The IMO posted on its Internet site the Report of the Joint Working Group on Ship Scrapping . Representatives from the International Labor Organization (ILO), the IMO, and the Basel Convention (BC) met in Geneva on 12-14 December to continue discussions on development of a regime to address international ship scrapping. The goal is to draft a legally binding instrument on safe and environmentally sound ship recycling. Source: HK Law
Bulk shipping has been under the international microscope of late, with spectacular structural failures resulting in sudden loss of lives and ships, vexing designers, builders and owners alike as to the solution to structural and operational problems. Last week industry experts discussed another matter near and dear to bulk shipper's hearts, the future profitability of the depressed bulk shipping business. The overriding message: bulk shipping profitability is inextricably linked to safety
With intense international attention focused on older ships, many interested parties are waiting to see if the resultant pressure to utilize new tonnage will result in a scrapping/build boom. If last week is an indication, the move to purge older ships could already be underway. Three VLCC tankers have been reported sold to be scrapped this week, shipping brokers said. The sales would take VLCC demolitions to eight so far this year
Global tanker freight rates may be depressed for several more years as a stream of new vessels hit the market and shipowners refrain from scrapping older ships. However, a recovery is likely toward the end of the decade as more single-hulled tankers are taken off the market to meet regulations for safer ships. Tanker rates jumped to record highs in 2004 as a surge in oil trading and demand strained available fleet supply
Hamburg/Shanghai, 3 May 2011 - Germanischer Lloyd (GL) has recently intensified its efforts to help shipyards, ship owners, suppliers and recycling facilities in Asia to comply with the forthcoming International Convention for the Safe and Environmentally Sound Recycling of Ships ("Hong Kong Convention"). Two well-trained GL ship recycling experts are now stationed in China and Singapore respectively, offering all stakeholders a full range of services including certification
MOL slates total of 10-20 'Capesize' bulk carriers for scrapping and cold lay-up Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced plans for scrapping or cold lay-up of 10 to 20 Capesize bulkers in consideration of this fiscal year's worsening market trends. The company scrapped four vessels and temporarily laid up 10 others last year. Up to now, the company has scrapped Capesize ships that were past 23 years or older, but will now scrap ships that are 15 or older
Bangladesh reportedly proposed to double tax on scrap ships in second half of fiscal year 2000.
Norwegian shipping group Bergesen d.y. ASA predicts that tanker markets would stay strong due to good demand for oil, but that the number of vessels sold for scrap would fall in 2000. The company, one of the world's top shipping groups, reported a fall in pre-tax earnings to $10.2 million from $19.8 million in the first quarter of 1999. "The tanker market is expected to stay strong in future due to the lifting of OPEC's production restraints as well as good growth in oil consumption
Representative English (R-PA) introduced a bill (H.R. 4397) to temporarily exempt scrapping of naval vessels and Maritime Administration vessels from certain environmental statutes governing handling of hazardous materials. Text of the bill is not yet available. Source: HK Law
Inland Salvage Inc. Completes Lightering and Salvage Operations of Sunken Hopper Barge. Inland Salvage Inc.recently completed the removal of approximately 1000 tons of structural scrap steel from a sunken hopper barge and subsequent salvage of the barge which had been obstructing a loading dock on the Mississippi River near LaPlace, LA. Immediately upon being notified by the dock's owner that Inland Salvage Inc. (ISI) had been appointed as the salvor
Global newswires are flooded with reports that an abandoned cruise vessel, Russian-registered Lyubov Orlova, dubbed the “rat-infested ghost ship,” is nearing the western shores of Europe after being set adrift early last year.
Krishnapatnam Port Container Terminal (KPCT) has sailed in to a new frontier with the addition of Bengal Tiger Line’s (BTL) new Colombo feeder service (BOX-2) from KPCT. This new fixed day weekly service has a port rotation of Colombo - KPCT - Chennai and had its maiden call on
By Susanna Twidale, Reuters U.K. energy regulator Ofgem on Wednesday launched a £400 million tender for linking offshore wind farms in the North Sea to Britain's national power grid. Ofgem is calling for firms to construct high-voltage transmission links to connect the Westermost Rough
Reuters- Dry bulk carrier Golden Ocean Group Ltd expects double-digit growth in global iron ore trade in 2014, helping its markets pick up momentum and improving rates, the company's CEO Herman Billung said at a conference in Oslo on Wednesday.
According to Greenpeace, Shell's CFO Simon Henry said that the company is putting the building blocks in place to drill in Alaskan Arctic as early as next year. Reacting to the news, the head of Greenpeace International’s Arctic oil campaign Ben Ayliffe said:
The Coast Guard and state and local authorities began working to ensure the safe transport of two troubled vessels being towed to a Brownsville scrap yard after one began listing into the other Thursday. At approximately 8 a.m. Thursday, the captain of the tug with the vessels in tow called Coast
Harbor Star Shipping Services Inc. has loaned one of its barges to the Philippine Coast Guard (PCG) to help transport relief goods and emergency tools to Tacloban City in Leyte and other sites massively ravaged by the super-typhoon, reports the nations's 'BusinessMirror'.
All-electric tube bending machines from Unison are helping FMC Technologies - the leading supplier of subsea tree hydraulic control systems for wellheads - to substantially reduce build times and multiply its manufacturing capacity. Six sites worldwide now use Unison tube bending machines in a
The 'Donald Duckling' was detained by the UK's Maritime & Coastguard Agency (MCA) this week after an inspection revealed a long list of safety concerns, and will not be allowed to leave the Port of Tyne until mechanical and safety issues are resolved, reports the 'Shields Gazette'.
Developer RWE Innogy is pulling the plug on the 240-turbine Atlantic Array project, report BBC News citing a Department of Energy and Climate Change (DECC) source. The 222m (721ft) tall turbines, planned to be situated in an area 200 sq km, (77 sq miles) about 16
EMA/IMA has just completed an in-depth analysis of the floating production sector. Highlighted below are some key findings in Floating Production Systems: assessment of the outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs. Inventory of floating production systems now at 277 units
In a bid to assist all sectors, China is to increase cash subsidies for scrapping obsolete ships by 50 percent to help cut over-capacity and emissions, reports Bloomberg. The government will grant 1,500 yuan ($247) per gross ton for shipping companies to replace obsolete ships
According to provisional figures, goods throughput in the port of Rotterdam will end this year at the same level as in 2012: 442 million tonnes. The port explains that the top performance came from dry bulk such as coal, iron ore and agribulk
Coming off of a strong second quarter for cargo tonnage, the Port of Redwood City's tonnage for all commodities in the first half of fiscal year 2013/2014 reached 829,681 metric tons, an increase of 24 percent over the same period last year.
International accountant and shipping adviser Moore Stephens believes that the shipping industry’s fortunes should be noticeably improved by 2015 if it maintains the recovery which got under way last year. But it warns that the prospects for recovery may still be fragile if the industry