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
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.
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.
IMTRA, a manufacturer and importer of quality marine products, announced today its Side-Power SH1000 thruster system has been installed on the fourth hull of the 114-foot U.S. Navy Range Training Support Craft (RTSC-110). Selected to replace another supplier used on the previous three builds
U.S. utilities have withdrawn a record amount of natural gas from underground storage to meet heating and power needs during an extremely cold winter, but gas producers say they are confident they can rebuild inventory. By Eileen O'Grady
Ukraine's state energy company Naftogaz said on Thursday it has fully paid for Russian gas supplied in January and is in talks with Russia's Gazprom on settling other payments to ensure safe gas deliveries. Gazprom said on Wednesday that Ukraine's total debt for Russian gas deliveries stood at
Supply rises by 170,000 bpd, led by Iraq, Angola. Saudi Arabia trims output, Libyan supply falls and OPEC output below 30 million bpd target for fifth month. OPEC's oil output has risen further in February from December's 2-1/2-year low, due to more shipments from Iraq and Angola
Norway based boat handling system and specialised davit supplier Vestdavit has been contracted by French shipyard Socarenam to supply the davits for a new 50 m patrol boat which it will build for the French customs. Vestdavit will supply two davits
Since January 2014, the marine lubricant specialist LUKOIL Marine Lubricants Ltd. offers bulk supply of lubricant main grades in Novorossiysk, Russia’s main port on the Black Sea. On January 15, 2014 the first large order of Navigo 70 MCL was successfully delivered by barge.
MTN explains that this advanced hybrid network enables satellite and terrestrial broadband connectivity for higher performance connections on large vessels both at-sea and in-port. With approximately 4,000 guests and 1,600 crew, the new cruise ship Norwegian Getaway is the first to
Company continues roll-out of measurement technology across global fleet to provide customers with accuracy in supply. OW Bunker hasannounced that it has installed a Coriolis Flow Meter on one of its refueling barges in Rotterdam. OW Bunker is the first independent physical fuel
Tideworks Technology, Inc., a premier provider of full-service terminal management and planning software solutions, today announced that the new Barranquilla Container Terminal (BCT), located at the Port of Barranquilla, Colombia, has successfully implemented and gone live with Tideworks’
L-3 SAM Electronics announced that it has been commissioned by steel contractor Bladt Industries A/S of Aalborg, Denmark, to outfit transition pieces for the EnBW Baltic 2 wind farm due to become operational this year. “The EnBW Baltic 2 project is the second major turnkey wind farm
The Office of Management and Budget (OMB) completed its review of RIN 1625-AC10: the draft Coast Guard requirements for training of personnel and manning on mobile offshore drilling units (MODUs) and offshore supply vessels (OSVs) engaged in US outer continental shelf (OCS) activities.
Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, has announced the expansion of its West African operations with the award of two PSV contracts worth $50 million (USD).
The U.K.’s largest independent safety supplier Ocean Safety has delivered a full safety inventory to the new workboat for Svitzer UK, as part of their ongoing contract to supply and support the U.K. fleet. The new workboat Svitzer Leven is currently undergoing sea trials and will be based
Marine transport advisors, McQuilling Services recently released its 2014-2018 Tanker Market Outlook that forecasts spot freight rates across eight tanker classes and 13 major trading routes. This year’s edition also includes a forecast of asset prices over the same period for
Rolls-Royce says it has signed a contract with the shipyard group Vard for its latest DP3 dynamic positioning system to be installed on two new offshore construction vessels. The two vessels will be built at VARD Group, Langsten, Norway and delivered during the first half of 2015