EURONAV Selects Jotun’s HPS for Two Suezmax Vessels
EURONAV has selected Jotun’s Hull Performance Solutions (HPS) for two of its Suezmax vessels. The agreement will see Samsung-built sister ships M/T Cap Guillaume and M/T Cap Philippe receive coatings of Jotun’s advanced SeaQuantum X200 antifouling, alongside full suites of measurement sensors applied to their hulls. The applications, taking place at upcoming dry dockings at Keppel Shipyard in Singapore…
UK Overhauls its Survey and Inspection Program
Plans to ensure there is a full maritime survey and inspection team covering the whole U.K., will see more remote working and a slight change to where some of the marine offices are based. The U.K.
ClassNK Launches NK-SHIPS App
Classification society ClassNK has launched the NK-SHIPS app, a mobile version of the free, web-based information service NK-SHIPS for owners, operators and managers of NK-classed vessels or vessels whose ISM/ISPS/MLC are registered with ClassNK. Clients can now access information to manage their fleet on-the-go using the app via their smartphone or tablet. Developed for an optimized viewing experience, the NK-SHIPS app allows for quick and easy navigation.
Second of Nine New TNPA Tugs Sets Sail
The latest of Transnet National Ports Authority’s (TNPA) nine new tugboats has set sail from the Durban premises of contractor, Southern African Shipyards, on Thursday, July 7, destined for its new home at the Port of Port Elizabeth. The tug was ceremonially launched as Qunu in May alongside a third tug, Cormorant. Qunu was named after the Eastern Cape home village of former President, the late Nelson Mandela and is due to arrive in Port Elizabeth on Friday, July 8.
Asia Dry Bulk Capesize Rates to Climb
Freight rates for large capesize dry cargo ships on key Asian routes could move higher next week on a potential ship shortage, higher cargo volumes and storms in China that could disrupt sailing schedules leading charterers to scramble to fix replacement tonnage, ship brokers said. "We do not have a lot of ships available off Brazil to load cargo at the end of July. That will likely support freight rates," said a Shanghai-based capesize broker.
Panama Canal Extension May Be Bad for Some Shippers
The newly inaugurated Panama Canal may not be as beneficial as it seems for container ship carriers, says Xeneta, a benchmarking and market intelligence platform for containerized ocean freight. Although the new sets of locks and deeper, wider shipping channels will potentially double the waterway’s capacity, giving neo-panamax vessels access for the first time, the increased efficiencies may actually…
Keppel, Shell form Singapore LNG Bunkering Joint Venture
Keppel Corp Ltd said it entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore.
This Day In Naval History: July 7
1798 - Congress rescinds treaties with France, and the Quasi War begins. 1846 - During the Mexican-American War, Commodore John D. Sloat, disembarks from his flagship frigate, USS Savannah, at Monterey and claims California for the U.S. 1915 - Thomas A. Edison becomes the head of the Naval Consulting Board, which screens inventions for the Navy. 1944 - USS Mingo (SS 261), USS Skate (SS 305), USS Sunfish (SS 281), USS Flasher (SS 249), and USS Bonefish (SS 223) sink up to eight Japanese ships.
EU Accepts Antitrust Concessions from Maersk, MSC, Others
EU antitrust regulators accepted on Thursday an offer from Maersk, the world's largest container shipping liner, and 13 other competitors to change their pricing practices. The companies agreed to publish binding actual rates 31 days before they go into effect, with the figures acting as a price ceiling. Under the current system, they only publish the amount of the increase, not the final price. The other 13 firms are No.2 player MSC, No.
Italy Recovers 217 Bodies from Migrant Shipwreck
Italian emergency workers have recovered 217 bodies from the wreck of a boat that sank in the Mediterranean in April 2015, killing some 500 migrants, the Navy said on Thursday.
Higher Panamax Demand Boosts Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on increased demand for panamax vessels. The overall index…
General Dynamics Bags US Navy's VPM Contract
General Dynamics Electric Boat has been awarded a $116 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines, boosting strike capacity by 230 percent.
GPA Awarded $44M Grant
The Georgia Ports Authority has received a $44 million Fixing America's Surface Transportation (FAST) grant from the U.S. Department of Transportation to increase rail capacity at the Port of Savannah. "I would like to thank the Georgia Congressional delegation, including Congressmen Buddy Carter and Rob Woodall, and Senators Johnny Isakson and David Perdue, for their dedicated support of this program," said GPA Executive Director Griff Lynch.
NOIA’s Luthi Testifies at House Natural Resources Subcommittee Hearing
NOIA President Randall Luthi released the following statement after providing testimony today before the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources on H.R. “NOIA applauds Congressman Graves and Ranking Member Lowenthal for their bipartisan sponsorship of the Innovation in Offshore Leasing Act and thanks the Energy and Mineral Resources Subcommittee for holding today’s hearing. “Offshore energy development is a vital part of the U.S.
TGS Provides Second Quarter Update
Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2016 to be approximately USD 114 million. Multi-client investments for the second quarter are expected to be approximately USD 62 million. "Oil companies continue to be under pressure to reduce exploration and production spending. As a result, we still anticipate variability of seismic spending between quarters and across regions in the near term.
Scorpio Tankers Receives Commitment for Loan Facility
Scorpio Tankers Inc. announced that it has received a commitment for a loan facility up to $300 million from ABN AMRO Bank N.V., Nordea Bank Finland plc, acting through its New York branch, and Skandinaviska Enskilda Banken AB. The loan facility will be used to refinance the existing indebtedness on 16 MR product tankers, has a final maturity of five years from the first drawdown date and bears interest at LIBOR plus a margin of 2.5 percent per annum.
Keppel Secures Marine Projects worth S$120 mln
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) has secured four contracts worth a total of about S$120 million from repeat customers. Mr Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said, "We are pleased to secure new orders from long-time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades.
Damen Completes Thor Facelift
The DP1 jack-up vessel Thor owned by the DEME Group has completed a short stay at Damen Shiprepair Dunkerque (DSDu). During her time at the yard her hull was repainted in the new DEME livery and her thrusters inspected. Measuring 70 metres by 40 metres, she spent four days in one of the yard’s drydocks. A special docking solution was required due to the size of her aft thrusters, which are 3.825 metres high. Standard dock blocks are just 1.80 metres.
FAST Act Grant Awards Announced
The U.S. Department of Transportation (DOT) has announced 18 proposed grant awards for projects under the Nationally Significant Freight and Highway Projects Program. The program, also known as the Fostering Advancements in Shipping and Transportation for the Long-term Achievement of National Efficiencies (FASTLANE) grants, is a new competitive grant program established under the Fixing America’s Surface Transportation (FAST) Act to provide funding for nationally significant highway…
Shipping is the Least Optimistic Segment in Transportation
Shipping is the least optimistic industry within the transport sector, by a significant margin, according to the seventh The way ahead Transport survey from global law firm Norton Rose Fulbright. Only 15% believe that current market conditions are positive, down from 33% in 2015 and 69% in 2014. Overcapacity is the principal reason given for this lack of optimism (66%), followed, to a lesser extent, by economic uncertainty in key markets (27%).