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
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.
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.
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…
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.
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.
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.
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…
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).
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…
Eastern Shipbuilding Gets NTP with NYCDOT
Eastern Shipbuilding Group (ESG) has received Notice to Proceed (NPT) from The City of New York Department of Transportation (NYCDOT) for the detail design and construction of three new Staten Island-Ollis Class Ferries for the Staten Island Ferry Division. Eastern is extremely honored to be the winning shipyard that will construct and deliver three new Staten Island Ollis Class Ferries to NYCDOT and the Staten Island Ferry Division.
Baltic index Slips as China Holiday Dampens Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its biggest one-day percentage decline in over one month, as a holiday in China weighed on demand for capesize vessels. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell for the fourth straight session on Tuesday. It slipped 27 points, or 2.1 percent - the biggest one-day percentage decline since Feb. 28 - to 1,255 points.
Wärtsilä to Provide Solutions for Höegh FSRU, LNG Vessels
The technology group Wärtsilä has been contracted to provide both equipment and maintenance for FSRU and LNG carrier vessels of Norway based operator, Höegh LNG. The orders were booked in the first quarter of 2017. Two new 170,000 m3 LNG carrier vessels being built for Höegh LNG at the Samsung Heavy Industries (SHI) and Hyundai Heavy Industries (HHI) shipyards in Korea will each be powered by four Wärtsilä 50DF dual-fuel engines. There is an option for a further three vessels in the SHI series.
Yemen Forces Prepare to Move on Main Port
Yemeni government forces and their Arab allies are massing north and south of the Houthi-held Red Sea port of Hodeidah despite United Nations and aid groups warnings…
Owners Urged to Verify Safety of Deck Machinery for Polar Operation
With the Polar Code now in force, Thordon Bearings has urged shipowners and managers to verify that their vessels’ deck machinery and systems can operate safely in the extreme temperatures encountered in Arctic and Antarctic seas. Scott Groves, Thordon Bearings Regional Manager – Americas, said: “Conventional bronze bearings commonly found in everything from fairleads and lifeboat davits to winches…
Multi-million Dollar Deal for Somaliland's Historic Port Sparks Land Rush
The land along the road into Berbera is barren and empty. Somaliland's small, rusty Gulf of Aden port which for centuries made the town prosperous rises suddenly…
Seized Indian Vessel Moved to Undisclosed Location
Pirates who hijacked an Indian cargo dhow with 11 crew on board have moved the vessel to an undisclosed location within Galmudug waters off the Somali coast until their ransom demands are met…
General Dynamics Christens Future USS Thomas Hudner
On April 1, General Dynamics Bath Iron Works christened the U.S. Navy’s newest guided-missile destroyer, Thomas Hudner (DDG 116). The ship is named for Capt. Thomas Hudner Jr., who intentionally crash landed his plane in an effort to save Ensign Jesse Brown, the nation’s first African-American Navy pilot, during the Korean War’s Chosin Reservoir campaign. The Saturday morning christening ceremony took place at Bath Iron Works’ shipyard and was attended by Capt.
Coast Guard Begins Operation Spring Restore
Coast Guard aids to navigation teams throughout the Ninth Coast Guard District has begun restoring the Great Lakes and St. Lawrence Seaway aids to navigation system. Slightly more than 11 percent of the operation has been completed so far. Operation Spring Restore involves placing approximately 1,216 navigational aids, including lighted and unlighted buoys and beacons. Roughly half of the aids in the…
Kotug, Seabulk Team Up in Bahamas
KOTUG International and Seabulk Towing have been awarded a contract with Borco Towing Company to carry out all towage operations at their Buckeye Bahamas Hub in the Bahamas. The contract will be performed through a newly formed joint venture between KOTUG and Seabulk: Kotug Seabulk Maritime. The Buckeye Bahamas Hub currently has over 26 million barrels of storage capacity and eight berths, including two VLCC-capable berths…