Hyundai Heavy Industries Back in Black
According to a regulatory filing, Hyundai Heavy Industries (HHI) racked up 10.2728 trillion Korean won in sales for Q1 2016, a 7.8 percent decline from the previous quarter while operating income swung to a profit of 325.2 billion won, putting an end to a nine-quarter losing streak. The officer added, “We see the 1Q 2016 consolidated earnings have not deviated much from the annual performance goal we set up early this year.
Crude Prices up 3% on Gasoline Rally, Weak Dollar
Crude oil prices rose about 3 percent on Tuesday on the back of a rally in the gasoline market and as a tumbling dollar boosted commodities denominated in the greenback…
ABS Reflects on Strong 2015 Performance
ABS held its Annual Meeting on April 26, 2016 in New York, where Chairman, President & CEO Christopher J. In 2015, the ABS-classed fleet surpassed 230 million gross tons (mgt), a nearly five percent growth from the previous year. The largest areas of expansion for the class society came from the tanker, gas carrier, containership, bulk carrier, offshore support vessel and offshore production unit sectors.
El Faro’s Voyage Data Recorder Located
The voyage data recorder (VDR) belonging to sunken cargo ship El Faro was found early Tuesday morning in 15,000 feet of water, about 41 miles northeast of Acklins and Crooked Islands, Bahamas, the National Transportation Safety Board (NTSB) announced. A specialist team comprised of investigators and scientists from the NTSB, the U.S. Coast Guard, Woods Hole Oceanographic Institution and Tote Services…
Viega Relocates Its US Headquarters
Viega LLC announced that it will move its North American headquarters to Broomfield, Colorado, where it will build a new headquarters and educational training facility, with construction set to begin this summer. Relocation activities will begin immediately, to temporary office space, with the move completed by December 31, 2017. Viega LLC employs nearly 500 people in North America, with a central manufacturing and distribution center in McPherson…
This Day In Naval History: April 26
1860 - The screw steamship Mohawk captures the slaver Wildfire with 530 slaves on board in the Bahama Channel, taking them to a camp in Key West guarded by Mohawks Marines until returned home. 1869 - As a post-Civil War push for re-enlistments, the Good Conduct Medal, then called Good Conduct Badge, is authorized by Secretary of the Navy Adolphus E. Borie. 1918 - USS Stewart (DD 13) collides with an unidentified steamer near Brest, France.
AIS Regulations: New Responsibilities and Opportunities
March Coast Guard deadline represents milestone for AIS use in U.S. From increasing situational awareness and enhancing the safety and security of maritime transportation, to its use in accident investigation, search and rescue, Aids to Navigation and asset monitoring, the role of AIS (Automatic Identification System) as a flexible and developing technology continues to grow in significance. The month…
Eastern Libya Ships First Oil Cargo in Defiance of Tripoli
A government based in eastern Libya has shipped its first cargo of crude in defiance of authorities in the capital Tripoli, a bold move that could deepen the divisions…
Orion Marine Concepts Launches Q-Strata Software
Aiming to provide niche control over managed/owned vessels, Indian maritime based software provider Orion Marine Concepts has released a strategic intelligence software suite approved by DNV GL.
Libya Asks UN Council to Blacklist Ship Carrying Eastern Oil
Libya has asked the United Nations Security Council to blacklist an Indian-flagged ship that is on its way to Malta carrying crude oil shipped by the rival eastern Libya government, Libya's U.N.
Turkish Crew Freed Two Weeks after Kidnap by Pirates off Nigeria
Six Turkish members of a cargo ship's crew who were kidnapped by pirates off the coast of Nigeria two weeks ago have been released and are safely back in Istanbul…
US Navy Awards Additional LCS Work to Austal
Austal Limited has been awarded a not-to-exceed $9,937,228 modification to a previously awarded Littoral Combat Ship (LCS) contract to provide procurement and engineering…
Canada to Build 7 New Survey Vessels
Canadian Minister of Fisheries, Oceans and the Canadian Coast Guard, Hunter Tootoo, announced that Kanter Marine Inc. of St. Thomas, Ontario is the winning bidder…
Haimark Line Cancels Future Cruises
Passenger vessel operator Haimark Line Limited has cancelled all future cruises, the U.S. Federal Maritime Commission (FMC) has advised. Haimark operates a single vessel…
Japan wants Australian Explaination for Failed Sub Bid
Japan wants Australia to explain why it decided not to pick a Japanese design for a new fleet of submarines choosing instead a proposal from France's DCNS. "The decision was deeply regrettable…
Maersk Line Adds Direct Service to Cuba
Container shipper Maersk Line has introduced its first direct service from Northern Europe to Cuba, beginning on Friday April 22 with the arrival of the 2,556 TEU containership E.R. Cape Town in the Port of Mariel, located 50 kilometers from Havana. The Cuba call is part of Maersk Line’s CRX – Southbound service from Northern Europe to Manzanillo, Panama, providing customers fast transits from North European ports of Bremerhaven, Tilbury, Rotterdam and Cork.
Concordia Maritime Inks P-MAX Tanker Contract
Concordia Maritime has signed a new consecutive voyage contract for the P-MAX tanker Stena Polaris. The contract, which comes into effect in May 2016, is for one year. The contractual partner is one of the world’s largest oil and gas companies. “This is a new niche trade that we have identified together with our customer. The new contract clearly demonstrates that we have found an arrangement that creates value for all parties.
New ClassNK Guidelines for Gas-fueled Ships
Classification society ClassNK has released the fourth version of its Guidelines for Gas Fueled Ships. With the introduction of increasingly strict environmental regulations, the industry is now turning toward the use of cleaner fuels such as LNG and more recently other low flashpoint fuels such as methanol to curb their NOx, SOx and PM emissions. The new guidelines provide comprehensive, up-to-date information on key design features relating to bunkering…
Nauta Yard Cuts First Steel for Trawler Newbuild
Newbuilding Department of Nauta Shipyard has begun construction of fully equipped fishing vessel - Ocean Star with a steel cutting ceremony held on April 26. The ceremony was attended by representatives of shipowner, DnV and Warthill Design . Nauta has signed contract with a Scottish shipowner in December 2015. This is particularly important order,as it concerns building of a turn-key vessel and all…
Stronger Capesize Demand Boosts Baltic Index
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday, primarily helped by higher demand for capesize vessels.