Korean Shipyards Cut Costs to Boost Profit
South Korea's Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) said that they will strive to boost their profitability via increased orders and continued cost-cutting measures, reports Yonhap. According to Park Dae-young, president of SHI, the shipyard will continue to work toward efficient management while implementing its self-rescue measures as scheduled. "In order to survive, we will make efforts to secure competitiveness and boost profits," Park said.
Singapore Approves Japan Shipping JV
The Competition Commission of Singapore (CCS) has given the nod to a proposed joint venture between three Japanese shipping lines. Japan’s big three shipping groups, Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK), announced last year an integration of their container shipping business with the establishment of a joint venture by 1 July 2017 and the commencement of joint servce from 1 April 2018.
Hapag-Lloyd Expects Rising Freight Rates in 2017
Moderate increases in freights to be achieved in 2016; new Alliance membership starts on April 1. German container shipping line Hapag-Lloyd expects freight rates to be several percentage points higher this year than in 2016, one of a number of factors that should help the company improve its profitability, it said on Monday. "Freight rates are still unstable in early 2017," Chief Executive Rolf Habben Jansen told a news conference.
ABB to Power and Remotely Monitor LNG FSRU Vessel
ABB will supply the power and electric propulsion system to a new Floating Storage and Regasification Unit (FSRU) for BW Group, which will also be remotely connected to ABB’s Collaborative Operations Centers. The equipment onboard will provide data to the shore-side Centers allowing ABB and the vessel owner to take a proactive approach to maintenance throughout the lifetime of the vessel. “The modern power system must be both efficient and connected…
First Citywide Ferry Departs for New York
The first of 13 new passenger ferries being built by Horizon Shipbuilding, Inc. for operator Citywide Ferry by Hornblower has departed the Alabama shipyard en route for its new home in New York. The ferry H200 departed to the University of Alabama fight song trumpet fanfare from Horizon on Tuesday, March 21 and will travel approximately 1,700 nautical miles to New York City. The second ferry (H201) is scheduled to depart shortly.
Italian Frigate Launched With GE Gas Turbine Propulsion
GE’s Marine Solutions has announced that the seventh multi-purpose Italian FREMM frigate Federico Martinengo, was launched on March 4. The ceremony was held at Fincantieri’s Riva Trigoso shipyard in Genoa, Italy. All of the Italian Navy’s new Carlos Bergamini-class FREMM frigates (10-ship program) feature the same power dense GE LM2500+G4 gas turbine in a COmbined Diesel eLectric And Gas turbine (CODLAG) propulsion system.
Baltic Index Rises on Strong Demand for Larger Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than two-year high on Monday on higher demand for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, touched its highest level since November 2014. The index was up 42 points, or 3.39 percent, at 1,282 points. The capesize index gained 138 points, or 5.56 percent, at 2,620 points.
VARD Selects Synapsis INS For an Advanced Research Vessel
The German navigation system integrator Raytheon Anschütz has won a contract for the supply of a Synapsis Integrated Navigation System (INS) to an advanced research vessel. VARD Holding Limited, a major global designer and shipbuilder of specialized vessels, with their subsidiary VARD Electro AS, have selected Raytheon Anschütz’ Synapsis INS for a new research vessel. The Synapsis INS is part of a large equipment and electrical installation package…
Coalition Urges Congress to Address Asian Carp in the Great Lakes
A coalition of maritime business and industry organizations sent a letter to key Members of Congress on Friday, March 24 urging funding for the Great Lakes Restoration Initiative (GLRI) to further support efforts undertaken by the State of Illinois to slow, stop and reverse the migration of Asian carp, an aquatic invasive species, through cost-effective measures. In the letter, the UnLock Our Jobs…
ABS Leads Industry Discussion on 2020 Sulfur Cap Impact Scenarios
ABS, a provider of classification and technical services to the marine and offshore industries, held its annual National and Regional Committee meetings in London, Copenhagen and Hamburg in mid-March. “Our committee meetings provide a platform for transparent, robust and engaging conversation with industry,” says ABS Chairman, President and CEO Christopher J. Wiernicki. The committee meetings provide a forum for ABS Members…
DSC Completes Series of Works on Jan de Nul Group Vessels
Damen Shiprepair & Conversion (DSC) has recently completed works in Vlissingen and Brest on two major vessels in the fleet of dredging and marine construction specialist Jan de Nul Group. One of these is the Vole au vent, a 140-meter jack-up vessel built specifically for the installation of the latest generation of offshore wind turbines. The other is the trailing suction hopper dredger Leiv Eiriksson. Both vessels are among the largest in their classes, anywhere in the world.
ABS' Howard Fireman Weighs in on the US Brown Water Sector
Howard Fireman, Senior Vice President and Chief Technology Officer, joined the American Bureau of Shipping (ABS) in 2013. Fireman is responsible for leveraging the latest advancements in technology to drive the development of innovative products and services that promote safety and improve the delivery of class services in the marine and offshore industries. Since joining ABS, Fireman has also served…
Rolls-Royce Signs MoU to Develop Smart Ships
Rolls-Royce and the Technology Center for Offshore and Marine, Singapore (TCOMS) have signed a Memorandum of Understanding to form a strategic partnership to develop smart ship technologies. The partners will work on world leading research to develop fundamental technologies, such as smart sensing, digital twinning and integrated modelling which are essential to the development of future marine data based solutions.
Marine Coatings Evolve for the Better
Innovation and new technology continue to shape the marine coatings market. A narrowing field of global coatings manufacturers offer new products while improving existing ones to meet customer demand. Ultimately, customer demand, along with environmental compliance pressures are all driving the marine coatings industry as ship owners, operators and shipyards alike seek better products. Customer demands are often related to cost and efficiency.
Simulation: Delgado Maritime & Industrial Training Center
Delgado’s Simulator Suite is comprised of three interactive Full Mission Bridge simulators. Simulators are used for Wheelhouse Proficiency Management classes to provide scenarios on navigating waterways on different types of vessels. Simulators can be programmed to run three vessels at the same time, so that students in all three wheel houses can communicate and interact with each other. Both conventional and Z-Drive controls can be used in the training.
New Fuel Regs Drive Scrubber Business
The Exhaust Gas Cleaning Systems Association and its members are preparing to meet higher demand for gas scrubbing systems to bring SOx emissions in line with the targets set by the IMO’s 2020 fuel sulfur content proposals. As previously reported by this correspondent in Maritime Reporter and Engineering News (December 2016 issue, page 24; January 2017 issue, page 28), the IMO has come in for some…
Antwerp Focuses on India, China and Eastern Europe
Malini Dutt, Robert Feng and Martin Hubenack have recently been appointed to represent the port of Antwerp in India, China and Eastern Europe respectively. This brings the number of port representatives to 12, reinforcing Antwerp's presence in its core hinterland and important overseas growth regions. The task of these representatives is to keep Antwerp "top of mind" with local companies, ports, chambers of commerce and other players.
Dryships Acquires Four Newcastlemax Vessels
DryShips Inc. has entered into agreements with unaffiliated third parties to acquire four Newcastlemax bulk carriers of approximately 206,000 DWT and with an average age of 3 years. The company expects to take delivery of the vessels before the end of June 2017. DryShips will finance the total gross purchase price of approximately $124 million using cash on hand. Current liquidity stands at approximately $455 million.
HMAS Choules Sails for Cyclone Support
HMAS Choules has sailed for northern Queensland waters in support of communities which may be affected by Tropical Cyclone Debbie. The amphibious ship, left Sydney on 27 March as part of broader Australian Defence Force support to Queensland emergency services responding to the cyclone, which is expected to make landfall early on 28 March. The Chief of the Defence Force, Air Chief Marshal Mark Binskin…
Antwerp Port Authority Centralises Operational, Maintenance Departments
In order to streamline the Port Authority's technical and nautical departments and improve the service to customers, these departments are being centralised to form a joint cluster. Three large new facilities will be set up at the site on quays 602-612: a central workshop (for the technical services), a nautical building (for the tug, dredging and crane services) and two floating dry docks with widths of 45 and 55 metres respectively.