COSCO Shipping, DEME Signs Umbrella Agreement
The Belgian dredging, environmental and marine engineering group DEME and COSCO Shipping - the largest shipping company in the world - will work closely on the development of offshore wind energy in China. The umbrella agreement was signed today in the presence of Belgian Prime Minister Charles Michel and the Chinese Premier Li Keqiang. The attendance of both Heads of Government signifies the importance…
Korea Line to Take Over Hanjin's Asia-US Route
South Korea’s Korea Line has been picked as the preferred bidder to buy the troubled shipper Hanjin Shipping’s Asia-US operations, beating Hyundai Merchant Marine, reports Reuters. The judge at the Seoul Central District Court, which is handling Hanjin’s insolvency proceedings, awarded Korea Line the first right to purchase the assets of Hanjin’s Asia-U.S. route, as well as its stake in a California terminal.
Dynagas, Gazprom in New Long-term Time Charter Contract
Dynagas LNG Partners signed a new long-term time charter contract for the Clean Energy. The Partnership, through one of its wholly owned subsidiaries, entered into a new long-term charter agreement with an affiliate of the Gazprom Group for the employment of its 2007 built 150,000 cbm steam turbine LNG carrier Clean Energy. The charter is expected to commence in July 2018 and will have a firm term of seven years and nine months.
Dynagas LNG Q3 Results
Dynagas LNG Partners LP (DLNG) has reported third-quarter profit of $17.3 million. On a per-share basis, the company said it had net income of 44 cents. Earnings, adjusted for non-recurring costs, came to 49 cents per share. Dynagas said voyage revenues increased to $43.1 million for three-month period ended sept 30, from $37.0 million last year. Tony Lauritzen, Chief Executive Officer of the Partnership…
MSC Enhances Transpacific Service
Mediterranean Shipping Company (MSC) has announced the launch of its sixth service, named SEQUOIA, from Asia to the U.S. West Coast. The new trade provides a direct connections from South China to Long Beach, as well as a shuttle service from South China and transit time of 12 days from Ningbo to Long Beach. The service will start operating from Chiwan on Friday, December 9, SAFMARINE MULANJE 649N. The rotation will be: Chiwan, Yantian, Ningbo, Long Beach.
More EU Transport Budget for the Benefit of Europe
30 European transport associations, representing infrastructure managers, operators, local authorities, users and equipment suppliers in the maritime, inland waterways, railways, road, cycling, aviation and intermodal sectors, call on the European Parliament and the Council to approve the initial Commission proposal for the review of the Multi-Annual Financial Framework. The proposal foresees an increase of EUR 1.4 billion for the Connecting Europe Facility (CEF) budget.
Master Marine Begins Building Its Next Towboat Series
Master Marine said it has laid the first keel with a contract signed in September for four 67’ x 28’ fleet boats. Each boat will be powered by a pair of S6R2-Y3MPTAW…
Dry Bulk’s Biggest Spenders
In the last month, we have seen the Baltic Dry Index (BDI) recover to the same level it was 12 months ago (see circles in fig.1). Vessel values have started to firm, but not at the same rate and are still at historically low levels. In the last 12 months, contrarian owners have taken advantage of the low values and have been buying cheap tonnage. With hindsight, this looks to have paid off with many values having increased above the purchase price.
Bruntons to Debut CPP System at METS
A new controllable pitch propeller (CPP) system from Bruntons Propellers Ltd. will make its public debut at this year’s METS exhibition in Amsterdam, November 15-17. Bruntons said it has spent several years developing a CPP propeller and its associated equipment which will solve several issues that have affected CPPs since they were first introduced. In addition to manual control, the Bruntons CPP…
A Definitive Guide to AIS
The world of AIS can be confusing to newcomers and experienced professionals alike. What is AIS? What data does it gather? How can it help my business? Do I need AIS if I don’t have a business? Class A or Class B transponders? Do I actually need it? There’s a plethora of questions from those looking to get the most out of their tracking tools, or from those looking into entering the maritime industry.
Genting Confirms Five-year Shipbuilding Plans
Genting Cruises has confirmed its build program for the MV WERFTEN shipyard group following the launch of the first Asian luxury cruise ship, Genting Dream, in Singapore, Hong Kong and Guangzhou, China. Executive Chairman, Tan Sri Lim Kok Thay, stated during the three events that Genting is committed to the long-term development of the cruise industry in Asia. With the rapid growth of the cruise industry in Asia but only a limited number of yards capable of building large cruise ships…
Damen Dredging Equipment Officially Reopened
Kommer Damen, Chairman of the Damen Shipyards Group, officially reopened the offices of Damen Dredging Equipment (DDE) in Nijkerk on November 9 following an extensive refit and extension. Among the facility’s improvements, the building now provides visitors with a complete ‘dredging experience’, the company said, starting with displays in the hallways illustrating the challenges of living in the Low Countries and explaining why dredging has been an integral part of its history.
EnScrub’s Sea Trials Completed
EnSolve Biosystems said it has completed sea trials of its EnScrub SOx Scrubber Water Treatment System onboard a vessel operating in the Baltic Region. The EnScrub system was installed in April 2016 and the DNV certification testing that was conducted in August 2016 revealed that during closed-loop operation, the EnScrub system was successful in legally discharging 97 percent of the SOx scrubber water entering the system.
Five Large Cranes Delivered to Bulgaria and Egypt
HANSA HEAVY LIFT has transported five Gottwald mobile harbor cranes, weighing a total of 1,400 metric tonnes, loading them in Denmark and Belgium and delivering them to Bulgaria and Egypt. All five cranes were lifted and stowed fully-erected on deck, which limited the line of sight for the crew aboard HHL Rio de Janeiro, requiring an extra radar scanner to be installed on the foremast. Extra risk assessments were also carried out prior to commencing the voyage…
Grain and Project Cargo Dominate St. Lawrence Seaway Traffic in October
“The Great Lakes St. Lawrence Seaway System saw a steady flow of traditional cargoes during the month of October,” said Betty Sutton, Administrator of the Saint Lawrence Seaway Development Corporation. “Last month, shipments of aluminum, steel, generators, crane components, iron ore and containerized goods moved in the system. Thanks to a robust U.S and Canadian grain crop, agricultural products including corn…
Large Earthquake Damages New Zealand Ports and Infrastructure
New Zealand’s largest earthquake in 150 years has led to a number of port and infrastructure issues, advises Inchcape Shipping Services (ISS). The ports of Wellington…
Newly Pumped Crude Leaves Reopened Libyan Port of Ras Lanuf
A tanker left the Libyan port of Ras Lanuf on Monday carrying the first freshly produced crude oil to be exported since the terminal reopened in September, a port official said.
Kongsberg Technology Chosen for New Ice Class Cruise Ship
Kongsberg Maritime technology has been chosen for installation aboard Australian cruise line Scenic Cruises’ new ice class cruise ship. The 228-passenger, 168 meter long Scenic Eclipse features an ice strengthened hull, but with sleek lines, state-of-the art technology and luxury fittings, it takes its design cues from the exclusive world of billionaire’s megayachts. Scenic Eclipse is currently under construction at Uljanik Shipyard in Croatia, with delivery expected during 2018.
Hapag-Lloyd's Quarterly Profit Up, Sees More Cost Cuts
German container shipping group Hapag-Lloyd reported a rise in third-quarter net profit and said it would press ahead with cut costs and seek economies of scale to cope with the worst downturn the industry has ever seen. Net profit at the Hamburg-based firm came to 8.2 million euros ($8.83 million) in the three months ending Sept. 30, up from 3.2 million a year earlier, while profit before interest and tax (EBIT) came to 65.6 million euros, down from 80.9 million euros previously.
Seacat Services Launches High Speed Utility Vessel
Offshore energy support vessel operator, Seacat Services, is preparing to launch its first High Speed Utility Vessel (HSUV), Seacat Enterprise. The 27m South Boats IoW catamaran is a new category of vessel for the offshore wind market, designed to provide both rapid crew transfer and wide-ranging logistical support for extended periods at sea. In the maturing European offshore wind sector, the expectations of developers…