A Year is a Long Time in Tankers
The latest Gibson Market Report focused on the age profile of the VLCC fleet and the prospects for trading life beyond 15 years of age. Analysis of the Suezmax fleet shows a similar picture, with eighty-nine units over15 years of age (18% of the current fleet) the preferred upper employment limit set by most charterers. However, many of the older units are able to trade in the shuttle markets, where age is not so much of an obstacle.
Strike In France: Implications for Tanker Demand
After the oil industry suffered from a severe drought in Venezuela, forest fires in Canada and rebel attacks on oil installations in Nigeria, it is now facing the consequences of a national strike in France, where members of the trade union CGT have organized strikes at the country’s refineries and blocked oil terminals and fuel depots, says the Tanker Research & Consulting department at Poten & Partners.
SRH Marine and Setel Powerline Pact for Greek Market
SRH Marine Electronics SA and SETEL PowerLine Ltd have entered a Reseller and Installation Partner Agreement. Through this cooperation SRH is able to offer a complete and holistic approach to e-Navigation concept through Setel PowerLine specializing in the design and implementation of network solutions based on SETEL PowerLine suite of INDUSTRIAL GRADE PowerLine Communications (PLC) products. Vessel and Platform solutions as well as Wi-Fi…
Floating Storage Flattens Fortunes of $50 Crude
The prices of WTI and Brent crude briefly rose above $50/bbl during intraday trading on Thursday, the highest level seen since the end of July 2015, giving traders a brief moment of optimism, says a report from Alibra Shipping Research. But since then, prices have trended downwards. WTI currently hovers around the $48.92/bbl mark on NYMEX. Similarly, Brent is trading at around $48.91/bbl on ICE. Analysts expect a further correction in crude prices because supply remains so abundant.
Höegh LNG FSRUs on Strong Ground
Höegh LNG is upbeat on the group’s FSRU prospects as its profit rise comes on the back of an almost tripled average regasification flow rate on Höegh LNG’s FSRU fleet compared with the same quarter last year, owing to increased imports driven by ample supplies of LNG being available at low prices. All five FSRUs in Höegh LNG’s fleet operated in accordance with contract and without incidents during the quarter, the company said.
US Navy Updated Zika Virus Infection Guidance
Navy Medicine released updated Zika Virus Infection guidance in NAVADMIN 121/16, May 26, communicating current information, travel precautions, and risk reduction measures to Navy and Marine Corps personnel. "The updated NAVADMIN includes the latest Centers for Disease Control and Prevention (CDC) recommendations for the prevention of sexual transmission of Zika virus; it also highlights recommendations for couples who are considering conception," said Cmdr.
CBP, AMO Unveils New Interceptor Vessel
U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO) and SAFE Boat International celebrated the unveiling of AMO’s newest coastal interceptor vessel (CIV) Thursday. In honor of AMO’s historical legacy, this first CIV will be named the Alexandria, after of one of the first maritime law enforcement “Collectorships” used by the Department of Treasury in 1789. AMO marine interdiction…
Seaspan Acquires Eighth 14000 TEU Vessel
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation, Taiwan ("CSBC") is Seaspan's eighth 14000 TEU SAVER design containership and fourth delivery in 2016. This is the second 14000 TEU vessel using Seaspan's fuel-efficient SAVER design constructed at CSBC. The YM Width will commence a ten-year, fixed-rate time charter with Yang Ming Marine Transport Corp.
1,076 Graduate from U.S. Naval Academy
The U.S. Naval Academy graduated 1,076 men and women at the annual graduation and commissioning ceremony May 27 at Navy-Marine Corps Memorial Stadium. U.S. Naval Academy Superintendent Vice Adm. The Class of 2016 boasts an 89 percent graduation rate and, according to Carter, "unprecedented" academic and athletic success. Eight midshipmen received prestigious graduate scholarships, including one Rhodes Scholarship…