Maersk Line Q3 Performance Better
Maersk Line said it has achieved improved results in the third quarter of 2014 (Q3) through lower costs and increased rates. Revenue in Q3 was $7.074 million, as volumes increased by 3.7% to 2.4 million FFE. Maersk Line said its strategy is to grow with the market and the increase is in line with the above 3% market growth. Søren Skou, CEO of Maersk Line, said, “I am very satisfied with the result.
BP's 3Q Interim Dividend for 2014
The Directors of BP p.l.c. announced that the interim dividend for the third quarter 2014 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 19 December 2014 to shareholders on the share register on 7 November 2014. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative will…
Petrobras Sets Record in Brazil
Consolidated Oil and Gas Petrobras in Brazil and abroad, production amounted to 2 million 795 thousand barrels of oil equivalent per day (boe) in October. This volume…
ClassNK’s Super Eco Ship for Coastal Trade
As the Industry waits for the Ministry of Shipping, Government of India to roll out the much hyped policy to boost Coastal Shipping and Inland Waterways transport, ClassNK & Indian Register of Shipping (IRS) took the first step to conduct a workshop on “Super Eco Ship For India Coastal Trade” as a strategy to be first to cash in on the opportunities when the policy gets implemented. Held in Mumbai last week at the IRS auditorium…
DP World to acquire EZW Logisitics
EZW purchase funded from existing cash and loan facilities; DP World will also take about $859 million of EZW's debt. DP World said on Thursday it would pay $2.6…
Convicted Crew of Korean Ferry File Appeals
Eight of the 15 surviving crew members of a South Korean ferry that capsized in April have filed for appeal against their convictions on negligence charges in the country's worst maritime disaster in more than four decades. The eight crew members, who had been given prison sentences ranging from five to 30 years, filed appeal papers on Thursday, according to court records. Video footage of the crew…
Hatteland Display Celebrates 25 Years
On November 1, 2014, Hatteland Display celebrated its 25th anniversary as a supplier of maritime displays and computers. From the early days in 1989 and up until today, the company has delivered more than 200,000 products to system integrators worldwide. Hatteland Display reports that 2014 will be a record year with more than 21,000 new products to be delivered to the market from its production facility in Nedre Vats outside of Haugesund in Norway.
Imtech Equips First LNG-Hybrid Barge
Imtech Marine equipped the first LNG-Hybrid Barge with green technology by order of Becker Marine Systems. The LNG-Hybrid Barge, which will supply the AIDA cruise fleet with energy in Hamburg, is fitted with Imtech Marine’s electrical solutions and fire extinguishing equipment. In addition, Imtech Marine installed the complete ventilation systems with corresponding heat recovery and sea water cooling systems…
UASC Selects Jotun Coatings for 11 New Containerships
As part of a $2.3 billion newbuilding program, United Arab Shipping Company (UASC) has reached an agreement with Jotun for the provision of antifouling coatings for 11 new container vessels. The agreement marks the first time the companies have worked together on marine antifouling hull coatings. Of the 11 vessels to be coated with Jotun's premium antifouling range, eight are 14,500 TEU and three are 18,800 TEU capacity vessels.
Odfjell Results ‘Improving, But Not Yet Sustainable’
Odfjell reported third quarter 2014 chemical tankers EBITDA of $26 million, compared with $24 million in second quarter, as activity in the chemical tanker markets in third quarter was quite similar that of the previous period. Reduced spot trading to Asia from Europe and the U.S. caused downward pressure on freight rates as fewer cargoes where available. Time-charter results were down by 3%. Towards the end of the quarter the CPP market improved…
Great Lakes Limestone Rally Continues
The Great Lakes limestone trade racked up its fifth straight month of increases over the corresponding period last year in October, Lake Carriers’ Association reported. Stone cargos totaled 3.7 million tons, an increase of 2.8 percent. The trade also bettered its long-term average by 8.1 percent. Despite the five-month rally, year-to-date the Lakes limestone trade is still slightly behind last year’s pace. The 23 million tons shipped through October represent a decrease of 2.1 percent.
Sulfur Regulations Spur Fuel-saving Technologies
With many ship owners switching to marine gas oil (MGO) inside designated Emission Control Areas (ECAs) as of January 1, 2015, the cost of fuel could rise by up to 50%, so all measures to reduce fuel consumption are vital. Research and field testing has shown that the latest developments in engine lubrication and unique marine energy management systems can add more than a 15% improvement in fuel efficiency, proving that even the smallest modification at the right time can add up to big savings.
Texas Pilots Order Vessel from Gladding-Hearn
Sabine Pilots in Port Arthur, Texas has ordered a new pilot boat from Gladding-Hearn Shipbuilding, Duclos Corporation. The pilots’ first launch, built by the Mass.-based shipyard…
Port Canaveral Welcomes Explorer of the Seas
Starting November 15, 2014, Royal Caribbean’s Explorer of the Seas begins homeporting at Port Canaveral through March 2015, offering a new nine-night itinerary that reaches further into the southern Caribbean with stops in Aruba, Bonaire, Curacao, and Haiti. Other itinerary options include four-, five-, and eight-night Caribbean cruises. “We are pleased that Royal Caribbean continues to provide innovative ships and diverse itineraries for our community…
89 Crowley Vessels Receive Environmental Awards
Eighty-nine Crowley Maritime Corp.-owned and operated vessels were honored with Certificates of Environmental Achievement for years of safe operations during the eleventh-annual Chamber of Shipping of America (CSA) awards ceremony today. Crowley received an award for each vessel that worked at least two consecutive years without an environmental incident. The 89 vessels have logged a combined 968 years of service without incident…
Keeping Their Cool – Marine Clutches and Brakes
The marine environment is extremely harsh and delivering equipment capable of performing reliably and efficiently requires expert design engineers combined with advanced materials technology. Neil Wright, Managing Director of Wichita Clutch, assesses the requirements of modern marine clutches and brakes, which play such a crucial role in a variety of applications. As marine exploration for oil and gas continues to greater depths…
Maritime Reporter @ 75: The Daily Cartoon
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.
NY-Area Seafarers to Join MM&P
New York Harbor Tug Boat Captains and Crews, Staten Island Ferry Workers, Circle Line and Other Tourist Boat Crews Vote to Join New Union. New York-area watermen who operate tugboats, dredges, tourist boats and ferries, members of Staten Island-based Local 333, have voted by an overwhelming margin to support a merger between Local 333 and the Maryland-based International Organization of Masters, Mates and Pilots.
Baumann Relieves Matthews as SUPSALV Director
Capt. Gregg Baumann assumed command from Capt. Mark Matthews as the Director of Ocean Engineering, Supervisor of Salvage and Diving (SUPSALV), Naval Sea Systems Command announced. Baumann reports to SUPSALV after serving as program manager for the International Fleet Support Program Office. He also served as chief of staff for the Deputy Assistant Secretary of the Navy for Ship Programs, executive…
FMC Commissioner Doyle Weighs In
Commissioner William P. Doyle's remarks at the Commission Briefing on Mid-Atlantic and Northeast Port Congestion Forum, November 13 2014 in Baltimore, MD. On October 1, 2014, Commissioner Lidinsky and I hosted the Mid-Atlantic and Northeast Port Congestion Forum at the World Trade Center in Baltimore, Maryland. I want to thank all the FMC staff for their participation in setting up and managing the day’s event.