Hyundai Heavy Profit Falls
South Korea’s shipbuilding giant Hyundai Heavy Industries (HHI) announces a 49% drop in net profit for the second quarter following a slowdown in ship orders. According to Yonhap, net profit for the three months that ended June 30 slumped to 69.2 billion won (US$62 million) from 137.5 billion won a year earlier. This setback is caused by a lack of orders for expensive newbuilds, says the company according to the report.
Dry Bulk Shipping Demand to Continue: Drewry
Drewry expects that dry bulk shipping charter rates will continue to recover with firm demand and controlled fleet growth, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. Drewry has revised its charter rates forecast in the short term as the date to implement ballast water management systems (BWMS) has been postponed by two years, bringing down the forecast for demolitions that will eventually support fleet growth.
CMA CGM Organized Towing Exercise
The Maritime Prefecture of the Channel and the North Sea, in liaison with the CMA CGM Group and Les Abeilles (Bourbon Group), organized a towing exercise between a large container ship, the CMA CGM Marco Polo, and the Abeille Languedoc, including an ‘intervention’, ‘assistance’ and ‘rescue tug’ (RIAS), off the coast of Le Havre. Thus on y, July 21, 2017 from 1:00 pm to 4:40 pm off Le Havre, the CMA CGM MARCO POLO simulated engine damage to enable the crew of L’Abeille Languedoc…
2017 IMO Award for Exceptional Bravery at Sea
Two members of the Houston Pilots in the United States are to receive the 2017 International Maritime Organization (IMO) Award for Exceptional Bravery at Sea. The pair will be recognized for their role in averting a major tragedy when the ship they were piloting broke down and burst into flames after colliding with mooring dolphins. Despite being surrounded by a towering wall of burning fuel for nearly 90 minutes, pilots Captain Michael G. McGee and Captain Michael C.
CMA CGM Launches Direct Service to Black Sea
In line with its strategy for the development of short lines in the Mediterranean and Black Sea, the CMA CGM Group has rolled out the Black Sea Med Express service, which connects the major countries around the Black Sea (Turkey, Romania and Ukraine) to Algeria and Morocco. The service will be CMA CGM's first to offer a weekly connection between the main ports of the Black Sea and Aegean Sea with the…
Theodore Roosevelt Strike Group Begins COMPTUEX
The ships of the Theodore Roosevelt Carrier Strike Group (TRCSG) departed, Aug. 1, for Composite Training Unit Exercise (COMPTUEX), the final work-up phase prior to deployment scheduled later this year. COMPTUEX evaluates the strike group's deployment readiness by testing command and control functions, crew safety evolutions, search and rescue operations, damage control testing and operational capabilities of a carrier strike group, ultimately certifying the TRCSG for deployment.
Hapag-Lloyd Receives New 15,000 TEU Ship
Hapag-Lloyd said it has taken delivery of the 11th and final 15,000 TEU vessel received through its merger with UASC. The 369-meter-long and 51-meter-wide containership, AFIF, was handed over to Hapag-Lloyd’s Ship Management by Hyundai Samho Heavy Industries (HSHI) in South Korea on July 27, 2017. Although the new vessel is final ship brought into the combined company by UASC, it is the first to already be sailing with Hapag-Lloyd’s colors and design.
Ecoship Cruise Liner Design Completed
Ecoship, a revolutionary new cruise liner set to feature the latest innovations in renewable energy usage, has been designed by specialist naval design and architecture firm Oliver Design, working from Getxo, Spain. The design was commissioned by Peace Boat, a Japanese NGO nominated for the 2008 Nobel Peace Prize and the promoter behind this ambitious project to design and build the high-range eco-friendly cruise ship.
Caterpillar CFO to Retire in 2018
Caterpillar Inc. will begin its global, external search for a new chief financial officer after it announced that group president and CFO Brad Halverson has elected to retire in early 2018, concluding a career spanning more than three decades with the company. Halverson will continue working into early 2018 and will help ensure a smooth transition for the new CFO. Prior to becoming CFO, Halverson served two years as vice president of the Finance Services Division…
Ice Navigation Training for Maersk Line Officers
Deck officers and captains from Maersk Line have begun a series of ice navigation training courses at Aboa Mare in Turku, Finland. The first course was taught in July…
Aune Joins PBES to Develop Energy Storage Markets
Eivind Aune has joined designed and manufacturer of industrial lithium-ion energy storage Plan B Energy Storage (PBES) in order to help further develop energy storage markets. Aune brings to the role decades of experience in Norwegian business. With an MSc in electronics/cybernetics and an MBA in international marketing and trade, Aune has served in several board and CEO positions, having most recently spent the eight last years as an owner and CEO of Sifa Mechanical Production in Selbu, Norway.
Xantrex Rolls Out New Sine Wave Inverters
Onboard AC power technology company Xantrex informs it has expanded its Freedom series with the launch of four new models. The new series called Freedom X marks…
Photogrammetry Accelerates Creation of Marine Enclosures
Costa Marine Canvas specializes in producing high end, custom marine furniture, soft goods, enclosures and covers. One of the most difficult of those tasks is creating windscreen enclosures for large and complex fly-bridge structures. A typical flybridge enclosure might have five 5-foot tall panels, ranging in various lengths, and combined to be 20 feet or more. While basic in appearance, each panel…
Russia in Talks with Asian Investors on Sovcomflot Sell-off
Russia is in talks with Asian investors on the privatisation of state shipping company Sovcomflot, the RIA news agency cited Russian First Deputy Prime Minister Igor Shuvalov as saying on Tuesday. The government does not rule out other forms of the company's privatisation apart from an initial public offering, the agency quoted Shuvalov as saying. (Reporting by Gleb Stolyarov; Writing by Dmitry Solovyov; Editing by Maria Kiselyova)
Grand Bahama Shipyard Reports Commercial Success
Caribbean shipyard Grand Bahama Shipyard (GBS) said it has completed work on 30 commercial vessels within first half of 2017, predominantly comprised of companies returning to the yard with repeat business including tankers, bulk carriers, containerships, tugs, dive support vessels and drilling support vessels. In what is considered a volatile market, GBS said 2017 has been a great year for repeat customers, solidifying its position as a supporter of the major U.S.
Grooving the Way: Back to the Future
Anything but new, the Victaulic method of pipe-joining has been around for a long time. Armed with myriad type approvals from most IACS groups, Victaulic’s output will no doubt (and soon) form a part of your marine equipment for a long time to come. The conservative and staid domestic waterfront, especially where it intersects boatbuilding and repair, recently set sail for increased efficiencies, driven in part by emerging technologies…
TEN Takes Delivery of Aframax Crude Tanker
Crude, product and LNG tanker operator TEN, LTD. announced the delivery of the aframax tanker Stavanger TS, the eighth in a series of nine tankers built against…
Oil Spill Response: USCG Testing Evolves
Coast Guard R&D Center’s JMTF is a big part of the nation’s environmental research efforts. In 1972, the U.S. Coast Guard Research and Development Center (RDC) established the Fire and Safety Test Detachment (FSTD), which later became the Joint Maritime Test Facility (JMTF), at Coast Guard Sector Mobile in Mobile, Alabama. As part of the unit’s establishment, test facilities were also built on nearby Little Sand Island in Mobile Bay.
Salvage and Marine Firefighting
Salvage and marine firefighting are complex response efforts often undertaken in adverse weather and sea conditions. While no two oil spill responses are the same, the diversity of variation between any two oil spill responses is not near as great as the diversity of any two salvage and marine firefighting responses. As a result, salvage and marine firefighting response providers must plan for and…
First Pacific Patrol Boat Keel Laid
Austal hosted the Hon. Christopher Pyne MP, Minister for Defense Industry, at the ceremonial keel laying of the first of 19 Pacific Patrol Boat vessels for the Australian Government’s Pacific Patrol Boat Replacement (PPB-R) Project. Minister Pyne authenticated the keel by committing his signature to a plate that was subsequently welded and placed in the hull of the vessel. Austal chief executive officer…