Statoil and ExxonMobil Win Irish Oil Licenses
Oil majors Statoil and ExxonMobil have been awarded six options to search for oil and gas offshore Ireland in the country's latest licensing round, Statoil said on Wednesday.
Japan Skips Import of Feed Wheat and Barley via Tender
Japan's Ministry of Agriculture said it would skip import of feed-quality wheat and barley for livestock use via a simultaneous buy and sell (SBS) auction that closed late on Wednesday.
More Vessels Need to Be Scrapped to Restore Balance -Norden
Danish shipping company D/S Norden said the dry cargo market reached its lowest point last year and will not recover this year under the weight of overcapacity and the Chinese economy's transition away from an industrial economy. China's insatiable appetite for coal and iron ore that profitable freight rates for dry cargo vessels has now gone, Chief Executive Jan Rindbo said on Wednesday. "The industry undergoes huge changes these years.
Bureaucrat and Old Fungus Law Hold Egypt's Wheat Supplies Hostage
A global grain glut should make purchasing wheat cheap and easy for Egypt, the world's biggest importer, but traders say one bureaucrat has made it anything but.
Singer Appointed Non-Executive Director, Rolls-Royce
Rolls-Royce today announced the appointment of Bradley Singer as a Non-Executive Director. He will join the Board with immediate effect and will become a member of the Science and Technology Committee. Brad is a Partner and Chief Operating Officer of ValueAct Capital, the San Francisco based Investment Company. ValueAct Capital is currently the largest investor in Rolls-Royce with a shareholding of 10.8%.
Seafarers' Unions Hold International Cruise Seminar in India
NUSI alongwith Norwegian Seafarers Union (NSU), FIT-CISL and International Transport Workers Federation (ITF) together organized the Fifth International Cruise Seminar in India. This time the seminar was organized in Bangalore from January 19th -23rd, 2016. Around 75 seafarers from various cruise lines such as NCL, RCCL, Silverseas, P&O, Louis Cruise Lines and others participated in the seminar. The participants held all types of positions onboard…
Scorpio Charters-In Handymax Trio
Scorpio Tankers Inc. (NYSE: STNG) announced agreements to time charter-in three ice class 1A Handymax product tankers. The Company has entered into time charter-in agreements with an unrelated third party on three ice class 1A Handymax product tankers. Each agreement is for three years at $15,600 per day, and the Company has two consecutive one year options to extend the agreements at $16,500 per day and $17,500 per day, respectively.
IRClass' Expansion in SE Asia Underway
The Indian Register of Shipping (IRClass) is gearing up to expand its activities in Singapore and throughout South East Asia with plans for opening two more offices in the region over the next two years. IRClass, with a diverse portfolio of services across the marine sector, will be hosting the second meeting of its Singapore Advisory Committee on Friday 18 March. The remit of the committee, which is chaired by Denis Welch…
Constrains on Iran Oil Shipping Insurance Still Remain
The chief executive of Frontline, one of the world's largest independent tanker firms, said it is likely to take another two or three months until insurance for cargoes carrying oil from Iran is secured, according to a report in Tasnim. "We have not lifted anything yet, there are still terms of insurance and payments. There are still some outstanding (issues). (But) we expect that to be in place within two to three months," said Robert Hvide Macleod.
Gassco Examines Feasibility of CO2 Shipping
Gassco has commissioned Knutsen OAS Shipping and Larvik Shipping to study transport of CO2 by ship in connection with the Norwegian government’s full-scale project for managing this greenhouse gas. In cooperation with Gassnova, Gassco has earlier studied CO2 handling chains. “The transport study will help to ensure that the government’s ambition of realising at least one full-scale CO2 facility by 2020 can be met,” says Gassco CEO Frode Leversund.
OSG Reports $284m Profit In 2015
Overseas Shipholding Group, a provider of oceangoing energy transportation services, reported results for the fourth quarter and full year 2015. The company reported net income of $9.3 million in its fourth quarter. The crude oil and petroleum transportation company posted revenue of $243.7 million in the period. For the year, the company reported profit of $284 million, or 49 cents per share. Revenue was reported as $964.5 million. The Board has declared a dividend of $0.08 per share.
Box-Weighing Changes 'Impossible' for Shippers
Global Consolidators Working Group(GCWG) has urged the International Maritime Organization (IMO), an arm of the United Nations that regulates shipping safety, to provide more detail about the much-debated container verification rules, set to be introduced by July 1, according to a report in WSJ. Consolidators say an impending rule demanding certified weights for shipping containers leaves their business boxed out.
Diana Containerships Reports 4Q Loss
The Athens, Greece-based global shipping company specializing in the ownership of containerships Diana Containerships Inc. has reported a loss of $8.8 million in its fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014. The loss for the fourth quarter was mainly the result of $6.6 million of impairment charges of the vessel Hanjin Malta, without which the result for the fourth quarter of 2015 would have been a net loss of $2.2 million.
Otto Marine Bags OSV Chartering Contract Worth $68m
Singapore’s offshore chartering group Otto Marine has bagged a OSV chartering contract worth up to $68.5m from an international oil and gas E&P firm. The charter, inked by Otto Marine’s wholly-owned Go Offshore, is for a 100-tonnes bollard pull OSV for FPSO infield support in the gas field of 40-year life in Australia. The chartering contract is confirmed for 5 years from May 2017 with the option of an additional 5 year extension.
Troy Container Line Expands Services in Ireland
NVOCCTroy Container Line, Ltd. announced the launch of its newly expanded export services to Ireland. The new EMERALD ISLE EXPRESS sailing service will begin on Tuesday…
Star Bulk Defers More Ship Deliveries
In February 2016, Star Bulk has agreed to defer the delivery of five Newcastlemax vessels from 2016 to 2017 and 2018: three vessels were deferred from Q1 2016 to Q1 and Q3 2017, and two vessels were deferred from Q1 and Q2 2016 to Q1 2018. Consequently, $188 million of CAPEX originally due in 2016 has been deferred to 2017 and 2018. During the last 12 months, the company has pushed back the delivery of 16 vessels for 124 months in aggregate, or eight months per vessel.
Volvo Penta’s Kull a Top Woman in Manufacturing
Marcia Kull, vice president of marine sales for Volvo Penta of the Americas, has been selected by the Manufacturing Institute as one of the top women in U.S. manufacturing for 2016. Kull and the other honorees will be recognized at the fourth annual Women in Manufacturing STEP (Science, Technology, Engineering and Production) Ahead Award at a gala dinner April 21 in Washington, D.C. The STEP Ahead…
Recent Vessel Sales - February 2016
Vessel sales for February 2016 (as of March 1) as prepared by Shipping Intelligence, Inc., New York.
Interlake Steamship Begins 2016 Sailing Season
The Interlake Steamship Company’s Dorothy Ann-Pathfinder, an articulated tug-barge unit (ATB), departs winter layup today to begin early-season shuttles of iron ore for ArcelorMittal, an integrated steel and mining company with blast furnaces at the head of the Cuyahoga River. A workhorse of Interlake’s nine-vessel fleet, the combined 711-foot Dorothy Ann-Pathfinder is one of Interlake’s two River-Class vessels…
This Day In Naval History - March 1
1865 - Side-wheel steamship Harvest Moon, while underway near Georgetown, S.C., with Rear Admiral John A. Dahlgren on board, hits a Confederate mine (or "torpedo" in contemporary terms) and sinks with the loss of one of her crew. 1942 - Naval Reserve pilot Ensign William Tepuni, flying a Lockheed Hudson reconnaissance, light bombing and transport aircraft (PBO) from VP-82 Squadron based at Naval Air Station Argentia…