Fresh Paint Job for the Queen Mary
Restoration work has started on iconic steamship TS Queen Mary, which is in the process of being transformed into one of the U.K.’s largest interactive maritime exhibits. Regarded as the vanguard of 1930s Scottish engineering, Queen Mary was built in 1933 and is the last of its class in the world. Now the 252-foot vessel is set to become a visitor attraction which will make a major social contribution to the City of Glasgow.
Great Lakes/Seaway Iron Ore Trade Up in August
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6,048,409 tons in August, an increase of 2.9 percent compared to a year ago, according to the Lake Carriers’ Association (LCA).
MN100: Jagco Industries
Jagco Industries is a manufacturer of Flexible metal hose assemblies for automotive, Inland Marine, industrial, trucking & Rail. It also manufactures “UNI-FLEX” exhaust couplers for cars & trucks. More familiar to workboat clients, the firm also manufactures Expansion Joints, Pump Connectors, and Exhaust Assemblies for Marine, Industrial & Rail. Jagco produced the first USA Made aftermarket flexible exhaust coupler for cars & trucks.
South Korea: 'Tough Luck' to Hanjin
The South Korean government, long a bastion of support for the country's big conglomerates, is sticking to its hard-line stance on Hanjin Shipping Co Ltd , whose…
Hanjin Shipping Secures $45 mln to Rescue Stranded Cargo
Parent group transfers $36 mln to troubled shipper. It may cost over $150 mln to unload stranded cargo. The chairman of Hanjin Group transferred 40 billion won ($36 million) to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said, but regulators warned securing further funds could take "considerable time". The parent of Hanjin Shipping pledged…
Salalah Port's Volume Surges
Container throughput at the Port of Salalah, part of the APM Terminals Global Terminal Network, reached 1.584 million TEU* in the first half of 2016, representing a 29% increase over volume handled during the same period the year prior. The completion of a new deep-water General Cargo and Liquid Bulk Terminal in December 2015 has enabled significant growth, with the facility handling approximately one million metric tons monthly.
Cost Reduction of Well Construction on UK Continental Shelf
Since 2004, well construction costs in the UK Continental Shelf (UKCS) have doubled, directly impacting drilling activity which is currently at an all-time low. However, collective industry efforts are already focusing in on how a reduction in core drilling costs of 50 per cent could potentially unlock around five billion boe of known reserves over the next decade. The significant work the industry…
Statoil: Considerable Johan Castberg spin-offs
Statoil’s proposed impact assessment programme for the Johan Castberg project reveals that the project will be important to Norwegian industry and have strong ripple effects. During our improvement work we have created new opportunities for the Johan Castberg field in the far north. We have changed the concept and found new solutions that allow us to realise the project. But we are still vulnerable to increasing costs and a continued low oil price…
Moore Stephens says Shipping Must Improve Risk Management
Not enough companies in the shipping industry are following joined-up risk management procedures, according to international accountant and shipping adviser Moore Stephens. The second annual Moore Stephens Shipping Risk Survey revealed a fall, when compared to last year, in the overall level of satisfaction on the part of respondents that sound risk management had contributed to the success of their organisations.
Superlift on Aircraft Carrier John F. Kennedy (CVN 79)
Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding division placed a 900-ton superlift into dry dock, continuing construction of the nuclear-powered aircraft carrier John F. Kennedy (CVN 79). As Kennedy begins to take shape in the dry dock, the ship’s cost and construction schedule continue on track with significant improvement over its predecessor, the first-of-class Gerald R. Ford (CVN 78).
Jan De Nul NV expands Jamaican Port
Jan De Nul NV is part of a consortium that is responsible for the expansion of the port of Kingston. In 25 months the access channel and the port basin will be deepened, and the berths on the existing quay walls will be reinforced and renovated. Hence, the port will be able to provide access to larger container vessels , which will find their way to the region more easily thanks to the expansion of the lock complex in the Panama Canal.
LNG Tanker En Route to Malta Leaves Singapore
The LNG tanker Armada LNG Mediterrana – or floating storage unit that will be permanently berthed at Marsaxlokk has finally left Singapore harbour, reports Malta Independent. The ship is currently making 9 knots and is heading towards the port of Galle in Sri Lanka, where it is expected to arrive on 18 September. Its arrival date in Malta is not yet known. Prime Minister Joseph Muscat and Minister…
Maersk May Face Crisis: Economist
Shipping industry faces worse storm than after financial crisis. The industry has been squeezed on both the supply and demand sides: too many vessels have been built and not enough scrapped, while global trade has slowed down. The Economist says that the industry leader A.P. Moller-Maersk is not exempt from the crisis. "Eyes are trained on changes at Maersk Group in particular, which has long set the course for the industry.
Consolidation of Yard Capacity for Healthy Shipping
A dramatic collapse in newbuild orders due to a weak market environment across all shipping sectors is putting pressure on the global shipbuilding industry, says Teekay Corporation. Just 7.2 million compensated gross tones (CGT) of new orders have been placed through the first eight months of the year, by far the lowest year for new orders since at least the early 1990s, and possibly longer (accurate orderbook data is patchy pre-1996).
Global Spill Response Contract Sparks Interest
The ISCO-BIMCO spill response contract was well received at the ACI Maritime Salvage and Casualty Response Conference that took place in London last week. The contract is still under development, but is expected to be published towards the end of this year. Grant Hunter, BIMCO’s Chief Officer Legal and Contractual Affairs, who spoke at the conference said:“There was an encouraging level of interest from the conference participants in the new spill contract and its aims and objectives.
Developing a Roadmap for Green Coastal Shipping
The Norwegian authorities’ target for 2030 is to reduce greenhouse gas emissions by 40% compared to what they were 40 years earlier. By doing so, Norway will set the direction for the shipping industry and continue to be a front-runner. The entire Norwegian shipping industry as well as the Norwegian authorities have gathered to create the Green Coastal Shipping Programme. The programme participants…
Hyundai Heavy, CNH Industrial in Mini Excavator Alliance
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading construction equipment manufacturer, announced today it enters into an exclusive strategic alliance agreement with CNH Industrial, one of the world's largest capital goods companies, for the mini excavator business. Under the 10-year-long-agreement with a renewal option for three years, CNH Industrial will market 4 mini excavator models that will be supplied as complete products by HHI through OEM production…