Intertanko has established a tradition of asking members and guests at its Annual Dinner to forecast what the rates will be one year ahead when they gather again for the next Tanker Event and AGM. Last year in Washington, the secretariat threatened to reveal the findings of the psychoanalyst that they had allegedly employed to scrutinize the forecasts made in Rotterdam in 2002. Owners were as bad as charterers, and brokers as bad as analysts at predicting future market levels! With the Annual Event and Dinner in Dubai now only a few weeks away (28-31 March) the analysis of last year's forecasters is already causing considerable amusement in the INTERTANKO offices around the world. What would you have forecast a year ago for end March 2004 for: WS rate VLCC AG-Japan? Million dwt. of tankers sold for recycling in 2003? Oil price Brent Blend (USD/bbl)? While the deadweight recycled is a known figure and the winner has been identified (but remains a closely guarded secret), the WS rate and oil price are still "up in the air". In the meantime, will the WS improve to reach the highest WS rate forecast of W145? Hopefully it will not collapse to the lowest level predicted - W29. The oil price predictions spanned a much narrower band, namely 15-35 USD/bbl., and a close outcome is anticipated. However the top line speakers from the tanker and the oil industries that have been lined up for the Tanker Event will certainly give those attending a better chance of getting it
The J D Neuhaus company have a long established reputation for the design and manufacture of materials handling products. They also supply purpose designed equipment for specialized applications such as the oil and gas industry where safety and reliability are primary requisites. For this purpose they can supply hoists, with a lift capacity range from 0.25Kg up to 100 tons, to API7K certification. These are high durability products rated explosion proof/spark resistant and powered by
Software manufacturer Northport Systems Inc. announced the addition of Hilton’s Realtime-Navigator support to its online Fugawi X-Traverse collection for use with Fugawi navigation software, Apple iPhone and MacENC for Apple OS X. The combination of Fugawi X-Traverse and Hilton’s Realtime-Navigator gives users an unparalleled set of ocean condition tools to identify fish holding locations. The ultimate saltwater fishing tool, Fugawi X-Traverse provides users of the iPhone
Damen Shipyards will unveil its new Platform Supply Vessel (PSV) at EUROPORT 2011 and will launch a complete PSV range in the next few months. The PSV 3300 E3 is a dedicated supply vessel to transport supplies to oil and gas rigs and is specifically designed to perform safely in adverse weather conditions. The first two vessels will be built at the renowned Damen shipyard in Galati, Romania. Delivery is scheduled for early 2013.
Gregg Trunnell, Executive Director, Pacific Maritime Institute announced "Rating Forming Part of a Navigational Watch Program" a program that is geared to reducee onboard training time for employees when working in coordination with employers. Upon successful completion of the RFPNW program, seamen will be issued an interim certificate “Rating Forming Part of a Navigational Watch – Lookout Duties Only.” This will allow the OS or AB to independently stand lookout watches while they
1862 - CSS Arkansas destroyed by her commanding officer to prevent capture by USS Essex. 1943 - Battle of Vella Gulf begins. US destroyers sink 3 of 4 Japanese destroyers. 1945 - Atomic bomb detonated over Hiroshima, Japan. Navy weaponeer, Captain W.S. Parsons, USN, armed the atomic bomb on the B-29 bomber, Enola Gay. 1990 - President George Bush orders Operation Desert Shield, largest overseas deployment since Vietnam, to protect Saudi Arabia after Iraqi's invasion of Kuwait.
Today in U.S. Naval History - August 6 1862 - CSS Arkansas destroyed by her commanding officer to prevent capture by USS Essex. 1943 - Battle of Vella Gulf begins. U.S. destroyers sink three of four Japanese destroyers. 1945 - Atomic bomb detonated over Hiroshima, Japan. Navy weaponeer, Captain W.S. Parsons, USN, armed the atomic bomb on the B-29 bomber, Enola Gay. 1990 - President George Bush orders Operation Desert Shield, largest overseas deployment since Vietnam
Globecomm Maritime debuted Access Chat Plus, an optimized chat and video conferencing offering designed for maritime satellite communications. Access Chat Plus provides maritime users with a means to make video calls and chat live over satellite using.Access Chat provides instant messaging and voice calling, while Access Chat Plus provides the same with the addition of video conferencing. Both Access Chat and Access Chat Plus are available in a range of pricing options for corporate and
Maritime exhibition offers platform for technical innovators attracted by offshore investments The offshore market remains buoyant, with exploration and production driving new fleet investment, design innovation in vessel efficiency and reduced environmental impact. Operations in more challenging offshore environments are also demanding enhanced vessel maneuverability, station-keeping and overall safety, in line with tightening regulations.
1897-The Overland Expedition, consisting of three officers from the Revenue Cutter Service, departed from the cutter Bear off Nunivak Island to rescue 300 whalers trapped in the ice at Point Barrow, Alaska. The rescuers were First Lieutenant D. H. Jarvis, Second Lieutenant E. P. Bertholf (later a commandant), and Surgeon S. J. Call. The rescuers had to travel over 1,000 miles overland to reach the whalers.
Astana hosted today a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Uzakbai Karabalin, Minister of Oil and Gas of the Republic of Kazakhstan. The parties discussed further cooperation in the gas sector and, in particular
Trelleborg’s marine systems operation has been awarded the contract to supply more than 70 UE1000 Unit Element fender systems to DP World Southampton. The new systems, taking the total supplied by Trelleborg to the Southampton container terminal to over 110
Construction of the Guangdong company COSCO Singapore CHELLSEA third ship built offshore platform supply vessels UT771-WP (N605) was successfully started yesterday. The total length of 85.7 m platform supply vessels, width 18 m, depth 7
Vard Holdings Limited announced that it has secured a contract for the design and construction of one Platform Supply Vessel (PSV) for E.R. Offshore. The vessel is a multifunctional PSV of VARD 1 08 design with a total length of 81 meters, beam of 18 meters and a cargo deck area of 830 m2
MacGregor, a part of Finnish cargo-handling equipment maker Cargotec, has won an order to supply equipment for vessels to be built for Bumi Armada Berhad, a Malaysia-based international offshore oilfield services provider, Cargotec said on Friday.
I-Tech says it has entered into a non-exclusive supply agreement with Chugoku Marine Paints Ltd (CMP) for use of I-Tech’s proprietary product, Selektope, in commercial antifouling paints. Selektope is to be used as the principle biocide in new products to be brought to the market by CMP.
Leading freight transport insurer, TT Club, apprises of its support for a unique learning initiative – 'Business on the Move'. The educational tool takes the form of a board game which is designed to be played at varying levels of complexity; suitable for primary and secondary school
Marine flooring manufacturer Durastic has supplied a range of its specialist products to Hyundai Heavy Industries in South Korea to help build a major new North Sea oil platform for BP. Durastic, which has sites in Liverpool, Jarrow and Southampton, U.K
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
Today’s naming ceremony of the aircraft carrier HMS Queen Elizabeth marks a major milestone in Tata Steel’s 12-year involvement in the project. In that time the company has supplied 40,000 tonnes of steel and developed three entirely new grades of lighter and stronger steel
Rates for capesize bulk carriers on key Asian routes are set to slide next week as too many ships chase too few cargoes from Australia and Brazil, brokers said. There are around 32 capesize ships in ballast and currently available for charter
Three years after its inception, today sees the official launch of an innovative new board game designed to teach young people of all ages about the importance of today’s supply chain in global commerce. The game - Business on the Move - aims to inspire
In the past few weeks, Harding, an international supplier of maritime safety equipment, has signed three framework agreements with Statoil, Petrobras and A.P. Møller Mærsk. "This shows that our global strategy of being a complete supplier of both equipment and services was
FPSOs play a key role in deepwater oil and gas production. A 'DW Monday' analysis of FPSO projects found cost overruns of nearly 40% and average project delays exceeding one year for some. In response to this DW recently brought together 20 companies from across the FPSO supply chain in a round
Incat Crowther announced the launch of Baru Gorgona, the first of a new series of 12 UT4000 Monohull Fast Supply Vessels to be built by ETP Engenharia Ltda. Additionally, Incat Crowther has signed a contract to supply the design of six further UT4000 FSVs to be built at Arpoador Engenharia Ltda