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
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.
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.
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
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
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.
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.
Corvus Energy Inc. has announced that it has been selected as the supplier of the lithium ion based energy storage system (ESS) for a new hybrid chemical tanker being built for Rederiet Stenersen AS of Norway. The chemical tanker will be the first vessel of its kind to utilize an ESS
Debt-laden Farstad Shipping gets lifeline; billionaires Fredriksen and Roekke join forces. Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn
Shell and Pavilion Gas will start supplying Singapore with liquefied natural gas (LNG) later in 2017 under contracts awarded last year, the city-state's trade minister said on Tuesday. "We will also allow interested parties to import spot LNG in the second half of 2017
LNG Demand Set to Outpace Gas Demand Growth from 2015 to 2030 Shell launches LNG Outlook Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year
The Board of Directors of Viking Supply Ships AB has appointed Trond Myklebust as Chief Executive Officer (CEO). Myklebust will also act as CEO in Viking Supply Ships A/S, and will take over the responsibilities as CEO in both companies ultimo January.
To further explore opportunities and strengthen its footprint in Russia, Viking Supply Ships (VSS) has entered into a strategic cooperation with Sevnor Ltd, a shipping and offshore company with extensive presence in the Russian offshore market.
Oil prices were little changed on Monday, with little news to influence a market waiting to see whether U.S. production from shale fields will grow enough to offset planned output cuts by OPEC, Russia and other producers next year. Brent futures for February delivery were down 24 cents, or 0
OceanSaver said it has received the final type approval certificate from U.S. Coast Guard as the first ballast water treatment system (BWTS) supplier utilizing electrochlorination. This means that a USCG type approved system is now available for medium and large vessels like LR1s
Neste and Polferries, a Polish company with a fleet of ferries operating on the Baltic Sea, have agreed on the delivery of low-sulfur marine fuel for the Nynäshamn-Gdansk route in 2017. "Polferries is an important new customer for us
In its Shipping Outlook 2017, Drewry Maritime Financial Research benchmarks its shipping investments thesis against “Capital Returns: Investing Through the Capital Cycle: A Money Manager’s Reports 2002-15”, by Edward Chancellor.
Advances in digital signal processing lead to more flexible power converters that can be programmed to meet the precise requirements of variable inputs/outputs required To operate marine electronics and communication devices, power converters such as inverters
A marine power generation and climate control products manufacturer Northern Lights, Inc. (NLI) has announced completion of a 235kW Commercial Series generator set for the Fire Department of New York. The unit – M235C13
In 2016 the shipping industry saw significant supply side adjustments in reaction to continued market pressures, says a report from Clarksons Research. For shipbuilders this meant a historically low level of newbuild demand with fewer than 500 orders reported in 2016
As previously communicated, The Board of Directors of Viking Supply Ships AB in December 2016 appointed Mr. Trond Myklebust as Chief Executive Officer (CEO). Mr. Myklebust has now taken on the responsibilities as CEO of Viking Supply Ships AB, as well as the subsidiary Viking Supply Ships A/S
MAN Cryo – MAN Diesel & Turbo’s marine LNG fuel-gas-system manufacturer – has signed a contract with Sefine Shipyard in Turkey to deliver a marine LNG fuel-gas supply system (FGSS) to an Italian ferry. The LNG supply system consists of a 150 m3 vacuum-insulated