Atlantic Hurricane Season to be Stronger than Expected
In its updated 2016 Atlantic Hurricane Season Outlook, NOAA calls for a higher likelihood of a near-normal or above-normal season, and decreases the chance of a below-normal season to only 15 percent, from the initial outlook issued in May. The season is still expected to be the most active since 2012. Forecasters now expect a 70-percent chance of 12–17 named storms, of which 5–8 are expected to become hurricanes, including 2–4 major hurricanes.
Gadkari Flags off Two Vessels from Varanasi, India
A trial run of two cargo vessels from the Aghoreshwar Bhagwan Ram Ghat Varanasi. The vessels viz. MV Joy Basudev (capacity 1400 tons) and MV V.V Giri (capacity 300 tons), contain newly assembled cars of Maruti Suzuki and construction material. Nitin Gadkari said that it was his wish that the Inland Waterways Transport system is inaugurated from Varanasi, the constituency of the Prime Minister. The…
Has the Link between OPEC Production and VLCC Rates broken?
For the tanker market, in particular for VLCCs, increasing Middle East OPEC production is typically a good sign. Poten and Partners in its Shipbrokers Reports says that does not appear to be the case at this particular moment, since the tanker market is mired in a slump with rates hitting multi-year lows. Is this an (temporary) aberration or has the traditional link between Middle East OPEC production and VLCC rates been broken?
Kogas Sign MoU for LNG Terminal in Mexico
South Korea’s Kogas (Korea Gas Corporation) has signed a memorandum of understanding (MoU) with the Mexican state of Yucatan to construct an liquefied natural gas (LNG) terminal and gas pipelines that would be worth up to $1.5 billion in a package deal. The LNG terminal will be built in the port city of Progreso in Yucatan, and gas pipe lines will be installed between the terminal to cities such as Merida and Cancun to supply LNG gas.
Maersk Cautions on U.S. Protectionism
Danish conglomerate A. P. Moeller-Maersk A/S, the world’s largest container shipping company, has voiced its concern as a potential shift in U.S. policy threatens to reduce global trade, reports Bloomberg. Maersk group's chief financial officer Trond Westlie said any steps in a more protectionist direction would clearly hurt global economic growth. No matter how the U.S. presidential election ends…
Salvors Assessing Grounded Transocean Drilling Rig
A team of eight salvors is now making its way on board the drilling rig Transocean Winner which is currently grounded off the Isle of Lewis. They’ll now be carrying out a full assessment of the rig and intend to work to make it habitable so that they can remain on it overnight. There’s also work being done to help provide a supply line for the team so they can get equipment and supplies on board. Rope…
Fishermen Rescued from Liferaft West of Cape Blanco
The Coast Guard rescued three fishermen from a liferaft 8 miles west of Cape Blanco at 1:15 p.m., Sunday. The three fishermen, reportedly uninjured, are aboard a Coast Guard 47-foot Motor Lifeboat en route to Station Coos Bay, located in Charleston, after abandoning their fishing vessel when it started taking on water. Coast Guard watchstanders at Coast Guard Sector North Bend received a mayday call from the fishing vessel McCalis…
Kiel Port Marks 2,500th Cruise Ship Visit
Kiel is today (Saturday, 13th Aug.) celebrating the arrival of its 2,500th cruise ship visitor Cunard Line’s “Queen Elizabeth”, which berthed this morning to mark the event. The President of the City of Kiel, Hans-Werner Tovar paid tribute to the occasion during a reception at the Ostseekai Cruise Terminal. “2500 visits are an enormous accomplishment and one achieved over many years of partnership and co-operation involving the port itself, shipping companies and service providers.
Two MOL Subsidiaries' Names Changed
Mitsui O.S.K. Lines, Ltd. today announced name changes for two of its major wholly owned subsidiaries: MM HOLDINGS (AMERICAS) INC. to MOL (AMERICAS) HOLDINGS, INC., effective July 7, 2016; and MITSUI O.S.K. BULK SHIPPING (ASIA OCEANIA) PTE. LTD. to MOL (ASIA OCEANIA) PTE. LTD., effective August 5, 2016. MOL (AMERICAS) HOLDINGS, INC. and MOL (ASIA OCEANIA) PTE. LTD. will strive to provide customers with high value-added services that demonstrate MOL’s comprehensive…
Maersk Drilling Delivers $164m Profit
Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days. The underlying profit was USD 164m (USD 189m), generating a ROIC of 8.3% (10.6%). “A high operational performance averaging 98% and further…
BBC Chartering launches office in Esbjerg, Denmark
BBC Chartering announces the re-launch of its presence in Denmark with a new representative office in Esbjerg opening August 15, 2016. “Global wind power saw an unprecedented growth recently, for the first time crossing 60 GW in new capacity installments in 2015. Consequently shipping volumes for the sector have increased significantly over the last two years“, observed Svend Andersen, CEO of BBC Chartering.
WFW advises GPH on Venice Cruise Port Acquisition
International law firm Watson Farley & Williams advised Global Ports Holding on the acquisition of two significant stakes in Venezia Terminal Passeggeri S.p.A made via Venezia Investimenti S.r.l., which is jointly owned in equal shares by GPH and fellow industry leaders Costa Crociere, MSC Cruises SA and Royal Caribbean. The first acquisition was of a 48% stake in APVS S.r.l. which owns 53% of Venezia Terminal Passeggeri, from Veneto Sviluppo S.p.A.
Asia N.Europe Box Rates PLunge 10.5 pct
Container spot freight rates from Asia to Northern Europe fell 10.5 percent to $771 per twenty-foot equivalent units (TEU) last week, data from the Shanghai Shipping Exchange showed. Freight rates from Asia to the U.S. Freight rates from Asia to the U.S. Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent.
Russia Starts Planned Naval Exercises in Eastern Med
Russia said on Monday it had started planned tactical exercises in the eastern part of the Mediterranean Sea to test the ability of the Navy to act in crisis situations of a terrorist nature.
Parker to Supply Three Arctic Vessels
Parker Bestobell Marine, a supplier of cryogenic valves and part of Parker, a leader in motion and control technologies, has received a major new order from DSME (Daewoo Shipbuilding & Marine Engineering) in South Korea to supply cryogenic valves for three new vessels. The company’s valves will be used in the cargo handling systems, including the main discharge line that controls the initial flow of LNG from the cargo tanks when pumping starts.
Kelvin Hughes bags Marseille VTS Radar Contract
Kelvin Hughes has been awarded the contract for the second phase of a radar system installation by the Port of Marseille Fos in Southern France. The Enfield-based company supplied five SBS-700 radar systems earlier this year that were integrated with the port's Vessel Traffic Management System (VTMS). The second phase has seen two more, identical models installed and commissioned at the port in July.
Grounded Bulk Carrier Refloated in Washington
The U.S. Coast Guard is responding to an incident involving a motor vessel that grounded in the Columbia River near Skamokawa, Washington, Friday night. The motor vessel Rosco Palm, a 751-foot Hong Kong-flagged cargo ship reportedly ran aground at 7:49 p.m. on Friday night, refloated, moved to a few miles upstream to mitigate collision risk and then grounded while at anchor on sand bottom while waiting for first light assessment.
Knud E. Hansen To Showcase ShipSpace at SMM
The ShipSpace product is a next-generation Virtual Reality (VR) Design Verification Tool that allows designers, engineers and key stakeholders to validate design ideas and communicate effectively about vessel concepts and designs. The product consists of computer hardware and software on the customer’s premises and in the cloud. KNUD E. HANSEN will be showcasing ShipSpace, a new Virtual Reality (VR) tool to aid ship designers and engineers, at the SMM in Hamburg.
Fort McHenry: Vane Brothers New 3,000hp Tug
Vane Brothers is hailing the newest addition to its fleet: the Fort McHenry, a state-of-the-art, 3,000-horsepower tugboat named in honor of the historic landmark that can be seen from the company’s Baltimore, Maryland, headquarters. Designed by Frank Basile, P.E., of Entech Designs, LLC, the Fort McHenry is the most recent of 12 “Sassafras Class” tugboats delivered to Vane since 2008 by Chesapeake Shipbuilding of Salisbury, Maryland.
Trident to Acquire Callenberg
Trident Maritime Systems (Trident), a portfolio company of J.F. Lehman & Company (JFLCO), signed a definitive agreement to acquire Callenberg Technology Group (Callenberg)…