Pacific Basin Acquires Five Bulkers
Pacific Basin Shipping Limited has announced its conditional agreement to acquire five dry bulk vessels for a total consideration of US$104.6 million. The consideration will take the form of 216,903,274 new Pacific Basin shares to be issued to the ships’ sellers amounting to US$46.1 million in aggregate, cash of US$38.0 million in aggregate, conditionally raised through a placing of new Pacific Basin shares to institutional investors…
Fugro Bags Surveying Contract
Dutch geo-consultancy Fugro’s integrated capabilities clinch further work for Sirius at the world’s largest high grade polyhalite deposit. The award of two major new contracts integrating geotechnical and geophysical investigations sees Fugro continue its site characterisation services at Sirius Minerals’ North Yorkshire polyhalite project. A new geotechnical package comprises seven deep boreholes in shaft and tunnel locations at the new UK mine…
Jakarta Terminal Begins One Week Strike Today
Trade unions in Jakarta International Container Terminal (SPJICT) will be striking from 3 until 10 August over what they claim as "ruthless attacks to workers’ rights". According to local media, the Federation of Indonesia Ports Union (FPPI) and Jakarta International Container Terminal Union (SP JICT) jointly participate in the strike. The unions say that the focus is on to pension rights and performance bonuses.
Fuel Removal from Grounded Kea Trader in Progress
Three weeks after the grounding of Kea Trader on a reef off New Caledonia, the removal of heavy fuel oil from the 2017-built containership is now underway and could be completed next week. According to Radio New Zealand, helicopters are being used to remove fuel from a ship stuck on a reef off New Caledonia. Oil is being moved from the vessel in tanks onto the nearby Chasseloup barge, London-based Lomar Shipping, the ship’s owner, informed.
Dunkirk, Dunkerque Port Sign LNG Pact
Dunkirk's LNG Terminal and Dunkerque-Port signed an agreement for the development of an liquefied natural gas (LNG) station to supply tank trucks. The use of LNG by shipping has grown significantly in recent months with new projects (orders for ships, LNG supply stations, etc). A month after signing the agreement, Dunkerque LNG and Total Marine Fuels Global Solutions (TMFGS) announced that they would supply LNG to the Honfleur…
Ardmore Shipping Reports Loss in Q2
Ardmore Shipping Corporation reported a net loss of $1.9 million for the three months ended June 30, 2017 as compared to a net income of $5.5 million for the three months ended June 30, 2016. The company has completed refinancing of the Ardmore Sealeader and Ardmore Sealifter, two 47,000 Dwt Eco-Mod product tankers, under a sale and leaseback arrangement, releasing net proceeds of $12.3 million which will be used for general corporate purposes.
Qatar Navigation Profit Falls in Q2 and H1
Qatar Navigation (Milaha) reported an 85 percent fall in second-quarter net profit, reports Reuters. Second-quarter net profit stood at 30.8 million riyals ($8.5 million) in the three months ending June 30, versus 201.4 million riyals a year earlier. Milaha has also reported a net profit of QR267 million for the six months (H1) ended June 30, 2017, compared to QR553 million for the same period in 2016. The report said that the company is hurt by a global marine downturn and regional sanctions.
IMO in Polar Environment
Following the launch of International Maritime Organization (IMO)’s film on the IMO Polar Code, a new video (watch video here) focused on search and rescued in polar regions is being published. The second video in a series on IMO in the polar environment takes a closer look at the challenges of search and rescue operations in polar regions, for example, how the current lack of marine infrastructure…
Northern Lights Taps Purdy as Vice President/General Manager
Manufacturer of marine power generation and climate control products Northern Lights, Inc. has promoted Kit Purdy to Vice President/General Manager. In his new role Purdy will oversee operations including engineering and quality assurance, research and development, sales/marketing and production.
Lake Charles Pilots Orders Fourth Gladding-Hearn Vessel
Louisiana-based Lake Charles Pilots has ordered a fourth pilot boat from Massachusetts-based shipbuilder Gladding-Hearn. The new all-aluminum vessel, due for delivery in 2018…
Oil Spill Response: SCOPE 2017
Later this year a major oil and chemical protection exercise dubbed SCOPE 2017 will be carried out in Norway. A joint project including major European and Scandinavian stakeholders, the simulated response to a combined oil and chemical spill aims to foster clearer communication and coordination of spill response across agencies and physical country boundaries. Stig Wahlstrøm, Project Manager SCOPE 2017…
IMO to Honor Former Secretary-General Sekimizu
The International Maritime Prize for 2016 will be awarded to former Secretary General of the International Maritime Organization (IMO) Koji Sekimizu for his contribution to the work of IMO over many years. The Council unanimously decided to award the Prize to Sekimizu, IMO Secretary-General Emeritus, in recognition of his invaluable contribution to the work and objectives of the organization and the international maritime community as a whole.
India Seizes Merchant Ship Carrying 1,500 kg of Heroin
India's navy seized a ship carrying about 1,500 kg of heroin worth 35 billion rupees ($545 million) on Sunday in what it said was its biggest ever drugs haul. The vessel…
MV WERFTEN Promotes Luukkonen
Janne Luukkonen has taken over the position of Director of Project Management at MV WERFTEN as of August 1, 2017. He is a member of the senior management, responsible for all shipbuilding projects, and reports to CEO Jarmo Laakso. Luukkonen was previously a member of the Meyer Werft management team in Turku, Finland. Now as director, he is responsible for the project management of MV WERFTEN’s newbuilding program.
Crowley Supports Platform Tow-out, Installation in US Gulf
Crowley Maritime Corp.’s ocean class tugboats and 455-series high-deck strength barges recently played an integral role in the tow-out and installation of Hess’ Stampede tension-leg platform (TLP) in the deep waters of the U.S. Gulf. Demonstrating both nearshore and offshore capabilities, six Crowley vessels worked together alongside other third-party assets to deliver the oversized, overweight platform…
Freight Train Derails, Sparks Fire in Pennsylvania
A freight train on a CSX Corp line derailed in southern Pennsylvania on Wednesday, the company said, and local authorities said a freight car struck a garage which…
Repsol Suspends Drilling on Vietnam Oil Block Disputed by China
Spain's Repsol said it had suspended oil drilling in a block off Vietnam, where the prospecting in South China Sea waters claimed by China had infuriated Beijing…
Rescue Boat Seized for Allegedly Aiding Illegal Migration
Italian coastguards seized a migrant rescue boat operated by a German aid group in the Mediterranean due to suspicions it had aided illegal immigration, the police said on Wednesday.
Italian Minister Warns of Rigid Response to French Shipyard Move
Paris and Rome should be able to resolve their differences over the sale of a disputed shipyard, Italy's industry minister said on Wednesday, but he hinted that French investors might yet be hurt because of the row. The comments from Industry Minister Carlo Calenda could spell trouble in particular for French media group Vivendi , which has taken control of Italy's main telecom provider Telecom Italia (TIM).
The Evolving ATB Jones Act Business Model
Today’s ATB play seemingly has legs for the long haul, as operators build and market needs fluctuate. The refined product trades are always in flux. Similarly, the supply patterns for products (and for chemicals derived from oil refining) are subject to constant change. At the same time, the distribution of refined petroleum products sees great benefit from the efficiency of Articulated Tug Barges (ATBs)…