Indonesia Gets Multipurpose Research Vessel from France
The Indonesian Navy has taken delivery of a French-made KRI Rigel 933 multipurpose research vessel at Jakarta International Container Terminal 2, Tanjung Priok, North Jakarta, Jakarta Post reported. The ship was delivered from the OCEA Les Sables d'Olonne shipyard in France. Navy chief of staff Adm Ade Supandi said it is hoped the vessel would be sufficient to meet the need for ships to update our navigation data and to research sea depth, topography and salinity.
Crude Oil Tanker Market Weakened, says OPEC
Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report. On average, dirty tanker freight rates were down 8% from the month before. Despite a stronger market seen in the VLCC sector, average dirty spot freight rates declined, influenced by the declines in Suezmax and Aframax freight rates. VLCC spot freight rates showed improvements…
Drewry Expects Dry Bulk Shipping Recovery in 2017
Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. The dry bulk market has always been sensitive to demand fluctuations and seven years ago a demand-driven peak in the market made many owners cash-rich, helping them survive the weak market that has persisted since.
Dynagas LNG Beats Profit Forecasts, May Add Five More LNG Tankers
With earnings, adjusted for amortization costs, profits came to 43 cents per share, Greece-based Dynagas LNG Partners LP (DLNG) exceeded Wall Street expectations. The company is looking into the opportunity of acquiring five LNG carriers currently owned by the parent company Dynagas Holding Ltd. Dynagas LNG has reported first-quarter profit of $14.9 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
Evergreen Marine Plans China-Indonesia services
The largest container shipper in Taiwan Evergreen Marine Corp will work with China's COSCO Group and China Shipping Container Lines Co to launch shipping services between China and Indonesia later this month. The three partners will assign four 2,000-2,700 twenty-foot equivalent unit (TEU) vessels to serve the new route. TEUs are used to measure the capacity of container vessels. The first sailing is planned to depart from Qingdao on the 20th of May…
Asian Lift Adds Fifth Sheerlegs
Asian Lift, a joint venture between Keppel Offshore & Marine (Keppel O&M) and Smit Singapore, a member of the Boskalis group of companies, celebrates the naming of Asian Hercules III, which is the largest and most versatile heavy-lift sheerlegs of its kind in the world. The self-propelled floating sheerlegs can perform single lifts of up to 5,000 tonnes and carry out tandem lifts exceeding 5,000 tonnes with multiple cranes.
Sentinel Orders ERRV at Cosco Guandong
China's COSCO (Guangdong) Shipyard has secured a contract from Aberdeen-based Sentinel Marine to build a TAERRV (Tanker Assist / Emergency Response / Rescue / Field Support Vessel). Cosco says the vessel’s expected delivery date is in the first quarter of 2017. Sentinel Marine has an option to order an additional TAERRV within six months. The shipbuilder and the client have agreed to keep the contract price confidential and the contract includes an option for a second vessel.
Challenges Ahead for Marine Insurance
The marine insurance sector is undergoing a rapid period of change and it is critical that insurers understand the risks the industry is facing and offer products that match these new trends, Dieter Berg, president of the International Union of Marine Insurance (IUMI) said. He outlined four new risks the industry is facing that insurers must endeavour to better understand. The first was cyber threats…
Drydock Vigilant Expected at Vigor Seattle
The 14,000-long ton capacity drydock Vigilant that will support hundreds of family-wage industrial jobs at Vigor Industrial’s shipyard on Harbor Island is scheduled to arrive in Elliott Bay late Saturday or early Sunday. The 528-foot long drydock, which is being towed from Portland by tugs from Seattle’s Harley Marine Services, will enable Vigor to continue to compete with California and U.S. Gulf Coast shipyards for ship repair, maintenance and construction contracts.
Freeport LNG Was Not Advised Against Inviting Chinese Investors
The head of Freeport LNG on Friday said that the U.S. Department of Energy did not advise against inviting Chinese investment in the company's Texas export plant, backing down from contradictory claims made on Thursday. Michael Smith, the chief executive of privately-owned Freeport LNG, which is building a plant to export liquefied natural gas to Asia from 2018, said he misspoke on Thursday when during…
Oil CEO Hamm Sought Ouster of Scientists Looking at Quakes
Oilman Harold Hamm, CEO of Continental Resources Inc., told a University of Oklahoma dean last year that scientists studying links between oil drilling and earthquakes should be dismissed, Bloomberg News reported on Friday. Bloomberg, citing emails obtained through a public records request, said Hamm indicated he wanted to see some scientists at the Oklahoma Geological Survey, which is based at the university, let go.
China, India Sign over $22 bln in Deals
China and India signed deals worth more than $22 billion in areas including renewable energy, ports, financing and industrial parks, an Indian embassy official said on Saturday. Namgya C. Khampa, of the Indian Embassy in China, made the remarks at the end of a three-day visit by Indian Prime Minister Narendra Modi, during which he sought to boost economic ties and quell anxiety over a border dispute between the neighbours.
MVS USA Appointed as Inmarsat GX VAR
Inmarsat today announced the appointment of MVS USA, a leader in mobile satellite communications and a founding Inmarsat Distribution Partner, as a Global Xpress (GX) Value Added Reseller (VAR) for the Maritime market, selling FleetBroadband Xtra and Fleet Xpress. Deborah Deffaa, CEO, MVS USA and Executive Director, MVS Group, commented, “MVS values the relationship developed with Inmarsat over the past two decades and our participation in every new product launch.
RINA Launches Engineers Development Programme
The Royal Institution of Naval Architects (RINA) is delighted to announce the first of a portfolio of soft skills courses tailored to the needs of engineers called Effective Presentations and Networking which will take place on July 29th 2015 at RINA headquarters in London. This one day course introduces engineers from all disciplines to the fundamentals of how to communicate in business effectively…
Australia Announces Reforms to Coastal Trading Regime
In its budget this week, Australia's Federal government announced reforms for foreign-flagged vessels operating in the country's waters. The new measures appear…
Kaunonen to Head Automation & Projects at Kalmar
Antti Kaunonen has been appointed as Senior Vice President, Automation and Projects, Kalmar, part of Cargotec. Antti Kaunonen brings with him over 25 years of experience from industrial businesses and deep knowledge in automation. He has delivered proven success in building automation and project business capabilities in global companies. Before joining Kalmar, Antti worked at Voith in Germany close to eight years in different management positions heading Voith Paper Automation…
Long Beach's Cement Terminal Project Approved
The Long Beach Board of Harbor Commissioners approved the Mitsubishi Cement Facility Modification Project this week, greenlighting the addition of 40,000 metric tons of additional storage capacity consisting of storage and loading silos on vacant Port property adjacent to Mitsubishi’s existing facility at the Port’s Pier F. The site will increase in size from 4.21 acres to 5.92 acres. The board’s approval was contingent on environmental measures and upgrades.