Cosco Closing Down Yards
COSCO Shipping Heavy Industry Co is planning to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, China Daily reported. China's third largest shipbuilder by output makes this move as the company's latest effort to cut overcapacity, since the global market is unlikely to see a notable upturn anytime soon. Under the plan, its shipyards in Nantong, Zhoushan and Dongguan will be shut down.
San Diego Shipyards Getting $383mln to Repair Navy Ships
Three San Diego shipyards - BAE Systems San Diego Ship Repair, Continental Maritime, General Dynamics, and National Steel and Shipbuilding Company - have received a combined $383 million contracts for complex maintenance, repair and modernizations on amphibious ships. Sputnik News quoting the Department of Defense said that the shipyards “are being awarded a combined $383 million,” to modernize the vessels. The work will be carried out on amphibious ships home-ported in San Diego, California.
Chine Cruise Ship's New Destination: Disputed South China Sea
China has commissioned a new cruise ship to take tourists to islands claimed by Vietnam in the disputed South China Sea, reinforcing its claim over the area, reports Reuters. The ship called Changle Gongzhu, or Changle Princess, sailed from Sanya with 308 passengers on board. Its first voyage will last four days and three nights, said an official with Hainan Strait Shipping, owner of the vessel. The Paracel Islands…
GAIL's First Time-Swap Deal for US LNG with Gunvor
Indian state-owned gas company GAIL has reached a deal with Swiss energy trading firm Gunvor to swap American liquefied natural gas (LNG) cargoes for shipments from other sources, Reuters reported. It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive.
Australian Navy Invests in Vests
Sailors at the Australian International Airshow at Avalon have had a very small but very important piece of kit to show the public. The item officially known in Royal Australian Navy parlance as the 'Boarding Life Jacket Load Bearing', is a new capability that turns three items of Navy equipment in one. Sailors from the Seamanship School at HMAS Cerberus were kept busy answering questions about the new jacket which will be used by members of Australian Navy boarding parties.
Polarcus Bags Work in Australia, West Africa
Polarcus Limited has announce that the Company has finalized a contract for 3D marine seismic acquisition in Australia. The program will deliver a high quality broadband data-set utilizing one of the Company's highly efficient Polarcus X-bow vessels operating under the Polarcus Explore Green environmental agenda. The project is due to commence in Q3 2017 and will run for approximately two months. In addition…
Oman Shipping to Acquire 10 Tankers
Omani government-owned Oman Shipping Company (OSC) has secured USD 227 million in debt to finance the acquisition of ten tankers, Reuters said citing France-based Societe Generale. The new medium range tankers are chartered to Shell Tankers Singapore for seven years. Societe Generale acted as sole arranger and sole underwriter for the landmark transaction, which involved a combination of export credit agency (ECA) and commercial financing.
Libya: Air Strikes Aimed to Regain Oil Ports
East Libyan forces carried out air strikes around major oil ports on Saturday as they sought to regain control of the area from a rival faction, a military spokesman said.
Seaspan Makes Leadership Moves
Steve Roth has been promoted to President of Seaspan Ferries Corporation (SFC). In this position, Steve will continue to have the primary accountability for the overall performance of the SFC business unit, including management of day-to-day operations of SFC, as well as the short and long-term strategic planning processes, including setting and fulfilling revenue and profitability targets and maintaining relationships with all stakeholders.