DNV GL Backs John Laing on First Offshore Wind Investment
DNV GL successfully completed its due diligence work of the offshore wind farm “Nordergründe” in the North Sea, reviewing and quantifying the technical risks of the project. The John Laing Group commissioned DNV GL with the assessment and analysis of the project to make its investment decision and has announced its 30% stake acquisition of the wind farm. “Nordergründe” is the first offshore wind investment for John Laing…
Doing Business Differently to Meet Sustainability Targets: DNV GL
Pressure is mounting on the global oil and gas industry to reduce environmental footprint at the same time as the industry is under significant cost pressure. Since business as usual is not an option, DNV GL has launched two papers to advise the industry on how and where to make impactful changes within financial constraints. The paper, ‘A cost-efficient approach to reducing environmental impact’ provides…
Industry Wants Hanjin Shipping to Merge with Hyundai Merchant Marine
The Korea Shipowners’ Association (KSA) has officially suggested Hanjin Shipping merge with Hyundai Merchant Marine (HMM) to prevent court receivership and liquidation, reports Business Korea. This is the first time that the industry recommends the merger of the two companies. As placing Hanjin Shipping into court-led restructuring will co-destruct the nation’s shipping businesses, the company should stabilize the business and merge with HMM later.
India Shipping Ministry Enlarges Scope of Sagarmala
India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments for creation of infrastructure for movement of cargo and passenger by sea or National Waterways. This is in line with the Ministry’s port-led- development program-Sagarmala (India's maritime initiative) for creating better infrastructure and promoting costal shipping for saving logistic costs.
China Cosco Sinks into Red
Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half, down from the year-earlier profit of 2 billion yuan, reports Nikkei Asian Review. The shipping and logistics company 's sales climbed 3% on the year to 29.6 billion yuan. COSCO’s fleet had 304 vessels with total capacity of 1.61 million TEUs as of June 30…
SK Shipping Selects 5X72DF for LNG Carriers
Securing the position of its low-speed low-pressure X‑DF engines as market leaders, Winterthur Gas & Diesel (WinGD) has been selected to supply two 5-cylinder X72DF (5X72DF) engines for each of a pair of 180,000 m3 LNG carriers ordered by South Korean shipowner SK Shipping Co., Ltd (SK). The shipbuilding contract was signed in May 2016. The twin-skeg LNG carriers will be built by Hyundai Heavy Industries (HHI) and the engines by Hyundai Heavy Industries Co.…
Esvagt Makes Vestdavit MissionEase First Choice for Mission Bay
Norway-based boat system and davit-handling specialist Vestdavit has secured a breakthrough order for its unique MissionEase multi-boat handling solution for mission bays, under contract to offshore support vessel owner Esvagt. Multi-boat handling on the high seas will be a defining characteristic of flexibility for offshore ships in the years ahead, according to Vestdavit, and MissionEase’s fast and…
BV Classes First LNG-fuel Oil/Chemical Tanker
Leading international classification society Bureau Veritas has classed the first LNG-fuelled newbuilding oil/chemical tanker, the 15,000 dwt Ternsund, built under BV class at Avic Dingheng, China and delivered to Denmark’s Terntank Rederi at the end of June 2016. The new vessel is the result of close co-operation between Terntank, Avic and Bureau Veritas. The Ternsund is the first of a series of four ships all equipped with the Wärtsilä RT-flex50-D dual-fuel low-speed engine.
DNV GL Launches New Approach to Manage Uncertainty in Risk Assessment
There is increasing emphasis from regulators on addressing uncertainty in risk assessments to improve safety. DNV GL’s new paper, ‘Enabling confidence – addressing uncertainty in risk assessments’, describes an improved risk management approach to achieve adequate safety levels whilst keeping costs under control. The new approach has been developed in collaboration with the University of Stavanger, Norway, and reflects recent developments in the risk science community.
Krishnapatnam Port, Maersk Launches Mainline Service for China
Krishnapatnam, the country’s largest all-weather; deep water port on the east-coast of India has marked another milestone towards operational excellence as it launched its weekly mainline service from China to Krishnapatnam Port. The service to be operated by Maersk line in partnership with Hanjin Shipping of Korea will provide the fastest and most competitive service to the exporters and importers of Andhra Pradesh…
Jt Study by MOL, Yokohama University for Improving Ocean Shipping Market Forecast
Mitsui O.S.K. Lines, Ltd. today announced that the company and its subsidiary MOL Information Systems, Ltd. have signed a contract with Yokohama National University to conduct a joint study on the analysis and use of big data related to ocean shipping. The joint study is aimed at developing the capability to analyze data related to economics and maritime affairs and forecast the ocean shipping market…
Banks Halt Support for Hanjin
A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said, making it likely the nation's largest shipper is headed for bankruptcy as it is dragged down by a deep global industry downturn. South Korea's shipbuilders and shipping firms, which underpinned decades of economic growth, are reeling under debt after racking up losses amid a downturn caused by overcapacity and sluggish trade…
OSV firm Farstad Continues Restructuring Talks
Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. * CEO says Oct. * Farstad shares down 4.7 pct to 8.9 crowns at 1004 GMT compared to a rise of 0.5 pct in Oslo's benchmark share index.
MN100: MOPS Marine License Insurance
Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms, representing almost 200 experienced maritime attorneys, provides MOPS policyholders with personal legal representation from the marine casualty to final disposition. MOPS provides Unlimited License Defense, Full or Partial Income Protection…
ABB Launches Torque Monitoring System
ABB has launched a new torque monitoring system called Torductor Marine, which is aimed at optimizing engine and fuel efficiency in the maritime sector. The new offering will fit into ABB’s Marine Software portfolio, which visualizes the data for the onboard crew and can be shared with the ship’s shore-side support team. The launch of Torductor Marine follows on a successful trial aboard Stena Line’s freight ferry MV Stena Scotia, where sensors tracked the performance of the vessel’s engines.
FlameRanger Automatically Detects and Fights Fires
Unifire AB’s FlameRanger is a first-of-its-kind robotic nozzle system which automatically detects and extinguishes fires for fixed installations, indoors and outdoors, for numerous applications and industries. The system uses two FV300 Array IR Detectors to detect and locate a fire in three dimensions (x, y, z). Up to four fires can be detected simultaneously, and the system knows the size and volume of the fire(s) as well.
This Day In Naval History: August 30
1923 - USS Colorado (BB 45) is commissioned. Notable during her pre-World War II service, she helps in the search for missing aviator, Amelia Earhart, in 1937. During WWII, USS Colorado serves in the Pacific during World War II and is hit by kamikazes at Leyte in November 1944. 1929 - At New London, Conn., 26 officers and men test the Momsen lung to exit an intentionally-bottomed submarine. The device was created by Lt. C.B.
Klüber to Present New EALs at SMM
“Closer to you” is the motto, under which Klüber Lubrication will be presenting its latest environmentally acceptable lubricants (EALs) for ships and offshore installations at the SMM 2016.
Scienco/FAST is an original equipment manufacturer specializing in marine sewage devices, environmentally-friendly cleaners and other industrial water management technologies. These MSDs treat sewage and ensure compliance with ever-changing regulations. Scienco/FAST has several different models to offer, depending on physical footprint, weight of operating unit, access for retrofit installations, and price.
Another Tug Launched for Suderman & Young
Eastern Shipbuilding Group, Inc. said it launched on August 15, 2016 the final vessel in a series of four Z-Tech Class Terminal & Escort Tugs being constructed for Suderman & Young Towing Company. The tug Poseidon is scheduled to be delivered later in 2016. The launch ceremony was held at Eastern’s Nelson Street facility and hosted by Patrick D’Isernia, Project Manager of Eastern, with employees and guests in attendance.