Diana Shipping in Time Charter Contract for Clio with Phaethon
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Clio. The gross charter rate is US$8,550 per day, minus a 5% commission paid to third parties, for a period of minimum 13 months to maximum 16 months. The charter is expected to commence on July 3, 2017. The “Clio” is a 73,691 dwt Panamax dry bulk vessel built in 2005.
India's LNG Market to Reach USD 30.7bln by 2025
India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR of 5.06% between 2016 and 2025. According to a report by Research and Markets, natural gas including Regasified Liquefied Natural Gas (R-LNG) in India has been widely recognized as the fuel with multiple promising aspects. The present situation of the gas sector in India is going through multiple challenging phase.
Global Ports Sector Faces Structurally Slower Growth, Says Fitch
Traffic growth in the ports sector is likely to remain well below historical levels for the foreseeable future, due to fundamental structural changes in the industry and global trade, Fitch Ratings says. A move towards protectionism would represent a significant additional risk, with the potential to reverse sector growth. Global port traffic growth has slowed in recent years due to a mix of mostly structural factors…
IMO Project Seeks Maritime Technology Participants
The GMN maritime technology project, run by International Maritime Organization (IMO) and funded by the European Union, has issued a call for expressions of interest from individuals within specified organizations to become members of the GMN Project’s Global Stakeholder Committee (GSC). The GMN project has established a network of five regional Maritime Technologies Cooperation Centres (MTCCs). Together…
Madrid Maersk Call at Antwerp Port Sets New Record
The Madrid Maersk, the largest container carrier ever to call at the port of Antwerp, moored in the Deurganck dock on 9 June. This record-breaking ship with a capacity of 20,568 TEU unloaded 3,000 containers and loaded another 4,000 in the port of Antwerp in just 48 hours, thus setting a new milestone in the history of the port. Check out the video clip here to experience the atmosphere of the event and how we all welcomed this giant of the seas.
Shipping Industry Submits Ambitious CO2 Reduction
Four major international trade associations – BIMCO, INTERCARGO, International Chamber of Shipping (ICS) and INTERTANKO – have made a joint proposal to the IMO concerning ambitious CO2 reductions by the international shipping sector, which is responsible for transporting about 90% of global trade and 2.2% of the world’s annual man-made CO2 emissions. The IMO Marine Environment Protection Committee…
Vane Brothers’ New Tug Christened
The newest Vane Brothers tugboat, the New York, was christened during a brief ceremony June 12 at St. The New York is the sixth of eight 4,200-horsepower, model-bow tugs contracted through St. Johns by Vane Brothers. Headquartered in Baltimore, Vane Brothers also conducts operations from a facility in Brooklyn and other locations along the U.S. East Coast. More than 50 Vane Brothers tugboats are primarily tasked with towing petroleum barges engaged in the North Atlantic coastwise trade.
Aircraft Carrier John F. Kennedy Half Complete
U.S. shipbuilder Huntington Ingalls Industries (HII) said the structure of nuclear-powered aircraft carrier John F. Kennedy (CVN 79) is now 50 percent complete. The second Gerald R. Ford-class aircraft carrier CVN 79 grew about 70 feet in length with the addition of the lower stern, which was recently lifted into place at HII’s Newport News Shipbuilding division. Like Ford, which was delivered to the Navy earlier this month…
SHIPS Act: 355 Ship Navy Gets Legislative Mandate
The push to rebuild the U.S. Navy received a boost today when U.S. Senator Roger Wicker, R-Miss., and Congressman Rob Wittman, R-Va., introduced bicameral, bipartisan legislation that would make it the policy of the United States to achieve the Navy’s requirement of 355 ships. Under the “Securing the Homeland by Increasing our Power on the Seas (SHIPS) Act,” the fleet would be comprised of the optimal mix of platforms, with funding levels subject to annual appropriations.
Faststream Opens New Global Headquarters
Faststream Recruitment founder and CEO Mark Charman launched the group’s new global headquarters in Southampton alongside Guy Patten, CEO of the U.K. Chamber of Shipping, at an official unveiling event on June 21. Faststream was established in Southampton in 1999, having gone on to launch further international offices in North America and Asia, with its Southampton office remaining as its global headquarters and housing more than 70 of its 100 worldwide staff.
North River Boats: Delivering Flexibility & Customized Output
Diversification is the key at Oregon-based North River Boats. Listening closely to the customer’s needs recently won the day on a multi-hull U.S. Navy contract, but that’s not all that’s happening in Oregon. Roseburg, Ore.-based North River Boats has, over time, thrived by delivering one of the most diverse vessel portfolios in North America. Those offerings include both domestic and foreign deliveries, as well as recreational, commercial and military hulls.
Schwarze-Robitec Expands in USA
The tube bending machine manufacturer Schwarze-Robitec is expanding its branch office in the USA. The North American service and distribution team moves to Grand Rapids. Mich. In addition to its new premises, Schwarze-Robitec operates a spare parts warehouse for its high-quality bending machines. Customers in the U.S., Canada and Mexico benefit now from faster delivery times as well as first-class services.
Navico Acquires Naviop
Marine electronics manufacturer Navico, parent company to the Lowrance, Simrad and B&G brands, announced it has finalized an agreement to acquire marine monitoring and control systems provider Naviop.
Corvus Secures $4.9 Mln Credit Facility
Export Development Canada (EDC) has announced the closing of a CAD$6.5 million (US$4.9 million) contract financing credit facility for Corvus Energy Inc., a Richmond…
Marine News Boat of the Month: June 2017
The Elastec Inlander river utility boat (RUB) is a unique concept. But, Elastec already manufactures many other response and utility craft for this market. What prompted the internal effort to create such a craft was that while on oil spill deployments with customers, Elastec personnel began to notice quite a few response organizations using “reconfigured” recreational watercraft (fishing boats) to perform tasks.
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The August 2017 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators, workboat builders and repairers, and product and service providers. Is your firm a top 100 workboat, brown water or inland enterprise? Participation is free, but to be considered you must apply before July 3 at http://mn100.maritimemagazine.com/ Contact Joe Keefe with questions at: firstname.lastname@example.org
Crowley Names Michel VP, Human Resources and Learning
Crowley Maritime Corp. has appointed Susan “Suz” Michel as vice president of human resources and learning, bringing all aspects of human capital management under her leadership – from talent acquisition to training and professional development to long-term employee retention. Michel joined Crowley in 2004 and most recently served as vice president of organizational development and change leadership.
Statoil, AET Expand Shuttle Tankers Contract
Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil.
Baltic Index Snaps Six-day Losing Streak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday to snap a six-day streak of losses, boosted by higher demand for panamax and smaller vessels. The overall index, which considers rates for capesize, panamax, supramax and handysize shipping vessels, climbed 11 points, or 1.3 percent, to 855 points. The capesize index shed 27 points, or 2.65 percent, to end at 993 points, its lowest level since Feb. 22.
Shipping Firms Pay $1.9 Mln for Pollution Cover-up
Two shipping companies based in Egypt and Singapore will pay $1.9 million in penalties after pleading guilty in federal court to violating the Act to Prevent Pollution…