Finland Has the Arctic Maritime Technology Edge: Arctia CEO
According to CEO Tero Vauraste of Arctia Shipping, who spoke at a recent Arctic research seminar at the University of Turku, Finland has great potential in the maritime technology of the arctic region. The University says that Vauraste sees three trump cards in the Finnish arctic strategy from the point of view of business and investment policy: maritime technology, mining and tourism. At the moment, there are about a hundred icebreakers in the world and 60 of them were built in Finland.
NMEC Names Michael Torrech New Chairman
The National Maritime Education Council (NMEC) informs that Michael S. Torrech, CEO of American Maritime Holdings, a leader in the repair, shipbuilding, and maritime industry, has been named as its new chairman to succeed John Lotshaw of Huntington-Ingalls Shipbuilding. Mr. Torrech, a founder of the NMEC, will lead the organization's strategic development of a national standardized maritime workforce program that addresses the critical issues facing the industry.
Chicago Tug Grounding: Latest Update
The U.S. Coast Guard informs it continues its response to the grounded towing vessel Kimberly Selvick in Lake Michigan off of Burnahm Park. It has been determined that ten times more diesel fuel, 14,000 gallons, is on board the tugboat than originally reported. Efforts to salvage the vessel are ongoing and weather conditions are delaying a pre-salvage damage assessment of the vessel and the staging of salvage assets.
Climate Rules Could Put $1.1 Trl In Oil Investment At Risk
Investors could spend up to $1.1 trillion over the next decade on oil projects and assets that never reach production if governments enforce measures to curb climate change…
Cost Of Somali Piracy Slumps As Attacks Fall
The cost of Somali piracy to the global economy fell by almost half last year as attacks slumped, but piracy in West Africa was on the rise, an annual security report said on Wednesday. The Oceans beyond Piracy report put the total cost of Somali piracy - by far the largest single threat to international shipping in recent years - at only $3.2 billion in 2013. There were still at least 50 hostages in Somali captivity in desperate conditions…
Use a new EOR technology brings award for BP
In recognition of the breakthrough new enhanced oil recovery – or EOR – technology, BP has been presented with the Distinguished Achievement Award. The award was presented on 4 May, 2014 at the Offshore Technology Conference (OTC) in Houston, Texas. This is the second time in four years that BP has won the award at this major annual gathering for oil and gas professionals. BP's plans to use the new…
Libyan Rebels Reject Talks With PM, Keep Oil Ports Shut
Rebels occupying major oil ports in eastern Libya said on Wednesday they would boycott Prime Minister Ahmed Maiteeq and keep two major export terminals shut for now…
Suez Canal Changes to transits due to cleansing works
- Temporary suspension of entry of the second southbound convoy until the end of the cleansing work (Updates to be provided as available). - Vessels with draft of more than 45 feet, especially container ships that enter via the Eastern branch within the convoy and before entering the last ship in the convoy by about 90 minutes at least, and according to the traffic. As a result, all vessels arriving…
Ezion Reports 62% Increase in Q1 2014 Profits
Ezion Holdings Limited (“Ezion” and together with its subsidiaries the “Group”), a leading Singapore headquartered, Liftboat developer, owner and operator as well as offshore logistics support service provider, reported its 28th consecutive quarters of growth in 1st quarter 2014 with the 61.6% year on year increased in net profit to US$45.2 million (excluding disposal gain in 1st quarter 2013). Gross profits also rose 92.2% to US$47.3 million over the same period.
Townsville Port charges to rise 5.5%
Port of Townsville Limited (POTL), Australia, has advised that a 5.5% increase will apply to port charges at the Ports of Townsville and Lucinda effective 1 July 2014. The Lay-up Concession will continue to operate and its effectiveness will be monitored and reviewed through the Port Advisory Body. More than $500 million has recently been invested in port and transport connections. Notably, the Townsville Port Access Road…
BAM to build petroleum jetty in Sierra Leone
BAM International and its South African joint-venture partner Stefanutti Stocks have been awarded the contract for the engineering, procurement and construction (EPC) of a petroleum jetty at the Kissy Oil Terminal of Freetown in Sierra Leone. It will take the joint venture approximately one year to design and complete the project for PetroJetty Ltd. The new petroleum jetty comprises a 240 metres steel trestle on steel piles…
First LNG disaster prevention facility in Northwest Europe
At Maasvlakte in the Port of Rotterdam, Falck has started work on a the first Northwest European training facility for disaster prevention involving Liquefied Natural Gas (LNG). The Port of Rotterdam Authority and the joint fire service in the port area are closely involved in the development of this training facility. From September 2014, fire crews, employees and members of company emergency response teams in the chemical and petrochemical industry…
NZ's Z Energy Year Profit Falls
New Zealand petrol retailer Z Energy Ltd reported a 31 percent fall in its annual profit on Thursday, on the back of lower revenue and higher costs. The company reported a profit of NZ$95 million ($82.4 million) for the 12 months to March 31 compared with NZ$137 million the year before. It is the company's first reported profit as a listed entity after an IPO last year. Z Energy said earnings before interest…
Transocean Reports Q1 Net Income Surge
Transocean Ltd., the world's top offshore driller for enegy producers, posted first-quarter net income on Wednesday of $456 million, a 42 percent rise from a year ago, thanks to an uptick in revenue and lower costs and taxes. Operating revenues rose 7 percent to $2.34 billion while costs fell 5.8 percent to $1.6 billion. (Reporting By Terry Wade)
New Subsea Report on Tech, Safety and Trends
DNV GL has issued the report ‘Subsea – Technology Developments, Incidents and Future Trends’ on behalf of the Norwegian Petroleum Safety Authority. “The ongoing…
Libyan Rebel Leader: Govt Has Not Fulfilled Deal to Reopen Ports
A rebel group controlling two large oil export ports in eastern Libya said on Wednesday the government had not fulfilled its part of an agreement to reopen the ports.
Unique Maritime, OEG Offshore Sign Joint Venture Agreement
Unique Maritime Group, an integrated turnkey subsea and offshore solutions provider, announced a joint venture agreement with OEG Offshore (OEG), to offer the rental and sale of offshore equipment in the Middle East region. The new joint venture company, OEG Unique, which will be based in UAE & QATAR, will provide local access to OEG’s full range of over 200 individual certified designs of DNV 2.7-1 certified Cargo Carrying Units (CCUs) and A60 modules across the GCC countries.
New EU Rules for Waste Shipments
The Council of the European Union (EU) adopted a regulation amending regulation 1013/2006 on shipments of waste, which lays down requirements for shipments of waste…
Shippers Launch Joint Direct Asia-West Africa Service
MOL Liner Ltd. (MOL), Evergreen Line and COSCO Container Lines Co., Ltd. today announced the launch of a weekly direct service from Asia to West Africa, branded the WA1.
DSIC Earns Homeland Security SAFETY Act Designation
Decision Sciences International Corporation (DSIC), an advanced technology provider of security and detection systems, today announced it has earned U.S. Department of Homeland Security’s (DHS) SAFETY (Support Anti-Terrorism by Fostering Effective Technologies) Act Developmental Testing and Evaluation Designation for its award-winning Multi-Mode Passive Detection System (MMPDS). The SAFETY Act is a federal law passed by the U.S.