Oil at 10-month Low after Biggest First Half Slide in 20 Years
Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing U.S. production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut. U.S. crude futures settled at $42.53, down 98 cents or 2.3 percent, after touching a low of $42.13, the lowest intraday level since August 2016. Since peaking in late February, crude has dropped more than 20 percent, with only brief rallies.
Golar, Delfin to Jointly Develop US FLNG Project
A joint development agreement between Delfin Midstream and Golar LNG Limited will see the two jointly develop the Delfin LNG project off the coast of Cameron Parish, La.
US-flag Great Lakes Shipping Steady in May
U.S.-flag Great Lakes freighters (lakers) moved 9.5 million tons of cargo in May, a virtual repeat of a year ago, the Lake Carriers’ Association (LCA) reported. The float totaled 9,496,663 tons this May and 9,473,709 tons a year ago. This May’s shipments were, however, down 5 percent from the month’s long-term average. Iron ore cargos for steelmakers totaled 4.9 million tons, an increase of 4 percent compared to a year ago. Coal loadings were little changed in May.
Looking Beyond Maritime Security
Economic stability and sustainable development can be driven by an integrated approach to the maritime sector, including ports, maritime security and facilitation of maritime traffic. Joined-up government policies covering the whole of the maritime sector are critical for the port sector to flourish. These were among key messages delivered by International Maritime Organization (IMO)'s Chris Trelawny…
DNV GL, Goldwind in Wind Power Pact
Goldwind International and DNV GL has signed a Memorandum of Understanding (MoU) for optimizing offshore and onshore wind projects. DNV GL to be preferred independent third-party advisor for performance optimization of offshore and onshore wind projects. DNV GL, the world’s largest resource of independent energy experts and certification body, said in a statement that it has signed MoU with Goldwind…
Kenya Maritime Technology Centre Holds First Workshop
The newly established GMN project on maritime technology cooperation, run by IMO and funded by the European Union, has held its first ever national workshop in Mombasa, Kenya (19-20 June). The event brought together 67 participants to discuss ways to bring shipping into a low carbon future. The GMN maritime technology project, run by IMO and funded by the European Union, has issued a call for expressions…
AUSINDEX Strengthens Ties Between Aus, Indian Navies
HMAS Newcastle’s capabilities proved invaluable during a complex warfare scenario involving Indian Navy Ships Shivalik and Kamorta during the Australia-India Exercise (AUSINDEX) held off the Western Australian coast. The ships headed out to sea, after a short harbour phase, to focus on the navies’ interoperability and improvement on their war fighting skills. Speaking from the bridge of Newcastle,…
BIMCO Updates SUPPLYTIME for Offshore Charters
Now in its fourth edition, BIMCO’s best-selling contract has been updated to reflect contemporary shipping practice and legal developments in the offshore sector. It has a purer knock for knock liability regime and is more neutrally balanced than its predecessor. The first edition of SUPPLYTIME appeared in 1975. It was developed to meet the demand for specialist support vessels to serve a rapidly growing offshore oil and gas exploration and production industry.
12 Flags on Paris MOU Black List for 2016
At its 50th meeting last month, the Paris MoU Committee approved the 2016 inspection results and adopted new performance lists for flags and Recognized Organizations. These lists will take effect from 1 July 2017. The “White, Grey and Black (WGB) List” presents the full spectrum, from quality flags to flags with a poor performance that are considered high or very high risk. It is based on the total…
Hamburg Süd Ugrades for Pharmaceutical Reefer Market
The transportation of pharmaceutical products in reefer equipment is subject to the particularly strict guidelines of the Good Distribution Practice (GDP) scheme. Hamburg Süd will be meeting the requirements with regard to calibration processes as of July and therefore be able to respond flexibly to corresponding customer wishes. The guidelines for GDP are specified by the World Health Organization as well as the European Commission.
Volvo Ocean Race Yacht Team AkzoNobel Christened
Sailing fans flocked to a harbor in the Dutch city of The Hague yesterday to welcome team AkzoNobel’s new Volvo Ocean Race yacht, which was officially christened by the city’s Mayor. With the start of the race just four months away, skipper Simeon Tienpont and his crew arrived in the Netherlands from Lisbon to a rapturous welcome, when dignitaries and supporters caught their first glimpse of the newly built boat.
Cindy to Weaken this Morning - NHC
Tropical storm Cindy is expected to weaken while moving farther inland and become a tropical depression later Thursday morning, the U.S. National Hurricane Center (NHC) said in its latest advisory.
SBM Offshore Awarded Liza FPSO Contract
SBM Offshore said it has secured contracts from ExxonMobil to construct, install, lease and operate a floating production, storage and offloading vessel (FPSO) for…
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…
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.
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.
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.
Apply Now for the MN100
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: keefe@marinelink.com
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.
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…
