‘World’s Greenest Cruise Ship’ Construction Underway
Hurtigruten CEO Daniel Skjeldam pressed the button to officially kick off the construction of hybrid expedition cruise ship MS Roald Amundsen – “the greenest cruise ship the world has ever seen,” according to the ship owner. The new ship is the first of a new generation that will change expedition travel forever, Skjeldam said during the ceremony at Kleven Yards on the western coast of Norway. When launched in 2018, MS Roald Amundsen will be the world’s first expedition cruise ship powered by hybrid battery technology.
Trump Seeks 'Historic' Increase in Defense Spending
President Donald Trump is seeking what he called a "historic" increase in military spending of more than 9 percent, a huge rise even as the United States has wound down major wars in Iraq and Afghanistan and remains the world's strongest military power. Trump will seek to boost Pentagon spending in the next fiscal year by $54 billion in his first budget proposal and slash the same amount from non-defense spending, including a large reduction in foreign aid, a White House budget official said on Monday. The president does not have the final say on federal spending.
Baltic Index Gains for 9th Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched gains for the ninth straight session to end at a more than one-month high on Monday, helped by higher rates for panamax vessels. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, closed up three points, or 0.34 percent, at 878 points, its highest level since Jan. 24. The panamax index ended 19 points, or 2.01 percent, higher at 966 points.
Haropa Ports sees double digit maritime trade with India
France-based Haropa port expects maritime trade with India to grow at double digit this calendar year after having reported 7% growth in 2016, said Herve Martel, , CEO - Port of Le Havre & President- HAROPA ports. “We have received encouraging response from the Indian policy makers as also from port, shipping lines & Indian trade during our four day visit to India and we hope to build upon this momentum with increasing French investments taking place in India,” Martel said at the concluding leg of the multi city road show that took place in Delhi, Chennai, Ahmedabad and finally in Mumbai.
Milaha Profit Down for 2016
Qatar Navigation (Milaha), a maritime and logistics conglomerate based in Qatar, has reported a net profit of $195 million for the year ended December 31, 2016 compared to $300 million reported the previous year. The fall in the profit was mainly as a result of lower revenue from our Port Services unit, which was affected by a drop in storage and general/bulk cargo revenue, and rate pressure in our Container Shipping unit, which still managed to grow its market share and volumes. Milaha said its operating profit hit QR555 million compared to QR855 million reported the previous year.
NIMASA Repositions as Global Player
Nigeria would be hosting the 3rd Conference of the Association of Heads of African Maritime Administrations (AAMA Conference) in Abuja, at the Transcorp Hilton Hotel, from 19th -21st of April,2017 in a bid to continue to improve on its role as a global player in the comity of maritime nations. Nigeria Maritime Administration and Safety Agency (NIMASA) director-general Dr. Dakuku Peterside has said in a statement that the meeting will be hosted in conjunction with International Maritime Organisation (IMO).
Iran Stages Massive Navy Drill in Indian Ocean
Amid rising tensions with the US, Iranian naval forces have launched the final stage of a large-scale drill north of the Indian Ocean to enhance their defense capabilities, reports PressTV. Navy Commander Rear Admiral Habibollah Sayyari announced the beginning of the maneuver, code-named Velayat 95, on Sunday. The latest exercise, stretching from the Strait of Hormuz and Oman Sea to north of the Indian Ocean, marks the last phase of war games that started in 2016. The commander said that the war games include electronic warfare…
Wary of Trump unpredictability, China ramps up naval abilities
* China still lags U.S. BEIJING, Feb 26 (Reuters) - The PLA Navy is likely to secure significant new funding in China's upcoming defence budget as Beijing seeks to check U.S. dominance of the high seas and step up its own projection of power around the globe. China's navy has been taking an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and new Chinese warships popping up in far-flung places. Now, with President Donald Trump promising a U.S.
Hyundai Heavy Union on Path to Strike
The labor unions of Hyundai Heavy Industries (HHI) downed tools in their first full strike since 1994, in protest to a sweeping restructuring plan that includes spinoff all non-shipbuilding operations as well as shutdown of a dock in Gunsan in southern coastal region. According to Yonhap News Agency reports the other reason for the industrial strike was failed wage negotiations. Although 15,000 union members were invited to take part in the eight-hour strike, only ten percent of workers participated in it. The labor unions’ employees started a strike for eight hours from 8 a.m.
Arctic Nature's Clock has Gone Haywire
Nature’s clock is running fast in the Arctic, thanks to climate change. Some plants in the low Arctic of Greenland are emerging sooner than usual. Due to diminishing sea ice cover, spring is coming sooner to some plant species in the low Arctic of Greenland, while other species are delaying their emergence amid warming winters, says a study. "The timing of seasonal events, such as first spring growth, flower bud formation and blooming, make up a plant’s phenology — the window of time it has to grow, produce offspring and express its life history.
Company to Pay $9.5 Mln for Actions Leading to US Gulf Explosion
Wood Group PSN Inc., a Nevada corporation headquartered in Houston, was ordered to pay $9.5 million in two separate cases involving its conduct in the Gulf of Mexico. Specifically, Wood Group PSN was ordered to pay $7 million for falsely reporting over several years that personnel had performed safety inspections on offshore facilities in the Gulf of Mexico in the Western District of Louisiana, and $1.8 million for negligently discharging oil into the Gulf of Mexico in violation of the Clean Water Act after an explosion on an offshore facility in the Eastern District of Louisiana, announced Acting Assistant Attorney General Jeff Wood of the Justice Department’s Environment and Natural Resources Division, U.S. Attorney for the Western District of Louisiana Stephanie A. Finley, and U.S.
SpeedCast Offers Full Fleet Xpress Integration
SpeedCast International, a global communications and network service provider, is the first Inmarsat partner to integrate the software element of the Fleet Xpress Network Service Device (SoftNSD) into its Fleet Xpress offering. This allows third party application providers to develop and publish innovative, content-rich applications over Fleet Xpress, such as the real-time analysis of data, including engine monitoring, weather information and fuel consumption rates. These applications can deliver real benefits in operational efficiency, safety and compliance, IT security and crew welfare. The integration of the software element of the Fleet Xpress Network Service Device will also allow SpeedCast to build value added solutions and applications over SIGMA Gateway.
Total in Talks to Buy Iranian LNG Project
Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a discount to the pre-sanctions price in exchange for reviving the stalled project, two sources with knowledge of the matter said. A third source confirmed Total was in the running for a stake, alongside several other oil majors, but any deal was still some way off. Total declined to comment. Iran's National Gas Export Co. (NIGEC), a central stakeholder in the project, did not respond to requests for comment by email and phone.
Hanssons Increase Holding in NAT
A company owned by the Nordic American Tankers Limited (NAT) Chairman & CEO, Herbjorn Hansson, and his son, Alexander, has purchased 75,000 NAT shares last week, adding to the position as one of the largest shareholders of NAT. The share price was $7.96 per share.
Philippines Wants 'Clarity' on China Ties Before Allowing S China Sea work
The Philippines is waiting for clarity on its relations with China before lifting a suspension on exploration in disputed areas in the South China Sea, its energy minister said on Monday. It is being studied whether it is "high time to lift the suspension," Energy Secretary Alfonso Cusi told Reuters in an interview. Cusi said any exploration activities would require approval of the Philippine foreign ministry, which was responsible for consultations with China. Reporting by Martin Petty and Enrico dela Cruz
Russian Frigate Heads to Med on Syria Mission
The Russian frigate Admiral Grigorovich left the port of Sevastopol in Crimea on Monday for the Mediterranean where it will join the country's naval forces deployed near the Syrian coast, a Russian source told Reuters. The source did not provide further details. A Reuters witness saw the ship leaving its moorings in the naval port of Sevastopol. The frigate was deployed to the Mediterranean Sea last November as part of Russia's naval task force to Syria where it launched cruise missile strikes against Islamic State targets. The Russian navy was not immediately available for comment.
$400 bln of unassessed climate risk in shipping
Today, Carbon War Room (CWR) and UMAS released research that suggests climate transition pathways pose risks to the banks that hold $400 billion of global shipping debt. With the onset of climate policies as soon as 2023, there will be a need for significant capital investment to keep vessels competitive. Navigating Decarbonisation: An approach to evaluate shipping’s risks and opportunities associated with climate change mitigation policy lays out the first approach to climate stress-testing of shipping assets and proposes that enhanced due-diligence undertaken today by financiers…
MOL, University of Tokyo Graduate School Team up on Project based learning
Mitsui O.S.K. Lines, Ltd. today announced the completion, on Friday, February 10, of this year’s Project Based Learning (“PBL”) program at the University of Tokyo Graduate Program for Mechanical Systems Innovation (GMSI), Research and Education Consortium for Innovation of Advanced Integrated Science (CIAiS) and Global Leader Program for Social Design and Management (GSDM). “PBL”is a program implemented by University of Tokyo Graduate School, aimed at developing personnel who…
Austal HY profit slides
Underlying EBIT of $31.2m after excluding arbitration settlement related to 7-year-old claim. Earnings growth from US shipyard. Lower throughput in Australian shipyard, as anticipated. Austal Limited today reported its results for the six months ended 31 December 2016, with a Net Profit After Tax of $9.3 million. Austal’s financial engine room in the USA, delivered a strong turnaround in earnings, with segment EBIT up 53% on the prior corresponding period (“pcp”) to $41.1 million.
Tilbury mulls setting up New Port Terminal
The Port of Tilbury, London’s major port, begins its pre-planning community consultation on 6 March to seek local views on its proposals to build a new port terminal adjacent to the current port. The proposed new port terminal, known as Tilbury2, will be built on a 152 acre site which was part of the former Tilbury Power Station and will include a new pontoon and deep water jetty. The Port of Tilbury has been expanding at a fast rate over the past two decade as businesses in the port look for more space and land…
MOL to Invest in Seajacks International
Mitsui O.S.K. Lines is investing in self-elevating platform vessel operator Seajacks International Limited (Seajacks) to move into offshore business following FPSO, FSRU, Shuttle Tanker, and Subsea Support Vessel. MOL has announced a plan to acquire a 5% share in Seajacks, which owns and operates five Self-Elevating Platform vessels, from Marubeni Corporation. This is a new offshore business for MOL, following FPSO, FSRU, shuttle tanker, and subsea support vessel. It is also the…
Greenpeace ship My Esperanza in West Africa
The Greenpeace ship My Esperanza has docked at the port of Praia in Cape Verde. For eleven weeks the Esperanza will sail the waters of six West Africa States - Cape Verde, Mauritania, Guinea Bissau, Guinea, Sierra Leone and Senegal to raise awareness on the state of fisheries through political events, public engagement and consultations with the West-African science community. The ship tour named “The West Africa tour of hope” will provide an opportunity to make these countries’ voice on protecting their own sea and marine resources heard internationally.
Philippines Putting Energy-Efficient Shipping on the Curriculum
The Philippines is the latest country to receive International Maritime Organization (IMO) support to promote energy-efficient ship operation. A workshop taking place in Manila (23-24 February) is equipping 30 maritime educators from across the country with the knowledge to introduce the topic of ship energy-efficiency into their teaching curriculums. The event, run under IMO’s GloMEEP project, is the second of its kind to take place in Asia this week – following a productive event in Malaysia (20-21 February).
Navies Training to Fight off the Western Australian Coast
More than 17 ships and aircraft are descending on the Western Australian coast for one of the largest maritime warfare exercises held by the Royal Australian Navy. The inaugural Exercise OCEAN EXPLORER will include some international participants, adding the opportunity to practice war fighting with language, customs and technology differences. The Spanish Armada’s ESPS Cristobal Colon, as well as New Zealand’s HMNZ Ships Te Kaha and Endeavour and, for a brief period, Italian frigate ITS Caribiniere will all integrate into the Australian scenarios.
Global Climate Rules Vital for Shipping
International Maritime Organization (IMO) Secretary-General Kitack Lim has spoken about the importance of a global approach to climate change regulation for the shipping industry. During the World Ocean Summit in Bali, Indonesia (22-24 February), organised by The Economist, Lim emphasized how global regulation through IMO has already established far-reaching mandatory technical and operational measures to reduce shipping’s carbon footprint and set out a “road map” to determine any further measures that may be needed.
ClarkSea Index: Shipping Markets Under Severe Pressure
With the ClarkSea Index around $9,000/day, and many if not most of the major shipping markets under severe pressure, it’s hard to escape the conclusion that the shipping markets are a tough place right now, with limited pickings to share between owners. Last week the ClarkSea Index stood at $8,743/day, and during 2016 as a whole the index averaged $9,441/day, taking into account earnings in the tanker, bulkcarrier, gas carrier and containership sectors, across a selection of over 21,000 units at the start of the year.
MOL to Restructure Organization
The Japanese shipping company Mitsui O.S.K. Lines, Ltd (MOL) will restructure its organization effective April 1, says a press statement from the company. MOL is establishing the Product Transport Business Unit, under which much of the carrier and port divisions will reside. It has also submitted an application to establish a logistics subsidiary in India. The company will establish the Product Transport Business Unit to create the cross-sectional system “One MOL” to promote businesses in the product transport field and further meet customer needs.
Voices: Todd Roberts, President, Marine Group Boat Works
"As a kid, I worked for our sister company, Flagship Cruises (formerly San Diego Harbor Excursion),” said Roberts. “I wanted to be a deckhand on the ferry but I was told that I was too young, so I started out sweeping the floors in the boathouse, and doing just about anything, from loading the boats to hauling line. Going to work for me was like other kids going to the Little League field. And so starts the story of Todd Roberts’ maritime career some three decades ago. Roberts graduated Cal Maritime…
IBIA in Attack Mode
The IMO’s MEPC 70 proposals for a marine fuels sulfur cap of 0.5% to be in place by 2020 have attracted severe criticism from several major stakeholders in the maritime sector, including the International Bunker Industry Association, the organization that defends the interests of bunker fuel suppliers. The IBIA has stated that several unknowns remain about the proposed limit and has asked whether assumed global capacity will translate into actual marine market supply in 2020: “Will refiners produce suitable fuels, and what will these fuels look like?
China Sells Ships Online
Chinese Maritime Court has sold five vessels of bankrupt Wenzhou Shipping, subsidiary of Zhejiang Shipping Group, through online auctions on Taobao.com for a a total price of $22.81m. The auctioned ships include 2011-built 57,000-dwt supramax bulker Zhe Hai 167, 2009-built 33,400-dwt handysize bulker Zhe Hai 162, 2009-built 23,500-dwt handysize bulker Zhe Hai 156 , a tugboat and an oil barge. Singapore-based company Varada One's vessel was auctioned off on online shopping platform Taobao for $11.7, Xinhua news agency reported. The VLCC Varada Blessing is 1993-built, 300,000 dwt tanker.
New Interferry CEO to Make Funding Call at European Shipping Week
Mike Corrigan, the incoming CEO of global trade association Interferry, is to advocate greater European Union involvement and investment in the ferry sector during an address on the opening day of European Shipping Week, which takes place in Brussels from February 27-March 3. Interferry is hosting a reception that immediately follows a short sea shipping seminar organized in conjunction with the shipowners’ associations of The Netherlands, France, Greece, Sweden, Spain and Croatia. Corrigan, currently president & CEO of Canada’s BC Ferries and who assumes his new role on April 1, will outline his case to a wide audience including EU regulators, member state representatives, operators and port authorities.
Spain's Government, Port Unions on Collision Course
Spain's cabinet passed a draft law on Friday to end closed-shop hiring at the country's ports, putting the government on a collision course with unions which have called nine days of strikes that are likely to decimate trade flows. Around two-thirds of Spain's imports and exports pass through its ports, and prolonged industrial action could be especially painful for the country's automobile industry and chemical sector. The bill, which attempts to bring Spain's restrictive port labour practices into line with the rest of Europe, still faces an uncertain passage through parliament.
ICS Chairman Outlines Plan for CO2 Reduction
Esben Poulsson, Chairman of the International Chamber of Shipping, has set out what the industry would like the International Maritime Organization (IMO) to achieve as part of its CO2 reduction strategy for the shipping sector. Speaking at The Economist’s World Ocean Summit in Indonesia, Poulsson said that unless IMO makes significant progress the industry could be vulnerable to regional action, not only from the EU – which is considering incorporating shipping into the EU Emissions Trading System – but also from Canada or California, which have already introduced carbon pricing.
US Detains 2 Panama-flagged Bulkers
Two Panama-flagged bulk carriers were detained in the U.S. on February 23, 2017, after substandard safety issues discovered during routine exams aboard the vessels along the Columbia and Willamette Rivers. The Atlantic Ruby, a 590-foot bulk carrier was boarded in Portland on February 23, after Port State Control Officers detected the SOLAS deficiencies. U.S. Coast Guard inspectors found the fixed fire extinguishing system was improperly serviced, with the time delays left disconnected. The time delay ensures personnel inside a room are able to escape before the fixed fire extinguishing agent is released. A separate Port State Control exam conducted in Kalama onboard the Amber L, a 609-foot bulk carrier, identified several safety discrepancies.
Asia Tankers-VLCC Rates to Slide Further
Around 30 VLCC charters in Feb so far, versus 50 last month. About 40 refinery facilities to close for maintenance. Freight rates for very large crude carriers (VLCCs), which fell to multi-week lows on Thursday, could slip further as refinery maintenance in Asia weighs on cargo volumes and chartering activity, brokers said. "The pace of cargoes hitting the market is much slower. This time last month there were 50 VLCC fixtures from the Middle East. There are about 30 now," said Ashok Sharma, managing director of BRS Baxi in Singapore.
Asia-North Europe Box Rates Up 7 pct
Container spot freight rates from Asia to Northern Europe rose 7 percent to $961 per twenty-foot equivalent units (TEU), the Shanghai Containerized Freight Index showed on Friday. Freight rates from Asia to ports in the Mediterranean rose $38 to $882 per TEU Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent. It controls around 20 percent on the world's busiest routes between Asia and Northern Europe Reported by Reuters Copenhagen newsroom
Baltic Index Rises on Broad Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday on stronger demand across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points, or 2.22 percent, at 875 points. The capesize index gained 31 points, or 2.73 percent, to close at 1,165 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $264 at $9,358.
Songa Offshore sees Daewoo Arbitration Lasting into 2018
Rig firm Songa Offshore's CEO Bjoernar Iversen expects the company's arbitration case with DSME (Daewoo Shipbuilding & Marine Engineering) to last throughout 2017 and into 2018. ** Songa received notices of arbitration from DSME in July 2015 ** Claims of $373 million received from DSME in November 2015 for the two rigs Songa Equinox and Songa Endurance ** Songa submitted its response to DSME's claim and a $66 million counterclaim against DSME in March 2016 ** CEO says DSME is responsible for delays and cost overruns on the rigs ** CEO: We believe we have a very, very strong case. Reporting By Ole Petter Skonnord
St. Louis Regional Freightway, New Orleans Port Sign MoU
The Board of Commissioners of the Port of New Orleans and the St. Louis Regional Freightway today entered into a Memorandum of Understanding (MOU) to exchange market and operational information with the goal of growing trade and building upon existing and new business relationships between the two regions and critical ports. The agreement also calls for joint marketing efforts to meet those objectives. The MOU is the culmination of discussions begun during a September 2016 visit to St. Louis by top officials for the Port of New Orleans.
Aussie Navy Trains to fight
More than 17 ships and aircraft are descending on the Western Australian coast for one of the largest maritime warfare exercises held by the Royal Australian Navy. The inaugural Exercise Ocean Explorer will include international participants, adding the opportunity to practice war fighting with language, customs and technology differences. The Spanish Armada’s ESPS Cristobal Colon, New Zealand’s HMNZ Ships Te Kaha and Endeavour and, for a brief period, Italian frigate ITS Caribiniere will all integrate into the Australian scenarios.
Austal completes DDR for Pacific Patrol Boat Replacement Project
Austal has successfully completed the Detailed Design Review (DDR) for the A$306 million Pacific Patrol Boat Replacement (PPB-R) Project on time and in accordance with the contracted schedule. A key element of the Commonwealth’s continuous naval shipbuilding strategy, the PPB-R Project is contributing to the growth of Australia’s sovereign shipbuilding capability in the lead up to the Offshore Patrol Vessel and Future Frigate programs for the Royal Australian Navy, due to commence in 2018 and 2020, respectively.
MOL Invests in Self-Elevating Platform Vessel Operator
Mitsui O.S.K. Lines, Ltd. today announced a plan to acquire a 5% share in Seajacks International Limited (Seajacks) Group, which owns and operates five Self-Elevating Platform vessels(*1), from Marubeni Corporation. This is a new offshore business for MOL, following FPSO(*2), FSRU (*3), shuttle tanker (*4), and subsea support vessel (*5). It is also the first step to move into the renewable energy business field through involvement in installation of offshore wind power generation systems, which is expanding in Europe and other areas around the world.
Teekay Offshore Sees Profit Drop
Teekay Offshore Partners has reported GAAP net income attributable to the partners and preferred unitholders of $92.0 million and adjusted net income attributable to the partners and preferred unitholders of $8.5 million in the fourth quarter of 2016. Teekay Offshore has generated GAAP income from vessel operations of $56.5 million and $230.9 million, respectively, and total cash flow from vessel operations(1) of $134.8 million and $584.3 million, respectively, in the fourth quarter and fiscal year 2016.
Safe Bulkers Reports 4Q Loss
Greece-based Safe Bulkers (SB) has reported a loss of $4.6 million in its fourth quarter. On a per-share basis, it has a loss of 9 cents. Net revenues for the fourth quarter of 2016 increased by 6% to $31.7 million from $29.9 million during the same period in 2015. For the year, the company reported that its loss narrowed to $56 million, or 83 cents per share. Revenue was reported as $109.8 million. Net revenues for the twelve months of 2016 decreased by 14% to $109.8 million as compared to $127.3 million during the same period in 2015. Dr.
Teekay LNG Reports Profit in 4Q
Teekay LNG Partners has reported GAAP net income attributable to the partners and preferred unitholders of $84.4 million and adjusted net income attributable to the partners and preferred unitholders of $29.0 million in the fourth quarter of 2016. “During the fourth quarter, the partnership continued to generate stable cash flows supported by a diversified portfolio of long-term contracts totaling approximately USD 12 billion in forward, contracted revenue and with a weighted average remaining contract length of 13 years,” Mark Kremin, President and CEO of Teekay Gas Group, noted.
Nordic American Offshore Announces Public Offering
Nordic American Offshore (NAO) has announced an underwritten public offering of 33,333,333 common shares pursuant to the Company’s effective shelf registration statement. Morgan Stanley & Co. LLC, DNB Markets, Inc. and Skandinaviska Enskilda Banken AB (publ) are acting as joint bookrunning managers for the offering. The Company also intends to grant the underwriters a 30-day option to purchase 5,000,000 additional common shares. At the Company’s request, the underwriters have…
ABS Takes the Lead as First Class Society to Earn EU MRV Accreditation
ABS, a leading provider of classification and technical services to the marine and offshore industries, was awarded accreditation by Greece’s National Accreditation Body, the Hellenic Accreditation System (ESYD), to perform assessments for European Union (EU) Monitoring, Reporting and Verification (MRV) compliance. “We are proud to be the first class society accredited to perform EU MRV assessments,” says ABS Chairman, President and CEO Christopher J. Wiernicki. In recent years…
ABS Earns EU MRV Accreditation
Greece’s National Accreditation Body recognizes ABS as EU MRV frontrunner. ABS said it was awarded accreditation by Greece’s National Accreditation Body, the Hellenic Accreditation System (ESYD), to perform assessments for European Union (EU) Monitoring, Reporting and Verification (MRV) compliance. “We are proud to be the first Class Society accredited to perform EU MRV assessments,” said ABS Chairman, President and CEO Christopher J. Wiernicki. In recent years, greenhouse gas…
Damaged Tug Heads to Seattle for Repair
The U.S. Coast Guard said it has green lighted a transit plan for the damaged tug Samson Mariner to head south from Ketchikan, Alaska for repairs in Seattle. The vessel departed on Tuesday accompanied by an escort tug. Samson Mariner was damaged and spilled approximately 1,100 gallons of fuel when it ran aground on February 15 while towing a barge near Rosa Reef in north Tongass Narrows, Alaska. No sheen or further pollution has been reported. The barge, St Elias, received temporary repairs in Ketchikan. The Coast Guard approved a plan for a tug owned by Brusco Tug & Barge Co to tow St Elias and continue to Dutch Harbor. Permanent repairs will be made when St Elias returns to Seattle.
Egypt Rejects Russian Wheat Cargo
Egypt has finalised its rejection of 18,000 metric tons of Russian wheat that prosecutors seized at an Alexandria port in November, traders with direct knowledge of the matter said on Thursday. Egyptian prosecutors had seized the wheat from a storage site belonging to a private company in Dekheila port after finding it unsuitable for human consumption. Cairo-based traders told Reuters in November the shipment was seized after large numbers of insects were found in the storage site. The shipment will now be re-exported, the traders said on Thursday. Russia's agriculture safety watchdog had said in January the shipment could be released after fumigation to get rid of pests. (Reporting by Maha El Dahan and Eric Knecht)
Dry Bulk Back from the Brink
While the tanker industry worries about OPEC reducing output and the container industry rushes to consolidate, dry bulk values have been quietly increasing. VesselsValue senior analyst William Bennett digs through the data to uncover the reasons why. Bulker values in the last 12 months have hit rock bottom and are now looking to show considerable promise. Five-year-old handysize values are up by over 40 percent; as are 15-year-old Panamax and Supramax asset prices. Pre-2002 built Capes are up by around 35 percent since February 2016.
Vitol buys Angola LNG Shipment
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
Transas, Japan Radio Company Announce Strategic Partnership
The strategic partnership will drive growth and accelerate innovation. Industry-leading solutions and services capabilities will deliver differentiated customer value. Transas, the innovative, digital solutions company, and Japan Radio Company (JRC), a leading global marine electronics company, today announced their new strategic partnership. The two industry-leading companies will work together in research and development, product distribution and project collaboration. The technical…
APL launches Day-Definite Cargo Arrival with Eagle Guaranteed
APL today announced the launch of Eagle Guaranteed, a promise of day-definite arrival of shipment on the Eagle Express (EX1) service via the Global Gateway South (GGS) Terminal in Los Angeles to the rail yards of Chicago, Columbus, Dallas, El Paso, Kansas City and Memphis in the Americas. With the specific arrival date for the designated inland destinations set upon booking with APL, shippers are offered a solution to best manage their supply chain cycle. “APL is excited to introduce Eagle Guaranteed as one of our value-added services.
Higher profits for Transocean
Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results. * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters. * Adjusted net income was $239 million, $0.63 per diluted share, excluding $13 million of net unfavorable items. * Contract backlog was $11.3 billion as of the February 2017 Fleet Status Report. ZUG, SWITZERLAND-February 23, 2017-Transocean Ltd. (NYSE: RIG) today reported net income attributable to controlling interest of $226 million…
MES Delivers 66,000 DWT Bulk Carrier
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,000 dwt type bulk carrier M.V. "INDIGO BREEZE" (MES Hull No. 1926) at its Tamano Works on 22nd February, 2017 to ARIST MARITIME S.A., the Republic of Panama. This is the 22nd ship of our “neo60BC”, the third Eco-Ship line up of our “neo series”. Service Speed abt. * The vessel has four (4) cranes and five (5) cargo holds, and keeps the superior usability of “Mitsui 56”. * The vessel achieves over 60,000 deadweight with Panamax beam and keeps our neo56’s compatibility for ports and trade routes.
APM Terminals Boosts Investment in Port Elizabeth
APM Terminals has significantly increased its previously announced USD $70 million investment plans for the APM Terminals Port Elizabeth facility, and now plans an investment total of USD $200 million. This figure includes ordering four next-generation Ship-To-Shore (STS) cranes to handle ultra-large container ships (ULCS) at North America’s second-busiest port complex. These vessels are expected to start calling the port right after the heightening of the Bayonne Bridge is completed later this year.
RIBCRAFT Delivers Patrol Boat in NC
Rigid inflatable boat (RIB) manufacturer RIBCRAFT has delivered a RIBCRAFT 6.5 to the Pender County Sheriff. Located on the Atlantic Ocean in the southeastern part of North Carolina, Pender County Sheriff formed a joint venture with the County Rescue Squad to provide on water enforcement and rescue operations seven days a week during the summer months. The 21’ RIBCRAFT meets the county’s multifunctional requirements and expands its on water response capabilities. RIBCRAFT worked…
ACO Claimers Delivered for Installation on Nibulon Tugs
ACO Marine has delivered three of its smallest Clarimar wastewater treatment units to Ukraine-based Nibulon Shipbuilding and Repair Yard for installation aboard a series of high specification project tugs. Nibulon, Ukraine’s leading exporter of agricultural products, grains and fertilizers with a history dating back to the nineteenth century, entered the shipbuilding and repair sector in 2012, following the acquisition and development of a yard on the Southern Bug River, near the company’s trans-shipment terminal, in Mykolayiv.
Novatek Says No Need to Borrow More for Yamal LNG Project
Russia's largest private gas producer Novatek has no need to increase borrowing as it has sufficient funds for investments into its Yamal LNG project, the company's management said on Wednesday. At a conference call with analysts, Novatek's chief executive Leonid Mikhelson said his company has already invested $22 billion in Yamal LNG after securing borrowing on both global and domestic markets. He said Yamal LNG, a project to build Russia's second gas liquefaction plant, will receive another $6 billion in investment this year. Novatek's chief financial officer Mark Gyetvay, who was on the same call, said that the overall capital investment of Novatek is seen at 40 billion roubles ($689.42 million) in 2017. (Reporting by Denis Pinchuk; Writing by Andrey Ostroukh)
ABB’s OCTOPUS for Greenland Heavylift Newbuilds
ABB’s OCTOPUS marine software was chosen for four new semi-submersible heavy lift vessels currently under construction at CSBC Corporation in Taiwan, with the first expected to go into service in 2017. The ships, owned by Greenland Heavylift Holdings, will transport gigantic cargoes such as oil rigs and jack-up rigs, with OCTOPUS providing a tailored route for each voyage that is updated with fresh weather data throughout the transportation. OCTOPUS is a vessel management software platform enabling ship owners to choose the modules most relevant to their operations.
INS Sunayna Enters Abu Dhabi
The Indian Naval Offshore Patrol Vessel INS Sunayna, a state-of-the-art front line platform of the Indian Navy is on an Overseas Deployment to Abu Dhabi to participate in the International Defence Expo 2017 (IDEX 17) and Naval Defence and Maritime Security Exhibition 2017 (NAVDEX 17) in Abu Dhabi (United Arab Emirates). The ship entered Mina Zayad port, Abu Dhabi, United Arab Emirates on 18th Feburary 2017. INS Sunayna will be participating in various events as part of IDEX 17…
Malaysian Educators on Course for Energy-Efficient Shipping
An International Maritime Organization (IMO) workshop is training Malaysia’s maritime educators to introduce the topic of energy-efficient ship operation into their teaching curriculums. The workshop, taking place in Kuala Lumpur (20-21 February), was developed under IMO’s GloMEEP project and supports maritime training institutes to deliver the IMO Model Course 4.05 to seafarers. The course consists of a series of lectures, interactive exercises and videos to enhance the learning experience and ensure crews are adequately trained to contribute to efficient shipping.
Containership Deliveries: Turning A Corner?
Containership deliveries changed course in 2016, toppling from the record level of 1.7m TEU in 2015 to reach just 0.9m TEU, having previously increased each year between 2011 and 2015, says a report from Clarkson Research Services. If deliveries remain at these slightly more moderate levels in coming years, this could potentially herald a new era of less robust fleet growth in the boxship sector. The dramatic slowdown in boxship deliveries last year, alongside record levels of demolition, led to fleet growth of just 1.2% in 2016, down from 8.1% in 2015.
Saudi Aramco Selects Lead Underwriters for $100 Bln IPO
Oil giant Saudi Aramco has selected JPMorgan Chase & Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Saudi Arabian Oil Co, known as Saudi Aramco, was not immediately available for comment. Saudi authorities are aiming to list up to 5 percent of the world's largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100 billion. The listing is the centerpiece of a Saudi Arabian government plan to transform the kingdom by enticing investment and diversifying the economy away from reliance on oil.
Cammell Laird Launches Claire House Charity Kite Boat
Merseyside shipyard and engineering company Cammell Laird held a special ceremony to launch a unique kite boat designed to raise funds for charity Claire House Children’s Hospice. The ‘CL Challenger’ was designed by retired shipyard naval architect Bill Owen incorporating a kite as the main power source to propel the vessel. The eco-friendly vessel also generates electric power for radio, lights and GPS through batteries charged via solar panel. It will now be used by a team of intrepid kite surfers for a range of sea-faring challenges to raise vital cash for the Bebington children’s charity.
ABS Issues First Cyber Safety Notation
ABS said it has issued its first notation for the ABS Guide for Cybersecurity Implementation for the marine and offshore Industries. “The focus on cyber safety is increasing, and that is changing the expectations industry has for classification services,” explained ABS Chairman, President and CEO, Christopher J. The ABS CyberSafety program is aimed at mitigating the risk of cybersecurity-related conditions or incidents that could negatively affect operations. Awarding the CS1 notation (Asset…
McDermott Acquires New Pipelay and Construction Vessel
McDermott International, Inc. announced it has acquired the newly built pipelay and construction vessel Amazon to better position the company for ultradeepwater and SURF projects. McDermott plans to upgrade the vessel to address the ultradeepwater market with a state-of-the-art J-lay system outfitted with the latest vessel technology. In the near term, the company plans to make minor capital expenditure investments to bring the vessel up to company standards. As McDermott finalizes its upgrade plans, the company plans to use the vessel on existing construction and pipelay projects.
Top 10 Maritime Nations: Ranked by Value
The March 2017 edition of Maritime Reporter & Engineering News focuses on SINGAPORE, as this maritime powerhouse struggles to maintain balance and influence through the offshore oil and gas downturn. Looking at the "Top 10 Nations" ranked by value from VesselsValue.com, Singapore ranks #5 with 2,662 vessels, comprising 64.03 million GT and a $41.7 billion valuation, just behind the United States at #4 (2,399 vessels, 55.92m GT, $46.5 billion valuation).
Mississippi Ports Eye Cuba, Ink Pacts in Havana
The Mississippi ports of Pascagoula and Gulfport signed agreements in Cuba on Monday with an eye to future business and with a Republican U.S. senator from the state looking on, despite concerns President Donald Trump might backtrack on improved relations. Senator Thad Cochran is the only Republican among five U.S. senators and a U.S. representative on a three-day visit to the Communist-run Caribbean island to discuss relations and explore business opportunities. The agreements were signed during a business forum to explore future trade attended by Cochran. “There is great potential for business between these ports and Cuba due to the geographical proximity and the excellent fluvial and maritime ways Mississippi has…
EU to rule on Maersk-Hamburg Sud Deal by March 27
EU antitrust regulators will decide by March 27 whether to clear world No. 1 shipping company Maersk Line's bid for German rival Hamburg Sud, its first major deal for more than a decade. The deal, one of several in a sector seeking consolidation to offset low freight rates and oversupply, was filed to the European Commission on Feb. 20, according to the EU executive's website on Tuesday. The EU competition enforcer can extend its review by about two weeks if Maersk offers concessions to address regulatory concerns, or it can open a five-month investigation. Copenhagen-based Maersk may have to pull out from some shipping alliances to gain EU approval, following in the footsteps of rivals, which offered such concessions to regulators in recent deals.
DP World Cleared of Misconduct over Djibouti Terminal
The London Court of International Arbitration has cleared DP World, one of the world's biggest port operators, of all charges of misconduct over a concession to operate a container terminal in Djibouti, Dubai's government said on Tuesday. In 2014 the government of the East African country lodged claims accusing DP World, majority-owned by the Dubai government, of illegal payments to secure a 50-year concession for the Doraleh Container Terminal, the Dubai government said. On Tuesday the court dismissed the claims and ordered the claimants to bear the costs of the arbitration, Dubai said.
Nakilat Profit slips
Nakilat announced its financial results for the year ended 31 December 2016, with a net profit of QR 955 million achieved compared to QR 984 million in 2015. The earnings per share attained in 2016 was QR 1.72 compared to QR 1.77 in the same period last year. The Board of Directors has decided to convene the ordinary general assembly on Sunday March 12th, 2017. Nakilat’s Board of Directors commended the company’s resilient financial results despite the challenging market conditions, which clearly reflects the strength and stability of the company’s commercial position. Nakilat’s long-term contracts continue to underpin the company’s strongfinancial performance.
Taylor to head Trojan Battery's Global Workforce
Trojan Battery Co., LLC, the world’s leading manufacturer of deep-cycle batteries, has named Phillip Taylor as senior vice president, and chief human resources (HR) officer to lead the company’s global workforce of more than 1,000 employees. Taylor brings over 30 years of experience to this position, which includes his most recent tenure at legendary toy maker Mattel, Inc. Battery. Taylor is responsible for the development of corporate HR strategies for Trojan’s worldwide operations in the areas of recruitment, compensation, benefits, performance management and organizational development for the company. While at Mattel, Taylor served as senior vice president of HR for the commercial and corporate divisions.
Norwegian Authority Objects Eimskip's Acquisition of Nor Lines
The Norwegian Competition Authority has today given a notice of an objection to Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS. The notice reflects the Authority's preliminary conclusion, and Eimskip has 15 business days to present counterarguments. A final decision will be made by the Authority after another 15 business days. Eimskip is evaluating next steps with its legal advisors. In last November, Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines.
Hyundai Global Services Enters into Eco-friendly Ship Services Business with KSS Line
Hyundai Global Services (HGS), Hyundai Heavy Industries’ (HHI) newly spun-off company specializing in providing total marine services announced today it signed an MOU with KSS Line, a Korean shipping company, for entering into eco-friendly ship business. Under the MOU, two companies join forces to retrofit the medium-sized LPG carriers owned by KSS Line with Exhaust Gas Cleaning System. Ships equipped with the cleaning system will be able to meet the IMO’s sulfur emission cap of 0.5% even with bunker-c oil, cheaper than marine gas oil, and thus will significantly be able to lower fuel costs.
ECSA Takes Stand in GHG Emissions of Shipping
European Community Shipowners’ Associations (ECSA) regrets that European port and cargo interests have come out in favour of the European Parliament’s position to conditionally include shipping in the EU Emission Trading Scheme as of 2023 if the International Maritime Organisation does not have a comparable system operating by 2021. European port and freight forwarder associations did confirm that a global agreement is their preferred option to curb greenhouse gas emissions of ships.
Simrad Yachting:Yamaha Command Link Plus Integration
Simrad Yachting announced today an agreement with Yamaha to integrate the Command Link plus interface into Simrad systems. The Yamaha Command Link Plus system allows boaters to monitor the performance of up to four amaha outboard engines and critical boat systems on the same screen. The integration gives boaters the capability to monitor that data directly from select Simrad displays. “Our agreement with Yamaha creates another valuable integration option for Simrad customers,” said Leif Ottosson, CEO, Navico.
Fincantieri, Ferretti Group join forces
Fincantieri and Ferretti Group today announced they have signed a wide-ranging co-operation agreement , with the aim of developing industrial and commercial synergies between the world's two leading Italian companies in their respective sectors. The announcement was made during the show IDEX-NAVDEX of Abu Dhabi , one of the most important international exhibitions dedicated to the defense and security sector. The MoU refers to both the defense and security sector and to the yacht building. In both sectors the skills and expertise of the two great Italian groups are complementary and synergistic and understanding of collaboration opens up many possible scenarios.
IRClass Appointed RO for Iran; opens office in Tehran
Indian Register of Shipping (IRClass) has received authorisation as a Recognised Organisation from Iran’s maritime administration – Ports and Maritime Organization (PMO). Strengthening its presence further in the Middle East, IRClass has also set up an office in Tehran to offer its services to the Iranian maritime sector. This move is the latest in a series of steps taken by IRClass to enhance its global footprint. The RO agreement was signed on Sunday, 5th February 2017 at a ceremony held in Tehran, Iran by Mr.
Tanker Market Facing Test
The tanker market has certainly had some tumultuous times of late, points out a report by Clarksons Research. Crude tanker earnings picked up in 2014, averaging nearly $27,000/day, and surged to an annual average of around $50,000/day in 2015. Things started to cool off into 2016, but in the full year average earnings were still fairly healthy at just under $30,000/day. They say two’s company; and these positive conditions did seem to have been brought about by the fortuitous lining up of two key factors.
Focus on Sustainable Use of the Oceans
Preparations are underway in New York ahead of June’s UN Oceans Conference, which is focused on achieving UN Sustainable Development Goal 14: ‘Life Below Water’. An estimated 40% of the world’s oceans are being badly affected by unsustainable practices. Goal 14 aims to conserve and sustainably use the oceans, seas and marine resources for sustainable development. International Maritime Organization (IMO) supports this objective by setting global standards designed to ensure shipping does not adversely impact the environment…
HMM Acquires Four Terminals From Bankrupted Hanjin
Hyundai Merchant Marine (HMM) announced that it has entered into a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake in terminals in Tokyo and Kaohsiung. Hanjin Pacific Corporation (HPC) which is owned by Hanjin Shipping (60%) and Marine Terminals Investment Limited (40%) operates terminals at ports in Japan (Tokyo) and Taiwan (Kaohsiung). Total acquisition price is about KRW 15 billion ($13.15 million) including a purchase and security deposit on the lease of the Tokyo port.
US Aircraft Carrier Strike Group Begins Patrols in South China Sea
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.
Color Line, Ulstein ink hybrid vessel Deal
It has now been decided that Ulstein Verft will be constructing Color Line’s new hybrid vessel. The environmentally sound ship will be servicing Sandefjord – Strømstad from summer 2019. Ulstein won the contract in competition with several other yards. “It is very gratifying that the Norwegian shipbuilding industry has proven its competitiveness internationally, and that Color Line contributes to the further development of the Norwegian maritime industry,” says CEO Trond Kleivdal at Color Line.
Carrier Strike Group 1 Conducts South China Sea Patrol
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.
GOST Debuts Security Technology at Miami Boat Show
GOST (Global Ocean Security Technologies), a world leader in marine security, tracking, monitoring and video surveillance systems, announced today that it will highlight its newest marine products at the 2017 Miami International Boat Show at the Miami Marine Stadium Park & Basin. GOST is located in Booth C368. “The Miami International Boat Show is always a great experience for us,” said Jay Keenan, president and CEO, GOST. “The show provides an incredible opportunity to meet with our customers and explain our latest innovations.
Nb. 434 to be christened ‘Symphony Provider
On Thursday the 9th of March, 11.00 hrs Nb. 434 will be christened as ‘Symphony Provider’. She is the second in a series of two ECOBOX DP2 vessels that will be delivered to Symphony Shipping. As add-on compared to the already delivered ECOBOX design, these ships are equipped with a DP2 (Dynamic Positioning) system which keeps the vessel within an exact position or heading limits, even in the most severe wind and wave conditions. Main dimensions (Loa X B X T) 125 X 18.0 X 7.8 mtr. Propulsion system for DP2 operation with abt. ERN=92 performance.
Shipbuilder HII Declares Quarterly Dividend
Huntington Ingalls Industries announced today that its Board of Directors has declared a quarterly cash dividend of $0.60 per share, payable on March 10, 2017, to shareholders of record as of the close of business on March 3, 2017. Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder.
Aframaxes Taken for Short-term Time Charters in Asia
The Asian Aframax market is currently stable but seems to be facing a more positive outlook on the back of short-term time charters as well as an increase in third decade cargoes. Rates for an Indonesia/Japan run basis 80 kt are hovering around w100 to w102.5, while rates for the AG/East route basis 80 kt stand at w115. Reflecting firmer owner sentiment, TD14 inched up steadily w-o-w to w100.78 which translates into daily earnings of around $8,700/day. At least three Aframaxes…
Tug Grounding Causes Fuel Spill in Alaska
Emergency personnel continue their response to the tug boat Samson Mariner which ran aground and spilled fuel while towing a barge in the vicinity of Rosa Reef in north Tongass Narrows, Alaska, Wednesday evening. Approximately 1,100 gallons of diesel spilled from the tug prior to being patched by Alaska Commercial Divers Wednesday night. The Samson Mariner has been refloated and is anchored in Ward Cove alongside the barge it was towing. A Coast Guard Air Station Sitka MH-60 Jayhawk helicopter crew conducted an overflight with Coast Guard Marine Safety Detachment Ketchikan personnel aboard to determine the extent of any possible sheen or environmental impacts. A sheen has been reported in the area and SEAPRO has been tasked with fuel containment and recovery using boom and absorbent pads.
Arctic and Antarctic Sea Ice at Record Low in January
The extent of sea ice in the Arctic and Antarctic last month was the lowest on record for January, the U.N. World Meteorological Organization said on Friday, while concentrations of carbon dioxide in the atmosphere hit a January record. "The missing ice in both poles has been quite extraordinary," David Carlson, director of the World Climate Research Programme, told a U.N. briefing in Geneva. "It is a quite strange situation. The month of January was probably the second or third hottest such month on record, but that was not a reliable indicator of the state of the climate, he said.
Containership Fire Extinguished in South Africa
The joint effort undertaken by a Disaster Management team at the Port of Ngqura has helped to avert a potential maritime disaster and ultimately saved the container vessel APL Austria, which caught fire last weekend. Transnet National Ports Authority, Transnet Port Terminals, the Nelson Mandela Metropolitan Fire Department, South African Maritime Safety Authority (SAMSA), South African Police Services (SAPS), National Sea Rescue Institute (NSRI) and a stevedoring company, worked together to battle the blaze, and the fire was eventually extinguished on Wednesday, February 15.
World’s Largest Plug-in Hybrid Vessel Ordered
Color Line and Ulstein sign a firm contract on construction of the world’s largest plug-in hybrid vessel. Ulstein said it has won a contract to build Color Line’s new hybrid passenger vessel to service Sandefjord – Strømstad from summer 2019. The ship will be constructed at Ulstein Verft in Norway. “It is very gratifying that the Norwegian shipbuilding industry has proven its competitiveness internationally, and that Color Line contributes to the further development of the Norwegian maritime industry,” said CEO Trond Kleivdal at Color Line.
Iraq Plans to Acquire "Large Fleet" of Oil Tankers
Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi said in a statement on Friday. The nation's tanker fleet was largely destroyed during the U.S.-led offensive to dislodge Iraq from Kuwait in 1991, according to the state-run Iraqi Oil Tankers Company's website. The company owned as many as 24 tankers in the 1980s. "The ministry is keen to restructure the company and develop its operations by building and buying a large fleet of tankers," Luaibi told the company's management, according to the statement.
S.Korea Court Declares Hanjin Bankrupt
A South Korean court declared Hanjin Shipping Co Ltd bankrupt on Friday, after ruling earlier this month that the firm's liquidation value would be worth more than its value as a going concern. Hanjin Shipping, which had been the world's seventh-largest container shipper, applied for court receivership in late August after its creditor banks halted further support. The Seoul Central District Court said in a statement it has chosen a bankruptcy administrator, and claims by creditors are due by May 1, 2017. The first meeting of creditors will be held on June 1, 2017.
France: STX France talks with Fincantieri to Continue
French industry minister Christophe Sirugue said he would meet Italy's Fincantieri in a week's time to discuss its bid for STX France, but added France was still against Fincantieri gaining dominance in the governance of STX France. "Our position is that we do not want Fincantieri to be the sole majority shareholder in the governance of Saint-Nazaire shipyards," Sirugue told Reuters on Friday, speaking on the sidelines of a news conference in Paris. "We continue to work with Fincantieri and we will probably have to meet again in a week's time".
SSBN Launches Fleet Ballistic Missiles
An Ohio-class ballistic missile submarine assigned to Submarine Group 9 completed a Follow-on Commander's Evaluation Test (FCET) Feb. 16, resulting in four successful test flights of Trident II D5 missiles. Designated FCET-53, the operation spanned a three-day period. The primary objective of an FCET is to obtain, under operationally representative conditions, valid reliability, accuracy, and performance of the missile system for use by Commander, Strategic Command and the Joint Chiefs of Staff. Safety of the public was paramount throughout the mission.
30 Kalmar Hybrid Shuttle Carriers for APM Terminals Tangier
Kalmar, part of Cargotec, has signed a contract with APM Terminals to deliver 30 Kalmar Hybrid Shuttle Carriers with high level of automation readiness as well as the related service and support to the customer's MedPort Terminal in Tangier, Marocco. The order was booked into Cargotec's 2016 fourth quarter order intake and the delivery is estimated to be completed by the end of 2018. This is Kalmar's biggest single order for horizontal transportation to date. The Tangier-Med 2 port is a greenfield transshipment terminal that is scheduled to be opened in 2019.
Odfjell Returns to Profit
Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened. For the full year, Odfjell reports net results of USD 100 million, compared with net results of USD -36 million in 2015, and improved full year EBITDA to USD 238 million, from USD 190 million in 2015. The Q4 results show stable underlying operational performance…
Diana Shipping Extends Time Charter Contract for M/v Houston
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with SwissMarine Services, Geneva, for one of its Capesize dry bulk vessels, the m/v Houston, for a period of about thirteen (13) months to maximum fifteen (15) months. The gross charter rate is US$5,150 per day for the first fifteen (15) days of the charter period and US$10,000 per day for the balance period of the time charter, in each case minus a 5% commission paid to third parties. The new charter period is expected to commence today (February 17).
Euroseas Reports Q4 Loss
Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, reported a total net revenues of $7.3 million for the three month period ended December 31, 2016. Net loss attributable to common shareholders of $18.1 million or $2.17 loss per share basic and diluted. This loss includes, amongst other items, a $0.4 million of dividend on Series B Preferred Shares, a $5.9 million loss on write-down of M/V Eleni which was held for sale…
IMO Training in Malaysia
An International Maritime Organization (IMO) training in Malaysia has seen port State control officers practice inspecting air pollution and energy efficiency rules aboard a container ship in Johor Port. The participants from across Malaysia have been taking part in the three-day workshop (13-15 February) focusing on how to effectively enforce IMO’s MARPOL Annex VI regulations. The interactive workshop included class-based lectures and exercises, as well as practical training on board…
Austal Celebrates Christening Of Future USS Tulsa
Austal Limited has announced that Austal USA has hosted the christening of the future USS Tulsa, the 8th Independence variant Littoral Combat Ship (LCS) designed and constructed for the United States Navy (USN). Former Mayor of Tulsa and current Chief of Economic Development for the Oklahoma city, Mrs Kathy Taylor formally christened USS Tulsa at a formal ceremony held at Austal USA’s Mobile, Alabama shipyard. In addition to the USS Independence (LCS 2) and Coronado (LCS 4), Austal USA is delivering 11 Independence variant LCS to the USN, under a contract valued at approximately US$4 billion.
CWind Invests in Largest Crew Transfer Vessel to Date
CWind, a provider of services to the offshore wind industry, has announced that it has invested in the company’s largest crew transfer vessel to date. Newly named as CWind Phantom, the 27.4m catamaran can hold 20,000 litres of fuel and has a 20 ton cargo capacity, making her suitable for longer stretches of work at wind farms located further from shore. This investment demonstrates the company’s ability to evolve with the changing market. CWind’s fleet now totals 18, with access to additional cable installation and maintenance vessels via CWind’s parent company, Global Marine Systems Limited.
Boxship Firms Sign up with Alibaba
Two container shipping lines, France's CMA CGM and Israel's Zim, have signed up with Alibaba to allow customers to book space on their vessels through the Chinese e-commerce giant, in a bid to boost sales as the sector battles a severe downturn. Container lines, facing their worst ever downturn due to a glut of ships and weaker demand, are pursuing several measures such as vessel-sharing arrangements or mergers and acquisitions to ride out the current slump. A growing number of logistics firms are going online to buoy their business.
INTERTANKO Pans EU ETS Shipping Vote
By majority vote, the Members of the European Parliament have agreed to include shipping in the European Emission Trading Scheme (ETS) Directive as of 2023, unless there is a comparable system agreed under the auspices of the International Maritime Organisation (IMO) by the end of 2021. “INTERTANKO and its Members consider the EU Parliament’s ambition as totally counter-productive,” said INTERTANKO Technical Director Dragos Rauta. The EU Parliament’s move could be perceived as “urging” IMO to accelerate its rule development.
Oversupply Pressure on LPG Shipping Rates
The LPG shipping trade will continue to grow at a healthy pace on the back of strong Asian demand, but fleet growth will outpace it, keeping rates under pressure in 2017, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry. 2016 was a tough year for LPG shipping with rates coming under pressure across all size segments. 2017 is expected to be no different with the fleet set to grow by another 16%, on top of the 17% expansion seen last year.
The Offshore Markets: 2016 In Review
Expectations at the start of the year that 2016 would be a tough one for the oil industry, and in particular for offshore, were on the whole fulfilled, says Clarksons Research report. Overall upstream E&P spending globally fell for the second successive year, and was down by in the region of 27% year-on-year in 2016. Cost-cutting has been a key focus, whether that be through pressure on the supply chain, M&A activity, job cuts or other means. Overall upstream E&P spending globally fell for the second successive year, and was down by in the region of 27% year-on-year in 2016. Cost-cutting has been a key focus, whether that be through pressure on the supply chain, M&A activity, job cuts or other means.
Green Bay, Royal Thai Navy Kick Off Cobra Gold 2017
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.
EU Votes for Deadline for Shipping Emission
The European Parliament voted in favour of the inclusion of CO2 emissions from shipping in the EU Emission Trading Scheme (ETS) and the establishment of a maritime climate fund “in the absence of progress at international level” as from 2023. Climate change being a global challenge and shipping being a global industry, ESPO strongly believes that IMO is by far the right place to introduce CO2 target and measures to reduce emissions from shipping in line with the Paris Agreement.
Spanish Stevedores Cancel Planned Strike
Spanish dock workers on Wednesday called off a planned three-day strike next week after the government said it would delay plans to reform the sector and instead open talks with the unions. The standstill was due to take place every other hour on Feb. 20, 22 and 24 at dozens of Spanish ports which employ more than 6,000 stevedores and handle an estimated 500 million tonnes of merchandise a year. The strike was called after the Spanish government announced plans to overhaul the way ports are managed and allow companies to hire their own personnel instead of unionised staff. Export chains in Spain, especially the car industry, would face a major disruption if a strike of three days or more was to be held. Reporting by Julien Toyer
Commercial Sea Training Resumes for USMMA Cadets
The United States Merchant Marine Academy (USMMA) has announced that Sea Year training for USMMA Midshipmen will resume on three commercial carriers beginning in March 2017. The reinstatement of the program follows the implementation of comprehensive new policies, including a zero tolerance policy for sexual assault and sexual harassment to ensure that the Academy’s standards for behavior, leadership and integrity are upheld. “I commend the maritime industry’s efforts to combat sexual assault…
Shipping Industry Calls for Exemption from EU Carbon Market Reform
The global shipping industry has urged the European Union to drop the sector's inclusion in proposals adopted on Wednesday to reform the bloc's carbon market, saying it risks distorting trade and international efforts to cut the sector's emissions. About 90 percent of world trade is transported by sea, with shipping accounting for an estimated 2.2 percent of global carbon dioxide (CO2) emissions and forecast to rise dramatically unless action is taken. The draft reforms of the EU's carbon market post-2020 that were adopted by the European Parliament on Wednesday could result in emissions from the shipping sector being included in the bloc’s emissions trading system (ETS) for the first time.
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…