Asia Dry Bulk-Capesize Rates Likely to Remain Flat
Freight rates for capesize bulk carriers on key Asian routes are likely to stay flat as vessel volumes outpace cargo demand and the approaching Chinese New Year holiday further dampens chartering activity, ship brokers said on Thursday. There is little hope of any improvement in rates, which remain at near 16-1/2-year lows, even after the Chinese New Year holiday which starts on Feb. 7, brokers said.
Caterpillar Q4 Revenue Dips 23 pct
Caterpillar Inc's quarterly revenue slumped 23 percent as weak commodity prices and slowing economic growth in developing countries hit demand for its products.
USCG Search for Dinghy Owner near Kaneohe Bay, OAHU
The Coast Guard is seeking the public's help identifying the owner of a 13-foot white sailing dinghy found near Kaneohe Bay, Wednesday. Anyone with information that may help identify the owner of the sailing dinghy is asked to contact the Coast Guard Sector Honolulu Command Center at 808-842-2600808-842-2600 FREE FREE. Watchstanders at the Sector Honolulu command center received a report at 5:25 p.m.…
Pilbara Ports being Evacuated
Pilbara Ports Authority has commenced evacuating the inner and outer anchorages at the Port of Port Hedland, as a tropical low, 315km from Port Hedland, continues to track toward the Pilbara coast in a southerly direction at six knots. The evacuation of vessels at both anchorages is expected to be complete by midday (AWST). The Port of Dampier is expected to begin evacuating vessels from the outer anchorage from 6pm tonight (AWST).
Supreme Court Stays Green Tribunal Order on Adani Hazira Port
Adani Hazira Port Private Limited (AHPPL), a 100% subsidiary of Adani Ports and Special Economic Zone Limited, had challenged the order dated 8.1.2016 passed by the National Green Tribunal, Pune, inter alia, cancelling the EC 3.5.2013 for expansion of facilities at Adani Hazira Port. The matter was heard by the Hon'ble Supreme Court today and the Court has stated that the port operations can continue as usual. Therefore, there is no impact on port operations.
Evergas Acquires 4th multigas LNG vessel
Evergas’ latest addition to its fleet, the 4 th ‘dragon class’ 27.500 cbm multigas LNG carrier in a series of eight was successfully named today the 28th of January, at a ceremony at the Sinopacific Offshore & Engineering (SOE) shipyard in Qidong, China. The state-of-the-art carrier was named JS INEOS INSPIRATION. The vessel bear a distinct dragon symbolizing its Chinese and Western heritage. The dragon chosen to sail and protect JS INEOS INSPIRATION is the King of Earth…
IACS 2016 Blue Book Launched
The International Association of Classification Societies is pleased to announce the release of the 2016 edition of its IACS Blue Book. The latest release of the Blue Book package continues to enhance IACS technical support to the shipping industry through our work and investment in technology, innovation, research and development both at the classification and statutory levels. The Blue Book is an…
MOL Car Carrier Rescues Castaway
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that on January 20, 2016, the MOL-operated car carrier TRIUMPH ACE safely rescued a survivor about 80 km offshore of Mexico. ・At 08:50 (all times in local time) on January 20, 2016, the TRIUMPH ACE, sailing from the Port of Mazatlán, Mexico to Port of Balboa, Panama found a drifting person and immediately changed course to approach the castaway, and started rescue operations.
Stolt-Nielsen Profits Dip
Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for the fourth quarter ended November 30, 2015. Net profit attributable to shareholders in the fourth quarter was $21.4 million, with revenue of $494.6 million, compared with a net profit of $30.1 million, with revenue of $500.7 million, in the third quarter of 2015. Net profit attributable to shareholders for 2015 was $132.7 million…
Wärtsilä, Ensco Ink Maintenance Deal
Wärtsilä, the leading global supplier of flexible and efficient power plant solutions and services, has signed a maintenance agreement with Ensco, a global provider of offshore drilling services to the petroleum industry. The agreement, signed in September 2015, will create both short- and long-term savings by optimising Ensco's assets and improving predictability through extensive condition monitoring…
ABP Invests £5 mln in Centre at Grimsby Port
ABP has confirmed £5 million investment in a purpose-built Marine Control Centre at the Port of Grimsby. The new facility, which will be arranged over four floors, will replace the existing Vessel Traffic Services centre at Spurn Point, which has become increasingly difficult to access by land because of the progressive deterioration of the peninsula. ABP Director Humber Simon Bird said: “The Spurn…
GAC’s Meena Wins IMC Golden Shield Award
The International Maritime Club presented Meena Mathews, GAC’s Regional P&I Manager for the Middle East, with its Excellence in Marine Claims Management accolade at the IMC Excellence Awards ceremony at the Ocean Blue in Sharjah, UAE, this week. Mathews was nominated by the Club’s committee of industry specialists for her work in protection and indemnity and insurance over the last year. She received her award from The Dubai Council for Marine & Maritime Industries (DCMMI) Chairman…
G E Shipping Acquires Product Tanker
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2005-Japanese built Medium Range Product Tanker “Jag Padma” of about 48,000 dwt. The company had contracted to buy the ship in December 2015. With the inclusion of the vessel, the Company’s current fleet stands at 31 vessels, comprising 22 tankers (8 crude carriers, 13 product tankers, 1 LPG carrier) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 5 Supramax) with an average age of 10.6 years aggregating 2.4 mn dwt.
Critical Habitat for Endangered North Atlantic Right Whale
Using new information not previously available, NOAA Fisheries is expanding critical habitat for endangered North Atlantic right whales to cover its northeast feeding areas in the Gulf of Maine/Georges Bank region and southeast calving grounds from North Carolina to Florida. This final rule, which was initially proposed in February 2015 and received 261 general comments over a 60-day comment period, does not include any new restrictions or management measures for commercial fishing operations.
C&W Networks Selects Xtera for Submarine Cable Upgrade
C&W Networks, part of Cable & Wireless Communications (CWC), the largest telecommunications service provider across the Caribbean, Central America, Mexico and United States with more than 48,000 miles of subsea fiber-optic network has selected Xtera Communications, Inc., a leading provider of high-capacity, cost-effective optical transport solutions, for upgrading its submarine cable systems in the western Atlantic ocean and the Caribbean Sea to 100G.
Chinese Boat Capsizes off South Korea
South Korean maritime police on Wednesday withdrew divers after they failed to find at least five people believed to be trapped inside a Chinese fishing boat that capsized near a small southwestern island off South Korea on Wednesday, reports AP. Four people were rescued by nearby Chinese fishing boats, but another man pulled by South Korean divers was feared to be dead, according to an official from the Ministry of Public Safety and Security.
Navios Maritime Posts 4Q Profit
Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents. The operator of contracted crude oil tankers posted revenue of $25.8 million in the period. For the year, the company reported profit of $27.1 million, or $1.33 per share. Revenue was reported as $83.4 million. Angeliki Frangou, Chairman…
UK Seafarers: Positive New Statistics Mask Reality
UK Seafarer statistics launched today show a slight overall increase of 2% from 2015, rising to 23,380 at the end of June 2015. The total number of UK seafarers active at sea was estimated to be 23,380. The number of UK officers remained at 10,930 - largely unchanged from 2014. The total number of UK Ratings rose by 5% to around 8,830 – the first increase in the number of ratings since 2011. The number of officer cadets in training remained static at around 2000…
Dragflow Remote Controlled Dredge for Marina Sveva
Dragflow has recently delivered a remote controlled dredge for the Marina Sveva harbor dredging project in Italy. Due to the sea currents caused by a dam, too much sedimentation occurred inside the harbor. Also, the seabed was frequently raised, causing navigational problems for the boaters accessing the harbor. The problem to be tackled was that due to the currents caused by a dam, too much sedimentation has occurred in the harbour.
Norfolk Intermodal Volume Falls
Norfolk Southern Railway has announced disappointing financial results, and a cost-cutting plan that could eliminate two thousand jobs over the next four years. Norfolk has assured shareholders that despite weak carload volume and tumbling intermodal traffic producing a double-digit profit loss, the railroad remains better on its own. The company has outlined plans to cut staff, close routes and mothball locomotives amid a series of measures aimed at cutting annual costs by $650m by 2020.