Cheniere to Completion 4th LNG Unit Soon
Houston-based energy company Cheniere Energy said that it is nearing completion of its fourth liquefied natural gas unit at its massive Sabine Pass terminal in Louisiana near the Texas border. The company, primarily engaged in LNG-related businesses, owns and operates the Sabine Pass LNG terminal in Louisiana. "Our long-term contract with Gas Natural Fenosa commenced and first LNG production occurred from Train 4 at Sabine Pass," said Jack Fusco, Cheniere's President and CEO.
Yangzijiang Shipbuilding Q2 Profit Surges 73%
China’s Yangzijiang Shipbuilding Holdings reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels, Reuters reported. The company, which specialises in dry-bulk carriers, posted a net profit of 719.92 million yuan (S$146 million) for the second quarter ended June 30, 2017. Revenue increased 27 per cent year on year to 3.79 billion yuan in Q2 due to higher contributions across its different businesses.
Hanjin Shipping: No Cash to Pay Creditors
Hanjin Shipping Co., the South Korean shipping company that caused havoc when it filed for bankruptcy, is struggling to raise enough money to repay $10.5 billion in creditor claims, WSJ reported. Hanjin has raised only $220 million by selling ships, stakes in seaport terminals and other assets to repay its more than 180 creditors. A trustee charged with Hanjin Shipping’s Korean bankruptcy case in in Seoul said Hanjin has raised about $220 million since filing for bankruptcy nearly a year ago.
14 South Korean Ship Owners Form Alliance
A group of 14 South Korean shippers are joining forces to form the first domestic alliance, aiming to restore the country’s shipping sector, reported Yonhap. Under the name “Korea Shipping Partnership (KSP)”, the new shipping consortium will be led by Hyundai Merchant Marine (HMM) and supported by Korea Shipowners Association (KSA). HMM, Pan Ocean Co. and 12 other shipping companies that are mainly…
SAAM Posts Profit Growth in 1H
Chilean provider of port, logistics and towage services SAAM ended the first half of 2017 with a net income of USD 43 million, showing a rise of 48.3 percent year-on-year basis. The provider of port, logistics and towage services in 13 countries in the Americas said that this figure was strongly impacted by a non-recurring gain of US$26.9 million, mainly from the sale of its minority interest in Tramarsa.
NASA, Norway to Develop Arctic Laser-Ranging Station
NASA and the Norwegian Mapping Authority are partnering to develop a state-of-the-art satellite laser ranging station 650 miles from the North Pole that will produce high-precision locations of orbiting satellites, help track changes in the ice sheets and improve the efficiency of marine transportation and agriculture. The Arctic station will be the latest addition to a global network of space geodetic stations…
Teekay Orders Shuttle Tanker Newbuilds
On July 27, 2017, Teekay Offshore (TOO) CEO Ingvild Sæther announced the contract signing for two Suezmax-size, DP2 shuttle tanker newbuildings, with options to order up to two additional vessels. The vessels are scheduled to be delivered in 2019 and 2020 and provide shuttle tanker services in the North Sea in support of Statoil. The newbuilds will be constructed based on TOO’s new Shuttle Spirit design which incorporates technologies to increase fuel efficiency and reduce emissions…
G E Shipping to Buy Secondhand LR2 Tanker
The Great Eastern Shipping Company Limited (G E Shipping) said it has signed a contract to buy a secondhand Long Range 2 (LR2) product carrier of about 105,000 dwt.
Forland Inspector Time Chartered
Forland Subsea AS said it has entered a time charter contract for the multipurpose offshore vessel Forland Inspector. The vessel, formerly known as Lewek Inspector, will be used for subsea operations, including remotely operated vehicle (ROV) support and crane work. The charter has commenced, and is for nine months firm plus three months options.
Panama Canal’s New Tolls Structure Approved
Modifications to the Panama Canal tolls structure have been approved by the Cabinet Council of the Republic of Panama. After a thorough analysis of the current utilization and productivity of the Neopanamax Locks, and after meetings with Panama Canal executives, customers and industry representatives in Europe, Asia and North America, the proposed tolls modifications were officially announced on June 1, 2017.
DSC Delivers Its First Tier 4 Final Dredge
In February 2017, DSC Dredge, based in Reserve, La., delivered its first-ever dredge equipped with a Tier 4 Final C32 ACERT Caterpillar engine to a minerals company located in the U.S. The Shark Class Dredge features an 18-inch hull-mounted dredge pump and 300 hp cutter drive assembly, and has a dredging depth capability of 56 feet. DSC supplied stainless steel hydraulic fittings and used anti-corrosion building practices, as the dredge will be working in a corrosive environment.
Cummins, Zonar Partner on Fleet Diagnostics
Cummins Connected Diagnostics is now available to customers using Zonar's smart fleet management solution, delivering information to operations managers that can…
India Unveils Road Map for Cruise Operations
The Shipping and Road Transport and Highways Minister Nitin Gadkari has said that the Indian government is committed to creating the right environment for promoting cruise tourism in the country. Speaking at Dawn of Cruise Tourism in India - an international conference organized by the Shipping Ministry at Mumbai Port today, he said that India has a huge potential of hosting nearly 40 lakh cruise tourists.
ICTSI Net Income Rises 19%
Manila-based global container terminal operator International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the first half of 2017 posting revenue from port operations of US$603.7 million, an increase of 10 percent over the US$550.8 million reported for the first six months of 2016. The net income attributable to equity holders of US$103.6 million,…
New Floating Dock Heads to Klaipeda
The world's largest heavy transport vessel Dockwise Vanguard is transporting a new floating dock from Montenegro to Lithuania. The floating dock was acquired in June 2016 and began its journey to Klaipeda, where it will be installed at the Western Shipyard owned by BLRT Grupp. In the beginning of August the 11,000 ton floating dock was loaded onto the Dockwise Vanguard, world's only vessel with a deadweight of 110,000 tons for carrying heavy loads and floating oil and gas platforms.
Brom Named CEO at Alphatron Marine
Bart Brom will take over as the next CEO of Alphatron Marine Group in Rotterdam, succeeding the company’s co-founder Luuk Vroombout at the start of 2018. After completing his studies in electrical engineering, Brom served in various management and executive positions at maritime electrical engineering companies such as Alewijnse, Bakker Sliedrecht and most recently Eekels Technology, where he is currently director and business unit manager for marine and offshore in Kolham.
ZEABORN Buys Five Heavy-lift Cargo Ships
On July 31, 2017, the ZEABORN Group signed the contracts for the purchase of five 30,000dwt Superflex Heavy Lift vessels, all of which are sister ships of the previously acquired Rickmers Hamburg, and are employed in the Rickmers-Line liner service acquired by ZEABORN in April. The parties involved have agreed not to disclose the purchase price. While the title to the vessels will pass to ZEABORN by the end of September…
Dry Bulk Shipping Gets a Boost from US Coal -BIMCO
U.S. seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total volume is predominantly driven by a growing demand from European importers. East Asian buyers have also ramped up their import of U.S. coal, which is beneficial for the dry bulk shipping industry as it generates a substantial amount of ton-miles, relative to other destinations. BIMCO reported back in December 2016, that the ton-miles from U.S.
US Coast Guard Evaluating 3-D Printing
For the average person, tracking down a spare part is often merely an annoyance. But for the crew of a Coast Guard cutter, the availability of spare parts can be important to mission completion or greatly affect their work environment. The Coast Guard Research and Development Center in New London, Conn., is currently studying how the use of 3-D printing technology might improve mission readiness through logistical support.
BOS Rolls Out New Engine Performance Software
Blue Ocean Solutions (BOS) has introduced new Engine Performance Software designed to provide ship operators with a holistic insight into the operating condition and efficiency of the ship’s engine.