Concordia Charters Out P-MAX Tanker
Concordia Maritime said it has signed a contract to charter out the P-MAX tanker Stena Paris to “one of the world’s largest oil and gas companies.” The contract is for one year…
Aspin Kemp, MAN Diesel & Turbo Finalize Partnership
Canadian engineering firm Aspin Kemp and Associates Inc. (AKA) and German based engine and turbomachinery market leader MAN Diesel & Turbo SE have finalized an agreement between the two companies whereby MAN Diesel & Turbo steps in as a 40 percent shareholder in AKA. Through this new partnership, AKA said it will look to build its innovative potential with MAN in a broader market for power and energy solutions. Company co-founder Jason Aspin remains a controlling shareholder and CEO of AKA.
Cargo Ship Runs Aground off Virginia
The U.S. Coast Guard said it is monitoring a 586-foot Thai-flagged cargo vessel that ran aground off Sewells Point in Norfolk, Via., Thursday. Watchstanders at the…
India's Largest Container Port Trying to Recover from Cyber Attack
The National Cyber Security Coordinator Dr Gulshan Rai visited Jawaharlal Nehru Port Trust (JNPT) to assess the impact of the global cyber attack that has disrupted the operations of one of the container terminals at the port. He, together with Chief Commissioner Customs and Excise, Chairman-JNPT and Inspector General-Cyber Maharashtra held discussions with the officials of GTI Terminal, DP World and officials of JNPT. JNPT handles container traffic through four terminals.
New Global Industry Alliance Established to Support Low Carbon Shipping
Leading shipowners and operators, classification societies, engine and technology builders and suppliers, big data providers, and oil companies have signed up to a new Global Industry Alliance (GIA) to support transitioning shipping and its related industries towards a low carbon future. Thirteen companies have signed up to launch the GIA, under the auspices of the GloMEEP Project, a Global Environment…
MOL Bags Yamal LNG Charter Contract for Four Ships
Mitsui O.S.K. Lines (MOL) announced it has signed a long-term charter contract for four liquefied natural gas (LNG) carriers with the tank capacity of 174,000m3, which will be delivered and serve on Yamal LNG project in 2019 and 2020 onward, through a wholly-owned subsidiary of MOL. The four contracted carriers will serve as a transport of LNG transshipped by the project from Europe. MOL did not provide any additional information on the vessels.
HMM Meets Vietnamese Delegation
On June 29, Vice Minister of Transport in Vietnam, Nguyen Van Cong accompanied by delegates from Vietnam Maritime Administration (VMA) and Vietnam National Shipping Lines (Vinalines) visited Hyundai Merchant Marine(HMM). The delegates arrived Korea on 26th at the invitation of Busan Port Authority (BPA). HMM CEO, Yoo Chang-Keun and executives have attended the meeting, discussing various cooperative methods for port business in Vietnam.
KOTC, GAC Fujairah in Husbandry Contract
GAC Fujairah has been awarded a husbandry contract by the Kuwait Oil Tanker Company (KOTC) to provide ship supply services, spare parts handling and a range of other logistical services to its vessels arriving in Fujairah, Khor Fakkan and Singapore anchorage. As part of global shipping, logistics and marine services provider GAC Group, GAC Fujairah worked in close cooperation with the Middle East Regional Office in Dubai and GAC Singapore to secure the deal.
BWM Should Not Distort the Market: Intercargo
In view of the International Maritime Organisation’s (IMO) Marine Environment Protection Committee upcoming meeting (MEPC 71 during 3-7 July 2017), Intercargo re-iterates its welcoming the entry into force of the Ballast Water Management (BWM) Convention in September. Aspiring to the Convention’s effective implementation, our Association will be making MEPC 71 Committee aware of the critical challenges faced by the bulk carrier segment of the industry.
Subsea 7 Acquires EMAS Chiyoda Subsea Assets
Subsea 7 S.A. said it has acquires certain businesses of EMAS Chiyoda Subsea (ECS) under a U.S. bankruptcy code Chapter 11 Plan of Reorganization, confirmed by the U.S. Bankruptcy Court for the Southern District of Texas and became effective on June 29, 2017. According to Subsea 7, it will pay less than $100 million in aggregate, including its contribution to the Debtor in Possession credit facility, to acquire the ECS businesses, the Ingleside spoolbase and other assets.
International Seaways Acquires Two Suezmax Tankers
International Seaways announced it has entered into an agreement to acquire two Suezmax tanker newbuildings constructed at Hyundai Samho Heavy Industries shipyard. The vessels are expected to deliver to the Company by the end of July 2017. The transaction remains subject to customary closing conditions. International Seaways intends to fund the vessel acquisitions from available liquidity. Following the delivery of these two vessels…
Asia Tankers-VLCC Rates Flat as Old and New Ships Compete
MidEast-Asia rates likely to remain flat until August; paper derivative trades show no uptick until October. Freight rates for very large crude carriers (VLCCs) are likely to remain flat next week, a situation that could well last until August, brokers said on Friday. "Rates are stuck. I don't see there being any hope for July cargoes. Similar rate levels are probably here for August cargoes," a Singapore-based supertanker broker said on Friday.
Maersk: Most Ports at Normal Ops After Cyber Attack
Maersk Line sees "great progress" in the restoration of its infrastructure after it was hit by a cyber attack this week, it said in an update to customers on Friday. * "We are open for business and are accepting bookings," Maersk Line, A.
Asia Demand for U.S., Atlantic Basin Crude Oil Jumps
Japan refiners book US crude cargoes for Sept delivery. Asian demand for crude oil from the Atlantic Basin and the Americas is set to rise as low prices drive Japanese and South Korean buyers to snap up cargoes to arrive ahead of peak winter consumption. Robust appetite from the region could help soak up excess supplies in Europe and the United States, offering some support to benchmark global prices that plumbed 10-month lows last week.
Japan Investigators Unlikely to be Granted Access to Fitzgerald Crew
The United States will likely bar Japanese investigators from interviewing USS Fitzgerald crew manning the guided missile destroyer when it was struck by a cargo ship in Japanese waters killing seven American sailors, a U.S. navy official said. The Philippines-flagged container ship ACX Crystal and the U.S. warship collided at night just south of Tokyo Bay on June 17. The U.S. deaths were the greatest loss of life on a U.S.
LNG Price Row between GAIL, Cheniere Looms
India's biggest importer of U.S. liquefied natural gas (LNG) is trying to re-negotiate prices with the U.S. seller, sources said, undermining plans by U.S. President Donald Trump to export more gas to the fast-growing Asian nation. At a joint news conference with Indian Prime Minister Narendra Modi at the White House this week, Trump said the United States looked forward to exporting more energy, including new major long-term contracts to purchase American natural gas.
Lower Rates for Large Vessels Weighs on Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped for the second straight session on Friday on weak rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 19 points, or 2.07 percent, to 901 points. The capesize index was down 60 points, or 5.24 percent, at 1,086 points.
Eastern Delivers Fourth Towboat to IWL River
Eastern Shipbuilding Group, Inc. said it has delivered the last of four newly built inland river towboats to IWL River, Inc., one of the builder’s newest clients. The four new towboats – Impala Soledad, Impala Salgar, Impala Mompox and Impala Cantagallo – will service the inland waterways of Latin America for Impala Terminals. Impala owns and operates a network of terminals that facilitate global trade flows…
d’Amico's Entire Fleet is MRV Compliant
RINA Services has verified that the entire fleet of the d’Amico Group has met the Monitoring, Reporting and Verification of CO2 emissions Regulation (MRV) requirements according to EU 2015/757 Regulation. The fleet comprises 36 vessels which are managed by d’Amico Società di Navigazione and 35 vessels managed by its subsidiary Ishima Pte. Ltd. This new regulation was developed in response to the challenge of reducing greenhouse gases in European territories to the 2050 targets set by EU.
Rolls-Royce to Design, Equip HB Grandi's New Trawler
Rolls-Royce informs it has won a contract to design and equip a new Rolls-Royce NVC 375 WP stern trawler for Icelandic fishing company HB Grandi. The 82 meter vessel will process various filet products and has a freezing capacity of 100 metric tons/ 24 hours. It has an approximately 1,600 m3 cargo hold capacity with an additional approximately 700 m3 meal hold. The holds are constructed for palletized cargo. The trawler has a fuel-efficient Wave Piercing hull.