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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


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.


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


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


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


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


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


Vessel Discharge Amendment Push Continues

Craig Montesano (Photo: AWO

AWO voices strong opposition to McCain anti-Jones Act amendment   The American Waterways Operators (AWO) is continuing an intensive lobbying campaign to bring the Vessel Incidental Discharge Act (VIDA) to a vote in the Senate and working with the American Maritime Partnership to strenuously


Long Beach Sees Robust Container Growth

Pic. by Port of Long Beach

The Port of Long Beach kicked off 2016 by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year. Port of Long Beach terminals moved 536,188 TEUs (twenty-foot equivalent units


Six New VLCCs Marks the Start of a Busy Delivery Year

Image: ConocoPhillips

 2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO.    The six new VLCCs were delivered in a strong winter market


2016 a Busy Year for VLCC Deliveries - BIMCO

File photo: DHT

When it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, 2016 is off to a flying start. Six new VLCCs were delivered in a strong winter market. Having reduced slightly, since the turn of the year


World's Richest Travellers Prefer Panama

Photo: Virtuoso

 According to AFP Relaxnews, Panama saw the most growth in interest among the world’s richest jetsetters for travel this winter and spring.   Panama saw the most significant growth in bookings —107 per cent — compared to the previous year for the travel period between


Diana Shipping to Acquire Three Panamax Ships

Diana Shipping Inc. has signed, through three separate wholly-owned subsidiaries, three Memoranda of Agreement to acquire from a related party three Panamax vessels for an aggregate purchase price of $39.8 million. These vessels are the m/v Sunshine, a 2010 built Panamax dry bulk vessel of 75


Cautious Optimism in LPG Shipping: Dorian LPG

Photo: Dorian LPG

 Global liquefied petroleum gas (LPG) export volumes for the calendar 2015 reached 80 million metric tons, an 11 percent increase over the previous year.    U.S. LPG exports alone reached a record of nearly 21 million metric tons


Ro-Ro Volumes at Ports of Stockholm Thrive

Courtesy Ports of Stockholm

High volumes of RoRo freight in December generated the strongest end of year monthly figures at Ports of Stockholm since 2011. Freight volumes in the RoRo segment, goods transported by haulage vehicles on ferries, were higher than the December totals for the previous three years


BIMCO: Container Shipping Faces Low Supply Growth

CSCL Globe on sea trials. (Photo: Hyundai Heavy Industries)

While the containershipping market continues to welcome a fleet of modern, mammoth efficient ships to the fold, it will struggle in 2016 with low supply growth that will test its mettle, according to a recent analysis from BIMCO. Overall, container volumes being moved around the world have grown


BIMCO: Tanker Market Stays Strong, Demand is High

The KOTC operated VLCC Al Kout. (Photo: DSME)

According to a recent BIMCO Shipping Market Analysis, the global tanker market remains a bright spot in the global shipping market, with demand staying high. Below is a synopsis of the report's latest findings.   More than anything else


Tourist Boat Sinks off Nicaraguan Island Killing 13 Costa Ricans

Admiral Marvin Elias Rodriguez Corrales  Courtesy Nicaragua Navy

Thirteen people died on Saturday after a small tourist boat sank amid strong winds off a remote island in the Caribbean sea, Nicaraguan government spokeswoman Rosario Murillo said. The victims, all from Costa Rica, died when the "Caribbean Queen" sank near Little Corn Island


Southeast Asia Dominates Maritime Crime Globally

Image: Dryad Maritime

 Southeast Asia continues to dominate maritime crime incidents globally, with 236 reports of piracy and maritime crime instances occurring in the region since 1st January 2015, an increase of 10% compared to 2014, according to Dryad Maritime.  


Vattenfall: Subsidy-free Offshore Wind by 2025

Sweden's Vattenfall expects to be able to build offshore wind power projects, one of the most expensive sources of renewable energy, without subsidies by the middle of the next decade, a senior company official said on Thursday. The state-owned utility plans to boost its wind power portfolio in


World Fishing Fleet: Vietnam Grows the Fleet

Owner Capt. Trinh Van Hung is justifiably proud of his new boat. (Haig-Brown photos courtesy of Cummins Marine)

In keeping with their reputation as a nation that can overcome all obstacles, Vietnam is rebuilding its aging fishing fleet. With a government program of soft loans, designated Decree 67/ND-CP, fishermen are building boats along 28 coastal provinces from the north to the south of Vietnam.


St. Lawrence Seaway Wraps Up Navigation Season

Photo courtesy of St. Lawrence Seaway

With water temperatures well above the 10-year average, the St. Lawrence Seaway closed its 2015 navigation season ice free on December 31. Thirty-six million metric tons of cargo transited the waterway during the season, with grain, at volumes well above the five-year average, leading the way






 
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