SFL Orders 2 Product Tankers
Ship Finance International Limited (SFL), announced today that it has agreed to build two 114,000 dwt LR2 oil product carriers at a shipyard in Korea. The vessels…
US Oil Drillers Add Rigs for First Week in Five
U.S. energy firms this week added oil rigs for the first time in the last five weeks, data showed on Friday, despite continued weak crude prices. Drillers added 17 oil rigs in the week ended Dec.
Methanol a Viable Marine Fuel -Report
Methanol has a "historic opportunity" as a marine fuel, according to a new report published today by research group FCBI Energy. Despite having many attributes that make methanol an attractive, low-emissions marine fuel, it has sometimes been overlooked in policy and industry discussions, according to FCBI Energy, whose report Methanol as a Marine Fuel finds the chemical to be a well-understood and safe to handle as a viable alternative to changing to low sulfur diesel…
Baltic Index Up as Demand for Bigger Vessels Lends Support
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday after reaching an all-time low on Wednesday.
Shell to Charter 15 LNG-powered Barges
Shell Trading Rotterdam BV (Shell) has signed a time-charter agreement with Plouvier Transport NV and Intertrans Tankschiffahrt AG for 15 new inland dual-fuel barges, which will predominantly run on Liquefied Natural Gas (LNG). The barges, built by the Dutch shipyard VEKA Shipbuilding BV, will support Shell’s business in trading and transporting mineral oil products in the ARA (Amsterdam-Rotterdam-Antwerp) and Rhinetrack (Germany/Switzerland) regions. Dr.
FERC Approves Lake Charles LNG Project
The U.S. Federal Energy Regulatory Commission (FERC) has granted approval for the Lake Charles LNG export project, which will see the construction and operation…
New Tank Coating from Hempel
Marine paints manufacturer Hempel announced the launch of a new pure epoxy tank coating, Hempadur 15460, to replace its Hempadur 15400 tank coating. Hempadur 15460…
CEO Will Not Return: Fredriksen
Norwegian-born billionaire John Fredriksen said Jo Lunder, who has been on leave as chief executive of his Fredriksen Group since November, would not come back,…
Pentagon to U.S. Navy: Buy fewer LCS Ships, More Planes
Defense Secretary Ash Carter ordered the U.S. Navy in a sharply worded memo this week to buy 12 fewer small littoral combat ships (LCS) and more fighter jets, electronic…
China: South China Sea War Games Underway
China's military carried out war games in the disputed South China Sea this week, with warships, submarines and fighter jets simulating cruise missile strikes on ships…
BG, Energy Transfer get Nod for Lake Charles LNG
BG Group and Energy Transfer Partners have gained approval from the U.S. energy regulator for their liquefied natural gas (LNG) production and export plant in Lake Charles…
Asia-Europe Box Rate Drop Continues
Freight rates on world's busiest route down 20.6 pct; forward contracts indicate continued weak 2016 market. Shipping freight rates for transporting containers from ports in Asia to Northern Europe plunged by 20.6 percent this week and there is nothing to indicate that shippers can expect better rates in 2016, a container derivatives trader said. Freight rates for transporting 20-foot container (TEU)…
New Deep-Sea Vents, Volcanic Activity Found in Mariana Back-Arc
Schmidt Ocean Institute’s research vessel Falkor returns from the first ever expedition to systematically characterize the rarely explored Mariana Back-Arc. HAGANTA, GUAM – A diverse team of scientists are returning from a 28-day expedition onboard R/V Falkor that has more than doubled the number of known hydrothermal vent sites in the Mariana Back-arc region. This area, west of the Mariana Trench, is where plate spreading and submarine volcanism are concentrated.
MAN Diesel and Turbo to Power Giant Crane Vessel
MAN Diesel & Turbo has signed a contract with Sembcorp Marine in Singapore to supply the dual-fuel propulsion system – including exhaust-gas after-treatment – for a New Semi-submersible Crane Vessel (NSCV) for Heerema Offshore Services. The scope of the contract – signed on 30 October, 2015 – provides for 12 × MAN 8L51/60DF four-stroke engines + 12 × MAN SCR (Selective Catalytic Reduction) systems.
Navy to Christen Littoral Combat Ship Omaha
The Navy will christen its newest Independence-variant littoral combat ship, USS Omaha (LCS 12), during a 10 a.m. CST ceremony Saturday, Dec. 19 in Mobile, Alabama. Omaha, designated LCS 12, honors the city of Omaha, Nebraska. The Honorable Ray Mabus, secretary of the Navy, will serve as principal speaker. Susie Buffett, an Omaha philanthropist and daughter of Warren Buffett, chairman and chief executive of Berkshire Hathaway Inc., will serve as the ship’s sponsor.
SAL Remains in Troubled Waters
The running year turned out as a tough year in shipping. Despite a raft of technical projects for the company, the stinging tale of the low oil price created a steep downturn in the global offshore industry as well as leaving many projects deferred or cancelled. As a result SAL concludes 2015 with significant project references, but also with the marks of the general challenges in the shipping industry.
Double Record set by Antwerp Port
The port of Antwerp is on course to handle more than 200 million tonnes of freight this year for the first time ever. And in container transhipment too a new record has been set, with more than 9 million TEU (twenty-foot equivalent units, i.e. standard containers) being handled. In comparison with last year nearly 8% more containers will be transhipped. With these growth figures Antwerp is performing significantly better than Rotterdam and Hamburg…
Injured Veterans Back on Water, Courtesy GAC
Military veterans will soon have another outlet to channel and share their experiences, on a restored wooden yacht in California, thanks in part to GAC worldwide. The GAC Group’s five regions have donated to support the Wooden Boats For Veterans foundation (WBFV) – an organization that helps veterans harness their power of past military experiences. The foundation currently has two boats in operation and is in the process of restoring a 1938 wooden yacht…
Global Shipbuilding to Turn Around in 2017: Castrol
Despite a marginal deterioration in the growth outlook for the global shipbuilding industry, annualized five-year growth rates for the sector are still forecast to reach a healthy 3 to 5%, before picking up substantially after 2017, says Castrol Marine Trade Barometer. The Barometer predicts that growth will be driven largely by the Asia-Pacific region, but also Latin America and the Middle East. All European nations but the Netherlands face a downward trend until 2017.
Latvian Shipping's IPO in 2016
Marine petroleum transportation specialist Latvian Shipping Company (LSC) hopes to raise EUR 80 million via an initial public offering (IPO) on the Riga Stock Exchange in the first half of 2016. The Supervisory Council of LSC has supported the Management Board’s proposal to raise the equity capital in the IPO. LSC is looking to double its share capital and raise equity of EUR 80mn in order to pay down existing debts due in 2016 and 2017.