Qatar Seeks to Open New LNG Markets with Floating Terminals
Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its liquefied natural…
Two Frenchmen Investigated over 2002 Malaysia Submarines Deal
Two French former defence industry executives have been placed under preliminary investigation as part of a probe into the 2002 sale of submarines to Malaysia, an…
Russian Think Tank: Oil Exports to Decline in 2017
A think tank that advises the Russian government on taxes and energy-related issues said on Wednesday it expects the country's oil exports to fall this year thanks to a global deal to cut output, contrasting with official forecasts for a rise. Vygon Consulting said in a presentation to reporters that oil exports this year are seen declining by 0.7 percent to 252.5 million tonnes (5.1 million barrels per day) from around 255 million tonnes in 2016, a record high.
Baltic Index Gains for Seventh Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for seventh session in a row on Wednesday supported by stronger demand for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 16 points, or 1.72 percent, to 948 points. The capesize index climbed 44 points, or 4.47 percent, to 1,028 points.
China Iron Ore Output at 20-month High
China's iron ore output jumped in June to its highest level since October 2015, data showed on Wednesday, the strongest sign yet that soaring prices have spurred miners in the world's top consumer of the steelmaking raw material to boost production. Output rose 5 percent from a year ago to 124.7 million tonnes, data from the National Bureau of Statistics showed. Prices have been on a tear in recent months as steel mills have churned out record volumes of metal…
Hyundai Heavy Industries Debuts ‘Smart Ship’ Solution
South Korean shipbuilder Hyundai Heavy Industries (HHI) said it has developed proprietary ICT technology capable of realizing economical and reliable navigation and management of ships: Integrated Smart Ship Solution (ISSS). HHI said the solution provides a wide range of ship information to operators, including optimal navigation routes and navigation speed along with a slope status of the front and back hull of a ship that minimize resistances a ship takes on voyage.
Mega Ship MOL Tribute Under BSM Management
Bernhard Schulte Shipmanagement (BSM) has announced that the 20,146 TEU containership, MOL Tribute, came into full management of the Hong Kong Ship Management Center on July 10, 2017. Built by Samsung Heavy Industries in South Korea, MOL Tribute is 400 meters in length having a deadweight of 196,877 MT, with her sister ship, MOL Tradition, scheduled to enter Hong Kong management at the end of August.
IT Package Ordered for Australian Arctic Research Ship
Damen Schelde Naval Shipbuilding (DSNS, Vlissingen) has awarded Radio Holland a contract to supply the IT systems on board the state-of-the-art Antarctic Supply Research Vessel (ASRV) newbuild for the Australian Antarctic Division. The 160m ASRV is a survey vessel which combines icebreaking, survey and supply activities. The vessel will be able to break ice up to 1.65 meters at a speed of 3 knots and…
June US-flag Great Lakes Shipping Unchanged from 2016
U.S.-flag Great Lakes freighters (lakers) moved 9.7 million tons of cargo on the Great Lakes in June, a virtual repeat of a year ago, according to the Lake Carriers’ Association (LCA). However, this June’s shipments were down 3.6 percent from the month’s long-term average. Iron ore cargos for steelmaking totaled 4.9 million tons, an increase of 3.5 percent compared to a year ago. Coal loadings rose 8.1 percent to 1.6 million tons.
US Iron Ore Boosts St. Lawrence Seaway Shipping
With strong increases in iron ore and other cargo, total tonnage shipped via the St. Lawrence Seaway is up 20 percent over last year. The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20 to June 30 totaled more than 12 million metric tons – up two million metric tons over the same period in 2016. “St. Lawrence Seaway shipping is a bellwether for the health of the overall U.S.
ClassNK CMAXS for Two MOL Ships
ClassNK Consulting Service Co., Ltd. developed next-generation diagnostic monitoring system “ClassNK CMAXS” has been chosen by Mitsui O.S.K. Lines (MOL) for installation…
Odd Lundberg Chooses Rapp Marine Winches
Rapp Marine said it has received a new order from Odd Lundberg As, marking the third generation of owners from the shipping company who have selected its deck machinery. “This is the first time the shipping company has selected a high-tech electrical solution,” confirms Morten Stenkjær, VP Sales at Rapp Marine AS. “The owner’s new pride is a combined ring-net and pelagic trawler and will be equipped with a complete electric deck machinery solution from Rapp Marine.
Race Boat to Attempt US-Cuba Speed Record
An upcoming world speed record attempt by Nigel Hook and the crew of SilverHook will be a two-for-one as they set out to achieve the fastest crossing from the U.S. to Cuba, and then back. Captain Hook has chosen August 17 to try to set two speed records in what is considered the most technically-advanced offshore monohull race boat in the world. The first objective is a one-way speed record from a point just off the Florida Keys to Havana.
Liquid Services Celebrates 25th Anniversary
Regional tankerman service Liquid Services, LLC, is celebrating 25 years of operation on the inland waterways. In what started as a mom and pop shop in Paducah, Ky.…
Inland Waterways Authority of India to Raise USD 103 mln Through Bonds
The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Revalidation of permission to raise Extra Budgetary Resource (EBRs) of INR 660 crore (USD 103 mln) as Government of India Bonds by Inland Waterways Authority of India (IWAI) in 2017-18. The proceeds from the bonds will be utilized by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016).
IMO Addressing the Migrant Crisis
The loss of life of migrants at sea is a humanitarian tragedy that needs to be addressed through appropriate and effective action at the United Nations. International Maritime Organization (IMO) recognizes the crucial role played by both Government and non-governmental organizations in search and rescue operations, as well as the part played by merchant ships in coming to the aid of persons in distress at sea.
UK Ship Register Modernization Begins
The UK’s Maritime & Coastguard Agency (MCA) is modernising the way the UK Ship Register operates and a number of new initiatives are in the works that could help the red ensign become more commercial and internationally competitive, says a report from UK Chamber of Shipping. The MCA is considering increasing the fee structure for the UK Ship Register to above 2016 levels, attendees heard at the All-Party Parliamentary Group for Maritime and Ports on Monday.
Antwerp Port Container Freight Up by 2.5%
The port of Antwerp handled 111,385,518 tonnes of freight during the first six months of this year, 2.8% more than in the same period last year. Container freight once more performed well after a number of exceptional years, with an increase of 2.5% in terms of tonnage and 1.9% in TEU. Liquid bulk, a regular climber, finished 1.8% up at the end of June. After the previous record years these figures inspire further confidence.
Paragon Offshore Comes Out of Bankruptcy
Paragon Offshore Group announced that it has emerged from bankruptcy after completing a restructuring that eliminated USD 2.3 billion of debt. The successor company to Paragon Offshore PLC , which filed for bankruptcy in February 2016 with USD 2.96 billion of debt, also named a new board of directors. The search for a new CEO is underway. "The plan of reorganization under chapter 11 of the United States Bankruptcy Code substantially de-levers the company’s ongoing business…
Van Oord Wins Dubai Project
Van Oord has been awarded the contract for Dubai Harbour marine works, a prestigious mega project in Dubai. The project, which Van Oord carries out for Projects Link Contracting Co LLC, is the next step in achieving ‘Dubai Tourism Vision 2020’, Dubai’s strategy to attract 20 million visitors per year by 2020. A strategy to which Van Oord has contributed since 2001 by building amongst others Palm Jumeirah, The World and many other artificial islands.