Refining Capacity Growth to Exceed Demand Until 2020 -Forecast
Until 2020, global refining will move toward lower utilization and margins as capacity growth exceeds demand, according to energy industry data and analytics specialist McKinsey Energy Insights (MEI). Post-2020, however, market conditions are expected to improve with higher demand for distillates due to marine pollution (MARPOL) regulations. MEI’s latest Global Downstream Outlook notes the last two years have seen major shifts as a result of falling crude price, a subsequent rise in global product demand and the fuel / oil balance.
Virginia’s FTZ 20 Expansion Approved
Expansion of Virginia’s Foreign-Trade Zone (FTZ 20) into northeast North Carolina was approved by the US Department of Commerce and the decision provides another means of attracting cargo to The Port of Virginia, the port’s CEO says. “This is an incentive that can be used to attract business to the port and investment and jobs to locations within the FTZ,” said John F. Reinhart, CEO an executive director of the Virginia Port Authority (VPA). “The benefits of the FTZ can be significant and this decision opens the door in northeast North Carolina to those benefits.
TEN Announces Four New Time Charter Contracts
Tsakos Energy Navigation Limited (TEN), a leading diversified tanker owner, has announced new time charter contracts for four vessels, an aframax, two panamaxes, and a handysize product tanker, all to major end users. The average contract length of all four fixtures is 14 months which bring the aggregate fleet gross revenues to a minimum of $1.4 billion. "The new time charters increase TEN's fleet under secured revenue employment to 68%. With seven more vessels delivering in 2017, six of which under long term charters, the coverage will well exceed 70%.
Philly Shipyard Delivers APT Tanker
Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc. This delivery is the 25th vessel built by PSI (formerly known as Aker Philadelphia Shipyard, Inc.). The next generation 50,000 dwt product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design that also incorporates numerous fuel efficiency features…
Industry to Prevent Shipping of Counterfeit Goods
Brand owners and representatives from the international shipping industry have joined forces in signing an historic declaration of intent aimed at preventing the maritime transport of counterfeit goods. Leaders from global shipping firms, freight forwarders, brand owners – whose products are counterfeited – and industry organizations, representing both industries signed a joint "Declaration of Intent to Prevent the Maritime Transport of Counterfeit Goods" today in Brussels. It marks the first time the global shipping industry and brand owners have made a public commitment to work together to stop the transport of counterfeit goods on shipping vessels.
ZF Marine Grows Presence in Louisiana
ZF Marine, the marine business unit of the global ZF Group, said it has secured a new location for its Gulf of Mexico/Inland Waterway sales and service operations. The company opened its wholly owned location in the greater New Orleans area in late 1996, the first satellite location outside of ZF’s North American marine headquarters. The location was established to provide close support for the commercial vessel industry in the Gulf of Mexico. Twenty years later, ZF Marine’s growing presence in the Inland Waterway…
Moore Joins AdvanTec Global Innovations
AdvanTec Global Innovations, parent to the Diamond Sea Glaze, Steelhead Marine, Pacific Coast Marine and Freeman Marine Equipment brands, today announced the following business development appointment that will enhance the company’s ability to provide local representation to the marine industry. Charlie Moore assumes the position of Industry Specialist, Cranes/Yacht, with responsibility for business development and growth of the Steelhead and Pacific Coast Marine brands within the marine products portfolio.
Digital Technology Enhances Marine Communications
On a warm summer morning last July, boat owners and passersby were drawn to a craft not often seen in the sleepy harbor of Wickford, Rhode Island. Tied up at the dock was the new, 37-foot, Multi-Mission Interceptor (MMI) recently produced by SAFE Boats International, where it was making a stop along its promotional run down the east coast. The craft features a sleek, state of the art design and is fully equipped with best-of-breed technology and products from a variety leading marine companies…
R.W. Fernstrum: Keeping Things Cool for 67 Years
Founded by Robert W. Fernstrum 67 years ago, R.W. Fernstrum & Company is currently run by its third generation of Fernstrum. This long-tenured maritime staple has seen its fair share of maritime cycles, and in today’s challenging market it is not standing still. The company is digging for, and finding, business in all four corners of the world, above water and below, as Sean Fernstrum, President & owner, and his team explain. “Diversify, diversify, diversify … always,” is the…
Maersk Line to acquire Hamburg Süd
Maersk Line and the Oetker Group have reached an agreement for Maersk Line to acquire Hamburg Süd, the German container shipping line. The acquisition is subject to final agreement and regulatory approvals. Hamburg Süd is the world's seventh largest container shipping line and a leader in the North - South trades. The company operates 130 container vessels with a container capacity of 625,000 TEU (twenty-foot equivalent). It has 5,960 employees in more than 250 offices across the world and market its services through the Hamburg Süd, CCNI (based in Chile) and Aliança (based in Brazil) brands.
APL launches New Zealand Express II Service
APL launched a new weekly service with direct connection between New Zealand and North Asian ports: the New Zealand Express II (NZ2) service. “APL introduced the new NZ2 service to serve the China-New Zealand market in a direct and more efficient way. Compared to transshipment options, the NZ2 service provides our customers with dedicated and faster connectivity between the North Asia and Oceania markets. The direct service will enable businesses to accelerate their products’ speed and access to these markets…
Survitec Group Completes Merger with WMS Safety Business
Survitec Group, a provider of critical safety and survival technology to the marine and defence markets, has announced the completion of its merger with Wilhelmsen’s marine safety business. The deal includes the transfer of all Wilhelmsen Maritime Services AS (WMS)’ safety related systems, products, services and competence to Survitec. The combined business will operate under the name Survitec Group. Survitec Group will have access to a £1.5 billion ($1.9 billion) addressable global market and will have over 3,000 employees in more than 35 countries. The combined group will have a revenue of ~c.£400m and will create value for customers as a result of the cost and revenue synergies and the end-to-end marine safety offering.
Inmarsat Approves Intellian FleetBroadband Terminals for Use with FX
Intellian Technologies informed that it’s FB250R and FB500R FleetBroadband terminals have received final approval from Inmarsat for use with the Fleet Xpress (FX) service and all associated Network Service Devices (NSD). With all approvals now in place, Intellian can offer customers a complete, pre-integrated, pre-tested, turn-key FX hardware package, including FX racks and sourcing of all hardware components. Customers may also create customized configurations of their own. The latest generation FB250R and FB500R FleetBroadband terminals enable professional grade, global communications.
Brunswick Launches Aluminum RHIB Line
At the first day of the International WorkBoat Show in New Orleans, La., Brunswick Commercial & Government Products (BCGP) introduced an 8.5-meter aluminum RHIB. A first of its kind for the Company, the 850 Aluminum Impact RHIB is the introductory model from a line-up that features five variants ranging in size from 7.5-meters to 12-meters. Designed for the commercial and government marketplace, BCGP will market the new line-up to domestic law enforcement agencies as well as militaries worldwide.
Steel Handling Facility for London Thamesport
London Thamesport has signed an agreement with UK shipping agent and logistics company The Armitt Group for a purpose-built, 120,000 square feet specialist steel handling facility at the Kent port. Construction of the first phase of 60,000 square feet is well underway. Once completed, the specialist facility will offer unparalleled multimodal connections for breakbulk cargo handled in the South East of England. The facility will allow the Armitt Group and its customers to take advantage of London Thamesport's deep-water berths and excellent rail and road links to London…
World's Largest Single-deck Log Ship Calls Tacoma
The world’s largest single-deck bulk/log carrier, Olive Bay, arrived Thursday at The Northwest Seaport Alliance’s West Hylebos log terminal in Tacoma. The terminal, operated by Seattle-based Merrill & Ring Forest Products, welcomed Pacific Basin Shipping’s Olive Bay, the largest ship in the Chinese log business to call the West Coast. Built in 2015 specifically to carry logs, the ship is 190 meters long and 32 meters wide. It can hold up to 8 million board-feet of logs, which is significantly more than the 5 million-board-foot capacity of most log ships to call Tacoma.
AME to Showcase Windrock’s New 6400 Diesel Engine Analyzer
For the eighth year in a row Advanced Mechanical Enterprises (AME) will be showcasing at the International WorkBoat Show (IWBS), the largest commercial marine tradeshow in North America serving people and businesses working on the coastal, inland and offshore waters. AME will exhibit an array of services and products they provide and distribute, including Wartsila PSE shaft seals and Envirosafe Composite Bearing material. To coincide with Windrock’s recent launch of their new 6400 Diesel Engine Analyzer, a model will be on display for viewing. Operators, mechanics and engineers worldwide rely on Windrock diagnostic solutions to increase reliability, improve performance and reduce engine failures of diesel engines in industrial applications.
P&O Ferries Chooses GNS Solutions
Ferry company P&O Ferries will take advantage of GNS solutions to deliver purchasing cost efficiencies and simplify navigation management and compliance on board. P&O Ferries, the British ferry company that operates ferries from the U.K. to Ireland and Continental Europe, has selected maritime solutions provider GNS to provide navigation products and services for its fleet of 15 vessels. Under the terms of the agreement, GNS will supply digital and paper navigational products as well as its Voyager software to all P&O vessels for a fixed annual price.
DNV GL On Regulatory Developments and Tanker Market
DNV GL’s Tanker Working Group looked at the latest trends in the tanker segment with a special focus on the impact of upcoming emissions regulations at its 31st meeting in Hamburg recently. Some 25 representatives from the tanker industry met with DNV GL experts in the classification society’s maritime headquarters to hear presentations and participate in informal discussions. “The Tanker Working Group is a great place for industry representatives and DNV GL to share ideas and the latest news on regulatory developments…
NYK Procures 4,700 Refrigerated Containers
NYK has placed an order for 4,700 additional brand-new 40-foot refrigerated (reefer) containers, and the delivery of the new containers commenced in November. NYK procured 5,500 of the same type of containers last year, and the average age of company’s fleet of over 40,000 reefer containers has now fallen to four years. The new order includes 600 Controlled Atmosphere (CA) containers. The advanced technology of these CA units ensures the freshness of perishable agricultural products, such as fruits and vegetables during long ocean transits.
Mouvex Celebrates 110 Years
Mouvex, part of PSG, a Dover company and manufacturer of positive displacement pumps, is celebrating its 110-year anniversary in 2016. Headquartered in Auxerre, France, Mouvex was founded in 1906 by engineer André Petit when he identified the challenges that gear and lobe pump users were facing in optimizing their process and invented the eccentric disc pump as a result. Since that time, Mouvex has become a worldwide leader in positive displacement pumps and compressors for the transfer of liquids and dry bulk products within the hygienic, chemical, energy, military and transport industries. Mouvex became part of PSG in 2008, and now has operations on five continents with a global network of distributors and original equipment manufacturers.
Colombia: Refrigerated Containers Drive Foreign Trade
Maersk Line just published its Colombia trade report for the third quarter of 2016. Total reefer share of Colombia's exports increased to 21% in Q3 2016 - up from 12% in 2015 - with pineapple and banana the strongest performing products. “As well as boosting foreign trade in containers, the transformation in technology and the innovation it represents, is generating a diversification in Colombian exports in terms of target markets. Despite that Colombian exports fell 12% to Asia and 9% to Latin America…
ZIM to Enhance its Atlantic Network
ZIM Integrated Shipping Services Ltd (ZIM) has announced a significant upgrading of its Atlantic network, offering improved connections between US, Canada and the Mediterranean, starting April 2017, subject to FMC approval. ZIM Container Service Italy (ZCI) - A new premium string, offering improved service to the Italian and French markets, connecting with Canada and the US East Coast, with faster transit time, additional ports of call in Italy and a direct call in Fos, France.