Acquisition of Nor Lines Rejected
The Norwegian Competition Authority has today rejected Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS. The result of this decision is that Eimskip is not allowed to acquire Nor Lines. The potential acquisition of Nor Lines was not taken into account in the EBITDA forecast for the year 2017, and therefore this decision has no effect on that forecast. Acquisition cost in year 2017 related to this project is estimated EUR 300…
MOL Participated in MLIT R&D Support Projects
Mitsui O.S.K. The project covers parts of the technologies used in MOL's R&D project, "ISHIN NEXT - MOL SMART SHIP PROJECT" , announced in November 2016, which aims to reduce workplace accidents onboard, reduce the workload of seafarers, and enhance crew operation and technical skills. This is the second consecutive year MOL has been selected for MLIT's project. These projects are also undertaken as joint research studies with Nippon Kaiji Kyokai(ClassNK).
Seanergy Maritime Reports Q4 Results
Seanergy Maritime Holdings Corp reports financial results for the fourth quarter and twelve months ended Dec. 31, 2016. For the fourth quarter and twelve months ended December 31, 2016, the Company generated net revenues of $10.9 and $34.7 million respectively. As of December 31, 2016 total stockholders’ equity was $30.8 million and cash and restricted cash was $15.9 million. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer…
DryShips Acquires Six Vessels
DryShips Inc. has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited. These vessels are comprised of one Aframax tanker built in 2012, three Kamsarmax drybulk vessels, one currently under construction and two built in 2014, and two very large gas carriers (VLGCs) currently under construction pursuant to the previously announced "zero cost" option agreement.
Singapore, Japan to Collaborate in Development of Ports
Maritime and Port Authority of Singapore (MPA) signed a Memorandum of Cooperation (MOC) with the Ports and Harbours Bureau of the Ministry of Land, Infrastructure, Transport, and Tourism of Japan (MLIT) at the sideline of the International Symposium on LNG bunkering in Yokohama, Japan. The areas of cooperation under the MOC include port planning, port management and technological development in the port sector.
Harmonious Relationships for Smooth Sailing
Navy people come from all walks of life, bringing different perspectives and traditions to the modern service – a fact not lost on many on 21 March – Harmony Day. The day aims to celebrate Australia’s cultural diversity, emphasising inclusiveness, respect and a sense of belonging. Like many Navy ships, HMAS Success celebrated Harmony Day whilst at sea acknowledging their own spread of cultures, races and religions onboard.
NUWC Division, Newport Signs EPA with New Bedford Whaling Museum
Capt. Michael R. Coughlin, commanding officer of the Naval Undersea Warfare Center (NUWC) Division, Newport, and James Russell, president and chief executive officer (CEO) of the New Bedford Whaling Museum (NBWM), signed an education partnership agreement (EPA) for undersea acoustic research during a brief ceremony on Friday, March 31. Under the EPA, NUWC Newport will provide research, expertise, and…
U.S. Coast Guard Selects FLIR and Raymarine
FLIR Maritime announced recently that it has been awarded a $50 million indefinite delivery, indefinite quantity contract to provide marine electronics systems under the U.S. Coast Guard’s Scalable Integrated Navigation Systems 2 (SINS-2) program over a five-year period providing the purchaser a right to extend delivery for an additional five years. FLIR will provide electronics systems that will be standard fit on over 2,000 U.S.
NOIA Applauds Proposed Repeal of Royalty Valuation Rule
“NOIA supports repeal of Interior’s 2017 Royalty Valuation Rule, which would have created a cloud of regulatory uncertainty, put at risk billions of dollars of federal oil and gas leases and left much needed jobs and revenue for America on the able. The offshore industry, which accounts for nearly a quarter of our nation’s domestically produced oil and natural gas, needs a clear, consistent and fair regulatory environment to thrive.
Vale: Iron Ore on Sunken Ship Insured
Brazilian miner Vale SA said on Monday that 260,000 tonnes of fine iron ore on a South Korean ship that sank in the South Atlantic had been insured. Vale said in an email that the cargo, which belonged to the Brazilian miner, was bound for China for storage and blending when the ship operated by South Korea's Polaris Shipping, Stellar Daisy, sank off Uruguay's coast. Vale said the cargo had been stowed in accordance with international norms. Reporting by Roberto Samora
Improve Your Bottom Line with Condition Monitoring Systems
All operators worry about the same thing – the next outage that puts your vessel out of commission. Millions of dollars are invested every year into maintenance programs. State-of-the-art condition monitoring systems like the Windrock 6400 can predict and help prevent downtime and failures. Performance monitoring can be described as the process of gathering data from machinery to assess the overall operating capacity of the system it is a part of.
USS Independence on Time & on Course
The decommissioned aircraft carrier, USS Independence has just passed by Costa Rica on its final mission, from Bremerton and onward to Brownsville, Texas. This is the first leg of a long 16,000 mile journey that will take the 60,000-ton super carrier around the tip of South America, transiting the Strait of Magellan and eventually into EMR Group’s International Shipbreaking Ltd. yard in Brownsville, Texas.
Seized Indian Dhow in Vicinity of Hobyo, Somalia
An Indian registered cargo dhow that was hijacked by suspected Somali pirates on April 1 is now in the vicinity of Hobyo, a major meeting point of pirates when they were most active in 2011…
Daewoo to Deliver Two More LNG Tankers in 2017
South Korea's Daewoo Shipbuilding expects to deliver two more ice-class tankers to lift liquefied natural gas (LNG) from Russia's Yamal LNG project this year, a company spokesman said on Monday.
ABS Concept Approval Advances LNG as Fuel
ABS has granted a Certificate of General Design Approval (GDA) for an IMO Type B LNG fuel tank design developed by Hyundai Heavy Industries (HHI) of South Korea. HHI’s fuel tank design was conceptualized and developed to minimize the loss of cargo space and effectively use available area on board the vessel. Targeting gas-fueled vessels, the conceptual fuel tank design is based on a 14,500 TEU containership design but can be sized for other ship types and sizes.
ABB, Presserv Partner to Preserve Idle O&G Vessels
ABB’s marine and ports business will partner with Presserv to offer maintenance packages for vessels that serve the oil and gas industry that are laid-up for prolonged periods. The two companies will combine specialized services to enable the preservation of equipment onboard, which will eventually allow the smooth and timely resumption of service. As part of the cooperation, ABB will utilize its Remote Diagnostic Service (RDS) to provide key data to optimize the care packages.
MHI, Shipbuilders Form Alliances
Mitsubishi Heavy Industries, Ltd. (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing…
Wärtsilä BWMS Selected by Minerva Marine
The technology group Wärtsilä has agreed to supply globally operating tanker vessels managed by Minerva Marine with Aquarius ballast water management systems (BWMS). The agreement covers the retrofit of several vessels and represents an important milestone in the BWMS retrofit market. The main BWMS chosen for tankers managed by Minerva Marine Inc. is the Wärtsilä Aquarius ATEX compliant Electro Chlorintation EX…
Ecochlor Submits USCG Type Approval Application
Ecochlor has announced it has filed an application with the USCG for Type Approval for their Ballast Water Treatment System (BWTS). Due to a far more stringent set of guidelines, type approval has only been granted to three other BWT Systems worldwide, none of which offer Ecochlor’s unique, patented ClO2 technology. Upon USCG approval, the Ecochlor BWTS will extend the range of options for shipowners beyond UV and electrochlorination technologies.
KotugSmit Towage Starts Towing in Southampton
On April 1, 2017 Kotug Smit Towage (KotugSmit) commenced towage activities with four powerful tugs in the port of Southampton, United Kingdom. The tugs ‘ZP Boxer’ and ‘SD Salvor’ performed their ‘first’ assistance on the River Test. The container vessel ‘MOL Brilliance’ was towed to the DP World Container Terminal in Southampton. Thanks to a warm welcome and in close cooperation with the local port authorities and pilots…