Smaller Vessels Push up Baltic Dry Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the fifth consecutive session on Thursday, helped by higher demand for smaller vessels. The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, was up 6 points or 1.95 percent at 313 points. The index touched an all-time low of 290 points on Feb. 10, marking the lowest level since records began in 1985.
Grindrod Inks Writedown Charge, Cites Flagging Profit
South Africa's Grindrod flagged as much as 35 percent drop in annual profit on Thursday, after taking a $100 million writedown charge due to a slide in shipping rates and volumes.
New Module Training Series
The training series Design of Marine Auxiliary Systems have been expanded with a new module: ‘HVAC and refrigeration systems’ (module 4). This new module provides the participants with the knowledge required to design these systems and perform the necessary calculations in order to do so. The fundamental working principles as well as design considerations and the rules concerning these systems are all covered. The course consists of 4 separate modules.
UKEF Support Brings Success for Blyth
An export win by Blyth Workcats and UK Export Finance, made possible by the government’s export finance support. The project – to supply a purpose built catamaran…
Rolls-Royce Mooring System for Giant Crane Vessel
Rolls-Royce has signed a $11.5 million contract to supply the mooring system for the world’s largest semi-submersible crane vessel (SSCV), Sleipnir. The vessel will be built in Singapore by SembCorp Marine for the Dutch company Heerema Offshore Services. Mooring systems from Rolls-Royce are designed to operate safely in the harshest climatic zones. For this vessel – the “Sleipnir” – Rolls-Royce will deliver a tailor made equipment package for specific operations…
SST Invests In Fleet Renewal in Canada
Saam Smit Towage Canada takes delivery of new built tug SST Capilano, to be added to the fleet of 21 tugs operated in British Columbia. The addition of this tug will further strengthen the fleet that Saam Smit Towage operates in British Columbia. Saam Smit Towage (SST), a joint venture between SAAM and Royal Boskalis and operating in various locations in the Americas, took delivery of a new tugboat.
Rust Prevention: BioCorr Gets EU Trademark Approval
Cortec Corporation said that its biobased and biodegradable rust preventative, BioCorr, has received registered trademark approval from EU's Office of Harmonization. BioCorr is a water based, ready to use formulation intended for preservation of metals in storage and during transportation. This innovative solution is formulated with renewable raw materials and contains 64% biobased content. It provides…
Port Canaveral Joins Green Marine
The Canaveral Port Authority (CPA) has joined the Green Marine environmental certification program, a North American initiative committed to advancing environmental excellence in maritime transportation. This marks a major milestone as the Canaveral Port Authority is the 100th participant to join Green Marine. Commission Chairman Jerry Allender says protecting the environment is one of the port’s most important duties.
Golden Ocean Refinance to Survive Another Tough Year
Dry bulk shipping firm Golden Ocean plans to raise $200 million in fresh equity, backed by its main owner billionaire John Fredriksen, as it continues to face weak markets for its vessels.
K&L's Gorton Stresses Critical Role of Jones Act
A former member of the 9-11 Commission recently wrote in The Hill that an “often overlooked” benefit of the Jones Act is its role in homeland security and border protection. Former U.S.
Vedder Price Helps to Save the 'Big U'
Last October, America's Flagship, the SS United States, was on the brink of being sold for scrap metal because the SS United States Conservancy, the national nonprofit historic preservation organization that owns the iconic vessel, was running short on funds to cover the ship's expenses. However, thanks to the pro bono counsel from Vedder Price shareholder, Francis X. Nolan III, and other firms and individuals, the iconic ocean liner has been given a second life.
Diversification Protects Port Metro Vancouver from Economic Downturn
Port Metro Vancouver today released its 2015 year-end statistics. Overall volume remained steady at 138 million tonnes of cargo as sectors experiencing declines…
SENER Signs a Contract with ASC for FORAN
The SENER engineering and technology Group has signed a contract with Australian shipbuilder ASC for the implementation of the shipbuilding CAD/CAM System FORAN, developed by SENER, to be used as the software tool in the stability calculations supporting the construction of the Air Warfare Destroyers (AWD) conducted by the Air Warfare Destroyer Alliance. The execution of this contract began with an initial training in the Naval Architecture Module of FORAN…
Seaspan Backs UBC Naval Architecture Research
The University of British Columbia announced it will receive a $2 million investment from Seaspan Shipyards (Seaspan) over the next seven years to support innovative…
Fitch Downgrades Shell, Citing Asset Sales Concerns
Credit rating agency Fitch on Thursday downgraded Royal Dutch Shell following its acquisition of BG Group, citing risks to its asset sales goals to finance the $53 billion deal. Fitch downgraded Shell's Long-term Issuer Default Rating to 'AA-' from 'AA' and put it on negative outlook. Rival rating agency Standard and Poors announced a similar downgrade earlier this month, warning of a further possible lowering. Shell completed on Feb.
Asian Nations Eye Stronger Maritime Surveillance Capabilities
The market for spy planes and surveillance platforms is buoyant in Southeast Asia, where countries are facing off against China – and each other - in the resource-rich South China Sea…
This Day In Naval History - February 18
1846 - Secretary of the Navy George Bancroft issues the General Order to change Larboard to Port for identification of the left side of a sailing vessel. 1865 - In order for CSS Charleston, CSS Chicora, and CSS Palmetto State not to be captured by Rear Adm. John A. Dahlgren's squadron during the evacuation of Charleston, S.C., Confederate Capt. John R. Tucker, orders the ships be set afire and blown up.
Kidde Fire Systems Introduces New Monitors
Kidde Fire Systems launched a new control head monitor (CHM) for electric actuators and solenoid monitors for directional valves. The new CHM is fully compliant with the National Fire Protection Association (NFPA) 2001-2012 Standard on Clean Agent Fire Extinguishing Systems and is designed for simple installation on existing Kidde systems. According to the company, electric actuators are commonly…
Mega Containership to Receive US Inauguration
The largest containership ever to dock at a North American seaport has returned to Southern California. The Benjamin Franklin will officially enter service for the first time on Friday in Long Beach following an inauguration ceremony hosted by French shipping line CMA CGM and attended by elected leaders, port officials and industry executives. The CMA CGM Benjamin Franklin, which has a container capacity of 18…
Sanmar Celebrates 40 Years
Tugboat builder and operator Sanmar Denizcilik is celebrating its 40th Anniversary this year. More than 150 tugboats benefiting from its wealth of experience are presently in operation on international seas, the company says. It was in the year 1976 that Orhan Gürün, today’s company chairman, together with his dear friend, the late Gökçen Seven, incorporated Sanmar Denizcilik. Now celebrating its 40th Anniversary…