COSCO to buy 51 pct stake in Piraeus Port
China COSCO Shipping, which owns the world's fourth largest container fleet in terms of capacity, is expected to wrap up the purchase of a majority stake in Greece's largest port…
Asia Tankers-VLCC Rates to Fall but Bottom in Sight
VLCC owners sailing slower and idling vessels; slow market to continue into September. Freight rates for very large crude carriers (VLCCs), which hit multi-year lows on Thursday, could slip further next week even as ship owners begin to resist charterers attempts to push rates lower, ship brokers said. "The market has come crashing down - there are so many ships available. Charterers are taking no prisoners," a European supertanker broker said on Friday.
SGX Prods Baltic Exchange Shareholders to Okay Bid
Total valuation of potential deal at least $113 million; Baltic shareholders key to clinching sale agreement. Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions…
Injured Mariner Medevaced from Tanker off Florida
The U.S. Coast Guard medevaced a man Thursday who sustained a head injury 90-miles east of Jacksonville. A Coast Guard Air Station Savannah MH-65 Dolphin helicopter crew medevaced the 33-year-old man from the vessel Eagle Texas, an 800-foot tanker homeported in the Marshall Islands. Coast Guard Sector Jacksonville command center watchstanders were notified Wednesday of a crew member who fell into a cargo hold and sustained a head injury.
Versatile Response Vessel from Russia
A challenge for designers or an emergency response vessel is deciding to what type of emergency the boat will respond. The designers at the non-government Marine Engineering Bureau in Odessa Ukraine have fitted a very wide range of capabilities into their 31.73 by 9.7-meter tug. The vessel’s beams and 4.1-meter molded depth will give it the stability for handling heavy ships. The azimuthing stern drive tug will be ready to handle a wide range of services.
US Crude Oil Exports Plunge in June
U.S. crude oil exports plunged by more than 40 percent in June, foreign trade data from the U.S. Census Bureau showed on Friday, after Brent's premium to U.S. crude…
This Day In Naval History: August 5
1832 - USS Potomac, becomes the first U.S. Navy ship to entertain royalty, King and Queen of Sandwich Islands. 1858 - The last bit of cable is laid by USS Niagara…
US Trade Deficit Rises to 10-month High in June
The U.S. trade deficit rose to a 10-month high in June as rising domestic demand and higher oil prices boosted the import bill while the lagging effects of a strong dollar continued to hamper export growth. The Commerce Department said on Friday the trade gap increased 8.7 percent to $44.5 billion in June, the biggest deficit since August 2015. May's trade deficit was revised slightly down to $41.0 billion. June marked the third straight month of increases in the deficit.
Tawas Point Lighthouse to be Turned off in September
The U. S. Coast Guard said it will turn off the light inside the Tawas Point Lighthouse navigational aid in East Tawas, Michigan, in September and activate a new lighted aid to navigation about 3,000 feet away at Tawas Point where the fog signal is located, providing better visibility to mariners. In addition to the new location, the light characteristic will change from an occulting white light that appears red from some areas…
Turkey Sets Import Tax on Thermal Coal
Turkey imposed a tax this week on imports of thermal coal from Colombia, Russia and other major exporters, for use in power generation, to support domestic coal production.
Conrad to Build a Crane Barge for US Army Corps of Engineers
Conrad Shipyard said it has been awarded a contract by the U.S. Army Corps of Engineers for the construction of a crane barge that will operate on the Olmsted Locks and Dam Project. “Conrad Shipyard has a long history of building vessels for the Army Corps of Engineers,” saidJohnny Conrad, Conrad President and Chief Executive Officer. The crane barge, which will be built at Conrad’s Morgan City shipyard, has a hull length of 110’-6”, beam of 60’ and molded depth of 8’-6”.
Japan Protests China's Sailing Near Disputed Islets
Japan protested to China on Friday after Chinese coastguard ships and fishing vessels entered what Tokyo considers its territorial waters around a group of disputed islets…
US, South Korea Discuss Naval Security
Chief of Naval Operations (CNO) Adm. John Richardson met with his South Korean (ROK) counterpart, Adm. Jung Ho-sub at the Pentagon August 4 for a discussion focused on the strengthening partnerships and ways to work together to increase maritime security throughout the Indo-Asia Pacific. “It's extremely important as we work together – as our two navies work together – that you and I have a personal relationship…
Kongsberg Wins EPC Work for Heavy Lift Units
Kongsberg Maritime has been awarded offshore EPC contracts worth more than NOK 520 million from the China Merchants Heavy Industries (CMHI) covering the deliveries…
Fennica Grounding Caused by Inaccurate Charts
The July 2015 grounding of icebreaker Fennica near Dutch Harbor, Alaska was found to be caused by inaccuracy of nautical charts in the area, according to the U.S. Coast Guard’s Report of Investigation (ROI). The Finnish multipurpose icebreaker, owned by Arctia Offshore, was carrying the capping stack for Shell’s planned arctic drilling when it ran aground and suffered a gash in its hull on July 2, 2015. The event did not cause any injuries or damage to the environment.
US Oil Drillers Add Rigs for 6th Week in a Row
U.S. drillers this week added oil rigs for a sixth consecutive week, according to a closely followed report on Friday, despite crude prices falling to April lows below $40 a barrel this week.
Workboat Spotlight: Russian Tugs from Pella Shipyard
Russia’s Pella Shipyard advertises a range of five ASD tugs. Their model 90600 has proven popular with customers returning for sister ships. Currently the yards has one of these handy-sized 25.4 by 8.8-meter tugs under construction for the ship and submarine builder JSC Admiralteiskie Verfi. With a long list of design features, including fi-fi capabilities, centralized controls in the wheelhouse and operational reliability in severe ice conditions.
Nautican Launches Standardized IPU Series
Nautican said it has completed the pre-engineering of new standardized components for a full range of Integrated Propulsion Units (IPUs) for propeller diameters from 64-156”, forming the core of the new Nautican Ocean Series IPUs. According to Nautican, this new series allows it to rapidly design a complete system for each customer, based on standardized components. “Engineering used to be our biggest bottleneck,” said Elizabeth Reynolds Boyd, President of Nautican.
Is it a Ship or Iceberg?
Developing the capability to discriminate between ships and icebergs in northern latitudes is a common interest shared by Canada’s Department of National Defense (DND) and the oil and gas industry. For DND, the focus is on ship detection for maritime security, whereas oil and gas companies are interested in detecting icebergs to ensure primarily the safety and also the productivity of offshore exploration and production operations.
SS United States Will Not Return to Service
A comprehensive technical feasibility study has determined the SS Unites States to be structurally sound, but a number of insurmountable obstacles will keep America’s Flagship from returning to seagoing service. In February, Crystal Cruises reached a deal with the SS United States Conservancy to restore what was once the world’s fastest, safest and largest passenger liner to a fully operational modern luxury cruise ship, pending the results of a technical feasibility study.