Living Shorelines Blunt Effects of Climate Change, Says NOAA
A recent NOAA study, published in the journal PLOS One, shows “living shorelines” — protected and stabilized shorelines using natural materials such as plants, sand, and rock — can help to keep carbon out of the atmosphere, helping to blunt the effects of climate change. This study, the first of its kind, measured carbon storing, or “carbon sequestration,” in the coastal wetlands and the narrow, fringing marshes of living shorelines in North Carolina.
China Fines 8 Global Shippers
China is going after container shipping lines for freight rate abuses. The Chinese Ministry of Transport has fined a total of $65 million on price-fixing charges. The National Development and Reform Commission said in a statement that the imposed fines are equivalent to 4% to 9% of their international shipping sales “concerning transport to and from China". The investigation lasted for more than a year, the NDRC said.
Norway: EMGS in 3D EM Data Sale
Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data from the multi-client data library over the Norwegian Sea and the Barents Sea. The company did not reveal the name of the client, however, it stated that the deal is worth a total of USD 4.0 million.
Wärtsilä Solution for 15 LNG Powered Barges
A series of 15 inland waterway barges being built for Belgium based Plouvier Transport N.V., and which will be chartered by Shell Trading Rotterdam (Shell), are to be powered by Wärtsilä dual-fuel main engines. The barges will operate primarily on liquefied natural gas (LNG). Wärtsilä will also supply other propulsion equipment and its LNGPac fuel gas handling system. The ships' hulls are under construction…
APM Terminals Pipavav Reaches Out to the Physically Challenged
APM Terminals Pipavav one of Western India’s gateway ports, in association with Shri Bhagwan Mahavir Viklang Sahayata Samiti (BMVSS), Ahmedabad; SBI Mutual Fund and Shri Somnath Trust successfully organized a camp for the physically challenged individuals of Amreli of Rajula, Jaffrabad, Khamba, Savarkundla and Mahua villages. The camp was inaugurated by Mrs. Heenaben Shah, Director, APM Terminals Pipavav, Mr. P.K. Lehri, Director, APM Terminals Pipavav and Mr. Lalitbhai Jain, Chairmen BVMSS.
Survival of Fittest for 2016 Commodity Shippers
Downturn in dry freight market started in 2008; more ships expected to hit the water next year. Shipping companies that transport commodities such as coal, iron ore and grain face a painful year ahead, with only the strongest expected to weather a deepening crisis caused by tepid demand and a surplus of vessels for hire. The predicament facing firms that ship commodities in large unpackaged amounts…
Filipino Protesters Irk Chinese in South China Sea
China expressed anger on Monday after a group of Filipino protesters landed on a disputed Philippine-held island in the disputed South China Sea. About 50 protesters…
Asia-Europe Box Rates Inch Up
Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 2.7 percent to $573 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Average rates for 2015 were $607.82 per TEU compared with $1,171,50 the previous year. In the week to Friday, container freight rates rose 6.8 percent from Asia to ports in the Mediterranean, fell 0.3 percent to ports on the U.S.
Shell Exits Transocean's Polar Pioneer Contract
Transocean, one of the world's largest offshore drilling companies, said on Monday that Shell had opted to terminate its contract for the harsh environment semisubmersible…
China Fines Shippers $63 mln for Price Fixing
China has fined seven shipping companies, including Japan's Kawasaki Kisen Kaisha, a total of 407 million yuan ($62.85 million) for price-fixing, the country's state…
NORDEN Sells Capesize Vessel
NORDEN announced it has agreed to sell Nord Power, a 176,000 tdw Capesize dry cargo vessel built in 2005. NORDEN said the sale will entail an accounting loss of $12 million, which will be included in the annual results for 2015. In the long term, NORDEN said it expects to reinvest the proceeds from the sale into additional Supramax or Panamax tonnage, in line with its strategy focusing on these vessel types.
Offshore Prospects for 2016: Playing the Waiting Game?
This year, the offshore oil and gas industry has had to come to terms with the worst downturn for more than a decade. With commodity prices plummeting to an 11-year low in December, market research and consulting firm Douglas-Westwood (DW) reflects on the year gone by and considers the outlook for the year to come. Offshore rig markets still have a lot to digest before recovery. Rig dayrates have plummeted as a function of significant oversupply.
Concordia Maritime Charters Out P-MAX Tanker
Concordia Maritime announced it has chartered out a P-MAX tanker to a Chinese shipping company for two years, effective in late January or early February 2016. Kim Ullman…
Compact Genset Muffler Fits Tight Spaces
Fitting a generator and its exhaust system into a new build or a retrofit can be challenging, especially in a confined engine room. Marine Exhaust Systems said it aims to solve the space problem with its new whisper-quiet Series 4 Thinline Wall Pack Generator Muffler. Currently designed for up to 35 kilowatt gensets, the muffler is 12 inches wide, 17 inches tall and four inches deep. Its compact, low-profile size makes it suitable for any marine application…
CMA CGM Benjamin Franklin: Largest Ship to Call US
The massive CMA CGM Benjamin Franklin arrived at the Port of Los Angeles on Saturday, December 26, becoming the largest ship to ever call a North American port. Among the largest in the French shipping line CMA CGM’s fleet, the 1,300-foot-lont and 177-foot-wide containership has a capacity of nearly 18,000 twenty-foot equivalent units (TEUs) – about a third larger than the biggest containerships that currently call at the San Pedro Bay Port Complex.
Freeport-McMoRan Chairman James Moffett to Step Down
Freeport-McMoRan Inc co-founder James Moffett will step down as chairman and quit its board, months after the miner added two new directors under pressure from billionaire investor Carl Icahn.
WSF Orders Fourth Olympic Class Ferry
Washington State Ferries (WSF) will start 2016 with construction of a new Olympic Class ferry, after signing a Notice to Proceed last week with shipbuilder Vigor Industrial for work on its fourth 144-vehicle ferry. Construction begins in January, with delivery scheduled for mid-2018. Along with the Tokitae, Samish and Chimacum, the fourth Olympic Class ferry is part of a series built to replace four of the state’s oldest ferries built during the 1950s and 1960s.
More Dangerous Weather on Lake Michigan
U.S. Coast Guard Sector Lake Michigan warns of strong winds, high waves and mixed precipitation expected to create dangerous conditions in the area over the next few days…
Tundra MDS Earns ISO 28007-1:2015 Accreditation
Tundra Maritime Defense Services (MDS), the maritime division of Tundra Group, announced that it has been awarded full certification and accreditation for the recently issued ISO 28007-1:2015 (Guidelines for Private Maritime Security Companies), following an audit conducted by Lloyd’s Register Quality Assurance (LRQA). ISO 28007-1:2015 gives established guidelines to private maritime security companies…
Globus Maritime CEO Steps Down
Greek dry bulk shipowner Globus Maritime announced the resignation of Georgios Karageorgiou from the position of president, CEO and interim CFO and Director of Globus Maritime Limited. Karageorgiou is leaving for personal reasons. Athanasios Feidakis, the company's current Non-Executive Director, will replace him as president, CEO and CFO. Feidakis is the son of chairman, Georgios Feidakis. Georgios Feidakis, chairman of Globus Maritime, commented: “We thank Mr.