New Binding Law of The Sea Agreement Advanced
The U.N. General Assembly (UNGA) last week adopted a formal resolution to develop a legally-binding treaty for the conservation of marine biodiversity on the ‘high seas’.
Oceans Can’t Take Any more: Researchers Fear Fundamental Change
Our oceans need an immediate and substantial reduction of anthropogenic greenhouse gas emissions. If that doesn’t happen, we could see far-reaching and largely irreversible impacts on marine ecosystems, which would especially be felt in developing countries. That’s the conclusion of a new review study published today in the journal Science. In the study, the research team from the Ocean 2015 initiative assesses the latest findings on the risks that climate change poses for our oceans…
Teekay LNG Partners Declares Distribution
Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14, 2015 to all unitholders of record as at July 14, 2015. Teekay LNG Partners is one of the world's largest independent owners and operators of LNG carriers, providing LNG, LPG and crude oil marine transportation services primarily under long-term…
Technip Samsung JV Wins 2 FLNG Project Contracts
The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome, Western Australia. The Browse project will capitalize on Shell's FLNG experience, as well as on Woodside's offshore and subsea development expertise. The first contract awarded to the Technip Samsung Consortium covers the front-end engineering design (FEED) elements of the Browse FLNG project…
Fjords Processing Bags Johan Sverdrup Contracts
Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea. The contracts were signed with Statoil on behalf of the Johan Sverdrup license. The contracts were awarded in tough competition with several larger international companies. Rune Fantoft, CEO of Fjords Processing comments: "The contracts are strategically important for Fjords Processing…
Ocean Safety, Richard Irvin Marine Safety Merger
Ocean Safety has today announced the merger with Richard Irvin Energy Solutions Marine Safety Division and their Aberdeen branch. This merger follows the 3Si Group’s recent acquisition of both companies, which are set to combine premises in Aberdeen to operate from a single expanded facility. The consolidation into the new 5,000sq ft space will facilitate the growth of the workforce, increasing sales efficiency and servicing capabilities in both the onshore and offshore maritime sector.
Carlyle Group Acquires LMC
Global alternative asset manager The Carlyle Group today announced the acquisition of Lauderdale Marine Center (LMC), the nation's largest yacht repair facility in terms of the number of large vessels it can haul and service. Equity for the transaction comes from Carlyle Realty Partners VII, a U.S. real estate investment fund. "In partnership with the outstanding management team and staff at LMC, we…
HK:Prevention of Ship Garbage Pollution
The Hong Kong SAR Marine Department has advised that on 1 July the existing Merchant Shipping (Prevention of Pollution by Garbage) Regulation (Cap 413J) was replaced by a new Regulation, namely, the Merchant Shipping (Prevention of Pollution by Garbage) Regulation (Cap 413O) giving effect to the latest requirements of the MARPOL Annex V -- Prevention of Pollution by Garbage from Ships. This new regulation applies to ships within Hong Kong waters and Hong Kong registered ships wherever they are.
Antwerp, Duisburg Ports to Upgrade Rly Link
The Port of Antwerp and duisport are intensifying their cooperation as the Port of Antwerp will participate in the existing rail shuttle service connecting the two ports. The direct rail connection from Duisburg to Antwerp was set up by the duisport Group in 2006 under difficult competitive conditions with regard to road and inland waterway transport. The decision by the Port of Antwerp to participate…
New Record Year in Dry Bulk Demolition Underway - BIMCO
The monthly average for the first six months in 2015 is 3.3m DWT. In 2014 the first half year averaged at 1.33m DWT per month. April 2015 saw 5.36 million DWT being retired from active service, which was the highest on record ever for a single month. The record came on the back of continued poor earnings and deteriorating market conditions in dry bulk shipping, evidenced by the Baltic Dry Index (BDI) staying below 600 from 2 February to 13 May.
Passenger Ferry Capsizes in the Philippines, Nearly 40 Dead
MBCA Kim Nirvana, a passenger boat carrying 189 people has capsized in the central Philippines, minutes after leaving port, the Philippine Red Cross and coast guard spokesman Cmdr. Armand Balilo said. There were 173 passengers and 16 crew members on board, according to Philippine Red Cross Chairman Richard Gordon. At least 39 have died, he said, and 134 survived. Seventeen people remain unaccounted for, he said. Regional coast guard commander Capt.
Saab Bags $1 bln Order for Swedish Submarines
The Swedish Defence Materiel Administration (FMV) has awarded contracts worth Skr8.6bn ($1.03bn) to Saab AB for the construction of two new Type A26 submarines and a mid-life upgrade for two Gotland-class submarines. Work on the two A26s is to be completed by 2024. Type A26 submarines are nearly 207 feet in length, 21 feet in the beam and have an endurance of 45 days or 18 days underwater. They have a test depth of about 658 feet.
The Submarine Electricity Transmission Market Is Expected to Reach $25 Billion in 2024
According to a new report from Navigant Research, the global submarine electricity transmission market is expected to grow from $16.8 billion in 2015 to $24.8 billion in 2024. “Over the past several years, two market drivers have emerged as dominant forces shaping this market: connecting offshore wind generation to the mainland and reconfiguring or expanding interconnections between states, countries, and regions,” says James McCray, senior research analyst with Navigant Research.
Litgas, Statoil JV to Develop Baltic Sea LNG
Natural gas supply and trading company Litgas, part of Lithuania's state owned energy holding Lietuvos Energija, and Statoil, leading global energy company in oil and gas production, signed a memorandum of understanding (MoU) on July 2nd in Vilnius, Lithuania regarding establishment of a joint venture company in Lithuania to develop small scale LNG bunkering services. The new joint venture company is planned to be established in Lithuania later this year and would supply LNG as a fuel to ships…
Greek Shipping Mulls Cyprus Move
Greek shipping companies are looking into moving to Cyprus due to the instability and uncertainty in Greece, it emerged, reports Cyprus News Agency. The director general of the Cypriot Shipping Chamber, Thomas Kazakos, said that a small number of Greek shippers have contacted Cypriot authorities for information on the procedures required and the tax system on the island. “Bearing in mind the developments in Greece…
Port Gothenburg Offering LNG
Ships running on liquefied natural gas (LNG) are going to be able to bunker at the Port of Gothenburg, as new regulations for LNG bunkering have been introduced by the Gothenburg Port Authority in collaboration with the Port of Rotterdam and the Swedish Transport Agency. The regulations will allow cargo ships to bunker LNG at a cargo terminal and are the first general regulations to be introduced in Sweden.
NITC Tankers Chart Western Course
Iran’s largest shipping company NITC, the privatized Iranian shipping company, is in talks for permission to sail in Western waters, says a report in WSJ. NITC has amassed the world’s largest fleet of super tankers and is in talks to sail back into western waters should the Islamic Republic strike a nuclear deal. Managing director of NITC Ali Akbar Safaei confirmed to the Wall Street Journal that the company is in discussions with London’s Protection & Indemnity pool of insurers.