U.S. Commodity ETFs Fall for Fifth Quarter
U.S. retail and institutional investors pulled cash from broad commodity exchange-traded funds for a fifth straight quarter even as coffee, natural gas and hogs prices had their best run in years…
60 MacGregor Cranes Ordered for Chinese-built Bulkers
MacGregor, part of Cargotec, has won a run of orders for bulk versions of its cargo handling cranes from five Chinese shipyards. The cranes are destined for 15 bulk carriers for various owners. •Two 37,500 dwt bulkers on order at Yangzhou Gouyo shipyard. The vessels will be used to carry logs as well as dry bulk cargoes and will each be equipped with four GLBE3026.2-2/2426.2gr variable frequency drive (VFD)-type marine cranes. The cranes are scheduled for delivery by the end of 2014.
Market Recovery Continues Across Japan for WSS
Speaking ahead of Sea Japan today, WSS General Manager for Japan Yoshihiro Iizuka says that although the Japanese market is moving towards growth for 2014, the recovery will be stronger in the second half, with an increase in newbuilds expected towards the end of the year. Iizuka says: “Overall, the Japanese market is in recovery, with annual pay raises by the major corporates estimated at around 2-3% for 2014.
Rescued Family Returns Safely aboard Navy Ship
A family of four rescued from their sailboat after their infant daughter became seriously ill at sea returned safely to San Diego on Wednesday aboard a U.S. warship…
Baltic Med Crude-Urals Weakens, Opens Arb Options
Russian Urals crude weakened in the Baltic on Wednesday due to a number of unsold cargoes while Kazakh CPC continued to strengthen due to a lack of sweet barrels.
US LNG Export Bill Clears Hurdle
A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas (LNG) exports…
Mexico, US Seminar on Gulf of Mexico Spill Response
The U.S. Coast Guard and Mexican Navy held a seminar Tuesday in South Padre Island, to update the MEXUSGULF plan for a future coordinated response to a spill in the Gulf of Mexico that would impact both countries. MEXUSGULF is a joint contingency plan between the United States and Mexico. It provides standard operational procedures with respect to binational coordination in case of pollution incidents…
gplink Approved in More than 30 Countries
Remote monitoring and diagnostic services provided by gplink operate through either GSM service or through various satellite technologies. On a global scale, most countries have their own rules and regulations to follow for communications and radio frequency use. In order to sell in specific countries, gplink must first be reviewed and certified by that country’s communication commission or department.
North Sea Crude-Forties up on Lower May Supplies
North Sea Forties crude differentials rose on Wednesday as traders pointed to lower supplies in May, and rumours of possible shipments to South Korea. The May loading…
Correction: Mississippi River Closed in Iowa after Barge Hits Bridge
The U.S. Coast Guard on Tuesday closed the Mississippi River at Sabula, Iowa, after a barge struck a railroad bridge, said Eric Washburn, bridge administrator for…
Baltic Sea Freight Index Down Again
The Baltic Exchange main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday for a 12th straight session on weak rates for capesize vessels.
New Incat Crowther Build Underway
Incat Crowther announced that construction has commenced on a 28m Catamaran Utility Vessel. Under construction at Marine Diesel Services, the vessel will be delivered to Nordic Maritime. The new vessel will build on the expertise and experience Incat Crowther demonstrated by vessels such as Unlimited, Limitless, Straight Shooter and Vejunas, resulting in one of the most capable and versatile vessel of its type and size.
Today in U.S. Naval History: April 9
Today in U.S. Naval History - April 9 1861 - Second relief convoy for Fort Sumter left New York 1941 - Commissioning of USS North Carolina, which carried nine 16-inch guns 1943 - Reestablishment of Commodore rank 1959 - Selection of first 7 Mercury astronauts, include four naval aviators For more information about naval history, visit the Naval History and Heritage Command website at history.navy.mil.
IHC Merwede Reveals Healthy Orderbook
IHC Merwede successfully increased its orderbook in 2013 across the main sectors of its business: offshore and dredging. The company received almost € 1.8 billion worth of new orders in the past year. At the end of 2013, the order book was valued at over € 1.7 billion, which is the equivalent of a backlog of approximately two years. IHC Merwede develops and builds innovative vessels, advanced equipment and life-cycle support services for the dredging, mining and offshore industries.
Aage Hempel to Equip 10 New PSVs
Aage Hempel, a company in worldwide merchant marine electronic service and focused on 24/7 maritime sales and service, signs agreement for the delivery of navigation and communication equipment included Integrated Bridge System from Kelvin Hughes with Shipyard De Hoop in Lobith. The Platform Supply Vessels (PSV) are for Abu Dhabi National Oil Company (ADNOC). The first vessel is to be delivered early 2015…
U.S. House Bill Approving LNG Exports
A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas exports to countries…
Second Barge Grounds near Long Boat Key
U.S. Coast Guard crews are responding to a second grounded barge near Long Boat Key, Fla., from a tugboat that was beset by heavy weather Tuesday. Due to deteriorating weather, the barge spuds were unable to keep the 140-foot barge from drifting to the beach. Coast Guard incident management personnel from Sector St. Petersburg, Fla., are on scene overseeing the operation. No pollution has been reported.
Shale Revolution Reverses Global Energy Flow
The United States has replaced OPEC as the marginal petroleum supplier to the world thanks to the shale revolution and improvements in automotive fuel efficiency. Net U.S. imports of crude and products have halved over the last five years, or by an amount equivalent to the entire daily crude exports of Saudi Arabia. Net imports totalled 5.2 million barrels per day at the start of 2014, down from 11.2 million at the beginning of 2009, according to the U.S. Energy Information Administration (EIA).
Managing Ice Jams
April showers may bring May flowers, but spring can also bring ice jams to the thawing rivers and streams across the northern United States. An ice jam or ice dam, is a buildup of broken ice in the river system. It can be a problem that causes the water to back up over the top of highway bridges, roads, or into cities. At times, they can cause flooding. Ice jams can be large–backing up water for miles, or small and only back up water in a small area locally.
Navios Logistics Offers Cash Tender, Consent Solicitation
Navios South American Logistics Inc. announced today that it and Navios Logistics Finance (U.S.) Inc., its wholly-owned finance subsidiary, have commenced a cash tender offer for any and all of their outstanding 9 1/4% senior notes due 2019 and a consent solicitation to eliminate or modify most of the restrictive covenants and certain events of default and make other changes to provisions contained in the indenture governing the 2019 notes.