Growth in the Leased Container Equipment Fleet to Slow
Following markedly slow growth of just 3.5% in 2015 due to decreased rental demand, the global leased container equipment operating fleet is forecast to increase by little more than 1% in 2016, according to the latest edition of the Container Leasing Industry Annual Report 2016, published by global shipping consultancy Drewry. By the end of 2015, leasing companies were again having to shift a sizeable factory stockpile, as well as contending with rental rates at an all-time low.
Hanjin files for Receivership, Ports Turn Away Vessels
Hanjin says asks court for its assets to be frozen; Hyundai Merchant looking to buy Hanjin's "good" assets. South Korea's Hanjin Shipping Co Ltd filed for court receivership on Wednesday after losing the support of its banks, setting the stage for its assets to be frozen as ports from China to Spain denied access to its vessels. Banks led by state-run Korea Development Bank (KDB) withdrew backing for the world's seventh-largest container carrier on Tuesday…
Long Beach Port Acquires 125 Acres for Cargo Ops
U.S. Navy, Maritime Administration and California Environmental Protection Agency representatives joined City and Port officials today to commemorate the approval to transfer ownership of 125 acres of the former Naval Complex to the City of Long Beach. The property transfer commemoration highlighted the economic success of a thriving shipping terminal and other operations at the former Navy facility.
3sun CEO Chairs Offshore Wind SIG
3sun Group, specialist provider of products and services to the global energy industry, is reinforcing its ongoing commitment to the offshore wind industry with CEO Graham Hacon chairing a new special interest group. The Offshore Wind Supply Chain Special Interest Group (SIG) has been initiated by local trade organisation EEEGR (The East of England Energy Group) with the aim of addressing industry issues head on and encouraging local companies to work together.
Wärtsilä BWMS for Three Maersk Tankers
Maersk Tankers A/S of Denmark has selected Wärtsilä's Electro Chlorination (EC) Ballast Water Management System (BWMS) for three new 50,000 DWT medium range (MR) tankers being built at the Samsung Heavy Industries (Ningbo) yard in China. The order was signed in the second quarter of 2016. Ensuring compliance with the upcoming IMO Ballast water management convention is becoming a priority for ship owners…
APM Terminals to invest $70 mln in Port Elizabeth Terminal
The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015. In 2014, The Port Authority of New York and New Jersey committed to a ten year, agency-wide capital investment campaign for transportation infrastructure. Over USD 200 billion in cargo value moves through the port that serves one of the most attractive…
Hyundai Merchant Marine to buy Hanjin's 'Good' Assets
South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.
MN100: Pacific Power Group
Established in 1958, Pacific Power Group has been a trusted partner for the marine power needs of the Western U.S. for more than 50 years. PPG provides premier propulsion systems that offer cost-effective and best-in-class propulsion solutions for a variety of fields. The firm has 300 employees. PPG powers numerous defense vessels, equipping mission-critical operators like the U.S. Coast Guard, City of Portland Fireboats, just to name a few.
This Day In Naval History: August 31
1842 - Congress replaces the Board of Navy Commissioners, a group of senior officers who oversee naval technical affairs, with the five technical Bureaus, ancestors of the Systems Commands. One of the 1842 Bureaus, the Bureau of Medicine and Surgery, continues to serve under its original name. 1862 - The daily rum issued to US Navy sailors on board vessels is abolished. On July 14, by an Act of Congress, the spirit ration ceases Sept.
Royston Debuts Engine Diagnostics Service
Diesel power specialist Royston has expanded upon its traditional engine service and repair business with the introduction of a new engine diagnostics, health check and consultancy service. This follows significant investment in personnel recruitment and training, new technology and equipment, and an enhanced software capability for the in-depth analysis of engine and condition monitoring data, Royston said.
Caterpillar, SpecTec Optimize Ship Maintenance
Caterpillar Marine Asset Intelligence has announced a new project with maintenance management specialist SpecTec focused on optimizing ship maintenance. This joint accomplishment aims to reduce ship maintenance costs by enabling unnecessary maintenance to be deferred for shipboard equipment that is operating properly and identifying potential issues for action before a failure negatively impacts operations.
Global Maritime Completes Njord A Disconnection and Tow to Shore
Global Maritime Consultancy & Engineering, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has successfully led the disconnection and towing operations of the Njord A semi-submersible floating production platform from the Njord field. The Njord A platform arrived safely in Klosterfjorden on the August 23, where a handover to Kværner was achieved.
Arctic Sea Ice Melt Continues
As of August 14, Arctic sea ice extent is tracking third lowest in the satellite record, according to the National Snow & Ice Data Center (NSIDC). The southern route through the Northwest Passage appears to be largely free of ice. Despite a rather diffuse ice cover in the Chukchi Sea, it is unlikely that Arctic sea ice extent this September will fall below the record minimum set in 2012. As of August 14…
Evoqua to Launch Updated MGPS at SMM
Evoqua Water Technologies will launch an updated version of its Chloropac Marine Growth Prevention System (MGPS) at maritime trade show SMM Hamburg on September 6, 2016.
Ingalls Secures Design Work for US Navy’s New LX(R) Ships
Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been awarded a $13.7 million contract (with incremental funding) to perform contract design effort for the U.S. Navy’s amphibious warfare ship replacement, known as LX(R). “Ingalls has the finest shipbuilders and engineers in the world who make it their mission to meet the needs of the men and women of the United States Navy and Marine Corps,” said Ingalls Shipbuilding President Brian Cuccias.
MN100: McAllister Towing
McAllister Towing & Transportation operates a fleet of more than 75 tugboats, crew boats and barges in 17 locations along the U.S. East Coast from Portland, ME to San Juan, PR. The fleet consists of 28 Z-Drive/ Tractor tugs, 11 Tier II compliant tugs, 20 plus vessels involved in coastal towing and 35 ABS load line classed vessels. In each port, McAllister is engaged in ship docking, general harbor towing, coastal towing and bulk transportation.
Pivotal LNG, Carib Energy Reach Multi-Year Supply Deal
Pivotal LNG announced a multi-year agreement to sell liquefied natural gas (LNG) to Carib Energy LLC, a Crowley Maritime Corp. subsidiary. Crowley will transport and deliver LNG from the U.S. mainland to its newest client, Molinos de Puerto Rico, a subsidiary of Ardent Mills LLC, the island’s leading supplier of flour as well as wheat, corn and rice-based food ingredients. “Crowley’s partnership with Pivotal LNG continues to help our customers meet their energy needs with cleaner…
Calm Seas, Libya's Lawless State Open Door for Migrant Flows
Calmer seas and Libya's lawlessness have opened the way for smugglers to ship thousands of migrants across the Mediterranean this week, in a striking reminder of…
US Oil Output Seen on the Rise
Large U.S. shale oil companies, flush with cash raised through stock offerings, are gobbling up properties in the Permian Basin straddling Texas and New Mexico, a trend that could boost U.S.
Vallianz Rejects Payment Request from Swiber Managers
Vallianz Holdings, which provides support vessels for the oil industry, said on Wednesday it had refused a request from the judicial managers of shareholder Swiber Holdings to pay around $63.5 million in outstanding dues. Vallianz, in a statement, said Swiber, which owns around 25 percent of Vallianz, owed it a similar amount and that should be taken into account. Oilfield services group Swiber applied last month to place itself under judicial management…