Novatek: Shareholders to Decide on $600 Mln Loan for Yamal LNG
Russia's largest non-state gas producer Novatek said on Thursday its shareholders would decide on a new loan worth $600 million for the Yamal LNG project on June 20, according to Interfax news agency. The $27 billion Yamal LNG project envisages three liquefied natural gas (LNG) production lines with a capacity of 5.5 million tonnes a year each. The gas the project produces would be exported to world markets. Novatek has a 50.1 percent stake in what will be only Russia's second LNG plant.
Offshore Wind to Compete with Fossil Fuels -DONG CEO
DONG Energy's Chief Executive Henrik Poulsen said renewable energy like wind will be produced at a lower cost in the future. "I have no doubt that costs of offshore wind and solar energy over time will come down and be at same level as fossil fuels," Poulsen said. "Our vision is that green energy will be cheaper than conventional energy. "Five years ago the price for producing one megawatt was about 160 euros. "It is our clear impression the green transition has a pretty strong momentum among.
Paris MoU Publishes New Performance List
At its 49th meeting last month, the Paris MoU Committee approved the 2015 inspection results and adopted new performance lists for flags and Recognized Organizations.
Sovcomflot Revises Pricing on USD 7-year Bond
Russian shipping company Sovcomflot has cut the yield on its seven-year U.S. dollar bond to 5.375 percent - 5.5 percent, according to a lead. The notes will price within that range.
Liberian Registry to Recognize Green Award Ships
Liberia has become the first flag state to participate in the Green Award program, under which eligible shipowners will be offered significant annual tonnage tax discounts. Green Award is a global, independent, not-for-profit quality assurance organisation which certifies ship managers and vessels that go beyond industry standards in terms of safety, quality and environmental performance. The scheme…
K Line Expands Use of ClassNK CMAX LC-A
“K” Line Ship Management (Singapore) Pte Ltd has selected ClassNK Consulting Service’s machinery condition monitoring and automatic diagnostic system ClassNK CMAXS…
Otto Marine Shares Soar on Delisting Offer
Shares in Singapore-based oilfield services firm Otto Marine Ltd jumped 37 percent on Thursday after the company received an offer from its majority shareholder to take it private. Executive Chairman Yaw Chee Siew, who owns 61 percent of the company, offered S$0.32 per share in cash through a special purpose vehicle, according to a stock exchange filing late on Wednesday. The company, which has a current market capitalization of S$67 million ($50 million)…
KTsat, SpeedCast to Provide Comms to 150 vessels
SpeedCast International Limited, a global satellite communications and network service provider, and KTsat, the satellite service provider in Korea, have announced…
Japan LNG Prices Fall to Lowest in More Than 2 Years
Prices for liquefied natural gas (LNG) spot cargoes for Japan, the world's top buyer, fell in May to the lowest since the trade ministry started publishing figures more than two years ago…
FPSO Crew Rescues Trapped Sea Turtle
Shortly after lunchtime on June 5 onboard FPSO Cidade de Rio das Ostras, a crew member spotted a sea turtle trapped in a fishing net drifting on the surface of the waves. A report was made immediately after the sighting and after a brief meeting, a decision was made to launch Fast Rescue Craft (FRC) to attempt to save the trapped sea turtle. Supervised by Chief Officer M. Slotwinski, the FRC made its way to the rogue fishing net.
US Ports Gear up for 2016 Shipping Season
The St. Lawrence Seaway opened two weeks earlier this shipping season and U.S. ports took advantage of the warm weather to move cargo for their customers. Betty Sutton, Administrator of the U.S. Saint Lawrence Seaway Development Corporation said, “During the first nine weeks of the 2016 navigation season, ships arrived from 30 countries and delivered high value cargo that supported a wide range of manufacturing.
Springfield Shipping Extends Work with Eniram
Greek company Springfield Shipping Co. announced that Eniram, the provider of energy management technology and analytic services to the shipping industry, has been selected for a further roll out of its energy efficiency technology for its VLCC vessels. “We are very pleased to be working with Eniram and look forward to a productive, long-lasting relationship,” commented Springfield Shipping Co. “Our…
APM Terminals Pipavav Completes Expansion
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) reports it has completed its capacity expansion project on time and within budget, increasing its annual container throughput handling capacity from 850,000 TEUs to 1.35 million TEUs. As part of the expansion plan, APM Terminals invested around Rs. 400 crore. The investment included buying new STS cranes, strengthening the existing berth, dredging and the improvement of the container yard and internal roads at the port.
US Navy Admiral to Plead Guilty in Bribery Case
A U.S. Navy rear admiral will plead guilty on Thursday to lying to federal investigators, making him the highest-ranking officer to be convicted in the expanding "Fat Leonard" bribery case, the Washington Post reported, citing his attorney. Robert Gilbeau, a special assistant to the chief of the Navy Supply Corps, was scheduled to appear in U.S. District Court in San Diego late Thursday afternoon, the Post reported, citing court records.
Ferus Smit Launches Arklow Cadet
Dutch shipbuilder Ferus Smit has launched its Nb. 424, MV Arklow Cadet, on June 9 at the Westerbroek yard. Bulk carrier MV Arklow Cadet is the first in a series of 10 vessels for Irish client Arklow Shipping. With a maximized hold volume of 220,000 cft and a carrying capacity over 5,000 deadweight tons, the vessel falls under the 3,000 gross tons limit. Arklow Cadet has one single hold and an 1A iceclass notation. It is propelled by a 1,740 kW MaK engine with a single ducted propeller.
VT Halter Delivers ATB Tug for Bouchard
VT Halter Marine, Inc. has delivered the 6,000hp Twin Screw Articulated (ATB) tug, MV Frederick E. Bouchard, to owner Bouchard Transportation Co., Inc. at the shipbuilder’s facilities in Pascagoula, Miss. on Wednesday, June 8, 2016. The delivery, which culminates a two-vessel contract awarded by Bouchard Transportation to VT Halter Marine in August 2014, follows the delivery of the contract’s first vessel, MV Morton S. Bouchard Jr., on February 1, 2016.
Panama Canal Expansion: Test Runs Begin
Initial test runs through the expanded Panama Canal began Thursday as tugs led a bulk carrier into the first set of locks on the Atlantic side of the canal, AP reports. Chartered to perform the test operation is the 836-foot-long bulker Baroque, which is not as large as the New Panamax ships (measuring up to 1,200 feet) due to transit the waterway following its formal opening on June 26. The Malta-flagged Baroque wasn't carrying cargo on the first run through the Agua Clara locks.
FMC Chairman Addresses US-China Regulatory Issues
Consolidation of shipping lines, realignment of carriers alliances, environmental improvements in the shipping industry and achieving supply chain efficiencies were all among topics addressed during the U.S.-China Bilateral Maritime Consultations held in Los Angeles last week. Federal Maritime Commission (FMC) Chairman Mario Cordero co-headed the U.S. delegation to the meeting with Deputy Maritime Administrator Michael Rodriguez.
US Navy's New Oceanographic Vessel Sets Sail
The U.S. Navy's newest oceanographic survey vessel, USNS Maury (T-AGS 66), recently completed its maiden voyage from Pascagoula, Miss., where it was constructed at VT Halter Marine, to Port Everglades near Ft. Lauderdale, Fla. In Maury's first days at sea, the civilian survey detachment from the Naval Oceanographic Office (NAVOCEANO) aboard performed initial testing of routine over-the-side operations as well as testing equipment unique to the ship…
US Retail Import Patterns Still Uneven
Import cargo volume at the nation’s major retail container ports is expected to be mostly down through the summer but should see a significant uptick just before the winter holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “The unusual patterns seen last year in the aftermath of the West Coast ports slowdown are continuing to make valid year-over-year comparisons difficult…