract marks the first order of equipment from Kalmar's DCG80-100 empty container handler range


Taiwan Shipping in Troubled Water?

Pic: EverGreen

 Taiwan's shipping lines aren't looking quite so young and fresh as they were earlier, reports Bloomberg.   While the global container industry has embarked on a spree of pairings and menages-a-trois over the past 12 months, Taiwan's shipping lines have remained proudly single.


Grangemouth Port sees Record Volume

Derek Knox, Port Manager for Grangemouth in the port’s busy reefer container compound. Photo Port of Grangemouth

The Port of Grangemouth, Scotland’s largest container facility has enjoyed one of its busiest seasons, with over 50,000 TEUs (Twenty Foot Equivalent Units) being handled at the port in the last two months. This four-year high is the result of a buoyant fresh food export season utilising the


Oetker Sells Hamburg Süd to Maersk

Photo: Hamburg Süd

 Dr. August Oetker KG announces that, after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets.   The world's seventh-biggest container operator, Hamburg Süd


Maersk Line to acquire Hamburg Süd

Dr. Ottmar Guest Photo Hamburg Süd Group

Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals.  Hamburg Süd is the world's seventh largest container shipping line and a


Hamburg Süd up for Sale

The Santa Teresa, the Santa Rita and the Santa Barbara in the port of Santos. Photo Oetker KG PR

Dr. August Oetker KG announced that after more than 80 years, it is divesting its shipping business and will be selling Hamburg Süd with all activities, subsidiaries and principal assets. Following intensive talks with several interested parties


NYK Procures 4,700 Refrigerated Containers

photo by NYK

NYK has placed an order for 4,700 additional brand-new 40-foot refrigerated (reefer) containers, and the delivery of the new containers commenced in November. NYK procured 5,500 of the same type of containers last year, and the average age of company’s fleet of over 40


ICTSI Opens Georgia-Ukraine Feeder Service

Photo:  ICTSI

 Mediterranean Shipping Company (MSC) made its first port call in Batumi International Container Terminal (BICT) in Batumi, Georgia, marking the launch of Gioia-Ukraine & Georgia feeder service, says International Container Terminal Services, Inc.(ICTSI).  






 
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