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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. 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)


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


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


GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced the order of nine Liquefied Natural Gas Carriers (LNGCs) which will be built by the Korean shipbuilder Daewoo Shipbuilding &


ABS to Class the World's First CNG Ship

ABS Chairman and CEO Christopher J. Wiernicki

ABS announced it has been chosen to class the world's first compressed natural gas (CNG) carrier ordered by Pelayaran Bahtera Adhiguna, a subsidiary of Indonesia's state-owned power company Perusahaan Listrik Negara (PT PLN). The award for the precedent-setting ship


Russia, China May Develop Floating Nuclear Power Plants

Russia and the world's top energy user China may jointly develop six floating nuclear power plants (NPPs), Russia's nuclear export body said on Tuesday, a further joint energy project since the signing of a $400 billion gas supply deal. Rusatom Overseas


MOL Ship Management Earns Energy/Enviromental Certifications

Hybrid car carrier Emerald Ace under way

First company to receive ISO50001 certification from Nihon Kaiji Kyokai.   MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.S.K. Lines, Ltd. (MOL), has announced acquisition of certifications from Nihon Kaiji Kyokai (NK;


Line-Handler M/T Brage Shipped North

Photo courtesy of Sanmar

Sanmar Marine’s modern, custom built yard in Turkey has completed the construction of a new design of RAscal class, the 1500, for Norwegian owner operator, Buksér og Berging AS. This compact class of tug is a series of high-performance but relatively straight forward smaller tugs


New Zealand Mulls Ocean Floor Mining Proposal

Ocean Floor: Image credit Pixabay CCL

New Zealand decides this week whether to approve an underwater iron-ore operation that would likely become the world's first commercial metals mine at the bottom of the sea. A green light to allow New Zealand's Trans Tasman Resources Ltd to start iron-ore dredging off the country's west coast


Compact Dredge Monitoring System Released

GeoDredge installed in the back of an excavator. (Photo: CT Systems)

CT Systems officially released what it is calling the world’s first all in one dredging computer, GeoDredge. GeoDredge houses all necessary components in a single housing. GeoDredge acts as a hardware platform for the Viking software.


Doosan Deliver First MAN DF Engine for TOTE Containership

TOTE containership rendering courtesy of NASSCO

MAN Diesel & Turbo inform that  licensee Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA


Zeebrugge Orders Seagoing LNG Bunkering Vessel

Port of Zeebrugge (Photo: Port of Zeebrugge)

On May 13, 2014 Mitsubishi Corporation, GDF SUEZ and NYK signed a framework agreement aiming to develop the LNG bunkering market worldwide, in the context of international regulations that seek to reduce the impact of shipping activities on the global environment.


Keppel FLNG MOSS Vessel Conversion Contract Activated

An FPSO: File photo

Keppel Shipyard says that the contract it entered into earlier with Golar Hilli Corporation to perform the world's first-of-its-type conversion of an existing Moss LNG carrier, the Hilli, into a Floating Liquefaction Vessel (FLNGV), has become effective


L-3 MSI to Supply Electrical Packages to Biogas Ferry

Samsø Færgen

L-3 Marine Systems International (L-3 MSI) announced today that it has been awarded a contract to provide advanced automation, navigation, communications and electrical propulsion facilities for Samsø Færgen, a new 100-meter, double-ended passenger/car ferry built by Remontowa


Green-ship Certification Center Opens in Korea

Image: KR

Announced in 2012 as the world’s first green-ship equipment certification center, The Korean Register – an IACS member class society, and founding partner in the project –announced that the center has opened for business earlier this month in Gunsan, Jeonbuk, Korea.


TOTE’s Marlin Class Ships Enter Next Build Phase

The world’s first dual-fuel slow-speed engine arrived at General Dynamics’ NASSCO Shipyard (Photo: TOTE)

Engine and LNG Tanks Delivered to NASSCO The arrival of the world’s first dual-fuel slow-speed engine to General Dynamics’ NASSCO Shipyard marks the next phase of construction for TOTE’s Marlin Class vessels, projected by TOTE to be the world’s safest and cleanest


Industry's First Color Fishfinder by Lowrance

ELITE-3x FRONT

  Lowrance, a world-leading brand in marine electronics since 1957 — announced today the newest additions to its Elite family of fishfinder and chartplotter products, the Elite-3x and Elite-3x All Season pack. The most affordable color fishfinder ever introduced


MES Gets First Order for ME-GI Marine Engine

Photo: MES

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) has received the first order of electronically controlled gas injection diesel engine (ME-GI) for MES. MAN B&W 8S70ME-C8.2-GI will be installed on two 2,400 TEU + 400 vehicles ConRo ships to be built by U.S. shipyard VT Halter Marine Inc






 
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