Tanker Futures Market Booms as Rates Rally
Freight forward agreement (FFAs) trade rises. The market for hedging oil tanker freight has revived sharply this year to a value of $4.5 billion after years of torpor…
Tropical Storm Kate Forms in the Atlantic - NHC
Tropical Depression Twelve has strengthened to Tropical Storm Kate near the Bahamas, the U.S. National Hurricane Center said on Monday. Kate, the eleventh named storm of the 2015 Atlantic season…
Svitzer Asia Formers Towage JV in Qingdao Port
Qingdao Port International Co., Ltd and Svitzer Asia last signed a joint venture agreement last week in an effort to pool resources for future growth, establishing…
Liberia Registry Launches Web-based Liability Certificate Facility
The Liberian Registry has launched a new service enabling shipowners and managers to apply online for certification under the major international liability conventions. Earlier this year, Liberia launched an online certification facility on its secure eMaritime website to expedite shipowners’ compliance with the requirements of the Nairobi International Convention on the Removal of Wrecks 2007 (WRC).
Maersk Orders BWTS for 7 Newbuilds
DESMI Ocean Guard A/S to supply ballast water treatment systems to a series of new container vessels to be built at COSCO Zhoushan shipyard in China, for Danish shipper Maersk Line. DESMI Ocean Guard announced that its RayClean ballast water treatment system (BWTS) has been selected for installation on Maersk Line’s series of new containerships to be built at COSCO Zhoushan Shipyard Co., Ltd. The order is for seven vessels each equipped with two RayClean 500 BWTS…
Massive Quay Cranes for PortSynergy / Eurofos
PortSynergy / Eurofos have purchsed a set of massive quay cranes, reportedly the largest in the world, becoming the first container terminal to operate cranes of this size. Two cranes 54 meters high with a 72 meters outreach manufactured by Paceco España will be mounted in situ on the PortSynergy / Eurofos terminal in Fos-sur-Mer near Marseille. Crane erection will begin in February 2016 with a view to commissioning in September / October 2016.
Adani to Buy Kattupalli Port from L&T
Larsen & Toubro (L&T) announced it has entered into an in-principle agreement with Adani Kattupalli Ports Private Limited (AKPPL), a subsidiary of Adani Ports and Special Economic Zone (APSEZ), for the sale of Kattupalli Port in Tamil Nadu on India’s east coast. Kattupalli, a deepwater port with an international container terminal located 35 kilometers from Chennai, Tamil Nadu, and well connected to the hinterland…
Subsea 7, Centirca Collaborate in Norway
Subsea 7 was awarded of a long-term agreement to provide support to Centrica throughout early phase Concept engineering, FEED, SURF project execution and Life of…
Maersk Line CEO Expects Shipping Consolidation to Speed Up
The world's number one container shipping company Maersk Line expects consolidation in the industry to speed up as freight rates fall due to too many vessels for too few goods, Chief Executive Soren Skou from Maersk Line said on Monday. "I expect a number of deals," Skou told Reuters in an interview. Singapore-based Neptune Orient Lines said on Saturday it is in preliminary discussions with France's CMA CGM and A.P. Moller-Maersk, which controls Maersk Line, about a potential acquisition of NOL.
Energy Firms Partner to Cut Costs in the North Sea
Petrofac, Faroe Petroleum and Eni Hewett have established a cost-saving partnership to drive efficiencies and commercial synergies across U.K. operations in the Southern North Sea. The tripartite agreement sees collaboration between Petrofac (Duty Holder) and the respective equity owners and operators of the Hewett, Schooner and Ketch gas fields to share logistics and accommodation services across the facilities.
New Tug Delivered to Vane Brothers
Baltimore-headquartered marine transportation provider The Vane Brothers Company has taken delivery of the Fort Schuyler, the latest Maryland-built tugboat to join the company’s fleet. Fort Schuyler is the 11th Sassafras Class tugboat contracted by Vane Brothers through Chesapeake Shipbuilding of Salisbury, Md. The Fort Schuyler’s sister tug, the Kings Point, was delivered in April 2015. According to Vane Brothers President C.
Crowley Formalizes New Business Segments
Crowley Maritime Corp. has formalized two new groups, Government Services and Global Ship Management, in a move that aims to better streamline its offerings to the growing government services sector and to continue expanding its global ship management business. The two new, standalone business segments, which were previously imbedded in other company business units, will allow Crowley and its personnel to better serve customers in these contracting segments.
Zamakona Repairs Spanish Hospital Ships
Spanish shipbuilding and repair group Zamakona Yards announced it has completed simultaneously repair and maintenance projects aboard two government-owned hospital ships, Juan De La Cosa and Esperanza Del Mar. The vessel Juan De La Cosa was repaired at Zamakona Pasaia yard at San Sebastian, and the Esperanza Del Ma at the yard Repnaval in Las Palmas de Gran Canaria.
PFLNG2 Keel Laid at Korea’s SHI Yard
Petronas has laid keel for its second floating liquefaction plant, Petronas Floating LNG2 (PFLNG2), in Geoje Island, South Korea. Petronas, together with JGC Group and Samsung Heavy Industries (SHI)…
Twin Disc Slashing Costs under Market Pressure
Power transmission equipment company Twin Disc, Inc., announced additional restructuring and cost reduction activities aiming to further reduce expenses, as a result…
Tropical Storm Kate Halts El Faro Salvage Operation
Salvage operations for the sunken cargo ship El Faro were suspended on Friday due to Tropical Storm Kate, which moved through the Bahamas with winds of 45 miles (75 km) per hour, U.S. authorities said. The El Faro sank off the southern Bahamas in a hurricane last month with the loss of 33 mostly American crew. Its wreck was located on the seafloor in 15,000 feet (4,500 meters) of water a little over a week ago. A U.S.
Port of Long Beach Sees Best October in 8 Years
The docks continued to be busy at the Port of Long Beach in October as cargo volume rose 6.3 percent compared to the same month last year, making for the best October in eight years, the port reported. The gains also come on the heels of the top quarter in the port’s 104-year history. Strong export growth of 6.5 percent in October buoyed the port’s overall numbers as shippers turned to the Port of Long Beach.
LNG Tanker Sails for US Sabine Pass for Inaugural Loading
Cheniere Energy's landmark Sabine Pass liquefied natural gas export plant in Louisiana will receive its first tanker for loading on Jan. 12, according to ship tracking…
Next Steps for IMO/Norad Project
Senior officials from the six southeast Asia countries benefiting from an IMO-Norwegian Development Cooperation Agency (Norad) marine environment project are meeting for a second meeting in Bangkok, November 9-10, to review progress and discuss the next steps. The project supports participating countries Cambodia, Indonesia, Malaysia, Philippines, Thailand and Viet Nam in the legal, policy and institutional…
Mayall Joins Bollinger as VP Sales/Marketing
Bollinger Shipyards announces the addition of Joe Mayhall to its corporate sales and marketing team. Bollinger president and CEO Ben Bordelon made the announcement, stating, “In his new role of Vice President, Commercial Business Development, Joe will have commercial sales and marketing responsibilities for Bollinger as well as Tampa Ship. Joe brings to the table 23 years as a solid contributor in shipyard sales and marketing.