Shipping Market in 2015 & Looking Forward - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economic activity looked stronger earlier in the year. The negative indicators seen at the end of 2014 were not overcome, and we saw a significantly lower level of growth for global GDP in 2015 than in the previous five years. This was primarily due to the struggling emerging markets and developing economies, led by changes in China’s economic focus.
NTSB Releases El Faro Images & Video
Subsea images and video released as part of NTSB public docket on investigation into the sinking of U.S. cargo ship El Faro. Underwater video and images of the sunken cargo ship EL Faro have been released by the U.S. National Transportation Safety Board (NTSB) as part of its continuing investigation into the vessel’s sinking in the Atlantic Ocean in October. The docket opened by NTSB includes nine underwater images of El Faro wreckage on the seafloor…
ClassNK Open Survey Office in Novorossiysk
ClassNK opened a new exclusive survey office in Novorossiysk, Russia with operations beginning January 1, 2016. Novorossiysk is a port city in southwest Russia facing the Black Sea. It is the country’s main port on the Black Sea and a leading Russian port for trade with Asia, the Middle East, the Mediterranean region, Africa and South America. The Novorossiysk office joins an existing network of survey offices throughout the region including in Constanta (Romania) and Istanbul (Turkey).
ST Engineering’s Secures $344m in 4Q2015
Singapore Technologies Engineering Ltd (ST Engineering) said that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured new orders worth about…
Coast Guard Advises Western River Closures, Restrictions
The United States Coast Guard has issued a number of river closures, restrictions and advisories in response to floods in the Midwest. To keep the public and professional mariners apprised of changes to river traffic, the 8th District will continue to issue press releases capturing all closures and restrictions throughout this period of high water and flooding. Upper Mississippi River closed between mile markers 184 and 179 near St. Louis, Missouri.
COSCO, China Shipping Merger Will Creat New Firm
China Ocean Shipping Group Co (COSCO) and China Shipping Group Co will become a new entity after merging, led by the latter's current chairman, China's state-owned assets regulator said on Monday.
Unipec Delivers 1st al-Shaheen oil in Platts Process
Unipec, the trading arm of Asia's largest refiner Sinopec, will deliver the first al-Shaheen crude cargo to Chinaoil following trades during the Platts Market on…
Asia-Europe Box Rates Soar 115 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 115 percent to $1,232 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. Average rates for 2015 were $620.30 per TEU compared with $1,171.50 in the previous year. In the week to Friday, container freight rates soared 146.5 percent from Asia to ports in the Mediterranean, jumped 98.2 percent to ports on the U.S.
Islamic State Attacks Libya's Es Sider Port
Islamic State fighters clashed with security forces near Libya's Es Sider oil export terminal on Monday killing two guards and setting an oil storage tank on fire…
Recent Vessel Sales - December 2015
Vessel sales for December 2015 (as of January 1) as prepared by Shipping Intelligence, Inc., New York.
Baltic Index Nears All Time Lows on Weak China Demand
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Monday inching near all-time lows, dragged down by weak Chinese demand.
DHT Takes Delivery of VLCC Newbuild
Crude oil tanker shipper DHT Holdings, Inc. has today taken delivery of a newly built 299,900 dwt very large crude carrier (VLCC) from Korean shipbuilder Hyundai Heavy Industries. The new ship, DHT Leopard, will enter the spot market as the second vessel in a series of six fully funded VLCC newbuilds to be delivered to DHT from November 2015 to October 2016. The first ship in the series, DHT Jaguar, was delivered November 23, 2015. The next newbuild is scheduled for delivery in early April 2016.
Digital Thruster Panel for Smooth Docking
Twin Disc announces its new Digital Thruster Panel. The unit complements the company's EC300 Power Commander electronic propulsion control and Express Joystick System (EJS). Built of polished stainless steel, the Digital Thruster Panel is engineered rugged for a marine environment, making it suitable for helms, flybridges and docking stations. The ergonomic toggles are sized for easy use. It is available in dual or single versions.
Nominations Sought for NOIA Safety Awards
The National Ocean Industries Association (NOIA) announced it is accepting nominations for the 2016 Safety in Seas Awards competition. The Safety in Seas Awards…
Crowley Invests $25.5 Mln in Containers
Crowley Maritime Corp.’s liner services group has invested $25.5 million in new cargo carrying equipment. The units will include 325 x 20-foot chassis, 500 x 45-foot (102-inch wide) dry containers, 600 x 53-foot (102-inch wide) dry containers, 400 x 53-foot chassis and 440 generator sets (gensets), some of which are underslung and some that are nosemount. This latest upgrade to the equipment fleet follows the company’s acquisition earlier this month of 400 new 40-foot…
Great Lakes Shipyard Completes USACE Repairs
Great Lakes Shipyard announced it has completed a multi-vessel drydocking and repair contract for the United States Army Corps of Engineers (USACE) Detroit District Floating Plant, and all vessels were redelivered on December 28, 2015. This was the first time the Detroit District Floating Plant has been drydocked using Great Lakes Shipyard’s 700 metric ton capacity Marine Travelift. The shipyard hauled out Tug Demolen and Deck Scow BC-6576 on October 26…
US Ports See Improved Radiation Detecting
Department of Homeland Security, Customs and Border Protection (CBP) is improving radiation scanning equipment used at many of our nation's ports of entry. Radiation portal monitors (RPM) now better detect radiological threats while alarming much less frequently on nonthreatening materials, resulting in big savings. The improvements, known as Revised Operational Settings (ROS), are being implemented…
Troy Container Lines Secures Rotterdam Agent
American-owned NVOCC Troy Container Line announced it has secured a new agent partnership agreement with Rotterdam-based NVOCC NVO Consolidation for both LCL and…
This Day In Naval History - January 04
1910 - USS Michigan, the first U.S. dreadnought battleship, is commissioned. 1943 - USS Shad (SS 235) sinks German minesweeper M 4242 (ex-French trawler Odet II) in the Bay of Biscay. 1944 - USS Bluefish (SS 222) and USS Rasher (SS 269) attack a Japanese convoy off French Indochina; Bluefish sinks a merchant tanker while Rasher damages another tanker. Also on this date USS Cabrilla (SS 288) sinks a Japanese freighter off Cape Padran…
Subsea 7 Secures Contract Offshore Egypt
Offshore services provider Subsea 7 S.A. announced today it has been awarded a contract from Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of the Taurus and Libra fields by BP, offshore Egypt. Subsea 7 did not specify a precise contract value, but called the award “sizable” in the range of $50 million to $150 million. Subsea…