OOIL Sales Up 10% to $1.3 bln
Orient Overseas (International) Ltd (OOIL) whose principal holding is its container unit OOCL, posted a 10.3% fourth quarter year-on-year revenue increase in 2016 to US$1.3 billion. The total volumes were 20.2% up from the same period last year. Loadable capacity increased by 14.0%. The overall load factor was 4.4% higher than the same period in 2015. Overall average revenue per teu decreased by 8.2% compared to the fourth quarter of last year.
NextDecade Takes Aim at Texas City for LNG Export
NextDecade LLC has signed lease agreements with the State of Texas and City of Texas City for a close to 1,000-acre site at Shoal Point for the potential development of a multi-billion dollar liquefied natural gas (LNG) export facility. Texas City owns almost 376 acres at Shoal Point, while the Texas General Land Office manages the adjoining 618 acres of state land. The agreement comes as the State…
No Cash: PDVSA Tankers Stuck Off Venezuela
More than 4 million barrels of Venezuelan crude oil and fuels are stuck in tankers in the Caribbean because Venezuela’s state-run oil firm cannot afford to pay for…
Keppel Shuts Down Three Yards in Singapore
Keppel Corp, the world's biggest oil rig builder, is still hard hit by the downturn in the oil industry and will now shut down three yards in its homeland. Singapore-based offshore company Keppel reduced its direct work force by about one third. The workforce has been reduced by 2,620 employees in the fourth quarter a cut of 11.8%. For 2016 as a whole Keppel reduced its direct workforce by 10,600, some 3,800, and about 6,800 overseas, or 35% of its total direct workforce.
Eletson, Evergas Form Shipping Alliance
Eletson Gas and Evergas announced an alliance of the two companies that will trade the companies’ semi-ref/ethylene capable vessels. The new venture, to be called the E3 Pool, will commence trading on the 30th of January from the Eletson offices in Piraeus and London and the Evergas offices in Copenhagen and Singapore. The new commercial venture will control the 15-strong fleet of modern gas carriers that are currently trading.
Davie Wins Canadian Icebreaker Refit Work
Canadian shipyard Davie said it has secured a contract for the upgrade and refit of Canada’s heaviest icebreaker, 50-year-old CCGS Louis St Laurent. The $14 million program, part of the Canadian Coast Guard’s multi-year maintenance plan, will mark the return of the CCGS Louis St Laurent to Davie in February 2017. According to a representative of Fisheries and Oceans Canada, CCGS Louis St Laurent and its hull are in good condition…
Oil Prices Fall as US Drillers Add Rigs
Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, easing the focus on efforts by OPEC and other producers…
Oversupplied Japanese LNG Players to Sell off Excess Volumes
Asian spot LNG prices extended losses this week as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened. Asian prices for LNG delivery in March fell 25 cents to about $7.75 per million British thermal units (mmBtu), traders said, ranging from $8/mmBtu to about $7.60/mmBtu. Prices tailed off even more sharply into April, currently trading at around the $7/mmBtu mark, they said.
New Tug for E.N. Bisso & Son
A new tug built by Signet Shipbuilding and Repair was delivered to E.N. Bisso & Son Inc. in mid-December. The vessel, Gladys B, is Robert Allan Ltd.’s newest RApport 2400 class tugboat design. “She is named for the wife of the founder of the company in 1946, Captain Edwin Napoleon Bisso. This powerful steel titan will serve her owner well. Built in America, built by Americans and built for progress. She will soon be known in Louisiana as the Maserati of the River,” said Signet President, J.
Polymer Inhibits Galvanic Corrosion on Foil Supported Cats
Vesconite is typically found on a boat as a strut or rudder bearing material, but yacht designer Scott Jutson of Jutson Marine Design has a unique application for it. He specifies the advanced polymer as a corrosion isolator on his aluminum Hysucat (hydrofoil supported catamaran) designs. Jutson uses 3mm sheets of Vesconite as an interface between SAF 2205 stainless steel hydrofoils and the aluminum hulls they're bolted to. The isolator inhibits galvanic corrosion between the dissimilar metals.
Insights: Margo Marks -President, Beaver Island Boat Company
Margo S. Marks is President/General Manager of Beaver Island Boat Company, Beaver Island, Mich. The company has provided passenger, vehicle and freight services, between Beaver Island and Charlevoix, Mich. since 1984. The first ferry service to the island began in 1890. B.I. Boat Company operates two subchapter K vessels with a capacity of up to 294 passengers and 16 vehicles on the larger vessel, and 172 passengers and 9 vehicles on the smaller vessel.
Marine News Boat of the Month: January 2017
Gulfstream Shipbuilding’s Custom Aluminum Ferry: U.S. Department of Homeland Security awards Ferry Contract for vessel built specifically for Eastern Coastal Waters. In December, Gulfstream Shipbuilding was awarded a contract through the United States Department of Homeland Security for a passenger/vehicle ferry to service New York and Connecticut waters. This crew boat-style vessel will be capable of transporting passengers…
US Coast Guard Awards Navigation System Contract
The Coast Guard's Command, Control and Communications Engineering Center (C3CEN) awarded a contract to FLIR Maritime US, Inc., of Nashua, New Hampshire, Wednesday…
Majestic Fast Ferry Chooses Perkins Aux Engines
Perkins 4.4TW2GM auxiliary engines have been selected by Majestic Fast Ferry Pte Ltd in Singapore to power the generators on board three new 33m catamaran fast ferries being used for comfortable travel to Batam and Tanjung Pinang Island. The new series of luxurious ferries, Majestic 7, 8 and 9 have been equipped with 100 kVA generators powered by two 4.4TW2GM Perkins auxiliary engines. Majestic 9, the most recent of the new ferries, was launched in November 2016.
Advantage Vancouver: Building a Global Maritime Hub
As Canada’s largest port, Vancouver B.C has always been big on shipping. Now they have their sights set on becoming a world-class maritime center. “There’s no problem selling Vancouver,” says Kaity Arsoniadis-Stein, Executive Director of the Vancouver International Maritime Center (VIMC), the organization heading up the expansion initiative. She points out that despite the current slump in shipping, experts are pegging global growth to resume and gain momentum toward 2030.
Innovative Cruise Ship Hosts LNG Conference
As part of the international trade conference "Making LNG Happen: Combining Forces for Sustainable Shipping," 80 representatives from the fields of business, politics and science visited the cruise ship AIDAprima in Rotterdam on Thursday, January 26, 2017. The guests included Dirk Brengelmann, Ambassador of the Federal Republic of Germany in the Netherlands and his Norwegian colleague Martin Sørby.
Marine Business Helps Power GD Forward
General Dynamics (NYSE: GD) reported fourth-quarter 2016 earnings from continuing operations of $807 million, a 5.6 percent increase over fourth-quarter 2015, on revenue of $8.2 billion. Diluted earnings per share from continuing operations were $2.62 compared to $2.40 in the year-ago quarter, a 9.2 percent increase. Full-year earnings from continuing operations were $3.1 billion, a 3.3 percent increase from 2015 on revenue of $31.4 billion.
Greener Ship Recycling: DNV GL, Norddeutsche Reederei Strike Deal
DNV GL and Norddeutsche Reederei H. Schuldt signed a contract to carry out Inventory of Hazardous Materials (IHM) certifications for the shipping company’s managed fleet of more than 50 vessels. The first vessel to undergo sampling and testing is the 3700 TEU container vessel Northern Dexterity. Once complete, this certification provides independent verification of the vessels’ IHM, as required by the European Ship Recycling Regulation.
Shell to sell $3B in North Sea Assets
Royal Dutch Shell is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said…
DNV GL to certify 50 IHMs for Norddeutsche Reederei
DNV GL and Norddeutsche Reederei H. Schuldt have signed a contract to carry out Inventory of Hazardous Materials (IHM) certifications for the shipping company’s managed fleet of more than 50 vessels. The first vessel to undergo sampling and testing is the 3700 TEU container vessel Northern Dexterity. Once complete, this certification provides independent verification of the vessels’ IHM, as required by the European Ship Recycling Regulation.