New EU Shipping CO2 Monitoring System
According to a new EU regulation, ship operators will be required to monitor, report and verify (MRV) CO2 emissions. José Inácio Faria, Member, Group of the Alliance of Liberals and Democrats for Europe, European Parliament outlines the key features of new EU rules for the monitoring of CO2 emissions in the shipping sector. Currently, the transport sector is responsible for around 25 per cent of greenhouse gas (GHG) emissions, second only to the power sector.
Shreyas Shipping Turns Around
Shreyas Shipping and Logistics swung to a net profit of Rs. 61.75 crore (about $9.6 million) in the fiscal year ended March 31, a big turnaround from its loss of Rs. 4.32 crore ($675,000) in the previous year. According to Rajesh Desai, CFO, Shreyas Shipping, better fleet utilisation and weak crude prices helped Shreyas Shipping turn corner in the March quarter. The decision to replace old fleet with new fuel economical fleet helped in utilisation of upto 70-80 percent last year, said Desai.
Wärtsilä Bags BWM Systems Order from Jinhai Shipyard
Wärtsilä Corporation, has received an order for ballast water management systems (BWMS) for three new container ships being built for a major European shipping company at the Jinhai Shipyard in China. The vessels will be fitted with Wärtsilä Aquarius UV systems, with delivery to the first vessel scheduled for the end of 2015, and for the other two ships during 2016. This latest contract follows the order placed last year from the same company…
Aegean Marine Profit Beats Estimates
Greece-based Aegean Marine Petroleum Network Inc. (ANW) reported first-quarter earnings of $12.2 million or $0.25 per share compared with $5.1 million or $0.11 per share last year. The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share. Analysts polled by Thomson Reuters estimated earnings of $0.24 per share on revenues of $1.37 billion for the quarter.
Chevron Hires Viking Princess
Eidesvik Offshore has signed a contract for 19 months with Chevron UK employment for one platform supply vessel (PSV) Viking Princess. The vessel will be delivered to Chevron towards the end of June, and has been trading in the North Sea spot market for the past months. The Oslo-listed offshore vessel owner did not disclose the value of the deal but said in a statement it was agreed at “current market terms”. The Viking Princess is an LNG-powered vessel.
John Warner Successfully Completes Initial Sea Trials
A Virginia-class attack submarine named after former U.S. Sen. John Warner has successfully completed an initial round of sea trials, reports UPI. The U.S. Navy has completed initial sea trials to demonstrate its systems and capabilities. All systems, components and compartments were tested. The submarine submerged for the first time and operated at high speeds under water and on the surface. Huntington Ingalls Industries…
Keel Laid for Russia’s Next Generation Icebreaker
The world’s biggest nuclear-powered icebreaker keel laying ceremony took place of at the Baltic Shipyard on 26 May 2015. Heads of Atomfflot, the Baltic Shipyard and the RS Branch Office for Nuclear Vessels signed a Keel Laying Acceptance Report of the first serial nuclear-powered icebreaker, project 22220. Bookmark nuclear-powered icebreaker "Sibir" was timed to the anniversary of the Baltic plant, which on May 26 turned 159 years .
VIKING’s Top Safety Offerings at Nor-Shipping
Marine safety equipment leader VIKING Life-Saving Equipment will appear in force at Nor-Shipping 2015, displaying both innovative products and services that are proving popular with shipowners around the world. Few innovations in the safety equipment servicing arena have caught on as strongly as VIKING’s Shipowner Agreements. Based on the concept of fixed prices and centralized, single-source servicing for multi-brand safety equipment…
Fugro Extends Contract with McDermott
Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning, remotely operated vehicle (ROV) and diving services in the United Arab Emirates, Qatar, India and Saudi Arabia. Engineering and construction company McDermott currently operates two major work barges in the region as well as a large number of other support vessels.
WTO Launches Website for TFA Facility
The TFAF was created at the request of developing country and least-developed country (LDC) members to help ensure that they receive the assistance needed to reap the full benefits of the Trade Facilitation Agreement and to support the ultimate goal of full implementation of the new Agreement by all members. The TFAF will support these countries in assessing their specific needs and identifying possible development partners to help them meet those needs through a diverse number of activities.
Coast Guard Foundation Hosts Annual Tribute
The Coast Guard Foundation, a non-profit organization committed to the education and welfare of all Coast Guard members and their families, announced today that its 11th Annual Tribute to the United States Coast Guard in Our Nation’s Capital will take place on Wednesday, June 10, 2015 at the National Building Museum, Washington, D.C. The Honorable James R. Clapper, Director of National Intelligence and Admiral Paul F. Zukunft, Commandant of the Coast Guard will deliver keynote remarks.
BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract
BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development of the LNG storage and regasification facility, a part of the Ghana 1000 Gas to Power Project and Africa’s first LNG import terminal. Endeavour is co-leading development with General Electric, Eranove and local partners Sage Petroleum with the aim of providing the Ghanian government with Sub Saharan Africa’s largest power park…
Executive Changes at Transocean
Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately. Mr. Ikaheimonen has also resigned his company-appointed position as the Chairman of the Board of Directors of Transocean Partners LLC, a subsidiary of Transocean. Additionally, the company announced that Mr. Mark Mey has been appointed as Executive Vice President and Chief Financial Officer effective May 28…
LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas
The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels, is being delivered from the Sinopacific Offshore & Engineering (SOE) shipyard in China today. The vessel features a comprehensive Wärtsilä solutions package, including two Wärtsilä 50DF dual-fuel engines, Wärtsilä propulsion equipment including the gearbox…
Golden Ocean: Worst Bulk Market Since 1980s
Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades.
Aramco Offers Rare 1.5 pct Gasoil Cargo
Aramco Trading, the trading arm of oil producer Saudi Aramco, has offered a rare gasoil cargo with a 1.5 percent sulphur content for June lifting from Rabigh, traders said on Thursday.
U.S.: Stronger Response in South China Sea Needed
By releasing video of Beijing's island reclamation work and considering more assertive maritime actions, the United States is signaling a tougher stance over the…
DNV GL Names Remi Eriksen Group CEO
Remi Eriksen has been appointed as the DNV GL Group’s new president and CEO, succeeding Henrik O. Madsen, who will retire August 1. The DNV GL board of directors began an executive search and selection process in October 2014 to find and appoint Madsen’s successor due to his planned retirement after more than 30 years of service with DNV GL, the last nine years of which was spent as group president and CEO.
GE Gas Turbine to Power USCG Cutter
GE Marine reports that its LM2500 gas turbine will power the United States Coast Guard’s eighth National Security Cutter Midgett (WMSL 757). The ship will be powered by one GE LM2500 gas turbine and two diesel engines in a Combined Diesel And Gas turbine (CODAG) propulsion system. All eight ships in the U.S. Coast Guard’s Legend-class cutter program feature the same LM2500-based CODAG propulsion arrangement.
Alewijnse Success at Damen Shiprepair Dunkerque
Electrical system integrator Alewijnse Marine Systems is celebrating the first anniversary of delivering electrical services and maintenance to vessels at Damen Shiprepair Dunkerque. Twelve months after it began work there, the results are well above expectations with 19 contracts fulfilled for 10 vessels, representing a strong start, the company reports. The delivery of electrical services and maintenance…