CME Lifts 'Force Majeure' at Some Illinois River Locales
The CME Group Inc on Thursday said it lifted the majority of force majeure conditions invoked at corn and soybean shipping stations on the Illinois River earlier this month. Force majeure conditions continue to exist at some exchange-approved corn and soybean shipping stations, which may prevent these facilities from loading, the CME said. Corn and soybean futures are traded on the CME's Chicago Board of Trade.
Pasha Hawaii Taps Keppel Fels to Build LNG-Fueled Boxships
Delivery of First Vessel Planned for Early 2020. Honolulu-based Pasha Hawaii today announced that the company has selected Keppel AmFELS in Brownsville, TX, a subsidiary of Keppel Offshore & Marine (Keppel O&M) for the construction of two new Liquefied Natural Gas (LNG) fueled containerships, with the option to order two additional vessels. Pasha Hawaii is in the process of finalizing contract specifications. The new U.S.
Cammell Laird Honors Military Heritage
Liverpool City Region (UK) shipyard Cammell Laird has announced it will be honoring its illustrious naval and military heritage next month by being headline sponsor of the UK’s Armed Forces Day (AFD). The AFD celebrations will take place in Liverpool this year on June 24, with more than 1,000 serving personnel, veterans, cadets and marching bands taking part in a parade followed by a full program of events near the city’s iconic waterfront.
Rickmers Schedules Bondholder Vote on Revamp Plan
Only 17.4 percent of Rickmers' bondholders took part in a vote on the company's restructuring plan on Wednesday, fewer than the minimum required. Under the proposed revamp plan…
Baltic Index Gains On Firmer Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Thursday helped by stronger rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up seven points, or 0.7 percent, at 1,012 points. The capesize index jumped 50 points, or 3.04 percent, to 1,695 points.
SEACOR Declares Spin-Off Dividend of SEACOR Marine Shares
SEACOR Holdings Inc. and SEACOR Marine Holdings Inc. announced the timing and details regarding the spin-off of SEACOR Marine from SEACOR. The SEACOR board of directors…
Spring Cargo Numbers Buoy Great Lakes-Seaway Shipping
Spring cargo numbers from the St. Lawrence Seaway and U.S. ports are signaling a better year for Great Lakes-Seaway shipping. According to the latest figures from the St. Lawrence Seaway, total cargo shipments via the Seaway from the start of the shipping season (March 20 through April 30) reached 3.7 million metric tons, up 8 percent from the same period a year ago. “It’s still very early in the season…
Foreign Defense Contractor Executives Guilty of Fraud
Two former executives of a foreign defense contractor pleaded guilty in federal court today for participating in a conspiracy to submit bogus bids, claims and invoices to the U.S.
U.S. Forecaster Sees Chance of El Nino By Summer, Fall 2017
Neutral or El Nino conditions are nearly equally likely in the Northern Hemisphere this summer and fall, a U.S. government forecaster said on Thursday. The National…
Crowley to Supply LNG in Puerto Rico
Crowley Maritime Corp.’s liquefied natural gas (LNG) services group has been awarded a multi-year contract to supply additional volumes of containerized, U.S.-sourced LNG to a major pharmaceutical company’s manufacturing plants in Puerto Rico. The contract, executed through Crowley’s Carib Energy LLC subsidiary, extends a 2014 contract awarded to Crowley for LNG supply for the facilities by expanding LNG services to additional plants.
Southeast Asia's Largest Concrete Floating Dry Dock Launched
Southeast Asia’s largest concrete floating dry dock has been launched by Singapore’s marine engineering company, GL Engineering & Construction Pte Ltd (GL E&C). Built in Batam, Indonesia with a local sub-contractor, the dry dock named ‘Peleke Nui’ has been specially commissioned by an American company, Marisco Limited. Costing $12 million, the dry dock will be used for the construction, maintenance as well as repair of ships and naval crafts…
Damen To Build New Beam Trawler
Damen Maaskant Shipyards Stellendam (Maaskant) is to build a new beam trawler for the Netherlands fishing fleet. The client is the Hakvoort Brothers from Urk, the Netherlands. The vessel, which will use a stock hull, will join another fishing boat operated by Hakvoort Brothers. This was also built by Damen Maaskant yard, 17 years ago. Based on a well proven design, the new trawler will be 41.05 meters in length and have a beam of 9 meters. As yet unnamed, her registration number will be UK-46.
Optimarin BWT Retrofit Orders Grow
Optimarin has signed contracts with Wisby Tankers and Hoëgh Autoliners to install its market proven Optimarin Ballast System (OBS) on five existing vessels. The agreement, which comes six months after the Norwegian ballast water treatment (BWT) specialist became the first company to win USCG approval, will see Optimarin fitting units on three bitumen tankers for Wisby and two Hoëgh Autoliners RoRo ships.
Egypt Weans Itself off Foreign Gas
Egypt seeking to defer up to 25 LNG cargoes this year-trade; talks with trade houses and producers ongoing. Egypt is holding talks with its liquefied natural gas…
Maersk: Shipping Recovery Coming
Maersk Line posts loss, but company sees improvement. A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business. Shares in the Danish conglomerate climbed almost 5 percent after it said a gradual recovery in freight rates should boost earnings at Maersk Line, the world's biggest container shipping business, over the rest of the year.
Drewry: Scrapping to Accelerate Tanker Recovery
Recovery in the crude tanker shipping market is not expected until 2020 as weak trade growth and a bloated orderbook limit any rate recovery. But the timing of any market upturn will be heavily influenced by the level of scrapping, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. The ongoing overcapacity in the tanker market is expected to persist further in 2017 because of a sharp increase in deliveries.
ABS Addresses Marine and Offshore Industry Challenges
ABS held its annual Marine and Offshore Technical Committee Meetings in Houston in early May and addressed industry challenges and sharpen focus on future needs. “Collaborating with significant and recognized industry leaders representing ship owners, yards, operators, equipment manufacturers and vendors helps guide our research and development focus,” said ABS Chief Technology Officer Howard Fireman.
Five Power Defence Drill in International Waters
Australia, Malaysia, Singapore, New Zealand and the United Kingdom have completed Five Power Defence Arrangements exercise in international waters, off the coast of Malaysia as part of the longest standing multilateral arrangement in South East Asia. Acting Chief of Joint Operations, Major General Stuart Smith, said Exercise BERSAMA SHIELD was an important opportunity for the Australian Defence Force to strengthen cooperation with other nations.
Xodus, Green Marine Partner on Offshore Renewables
Xodus Group and Green Marine are partnering to provide an integrated service for the maintenance of offshore renewable assets. The partners will utilise Xodus’ integrity management software XAMIN to capture and monitor live data from offshore marine assets, while Green Marine will offer physical offshore inspection and repair services. The one-stop solution aims to streamline an asset’s performance…
New Ship Building Orders for Korean Yards
South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data. The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders, respectively. Japanese shipyard orders came to nil. In terms of numbers, Korean shipyards clinched new orders to build 12 ships. South…