Euploia Drydocks Joins Pompe Garbarino
Euploia Drydocks & Services Ltd signed a collaboration agreement with Pompe Garbarino S.P.A.. Euploia Drydocks and Services Ltd wish to broaden professional horizons by representing Exclusively in Greece one of the most well-established companies in the field of centrifugal and positive displacement Pumps for Marine & Offshore, Navy and Industry. Pompe Garbarino S.P.A. is worldwide leading company…
DHT Holdings Completes Delivery of 9 VLCCs
Bermuda-based DHT Holdings has completed the delivery of the nine VLCCs acquired from the BW and the contracts for the two newbuildings due for delivery in 2018 have been transferred to DHT. DHT has a fleet of 30 VLCCs, 26 in the water and four under construction scheduled for delivery in 2018, as well as two Aframaxes. The total dwt of the fleet is 9,502,995. The average age of the VLCC fleet is 6.8 years.
BIMCO ELearning Dramatically Refreshed
BIMCO has launched the first of a range of updated eLearning courses tailored to meet shipping professionals’ needs, using the very latest content authoring technology and platform. The first short documentary course is NYPE 2015, which is based on one of the most popular individual contracts available through BIMCO, only takes an hour! The other two courses, one covers Time chartering and the other Voyage chartering, provides the latest details in depth.
Malibu Boats Offers Two million Shares at $25.25/Share
US manufacturer of recreational boats Malibu Boats has announced the pricing of the follow-on offering of 2,000,000 shares of the Company's Class A Common Stock at a price to the public of $25.25 per share. The offering is expected to close on or about August 14, 2017, subject to customary conditions. The Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 300,000 shares of the Company's Class A Common Stock.
NAT Time Charter with Oil Firm
Nordic American Tankers Limited (NAT) announced that it has entered into two Time Charter arrangements (TCs) with Shell Oil for a period of 18 months for each vessel, commencing in August/September this year. The terms of the confidential contracts include upside for both parties as well as downside protection. NAT now has three TCs with Shell. NAT has six TC arrangements with large oil companies - from three months up to 18 months.
Global Bulk Terminals Market to Grow 5.1%
Global Bulk Terminals market is expected to grow from $5.20 billion in 2016 to reach $7.41 billion by 2023 with a CAGR of 5.1%, said Forecast Research Study. Rising demand from industrial output, increasing usage of bulk commodities and its affordability in emerging countries are some of the factors fuelling the market. In addition downfall of coal consumption and business reforms in some countries are hindering the market growth.
Munich Maersk Comes to Hamburg
While on her maiden voyage, the “Munich Maersk” berthed at EUROGATE Container Terminal Hamburg on 5 August. With a nominal capacity of 20,568 TEU (twenty-foot equivalent unit) the container vessel is one of the largest in the world. The megaship belongs to the second generation of Maersk Line’s well-known Triple-E class and calls Hamburg as part of the AE5 service of the 2M alliance, which connects European harbours with ports in Far East.
MISC Q2 Net Profit Down 59%
Malaysian shipping line MISC Berhad has recorded a 58.7% drop in its earnings for the second quarter of this year compared to the previous corresponding quarter. The company announced a net profit of RM 556.5mln in its quarter ending June 30, 2017, compared to RM 1.34bln in the last corresponding quarter. The decrease in profit was in part owing to an impairment loss on ships, property, plant and equipment of RM 133.6mln.
Vale Sells Two Large Ore Carriers for $178 Mln
Brazilian mining company Vale SA on Wednesday said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million. The…
25th Anniversary of the Destriero’s Record Atlantic Crossing
On August 9, 1992 – 25 years ago today – the motor yacht Destriero set the record for the fastest Atlantic crossing, a record that remains unbeaten to this day.
Recent Vessel Sales: July 2017
Vessel sales for July 2017 (as of August 1) as prepared by Shipping Intelligence, Inc., New York.
A Versatile Harbor Tug
The azimuthing stern drive (ASD) format has become the norm for a great many tugs working in vessel assist around the world’s ports. They now far outnumber the full tractor tugs with the azimuthing drives set forward under the house as do they the cycloidal drive tugs. Often, the ASD tugs are dedicated ship-handling units with a single hawser winch forward. However, a lot of owners, looking to maintain diversity of applications and markets are adding a towing winch aft as well.
MV WERFTEN Constructing New Shipbuilding Hall
MV WERFTEN has started constructing a new hall complex that will house its new panel, section and section outfitting lines at the shipbuilder’s shipyard in Rostack, Germany. The symbolic first cut of the spade, carried out by Genting Group’s Chairman and CEO Tan Sri Lim Kok Thay, Mecklenburg-Vorpommern’s Minister for Economic Affairs Harry Glawe, Rostock‘s senior mayor Roland Methling and MV WERFTEN Chief Operating Officer Holger Tepper…
Fate of Seine-Nord Canal Project Depends on Funding
A project to build a canal to link Paris with major harbours of northern Europe will depend on lining up the necessary funds, the French government said on Wednesday…
Load Cell Measures Dredging Line Tension
A 2.5-ton capacity SP Radiolink plus load cell measures tension on a line stretching across a lagoon, upon which a dredge travels at a biosolids management facility, part of the City of Eugene Waste Water Dept., in Oregon, U.S. The RLP was added to inventory at the start of the latest six-month biosolids management season in March, where it replaced a dynamometer that was not suited to working in the elements.
BMT to Support for UK MOD’s Common Workboats
BMT Group subsidiaries BMT Asset Performance Ltd and BMT Defense Services Ltd will work with Atlas Elektronik UK (AEUK) and its team of suppliers, who announced that it has been awarded a contract valued at £48 million for the supply and support of Common Workboats for the U.K.’s Ministry of Defense (MoD) over a six-year period. Ranging in size from 11 to 18 meters, the multi-role SEA Class vessels share common components and will be modular in design.
New Tug Series from Robert Allan, Cheoy Lee
Canadian naval architecture firm Robert Allan Ltd. and Chinese shipbuilder Cheoy Lee Shipyards have rolled out the RAmparts 2500-CL, an exclusive new tug series being built by Cheoy Lee. The new tug series is an evolution of Robert Allan Ltd.'s RAmparts 2500-W design, updated for Cheoy Lee's marketing objectives, which include increased flexibility allowing for a multitude of options according to clients’ requirements. The first RAmparts 2500-CL vessel is scheduled for delivery in early 2018.
Petrobras Authorized to Export Idle LNG Cargoes
Brazil's Petroleo Brasileiro SA has been authorized to export idle liquefied natural gas (LNG) in the spot market, according to the Wednesday issue of the official gazette.
Baltic Index Rises for Eighth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the eighth straight day to its highest level since early May. The overall index - which factors in rates for capesize, panamax, supramax and handysize shipping vessels - was up 12 points, or 1.16 percent, at 1,050 points. The capesize index gained 43 points, or 2.59 percent, at 1,702 points.
Ulstein: A Century of Innovation
Ulstein, now a century old, has spent the last 100 years looking to the future. Since its formation on August 9, 1917 in Ulsteinvik, Norway, the family-owned shipbuilder, designer and systems supplier said it has focused on tomorrow’s opportunities today. Over the years, Ulstein has evolved through innovation and pioneered trailblazing solutions, driven by its desire to meet shifting customer demands, commercial openings and market challenges head-on.