Baltic Index Extends Winning Streak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its recovery on Friday driven by improved rates for panamaxes and smaller vessels. The overall index, that gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, was up seven points or 2.05 percent, at 349 points. The index, which touched an all-time low of 290 points on Feb.
Pentagon Chief: 40 LCS 'enough' for U.S. Navy
U.S. Defense Secretary Ash Carter on Thursday defended the Pentagon's decision to buy just 40 Littoral Combat Ships instead of the 52 originally planned, saying the money saved would allow the Navy to buy more missiles and undersea technology. Carter told reporters during a visit to Seattle that the U.S. Navy Secretary Ray Mabus and other backers of the program have said the Navy's requirement for the smaller…
Van Heck’s Sea Trophy Now Available Globally
Van Heck announced that its patented Fast Oil Recovery (FOR) pump, Sea Trophy, is now available globally. A number of Sea Trophy emergency response kits have been mobilized to strategic locations over the globe, Van Heck said. These sets are suitable for FOR systems on board vessels as well as with the standalone Milk Can solution, making tank access through holes as small as 200 mm diameter possible.
Fuel Spill on the Mississippi River
A vessel transiting Lock and Dam 27 on the Mississippi River near Granite City, Mo. was reportedly damaged, rupturing a fuel tank and leading to a fuel spill, according to the U.S. Coast Guard.
Leadership Changes for Cargill
On March 1, Jan Dieleman assumed the leadership of Cargill’s Ocean Transportation business with its headquarters in Geneva, Switzerland. Dieleman took over the position…
China Orders 'Blacklist' of 31 North Korean Vessels
Chinese maritime authorities must "blacklist" 31 boats operated by a North Korean firm that came under U.N. Security Council sanctions this week, according to a…
HSOG Named a Distributor for Marine Armor Systems
HSOG Limited appointed antipiracy and ship hardening distribution and installation agents for Marine Armor Systems. Global marine and offshore service provider HSOG…
Fincantieri Launches Seabourn Encore
Seabourn Encore, the first of two ultra-luxury cruise ships that Fincantieri is building for Seabourn Cruise Line, brand of Carnival Corporation, was launched today at Fincantieri’s shipyard in Marghera, Venice. The ceremony was attended, among others, by John Delaney, Senior Vice President of Global Marketing and Sales, while Fincantieri was represented by Antonio Quintano, the Marghera yard manager.
Drew Marine Acquires NAL Research Corporation
Drew Marine, a provider of technical solutions and services for the maritime, defense and aviation industries, announced its acquisition of NAL Research Corporation…
Dieleman Takes over as Cargill Shipping Head
Commodities trader Cargill has appointed a new head of its shipping business, weeks after announcing it would close its London freight unit amid a worsening global seaborne market.
South Carolina Ports to Harness Solar Power
The South Carolina Ports Authority (SCPA) announced plans to bring solar power to the Wando Welch and Columbus Street terminals, making SCPA the largest rooftop solar host in the state.
IMO Extends ECDIS Transition Period
The IMO subcommittee on Navigation, Communications and Search and Rescue (NCSR) has extended the transition period for software updates to existing ECDIS for one year to August 31, 2017. The NCSR accepted the IHO’s proposal to give all ship owners using ECDIS more time to be able to obtain the correct software updates to the new IHO -52 presentation library and thus ensure compliance with the guidelines on Maintenance of ECDIS software contained in IMO MSC 1.circ 1503.
US Trade Deficit Widens as Exports Hit 5.5-year Low
The U.S. trade deficit widened more than expected in January as a strong dollar and weak global demand helped to push exports to a more than five-and-a-half-year low, suggesting trade will continue to weigh on economic growth in the first quarter. The Commerce Department said on Friday the trade gap increased 2.2 percent to $45.7 billion. December's trade deficit was revised up to $44.7 billion from the previously reported $43.4 billion. Exports have declined for four straight months.
Great Lakes Shipyard to Build Damen Tugs
First Damen tugs to be built under license in the U.S. An agreement was signed between Damen Shipyards Group and Great Lakes Shipyard for the latter to build two Stan Tugs 1907 ICE at its facility in Cleveland, marking the first instance in which Damen tugs will be built under license in the United States, according to the Ohio shipbuilder. The ICE Class vessels will be operated by the yard’s affiliate company, The Great Lakes Towing Company, and will replace existing tonnage.
Global LNG Prices Eroded By Mounting Supply
Asian spot prices for liquefied natural gas (LNG) slid for the third straight week, as pressure mounted from new Australian and U.S. supplies, traders said. LNG…
US Drillers Cut Oil Rigs for 11th Week Straight
U.S. energy firms this week cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as Exxon Mobil Corp and other…
Excelerate Energy Reduces Size of its LNG Trading Desk
U.S. gas shipping company Excelerate Energy has laid off six staff on its global liquefied natural gas (LNG) trading desk as part of a reorganisation, a spokeswoman at the company said on Friday. Texas-based Excelerate said the commercial trading and chartering team was being downsized, but the company would continue to be active in those areas. Founded by Oklahoma billionaire George Kaiser, Excelerate currently owns the world's largest fleet of floating LNG import terminals…
Willard Marine’s Twin Diesel RIB
Rigid hulled inflatable boats (RIBs) have come a long way since their initial development in the United Kingdom in the late 1960s. Long noted for their stability and safety in turbulent seas, they have found applications in rescue work and military settings. Willard Marine, Inc. of Anaheim, Calif. has a long history of conventional hulls and RIBs. They currently produce a variety of models and sizes of RIBs from 4.9-meters up to 11.07.
Ingalls Authenticates Keel of NSC Kimball
Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division authenticated the keel for the company’s seventh U.S. Coast Guard National Security Cutter, Kimball (WMSL 756), today. “Kimball, like her sister ships, is being built to the highest-quality standards with outstanding cost and schedule performance, and the NSC team is energized to make this one the best yet,” said Ingalls Shipbuilding President Brian Cuccias.
Strong Growth in Container Traffic between Austria and Hamburg
In 2015 around 295,000 TEU – 20-ft standard containers – were transported between the Port of Hamburg and intermodal terminals in Austria by rail. That represents a 9.3 percent gain…