Iraq Exports 2nd Gas Condensates Cargo
Iraq exported on Wednesday a second cargo of gas condensates, produced by the Basrah Gas Company, a joint venture between the state-run South Gas Co., Shell and Mitsubishi…
Kang Joins Glander International Bunkering
Glander International Bunkering a global marine fuel, lubricant trading and brokering firm welcomes Guyson as Bunker & Lubricant Trader to the Singapore office. Guyson joins Glander International Bunkering with regional expertise in the Asia Pacific region and has been in the maritime industry for over three years. His supply knowledge, negotiation and communication skills are further enhanced with his ability to speak English, Mandarin, Cantonese and Teochew. Mr.
MacGregor Equipment for ESL's Eco-bulker Duo
MacGregor, part of Cargotec, has confirmed an important order to deliver hatch covers, cranes, deck machinery and steering gear to two new 25,600 dwt dual-fuelled handysize bulk carriers for Finnish owner ESL Shipping. The ice-class vessels are the first to be built to new classification society rules introduced January 2016. The ships have been designed to set new standards in efficiency and environmental performance and introduce liquefied natural gas-powered bulkers to the market.
MARACAD Returns to Dubai
After an extremely successful debut in 2015, the MARACAD Conference and Expo returns to Dubai once again in 2016. Under the patronage of His Excellency Dr. Abdullah Bin Mohammed Belhaif Al Nuaimi, Minister of Public Works Chairman of the Federal Transport Authority – Land and Maritime, the event is the result of a high level strategic partnership with the Dubai Maritime City Authority. MARACAD 2016…
TEN Fixes Five Panamaxes
Tsakos Energy Navigation Ltd. (NYSE:TNP), a leading crude, product and LNG tanker operator, today announced charter extensions with a state oil company with profit sharing provisions for five panamax tankers, with an average duration of 22 months per vessel and minimum gross revenues of $65 million. These fixtures are expected to commence between April and November of 2016 upon expiration of their existing employments and contribute…
Austal Lays Keel of EPF 8 Yuma
Austal celebrated the keel-laying milestone for the Expeditionary Fast Transport vessel Yuma (EPF 8) here today with a ceremony marking a significant milestone in the ship’s construction. This ship is the eighth EPF built at Austal under the 10-ship, $1.6 billion block-buy contract awarded to Austal in 2008. Laying the keel is the formal recognition of the start of a ship's construction. The keel runs…
AMP Honors Senator Mazie Hirono
The American Maritime Partnership (AMP), the voice of the domestic maritime industry, today recognized U.S. Sen. Mazie Hirono (D-HI) with the 2016 Champion of Maritime Award. Sen. Hirono is honored for her long-standing support and commitment to the men and women of American Maritime in her work on the Senate Armed Services Committee and as a Ranking Member of the Armed Services Subcommittee on Seapower and Energy. Sen.
Seaspan Building 2nd OFSV
Seaspan Shipyards, announced today the start of construction on Seaspan’s second National Shipbuilding Strategy (NSS) ship, the Canadian Coast Guard (CCG)’s second Offshore Fisheries Science Vessel (OFSV). “Seaspan is now full-steam ahead on the production and delivery of its first two National Shipbuilding Strategy (NSS) vessels, and we are re-writing shipbuilding history in Canada in the process for generations to come,” said Brian Carter.
DSME's First Export Submarine Goes to Indonesia
South Korean defense contractor Daewoo Shipbuilding and Marine Engineering (DSME) launched the first out of three Type 209/1400 Chang Bogo-class (a license-built variant of the 209) diesel-electric attack submarines for service in the Indonesian Navy. Indonesian Defense Minister Ryamizard Ryacudu and Navy chief of staff Admiral Ade Supandi visited South Korea to witness the unveiling of the submarines.
Qatar Petroleum Delivers 500th LNG Cargo UK
Qatar Petroleum (QP) has announced the delivery of the 500th liquefied natural gas (LNG) cargo from QP affiliate Qatar Liquefied Gas Company (2) to the South Hook LNG Terminal at Milford Haven in the United Kingdom. The landmark delivery, on Thursday March 24th, was made on board the Q-Flex LNG vessel Al-Hamla. Mr. Saad Sherida Al-Kaabi, the President and CEO of Qatar Petroleum, described the delivery as “another significant achievement for Qatar’s LNG industry”. Mr.
TRAC Intermodal Mulls Sale or IPO
TRAC Intermodal LLC is exploring a sale or an initial public offering (IPO) after pulling a $485 million bond offering last week, reports WSJ quoting the chief executive Keith Lovetro. Princeton, N.J.-based TRAC, one of the largest leasing companies for trucking equipment, owns about 315,000 intermodal chassis —steel frames with wheels that hook up to truck tractors. TRAC enlisted Morgan Stanley to sell the debt…
Seaways Shipping Set to Go Public
Logistics service and solutions provider Seaways Shipping & Logistics Ltd has filed draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO comprises fresh issue of shares worth about $12 million through a fresh issue of sale and an offer-for sale of up to 6,445,224 equity scrips by the existing shareholders, including IDFC Private Equity, according to the Draft Red Herring Prospectus filed with Sebi.
Republic of the Marshall Islands Maintains Qualitative Edge
The Republic of the Marshall Islands (RMI) received preliminary information regarding the United States Coast Guard’s (USCG’s) Qualship 21 list during Intertanko’s North American Panel meeting. The meeting, which took place on day one of the Connecticut Maritime Association’s (CMA’s) Shipping 2016 conference, was the largest attended North American Panel meeting to date. Rear Admiral Paul Thomas, Assistant Commandant for Prevention Policy…
Amels 242 on Sea Trials
The 74-meter long luxury superyacht built at Vlissingen shipyard has started shipbuilder's sea trials. Amels is now recognised as one of the most successful superyacht builders in Holland. "Even the chilly Dutch North Sea looks rather nice when graced by the gorgeous lines of the new 74-metre AMELS 242, out for sea trials near the AMELS yard in Vlissingen, the Netherlands," Damen said in a press release.
Charters of Tsakos Tankers Extended
Tsakos Energy Navigation (TEN) announced charter extensions with a state oil company with profit sharing provisions for four panamax tankers, with an average duration of 22 months per vessel and minimum gross revenues of $65 million. These fixtures are expected to commence between April and November of 2016 upon expiration of their existing employments and contribute, on an annualized basis, an extra $20m to the Company's bottom line.
Norwegian Shipowners Face Cash Crunch
Access to capital for cash-hungry Norwegian offshore shipowners is expected to tighten further as lower activity and falling profits continue in 2016, the Norwegian Shipowners' Association said in its yearly outlook report on Tuesday. Since mid-2014, the price of crude has tumbled 66 percent, leading oil firms to cut investments to preserve cash and hence rent fewer drilling rigs, supply vessels, seismic ships and other equipment used in the search for oil and gas.
Heavy Hitter: Meet the Hydrohammer S-4000
IHC IQIP has launched its new S-4000 Hydrohammer pile-driving system. The Royal IHC business unit’s latest development in hydraulic impact hammers is the largest available on the market, and enables the installation of offshore foundations in even the toughest ground conditions with the largest type of monopile. It‘s also suitable for applications in the oil and gas industry. As offshore wind farms are predicted to move further offshore into deeper waters…
Somali Pirates on trial in Paris
Seven Somali men accused of hijacking a French yacht in an assault in which its owner was killed and his wife abducted in the Arabian Sea four years ago appeared before a French court on Tuesday, all facing life sentences. The men have not been charged with homicide, but with hijacking - a crime punishable with life imprisonment - as well as theft, abduction and illegal confinement, according to Martin Pradel, the lawyer of one of the suspected attackers.
BOEM Announces Final Rule for Oil and Gas Leasing
The Bureau of Ocean Energy Management’s (BOEM) Final Rule for Leasing of Oil and Gas or Sulfur in the Outer Continental Shelf (OCS) will be published in the Federal Register on March 30, 2016.
Mexico Aims to Spur Deep Water Oil Projects
Oil companies operating in Mexico's deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low…