Dry Bulk, Tanker Newbuilds on the Rise -BIMCO
Tanker and dry bulk vessel newbuild contracts have been signed at an increasing pace so far in 2017, with newbuild activity for the first half of 2017 surpassing the same period last year by 20 percent. According to BIMCO, 5.9 million DWT was contracted in May 2017 and 3.1 million DWT so far in June 2017, which brings the total amount of newbuild orders up to 19.6 million DWT for 2017. So far for June 2017, 22 tankers have been contracted amounting to a total of 2.6 million DWT.
Baltic Index Rises as Key Vessel Rates Firm
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on higher vessel rates across the industry. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 14 points, or 1.61 percent, at 884 points. The capesize index gained 18 points, or 1.82 percent, at 1,005 points. Capesize dry bulkers have gained some momentum to start the week with average earnings ticking up about $8…
Search Continues after Colombia Tourist Boat Accident
Rescue workers searched on Monday for 13 people believed to be missing after a tourist boat sank the previous day in a reservoir in north-central Colombia, killing seven.
Hurricane Dora Forms Off Mexico's Pacific Coast
Hurricane Dora formed off the western coast of Mexico in the Pacific Ocean on Monday, but it was expected to slow and remain offshore, the U.S. National Hurricane Center (NHC) said. Dora, the first hurricane to form in the Pacific so far this year, was carrying maximum sustained winds of about 80 miles per hour (130 km per hour) as it whirled about 170 miles (275 km) south-southwest of the port of Manzanillo, the center said.
CMV's Columbus Prepped for Summer Cruising
Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion, said it has completed maintenance and repair works on the newest member of CMV’s fleet, the cruise ship Columbus. The full work scope was concluded within a tight timescale, thus ensuring that the vessel could sail to the London Cruise Terminal in Tilbury, U.K. in time for her naming ceremony and inaugural cruise. Several CMV vessels – the Astor…
USS Fitzgerald Collision Tracked with AIS Data
In the early hours of June 17, U.S. destroyer the USS Fitzgerald was hit by a containership just off the coast of Shimoda, Japan. The collision claimed the lives of seven U.S. Navy Sailors. In the aftermath, both sides are trying to figure out exactly what happened. The containership, ACX Crystal, and the U.S. Navy initially reported the incident at 2:25 a.m. local time. However, they have since revised the time to 1:30 a.m. Apparently, the ACX Crystal made a U-turn at around 2 a.m.
One Missing from Sunken Oil Tanker off Yemen
One mariner remains missing after 13 of 14 crewmembers were recovered from the sea following the sinking of their oil tanker in severe weather conditions 240 miles off the coast of Yemen.
Rolls-Royce & the Future Tech 'Reality'
Rolls-Royce. The words have been used by many to signify excellence – though not with the company’s permission, of course. Rolls-Royce Marine is taking a leading position in developing and introducing the systems and technologies needed for the running of a successful business in the maritime industry of the 21st century. At a company presentation held in London earlier this year, Mikael Mäkinen, President of Rolls-Royce Marine…
Fincantieri Marinette Marine Wins Industrial Security Award
U.S. shipbuilder Fincantieri Marinette Marine (FMM) informs it has received the 2017 Defense Security Service James S. Cogswell Outstanding Industrial Security Achievement Award. The Cogswell award, given by the Defense Security Service (DSS), a federal security agency of the U.S. Department of Defense, is awarded to less than 10 percent of more than 13,000 industrial firms annually. The criteria focuses on the principles of industrial security excellence…
HII Hires Davis to Lead Cyber Security Program
Ron A. Davis has joined Huntington Ingalls Industries (HII) as chief information systems officer (CISO). In this new role, he will lead the company’s cyber security program with responsibility for ensuring the early identification of threats and risks and the implementation of controls and other processes and methods to protect information systems for the entire HII enterprise. Davis will work in HII’s Washington…
US Warship Stayed on Collision Course despite Warning
A U.S. warship struck by a container vessel in Japanese waters failed to respond to warning signals or take evasive action before a collision that killed seven of its crew, according to a report of the incident by the Philippine cargo ship's captain. Multiple U.S. and Japanese investigations are under way into how the guided missile destroyer USS Fitzgerald and the much larger ACX Crystal container ship collided in clear weather south of Tokyo Bay in the early hours of June 17.
Glosten Designs Hybrid Ferry for Kitsap Transit
Seattle-based naval architecture and marine engineering consultancy Glosten said it has completed the design of a new passenger-only hybrid ferry for Kitsap Transit, a public transportation agency based in Bremerton, Wash. The new hybrid electric 150-passenger ferry will be the first in Puget Sound, and is expected to carry more than 350,000 passengers annually. The 70-foot-long aluminum hull catamaran will be constructed at Bellingham-based All American Marine.
Iridium Launches Latest 10 NEXT Satellites
Iridium has launched 10 of its Iridium NEXT satellites US aboard a SpaceX rocket launched from Vandenberg Air Force Base, California. This payload of 10 satellites was deployed into low-Earth orbit, approximately one hour after a SpaceX Falcon 9 rocket lifted off from Vandenberg, at 1:25pm PDT (20:25 UTC). With this launch complete, there are now 20 Iridium NEXT satellites in orbit, establishing the…
Multipurpose Shipping Looks Bullish
Many key drivers for dry cargo demand have reported a significant uptick in 2017, resulting in improving conditions for all vessels in the multipurpose shipping sector, according to the latest Multipurpose Shipping Market Review and Forecast report published by global shipping consultancy Drewry. This year started out well with most demand drivers for the breakbulk sector strengthening from the lowest levels seen in 2016 with the trend forecast to continue in the medium term at least.
JFPA Selects MOL Vessels for 2016 'Best Quality Ships Award'
Mitsui O.S.K. Lines (MOL) said that two MOL-operated and managed vessels - the wood chip carrier WORLD SWAN II and the containership MOL MAGNIFICENSE - were among seven selected to receive the 2016 "Best Quality Ships Award" from the Japan Federation of Pilots' Associations (JFPA). The awards, introduced in 2003, are aimed at heightening awareness of the need to protect harbors and the marine environment through safe operation of oceangoing vessels.
Aegean Marine Strengthens Presence on the U.S. East Coast
Aegean Marine Petroleum Network has announced the launch of a new service center in Savannah, Georgia, the third largest container port in the United States. The operations in Savannah will be managed by the existing Aegean U.S. team. Under the terms of the agreement with Colonial Terminals, Inc., Aegean will lease tankage from Colonial's oil terminal on the Savannah River. Aegean will acquire and blend a full range of bunker fuel products and has agreed to supply Colonial Oil Industries, Inc.
Korean Shipbuilding Parts Export to China Surge
China's imports of shipbuilding parts and equipment produced by South Korean firms surged this year, Yonhap reported. The report quoted Korea Trade-Investment Promotion Agency (KOTRA) saying that China's imports of South Korean shipbuilding parts and equipment reached US$28.3 million in the first four months of the year, sharply up 37.6 percent from a year earlier. During the cited period, China's overall purchase of such parts edged down 0.9 percent on-year to $71.5 million, the report said.
Cargotec Refinances EUR 300 mln Credit Facility
Cargotec Corporation entered into an EUR 300 million multicurrency revolving credit facility with a syndicate of its six relationship banks on 26th June. The facility carries a tenor of five years including two one-year extension options. The purpose of this facility is to refinance the existing EUR 300 million multicurrency revolving credit facility, maturing in January 2019. With this facility, Cargotec…
Expanded Panama Canal Celebrates First Anniversary
The Panama Canal commemorated the one-year anniversary of the inauguration of its Expanded Canal, one of the most significant milestones in the history of the 102-year old waterway and a defining moment for the people of Panama and the global maritime industry. In its first year of operations, the Expanded Panama Canal has continually set records and surpassed expectations, resulting in redrawn global trade routes and positive world-wide impact…
GeoSea Bags Offshore Wind Installation Work from EnBW
DEME Group’s offshore marine engineering subsidiary GeoSea said that, following successful completion of the design, it also received the Notice to Proceed for fabrication…