MMO Market Falls 22% in 2015
The Offshore Maintenance, Modifications & Operations (MMO) market experienced a substantial fall of 22% in total expenditure between 2014 and 2015, and an additional 5% decline is projected by the end of 2016, says a Douglas-Westwood report. This is a result of the postponement of non-critical work which otherwise would have been sanctioned in a $100 oil period. However, whilst efforts to reduce bottom line figures have paid off and continue to be in play…
Seanergy Maritime Takes Delivery of MV Knightship
Seanergy Maritime Holdings Corp. has taken delivery of a 178,978 dwt Capesize dry bulk vessel, renamed to M/V Knightship and built in 2010 by Hyundai Heavy Industries in South Korea.
CMA CGM Adds New MARMARA EXPRESS Line
CMA CGM upgrades its offer between the Eastern and Western Mediterranean Sea with the new MARMARA EXPRESS line. "We are pleased to announce the new service offer MARMARA EXPRESS which directly links Turkey, Spain, France, Greece and Italy," says a company statement. This fast and reliable service will answer the recent growth of trade between Turkey and the Western Mediterranean countries. The ports of the Sea of Marmara…
Moody's: Global Shipping Challenged by Oversupply
Moody's outlook for the global shipping industry in 2017 is negative, reflecting continued oversupply and a 7%-10% decline in EBITDA. Dry bulk freight rates will remain low due to subdued demand, though deferred vessel deliveries, cancellations and scrapping will help curb net capacity growth. Airline profitability will weaken slightly in the year ahead, Moody's Investors Service says in its 2017 outlook for the global transportation industry.
Ship Breaking Worker Killed in the Yard
Only in 2016, at least 19 shipbreaking workers were killed and another 11 severely injured in the Bangladesh shipbreaking yard. More than 600 German-owned ships…
Maersk: Hamburg Süd Deal Will Compensate Energy Spin-Off Effects
Denmark’s A.P. Moller-Maersk expects the revenue generated through the recently acquired container carrier Hamburg Süd to compensate for around 60% of revenue loss after the spin-off of the company’s Energy division is completed, Sorens Skou, CEO of Maersk, was quoted by Reuters as saying. Maersk announced a major restructuring in September in which the family-owned group plans to focus on transport and logistics and separate its energy operations.
El Faro's Master: 'We're gettin' conflicting reports'
The captain of a U.S.-flagged cargo ship that sank near the Bahamas last year, killing all 33 onboard, told a crew member that there was confusion about the location of the storm that doomed the vessel, a transcript released on Tuesday shows. The 790-foot (240-meter) El Faro sank on the morning of Oct. 1, 2015 in the worst cargo shipping disaster involving a U.S.-flagged vessel in more than three decades.
Vancouver Shipyards Appoints Tinto as VP
Seaspan’s Vancouver Shipyards has announced the appointment of Tony Tinto to Vice President, Planning & Estimating. Tinto joined Vancouver Shipyards (VSY) in 2006 as a Project Manager, before moving over to affiliate company Vancouver Drydock in 2007 in a similar capacity. In 2012, Tinto returned to VSY as Director, Planning & Production Control, and was appointed to the role of interim Vice President, Planning & Estimating in November 2016.
Maersk to Lower CapEx, Consider Dividend Cuts to Retain Credit Rating
The world's biggest container shipper A.P. Moller-Maersk may consider selling assets or cutting dividends as it seeks to retain its credit rating, the company said on Tuesday. Maersk's Baa1 credit rating was put under review for a downgrade by Moody's in September, after it announced it would split up the company to focus on the shipping business and spin off its energy assets. Last month, Standard & Poor's lowered the company's credit rating to BBB from BBB+ with a negative outlook.
MAO to Support ACO Marine's Projects in Canada
ACO Marine has appointed a new distributor in Canada to help meet increasing demand in the region for wastewater treatment solutions capable of exceeding stringent environmental protection requirements. Ontario-based Marine and Offshore (MAO) Canada will provide sales and technical support across ACO Marine’s range of products, including the MEPC227(64) compliant Clarimar MF and Maripur NF biological sewage treatment plants.
Bollinger Delivers 21st USCG FRC
Bollinger Shipyards has delivered the USCGC JOHN MCCORMICK, the 21st Fast Response Cutter (FRC) to the U.S. Coast Guard. The 154 foot patrol craft USCGC JOHN MCCORMICK is the 21st vessel in the Coast Guard's Sentinel-class FRC program, and the first FRC to be stationed at Ketchikan, Alaska. The FRC has been described as an operational “game changer,” by senior Coast Guard officials. Previous cutters have been stationed in the 7th Coast Guard District in Florida or San Juan…
RoPax Ferry Takes Shape at Niron Staal
Niron Staal, part of Damen Shipyards Group, has performed a keel-laying ceremony of the hull of a passenger ferry. On completion, Damen Shipyards Hardinxveld will carry out the final outfitting work of the 5212 RoPax for an African client. “We are very proud to be working on this hull fabrication – this project really displays the added value of the years’ of experience that we have here,” comments Niron Staal Director Roland Berends.
Royal Arctic Line Integrates Navis N4 to Modernize Operations
Navis and Royal Arctic Line Denmark (RAL) announced that the terminal has gone live with the Navis N4 terminal system. Lacking key features in its legacy system…
Synectics Shows Offshore Success with Multiple Vessel Contracts
Global surveillance business Synectics has been awarded contracts for ten marine and offshore vessels including LNG Carriers, LPG Carriers and Floating Storage Regasification Units (FSRUs).
Flag States must be Proactive in Difficult Times - Liberia
Flag states must be proactive in the best interests of shipowners, operators and managers, rather than simply fulfilling their traditional role as certification bodies. Alfonso Castillero, Vice-President of the Liberian Registry, told a recent Liberian Port State Control seminar in Tokyo, "In the current difficult market conditions, flag states can no longer afford to regard themselves as mere factories for issuing registration certificates.
Eneco Consortium Wins Borssele III&IV Tender
The consortium of Eneco, Diamond Generating Europe, Shell and Van Oord has won the tender for the construction and operation of Dutch offshore windfarms Borssele III & IV. The preferred supplier for the wind turbines is MHI Vestas Offshore Wind. Winning the tender is a confirmation that the primarily Dutch based members of the consortium are committed and determined to push the energy transition forward in the Netherlands and the important role that offshore wind needs to play in it.
Mainstay Lands New Vessel Contract
A designer, builder and maintainer of workboats and renewable marine energy devices has won a significant contract to construct a crew transfer vessel. Mainstay Marine Solutions, which won against international competition, will build the boat at its deep-water facility in Pembroke Dock for client Targe Towing, a Scottish-based tug owner and operator. The 15m vessel, designed by Carmarc Design, will have a maximum speed of 15 knots and capacity for two crew and 12 passengers.
U.S.-Flag Lakes Cargos Up Nearly 7%
U.S.-flag Great Lakes freighters (lakers) moved 8.4 million tons of cargo in November, an increase of 6.7 percent compared to a year ago. However, the November float…
Hull Vane on New Patrol Vessel for Port of Rotterdam
Hull Vane on New Patrol Vessel for Port of Rotterdam Shipyard Kooiman recently started building a new 25-meter patrol vessel for the Rotterdam Port Authority. The vessel will be delivered in the summer of 2017. The order followed a public tender process in which several shipbuilders competed with their designs. The design incorporates several innovations to improve the efficiency. Public tender The principal focal points in the tender were the vessel’s complete life-cycle costs…
Corvus Energy Powers North America's First LNG-Battery Hybrid Ferry
The 'Seaspan Swift' is the first LNG-battery hybrid cargo ferry in North America. The vessel features two dual-fuel engines and a Corvus lithium ion energy storage system (ESS), which operates as spinning reserve and provides propulsion power for low-speed maneuvers. The cargo ferry will be joined by a sister ship, Seaspan Reliant, in early 2017, after which the operator will order a further three ferries, according to Seaspan CEO Jonathan Whitworth.