Ship Scrapping Increases, but in Wrong Trades
Although the number of vessels being scrapped this year has increased dramatically, and looks set to continue rising, it is having little impact on the current excess of supply over demand where it matters most – in the East-West trades, according to the latest edition of Drewry's 'Container Insight Weekly'. All of the vessels scrapped so far remain below 6,000 teu, whereas the worst excess is in the sector over 10,000 teu, where most vessels are deployed between Asia and Europe.
ABB Wins US$20-Million in Offshore Vessel Orders
Power and automation technology group, ABB, says it has won contracts worth in excess of $20 million to supply electrical power and propulsion systems for two next generation offshore vessels. The first vessel is being constructed at Ulstein Verft in Norway for Island Ventures 11, the joint venture set up in 2012 by the leading US and Norwegian owners Edison Chouest Offshore and Island Offshore, whose advanced subsea service vessels provide high quality solutions to the offshore oil industry.
Ensco plc Announces Cash Dividend
Ensco plc (NYSE: ESV) announced today that its Board of Directors has declared a regular quarterly cash dividend of US$0.75 per Class A ordinary share payable on 20 June 2014. The ex-dividend date for this payment is expected to be 5 June 2014, with a record date of 9 June 2014. Ensco’s dividend yield is among the top five percent of S&P 500® companies. Ensco uses its website to disclose material and non-material information to investors…
HMAS Wollongong delivers injured mariners ashore
Royal Australian Navy patrol boat HMAS Wollongong has made a mercy dash to embark two injured Australians who were rescued by an Indonesian merchant vessel in the Arafura Sea. An Indonesian registered civilian offshore supply ship, MV POSH Shearwater, initially responded to a vessel in distress call and rescued the two men from their sinking craft on 14 May. The transfer from the POSH Shearwater was made using a winchable Paraguard Stretcher onto Wollongong’s sea boat…
UK's New Astute-class Submarine Enters Water
UK Ministry of Defence (MOD) says that moving the nuclear-powered attack submarine from the BAE Systems construction hall at Barrow-in-Furness, in Cumbria, and into the water was a huge milestone in the Astute submarine programme. Weighing in at 7,400 tonnes and at 97 metres long, Artful is the third of 7 highly complex Astute Class submarines being built for the Royal Navy. Two of the submarines, HMS Astute and HMS Ambush…
Documentary 'Window in the Waves'- Next Showing 5/21
'Window in the Waves', featuring Coral Reef in Gulf of Mexico will go on the air in May and June next. It is the story of the Flower Garden Banks, a documentary…
Russia And China Ready For Deal On Energy
"China is our reliable friend," Russian President Vladimir Putin said on Monday in an interview ahead of a conference in Shanghai. Most evaluations of the bilateral relationship begin by reciting the historical border disputes, rift between Mao Zedong and Nikita Khrushchev, opening to China by Richard Nixon, and the perennial problem of reaching an agreement on gas pricing. But these are all essentially backward looking and ignore the growing community of interests between the two countries.
Incentives' For Pemex To Keep Stake In Repsol low
Mexico's Energy Minister said on Monday that incentives for Pemex to keep its stake in Repsol are low, adding to suggestions the state oil company could pull its 2.3 billion euro ($3.16 billion) investment from the Spanish firm. Pemex, Repsol's third-biggest stakeholder, has had an increasingly troubled relationship with the Spanish oil major, over how Repsol handled the loss of a unit in Argentina and the degree of influence it has allowed its Mexican partner.
Subsea: Standardization is the New Innovation
Oslo, Norway – May 19, 2014 – As one of the world’s most technologically innovative industries, the highly specialized subsea sector is not typically known for standardized operations. But that might change. But as the complexity of global subsea projects grows, so too does the bill for contractors, suppliers, operators, engineers, researchers and just about everyone involved in subsea projects. Many believe that this doesn’t have to be the case.
Sewol Crew Gets Little in Legal Resources
MOKPO, South Korea, May 20 (Reuters) - South Korea's legal system appears to be failing 15 surviving crew of a ferry that sank last month, killing hundreds of children…
GAO: U.S. Can Do Better on Arctic Policy
The U.S. needs a better strategy to coordinate and prioritize its policies related to the Arctic region, according to a Government Accountability Office (GAO) study out today that was released by Reps. Rick Larsen (WA-02), Tim Bishop (NY-01), John Garamendi (CA-03) and Senator Lisa Murkowski (AK). The GAO study focused on U.S. participation in the Arctic Council, a voluntary body started in 1996 that includes the eight Arctic nations—Canada…
U.S. Oil Prices Rally
U.S. oil prices rose to near one-month highs on Monday as a weak dollar prompted buying a day before the June contract's expiration, while Brent prices fell as slumping…
Traction and Control System for Tugboat Winches
For Damen Shipyards, Bosch Rexroth developed and engineered both the hydraulic and electrical systems for the winches of a new tugboat. The Damen ASD Tug 3212 is a newly designed tugboat for assistance activities at offshore LNG and oil terminals and open sea loading stations for the mining industry. The tug has 85 t Bollard Pull, a speed of 14 knots and two deck-mounted winches: one at the bow and one at the stern.
ALP Tugs Get Rolls-Royce Deck Equipment
Rolls-Royce won a $31.9m contract to deliver deck machinery for four ocean going tugs, designed by Ulstein Design & Solutions, for Dutch company ALP Maritime Services. The vessels will be constructed in Japan by Niigata Shipbuilding & Repair. The vessels are being developed for towing large structures like oil rigs and floating production units over long distances. The bollard pull for each of the four vessels will be 300 tons and they will be equipped for anchor handling.
Mammoet: World’s Biggest Crawler Crane Installs Legs on Ship
Mammoet employed the LR13000, reported to be the biggest crawler crane in the world, to install four platform legs on Van Oord’s newest wind turbine installation vessel, Aeolus. In 12 days the giant crane was assembled at Lloyd Werft in Bremerhaven, Germany. The first of the four 87m long steel platform legs, each weighing 920 tons, were settled into its jacking position on the 139 x 38 m vessel. For the job…
Interview: Rich Hobbie, Water Quality Insurance Syndicate (WQIS)
An interview with Rich Hobbie, the leader of the Water Quality Insurance Syndicate (WQIS), the largest underwriter of pollution liability insurance for marine vessels in the United States. Can you give our readers an overview of your business today. The Premium income and growth factors in the marine insurance industry are very stagnant right now. And competition is quite heavy in all areas. In the U.S. market and in the marine market in general, there are new players.
"Soil Shift" Shuts Down Statoil Snorre B Platform
Statoil shut oil production at its Snorre B platform in the North Sea and evacuated a quarter of the personnel there after detecting a soil shift under a drilling template and then oil leak, the company said on Monday. The Snorre field in the northern part of the North Sea is Norway's fourth-biggest oil producer with output averaging 88,000 barrels of oil per day in 2013, data from Norwegian Petroleum Directorate (NPD) showed.
S.P. Inter Marine Expands Cargo Handling
Long established in the trucking, warehousing, cargo transfer and barging industry of Thailand, S.P. Inter Marine can be described as a broadly horizontally integrated firm. With a well constructed presence at Ayutthaya, about 80 kmup the Chao Phrya River from the Gulf of Thailand; it continues to expand its warehousing capacities for Thai agricultural cargos like tapioca. Its barge loading facility can handle a wide range of products from domestic aggregate to export agriculture products.
Wärtsilä Receives Repeat Order from Evergas
Three new 27,000 cbm LNG/Multigas Carriers for Evergas, the Denmark based transporter of petrochemical gases and natural gas liquids, are to be built featuring the integrated Wärtsilä solution, comprising the main propulsion equipment, the gas fuel supply system, and the cargo handling system. This order is an extension of the one placed in 2013 for a series of three similar vessels. The ships are being built by the Sinopacific Offshore & Engineering (SOE) shipyard in China…
Long-Range Clean Tanker Rates Hit 8-Month High
Long-range clean tanker rates stayed firm on Monday extending a recent rally with firmer cargo demand bolstering sentiment further. Long Range 1 tankers, carrying 55…