India Strives to Improve Efficiency of Ports
While increasing the capacity of major ports, Ministry of Shipping has been striving to improve the operational efficiencies through mechanization and other measures. As a result key efficiency parameters have improved considerably. The Average Turnaround Time has registered a significant improvement in 2015-16 and was 3.63 days as against 4.00 days in the corresponding preceding year. This has further improved to 3.49 days in the current year (up to October, 2016).
Iranian Fleet Regains P&I Insurance
A large portion of Iran’s shipping fleet has regained Protection & Indemnity (P&I) insurance from Steamship Mutual, reports Mehr News Agency. Steamship Mutual, said in a statement that a considerable number of Iranian vessels have taken out insurance form the company. "We are pleased to observe return of Iranian directors to the board of one of the largest and most diverse P&I Clubs in the world,” Jonathan Andrews, Director & Head of Eastern Underwriting in Steamship Mutual, said.
Russian Navy to Get Two Subs
In recent years, Russia has been putting many efforts in building a modern-day nuclear submarine fleet. The Russian Navy expects to receive the Project 955A nuclear submarine Prince Vladimir and the Project 885M Yasen-M nuclear-powered underwater cruiser Kazan in 2017, said Russian Navy Deputy Commander-in-Chief Vice-Admiral Viktor Bursuk in a statement. "The first improved Project 955-A submarine and the Yasen-M will be floated out within the time limits stipulated by the contract…
Qatargas starts operations at Laffan Refinery 2
Qatargas, the world's largest LNG producer, announced the commercial start-up of Laffan Refinery 2, marking a major milestone in the expansion of refining capacity in the State of Qatar. The project will refine 146,000 barrels per day of condensate from the North Field, the largest non-associated natural gas reserve in the world. Laffan Refinery 2 produces low Sulfur Euro-V specifications products such as Naphtha…
Arctic Discovery Shocks Scientists
A report from the Washington Post described how high Arctic temperatures had risen by about 36 degrees Fahrenheit last month, coinciding with record-low sea ice levels. Scientists have just discovered something int he Arctic that could totally change how they see the drastically changing temperatures in the region. This was a disturbing trend, as sea ice normally expands at this time of the year. But…
Debt Looms for South Korean Shipyards
The top four Korean shipbuilders have 2.3 trillion won ($1.9 billion) in notes maturing next year, the most in Bloomberg-compiled data going back to 1997. Bloomberg…
India to Push Coastal Shipping
Coastal shipping provides benefit in the form of less environmental pollution due to lower per km consumption of fuel. However, unavailability of consolidated cargo, return cargo and general lack of awareness among shipper community make coastal shipping unviable. On the contrary, the high penetration level of road followed by rail coupled with the ability to effect door-to-door movement of cargo makes the field tougher for coastal shipping.
Schlumberger, Transocean Ink Service Agreements
Cameron, a Schlumberger company, today announced the signing of two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million. The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico. This comprehensive agreement includes storage, maintenance, inspection, repair, recertification and data-driven riser management on the rigs.
Sandahlsbolagen to operate terminal at Gothenburg Port
The family-owned company Sandahlsbolagen Sweden AB has signed a five-year agreement with Gothenburg Port Authority to operate the new intermodal terminal at the port. Operations will commence by end of this month. "Sandahlsbolagen has for long time shown an interest in running a intermodal terminal at the Port of Gothenburg. We are extremely pleased that one of the most experienced companies in this sector in Sweden has opted to establish operations at the port…
Austal delivers Gabrielle Giffords (LCS 10)
Austal delivered the fifth Independence-variant littoral combat ship (LCS), the future USS Gabrielle Giffords (LCS 10), to the U.S. Navy on December 23, exactly six months from the date LCS 8 was handed over, at an official document signing ceremony held aboard the ship. This milestone marks the third LCS built by Austal as the prime contractor. “It’s exciting to be handing over another littoral combat ship to the Navy,” said Austal USA President Craig Perciavalle.