Saudi Aramco, Shell to Break up, Divide Motiva Assets
Shell and Saudi Aramco on Wednesday announced plans to break up Motiva Enterprises LLC and divide up the assets, almost two decades after the U.S. oil refining and marketing joint venture was formed. Under the terms of a non-binding letter of intent, Saudi Aramco will retain the Motiva name, assume sole ownership of the Port Arthur, Texas refinery, the biggest in the United States, and retain 26 distribution terminals, according to a statement.
Moore Stephens: UK 2016 Budget to Impact Shipping, Offshore Sectors
UK Budget 2016 provides surprises for shipping and radical measures for offshore maritime sector. Leading accountant and shipping adviser Moore Stephens says the UK Budget 2016 contains a number of surprise developments which are likely to be of interest to the shipping sector, as well as a radical set of measures which it is hoped will assist the offshore maritime oil and gas sector. The Government announced a further reduction in the rate of corporation tax…
Israeli Shipping Data Firm to Enter Commodities Game
Analysts say intelligent analytics could give firm an edge. A young Israeli technology company believes the expertise it has built up in tracking ships for governments…
Venture Insurance Programs Acquires Tidal Solutions
Venture will rebrand and integrate Tidal Solutions specialty commercial marine products into its portfolio of industry leading programs. Venture Insurance Programs, a national insurance program administrator, today announced it has acquired Tidal Solutions, LLC, a Charlotte, NC-based managing general underwriter serving the North American specialty commercial marine market. Venture will integrate the Tidal Solutions marine products into its portfolio of industry specific insurance programs.
Italy State Railways Eyeing Greek Railway Network
Italy's state railways <IPO-FERRO.MI> is considering bidding for Greece's rail network TRAINOSE, a spokesman for Ferrovie dello Stato said on Wednesday. "We are…
Harley Marine Wins Environmental Award
Harley Marine Services received the U.S. Coast Guard's Rear Admiral William M. Benkert Marine Environmental Protection Gold Award. The prestigious award recognizes…
AAPA 2016 Conference Focuses on Western Ports
U.S. High-ranking government officials, policy influencers, port authority CEOs and senior staff from throughout the Western Hemisphere, along with a host of maritime industry leaders will converge on Washington, D.C., April 4-6, to participate in the 2016 Spring Conference of the American Association of Port Authorities (AAPA) – the unified and recognized voice of seaports in the Americas. Among the conference highlights will be a keynote luncheon address by U.S.
LR Alert: Liquefaction Dangers for Carriage of Bauxite
The IMO’s Carriage of Cargo and Containers (CCC) Sub-Committee has published circular CCC.1/Circ.2 on Carriage of Bauxite that may Liquefy. the Master is presented…
Blue Brother Supply Vessel Launched
A new launch for Vittoria Shipyard in Adria (Italy). The ceremony for Blue Brother took place in the waters of the Canalbianco-Po River. The supply vessel will be leased out to Bambini di Ravenna, which is one of the most important maritime transport companies in Italy, specialized in providing offshore support services. The new vessel is property of the shipowning company Adriese di Navigazione, which is also the holding company of the group the Vittoria Shipyard belongs to.
Nigeria, Equatorial Guinea Sign Maritime Security Agreement
Nigeria and Equatorial Guinea signed an agreement to establish combined patrols to bolster security in the Gulf of Guinea, which has been plagued by piracy in the last few years…
EU Agrees on Plan to End Overfishing in Baltic Sea
European Union lawmakers and member states have agreed on a long-term plan to end over fishing of cod, sprat and herring stocks in the Baltic Sea, the first such…
Marad Chief, Coast Guard Commandant Advocate for Jones Act
Adm. Zukunft: “If you take the mariners away, what is the world going to look like 10 years from now? The House subcommittee on Coast Guard and Maritime Transportation held a hearing Monday on “President’s Fiscal Year 2017 Budget Request For Coast Guard and Maritime Transportation Programs” during which Coast Guard Commandant Admiral Paul Zukunft and U.S. Maritime Administrator Paul “Chip” Jaenichen stressed the critical need for the Jones Act to protect our economic and national security.
Baltic Sea Freight Index Slips
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday for the first time in five weeks, hurt by…
Simrad Launches Commercial Radar System
Simrad's R3016 12U/6X IMO SOLAS CAT 3 Radar System for the commercial shipping market in on the market. The new R3016 12U/6X IMO type approved radar solution is ideal for use aboard CAT 3 SOLAS vessels1, workboats, tugs and coastal fishing boats. Its 12-kilowatt X-Band transceiver and 6-foot open array scanner are designed for high reliability and low maintenance. Alongside the 6-foot array comes the new Simrad R3016…
Hamburg Sud Chooses Voyager
Global Navigation Solutions (‘GNS’), the maritime services group, has announced that its long-term customer Hamburg Sud will be installing Voyager Planning Station (‘VPS’) throughout its group.
Leif Hoegh Increases Stake in Hoegh LNG
Leif Hoegh & Co. Ltd., a primary insider of Hoegh LNG Holdings Ltd., purchased 67,060 common shares in Hoegh LNG Holdings on 15 March for a price of NOK 91.50 per share.
Japan to Import US Crude in May
Phillips 66 actively offering U.S. crude in Asia. Japan will receive a U.S. crude cargo in May, its second such purchase from the United States since Washington…
Swedish Club Report Shines Light on Vessel Claims
The life of seafarers is never straightforward, and as a new report from the Swedish Club shows, the hazards and job complexities they face are very much dependent on the type of vessel they find themselves crewing. In P&I Claims Analysis, published this week, the Club has studied thousands of incidents in the last ten years, across a range of vessel segments and claims types, and made some interesting discoveries.
Maritime Economics: Top Five Shipyards by Market Value
Shown is an infographic courtesy of VesselsValue.com looking at the top five shipyards ranked by the market value of the newbuilding contacts currently on order. According to Senior Data Editor, Craig Jallal, "The current top five shipbuilding groups have seen a significant decline in value of their orderbooks year-on-year since March 2015. Hyundai HI has suffered the largest decline, down by 12%, but fifth-placed Imabari of Japan, enjoyed a 9% increase in the value of its orderbook."
Ponant Orders Four Ships from VARD
Norwegian offshore shipbuilders VARD have announced a deal with French luxury cruise ship operator Ponant for the construction of four luxury expedition cruise vessels, for delivery in 2018 and 2019. The vessels will be developed by Vard, Ponant, and Fincantieri. The ice-class expedition cruise vessels will be approximately 10,000 gross tons, about 128 metres long, 18 metres wide and will have a cruise speed of 15 knots. Each vessel can accommodate 180 passengers (92 cabins) and a crew of 110.