Why Do Accidents Happen in Oil Industry?
As the oil and gas industry strives for cost effective execution in projects and operations while maintaining a high focus on safety and environmental footprint, innovative and smart solutions are needed more than ever. By extracting data and knowledge from all the detailed incident investigations performed over the years, solutions might be just around the corner. DNV GL now invites industry partners…
Teekay LNG May Issue Bonds to Fund Newbuilds
Teekay LNG Partners intends to issue new five-year senior unsecured bonds in the Norwegian bond market. Net proceeds from the bonds are expected to be used to fund newbuilding installments, as well as to refinance NOK bonds maturing in May 2017 and general partnership purposes. "The net proceeds from the bonds are expected to be used for refinancing NOK bonds maturing in May 2017 and general partnership purposes, including funding of newbuilding installments.
NYK Establishes Logistics Company for Finished Cars in Kenya
NYK has signed a joint-venture agreement with Bolloré Transport & Logistics Kenya Limited (Bolloré) and Toyota Tsusho Corporation to establish Bolloré NYK Auto Logistics Limited, a logistics company for finished cars. In late August, a signing ceremony was held in Kenya, and attended by Eric Melet, Managing Director of Bolloré, Takashi Hattori, Senior Managing Director of Toyota Tsusho Corp., Koichi Chikaraishi…
India Inducts First Armed Nuclear Submarine INS Arihant
India’s first indigenously-made nuclear submarine, the INS Arihant has been commissioned into service. The 6,000-ton, 110-metre-long INS Arihant (the Sanskrit name meaning ‘Slayer of Enemies’) is powered by a 83 MW pressurised light water nuclear reactor. INS Arihant can deliver atomic weapons from land, sea and air. The vessel was formally commissioned by Navy Chief Admiral Sunil Lanba in August. To maintain secrecy, it is not being referred to as INS Arihant, sources added.
UK Chamber of Shipping, MNTB Apprenticeship Seminar
The UK Chamber of Shipping and the Merchant Navy Training Board (MNTB) jointly hosted an Apprenticeship Seminar on the 11th October. The purpose of the event was to brief attendees from the industry about the Apprenticeship Levy and how apprenticeships can play a role in the shipping industry. The Levy which will come into effect in April 2016, has caused a great deal of concern across industry due to lack of clarity around how the levy may be implemented…
Hyundai Mulls Bid for Hanjin Assets, Routes
Hyundai Merchant Marine is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-U.S. route, reports Yonhap. Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route, seen as the most lucrative, and ships that are up for sale. Hanjin, the first major shipping line to be dragged down by global industry overcapacity and low freight rates…
Richmond Marine Terminal Volume Up 55%
The Port of Virginia handled 220,000 TEUs in September and that volume helped to push solid growth in rail cargo and in containers moved to Richmond Marine Terminal by barge. In comparison with last September, TEU volumes are up 2 percent; rail units up 16 percent and volume at Richmond Marine Terminal (RMT) is up 55 percent. Moreover, September marks the eighth consecutive month of TEU volumes exceeding 210,000 units.
ABB Turbocharger PM Model Demonstrates RoI
ABB announced study results which show a 202% return on investment (ROI) from using ABB Preventive Maintenance. The new study indicates that the payback of preventive maintenance is immediate, while the Net Present Value - a measure of profitability of a projected investment – can be around US$1.3 million over three years for a typical organization. Preventive maintenance involves maintaining and servicing equipment at regular intervals in line with manufacturer recommendations…
Jensen Evolves With Crowley's Support
As the City of San Francisco commissions its latest fireboat today, the vessel, designed by Seattle-based Jensen Maritime Consultants, exemplifies the evolution and growth of the naval architecture and marine engineering firm since it was acquired by Crowley Maritime Corp. in 2008. “Eight years ago I’m not sure this project would have been in our sweet spot,” said Johan Sperling, vice president of Crowley’s marine solutions group, which includes Jensen.
Intellian Announces IPO
Intellian Technologies announced an initial public offering of 1,450,000 common shares via the KOSDAQ, at an initial price of $17.27 per share. The initial public offering will result in roughly $26m in raised capital and a total market capitalization for the company of just below $124m. Shares will start trading on the KOSDAQ Market on October 18, 2016 under the ticker symbol “189300 KS Equity.” Founded in 2004…
European Shipping Week Receives EU Patronage
European Shipping Week has been granted the European Parliament’s official patronage by its President, Mr Martin Schultz. Commenting on European Shipping Week, Mr Schultz said his institution appreciated the opportunity for open dialogue between policy makers and representatives of the shipping industry to debate the future of European shipping policy. In a letter to Niels Smedegaard, President of the European Community Shipowners’ Associations (ECSA)…
LNG Sector Ready to meet Industry Demand
Ahead of the 70th Session of the IMO’s Marine Environment Protection Committee (MEPC), the cross-industry coalition 'SEA\LNG' has highlighted the ability of the liquefied natural gas (LNG) sector to meet the future emissions requirements of the global shipping industry. The recently formed coalition has issued a position statement which outlines the benefits of LNG as a marine fuel and offers its support for the implementation of MARPOL Annex VI for the prevention of air pollution by ships.
New Port in Stockholm Inaugurated
Ports of Stockholm has expanded Stockholm by 85000 square metres, and built a new pier and passenger terminal. Värtahamnen has been under reconstruction since 2013. The rebuilding is part of the development of a completely new city district in Stockholm, the Stockholm Royal Seaport. Ports of Stockholm has built a new pier and passenger terminal, which the ferry operations at Värtahamnen have now moved to.
Rolls-Royce Inks Landmark Automatic Ferry Crossing System Deal
Rolls-Royce has signed a deal to supply its first automatic crossing system to Norwegian ferry company Fjord1. The system, the first of its kind, will control two new double-ended battery ferries as they cross between Anda and Lote on the 1330 km long E39 which connects communities along the west coast of Norway. Battery powered ferries have strict yearly limits on energy consumption as part of the commercial agreement between the ferry operator and the government.
Damen Partners with TeamTec for BWTS
Damen Green Solutions has signed a letter of intent with Norwegian company TeamTec to supply and service the AVITALISTM ballast water treatment system. The system combines filtration and a proven, eco-friendly chemical treatment solution optimized for medium-sized to large vessels. The system is highly effective in water of any salinity, turbidity or temperature. The intention is to advance to a full partnership by the end of 2016.
Safety Alert: Samsung Galaxy Note 7 Smartphone
This safety alert reminds vessel owners, operators, charterers, merchant mariners, passengers, and all others throughout the maritime domain of safety concerns associated…
CLIA to Outline Cruise Ship Safety at SMC 2016
The global cruise industry has committed to spending more than $30 billion in designing the most creative and exceptional passenger ships ever envisioned, featuring the most advanced and comprehensive safety systems ever deployed in cruising history. CLIA’s Robert Griffiths, director of technical and regulatory affairs, design and engineering, will discuss the process of weaving safety into every aspect of the cruising experience…
ICS Letter to Canadian Transport Minister
ICS Secretary General Peter Hinchliffe reaches out to the Canadian Transport Minister in a letter this week. I am writing on behalf of the International Chamber of Shipping (ICS) which is the principal global trade association for shipowners representing over 80% of the world merchant fleet. ICS membership comprises national shipowners’ associations from 37 nations, and includes the Canadian Shipowners’ Association and the Chamber of Shipping of British Columbia.
LR, SCC Release Low Carbon Pathways 2050 Study
Lloyd’s Register (LR) and Shipping in Changing Climates, a $4m multi-university and cross industry research project funded by EPRSC, have today released Low Carbon Pathways 2050 – a new study that details a number of potential pathways for the shipping industry’s transition to a low carbon future. The report underlines the need for shipping to start its decarbonization imminently – as stringency increases over time, increasingly high-cost mitigation steps are required.
Navis Boosts LATAM Market Share with N4
Navis, a part of Cargotec Corporation, has announced that Colombia-based Sociedad Portuaria Regional de Cartagena (SPRC) and Terminal de Contenedores de Cartagena (CONTECAR) will both migrate to the N4 terminal operating system (TOS) following a combined twenty-year run on SPARCS. Located in Colombia’s Cartagena Bay, SPRC and CONTECAR have been recognized by shipping lines and industry associations alike as some of the most efficient ports in the Caribbean.