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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


Saltire Reports Global Growth, Turnover Increase

Strong global growth contributes to increase in turnover for Saltire Energy

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.


St. Lawrence Seaway Cargo Up 5% Over 2013

Compass Minerals transports rock salt using self-unloading vessels . Here a vessel is loaded at Compass Minerals’ Goderich, Ontario, mine. (Photo: Compass Minerals)

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


Hanøytangen Deal Reached – Again

Photo: Bergen Group

Agreement concluded for the sale of Hanøytangen; new ownership takes over as from today   Bergen Group has reached an agreement with Semco Maritime on sale of the rig service activity and with Hellik Teigen AS for sale of the real estate at Hanøytangen


Dolphin die-off Spurred by BP Oil Spill

Dolphins are seen swimming through the oil spilling from the Deepwater Horizon oil well at the height of the spill in 2010. (Credit:NOAA)

A record dolphin die-off in the northern Gulf of Mexico was caused by the largest oil spill in U.S. history, researchers said on Wednesday, citing a new study that found many of the dolphins died with rare lesions linked to petroleum exposure.  


Navios in Red, but Beats Estimates

Picture: Navios Maritime Holdings

 Navios Maritime Holdings, vertically integrated seaborne shipping and Logistics Company, slumped to a loss in the Q1 although the result beat by $0.10 per share the average estimate of analysts who had forecast red ink for the dry bulk company.  


Two ASC Kalmar Cranes for DP World Brisbane

Kalmar automatic stacking cranes at DP World Brisbane

  Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane.    The cranes will join a fleet of 14 Kalmar ASCs at Fisherman Islands Terminal


Imports Settling Down After Surge to Clear Backlog

File photo

Import cargo volume at the nation’s major retail container ports is returning to normal levels as officials prepare to count votes on ratification of a new West Coast labor agreement that ended months of uncertainty, according to the monthly Global Port Tracker report released today by the


Near Term Outlook Mixed for Shipping

Clarkson Office Locations

  Shipping services company Clarkson PLC warned that the outlook for the industry remains mixed in the short term and dry bulk and offshore in particular present challenges.   "The near term industry outlook remains mixed and the challenges in some of our markets continue


Suezmax Tanker Market Improves

Image:  Gibson Consultancy and Research

 Suezmax tanker owners are among the “happiest” ones when it comes to the performance of their vessels during 2014, as well as throughout this year as well says the latest weekly report from the London-based shipbroker Gibson.  


US Soy Stocks to Rise as Exports Slip

U.S. soybean supplies were expected to balloon 43 percent in the 2015/16 marketing year despite a drop in production due to increased competition on the export market, the U.S. government said on Tuesday.   In its first estimate of the supply situation for the 2015/16 marketing year, the U.S


Dubai to Showcases Maritime Strength at Nor-Shipping

His Excellency Sultan Ahmed bin Sulayem Chairman of Dubai Ports Customs and Free Zones Corporation Chairman of DMCA (Photo: DMCA)

Dubai Maritime City Authority (DMCA), the organization tasked with developing, monitoring and promoting maritime activity in the Emirate, announced its program for this year’s Nor-Shipping, held in Oslo and Lillestrøm, Norway.  


US Ports Begin 2015 ‘Fast and Furious’

Photo: The American Great Lakes Ports Association

Even with a blip due to ice coverage in late March and early April, U.S. ports along the Great Lakes-Seaway System are tracking ahead of tonnage moved in April 2014. In fact, most ports are seeing increases in multiple categories.   “In 2015 we are excited to continue the momentum


No Signs of Improvement in Container Rent Seen: Cosco Pacific

Photo: Cosco Pacific

Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level


Crude Oil Tanker Market Weakened, says OPEC

Graph provided by OPEC

 Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report.   On average, dirty tanker freight rates were down 8% from the month before


Spaniards Sparkle in Volvo Ocean Race

The Volvo Ocean Race fleet against a Newport bridge backdrop. Photo by Volvo Ocean Race

 Spanish boat MAPFRE led the Volvo Ocean Race fleet out of Newport, Rhode Island, and into the most challenging of the remaining three legs through the North Atlantic, reports AFP.   Newport was the only North American stopover on this year's race, which ends in June in Goteborg, Sweden


Pneumatic Band Saw Certified for Hazardous Environments

Image: CS Unitec

CS Unitec's Pneumatic Band Saw Model 5 6062 0010 Wide Mouth AirBand with planetary gearbox, is engineered to quickly and cleanly cut a wide variety of metals. It is suited for cutting pipe, conduit, bolts, cable, angle iron, I-beams and structural steel


Savannah Container Volumes Jump in April

(Photo: Georgia Ports Authority/Stephen B. Morton)

Port of Savannah container volumes jumped 25.8 percent in April, with a total volume of 335,337 twenty-foot equivalent container units, or an additional 69,000 units. The Georgia Ports Authority also saw strong growth in roll-on/roll-off traffic, moving 77,574 units through Brunswick and Savannah






 
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