India Upgrades Standards of Major Ports
Significant improvement in efficiency has been achieved by India's Major Ports in the last two years, said the Minister of State for Shipping Pon. Radhakrishnan. With a view to improve further the efficiency and productivity of the major ports and make it comparable internationally, a benchmarking study of Major Ports to international standards has been conducted which has recommended 116 initiatives out of which 70 have already been implemented.
Ship Values Successful Women
International Women's Day at sea onboard HMAS Success was business as usual with key positions held by female officers and sailors during replenishment activities. New Zealand's HMNZS Te Kaha was the Australian battle tanker's thirsty recipient on 8 March, while the ships were conducting intensive war fighting training off the Western Australian coast. Commanding Officer Success Commander Grant Zilko…
Jal Marg Vikas Project Takes Off in India
The Jal Marg Vikas Project (JMVP) on National Waterway-1 (NW-1) is being implemented with the financial and technical support of the World Bank. The Project envisages preparation of Disaster Management Plan (DMP) and Emergency Management Plan (EMP) to take care of activities like navigation, terminal and jetty operation, oil spill, disaster contingency, etc. after the commissioning of the project and while operating cargo and passenger vessels on NW-1.
DryShips Completes Common Stock Offering
DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017. Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding. George Economou, Chairman and CEO commented: "We are very pleased to have successfully raised an additional $198 million of equity…
India Bags USD 6.22 bln Investment in Ports and Water Transport Sector
Foreign Direct Investment upto 100% under automatic route is already permitted in the Port Sector. This has resulted in several Public Private Partnership (PPP) projects coming up in the Major Ports. At present, a total of 33 PPP Projects with an investment of INR 17817.96 crore (USD 2.8 bln) are operational and 20 more PPP projects with an investment of Rs. 22362.67 cr (USD 3.42 bln) are under implementation. In total it comes to USD 6.22 bln.
TEN Strengthens Vessel Base
Tsakos Energy Navigation (TEN)'s growth has continued unabated in 2017 with the delivery of one VLCC, the Hercules I, one aframax tanker the Marathon TS and the shuttle tanker Lisboa, currently all under long-term employment to solid counterparties. These came on the back of nine vessels that were delivered or acquired in 2016 and will be followed in 2017 by the last four, of nine, aframaxes that were built against long-term employment to a Norwegian oil major.
Transportation Electrification Arrives at the Waterfront
Transportation electrification (TE) is starting to impact California like no other state, maybe unlike any other place in the world. Essentially, and eventually, TE depends on replacing gasoline and diesel engines with renewably generated electric power. This could include just about every car, truck, fork lift, drayage vehicle, train and ship in California. For the freight industry, including the maritime sector, TE presents complex challenges.
Chantier Davie Shipyard: Competitive Value of Integrated Shipbuilding Tech
Case study: Chantier Davie Shipyard invests in AVEVA technology to keep competitive. Established in 1825, Chantier Davie Shipyard is Canada’s oldest, and still today one of its most innovative, shipyards. Situated in Quebec, the yard has been expanding in both working and production capacity, and its 1,300 workers now have the capability to handle 1,200 t / month of steel production at its 570,000 square meter facilities.
Finnish Firms Present Oil Recovery Project Results
A recent seminar held March 7 and 8 in Porvoo, Finland, saw Finnish companies Arctia and Lamor Corporation present the results of the IMOR (Ice Management & Oil Recovery) project, which seeks to enhance oil recovery in ice conditions. The oil recovery seminar, arranged by icebreaking services provider Arctia in collaboration with oil spill response specialist Lamor, was opened by the company’s respective CEOs, Tero Vauraste and Fred Larsen.
Marlink Acquires IT Management Partner Palantir
Marlink has acquired Palantir AS, a Norway-based maritime IT company specializing in remote IT management solutions. The Share Purchase Agreement whereby Marlink…
Strong Capesize Rates Keep Baltic Index at over 3-month High
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to a fresh over three-month peak on Friday as capezise rates rallied. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 24 points, or 2.05 percent, to 1,196 points - its best since early December. The index, which has risen for the 13th straight session, was up about 40 percent since its previous fall on Feb.
Conrad Delivers Barge to Vane Brothers
Conrad Shipyard recently delivered the DOUBLE SKIN 510A, a 55,000-BBL capacity asphalt barge, to the Vane Brothers Company of Baltimore, Md. The DOUBLE SKIN 510A was constructed at Conrad’s Deepwater South facility in Amelia, La. and will operate out of Philadelphia, Pa.
Pronomar Equips Bibby WaveMaster 1
Damen Shipyards Gorinchem built the walk-to-work services operations vessel Bibby WaveMaster 1, and Pronomar provided drying systems for workwear to the turbine maintenance personnel. Damen Shipyards Gorinchem is the headquarters of the Damen Shipyards Group and delivers up to 180 vessels each year and has built more than 6,000 ships since 1969. This custom-designed vessel was deployed for U.K.-based Bibby Marine Services.
Damen Secures Nigerian Patrol Vessel Order
Just over a year after it took delivery of the second of two FCS 3307 Patrol vessels, Homeland Integrated Offshore Services Limited (Homeland) of Nigeria has ordered one more of the same class with an option on a second, to be named Guardian 3 and Guardian 4. Like their two predecessors, the two vessels are being supplied as a turnkey solution. The Damen Group is taking care of delivery and crew training, as well as the design and build.
Hapag-Lloyd Postpones UASC Takeover
German container shipper Hapag-Lloyd on Friday postponed the completion date for its takeover of United Arab Shipping Company (UASC) to May 31 from March 31, but said the deal, worth 7 to 8 billion euros ($7.52-8.60 billion), was not at risk. All merger clearances and regulatory approvals and all necessary banking approvals from Hapag's side have been obtained as have most banking approvals from Dubai-based UASC’s side, it said.
Aker Solutions Secures Work for Njord A Upgrade
Aker Solutions will provide design engineering for the upgrading of the semi-submersible Njord A platform in Norway. The company will as a subcontractor of Kvaerner take part in upgrading the platform after operator Statoil exercised an option in an agreement awarded in April 2016. The option is for work in the engineering, procurement and construction phase of the project. Aker Solutions' share of…
Is Dry Bulk Still on Track for Profitability in 2019?
The dry bulk industry remains well on target for profitable freight rates in 2019, according to BIMCO. This relies however, on the projected fleet supply growth rate of 0 percent in 2017 continuing. The handymax segment may even see profits in 2018 as demand may go beyond 2 percent in 2017 before reverting to 2 percent in 2018 onward. In 2016, the supply side grew by 3 percent and the demand side grew by 2.4 percent measured on a metric-ton-mile basis.
Video: Durban Pilot Steers Car Carrier in Rough Seas
Earlier this week, Port of Durban’s marine pilot Rainer Rauntenberg safely steered a car carrier vessel into the port as cyclonic weather conditions battered the Durban beach front. On Sunday, March 12, 2017, Rauntenberg steered the ro-ro vessel under adverse weather conditions believed to be caused by a tropical cyclone Enawo, which struck Madagascar last week. A video is available here. As a result of the rough weather conditions…
USCG Commandant Delivers State of the Coast Guard Address
U.S. Coast Guard Commandant Adm. Paul Zukunft delivered the 2017 State of the Coast Guard Address at the National Press Club Thursday. This was Adm. Zukunft's third State of the Coast Guard Address and he emphasized the service as a unique instrument of national security. First and foremost an armed service, the Coast Guard is the only branch of the U.S. armed forces that has broad law enforcement authorities and a portfolio of more than 60 bi-lateral agreements that extend around the globe…
Martek Named on EU Maritime Drone Contract
Martek Marine (Martek) has been awarded a two-year Remotely Piloted Aircraft Services (RPAS) contract from the European Maritime Safety Agency (EMSA). The services offered will fulfil part of the world’s largest ever maritime drone contract. Part of a five-year EMSA strategy of improving coastguard monitoring and surveillance of maritime activity valued at €67 million, the service provision from Martek not only includes the RPAS…