Weaker Vessel Rates Weigh on Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the seventh session on Tuesday, weighed down by falling rates for most vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell to its lowest since early March. The index was down 5 points, or 0.52 percent, at 949 points. The panamax index was down four points, or 0.47 percent, at 850 points.
Coldharbour, Hansun Ink China Distribution Deal
Coldharbour Marine, developer of a unique in-tank, in-voyage and inert gas-based ballast water treatment system for large tankers, bulkers and LNG vessels, has signed an agreement with Hansun (Shanghai) Marine Technology Co Ltd covering the marketing and distribution of Coldharbour products in mainland China. The contract, finalized at a recent ceremony in Shanghai, is part of the companies’ joint…
ABS Mobile App Simplifies Subchapter M Compliance
NS Workboat, a new mobile application from ABS Nautical Systems (NS) purpose-built for the workboat/inland sector, aims to streamline onboard tasks for Subchapter M compliance. “This app answers the growing demand for easy-to-use point solutions – a need that is particularly pronounced in the workboat sector, where many companies have little to no IT support on their boats,” said ABS Nautical Systems Vice President and Chief Operating Officer Stephen Schwarz.
Cannon Tapped to Lead FLIR Systems
FLIR Systems, Inc. has appointed James J. “Jim” Cannon as its new president and chief executive officer, effective June 19, 2017, succeeding Andy Teich, who will retire after 33 years of service. Cannon previously served for more than 16 years in a variety of senior leadership positions at Stanley Black & Decker, Inc., most recently as president of Stanley Security North America & Emerging Markets.
Gnostech President Takes Controlling Ownership
Current president of Gnostech Inc., James Espino, has acquired the controlling ownership of the company from Braxton Science & Technology Group (BSTG) on May 19, 2017. As the president and controlling owner of Gnostech, Espino will lead the company into the future. “This is an exciting time for Gnostech. We can pursue new and emerging government contracting opportunities that leverage our diverse range of capabilities,” he said.
Odfjell Buys Secondhand Chemical Tanker
Oslo listed shipping firm Odfjell SE said it has purchased a secondhand stainless steel chemical tanker for $25.5 million. The M/T Argent Eyebright, built in 2009 by Kitanihon Shipbuilding in Japan…
Should OPEC Worry About Contango and Backwardation?
"Backwardation is the solution" to OPEC's problem of how to raise output and revenues without sparking another shale boom, according to the influential oil research team at Goldman Sachs.
McDonough Launches M 2820 Barge
McDonough Marine Service has launched its latest barge design series at the Westport Orange Shipyard in Orange, Texas. The M 2820 (282’L x 54’W x 12’6”H, with 3,000 lbs/sq.ft. deck load rating) was delivered on-schedule, and is expected to bring greater possibilities to Project Cargo transportation on the inland waterways. “As growth continues to develop in the infrastructure, petrochemical and power generation markets…
Somali Pirates Hijack Iranian Fishing Vessel
Somali pirates hijacked an Iranian fishing vessel on Tuesday to use as a base to attack bigger, more valuable ships, the mayor of a Somali town said, part of an…
Fleet Performance Management is No Quick Win
Fleet Performance Management (FPM) can drive efficiency improvements of up to 38 percent, but many ship owners and operators are finding that FPM is costing, rather than saving them money. The expectation that once you plug and play an FPM system the savings will be immediate, has set a precedent that in real terms, is simply unachievable. Peter Mantel, Managing Director of BMT SMART, a subsidiary of BMT Group…
NYC's New Ferries Take to the Water
The first vessel in the new NYC Ferry’s fleet has been christened Lunch Box, following a naming competition held amongst New York school students. Lunch Box, which has already been followed by a subsequent pair of vessel in New York, is the first vessel in a fleet of 26m catamaran ferries commissioned by Hornblower Cruises to form NYC Ferries, a government initiative to bring an affordable, city-wide ferry network to the Big Apple.
Towing Vessel Runs Aground in Louisiana
An uninspected towing vessel taking on water has run aground in Louisiana’s Calcasieu Ship Channel, early Monday morning. At 3:45 a.m., the three-man crew aboard the 60-foot towing vessel Mr. Landon intentionally ran the vessel aground near Monkey Island to avoid sinking when they realized they were taking on water in the stern. No injuries were reported. Approximately 10 gallons of oil was spilled as a result of the incident. Clean up efforts were coordinated by U.S.
CMA CGM, Hamburg Sud Launch Americas Service
French container shipping company CMA CGM announced the launch of its new service between the west coast of the United States, Central America and South America, to be operated in collaboration with the German shipping company Hamburg Sud. Starting May 24, CMA CGM will offer a weekly service with coverage to/from the west coast of the United States, Central America and South America, enabling the agri-food industry in Central and South America to export to North American markets.
Italian Maritime Robotics Expert Bags DNV GL Award
Marco Bibuli was announced as the winner of the DNV GL COMPIT Award 2017 for smart underwater robotics, which took place in Cardiff this year. The Italian maritime robotics expert, working at the Italian research center CNR-ISSIA in Genova, was honored for his work on team-capable smart robots. “The jury singled out Marco Bibuli, because his work brought advanced techniques of Artificial Intelligence to practical applications, representing innovative engineering at its finest.
MOL to Build Japan's First LNG-Fueled Tugboat
Mitsui O.S.K. Lines (MOL) has announced the company's decision to build an LNG-fueled tugboat. The new tugboat, the first LNG-fueled tug in Japan, will conform to the IGF code issued in January of this year and is subject to be examined by Japan's Ministry of Land, Infrastructure, Transport and Tourism. MOL will own the tugboat, slated for construction at Kanagawa Dockyard. Yanmar Co will supply LNG-fueled engines. Osaka Gas will supply LNG fuel to the tugboat.
ICS on CO2 Reduction Objectives
Members of the International Chamber of Shipping (ICS), including the UK Chamber, met last week in Istanbul, where they agreed to set new objectives in reducing carbon dioxide (CO2) emissions from shipping. To reduce international shipping’s total annual CO2 emissions by an agreed percentage by 2050, compared to 2008, as a point on a continuing trajectory of CO2 emissions reduction. The objectives aim to match the ambition of the Paris Agreement on climate change…
Scorpio Tankers Merges with Navig8 Product Tankers
Scorpio Tankers has entered into definitive agreements to merge with Navig8 Product Tankers and acquire Navig8’s 27 operating product tankers. Subject to the terms and conditions of these agreements, Scorpio will acquire four LR1 tankers prior to the closing of the Merger (the LR1 Vessel Acquisitions) and the remaining 23 tankers upon the closing of the merger in exchange for the issuance of 55 million shares of Scorpio common stock to the Navig8 shareholders.
IBIA Backs ICS, IMO Proposals on CO2 Emissions
Pressure is growing on the International Maritime Organization (IMO) to deliver specific commitments to reducing greenhouse gas emissions. A proposal from the International Chamber of Shipping (ICS) and other shipping organisations offers a possible way forward. International Bunker Industry Association (IBIA) explains what’s going on. IBIA believes in finding pragmatic and practical solutions to pursuing policy aims at the IMO…
GE Completes HAZID Meetings for World’s First LPG-Fueled Ferry
GE’s Marine Solutions reports that the world’s first Liquid Propane Gas (LPG)-fueled ferry design to use GE’s COmbined Gas turbine Electric and Steam (COGES) system has successfully completed Hazard Identification (HAZID) meetings. The consortium of Youngsung Global, DINTEC, Korea LPG Industry Association, GE’s Marine Solutions and Far East Ship Design & Engineering Co. (FESDEC) signed a multilateral memorandum of understanding in November 2016 to cooperate on this unique ferry design.
Skangas Names LNG Bunker Supply Ship Coralius
Coralius, the first European built LNG bunker and distribution vessel was named Monday, May 22, by Johanna Lamminen, Chair of the Board of Skangas and Chief Executive Officer of Gasum. The 5,800 cbm vessel was commissioned by owners Anthony Veder and Sirius Shipping in 2015 and was built by Royal Bodewes. This new vessel will offer LNG bunkering services for Skangas, a subsidiary of Gasum, mainly operating in the North Sea, the Skagerak area and the Baltic Sea.