Boxship Fleet Growth is Slowest in 25 Years
Global container ship capacity is expected to increase by 4.6 percent in 2016, the slowest growth rate in more than 25 years, giving some relief to an industry hammered by oversupply, consultancy firm Alphaliner forecast on Tuesday. Freight rates have plunged, driving many shipping companies into losses, as global trade has failed to keep pace with the number of new vessels entering the market in recent years.
Fredriksen forms ship broker with Arctic Securities
Norwegian-born billionaire John Fredriksen has teamed up with investment bank Arctic Securities to form a ship broking company aimed at taking on bigger rivals and…
Maritime Simulation: Transas launches THESIS
More than 400 delegates representing maritime training centres, shipping companies, certification societies, maritime administrations, and suppliers from all over the world, gathered in Singapore for the IVth Simulation User Conference hosted by Transas. During his keynote speech, Frank Coles introduced THESIS, the Transas Harmonized Eco System of Integrated Solutions. “Ship, ship operations office…
COSCON Selects CargoSmart’s Carrier IT Solutions
CargoSmart Limited, a shipment management software solutions provider that leverages big data for greater visibility and benchmarking, announced that COSCO Container Lines Co. Ltd.
Polar Expedition Vessel to be Built in Croatia
Bureau Veritas (BV) is to class a new concept luxury expedition cruise vessel to be built for Australia’s Scenic group. The 165m vessel will be built at Croatia’s Uljanik shipyard for delivery in summer 2018. It will have lower berth accommodation for 228 passengers and 172 crew and will meet the requirements of the newly adopted Polar Code allowing operation for a certain period of the year in Polar waters.
Concordia Maritime Signs Time Charter Contract for P-MAX Tanker
Concordia Maritime signed a contract to charter out another P-MAX tanker. The contract, which comes into effect at the beginning of February 2016, is for one year with an option for a further year.
Namura Shipbuilding introduces ClassNK-NAPA GREEN
The fleet performance management and optimization system ClassNK-NAPA GREEN jointly developed by leading classification society ClassNK (Chairman and President: Noboru Ueda) and maritime-software…
Damen Takes on Six Viking River Cruises Vessel Jobs
Damen Shiprepair Amsterdam (DSAm) reports that it is currently working on a modification and maintenance contract for six inland cruise vessels owned by Viking River Cruises. With this winter service complete, all six vessels – known as longships – will be ready for the coming river cruise season. The Viking Idi was the first of the six to arrive at the yard in late December 2015. Sister ships Viking Idun, Viking Kvasir, Viking Kara, Viking Hlin and Viking Gullveig will follow consecutively.
Boardley, Brown Promoted at LR
Lloyd’s Register announced two significant organization changes: Tom Boardley steps up to a new role as Executive VP and Global Head of Corporate & External Affairs and Nick Brown is promoted to Marine Director. “We are organising our business to make sure that we have the capability to meet whatever challenges emerge as we continue to support clients in their drive for increased assurance and performance of their businesses and assets.
GPA Hits Record Volume Growth of 11.7%
The Georgia Ports Authority achieved record container volumes in 2015, Executive Director Curtis Foltz reported to the GPA board Monday. Over the last calendar year, the Port of Savannah moved an all-time high 3.73 million twenty-foot equivalent container units, an increase of 391,356 TEUs, or 11.7 percent compared to CY2014. "The expansion was fueled in part by heightened demand in the U.S. Southeast…
30 Scientists to Study O&G in Arctic Ice, Vladivostok
Today Vladivostok-based Far Eastern Federal University (FENU) opened the International School of Ice Ice Mechanics to 30 students and young scientists from Russia, China, Korea, India, Indonesia and Norway. They will study the basics of field development of oil and gas in the Arctic ice of Amur Bay Vladivostok. Also they will explore the properties of ice and arrangements for its impact on the offshore oil and gas platforms.
ICTSI Wins “Best Corporate Bond” Award
International Container Terminal Services, Inc.’s (ICTSI) US$450 million perpetual capital securities issue was recently recognized as the Philippines’ best corporate bond at the The Asset Triple A Country Awards 2015. ICTSI issued last August the well-structured perpetual securities that were arranged by Citi, Credit Suisse and Standard Chartered. The issuance generated more than US$1.8 billion of demand from banks, institutional investors and private banking accounts. Rafael D.
Aker Bags Johan Castberg FPSO Concept Study
Aker Solutions has secured an order from Statoil to provide a concept study for a floating production, storage and offloading facility for the Johan Castberg oil field development in the Barents Sea. The order is a call-off by Statoil on an engineering contract for Johan Castberg won by Aker Solutions in 2013. "We've worked with Statoil for two years on finding a cost-effective solution that will enable development of this strategically important oil field in northern Norway…
Delivery of 100th Wärtsilä 34DF Marine Engine
The 100th Wärtsilä 34DF dual-fuel marine engine will be delivered from the factory in early 2016. This delivery will represent part of an order for three new large escort tugs being built for Norwegian operator Østensjø Rederi. The ships will operate at Statoil's Melkøya terminal near Hammerfest in Norway. "This milestone delivery further emphasises the popularity of this engine and highlights Wärtsilä's leadership position in dual-fuel technology.
Consistent Growth from Contship Italia Group
Continuing support from key markets across Asia helped Contship Italia Group, the leading container terminal and intermodal transport operator in Italy, to report a steady set of results for 2015. Contship Italia Group terminals handled a total of 6.3 million TEUs last year on the back of increased volumes at La Spezia Container Terminal (LSCT), its main gateway for Asian cargo. LSCT, with four weekly calls from China…
Swire Bulk Expands Atlantic Footprint
Swire Bulk, the dry bulk operating arm of The China Navigation Company (CNCo), opened an US Atlantic desk in the City of Miami, Florida, United States, on 25 January 2016. This new desk, headed by Ronald Cellucci, Swire Bulk’s newly appointed Regional Office Manager for Atlantic North America, is located at the Brickell City Centre. Andrew Kidd, CNCo’s Swire Bulk General Manager, said, “The Miami desk…
Hong Kong to Conduct Dolphin Survey
(A) 22 deg. 23.920’N / 113 deg. (B) 22 deg. 23.458’N / 113 deg. (C) 22 deg. 23.034’N / 113 deg. (D) 22 deg. 18.560’N / 113 deg. (E) 22 deg. 18.910’N / 113 deg. (F) 22 deg. 19.024’N / 113 deg. The acoustic monitor is an instrument for collecting dolphin data. It is a structure of pyramid shape with a height of about 0.8 metre and a square base of 1.0 metre by 1.0 metre. Its bottom will be embedded in the seabed.
MSC Monica Refloated
Panama-flagged container ship MSC Monica, which ran aground on the St. Lawrence River near Saint-Laurent, Quebec city, Canada on January 22, was refloated, according to the Transportation Safety Board of Canada (TSB). The 43,618 dwt container vessel was sailing from Montreal to St. Johns in Newfoundland. The Mediterranean Shippgng Co (MSC) company owned ship refloated on Saturday after deballasting 2,000 tons of water and with the assistance of three tugs of Ocean Group, came from Quebec.
Electric Boats Look Bullish
General Dynamics Electric Boat expects to hire nearly 4,000 people in the coming years as it ramps up production on Navy submarines, the Associated Press reports. Electric Boat is projecting a positive outlook for 2016 for revenue and employment, saying 1,800 more workers will be hired at its facilities in Connecticut and Rhode Island this year. Electric Boat, a subsidiary of General Dynamics Corp., employs 14,100 people, mainly in Connecticut.
Statoil's LNG Price for Lithuania to Fall by a Third
Liquefied natural gas (LNG) price from Norwegian company Statoil ASA for Lithuania is set to fall by more than one-third and the Klaipeda LNG terminal's maintenance costs are to decline by around 23% after Lithuania's gas trade company Litgas completed talks with the Norwegian supplier on a revision of their long-term gas purchase contract, reports LETA/BNS. According to Dalius Misiunas, CEO of the state energy group Lietuvos Energija (Lithuanian Energy)…