RSC Bio Solutions Expands Series of Biodegradable Lithium Complex Greases
RSC Bio Solutions exanded its EnviroLogic 800 series of biodegradable greases. The EnviroLogic 800 series are VGP compliant, biodegradable Lithium Complex greases designed to operate in severe outdoor environments and withstand corrosion. RSC Bio Solutions is introducing EnviroLogic 800 and EnviroLogic 801 greases to further compliment the already established EnviroLogic 802, allowing the company to offer solutions for additional applications when specifications call for NLGI grades #0 and #1.
Euronext to Add More Wheat Silos at Ports
Euronext is to expand the number of port delivery points for wheat traded on its Paris-based futures market <0#BL2:> and is considering a system of storage certificates…
WSS Warns of Firefighting Compliance
Ship owners will need to act now to ensure they comply with new firefighting rules brought into force on January 1, 2016 for all new buildings warns WSS. New amendments…
DONG Postpones Major Oil Project Offshore Denmark
DONG Energy <IPO-DONG.CO> has terminated a contract to build an oil and gas platform for its Hejre field, postponing indefinitely the major development offshore Denmark…
Chinese Fast Ferry Delivered
Afai Southern Shipyard (Panyu Guangzhou) Ltd. and CoCo Yachts B.V., announced that the first of the two fast ferries was delivered to Zhuhai High Speed Ferry Company in late February. The vessel named HAI QIN recorded a top speed of 38.11 knots at full load on sea trials. The second vessel named HAI JING was launched and sea trials have recently been completed, the company reports.. The performance…
Indonesia Unveils Port Reforms, New Investment Rules
The amount of time it takes for imports to clear Indonesian ports will be reduced to 3.7 days from 4.7 days under new reforms of procedures, the chief economics minister said.
Firm Ship Demand Pushes Baltic Index Up
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, helped by stronger rates across all vessel segments. The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, was up three points to 409 points. The capesize index rose four points or 1.97 percent to 207 points. Average daily earnings for capesizes…
BOURBON Invests Heavily in Gas Sector
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in ethane transportation, with a market share greater than 50% in a market expected to have strong growth. - 100% of Greenship Gas Manager Pte. - 80% of JHW Engineering & Contracting limited.
Norwegian Shipowners See Tighter Capital Access
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…
Firmer Vessel Demand Pushes Baltic Sea Freight Index Up
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, helped by stronger rates across all vessel segments.
Damen’s Offers Solutions for Laid Up PSVs
Damen Shipyards Group has developed a committed response to the increasing number of laid up Platform Supply Vessels (PSVs) resulting from the current predicament facing the offshore oil and gas industry. The Dutch company’s solution involves converting idle PSVs into vessels capable of taking on roles in alternative sectors such as aquaculture, shipping and defence. The situation that the offshore oil and gas industry is experiencing is having serious consequences throughout the sector.
DryShips Ups Its Revolver Facility
DryShips an international owner of drybulk carriers and offshore support vessels, today announced that it has entered into an agreement to increase its secured revolving facility (“Revolver”) provided by an entity controlled by the Company’s Chairman and CEO, Mr. George Economou. The Revolver was amended to increase the maximum available amount by $10 million to $70 million, to give Dryships an option to extend the maturity of the facility by 12 months to October 21…
ICS is Shipowners' Rep at UN Meets
At the United Nations in New York, the International Chamber of Shipping (ICS) is representing the interests of shipowners at the opening session of a UN Preparatory Committee starting work on a new legal instrument under the United Nations Convention on the Law of the Sea (UNCLOS). The establishment of the new UN Preparatory Committee, under the auspices of the Division for Ocean Affairs and the Law of the Sea…
DP World Chairman meets French President at Investment Summit
DP World Group Chairman and CEO HE Sultan Ahmed bin Sulayem recently met the President of France, Francois Hollande and senior government and business leaders at a major investment summit at the Élysée Palace in Paris. France’s attractiveness as an investment location and DP World’s projects in the country were highlights of the discussions which also covered infrastructure development, port centric development, distribution and export hubs, rail freight, customs, and other logistics topics.
Iran's First Containership Arrives at Antwerp
The first container ship belonging to Iran's IRISL docked at Antwerp after departure Homburg. According to MANA, a cargo ship belonging to Iran's IRISL docked at Antwerp as her second port, becoming the first Iranian ship to reach Europe after a hiatus of over six years. The first container ship from IRISL’s fleet after six years arrived to the port of Antwerp, Belgium as 2nd European port on her own path to Europe.
HMM, FESCO and CMA CGM Launch Joint CRS Loop
Prior to the launch, HMM has been jointly operating two services ‘KRS (Korea Russia Service)’ and ‘KR2 (Korea Russia Service 2)’ with FESCO. HMM merged the two joint loops and broaden its service coverage to the South China and the Middle China, and changed the service name to CRS, which was also joined by a French carrier CMA CGM. The new weekly service turns in three weeks with three ships of 2,700-4,600 teus those were provided by each company.
Conrad Earnings Down but Backlog Grows
Conrad Industries, Inc. (OTC Pink: CNRD) announced its fourth quarter and twelve months 2015 results and backlog. For the quarter ended December 31, 2015, Conrad had net income of $3.4 million and earnings per diluted share of $0.63 compared to net income of $5.2 million and earnings per diluted share of $0.88 during the fourth quarter of 2014. The Company had net income of $10.6 million and earnings per diluted share of $1.86 for the twelve months ended December 31…
Cosco Pacific, PSA Team Up to Expand Terminals in Singapore
COSCO-PSA Terminal Pte Ltd (CPT), a joint venture company formed by Cosco Pacific Limited (Cosco Pacific) and PSA Corporation Limited (PSA), is investing in new container berths in Singapore capable of serving the next generation of mega container vessels. The new investment agreement was signed in Shanghai by Qiu Jinguang, Managing Director, Cosco Pacific and Mr Ong Kim Pong, Regional CEO Southeast Asia, PSA International.
Diana Fixes Bulker Duo with Glencore
Diana Shipping Inc has inked new time charters with Glencore Grain B.V., Rotterdam for two of its panamaxes at rates below the previous charters, with the contracts commencing on March 26. Diana entered into a time charter contract with Glencore for 74,444 dwt panamax dry bulk vessel Erato for a period of 11-14 months at a gross charter rate of $4,650 per day minus a 5% commission payable to third parties. The charter for the 2004-built vessel commenced on March 26.
Tokyo Gas Completes Hitachi LNG Terminal
Japan’s Tokyo Gas has completed construction of its Hitachi LNG terminal in Hitachi Port area marking the start of operations. The LNG terminal is equipped with a 230,000-kilolitre LNG tank that can hold about 100,000-110,000 tons of chilled gas. The Hitachi terminal has already received three cargoes this year, one from Malaysia's Bintulu and two from Russia's Sakhalin, says sources. Hitachi terminal is company’s first LNG terminal, located outside Tokyo Bay.