Asia Tankers-VLCC Rates to Remain Low on Tonnage Glut
Around 90 ships charter free for early September loading. Freight rates for very large crude carriers (VLCCs) on Asian routes will remain under pressure for at least the next month, facing strong headwinds from a glut of tonnage, brokers said. "There are around 80 to 90 ships available for charter in the first 10 days in September - that's about three ships for every cargo," a Singapore-based supertanker broker said on Friday.
U.S. Navy Punishes Senior Staff in Deadly Warship Collision
Commanders of U.S. warship removed after cargo ship collision; seven sailors killed in June collision. The U.S. Navy has removed the two senior officers and the senior enlisted sailor on a U.S. warship that almost sank off the coast of Japan in June after it was struck by a Philippine container ship, the Navy said on Friday. Multiple investigations have yet to apportion blame for the accident that killed seven U.S. sailors aboard the guided missile destroyer the USS Fitzgerald.
Coin Ceremony for Mexican Navy Newbuild
On Thursday, August 17, the Secretary of the Mexican Navy, Admiral Vidal Francisco Soberón Sanz, took part in a symbolic coin ceremony at Damen Schelde Naval Shipbuilding…
MAN D&T, AKA Partner to Win Russian Order
MAN Diesel & Turbo and AKA have received an order in connection with the building of a multi-purpose supply vessel for a federal Russian agency. Delivery is scheduled for March 2018 in St. Petersburg and marks the first successful collaboration between the two partners since MAN Diesel & Turbo bought a 40% share in AKA – the electric-and-hybrid-systems company – in June 2017. the drive control and power-management systems.
Deschenes Joins Bouchard as VP
Bouchard Transportation Co., Inc. said that Christopher Deschenes has joined the company as Vice President of Maintenance and Repairs. Prior to joining Bouchard, Mr. Deschenes served as a Project Engineer with Overseas Shipholding Group, Inc. as a member of the Worldwide Technical Service Group, supporting all new construction and capital projects for the foreign and domestic OSG tanker/ATB fleet. He then moved on to Ocean Tug & Barge Engineering, Inc.
TEN Get Charter for Two Suezmaxes
Tanker operator Tsakos Energy Navigation (TEN) announced the expansion of its long term strategic alliance with a major US oil concern. Two suezmax vessels have been chartered for three years, bringing the relationship to six vessels. These charters are scheduled to commence in early September upon completion of the current employment of each vessel and contain profit sharing arrangements. "We are…
CMA CGM Hires Diana Containerships' Domingo
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CMA CGM, Marseille, for one of its Panamax container vessels, the m/v Domingo. The gross charter rate is US$8,500 per day, minus a 3.5% commission paid to third parties, for a period of minimum 8 months to maximum 11 months. The charter will commence on September 15, 2017.
TEAM Sells Two Vessels in Q2
Team Tankers International Ltd. (TEAM) said that the company has agreed to sell the Tour Margaux (8,674 dwt, built 1993). The transaction closed and the ship was delivered to the buyer in July. The vessel is classified under Vessels Held for Sale as of June 30, 2017. Subsequent to the quarter, the Company sold the Sichem Dubai (12,888 dwt, built 2007) immediately prior to its upcoming special survey. To replace the capacity, the Company time chartered the Leon M (12,959 dwt, built 2008) in July.
IPA Opens New Container Route
Incheon Port Authority (IPA) announced that a regular container route ‘Thailand-Vietnam Services (TVX)’ launched by five shipping companies – Namsung Shipping, Dongjin Shipping, Pan Continental Shipping, Pan Ocean and CK Line – was newly opened. Starship Pegasus (1,800 TEU) provided for the TVX entered the Incheon New Port SNCT early in the morning on August 16 for the first time. Starship Pegasus is one of the three ships operated for the TVX.
Global FLNG Capex to Total USD 37.6bln
Global Capex on FLNG facilities is set to grow at a 9% CAGR over the 2018-2023 period, with expenditure forecast to total $37.6bn, said Douglas-Westwood report. Given the strong fundamental drivers – increasing gas consumption due to economic growth, fuel switching, and energy security – the outlook for the import vessels will remain strong over the 2018-2023 period. Despite near-term concerns due to challenging market conditions…
Vopak Expands Pengerang Terminal
Royal Vopak and its joint venture partners intend to expand their independent storage terminal, Pengerang Independent Terminals Sdn Bhd (PITSB) in Pengerang, Johor in southern Malaysia. PITSB will be expanded with 430,000 cbm to a total capacity of 1.7 million cubic meters.The expansion which is subject to final formalities, is expected to be commissioned progressively from Q1 2019. PITSB provides storage, blending and distribution services for crude oil and clean petroleum products.
Port of Incheon Volume to Reach 3.08 million TEU in 2017
The Container Handing Volume by the Republic of Korea's Port of Incheon is expected to reach 3.08 million TEU in 2017, said a company release. On August 3, the Incheon Port Authority (IPA) announced that its container handling volume for the second half of the year would be 1.61 million TEU, totaling 3.08 million TEU for 2017. According to the ‘Analysis of 2017 Container Volume for the First Half…
MAN’s Subsea Compressors Reach Field Proven Status
Both subsea compression trains at Statoil’s Åsgard field have achieved more than 25,000 operation hours with an availability close to 100 percent. The world’s first subsea gas compression facility features two MAN Diesel & Turbo HOFIM motor-compressor units. The Åsgard subsea compression system has officially reached the highest Technology Readiness Level (TRL) 7 with both trains surpassing 10,000 operating hours.