Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii
Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service. With winds gusting up to 115 miles per hour (185 kmph), the hurricane centered 835 miles (1,344 km) southeast of Honolulu and 625 miles (1,006 km) south east of Hilo was moving northwest at 8 miles per hour (13 kmph), said center spokesman Neil Honda.
Syncrude Uncertain about Plant Fire Affecting Production
The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze, at Syncrude Canada's Mildred Lake upgrading complex in northern Alberta, and no one was injured, said company spokesman Will Gibson in a phone interview. The fire broke out a few hours after the province's energy regulator announced it was shutting in 95 pipelines operated by Nexen…
Britain Pumps GBP500mln into Scottish Naval Base
The Royal Navy’s submarine base at Faslane – home to Britain’s nuclear deterrent – is to receive a more than 500 million pounds investment grant from the Government, reports Reuters. Chancellor George Osborne says this move will safeguard 6,700 jobs at the Scottish site and create thousands more. Faslane would be the base for the new submarines. The Faslane naval base on the River Clyde, east of Glasgow…
CSDC Profts Soar
The bulker and tanker unit of state conglomerate China Shipping Group, China Shipping Development Co (CSDC) has delivered a first half performance which saw its profit spike, exceeding the company's latest forecast. CSDC has recorded a six-fold increase in profit in the first half of this year, mainly supported by a strong tanker market and lower income tax. It has recorded a six-month profit of $46.96m, a jump of 602.1% from the same period of 2014.
Eni Finds Giant Egyptian Offshore Gas Field
The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The Zohr gas field covers any area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades. Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas.
Strong Returns for Sovcomflot
Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months. It has posted a gross revenue increase of 11.8 per cent in the first half of 2015 worth USD 754.9 million against last year’s equivalent of USD 675. 2 million. In addition, the company’s net profit marked a hike from USD 63.6 million in 2014 to USD 216.3 million in the first six months of this year.
Goldenport Bleeds in Red
Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier as revenue fell by a quarter to USD18.5 million from USD24.7 million. Earnings before interest, tax, depreciation and amortisation came in at USD4.4 million, over a 40% fall from USD7.6 million. "For the six months ended 30 June 2015, the Company reported a 25.2% decline in revenues…
Optimistic on VLCC Market
Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards. The demand is expected to remain elevated with spot voyages generating around 940 bln ton-miles per quarter, on average, during 2016 – around 1.0% above our current estimate for 2015, says its latest weekly analysis. Augmenting the impact of ton-miles on earnings is the increasing diverse geographic profile of trade routes…
Keppel Acquires Cameron's Rig Business
Singapore's Keppel Offshore & Marine (KOM), via subsidiary, Keppel Offshore & Marine USA has inked a deal with Cameron International Corporation, a US-based oil and gas solutions provider, to acquire its offshore rigs business for US$100mln. This segment is made up of Cameron's proprietary LeTourneau jack up rigs designs, its rig kit business, and aftermarket services. The LeTourneau jack up rigs…
Obama Defends Arctic Oil Drilling
United States' President Barack Obama defends his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean. He insisted that there was no contradiction between his climate change agenda and Arctic drilling. “I share people's concerns about offshore drilling,” Obama said, while emphasizing that Shell bought its exploration leases before he took office. His televised message did not stop…
Australian Defence Unveils Indigenous Artwork
Defence today unveiled an Indigenous painting at its Science and Technology headquarters in Canberra as a mark of respect for cultural diversity within the organisation. The artwork, Song Cycle of the Seven Sisters, painted by award-winning Indigenous artist Anthony Walker, was unveiled by the Secretary for Defence, Dennis Richardson, Chief Defence Scientist Dr Alex Zelinsky, and Elder of the Ngunnawal people, Aunty Agnes Shea.
Ships' lifting Apparatus at Abu Dhabi Ports
- Crane malfunctions that includes the crane hydronic system and pneumatic system. - Outreach of crane is not fulfilling the operational requirement. - Failure in control systems. - Failure in emergency stop function. - Failure of crane wire / cable. - Power supply problems / potential problems. - Corrosion / Long-term abrasion. - Bent or cracked hooks. - Absence of hook safety latch. If a ship's lifting apparatus is rejected…
Hurricane Ignacio Will not Affect Hawaiian Port Operations
The Coast Guard Captain of the Port continues to closely monitor the movement of Hurricane Ignacio and based on the storms current trajectory to the northwest it does not appear that the closure of commercial ports in the Hawaiian Islands will be necessary. As a precaution, the COTP has moved the ports of Hilo and Kawaihae on the Big Island and the ports of Kaunakakai and Kahului in Maui County to…
Hitachi Gas Supply System Order for MHI
Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines. In lieu of conventional heavy oil, the system supplies liquefied natural gas (LNG), injected under high pressure, to the engine. This configuration curbs emissions of sulfur oxides (SOx), nitrogen oxides (NOx) and carbon dioxide (CO2), thus contributing to reduction of environmental loads.
HMAS Canberra Initial Operational Capability
The Royal Australian Navy’s Amphibious Ship, HMAS Canberra, has completed a graduated operational test and trials program to achieve a key milestone towards Initial Operating Capability. The program included integration of landing craft as well as trials for both the crew, ship and aviation systems. The Navy’s S70B Seahawk, Army’s S70A Blackhawk and the joint MRH-90 Taipan helicopters have now all been evaluated for operations from the Canberra class ships.
HHI Orders Regasification Systems from Wärtsilä
South Korean shipyard Hyundai Heavy Industries (HHI) has ordered two seawater/propane based regasification modules from Wärtsilä. The systems are to be installed on floating storage and regasification unit (FSRU) vessels owned by Höegh LNG, the Norway based owner and operator of floating energy solutions, and by Russian energy company Gazprom. The contracts, which were signed in July, also include…
CMA CGM 2Q Post Higher Profit
* Volumes carried during the second quarter increased by 6.2% year-on-year, to 3.3 million TEUs, compared to global market volume growth of between 1% and 2%. * Average revenue per container carried decreased by 7.8%. However, this decrease was significantly less than benchmark indices for the period due to the broad diversity of the Group's customers and lines. * Unit costs fell 10.9%, largely due to the sharp fall in oil prices.
BIMCO Outlines LIS Week Schedule
BIMCO’s breakfast brief, titled “The Future Of Maritime Security” is aimed at CEOs and Directors who will have an opportunity to hear more on the latest threats facing merchant vessels operating in risk prone areas, how this threat is calculated by the military, and what the industry should be doing to ensure their fleets are best equipped to face any future threats. Giles Noakes, Head of Security at BIMCO said…
CMA CGM-led Consortium Win Box Terminal Bid
The consortium formed by CMA CGM, Bolloré and CHEC won the bid process initiated by the Cameroonian government Following the bidding procedure initiated by the Cameroonian government, the consortium formed by the French companies - CMA CGM and Bolloré - and the Chinese CHEC (China Harbour Engineering Company) won the 25 years concession. The Cameroonian government has chosen a French-Chinese consortium offering all the technical and financial guarantees.
Greek Coastguard Rescues 2,500 over Three Days
Greece's coastguard has rescued about 2,500 migrants and refugees off the country's eastern islands over the past three days, authorities said on Monday, as the…