Teekay Declares Dividend
Teekay Corporation (Teekay or the Company) (NYSE:TK) announced that its Board of Directors has declared a cash dividend on its common stock of $0.055 per share for the quarter ended December 31, 2016. The cash dividend is payable on February 15, 2017 to all shareholders of record as at January 27, 2017.
Megastar's First LNG bunkering at Skangas Pori Terminal
To be completed at the Meyer Turku shipyard in late January, Tallink’s new liquefied natural gas (LNG) powered fast ferry M/S Megastar was bunkered with LNG for the first time at the newly opened Skangas Pori LNG terminal on January 4. Her maiden voyage will take place from Tallinn to Helsinki in late January. The ferry is fuelled with the cleanest available marine fuel LNG and is compliant with the new, stricter emission regulations of Emission Control Areas (ECAs) such as the Baltic Sea.
Criminal Proceedings Against ST Marine Employee
On 12 September 2011, Singapore Technologies Engineering Ltd (ST Engineering) announced that the Corrupt Practices Investigation Bureau (CPIB) was investigating…
EMGS' Vessel Utilisation Soars
Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Downtime (technical or maritime) and some standby activities are not included in the utilisation. Vessel utilisation for the fourth quarter 2016 came in at 89% compared with 21% for the fourth quarter in 2015.
Wärtsilä Repowers Italian Ferry
The Italian ferry company Moby S.p.A has chosen Wärtsilä to carry out the repowering of its passenger ferry MV Moby Zaza, the final vessel in a series of repowering projects that started with MV Moby Corse and continued with MV Moby Kiss. The scope of the agreement covers equipment as well as commissioning and systems integration. The Wärtsilä equipment provided include four new auxiliary generating sets with digital automatic voltage regulators…
Polferries, Sup4Nav Ink Navdec system Deal
The Navdec system designed to improve safety of passengers and freight and aimed to support navigators in collision situations was tested on board the ferry m/f Wawel and m/f Mazovia in 2016. This invention will also be installed now on m/f Baltivia sailing from Świnoujście to Ystad. Polferries decided to equip all ferries with Navdec system to improve safety of passengers and freight. Accordingly…
DOF Bags Contracts from Asco and Eni
Norwegian offshore vessel owner DOF has been awarded charter contracts for a platform supply vessel (PSV) and an anchor handling tug supply vessel (AHTS). DOF said on Wednesday that the company won a two-year firm contract plus options with Asco Marine for the Skandi Aukra PSV. In addition, Eni Norge awarded DOF with a 13-month call-off contract, with a minimum 60 days firm agreement for the AHTS Skandi Iceman. Both contracts commenced with effect from December 2016.
AltaGas to Build First Propane Terminal on Ridley
AltaGas says it will proceed with construction of Canada’s first West Coast propane export facility. It has federal approval and long-term commercial agreements in hand. The Ridley Export Terminal, located at Prince Rupert, B.C., will be designed to ship 1.2 million tonnes of propane per year and is estimated to cost approximately $450 - $500 million, the company says. The terminal, near Prince Rupert, will cut shipping distances to Asian markets to 10 days from 25 compared the U.S.
Multipurpose Shipping Freight Rates to Improve by End 2017
The multipurpose shipping market will see the first signs of recovery by the end of 2017, following in the steps of the dry bulk and container shipping markets, according to the latest Multipurpose Shipping Market Review and Forecaster report published by global shipping consultancy Drewry. Dry cargo demand is weak but strengthening with multipurpose shipping market share expected to grow at just under 2% per year to 2020.
Newcastlemax Duo Joins Diana Shipping’s Fleet
Diana Shipping has taken delivery of the m/v San Francisco (formerly Hull No. H2548) and the m/v Newport News (formerly Hull No. H2549), two new building Newcastlemax dry bulk vessels that were contracted in May 2013. The m/v San Francisco has been time chartered to Koch Shipping Pte. Ltd. at a rate of $11,750 per day, for a period of minimum twelve (12) months to about sixteen (16) months. The charter is expected to commence on January 6, 2017.
Box Ships APL Denver and Wan Hai 301 Collided
The container carriers APL Denver and Wan Hai 301 collided off Pasir Gudang Port in Johor, Malaysia, resulting in an oil spill. Maritime and Port Authority of Singapore (MPA) said it was notified by the Johor Port Authority (JPA) of a collision between Singapore-registered container vessel Wan Hai 301 and Gibraltar-registered container vessel APL Denver. In a statement, MPA said the master of APL Denver reported that one of the vessel's bunker tanks sustained damage…
EPA Awards Nearly $2 Mln for Clean Repowers
Three New England projects have been awarded nearly two million dollars under the U.S. Environmental Protection Agency’s (EPA) competitive national grant competition to reduce diesel emissions.
Great Lakes Shipyards Heating up for Winter
As temperatures drop, the pace is heating up at Great Lakes shipyards where winter is typically the busiest season, and this year is no exception. U.S.-flag Great Lakes vessel operators will spend more than $80 million to maintain and modernize their vessels for the 2017 shipping season, according to the Lake Carriers’ Association (LCA). “Once again Lake Carriers’ Association members are demonstrating their commitment to Great Lakes shipping,” said James H.I.
LNG: Lagging, Not Gone
Low energy prices, depressed day rates and slow growth of bunkering infrastructure has dampened progress for the marine industry’s ‘white knight’ of environmentally friendly fuels. LNG, nevertheless, is here to stay. Liquified Natural Gas (LNG) is a clean fuel in abundant supply. The green advantages of LNG are well known: Class Society DNV-GL, a pioneer in the commercialization of LNG fueling for maritime applications…
Eight LARS Systems Delivered to the Kuwait Coast Guard
Ending 2016, TBV Marine Systems, part of High-Tech Solutions & Design B.V., has finished the commissioning for eight FRC/RHIB Launch and Recovery systems (LARS) that have been delivered for four new vessels ordered by the Kuwait Coast Guard. For this project, the LARS was designed to carry a craft with a length of nearly nine meters, with a maximum weight of six tons. For each vessel, the stern ramp was designed to carry two systems, which were both powered by one hydraulic power unit.
Cortland Australia Bags Singapore Contract
Engineered rope specialist Cortland Australia said it has secured a contract to supply Singapore’s ASL Shipyards with high performance Plasma 12x12 towlines for BHP Billiton Towage Services’s new fleet of six RAstar85 ASD escort tugs. The specifically developed ultra-high-molecular-weight polyethylene Plasma (HMPE) ropes will be the largest used on-board escort tugs in Australia. They will be deployed in Port Hedland, Western Australia.
Gaslog’s New LNGC to Feature Mark V Technology
Following Samsung Heavy Industries’ (SHI) order announced last October 11, 2016, the new GTT's Mark V technology is confirmed as the technology to equip the new…
Great Ships of 2016: Ternsund
Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. The Switch has been engaged in the maritime industry for only three and a half years, but it already has approximately 20 ships in its reference list, including the first, the 15,000 dwt M/T Ternsund (featured on this month’s cover) owned by Terntank, which is a fourth generation company that in 1958 was a one ship company…
New Fast Rescue Boats for P&O Ferries
Survitec Group announced that P&O Ferries have installed two new Survitec BRUDE Explorer-720 fast rescue boats onto their vessels, the Pride of York and the Pride of Bruges operating on the North Sea route between Hull and Zeebrugge. The BRUDE Explorer-720, an innovative and efficient fast rescue boat, is 7.4m in length and has proven reliability, maneuverability and sea-keeping abilities, Survitec said. It is perfect for search and recovery, dive support and workboat duties.
Delay Averted with Underwater Sterntube Renewal
Hydrex Underwater Technology has assisted an excavation vessel hemorrhaging oil from a stern tube seal entangled with steel wire to pass safely through the Panama Canal. The 156m long, Dutch-owned vessel was unable to make the canal transit until the propeller shaft seal had been repaired, potentially delaying operations and resulting in financial penalty for the owner. Antwerp-headquartered underwater ship repair specialist Hydrex…