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First Electronic Container Freight Swap Settled in USD

Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD.   Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world's first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house as the seller. ICAP Shipping was the broker of the trade. The container freight swap agreement was executed on ICAP's Webtrader platform, with manual input from ICAP Shipping brokers and cleared by LCH.Clearnet.   The trade was executed by rugby star Lawrence Dallaglio during ICAP's 19th annual Charity Day. On ICAP Charity, all ICAP revenues are donated to a selection of 200 charities and celebrity patrons are invited to help close deals. Mr. Dallaglio attended ICAP Charity Day in support of Cancer Research and Great Ormond Street Hospital. Container freight swap agreements lock in the freight exposure for standard containers transported from Asia to Europe, Mediterranean countries and the United States. Cash flow for this sort of freight exposure has been unpredictable for retailers, importers and logistic companies in the past and the concept of pricing container freight against indices and using swap agreements to manage the risk has attracted many industry participants over


This Day in Naval History – May 13

1908 - Navy Nurse Corps established. 1908 - Pearl Harbor Navy Yard, later called Pearl Harbor Naval Shipyard, was officially established in the Territory of Hawaii as a coaling station for U.S. Navy ships transiting the Pacific Ocean. 1943 - Bureau of Navigation renamed Bureau of Naval Personnel 1945 - Aircraft from fast carrier task force begin 2-day attack on Kyushu airfields, Japan 1964 - Organization and deployment of world's first all nuclear-powered task group, USS Enterprise


This Day in Naval History - May 13

1908 - Navy Nurse Corps established. 1943 - Bureau of Navigation renamed Bureau of Naval Personnel. 1945 - Aircraft from fast carrier task force begin 2-day attack on Kyushu airfields, Japan. 1964 - Organization and deployment of world's first all nuclear-powered task group, USS Enterprise (CVN 65), USS Long Beach (CGN 9), and USS Bainbridge (CGN 25), to Sixth Fleet. (Source: Navy News Service)


This Day in Naval History – May 13

1908 - Navy Nurse Corps established. 1908 - Pearl Harbor Navy Yard, later called Pearl Harbor Naval Shipyard, was officially established in the Territory of Hawaii as a coaling station for U.S. Navy ships transiting the Pacific Ocean. 1943 - Bureau of Navigation renamed Bureau of Naval Personnel 1945 - Aircraft from fast carrier task force begin 2-day attack on Kyushu airfields, Japan 1964 - Organization and deployment of world's first all nuclear-powered task group, USS Enterprise


Shell Plans to Build Floating Gas Plant

According to an Oct. 9 report from The Wall Street Journal, Royal Dutch Shell PLC announced plans to deploy the world's first floating liquefied-natural-gas facility, off the coast of northwestern Australia, in a move that could have major repercussions for the global natural-gas industry. (Source: The Wall Street Journal)


Today in U.S. Naval History: May 13

Nuclear-powered warships Enterprise, Long Beach and Bainbridge steam in formation, 1964. (Official U.S. Navy Photograph, from the Collections of the Naval History and Heritage Command.)

Today in U.S. Naval History - May 13 1908 - Navy Nurse Corps established. 1943 - Bureau of Navigation renamed Bureau of Naval Personnel. 1945 - Aircraft from fast carrier task force begin two-day attack on Kyushu airfields, Japan. 1964 - Organization and deployment of world's first all nuclear-powered task group, USS Enterprise (CVN 65), USS Long Beach (CGN 9), and USS Bainbridge (CGN 25), to Sixth Fleet.


Celebrity Honored for First Gas Turbine Cruise Ship

Celebrity Cruises has been honored by Lloyd's List for building the world's first smokeless gas turbine-powered cruise ship. The recognition came during Lloyd's biennial Shipbuilding, Machinery and Marine Technology (SMM) International Trade Fair in Hamburg, Germany. The event concluded with the presentation of the Lloyd's List-SMM 2002 Awards. Awards were presented for excellence and innovation in merchant shipbuilding, merchant marine technology and machinery


University to Design Fossil Fuel-Free Cargo Ship

UK's  University of Southampton to design the modern world’s first 100% fossil fuel-free sailing cargo ships Developments are underway at the University of Southampton to design the modern world’s first 100% fossil fuel free sailing cargo ships, in a project which aims to provide efficient and affordable low-carbon shipping in the face of rising fossil fuel prices and the global challenge of reducing greenhouse gas emissions.


ClassNK issues World’s First Statement of Compliance

Handing the SOC from ClassNK to Zhongxin; Mr. Matsui, Executive Vice President, ClassNK (left) and Mr. Liang, Director, Zhongxin (right)

ClassNK  has announced  that it has issued the world’s first Statement of Compliance (SOC) for a ship recycling facility to Jiangmen Zhongxin Shipbreaking & Steel Co., Ltd.   The Statement of Compliance issued by ClassNK certifies that the facility and its recycling procedures are fully in compliance with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (Hong Kong Convention).  


Inmarsat Launch First Satellite in the Mobile GX Network

I-5 F1 Lift Off: Photo courtesy of Inmarsat

The launch vehicle blasted off from Pad 39 at the Baikonur Cosmodrome in Kazakhstan, and the first telemetry signal was acquired soon after by Inmarsat's Paumalu ground station in Hawaii, putting the satellite under the control of Inmarsat’s mission operations team. “The successful launch of this first Inmarsat-5 satellite is a major landmark on our journey to deliver the world’s first globally available, high-speed mobile broadband service


Five Cat Engines to Power World’s First LNG-Hybrid Barge

Caterpillar Marine announced the first shipment of Cat 3500 series marine gas engines from its Lafayette, Indiana manufacturing facility. Five Cat G3516 marine engines were selected to power the Becker Marine Systems subsidiary, Hybrid Port Energy, LNG-Hybrid Barge


Damen Fits New SPS Feet to Wind Turbine Vessel

Photo: Damen

Damen ARNO Dunkerque, part of the Damen Shiprepair & Conversion Group, has given a new set of feet to what they are caling the world’s first purpose-built offshore wind turbine installation and maintenance vessel, the 2003-built MPI Resolution*


ABB RCS Workstation Wins Red Dot Award

Photo: ABB

Award for the tabletop unit of ABB’s new remote crane operator station, which is a crucial part of ABB’s crane operation solution that enables increased productivity and provides improved working environment for crane operators.


Act Fast To Curb Global Warming, Or Extract CO2 From Air - UN

 Faster action is needed to keep global warming to agreed limits and delays until 2030 could force reliance on technologies to    extract greenhouse gases from the air, a U.N. report said on Sunday.   The study, drawing on the work of more than 1,000 experts


Hyundai Heavy Names First Newbuild LNG FSRU

The world’s first newbuilding LNG floating storage regasification unit

Hyundai Heavy Industries Co., Ltd. (HHI) held a naming ceremony for the world’s first newbuilding LNG floating storage regasification unit (LNG FSRU), ordered from Höegh LNG in June 2011. The 170,000 cbm LNG FSRU, measuring 294 meters in length


Shell Advances Peterhead Clean Energy Project

Peterhead

Shell has signed an agreement with the U.K. Government to progress the Peterhead Carbon Capture and Storage (CCS) project to the next phase of design. The project, led by Shell, with strategic support from SSE, owners of the Peterhead gas power station in Aberdeenshire


Prominent Naval Engineer Dr. Ilario Hilary Rolih Dies at 82

Dr. Ilario Hilary Rolih

We deeply and sadly regret to advise the passing of George G. Sharp’s Chairman of the Board Dr. Ilario Hilary Rolih on February 16, 2014. Dr. Ilario Hilary Rolih passed away at the age of 82 on February 16, 2014 while on vacation in Cancun, Mexico. Dr


Borgøy: the World’s first LNG-Fueled Tug

sanmar 1.jpg

Late last year, an innovative project to design and build the world’s first LNG fuelled escort tugs became a reality when the Borgøy was handed over for sea trials by builder Sanmar in Tulza Bay near Istanbul. For the Christening at the Sanmar Shipyard in Tuzla


Second Modular Capture Vessel for US Operation

E L (5).jpg

Drydocks World announced the completion and delivery of Eagle Louisiana, the second of two Modular Capture Vessels (MCV) for the U.S. The first MCV, Eagle Texas, sailed away from Drydocks World’s yard in August last year. The vessels are the world’s first MCVs.


Several Companies Shortlisted for Heyerdahl Award

Maersk Triple E.jpg

Solstad Offshore ASA, Rolls Royce Marine, Norled AS and Maersk Line have been shortlisted for the prestigious Thor Heyerdahl International Maritime Environmental Award 2014. The prize recognizes candidates from the shipping industry that have made an outstanding contribution to the environment


Decom North Sea to Host “Lunch and Learn”

Decom North Sea chief executive Brian Nixon

Decom North Sea (DNS), the offshore oil and gas decommissioning forum, is hosting a “lunch and learn” event to give supply chain companies the opportunity to present their offshore decommissioning capabilities and encourage knowledge share among members


Korea Shipyard to Build Icebreaking LNG Carrier

LNG carrier in terminal: File photo CCL

Daewoo Shipbuilding & Marine Engineering (DSME) has won the first battle in the war among the shipbuilders to obtain orders for vessels to participate in the Russian Arctic 'Yamal Project' by getting the world’s first order for an icebreaking LNG carrier, reports BusinessKorea.


Asia's First LNG Powered Tugs Ordered

Image: Rolls-Royce

Rolls-Royce announced that it has won an order from Chinese state oil company CNOOC, to power Asia’s first gas powered tug. The order is for two tugs to be built at the Zhenjiang shipyard in Jiangsu, China, with an option for an additional two


Korea's HHI Shows Diverse LNG Carrier Models at Gastech

File photo CCL£

Hyundai Heavy Industries (HHI),  claimed to be the world’s biggest shipbuilder, and the only one in Korea capable of constructing both Membrane type and Moss type LNG carriers, informs it will exhibit at the upcoming Gastech 2014 show in Gyeonggi Province, South Korea.


Canadian Minister of Industry Visits KOTUG

AJ Kooren, James Moore and Paul Jamer

Canadian Minister of Industry, the Honorable James Moore, visited the KOTUG’s Headquarters and sailed on board of the hybrid Rotortug RT Adriaan, the so-called E-KOTUG, in the Port of Rotterdam. The Prime Minister, Stephen Harper and the Minister of Industry


 
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