Drewry Trims Long-Term Freight Rate Outlook for LNG shipping
Given the mounting pressure on freight rates and continuing fleet growth over the next two years, Drewry believes that excess vessel supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Drewry maintains a bearish stance on the LNG shipping…
CMA CGM Otello Largest Box Ship to Call Indonesia
CMA CGM Otello has arrived Indonesia as the largest container vessel to call the country at the Jakarta International Container Terminal. The occasion also celebrated her impending maiden voyage for the industry’s first direct service from Indonesia to the United States (U.S.) on 24 April. Officiating the event was Minister of Transportation, Mr. Budi Karya Sumadi. He joined some 350 guests including various government officials as well as industry stakeholders at the milestone celebration.
Demolition Activity Weakens as BDI Moves Higher
After the Baltic Dry Index (BDI) had its seasonal weakness around the Chinese New Year in early February, stronger-than-expected demand came from across the board and lifted freight rates, says BIMCO market analysis of Dry Cargo. This brought earnings into profitable levels for a couple of days, as the BDI passed 1,282 on 27 March 2017. If earnings are at profitable levels now, how come BIMCO’s Road to Recovery keeps mentioning 2018 and 2019?
US, Egypt Begin Eagle Salute 2017
The U.S. Navy with the Egyptian Naval Forces commenced exercise Eagle Salute 2017 in the Red Sea. Eagle Salute 2017 incorporates Eagle Response 2017, an explosive ordnance exercise, to provide opportunities for participating nations to collaborate on an even wider range of maritime security operations. These exercises focus on sharing knowledge and experiences in order to enhance solid regional partnerships.
Indian Warships Visit France
In continuation of the Indian Navy’s overseas deployment to the Mediterranean Sea and West Coast of Africa, three Indian warships INS Mumbai, Trishul, and Aditya, arrived at Toulon, France for a three day visit. The ships were warmly received by the Administration in Toulon and the French Navy at Toulon Naval Base in coordination with the Embassy of India. The visiting ships are a part of the Indian Navy’s Western Naval Command and the Task Group is headed by Rear Admiral RB Pandit…
US Navy Conducts Bilateral Drill with Japan and Korea
U.S. Navy ships are conducting simultaneous bilateral maritime exercises with the Republic of Korea Navy and with the Japan Maritime Self Defense Force today and tomorrow (April 25-26, local time). The destroyers USS Wayne E. Meyer (DDG 108) and ROKN Wang Geon (DDH 978) are conducting combined maritime exercises in waters west of the Korean Peninsula while the destroyers USS Fitzgerald (DDG 62) and JMSDF JS Chokai (DDG 176) execute combined maritime exercises in waters west of Japan.
ABS Facilitates Polar Code Operational Assessment
ABS facilitated a Polar Code Operational Assessment, a milestone in the implementation of the IMO Polar Code. The assessment, which identifies operational risks and limitations, was performed with TE SubCom, a TE Connectivity Ltd. company and an industry pioneer in undersea communications technology, on its cable-laying vessel, Responder. “Completing this assessment is a critical milestone for the marine industry and the first of its kind in North America…
196 Ships Broken Worldwide in Q1
Of the 196 ships sold for scrap in the first quarter of 2017, 65 percent ended up on beaches in India, Bangladesh and Pakistan, said South Asia quarterly update of NGO Shipbreaking Platform. 128 ships were sold for scrap to the South Asian beaches in the first quarter of 2017. 51 of the beached vessels were containerships. The other main shipbreaking destinations, Turkey and China, received 36 and 28 vessels respectively.
AWO, ACC Renew Chemical Shipping Agreement
The American Waterways Operators (AWO) and The American Chemistry Council (ACC) have renewed for three years a Memorandum of Agreement to promote environmental, health…
Infor, GenesisSolutions Form Alliance
Genesis Technology Solutions, Inc. (GenesisSolutions), the asset performance optimization subsidiary of ABS Group, has signed an Alliance agreement with Infor (US)…
Container Shipping: New Networks in Focus
The most recent available data show that demand for the container shipping grew by 2.7 percent in 2016. With the supply side growing by only 1.3 percent, this meant that the fundamental market balance improved for the first time since 2011. This development is primarily due to decisive actions by ship owners who sold excess tonnage for demolition. Hopefully, improved earnings will also follow soon. The metric-ton-mile demand side has grown by an average of 3.4 percent annually during 2012-2016.
New Dredger Launched for Gippsland Ports
The Trailing Suction Hopper Dredger (TSHD) 650 ordered by Gippsland Ports of Victoria, Australia, in December 2015 has recently been launched at Damen Yichang Shipyard in China. The vessel, named Tommy Norton, is now alongside the yard’s new quay undergoing final commissioning, after which she will sail for Shanghai to undertake sea trials. Once those are completed she will sail for Australia on her own keel for dredging trials and delivery. The official handover will take place in August.
DP Conference: Call for Papers
As the offshore oil and gas industry continues to rebound, so will the demand for dynamic positioning technology and services. The annual Dynamic Positioning Conference provides an annual forum for discussion and for exchange of knowledge, experience, new technology and technical know-how associated with the use, evolving technology and application of dynamic positioning. Each year, the conference…
New Coal Carrier Enters Service for JERA Singapore
On April 14, newly constructed coal carrier Isuzu Maru was delivered at Oshima Shipbuilding Co. Ltd. in Saikai, Japan. The new vessel will be operated by NYK Bulkship (Asia) Pte. Ltd., an NYK group company located in Singapore, for the transport of coal for JERA Trading Singapore Pte. Ltd., a coal trading corporation owned by JERA Co., Inc. (67 percent) and EDF Trading Limited (33 percent). JERA Co., Inc.
Venezuelan Crude Sales to the US Down in March
Venezuelan crude oil sales to the United States declined in March for the third month in a row this year to 651,710 barrels per day due to falling exports of main grade Merey…
UN, Russia Warn Against Assault on Main Yemeni Port
United Nations and Russian officials warned on Tuesday against any attack by Saudi-led coalition forces on the Houthi-held Yemeni port of Hodeidah, the aid lifeline…
Armed Pirates Thwarted off Somalia
A European Union counter-piracy patrol helped thwart a piracy attack close to Somalia’s east coast on April 22. Late on Saturday evening, EU NAVFOR’s Spanish flagship, ESPS Galicia, received a SOS distress call from the master of Sierra Leone flagged merchant tanker vessel MT Costina to say that his vessel was being attacked by a number of armed pirates in a fast-moving skiff. ESPS Galicia, which was 14 nautical miles away…
Nearly Half of Interlake Fleet Fit with Scrubbers
The M/V Mesabi Miner has sailed from Fincantieri Bay Shipbuilding Company in Sturgeon Bay, Wis., becoming Interlake Steamship Company’s fourth self-unloading bulk carrier to be outfitted with exhaust gas scrubbers. Interlake became the first U.S.-flag fleet to test freshwater scrubbers on the Great Lakes in April 2015 after pioneering the emission-reduction technology on its M/V Hon. James L. Oberstar. In 2016, the company outfitted its first thousand foot vessel, the M/V James R.
White Paper Addresses Bilge Water Noncompliance
A new white paper from Alfa Laval addresses ship owner concerns to ensure vessel compliance with bilge water regulations worldwide. Even if a traditional system with type approval is operating on board, the paper states, there are still risks of violating applicable laws and damaging the marine environment. Alfa Laval – a leader in heat transfer, centrifugal separation and fluid handling – has announced the availability of a new white paper, Bilge water compliance issues.
Scorpio Bulkers Charters in Ultramax Vessel
Dry bulk vessels owner Scorpio Bulkers Inc. said it has entered into a time charter-in agreement with an unrelated third party on one Ultramax vessel. The agreement…