Marine Link
Thursday, February 23, 2017

SM Line's Maiden Voyage Next Month

Photo: S M Ship Management

The new container carrier SM Line, owned by South Korean Samra Midas (SM) Group, will launch its first service in the second week of March. The shipper which took over Hanjin's service network between Asia and the US, will also take over several of Hanjin's terminals in South Korea. According to a report in Pulse, it will set sail on its maiden voyage on March 8 along the East and South China Sea with 1,000 twenty-foot equivalent (TEU) container onboard. The fledgling shipper’s first cargo service will depart Busan port in southern Korea and stop at China…

Vitol buys Angola LNG Shipment

File Image: CREDIT QGTC

Trading house Vitol purchased a liquefied natural gas (LNG) shipment from Angola's Soyo production facility following a tender, trade sources said.   The vessel is currently sailing off South Africa on a heading which indicates a delivery to India or markets in Asia, the sources said.   Reporting by Oleg Vukmanovic 

New DP Simulator for Indonesian Training Center

K-Sim DP Manoeuvring Trainer – aft deck configuration (Photo: Kongsberg)

Jakarta, Indonesia-based maritime training center PT Azureus Simulator Asia has chosen KONGSBERG’s Dynamic Positioning (DP) simulators to help it meet significant growth in regional demand for offshore operational training. Due for delivery in June 2017, PT Azureus Simulator Asia is the first Indonesian training center to utilize KONGSBERG DP simulators. It joins a long list of South East Asia facilities enjoying the technical and pedagogical benefits of Kongsberg Digital’s simulation technology and operational partnership with the company.

Maersk Enhances Asia-Europe, Transpacific services

AE7 WESTBOUND Maersk

Maersk Line introduces a new service – the AE7 – on the Asia-North Europe trade and a new service – the TP16 – on the Transpacific trade. The new services will enable MSC and Maersk Line to accommodate the incoming volumes from the recently announced slot purchase agreements with Hyundai Merchant Marine and Hamburg Süd. The two carriers will move cargo, but not operate vessels in the 2M network. “With these exciting product improvements we confirm our commitment to provide extensive direct coverage and best in class transit times to our customers in the Asia-Europe and Transpacific trades…

Shell: LNG Demand Strong 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. This included an increase in net LNG imports of 17 MT. Many expected a strong increase in new LNG supplies would outpace demand growth during 2016. Instead, demand growth kept pace with supply as greater than expected demand in Asia and the Middle East absorbed the increase in supply from Australia, according to Shell’s first LNG Outlook. “Global LNG trade demonstrated its flexibility time and again in 2016, responding to shortfalls in national and regional gas supply and to new emerging demand,” said Maarten Wetselaar, Integrated Gas and New Energies Director at Shell.

Maersk, Hamburg Süd Enter Slot Purchase Deal

Photo: Hamburg SĂĽd

Container shippers Maersk Line and Hamburg Süd announced a slot purchase agreement for Hamburg Süd’s volumes on the East–West trades to be shipped on vessels in the 2M network. Maersk Line acquired Hamburg Süd in December 2016, and the two are party to a number of such operational agreements worldwide. Due to changes in the global liner alliances, the agreement follows commercial negotiations in anticipation of the termination of Hamburg Süd’s current slot purchase arrangements on the East–West trades.

Carrier Strike Group 1 Conducts South China Sea Patrol

The aircraft carrier USS Carl Vinson (CVN 70) transits the Philippine Sea. The Carl Vinson Strike Group is on a western Pacific deployment as part of the U.S. Pacific Feet-led initiative to extend the command and control functions of U.S. 3rd Fleet. (U.S. Navy photo by Mass Communication Specialist 3rd Class Kurtis A. HatcherReleased)

Carrier Strike Group (CSG) 1, including Nimitz-class aircraft carrier USS Carl Vinson (CVN 70), Destroyer Squadron (DESRON) 1's Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108), and aircraft from Carrier Air Wing (CVW) 2, began routine operations in the South China Sea, Feb. 18. Prior to their operations in the South China Sea, ships and aircraft from within the strike group conducted training off the islands of Hawaii and Guam to maintain and improve their readiness and develop cohesion as a strike group.

US Aircraft Carrier Strike Group Begins Patrols in South China Sea

Official U.S. Navy file photo of USS Carl Vinson (CVN 70)

Carrier Strike Group (CSG) 1, including Nimitz-class aircraft carrier USS Carl Vinson (CVN 70), Destroyer Squadron (DESRON) 1's Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108), and aircraft from Carrier Air Wing (CVW) 2, began routine operations in the South China Sea, Feb. 18. Prior to their operations in the South China Sea, ships and aircraft from within the strike group conducted training off the islands of Hawaii and Guam to maintain and improve their readiness and develop cohesion as a strike group.

POSH Takes Delivery of Two Singapore-built Tugs

Azistern 3270 Posh Husky  (Photo: OSD)

Two Azistern 3270 tugs designed by Offshore Ship Designers (OSD) have been delivered to their new owner, PACC Offshore Services Holdings Limited (POSH Singapore), the Asia-based international offshore support vessel operator.   Posh Husky and Posh Hardy were built at Paxocean Shipyard in Singapore. They are classed by Bureau Veritas, and fly the Singapore flag. The 488 gt vessels have a LOA of 31.62 m, a bollard poll of 72 tonnes, and a maximum speed of 13 knots. They can accommodate 10 crew members in six single and two twin-berth cabins.  

Asia, Mideast Product Tankers Idled on Oversupply

File Image: Credit BMT

Lower product shipments from India, Mideast; diesel comes off floating storage, frees up ships. Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said. Shipping data in Thomson Reuters Eikon shows around 50 product tankers currently floating idle off Singapore and Fujairah, United Arab Emirates. Besides…

Davao Terminal Outfits with Navis

Photo: Navis

Navis and Davao International Container Terminal (DICT) announced that the terminal has gone live with the Navis N4 terminal system. Navis is a part of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain. Since opening its gate in 2013, DICT has partnered with Navis to improve operational efficiency and the successful implementation of N4 has supported DICT’s growth as the most modern terminal in the Philippines.

Marine Propulsion Market Poised for Growth -Report

Photo: MAN Diesel & Turbo

The marine propulsion engine market was valued at $9 billion in 2015 and is projected to reach $12 billion by 2022, growing at a CAGR of 4.1 percent from 2016 to 2022, according to a new report published by Allied Market Research. Diesel propulsion system segment is expected to maintain its dominance throughout the forecast period. Asia-Pacific accounted for the highest share of 51 percent in 2015, and is anticipated to maintain this trend. Increase in production and sales of ships globally and rise in international seaborne trade drives the market growth.

W. Africa Crude-Asian Tenders, Pending Export Plans Slow Trade

File Image (CREDIT: AdobeStock)

Physical trading in West Africa was muted as the market awaited tender results and the April-loading Angolan crude oil export plan. * The benchmark oil prices on which West Africa crude oil trades retraced some of Monday's losses as confidence in OPEC's cut plan rose. * Nigerian oil minister Emmanuel Ibe Kachikwu said the country lost up to $100 billion in oil revenues last year due to militant attacks. The vice president travelled to the oil-producing Delta this week to further talks with militants.

Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG

Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material. Samsung Total Petrochemical, LG Chem and Royal Vopak are among a number of companies in Asia expanding import terminals or retrofitting plants over the next one to two years as they buy more LPG. The gas is used by petrochemicals firms to make a broad range of consumer and industrial plastics. Asian petrochemicals firms have traditionally used naphtha as a raw material. They are now switching to LPG because rising U.S. supplies have pushed prices below those of both naphtha and LPG from their main supplier, the Middle East.

DOF Subsea wins three year IMR agreement

The HUGIN 1000 Image: DOF ASA

In Asia Pacific, DOF Subsea has been awarded a 3-year IMR frame agreement with one of the major oil and gas companies in the region. DOF Subsea has recently secured a Safety Case for Geoholm, and the vessel will be available in the Asia Pacific region from the beginning of Q2 2017. In a statement, CEO Mons S. Aase said, "I am very pleased with the performance of the team in Perth. Mons added: "Including Geoholm, we will have 5 advanced subsea vessels in the region, with an average age of 6 years.

Geodis Wilson Appoints New Cluster MD

Rene Bach-Larsen

Geodis Wilson announced the appointment of Rene Bach-Larsen as Cluster Managing Director of Singapore and Southeast Asia. Looking forward to his new role of developing Geodis Wilson’s business in one of Asia’s most dynamic economical hubs, Rene said, “The Southeast Asia market—Singapore, Indonesia, Malaysia, Thailand and Vietnam—is certainly often overlooked as a growth area because of its modest size compared to the biggest players China and India. However, from a global perspective, it is actually a key area. It has weathered the global recession well and is experiencing rapid growth.

Wall Named MD of RichLand-LSP

Graham Wall, Managing Director.

RichLand-LSP strengthens chemical logistics business unit with appointment of Graham Wall as Managing Director; Singapore-based logistics solutions provider looks to expand in South-East Asia region under new leadership. Leading chemical logistics solutions provider RichLand-LSP has appointed Graham Wall as Managing Director as it looks to expand its bulk liquid chemical transport operations throughout South-East Asia. Mr Wall brings 25 years of chemical logistics experience…

Singapore Fuel Oil Trading Heats Up

Singapore fuel oil trading volumes have soared after the 380-cst front-month time spreads widened by around $1 per tonne from the previous day's close, in what could develop into an aggressive trade strategy that occasionally rattles this market. The 380-cst March/April time spreads on the Intercontinental Exchange (ICE) saw about 700,000 tonnes in contracts trade after physical trading in the S&P Global Platts Market-on-Close (MOC) price assessments concluded at 0830 GMT on Tuesday. The flurry took the spreads to about $1.70 a tonne in post-European trade by 0400 GMT on Wednesday, from around plus 70 cents a tonne previously. Traders…

Green Bay, Royal Thai Navy Kick Off Cobra Gold 2017

Photo: United States Navy

Amphibious transport dock ship USS Green Bay (LPD 20), with embarked 31st Marine Expeditionary Unit (MEU), officially kicked off Exercise Cobra Gold 2017 (CG 17) in Sattahip, Thailand, Feb. 14. Cobra Gold is a Thailand/United States co-sponsored, combined task force and joint theater security cooperation exercise conducted annually in the Kingdom of Thailand. CG 17 will be held Feb. 14-24, with up to 29 nations participating. CG 17, in its 36th iteration, will address regional and global security challenges and will promote international cooperation and stability within the region.

Traders Rush to Ship US Oil as Export Window to Asia Opens

Cap Guillaume (Photo: Euromax)

Oil majors and trading houses are set to ship an unprecedented volume of U.S. crude oil to Asia in coming weeks, boosting already high flows to the region due to higher prices from OPEC production cuts. Traders have estimated that some 700,000 to 900,000 barrels per day is set to leave the United States in February, with the majority of the cargoes headed to Asia. That volume would be the highest monthly level on record, according to the U.S. Energy Information Administration, helping reduce an U.S. inventory glut that has pressured prices for two years.

Two Offshore Vessels Join DOF Fleet

Olympic Commander will be renamed Skandi Darwin (Photo: Olympic Shipping)

The DOF Group said a Norwegian limited company not owned by DOF has signed an agreement with Olympic Shipping to purchase two vessels, Olympic Commander and Olympic Hera. DOF and the new owner have entered into an agreement for management and operation of the two vessels, and DOF has an option to purchase the vessels at a price corresponding to the outstanding debt or approximately 50-60 percent of historical build costs. In a statement, DOF Group CEO Mons S. The subsea vessel Olympic Commander will be renamed Skandi Darwin…

Singapore Wants New Gas Projects

Arve Johan Kalleklev, regional manager, DNV GL – Oil & Gas South East Asia & Australia. Photo: DNV GL

New research by DNV GL, the technical advisor to the oil and gas industry, has revealed that more oil and gas professionals in Singapore (46%) than globally (31%) are looking for new gas projects. Nearly nine out of ten respondents (87%) believe that gas will become an increasingly important component in the global energy mix in the next ten years – ten percentage points higher than the global average. Short-term agility, long-term resilience is DNV GL’s seventh annual benchmark study on the outlook for the oil and gas industry…

Carnival Orders Two Cruise Ships for China

Photo: Fincantieri

Fincantieri, China State Shipbuilding Corporation (CSSC) and Carnival Corporation & plc signed a binding Memorandum of Agreement (MoA) for the construction of two cruise ships, with an option for additional four, the first units of the kind ever built in China for the Chinese market. The parties signed the MoA on behalf of the joint venture between Fincantieri and CSSC Cruise Technology Development Co., Ltd (CCTD), of the joint venture between Carnival Corporation and CSSC, and of the shipyard Shanghai Waigaoqiao Shipbuilding Co., Ltd (SWS).

Maritime Reporter Magazine Cover Feb 2017 - The Cruise Industry Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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