Daewoo Bags Big Maersk ULCS Order
AP Moller-Maersk has returned to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering for its latest series of ultra-large container ships (ULCS), reports The Korea Economic Daily. The total contract to build 11 ultra-large containerships is worth US$1.7 billion. The newspaper quoted shipping sources saying that the Danish conglomerate decided to have DSME build eleven 20,000-TEU container carriers and is currently negotiating final details.
North Korea Test-Fires Missile from Submarine
North Korea has successfully test-fired a newly developed ballistic missile from a submarine in what would be the latest display of the country’s advancing military capability. Kim Jong Un, the North Korean leader, ordered the test of the “world-level strategic weapon” and was present when it “soared into the sky from underwater,” the state-run agency reported. “There took place an underwater test-fire of Korean-style powerful strategic submarine ballistic missile,” the KCNA article reads.
South Korean Okays Casinos in Cruise Ship
South Korea plans to enable its citizens and foreign tourists to wager on new cruise ship services that will serve ports around the country, reports the Korea Joongang Daily newspaper. Some major overseas cruise companies – such as Genting Hong Kong Ltd’s Star Cruises – operate shipboard casinos that only open once the vessel is in international waters. The plans also include allowing local residents to use casinos on cruise ships.
Near Term Outlook Mixed for Shipping
Shipping services company Clarkson PLC warned that the outlook for the industry remains mixed in the short term and dry bulk and offshore in particular present challenges. "The near term industry outlook remains mixed and the challenges in some of our markets continue. The delivery profile of our activities in broking and financial will result in a weighting in performance towards the second half of the year.
Dry Bulk Shipping to Stay Low
Goldman Sachs can't see an end to the dry cargo downturn until at least 2020 on a glut of vessels and stalling cargo growth, says a report in Bloomberg. Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer. Steep drops in Asian shipping rates have also added to fears about slowing trade, as a fall in export orders from countries across the region depresses demand for ships.
China Accelerates South China Sea Land Reclamation: US
China embarked upon extensive land reclamation efforts in the disputed Spratly Islands this year, adding huge amounts of terrain as of December to bolster its presence in an area claimed by rivals, a new Pentagon report said. According to a WSJ report, the American officials have determined that in the past five months alone, China has expanded the artificial islands on submerged reefs known as the Spratlys fourfold to as much as 2,000 acres of land.
Vietnam Reclaims Land in South China Sea
Vietnam has carried out significant land reclamation at two sites in disputed South China Sea waters, recent satellite pictures show, but analysts say the scale of the work is dwarfed by that of China, reports AFP. The expansion of the land area of Vietnamese-controlled Sand Cay and West London Reef in the Spratly is shown in satellite images from Washington's Centre for Strategic and International Studies (CSIS).
Adani Sails Closer to Vizhinjam Deep Sea Port
An empowered committee established by the Kerala State government in India has recommend the lone bid submitted by the Adani Ports and Special Economic Zone Ltd. (APSEZ) to build and operate a new International deep water seaport project at Vizhinjam. With this, Adani has scaled the first hurdle in winning the contract for constructing and operating the port. Interestingly, Adani Ports was the single bidder for the project.
New Storage Facility in Portland, UK
A unique storage facility adjacent to one of the busiest shipping trade routes in the world is soon to become available. Since 2001, Portland Port located on the south coast of the UK has leased its bunker storage, pipeline and berth facility to Aegean Marine Petroleum Network. Later this year the facility will return back to the open market with the opportunity for a new tenant to occupy and manage the facility.
Diana, Wilhelmsen form DWM
Diana Shipping Inc. a global shipping company specializing in the ownership of dry bulk vessels, and Wilhelmsen Ship Management (“WSM”) today announced that they have established a new 50/50 joint venture named Diana Wilhelmsen Management Limited (“DWM”). Diana Wilhelmsen Management Limited will initially provide management services to a limited number of vessels of Diana Shipping’s fleet when the…
Low Water Levels on Lake St-Louis
* Vessels with a draft greater than 70 dm are limited to 10 knots upbound and 12 knots downbound. * For vessels with a draft of 70 dm or less, the speed limit remains limited to 12 knots upbound and 14 knots downbound respectively. The Administration of the Great Lakes St. Lawrence Seaway System will continue to monitor the water levels and advise of any other changes. Current details please see 2015 – Notice to Shipping #8 MAISONNEUVE REGION MONTRÉAL / LAKE ONTARIO SECTION.
USN to Christen 'USNS Brunswick'
The Navy will christen the future USNS Brunswick (JHSV 6) May 9 during a 10 a.m. CDT ceremony in Mobile, Alabama. Secretary of the Navy Ray Mabus will deliver the ceremony’s principal address. Alma B. “Lee” Booterbaugh will serve as the ship’s sponsor. "We will celebrate the christening of the future USNS Brunswick - a modern marvel - just like the incredible shipyard that built it," said Mabus. "More than 4…
Being a Shipmaster in Europe Made Easy
From 1 June 2015, the administrative burdens imposed on the maritime industries in Denmark and the rest of Europe will be reduced through the implementation of a new electronic reporting system. "National Single Window". This is the name of the new electronic system which will simplify the reporting regulations applicable to shipping from 1 June this year. A joint national platform will abolish the repeated reporting of identical information that has been necessary until now.
Petrobras Directors Agree on Audit Committee Composition
Petrobras’ Board of Directors has unanimously approved the new composition of its Audit Committee, by appointing Directors Luiz Nelson Guedes, Luiz Augusto Fraga Navarro de Britto Filho and Roberto da Cunha Castello Branco as the new members of this Committee. The Board of Directors has also unanimously approved the appointment of Director Luiz Nelson Guedes de Carvalho as the President of Petrobras’ Audit Committee.