DP World increases Stake in Pusan Newport
DP World has acquired an additional 23.94% stake in Pusan Newport Company Limited (PNC) in South Korea from Samsung Corporation & Subsidiaries. This increases DP World’s holding in PNC to 66.03%…
Eastern Launches Towboat for IWL River
Eastern Shipbuilding Group, Inc. has launched Impala Cantagallo, the final vessel in a series of four triple screw inland river towboats for IWL River, Inc. Launched on December 14, 2016 Impala Cantagallo is part of a series of 134-foot inland river service towboats designed by CT Marine and currently under construction at Eastern’s Allanton facility, with deliveries starting in late 2016 and going through 2017.
US Crude Stocks up, Product Inventories Fall -EIA
U.S. crude oil stocks unexpectedly rose last week, while gasoline and distillate product inventories dropped, the U.S. Energy Information Administration said on Thursday.
FMC Green Lights Miami Terminal Partnership
An agreement between two marine terminal companies located at the Port of Miami will go into force on December 31, 2016, permitting those parties to seek cooperation and commonality in both business and operating matters. The U.S. Federal Maritime Commission (FMC) voted Thursday not to prevent the Miami Marine Terminal Conference Agreement from taking effect. The South Florida Container Terminal and the Port of Miami Terminal Operating Company filed the agreement on November 16, 2016.
Great Ships of 2016: Texas
Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. Crowley Maritime Corp. took delivery of Texas, the second of four new Jones Act product tankers from Philly Shipyard, Inc. (PSINC). The 50,000 dwt, 330,000-barrel Texas joins sister ship Ohio, which was received by Crowley in October, as the first ever tankers to receive the ABS LNG-Ready Level 1 approval…
Energy, Finance & the GoM
Some positive market indicators could presage an investment revival in the U.S. Gulf of Mexico – and beyond. The good news, reported by Bloomberg, is that in the third quarter of 2016, the largest oil companies increased cash from operations by nearly $26 billion. This reflects a 67 percent increase from the previous quarter and more than twice the amount of the first quarter of 2016. Exxon Mobil, Royal Dutch Shell…
Op/Ed: Shipping's Energy Challenge
There is no more economically and environmentally efficient way of transporting the world’s goods than by sea. Compared to air or road freight, based on per ton of cargo shipped, shipping’s carbon footprint is small. Yet with the 60,000 or so ships that transport 80 percent of the world’s goods emitting about 1.12bn tons of CO2 each year, almost 4.5 percent of all global greenhouse gas emissions, it is unequivocal that we need a viable way of reducing our environment impact.
The Top 10 Ships of 2016
Maritime Reporter & Engineering News (www.marinelink.com), published since 1939, annually publishes details on the world’s “Great Ships of the Year.” Of the 18 selected as “Great Ships of 2016,” here we rank the Top 10 Ships of 2016, according to the editors of Maritime Reporter & Engineering News. Why: Second in series of the world’s first LNG powered containerships. Shipyard: Philly Shipyard Inc. Owner Reliance Industries Ltd. Owner: Arctia Icebreaking Ltd.
Marine Exhaust Systems of Alabama Names Simmons CFO
Marine Exhaust Systems of Alabama has appointed Karen C. Simmons, CPA, PFS as Chief Financial Officer effective January 1, 2017.
Final Marquette Z-drive Towboat from Master Marine
In December, Marquette Transportation Co. took delivery of a new 2,000-hp Z-drive towboat from Master Marine, Inc., Bayou La Batre, Ala. The 78'x 34’x11' St. Matthias was designed by Entech Designs, La. for Marquette’s river division, based in Paducah, Ky. The vessel features increased crew capacity of nine personnel in five staterooms with 3.5 bathrooms. The steel-hulled St. Matthias is powered by a pair of Thompson Power Systems Caterpillar C32 Tier 3 1…
Petrobangla Signs $950mln Deal with Petronet for LNG Terminal
Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) signed an initial agreement with India's energy company Petronet LNG Limited to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950 million. Prabhat Singh, managing director and chief executive officer, Petonet and Syed Ashfaquzzaman, secretary, Petrobangla, sign an agreement at Petrobangla Bhaban in Dakka.
India, Indonesia Firm Up Maritime Co-operation
Asia’s most populous democracies and emerging powers, have firmed up a blueprint for enhancing maritime cooperation and resolved to jointly combat terror. India and Indonesia enjoy a good maritime partnership. India has backed Indonesia on the latter’s escalating dispute with China on territorial claims in South China Sea. This nexus is expected to irk China. “Indonesia is our most important partner as part of our ‘Act East’ policy…
Aramco Extends Seadrill Jack-up Deals
Seadrill, a London-headquartered offshore drilling contractor, said that Asia Offshore Drilling (AOD) has received three-year contract extensions for two jack-up rigs from Saudi Aramco. The jack-ups AOD I and AOD II received three year contract extensions from Saudi Aramco expiring in June 2019 and July 2019, respectively. AOD is an associate company of Mermaid Maritime and Mermaid has 3.76 percent equity stake in AOD while the other 66.24 percent equity is owned by Seadrill.
Hanjin Sells Operations at Port of Seattle
Bankrupt South Korean shipping company Hanjin will sell its operations of the Port of Seattle’s Terminal 46 to Switzerland-based Mediterranean Shipping COmpany (MSC) subsidiary Terminal Investment Limited (TIL), reports AP. The Seattle Times reports Hanjin will sell its majority stake in the terminal operating companies at the Seattle and Long Beach ports for $78 million. Hanjin Shipping filed for bankruptcy protection at the end of August, worrying local retailers about the fate of their cargo.
'City of Tokyo' Refused Access to Paris MoU Region
M/s City of Tokyo vessel was detained in Antwerp (Belgium) on 23rd October 2015 and left the port of Antwerp on 21st October 2016 but failed to call at the repair yard in Dubai as agreed, before 30th November 2016. The ship flies the flag of Panama, which is white on the current Paris MoU WGB list. Your attention is drawn to the provisions of Section 4.4 of the Paris MOU, Article 21.6 of EU Council Directive 2009/16/EC1…
Daewoo to Develop Iranian Shipyard
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing the shipbuilding Industry in Iran. Under the deal with the Industrial Development and Renovation Organisation of Iran, Daewoo Shipbuilding will work on constructing a shipyard and related facilities in Iran, according to Yonhap News Agency.
Russian Registery Releases Polar Code Requirements
Russian Maritime Register of Shipping (RS) has completed the research on the preparation of proposals as regards procedures for the development of the Polar Water Operational Manual (PWOM) for the RS-classed ships, the Contractor being Admiral Makarov State University of Maritime and Inland Shipping (SUMIS). Polar Water Operational Manual (PWOM) shall be available on board in compliance with the Polar Code coming into force on January, 1, 2017.
Incheon port Targets 3m teu Throughput
The Incheon Port Authority or IPA (www.icpa.or.kr, IPA) proclaimed a new voyage to make the top 30 ports in the world in a ceremony to celebrate the achievement of 2.5 million TEU annual container volumes at Incheon New Port located in Songdo-dong, Yeonsu-gu, Incheon, on December 16. Incheon Port's annual container volume surpassed 2.5 million TEUs as of December 16, the largest-ever volume in the history of Incheon Port…
Six Rescued Northeast of Sitka, Alaska
A Coast Guard Air Station Sitka MH-60 Jayhawk helicopter crew medevaced one injured person, and a Coast Guard Station Juneau response boat – medium crew transported…
France May Step in on Shipyard Sale
France may intervene in the sale of the Saint-Nazaire shipyard by bankrupt South Korean shipbuilder STX if the French government's conditions are not met, Industry Minister Christophe Sirugue said. "The government is fully mobilised and will not hesitate to use all of the levers at its disposal," Sirugue told French daily Les Echos in an interview published on Friday. The French state, which owns a third of STX France and its western Saint-Nazaire shipyard…