Golar LNG Limited announces that the Company has entered into firm contracts with Samsung Heavy Industries Co. Ltd for a further two LNG carriers. The two additional vessels, each with a capacity of 160,000cbm have a combined total cost of slightly above $400 million. The first of the carriers is scheduled for delivery in the second quarter of 2014 and the second in early 2015. Subject to declaration deadlines, each contract also comes with an option for a further carrier for 2015 delivery. Attached to both options is the right to select an FSRU alternative and the vessel contracted for delivery in early 2015 also comes with the option for construction as an FSRU. As with Golar's existing new building orders, the vessels will be delivered with tri-fuel diesel electric engines and the lowest boil off rates in the industry making them extremely attractive prospects to charterers. Chairman John Fredriksen says in a comment: With a total of 13 newbuilings and a further 4 options Golar LNG has secured a strategic unequal position to meet our customers' demand in the fast growing LNG industry. The Board has already seen strong interest for short and long term charters and expects that a solid charter portfolio can be developed prior to the individual deliveries of the new buildings. The increased activities in the LNG market including possible US export also supports a strong spot market in the years to come
Georgia Ports Authority (GPA) moved 2.4 million tons of cargo in April, a 4.7 percent increase – or 108,532 tons – over the same month a year ago. This figure was boosted by a strong performance in containers, bulk and Roll-on/Roll-off cargo. “Our total tonnage makes April the highest volume month on record,” said GPA Executive Director Curtis Foltz. “And with companies like Haier appliances, Kent bicycles and Pep Boys recently choosing the Port of Savannah
Shipbrokers Simpson, Spence and Young's Atlantic Capesize Index rose 162 points in the week ending Monday to 5,700. "Capesize rates strengthened overall by the middle of last week with rates from Richards Bay for October particularly strong, with fronthaul activity also firmer," SS&Y said. SS&Y's Pacific Capesize Index fell 11 points in the week ending Monday to 5,475. "The Pacific market saw a marginal re-balancing of tonnage supply in the charterers favor on certain positions," SS&Y said.
The new role of Harald Lundestad as General Manager for Wilhelmsen Ships Service in Taiwan, will give impetus to the expansion of the company’s business in the region, which is capitalising on the 10% GDP growth enjoyed by Taiwan in 2010, and the current rapid expansion of Taipei and Kaohsiung ports. Based at the company’s Taipei office, Harald will play an instrumental role in the future development and growth of Wilhelmsen Ships Service in Taiwan
Marine Propulsion Systems, a business unit of ZF Friedrichshafen AG, shared at the sidelines of Marintec China 2013 that China continues to be a key focus for the company and shared plans to strengthen its footprint in the market. ZF Marine has been in China since 2006 and currently operates a sales and services office in Shanghai which serves as a competence center for all marine applications in China. With optimism slowly returning to the global offshore market
Wärtsilä says it has signed a turnkey contract to supply a liquefied natural gas (LNG) receiving terminal to be built in Tornio, northern Finland. The contract, valued at approximately EUR 100 million, has been made with Manga LNG Oy, a joint venture between the Finnish companies Outokumpu Group, Ruukki Metals Oy, Gasum Oy and EPV Energy Ltd. The contract is conditional on receipt of investment support and Manga LNG Oy's contracts with other parties, including the gas suppliers.
ITS Group, a leading supplier of oilfield products and services to the global oil and gas industry, has reported a noticeable profit improvement in its annual report for the year ended December 31, 2011, in line with improving market conditions. The company, which has its headquarters in Aberdeen, provides drilling equipment and services through a network of 29 facilities across 18 countries and has a strong international footprint.
In the first quarter of 2013, TORM realized a positive EBITDA of $36 million and a loss before tax of $16 million. “The seasonally strong first quarter in the product tanker segment was the best we have seen since the beginning of the financial crisis. TORM positioned itself well to take advantage of the market improvements, and we saw the positive effects of TORM’s restructured time charter fleet and the cost program
Saltire Energy, supplier of drilling tools to the offshore oil and gas industry, has posted its year end to June 30, 2013 results with turnover up more than 50% from £21.5 million to £32.9 million. Operating profit for the year has also risen from £14.1 million to £18.5 million. Mike Loggie, Chief Executive of Saltire Energy, said, “The last 12 months has seen steady growth in our business in the U.K. and across our international operations.
Total cargo shipments on the St. Lawrence Seaway have now surpassed 2013 levels by 5 percent due to strong North American import/export activity. According to the St. Lawrence Seaway, total cargo tonnage from March 25 to September 30 reached 24.4 million metric tons. Stephen Brooks, President of the Chamber of Marine Commerce, said, “September was another strong month for the St. Lawrence Seaway as marine shipping helped U.S
The Georgia Ports Authority marked strong and sustained growth across all major markets in the month of February, including bulk, breakbulk, autos and machinery, and containerized freight. "The additional cargo attracted to Georgia speaks to the reliability and ease of doing business
Leading marine and fire safety equipment and service provider, VIKING Life-Saving Equipment (VIKING) is stocking ready-packaged liferafts to provide fixed-price liferaft exchange to vessels calling Japanese ports. “The world of shipping is dominated by a small group of countries
Anders Opedal is appointed executive vice president and takes on a new position as chief operating officer (COO) in the corporate executive committee (CEC) of Statoil as of 1 April. Opedal will be responsible the corporate improvement programmes and for driving operational efficiency
Brent oil prices rose on Wednesday as the euro strengthened against the dollar following a boost in business morale in the euro zone's top two economies. The euro was up 0.6 percent against the dollar, the currency in which crude oil futures trade. The dollar lost 0
Traders are cutting plans to use tankers to store oil at sea as the price incentive recedes, the global head of oil at mining and commodities group Glencore's said on Tuesday. In January, the price of spot oil was around 50 percent lower than a peak hit in June
The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae told an energy conference on Wednesday. "We have still not seen the bottom of the day rate fall," he said
Tokyo eyes new South China Sea role? Tokyo is getting ready to flex its military muscles in the South China Sea to counter China's growing maritime dominance. As China’s presence in the area becomes harder to ignore
SC ports achieves second consecutive month of 18 percent volume growth; port education program builds understanding, awareness of maritime industry February marked the second consecutive month of 18 percent container growth at the SC Ports Authority
February cargo volumes at the Port of Los Angeles decreased 10.2 percent compared to the same period last year, due to terminal congestion and supply chain challenges during labor negotiations which reached a tentative agreement between the Pacific Maritime Association and the International
MSC Cruises announced that the first of its next generation Seaside class of ships, set to debut in November 2017, will be named MSC Seaside and sail year-round from Miami to the Caribbean. Following the first ship's delivery from the shipyard
From pollution to solution; Bellona Foundation and Damen to cooperate on low-emission designs A three-year partnership has been launched between Oslo-based NGO Bellona Foundation and Dutch company Damen Shipyards Group with the main goal of exploring and developing concept vessels for the
The Georgia Ports Authority welcomed the largest ship ever to call on the Port of Savannah today when the ZIM Tianjin docked at Garden City Terminal. "This 10,000-TEU vessel represents the future of U.S.-Asia shipping," said Georgia Ports Authority Executive Director Curtis J
Damen Anchor & Chain Factory (AKF), in the Port of Rotterdam, informs it has completed its first online order transaction. Much of the Damen product range has had an online enquiry option for some time, though AKF is relatively new to the concept
Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the twelve months ended 31 December 2014. Like-for-like1 revenue grew 11.3% and adjusted EBITDA increased 16
Somali pirates, after being neutralized by various countries’ navies, are shifting their locations towards India, but the country is watchful to deal with such threats, says Indian Defence minister Manohar Parrikar. Because their (shipping) lanes are heavily guarded