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…
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.
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…
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…
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…
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…
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’.
Mombasa Port Workers End Strike
Mombasa, Kenya port workers end strike and returned to work on Friday after being warned they could lose their jobs, reports Reuters. However the members of the Trade Union Congress (TUC-K) said protests over changes to their health care costs could resume next week and aims to push the government to revoke the higher deductions for its national health insurance scheme. Sylvan Mghanga, an official at the port's communications department…
NITC Claims World's Largest Supertanker Fleet
According to the head of the National Iranian Tanker Company (NITC), Iran has 42 very large crude carriers or VLCCs, each able to carry 2 million barrels of oil, reports Press TV. NITC has recently announced that after buying 20 oil tanker from China during the last two and half years, now it has 42 super-tankers with very large crude carriers (VLCC) in its navy. “No other company in the world owns that number of VLCCs,” NITC’s commercial director Nasrollah Sardashti has said.
Is It Too Late To Tangle With Spike in Shipping Market
A series of interesting and extreme price spikes is going on in the shipping market today, says Clarksons, provider of global shipping and offshore market intelligence. In fact the latest in a series of interesting and extreme price spikes is going on in the shipping market today. The graph shows the price of a 5 year old Aframax tanker divided by the price of a 5 year old Panamax bulkcarrier. The value of this ratio at the end of June 2015 was 265%, the second highest level on record.
Record Bulk Shipping Demolition Rates in 1H15
Monthly demolition rates in the dry bulk shipping sector averaged 3.3 million DWT for 1H15, according to new figures from BIMCO, compared to 1.3 million DWT last year. This included a record 5.36 million DWT in April – the highest on record for a single month. The dry bulk shipping market has been at rock bottom since February with the Baltic Dry Index staying below 600 from 2 February to 13 May – its lowest levels ever.
Caltex Replaces Australian Crew
The 36 Australian crew members of an Caltex tanker refusing to set sail after they were told their jobs would be gone after the next run. MR tanker Alexander Spirit (40,100 dwt, built 2007) is docked in Devonport, in Tasmania's north-west, now. The Maritime Union of Australia says the shipping company is moving to replace Australian workers with foreign seafarers, who they say are sometimes paid as little as $2 an hour.
Fincantieri to Supply Four OPVs to the Bangladesh Coast Guard
Fincantieri has been awarded the contract with the Bangladesh Coast Guard (BCG) for the supply of four Italian Navy “Minerva” class corvettes to be upgraded and converted into Offshore Patrol Vessels (OPVs), and to provide the related logistics support services. These units, which will be decommissioned by the Italian Navy and replaced by the new vessels covered by the fleet renewal program, have been…
Grimaldi Orders Three PCTCs
After signing an order for the construction of five new ships two weeks ago, the Italian shipowner Grimaldi Group has signed another contract for the construction of three new PCTC-type ships (Pure Car and Truck Carriers) at the Chinese Jinling shipyard, for a total investment of $165 million. These PCTCs are estimated to be delivered to the shipping company during 2017. The contract also calls for an option for the construction of an additional unit.
MSC Geneva Gets Fatter
A revolutionary new option to scrapping for younger panamax containerships deemed too small for a tradelane involves widening the vessel rather than adding length.
Search for Missing after Philippine Ferry Sinks, 38 dead
Divers will search waters in the central Philippines on Friday for 15 people still missing after a ferry carrying 187 passengers and crew sank a day earlier, killing 38 people, the coast guard said. There were 134 survivors after the MBCA Kim-Nirvana, a motorised outrigger, capsized minutes after leaving the port of Ormoc City. The number on board was revised down on Friday after it was found two crew members did not board the ferry.
U.S. Draft Recovery Plan for Threatened Polar Bears
U.S. wildlife managers released on Thursday a draft plan for stemming the decline of polar bears threatened by melting Arctic sea ice linked to global warming, but the proposal hinges on reductions in greenhouse gas emissions that are far from assured. Under a plan to be officially submitted on Monday for public comment, the U.S. Fish and Wildlife Service is urging cutbacks in carbon dioxide and other atmospheric pollutants generated by the burning of fossil fuels.
3D Printing in Rotterdam Port
Is 3D printing just a hype? Or is it really possible to print spare parts for ships that can actually withstand the requirements set for the often "rough" working practice? This question is to be answered by the project "3D printing of maritime spare parts". "27 marine related companies have formed a consortium initiated by InnovationQuarters in close cooperation with Havenbedrijf Rotterdam and RDM Makerspace. AEGIR-Marine is one of the participants.
CNOOC Acquires Asia's 1st LNG Powered Tug
China National Offshore Oil Corporation (CNOOC) has taken delivery of Asia’s first tugboat Hai Yang Shi You 525, designed to operate solely on liquefied natural gas as ship’s fuel. Hai Yang Shi You 525, the first of two tugs built by the Zhenjiang shipyard for CNOOC, features a propulsion package based on twin Rolls-Royce Bergen C26:33L9PG engines and a pair of highly reliable Rolls-Royce US 205 CP azimuth thrusters to ensure the tugs have rapid manoeuvring and strong bollard pull capabilities.
Bestobell Bags HHI's Valve Order
Bestobell Marine, a world leading supplier of cryogenic valves for ships, has won a major new order from Hyundai Heavy Industries (HHI) in South Korea to supply valves for two new vessels. Bestobell’s Globe and Check valves will be used within vessels being manufactured for Greek shipowner, Gaslog. This latest order is the result of a number of years of product development by Bestobell Marine to provide flanged Globe and Check valves to meet HHI’s unique specification.