SSE Rolls Out Two Shipping Indices
Shanghai Shipping Exchange launched on Wednesday the "Belt and Road" shipping indices, tracking trade data and shipping freight rates under the initiatives of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, reported China Securities Journal. The indices, with January 2015 used as the base period, will be released on the last Monday of every month. The Belt and Road Freight Trade Index (SRFTI)…
China Shipping Orders Eight 13500 TEU Box Ships
China Shipping Container Lines has placed orders for eight 13,500 twenty-foot-equivalent container ships at Shanghai Jiangnan Changxing Shipbuilding, continuing the aggressive fleet expansion began last year. As agreed, Jiangnan Changxing will design and build eight 135,000-TEU container ships for the subsidiary and CSTC will take charge of money collection. Contractual value is USD 934 million, or USD 117 million per unit. The newbuilds will be deployed in the Asia-U.S.
Thai Navy Lobbies for More Submarines
The Royal Thai Navy claims it urgently needs more submarines to compete with other Asian countries. The assistant commander made the claim aimed at persuading a skeptical public that the nation should invest in its military in a white paper sent to reporters, the Bangkok Post reported. The nine-page document detailing what it says are the reasons why the country needs to spend Bt24 trillion on buying three submarines from China.
Shell Moves Ahead in Arctic with Exploratory Well
Shell Oil's icebreaker MSV Fennica weaved through nine remaining protesters hanging from the St. Johns Bridge and made its way toward the Pacific Ocean. Authorities have removed protesters dangling from a bridge and in kayaks in Oregon, allowing an icebreaker to get through and head toward the Arctic, The Associated Press reported. Demonstrators had been trying to stop the Fennica from leaving Portland, Oregon, and heading for an oil drilling operation, the AP reported.
Fond Farewell to HMAS Tobruk
The Governor-General, His Excellency General the Honourable Sir Peter Cosgrove, AK, MC (Retd), together with the Assistant Minister for Defence Stuart Robert, MP, and Chief of Navy Vice Admiral Tim Barrett, AO, CSC, RAN, today attended the decommissioning of HMAS Tobruk to bid the ship a fond farewell in Sydney. “In a time-honoured tradition, the Australian White Ensign was lowered for the last time and handed to Commanding Officer, Commander Leif Maxfield,” Mr Robert said.
NOIA Applauds Senate Passage of OPENS Act
NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new areas of the OCS to energy exploration and development, extend revenue sharing to participating coastal states, and lift the outdated ban on U.S. “The National Ocean Industries Association applauds the Senate Energy and Natural Resources Committee for passing the OPENS Act…
Three Rescued on Lake Tahoe
The Coast Guard and multiple agencies rescued three people Wednesday evening after they were reported missing on Lake Tahoe. At 9:45 p.m., Coast Guard Sector San…
Fratelli Neri Orders Damen Tug
One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015. The vessel will be the first ASD tug in the Mediterranean region with a Damen Render Recovery Escort winch. The family-owned, Livorno-based harbour towage company has been in operation for over 100 years. Besides this new tug, the company has ordered two additional second-hand Stan tugs 2608 from Damen Trading.
BBC Chartering Opens Vietnam Office
BBC Chartering announces the opening of a new representative office in Ho Chi Minh City, Vietnam, starting August 1st breakbulk, and general cargo transportation due to good prospects and growth rates outperforming other countries in the region. “The strong expansion of the Vietnamese economy means increased investments and more project activity within the industrial sector of the country,” said Svend Andersen, CEO of BBC Chartering.
Hapag-Lloyd Adds Halmstad to Rotation
As one of the top global carriers Hapag-Lloyd offers a comprehensive service network and will add port of Halmstad, Sweden to the Nordic Short Sea Network. As of September Hapag-Lloyd will offer a weekly call in Halmstad, Sweden. With the existing Sweden Denmark Express Service (SDX), we can provide a competitive transit time and direct link from Hamburg/Bremerhaven.
Royal Caribbean's Profit Rises 34 Percent
Royal Caribbean Cruises Ltd, the world's second-largest cruise operator by revenue, reported a 34 percent rise in quarterly profit as passengers spent more onboard…
Calais Port Blocked Again by Protesters
Protesting ferry-workers blocked road access to the northern French port of Calais with burning tyres on Friday, police said. The workers have in recent weeks intermittently…
MHI: Notice of Absorption-Type Split Agreements
MHI gives Notice Regarding Conclusion of Absorption-type Split Agreements Relating to Transfer of Ship Construction and Hull Block Manufacture Businesses to Two Consolidated Group Companies by Company Split. On February 4, Mitsubishi Heavy Industries, Ltd. (MHI) announced intent to spin off its ship construction business to a group company, MHI Ship & Ocean Engineering Co., Ltd. and to establish a company dedicated to the manufacture of hull blocks…
South China Sea Hotline in the Works
China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of…
Cruise Industry Wins Key Norovirus Judgment
In what is being seen as a landmark decision, Hill Dickinson is the first law firm to have successfully defended a UK class action case involving a Norovirus outbreak onboard a cruise liner. The case, which involved an outbreak of gastroenteritis onboard the “THOMSON SPIRIT”, chartered by TUI UK limited and operated by Louis Cruise, was a 43-claimant class action, 28 of whom had alleged bacterial illness with the balance claiming breach of contract.
DryShips Reaches Agreement with Ocean Rig
DryShips Inc. It has reached an agreement with Ocean Rig UDW Inc. ("Ocean Rig") to exchange the remaining outstanding balance of $80 million owed to Ocean Rig under the $120 million Exchangeable Promissory Note, for 17,777,778 shares of Ocean Rig owned by the Company. The agreement was approved by a committee of independent directors. Ocean Rig's Board of Directors has decided to suspend its quarterly dividend until the offshore drilling market conditions improve.
DHS, Postal Service to Dedicate USCG Forever Stamp
U.S. Department of Homeland Security (DHS) and Postal Service leaders are scheduled to dedicate the United States Coast Guard Forever stamp during a ceremony Tuesday at Coast Guard Headquarters. The stamp is being issued as a Forever stamp and honors the Coast Guard for its role in protecting the security of the nation and advancing its vital maritime interests. Aug. 4, 2015, marks 225 years of the U.S. Coast Guard’s lifesaving legacy.
West Africa's August Crude Exports to Asia to Slip
West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed. Slower…
Thordon Bearings Secures AK Ferry Contract
Thordon Bearings has received an order to supply its COMPAC system to two Alaska Ferry newbuilds under construction at the Vigor Industrial shipyard in Ketchikan, Alaska. The Canada-based company, a supplier of seawater-lubricated propeller shaft bearings, will deliver the Environmentally Acceptable Lubricant (EAL)-compliant COMPAC propeller shaft bearing system for shaft diameters of 267mm (10.5”).
U.S. Drillers Add Rigs Despite Crude Collapse
U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June…