Offshore Brazil: Production Starts at FPSO Unit
In February, a second floating production, storage, and offloading (FPSO)* unit deployed by NYK for the BM-S-11 consortium through a joint venture company started oil production in a pre-salt area off Brazil. This FPSO unit, FPSO Cidade de Marica, is owned by a shareholder consortium comprising SBM Offshore N.V. (Netherlands), Queiroz Galvão Óleo e Gás S.A. (Brazil), and a joint venture company between NYK (48.72 percent…
Offshore Supply Ship Market Set for Consolidation
A glut of offshore supply vessels and falling demand from oil firms will trigger a restructuring of the still-fragmented industry, two of the largest owners of the specialty ships told Reuters on Tuesday. With crude prices down more than 70 percent since mid-2014, energy firms have sharply cut their exploration spending, leaving a rising number of vessels to be mothballed. Norwegian supply vessel owners Farstad Shipping and Havila Shipping both said they expect to see mergers take place…
Baltic Index Rises Slightly
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose further on Tuesday, propelled by higher rates for panamaxes and smaller vessels.
Rotterdam Mayor to Renew Logistics MOU
Rotterdam Mayor Ahmed Aboutaleb will take the 550th anniversary of the Rotterdam philosopher Erasmus’s birth as an occasion to visit Basel. During the Mayor’s visit Rotterdam will renew its existing Memorandum of Understanding (MOU) with the Swiss city. The municipal representatives will be joined by a large delegation from the Rotterdam port. Erasmus lived in Rotterdam and Basel and died in the latter city in 1536.
Disabled Fishing Vessel Towed to Montauk
U.S. Coast Guard crewmembers assisted in towing a 58-foot commercial fishing vessel after it became disabled Saturday about 50 nautical miles south of Shinnecock Inlet. Watchstanders at Sector Long Island Sound command center received notification at approximately 7 p.m. Saturday night that the fishing vessel Bookie was disabled and adrift with four mariners aboard. The vessel became disabled due to an engine casualty but still had power via an on-board generator.
Mombasa Port Traffic up 7.5% in 2015
Container traffic through Kenya's biggest port grew by 7.5 percent in 2015 after new cargo-handling infrastructure was built, shortening the turnaround time for ships, port management said on Tuesday.
Solution to Iran Shipping Insurance Issues Months Away
Frontline, one of the world's largest independent tanker firms, says securing insurance for cargoes carrying oil from Iran is likely to take another two to three months…
Diana Containerships Posts 2015 Net Loss
Diana Containerships Inc. reported a net loss of $8.8 million for the fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014. According to the shipping company, the loss 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. Time charter revenues…
Iraq's Southern Oil Exports Slip in February
Iraq's southern oil exports dropped slightly in February to an average of 3.225 million barrels per day (bpd), the oil ministry said on Tuesday. Shipments from the…
TonenGeneral Imports Japan's First Kurdish Oil Cargo
TonenGeneral imported Japan's first cargo of Kurdish crude from northern Iraq in January, a source with direct knowledge of the matter said on Tuesday. Iraq's semi…
S.Korea Feb Exports Tumble on China Slowdown, Lower Oil
South Korean exports in February tumbled in their 14th consecutive month of declines, with the longest slump in the country's modern history underscoring how a slowdown in China is putting trade-reliant economies on the skids. The bleak overseas sales from the world's sixth-largest exporter, home to globe-trotting manufacturers of mobile phones to cars to ships, suggest policy makers will have their work cut as they seek to spark growth in the face of faltering demand.
Energy Efficient Dry Cargo Vessel Coated with Ecospeed
Newbuild M/S Eeva VG, the first of two very energy efficient dry cargo carriers managed by VG-Shipping, was coated with Ecospeed at the end of January ahead of her July 2016 delivery. Both new ships are VG EcoCoasters and will operate in the Baltic region. They are owned by Meriaura Group of which VG-shipping is a part. The vessels were designed as a new ship concept by Meriaura together with its partners Foreship Ltd and Aker Arctic Technology Inc.
China Navy Launches First Self-propelled Floating Dock
China's navy has launched its first self-propelled floating dock, giving it the ability to repair warships far from the coast, the official People's Liberation Army Daily said on Tuesday…
ABS-classed Ship Carries Historic LNG Export from US
Milestone marks another ‘first’ in the Class Society’s history of serving the gas market. Cheniere Energy, Inc. has commissioned a cargo from the Sabine Pass LNG Terminal. Carried aboard the Asia Vision, an ABS-classed LNG Carrier, the cargo represents a milestone in ABS’s history of serving the gas industry, the classification society said. “The first export shipment of liquefied natural gas from Sabine Pass is a historic moment for the entire North American energy sector…
Finalists Complete for $2 Mln Wave Energy Prize
U.S. The U.S. Department of Energy (DOE) announced that nine teams have been named finalists in the Wave Energy Prize—a 20-month design-build-test competition—and…
Senior Defense Officials Discuss Polar Priorities
Chief of Naval Research Rear Adm. Mat Winter met in Finland last week with counterparts from five nations in a first-ever gathering of senior defense officials to…
Sea IT Inks ICT Service Contract with Donsötank
Sea IT informs it has signed a three-year BlueCORE ICT service contract with Donsötank. The deal covers outsourcing of information technology and communication services onboard all vessels with BlueCORE operated by Donsötank. Donsötank has previously modernized and installed BlueCORE, an ICT platform specifically developed by Sea IT for the demanding conditions in the marine industry. “To achieve our…
New Bridge Procedures Guide from ICS
The International Chamber of Shipping (ICS) has published a new edition of the ICS Bridge Procedures Guide, shipping industry guidance on best practice for safe navigation, which is used by seafarers and training institutes worldwide. The fifth edition has been comprehensively revised by an expert working group nominated by ICS’s member national shipowners’ associations, and replaces the previous edition published in 2007.
INS to Help Manned Sub Explore Andrea Doria Wreck
OceanGate, a provider of manned submersible services, and iXBlue, a provider of navigation, positioning and imaging solutions, have partnered to expand the application and use of advanced marine navigation and sonar equipment to explore the world’s deep oceans. As part of the alliance, OceanGate has selected the iXBlue PHINS Inertial Navigation System for use aboard its fleet of Cyclops series manned submersibles.
China's Militarization of South China Sea Will Have Consequences -US
U.S. Defense Secretary Ash Carter on Tuesday warned China against what he called "aggressive" actions in the South China Sea region, including the placement of surface…