Investment Cuts Slow Rebound for Offshore Oil Services -Bourbon
French oil services company Bourbon said on Thursday that any rebound in oil and gas prices will take a while to reach companies in the offshore marine sector because of deep cuts in investments during the prolonged oil downturn. Bourbon, whose fleet of about 513 vessels provides offshore services for oil and gas companies, said its net loss in the first half widened to 104.3 million euros ($117 million) compared with a net loss of 19.2 million in the same period a year ago.
Fitch Ratings Affirms Panama Canal's 'A' Ratings
Fitch Ratings has affirmed the following ratings for the Panama Canal Authority (ACP): Long-Term Issuer Default Rating (IDR) at 'A' and $450 million senior unsecured notes at 'A', reflecting the ACP's solid revenue profile and low leverage levels. Fitch Ratings highlighted that the Panama Canal provides unique connectivity and time savings for world maritime trade. In addition, Fitch Ratings stated that the rating outlook is stable…
Suezmax Delivered to Nordic American Tankers
Nordic American Tankers Limited (NAT) has taken delivery of a Suezmax new build tanker Nordic Star, built at Sungdong Shipbuilding & Marine Engineering Co., Ltd., South Korea.
Romanian Trading House Declined to Ship Egyptian Wheat Over Ergot Rule
Romanian grain trading house Cerealcom Dolj said on Thursday it had declined to ship wheat to Egypt because of new rules about ergot fungus content, refuting reports that Egyptian inspectors had rejected a 63,000 tonne cargo. Traders said on Wednesday that Egyptian inspectors had rejected the wheat shipment in a Romanian port after checking for ergot, the first time difficulties with a cargo at a loading port had been reported since Egypt introduced a zero content level on ergot late last month.
MN100: Northern Lights, Inc.
Founded in 1958, Northern Lights manufactures marine power generation, propulsion and air conditioning and refrigeration systems. The company’s products are distributed through a global sales and service network of over 340 dealers in more than 40 countries. Northern Lights manufactures marine generator sets from 5-500kW, designed to meet all current US EPA marine regulations. In April 2016, NLI opened its fifth branch office in Kenner, LA.
Hanjin Woes Seen Impacting Ports, Shipping Lines for 2-3 months -USDA
The collapse of Hanjin Shipping is expected to cause difficulties with port operations and shipping lines for 2 to 3 months, the U.S. Department of Agriculture said in a report published on Thursday. The failure of the world's seventh-largest container carrier is also expected to delay processing of U.S. agricultural products and will likely increase costs of imported agricultural goods in South Korea, the agency said. (Reporting by Karl Plume in Chicago)
Trader to Re-export Wheat it Could Not Unload in Egypt
Grain trading company Medsofts plans to re-export a shipment of 31,000 tonnes of Russian wheat it has been unable to unload in Egypt since July because of confusion about checks for the ergot fungus…
This Day In Naval History: September 8
1858 - The sloop-of-war USS Marion captures the American slave ship Brothers off the southeast coast of Africa. 1923 - At Honda Point, Calif., seven destroyers are run aground due to bad weather…
Ballast Water Convention to Enter into Force in 2017
Finland has acceded to the International Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM Convention), triggering the 2017 entry into force of an international environmental protection measure that aims to stop the spread of potentially invasive aquatic species in ships’ ballast water, the International Maritime Organization (IMO) said. Päivi Luostarinen, Ambassador Extraordinary and Plenipotentiary…
Total Lubmarine Launches Talusia Optima
Lubricants supplier Total Lubmarine has launched Talusia Optima, a new cylinder lube oil compatible with high sulphur heavy fuel oils and ultra-low sulphur distillate fuels.
Cruise Ship Transits the Northeast Passage
Expedition cruise ship Hanseatic has navigated the Northeast Passage for the second time, completing its journey through the Arctic Ocean sea route in the early hours of September 7, 2016. After sailing a total of 5,542 nautical miles, the ship will arrive in Nome on September 10 and officially end its cruise. In 2014, Hapag-Lloyd Cruises’ Hanseatic became the first non-Russian cruise ship to navigate the Northeast Passage…
New Cylinder Lubricant: Shell Alexia 140
Shell Marine has shared an insight into the approach driving its work to protect modern ultra-efficient diesel engines against cold corrosion while still optimizing cylinder oil feed rates…
MN100: Superior-Lidgerwood-Mundy Corporation
The Superior-Lidgerwood-Mundy Corporation (SLM) is the result of the combining of three companies who were engaged in similar activities. Over time, Lidgerwood purchased the Superior Iron Works of Superior, Wisconsin and Mundy Hoisting of Newark, NJ. Now all manufacturing and administrative activities of Superior-Lidgerwood-Mundy are accomplished at Superior, Wisconsin, which has over 65,000 sq ft of manufacturing and warehouse space.
New Ferry Designs Answer Asia Specific Challenges
Challenges of the Asian ferry market include large regional variations in cargo volume and composition, huge economic pressure on operators and unsatisfactory safety records especially in the developing countries, according to ship design company Deltamarin, who has answered these with its DeltaSAFER design family unveiled at the SMM 2016 exhibition in Hamburg. DeltaSAFER is a family of safe and affordable new-built ro-pax ferries, Deltamarin said.
VSAT Upgrade for MOL LNG Fleet
NSSLGlobal announced it has secured a deal with Mitsui O.S.K. Lines, Ltd. (MOL) subsidiary MOL LNG Transport (Europe) Ltd. to replace the VSAT systems on board MOL…
Fishing Vessel Burns up in Maine
A boat fire was extinguished Thursday off the coast of Jonesport, Maine. The was no one aboard at the time of the fire. At about 6:12 a.m., watchstanders at U.S. Coast Guard Sector Northern New England received a call from the owner, who was on shore, that his 32-foot fishing vessel Bigger Dirls was on fire in Hopkins Point Marina. Station Jonesport launched a 29-foot response boat crew. They arrived…
DNV GL Awards AIP for HMD’s Feeder Design
Today at the SMM trade fair in Hamburg, DNV GL presented Hyundai Mipo Dockyard (HMD) with an Approval in Principle (AIP) recognizing the technical feasibility of the new Con-Green 2000 vessel design under the new DNV GL rules. The Con-Green 2000 project brought together partners HMD, MAN Diesel & Turbo, Becker Marine Systems and DNV GL to develop a highly efficient, reliable and economic feeder design.
GPLink is the most capable remote diagnostic tool available for high horsepower systems. Globally, GPLink helps vessel owners and fleet managers by remotely plotting asset locations while also monitoring engines & critical systems. GPLink remotely monitors fuel consumption, idle time, engine hours, speed, engine load and more. Comprehensive reporting allows vessel managers to identify abnormal or wasteful behavior patterns. The firm has 15 employees.
Six Suezmax Tankers Earn BV Gas-Prepared Notation
International classification society Bureau Veritas is to grant GAS-PREPARED notation to six Suezmax tankers under construction for Dynacom Tankers Management. The 157…
MN100: HydroComp, Inc.
HydroComp, Inc. was established in 1984 to provide powering analysis services to naval architects and shipbuilders. Best known for its award-winning NavCad software, HydroComp is regarded as the premier source for performance prediction software, consulting, and knowledge. The firm’s offerings include NavCad, NavCad Premium, PropCad, PropCad Premium, PropElements, PropExpert, SwiftCraft, and SwiftTrial software. The firm has 8 employees.