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
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.
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
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.
The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs, shipping and trade sources said. Crude prices have fallen nearly 60 percent since June and
Libya's recognized government said it forced a tanker from delivering fuel to its rival administration, diverting the vessel to its own territory by threatening an air attack on it. The tanker Anwaar Afriqya was approaching the port of Misrata, but diverted to Tobruk
Taiwanese Navy formally took delivery Friday of a new locally designed supply vessel that it said will help enhance Taiwan's maritime combat capabilities. In a ceremony hosted in the harbor in Kaohsiung, the vessel was formally turned over to the Navy from local shipbuilder CSBC Corp
Chevron Corporation today announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement (SPA) with SK LNG Trading Pte Ltd (SK). Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4
Last month, POSH Xanadu, the largest purpose-built floatel to date was delivered at PaxOcean in Zhoushan. POSH Xanadu is a ship-shaped column stabilized semi-submersible accommodation platform, housing 750 passengers and crew in 390 spacious cabins
The Gazprom headquarters hosted today a briefing session led by Alexey Miller, Chairman of the Company's Management Committee dedicated to the Company's activities this winter. Special attention was given to the contracts for gas supply to Ukraine and its transit to Europe.
New Zealand maritime manufacturer Coppins Para Sea Anchors has secured a multimillion-dollar contract to supply anchors to a Norwegian salvage company. The family business firm based in Motueka on the South Island has sent the first of two one-tonne sea anchors to the Norwegian
With the launch of MSC Oscar, Mediterranean Shipping Company (MSC) sets a new record in terms of TEU capacity; at 19,224 TEU, the vessel is largest containership ever built.The ship was officially inaugurated at the Daewoo Shipbuilding and Marine Engineering (DSME) Shipyard in South Korea on
Ezra wins $110 million engineering and fabrication contract from Jurong Shipyard for deepwater project in Brazil; engineering, procurement and construction (EPC) contract scope includes supply of an external, bow mounted, cantilever turret mooring system with swivel stack
Cavotec announced it has received orders for its port technologies in Australia, Indonesia, Oman, Portugal and Turkey, and for two major shipping lines, with a combined value of more than EUR 11.5 million. Ottonel Popesco, Cavotec CEO, noted
CR Ocean Engineering, L.L.C. (CROE) has recently been awarded the design and supply of two Open Loop exhaust gas cleaning systems (scrubbing systems) from STENA RoRo AB. The two systems will be installed to reduce SO2 from two main engines aboard the STENA Forefunner
Partnership represents the start of LNG adoption as a marine fuel in the United States. Pivotal LNG, Inc., a wholly owned subsidiary of AGL Resources Inc., and WesPac Midstream LLC have signed a long-term agreement with TOTE, Inc. to provide liquefied natural gas (LNG) to fuel the
Excelerate Energy's Texan liquefied natural gas terminal plan has become the first victim of an oil price slump threatening the economics of U.S. LNG export projects. A halving in the oil price since June has upended assumptions by developers that cheap U.S
Russia has agreed on a new deal to supply coal and electricity to Ukraine, which is struggling with a lack of raw fuel for power plants due to a separatist conflict in the industrial east, Russian officials said on Saturday. The move comes a day after Kiev said it would suspend train
The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP). The recommended practice developed by DNV GL provides guidance on the proper design and correct operation