Asia Tankers-VLCC Rates to Hold, Ample Tonnage Weighs
"Pure" chartering market with little disruption. Rates to hold around W45 for Middle East; W48 for West Africa. Freight rates for very large crude carriers (VLCCs) are likely to hold steady around existing levels as new vessel deliveries and a reduction in port delays weigh on a ample cargo market, ship brokers said. "The market will not be majorly different next week. VLCC rates have been limping along," a Singapore-based supertanker broker said on Friday.
Ship of the Year Award for NYK Vessel
Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards sponsored by the Japan Society of Naval Architects and Ocean Engineers (JASNAOE). An awards ceremony was held on July 7 at the Kaiun Club in Tokyo. This is the 26th year that JASNAOE has recognized the most technically advanced, well-designed…
G6 Updates Asia-North America West Coast Service
Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance today announced a change within their Asia - North America West Coast products in response to changes in market demand. All other services of the G6 Alliance covering Asia to North America West Coast will remain unchanged. The G6 Alliance continues…
Boskalis Awarded Aberdeen Offshore Wind Farm Contract
Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm, also known as the European Offshore Wind Deployment Centre. Following the announcement on 29 June stating that Boskalis was the preferred contractor, the contract has now been formally awarded. The project will consist of eleven wind turbines with a capacity of 92.4 MW.
IRClass First to Certify Indian Recycling Yards per EU Standard
IRClass is amongst the first organizations in the world to certify ship recycling yards according to EU standards as an ‘Independent Verifier’. IRClass Systems and Solutions Pvt. Ltd. (ISSPL), an entity promoted by Indian Register of Shipping, has certified four leading ship recycling yards in Alang as an ‘Independent Verifier’ in accordance with the requirements of European Union Ship Recycling Regulation (EUSRR) 1257/2013. * R.L. * Leela Ship Recycling.
Great Lakes Dredging Awards Announced
Great Lakes Dredge & Dock Corporation announced that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two awards for coastal protection work required along the East Coast as a result of the extensive damage caused by Super Storm Sandy in 2012 and other more recent storms. The first award is a $30 million contract that involves sand replenishment and dune building from Kismet to Seaview on Fire Island, New York.
Singapore Well-positioned to Benefit from Brexit Permutations
Singapore’s position as Asia’s leading maritime services hub is likely to be enhanced in a post-Brexit environment, according to Singapore-based Ince Law Alliance, comprising Ince & Co Singapore LLP and Incisive Law LLC. The UK’s decision to leave the European Union has seen Sterling fall to $1.30 against the US dollar, with many commentators predicting a recession that could negatively impact the country’s maritime sector, which contributes £4.4 billion to the UK economy.
Drydocks World Conforms to FPC under EU Regulation
Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors has successfully been certified to European Standards EN 1090 – 1 and EN 1090-2. The certification program is part of the European Union’s Construction Products Regulation CPR 305/2011. Drydocks World’s main yard activities undertaken in its facility are found to be complying with Factory Production Control (FPC) requirements by the auditing body.
Philippines' Offshore Oil Still in Doubt
The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government infuriated…
China to Add 8 Cruises to Push Tourism in South China Sea
Three State-owned enterprises from the shipping, tourism and construction sectors will cooperate to equip up to eight cruise liners and offer diversified sightseeing services to tap the travel market in the South China Sea, says China Daily. Sanya International Cruise Development Co Ltd, a joint venture by COSCO Shipping, China National Travel Service (HK) Group Corp and China Communications Construction Co Ltd, will buy between five and eight ships.
HK Shipping Tycoon George Chao Dies
Following a long illness George Chao, a shipping legend in Hong Kong and president of Wah Kwong Maritime Transport, died, aged 76, in hospital. WAH Kwong Maritime Transport Holdings, established 64 years ago, is now one of the largest privately owned shipowners in Hong Kong. George Chao is one of four sons of T.Y. Chao, the founder of Wah Kwong, and father of Sabrina Chao, the current chairman of the company. The Chao family represents one of the most prominent of Hong Kong’s shipping dynasties.
Ship Engine Emissions Adversely Affect Macrophages
A study conducted by Germany’s Helmholtz Zentrum München and University of Rostock found that ship emissions adversely affect the health of inhabitants of coastal regions. Since macrophages also play a key role in lung diseases such as COPD, the study is important for understanding the health risks of ship exhausts, says Science Daily. "Macrophages are known as scavenger cells of the immune system and respond more sensitively to particulate matter in the lungs than lung epithelial cells…
Safe Bulkers to Amend Loan Pact with RBS
Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has agreed with the Royal Bank of Scotland plc (RBS) to amend certain financial covenants and terms to an existing term loan facility with an outstanding balance of US $73.4 million. The total consolidated liabilities of the Company divided by its total consolidated assets charter inclusive must not exceed 90% until and including year-end 2017 and 85% from 2018 onwards.
Can Shipping Nations Act on Global Emissions?
Shipping was not included in the global temperature-reduction targets agreed in the historic 2015 Paris Agreement on Climate Change, yet the shipping industry pledged to move forward “in the spirit of Paris,” says a report in the WSJ. There is much businesses and shipping nations can do to act on global emissions standards, says the report. The fight against climate change “a top priority,” says Kitack Lim, the International Maritime Organization (IMO)’s secretary-general.
IMO Workshop in Morocco Promotes Energy Efficiency Measures
An International Maritime Organization (IMO) workshop is raising awareness of the organization’s regulatory regime dealing with improving energy efficiency and the control of GHG emissions from ships. Participants from Moroccan governmental departments, port authorities and maritime training institutes are attending the three-day “MARPOL Annex VI and Technology Transfer” workshop, taking place in Rabat, Morocco (19-21 July).
Rescuers Recover 17 bodies, pick up 1,128 Migrants
An Irish navy ship recovered 17 dead bodies on Thursday when it went to the aid of migrants packed onto a wooden boat off the coast of Libya, Italy's coastguard said…
First U.S. LNG shipment to cross expanded Panama Canal
The United States will ship its first liquefied natural gas (LNG) cargo through an expanded Panama Canal next week. The waterway shaves distances between export…
GTT Cuts Outlook on Ship Construction Delays
French supplier of systems for marine transportation of liquified natural gas (LNG) Gaztransport & Technigaz (GTT) reported strong growth in its first half results…
Post-Brexit Exclusion From EU Ports Plan Could Help British Terminals
British ports could gain a competitive edge in tough shipping markets through post-Brexit exclusion from planned European Union regulation of the sector, leading British port officials told Reuters.
Trieste Terminal Selects N4 TOS
Navis has announced a new N4 terminal operating system (TOS) licensing agreement with Italian terminal, Trieste Marine Terminal (TMT). TMT selected the Navis TOS to optimize the terminal’s operational cycle and lower costs. The ultimate goal is to increase TMT’s efficiencies so customers can experience improved productivity. Trieste Marine Terminal located in Trieste, Italy is the only specialized container terminal…