FPSO Turritella Producing, On Hire
SBM Offshore stated that FPSO Turritella is formally on hire as of September 2, 2016 after achieving Commencement of Commercial Production (CoCP). The CoCP certificate was issued on September 8, 2016. The vessel is installed in Shell's Stones development located in 2,896 meters (9,500 feet) of water approximately 320 kilometers (200 miles) offshore Louisiana in the Walker Ridge area. The lease and…
GAC, Forth Join Forces to offer Mooring, Terminal Solutions
GAC UK and Forth Logistics Marine Services (FLMS) have formed a partnership to provide mooring and related terminal services around the UK. Formed on the back of a long term contract in the River Forth with an oil major to be announced later in the year, the pairing combines FLMS’s years of marine experience with GAC’s expertise and reputation for integrity as the leading ship agent in the UK and in the River Forth.
Virginia Port Turns a Profit Again
Governor Terry McAuliffe today announced that The Port of Virginia’s preliminary unaudited reports for fiscal year 2016 indicate that it will post an annual operating income of $4.76 million, the second year in a row that the port completed its fiscal year with profitability. “The Port of Virginia’s performance is meeting and exceeding the expectations of my administration,” said Gov. McAuliffe. “This financial turnaround is proof that the port’s wise investments in capital projects and people…
A&P to Partner with GEA for BWTS
GEA and A&P Group have signed a Memorandum of Understanding (MoU) regarding a cooperative partnership for the promotion of the ballast water treatment system GEA BallastMaster marineX at the marine trade fair SMM in Hamburg, Germany. The MoU with A&P Group covers the complete requirement from vessel survey, supply, installation, commissioning and service of the GEA BallastMaster marineX system by A&P Group.
Sovcomflot $ 1.26 bln Debt Financing Complete
SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD 512 million of bank loans raised for purposes of funding the fleet renewal and expansion programme and for the refinancing of maturing debt. The latest in this series were new long-term credit facilities for a total amount of USD 252 million signed in August 2016…
LNG Investment Swings to North America
The LNG industry is undergoing a dramatic transformation. North American activity (the majority of which is committed spend) is driving a return to growth in global capital expenditure. A wave of new LNG carrier newbuilds will also be required to support a huge increase in traded base-load LNG volumes. Douglas-Westwood’s (DW) new World LNG Market Forecast 2017-2021 indicates global LNG expenditure will total $284 billion (bn) between 2017 and 2021.
DNV GL Awards AIP for Hyundai Heavy's SkyBench
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced it received the second approval in principle (AIP) from DNV GL for SkyBench, a design for maximizing cargo loading capacity of large containerships. The classification society verifies the strength and structural analysis including the overall finite element analysis conforming to S11A rule, a partial ship analysis, an overall hatch corner’s relative deformation check…
Governments Must Act on Ballast Water Chaos: ICS
The International Chamber of Shipping (ICS) notes Finland’s significant announcement that it has acceded to the IMO Ballast Water Management Convention. This suggests that this new regime, to protect local ecosystems from the impacts of invasive species, will enter into force worldwide during September 2017. ICS therefore reiterates that it is now more vital than ever that IMO Member States finalise…
Supporting Maritime Women of the Caribbean
Work to support women in the Caribbean maritime industry is underway with the first conference of the Women in Maritime Association Caribbean (WiMAC) taking place in Grand Cayman, Cayman Islands (5-9 September). Under the theme "Charting the course for generations of women" the conference is drafting a strategic and regional agenda to support WiMAC’s mission to foster the development and participation of women in the maritime sector and contribute to the growth of the industry within the region.
Boosting Maritime Security in Cameroon
An International Maritime Organization (IMO)-led maritime security table top exercise is taking place in Yaoundé, Cameroon (6-8 September) for participants from a range of government departments and national agencies, including the Maritime Authority. The exercise encourages a multi-agency, whole of government approach to maritime security and maritime law enforcement issues. A range of evolving scenarios…
What to Expect From Hanjin Fallout?
South Korea’s biggest shipping company, Hanjin Shipping Co Ltd filed for court receivership in South Korea on Wednesday 31 August 2016 after losing the support of its banks, setting the stage for what has now become a motley situation. Ince & Co's Knowledge Bank takes a look. Some jurisdictions are refusing to allow Hanjin’s vessels to berth at their ports (on concerns that Hanjin cannot pay the port fees) while some of Hanjin’s vessels have instructions not to berth (for fear of ship arrest).
GoodFuels Marine, Boskalis Test Wood-Based Marine Fuel
Boskalis, the leading global dredging and marine expert, and GoodFuels Marine, the leading provider of sustainable marine biofuels to the global commercial shipping fleet, has announced to have performed successful live tests on a sustainable wood-based drop-in biofuel called UPM BioVerno. The tests were conducted on a vessel working on the Dutch Marker Wadden nature restoration project in the middle of the Markermeer lake.