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Sees Strong

Samsung Heavy Industries Building Two Golar LNG Carriers

LNG Carrier: Credit Wikipedia CCL Wmeinhart

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 Port Reports Highest Tonnage on Record

Photo: Georgia Ports Authority

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


North East Asia Geared for Growth

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


ZF Explores Chinese Offshore Market

ZF Marine Retractable Thruster

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 to Provide Turnkey LNG Receiving Terminal in N. Finland

Schematic of Manga LNG terminal courtesy of Wärtsilä

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.


BMT Reports Strong Performance for 2014

Image: BMT

BMT Group Ltd. announced a strong performance for the year to September 30, 2014, a period which saw BMT secure revenues of £165.1 million with underlying operating profits of £10 million, a proportion of which has been distributed to the staff through the company’s profit share schemes.    Comprising 24 operating companies, involved in activity across 10 markets in 35 countries, the BMT group said it continues to concentrate on its core maritime-focused offering


SS&Y Atlantic Index Up, Pacific Index Down

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.


Torm Release 2013 1Q Report

Photo: Torm

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


Ruscon Increases Business in Russian Market

Vladimir Bychkov (Photo: GCS)

Intermodal operator Ruscon reported it has increased its market share in Russia, maintaining a strong position in a country which has seen imports fall by 20 percent in the last 12 months. In the first quarter of 2015, Ruscon handled 32,250 laden containers compared to 28,497 in the same period last year.    Vladimir Bychkov, CEO of GCS, Ruscon’s parent company, said that handling a higher than average volume of import goods also benefits its ability to handle export business


Dublin Port Gets Approval for ABR Project

Photo Dublin Port

  Dublin Port Company today welcomed the decision by An Bord Pleanála to grant permission for the Alexandra Basin Redevelopment (ABR) Project which will transform Dublin Port’s infrastructure and enable it to service the economy for decades ahead.  The project will increase the port’s ability to handle large ships by deepening and lengthening three kilometres of the port’s seven kilometres of berths


World Marine Earns SCA Safety Awards

World Marine, LLC has received the Shipbuilders Council of America’s (SCA) annual “Excellence in Safety” award as well as the “Improvement in Safety” award. SCA, the national association representing the U.S. shipyard industry


ABS Reflects on Strong 2015 Performance

Christopher Wiernicki (Photo: ABS)

153rd meeting of the classification society highlights class-centric strategy and vision for the future of class   ABS held its Annual Meeting on April 26, 2016 in New York, where Chairman, President & CEO Christopher J. Wiernicki reported that “2015 was a year of moving forward


Dangers Arising from Carriage of Indonesian Coal

The London P&I Club has issued a warning about continued problems associated with the carriage of Indonesian thermal or ‘steam’ coal, following a number of recent incidents involving owners and charterers.   Indonesian coal has a propensity to self-heat and/or emit methane


BIMCO: Dry Bulk Recovery Will be a Multi-Year Effort

Photo:  Cosco Corporation

 In an exclusive interview with “Akti Miaouli” newspaper, BIMCO Chief Shipping Analyst, Peter Sand, provides insight into the markets for dry bulkers, tankers and containerships in 2016 and what to expect going forward.  


US Imports Rise Steady after 2015 Rollercoaster

File photo: Northwest Seaport Alliance

Import cargo volume at the United States’ major retail container ports has begun its annual climb toward summer levels but is expected to be largely flat when compared with last year’s record high numbers, according to the monthly Global Port Tracker report released today by the


Mixed Prospects for Container Shipping

Photo: Cosco

 The latest Container Shipping Forecaster from Maritime Strategies International (MSI) makes a more optimistic forecast on the demand side.    Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner


India Can Become Engine of Maritime Growth: PM

PM Narendra Modi inaugurating the Korean exhibition at Maritime India Summit 2016. Photo: Ministry of Information and Broadcasting, Government of India.

 Prime Minister Narendra Modi has inaugurated the India's first ever Maritime Summit and said that the country's vast coast line of 7500 km offers vast investment opportunities.    “Our maritime agenda will complement this ambitious infrastructure plan for the hinterland


Stars Still Shining for Seaborne Trade?

Graph: Clarksons Research

 As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, focus on the potential for other countries to help provide impetus to global seaborne trade growth has increased, says Clarksons Research report


UASC, Qatargas and Shell Join to Push LNG as Marine Fuel

Qatargas CEO Khalid bin Khalifa Al Thani (fifth left), United Arab Shipping Company CEO Jorn Hinge (fourth left), and Managing Director and Chairman of Qatar Shell Companies, Michiel Kool (sixth left) along with other officials after the signing ceremony. Photo: Qatargas

 Qatargas, United Arab Shipping Company (UASC) and Shell signed a Memorandum of Understanding (MoU) to explore the development of LNG as a marine fuel in the Middle East region.    This is the second such agreement signed by Qatargas and Shell in as many months and establishes


Capesize ‘Uptick’ Not Strong Enough for an Upsurge

A rise in iron ore trade, higher steel prices and increased scrapping have all contributed to recent improvements but the outlook is fragile April 19, 2016. The latest Dry Bulk Freight Forecaster from Maritime Strategies International* analyses the recent uptick in the Capesize market and


Anticipating Market Change Crucial for Industry - Braemar

(l to r) James aBeckett, Head of Dry Cargo Broking Braemar ACM; Denis Petropoulos, President Braemar Group Asia; and Peter Ryan, Head of Consultancy Braemar Incorporating the Salvage Association. Photo Braemar Group

Being in a position to accurately anticipate change in the shipping markets is becoming ever more crucial for maritime service providers, as owning principals demand more solutions to the problems created by over-ordering, according to Braemar Group Asia President Denis Petropoulos.


Rotterdam’s Q1 Port Throughput Matches 2015

Photo: Port of Rotterdam

The Port of Rotterdam handled roughly the same volume of cargo in the first quarter of 2016 as in the same period last year, as an increase in the volume of, mainly, crude oil and oil products put through the port was offset by a more or less equivalent decrease in the volume of dry bulk and


Asia Dry Bulk-Capesize Market Direction Uncertain

A so-called ValeMax bulk carrier. These vessels were built primarily to carry iron ore from Brazil to the far east. (image: Vale)

Owners resisting charterers' attempts to push market lower; rates slip from 5-1/2-month highs. Freight rates for large capesize dry cargo ships on key Asian routes face an uncertain outlook next week with some owners resisting charterers' attempts to push hire rates down even as freight rates


60th Birthday for Container Shipping

Chart: Clarkson Research

 From its origins in the first seaborne transportation of containers on board Malcolm McLean’s Ideal-X on 26 April 1956, containerized shipment has become the glue that holds together today’s globalised economy, points out Clarksons Research.  


Canada Non-resource Exports to Surge in 2016

Canadian non-resource exports should post healthy gains this year, the country's trade financing agency said on Monday, a development the central bank is counting on to help revive an economy hobbled by weak global energy prices.   Export Development Canada predicted the consumer goods






 
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