US Drillers Continue to Add Oil Rigs -Baker Hughes
U.S. oil drillers increased rigs this week for a 21th week in the last 24, as energy firms follow through on plans to add rigs made months ago when crude was still…
Aframax Rates in Mediterranean Jump on Shortage of Ships
Freight rates for Aframax tankers on Black Sea-Mediterranean and cross Mediterranean routes almost doubled on Friday to their highest since July, driven by demand for loadings at the end of November at a time when many Aframaxes are storing oil at sea. Rates for these routes jumped to 120-140 Worldscale points (WS) from WS70-80 on Thursday, shipping reports showed. Rates for northwest European freight also rose to WS100, their highest since September, from WS60-70 on Thursday.
US Warship John Finn Passes Acceptance Trials
The U.S. Navy’s new guided missile destroyer John Finn (DDG 113) has completed its third and final round of sea trials following two days testing various systems in the Gulf of Mexico. “The success of DDG 113 acceptance trials moves us one step closer to delivering a quality, state-of-the-art surface combatant to the U.S. Navy,” said Brian Cuccias, president of Ingalls Shipbuilding, a division of Huntington Ingalls Industries and builder of the new Arleigh Burke-class (DDG 51) destroyer.
Anchor Handling Tug Supply Vessel Market Poised for Growth
The global market for anchor handling tug supply vessels is poised for growth from 2016-2020, according to a report by Research and Markets. In the report, which covers the present scenario and the growth prospects market based on total revenue generated from the different geographical regions, analysts forecast the global market for anchor handling tug supply (AHTS) vessels will grow at a compound annual growth rate (CAGR) of 13.88 percent during the period 2016-2020.
Tuco to Deliver Net Cleaning Boats for Fish Farming
Following vessel deliveries to the offshore business and governmental organizations in Norway, Tuco Marine will now also deliver to the Norwegian Aquaculture industry. Two ProZero 15m boats have been sold as high pressure cleaning boats to Norwegian AKVA Group. Designed by a team of skilled engineers, through collaboration with multiple world leading aqua cultural experts, the 15 meter boats are developed…
Four Passenger Cargo Vessels Ordered in India
KNUD E. HANSEN (KEH) and Smart Engineering & Design Solutions (India) (SEDS) have recently teamed up to deliver two new vessel designs, each with two vessels to be built, for the Andaman & Nicobar Administration of India. The larger of the two designs will provide a link between the Indian mainland and the Andaman & Nicobar Island Group to the east of the subcontinent with a passenger capacity of 1,200 and carrying up to 1,000t of mixed cargo.
US, Danish Maritime Academies Partner
Student exchanges, faculty collaborations and programmatic partnerships are now possible between the United States’ SUNY Maritime College and Svendborg International Maritime Academy in Denmark. The two institutions earlier this month signed a memorandum of agreement that will pave the way for academic cooperation and knowledge sharing. “The shipping industry is international by nature,” said Joseph Hoffman, interim provost and vice president for academic affairs at SUNY Maritime.
Hanjin Commences Layoffs
Hanjin Shipping Co. has notified 560 shipping crew that their service with the company ends on Dec. 10, reports the Pulse. The rest of 2,000 on the company payroll are expected to get dismissal notice within next month. The troubled shipping giant has started laying off its employees as part of and ahead of measures to find a buyer for its Asia-US assets. Korea Ship Owners’ Association and Korea Maritime Institute estimate as many as 10…
Low Oil Price to Stimulate Tanker Market: NAT
The development of the world economy affects the tanker industry. A low oil price is stimulating the world economy which is positive for the tanker market, says a report by Nordic American Tankers. The drybulk and container sectors are weak. Therefore, some owners are unable to expand into the crude tanker sector, which is currently strong. The yard industry is struggling with low orders over the last years. For NAT, a strong balance sheet and access to financing are competitive advantages.
Nordic American Tankers Expands Fleet to 33 Vessels
Armed with $120m from the placement, Nordic American Tankers (NAT) has contracted to increase its fleet from 30 to 33 vessels, enhancing its potential for both higher earnings and dividends. The Company will have a fleet of 30 trading vessels in early 2017. By way of comparison, in the autumn of 2004, the Company had three vessels. NAT is focused on maintaining top technical quality of the fleet. Our operational performance remains at the forefront of the industry.
Indian Transportation Sector Surges Ahead
The Shipping and Road Transport sectors in India have together spent a total of about Rs 4 lakh crores ($60billion) in the past two and a half years as they work towards building world class highways and shipping infrastructure in the country, says the Cabinet Minister Nitin Gadkari. While the Road Transport & Highways Ministry has spent about Rs 3 lakh 17 thousand crores to build a total of 14,594 Km and award 21…
Strengthening Oil Spill Response in Southeast Asia
Training for oil pollution preparedness, response and cooperation (OPRC) is underway in Jeju Island, Republic of Korea (7-11 November). On completion of the course, Government officials from seven Southeast Asian countries (Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Thailand and Timor‑Leste) will play a significant role in advancing their respective countries’ OPRC capability, as well as regional and international cooperation in the case of major oil spills.
IMO Leads Table Top Security Exercise in Tanzania
International Maritime Organization (IMO)’s whole of government approach to maritime security, as an enabler for sustainable development of the blue economy, is being played out in the latest maritime security table-top exercise. The exercise in Tanga, United Republic of Tanzania (9-10 November) is highlighting the need for a unified approach to implementation of maritime security measures, with particular reference to IMO’s SOLAS chapter XI-2 and ISPS Code.
BIMCO Awards Leadership, Innovation, Pioneering Business Strategy
BIMCO today presented three awards to recognise and celebrate excellence in the global shipping industry among both companies and individuals in the industry – following BIMCO’s conference in Shanghai. This year the importance of leadership, innovation and pioneering business strategy in shipping were clearly recognised by the judges in the choice of winners. BIMCO President Philippe Louis-Dreyfus chose to give the BIMCO President’s Award to the Tung family from Hong Kong…
Rickmers 9M Revenue Slips
Hamburg, 11 November 2016 In the first nine months of 2016, the Rickmers Group generated consolidated revenues of € 373.6 million. This represents a decline of 15 percent versus the previous years period (€ 439.7 million). This fall is due mainly to the persistently strained market situation through the expiry of further high-margin charter contracts, temporary fleet idleness and follow-on charters at current low market rates.
Port State Control across Continents Target Sulphur Compliance
The two major port State control regimes - Paris MoU and Tokyo MoU - will increase focus on the sulphur limit regulations. The decision has been made on the basis of a Danish/Dutch proposal. Port State control authorities across 45 countries and 5 continents – South America, North America, Europe, Asia and Australia – have agreed to carry out a so-called Concentrated Inspection Campaign (CIC) in 2018 focusing on air pollution from ships.
Container Volume Up 2% at SC Ports
Today South Carolina Ports Authority reported nearly two percent growth of twenty-foot equivalent unit (TEU) volume since its fiscal year began in July. SCPA handled 169,477 TEUs in October, an increase from 164,734 TEUs moved during the same month last year. Fiscal year to date, SCPA's container volume reached 689,753 TEUs, a year-over-year increase of 1.73 percent. As measured in pier containers, or total boxes moved across SCPA's docks, fiscal year-to-date volume is up by 6,227 containers.
DEME, Royal IHC win DPC Innovation Award
On November 10, DEME and Royal IHC have been awarded a DPC Innovation Award for the world’s first liquefied natural gas (LNG)-powered Trailing Suction Hopper Dredgers (TSHD). The DPC Innovation Awards consisted of 13 categories looking at the most innovative and forward-thinking projects that the dredging and port construction industry has to offer. DEME and Royal IHC won the award in the “Innovation in Dredger Design” category.