Firmer MidEast, WAfrica Sentiment Supports VLCC Rates
Middle East rates helped by fewer old vessels; about 96 MidEast cargoes fixed, 25 to come. Freight rates for very large crude carriers (VLCCs) could rise next week on firm sentiment in the Middle East and West Africa markets but higher oil prices and fewer floating storage opportunities could cap increases, brokers said on Friday. "Middle East rates to the east have crept up one or two points (on the Worldscale measure)," said Ashok Sharma, managing director of BRS Baxi in Singapore.
China Opposes U.S. South China Sea Overflights
China opposes the use of freedom of overflight as an excuse to harm its security, the country's foreign ministry said on Friday, after two U.S bombers flew over the disputed South China Sea.
Maersk: Too Early to Predict Financial Impact of Cyber Attack
Asia CEO said ports have resumed releasing cargo; will discuss settlement, liability issues with customers. Maersk said it was too early to predict the financial impact of last month's global Petya cyber attack that hit the shipping giant's computers and delayed cargoes, but added that normal operations had resumed at its ports. A.P. Moller-Maersk, Danish owner of the world's biggest container shipping line…
Tanker Runs Aground near Skamokawa, Wash.
A 557-foot tanker Argent Cosmos lost use of a fuel pump and ran aground near Skamokawa, Wash. at 6:28 a.m. Thursday while heading outbound on the Columbia River following a port call in Longview, Wash. The Panamanian-flagged tanker is loaded with 1.63 million gallons of ethanol and 6.65 million gallons of monoethylene glycol. It also has 458,074 gallons of high-sulfur oil and 99,064 gallons of low-sulfur oil aboard.
Erling Sande Named Cox Powertrain's Norwegian Distributor
Cox Powertrain has announced its first European distributor appointment as Drammen, Norway based Erling Sande AS. The marine power specialist has signed an agreement to become Cox Powertrain’s sole Norwegian distributor and in doing so will play a prominent role in driving Norwegian sales of Cox Powertrain’s revolutionary marine diesel outboard engine, the CXO300, which will be launched in the second half of 2018.
Weaker Capesize Rates Pull Baltic Index Down
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday as rates for capesize vessels slid. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 7 points, or 0.84 percent, at 822 points. The capesize index lost 65 points, or 7.95 percent, at 753 points, touching its lowest level since Feb. 17.
Norfolk Naval Shipyard Adds New Pipe Bending Machine
Capturing complex bends on pipes is an art form members of the Norfolk Naval Shipyard (NNSY) Pipe Group have harnessed for many years. Now entering a more modern…
Monjasa Reports Panama Canal Supply Growth
Physical bunker supplier Monjasa has been active in the Panama Canal since 2011 and established a physical presence for operations and bunker trading in Panama City in 2015.
Conrad Shipyard Founder Parker Conrad Passed Away
John Parker Conrad, Sr., founder of Conrad Shipyard, died peacefully on July 6 surrounded by family and friends at his home in Morgan City, La. He was 101 years old. A shipbuilding pioneer and a legend along the Gulf of Mexico coast and beyond, Parker founded Conrad Industries in 1948. Conrad now has five shipyards along the Louisiana-Texas coast. From age 12 to age 17, Parker trained as a Christian Brother, which formed in him a deeply rooted and lifelong commitment to others.
Fincantieri Building Third Vista Class Ship for Carnival
The steel cutting ceremony of the third Vista class cruise ship, which Fincantieri is building for Carnival Cruise Line, a brand under Carnival Corporation & plc, took place at Fincantieri’s shipyard in Marghera. The newbuild, scheduled to be delivered in autumn 2019, will be a sister ship of Carnival Vista, delivered in Monfalcone in April, 2016, as well as of Carnival Horizon, also currently under construction at the shipyard in Marghera with delivery scheduled at the beginning of 2018.
TVIB Issues Its First TSMS Certificate to Crounse
On June 23, 2017, Towing Vessel Inspection Bureau (TVIB) issued its first Towing Safety Management System (TSMS) certificate to Crounse Corporation, who successfully…
Aqualis Lands Audit Work for LNG Carrier
Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, said it has been contracted by Hyundai Samho Heavy Industries Co.
Low-Carbon Shipping Alliance Gains Momentum
Days after the announcement by International Maritime Organization (IMO) of the Global Industry Alliance (GIA), another commercial company has joined the initiative to help shipping and related industries transition towards a low-carbon future. The Grimaldi Group, a global shipping and logistics company, has become the 14th company to join the GIA, a public-private partnership initiative in which 'industry…
Pilbara Ports Breaks Cargo Handling Record
Pilbara Ports Authority (PPA) has delivered a record annual throughput of 668.5 million tonnes (Mt) for the 2016/17 financial year. This is an increase of 35Mt or 6% from last year’s annual throughput. In June 2017, PPA achieved a total monthly throughput of 55.8Mt, a slight decrease of 53,000 tonnes from the previous year. The Port of Port Hedland achieved a record annual throughput of 500.9Mt, an increase of 40.5Mt or 9% from the previous year.
Nakilat Takes LNG Carrier In-House
Qatar Gas Transport Company (Nakilat) has assumed full ship management and operations of Q-Flex LNG carrier Al Sheehaniya from STASCo (Shell Trading and Shipping Company) with effect from 6 July 2017, as part of the planned and phased transition announced on 19th October 2016. With a cargo carrying capacity of 210,200 cubic meters, Al Sheehaniya is wholly-owned by Nakilat and chartered by Qatargas.
Thailand Accedes to Conventions Covering Oil Pollution Damage
Thailand has become the latest State to accede to the international conventions on Civil Liability for Oil Pollution Damage (CLC) and the Establishment of an International Fund for Compensation for Oil Pollution Damage (Fund). The CLC Convention ensures that compensation is available to people who suffer oil pollution damage from maritime casualties involving oil-carrying ships, and places liability on the owner of the ship from which the polluting oil escaped or was discharged.
Ban Heavy Fuel Oil in the Arctic: WWF-Canada
International Maritime Organization (IMO) has agreed to take steps that could lead to a phase-out of the use of heavy fuel oil (HFO) in Arctic shipping following an appeal from the Government of Canada, Indigenous participants and testimony from WWF-Canada. During a week-long meeting at IMO headquarters in London, WWF highlighted recent reports outlining major gaps in spill response capacity in the Arctic.
Maritime Drives Ireland's Blue Economy
Ireland’s marine economy is outperforming Ireland’s general economy according to the latest Ocean Economy Report by the Socio-Economic Marine Research Unit (SEMRU) of NUI Galway, with shipping and maritime transport playing a key role in driving growth. The report was launched by Michael Creed TD, Minister for Agriculture, Food and the Marine at the Our Ocean Wealth Summit event as part of SeaFest in NUI Galway in recent days.