Suez Canal's July Revenue Rises to $447.1 mln
Egypt's Suez Canal revenues rose to $447.1 million in July from $427.2 million in June, the government said on Tuesday. The canal is the fastest shipping route between Europe and Asia and one of the government's main sources of foreign currency. Egypt has been struggling to revive its economy since a 2011 uprising hit tourism and foreign investment. Reporting by Nadine Awadalla
Norway to Buy ThyssenKrupp Subs
Norway plans to sign a deal to buy four submarines from ThyssenKrupp in 2019, Norwegian defence minister Marie Eriksen Soreide said on Tuesday during a visit with…
US Navy a Hazard to Shipping -Chinese Newspaper
The U.S. navy's latest collision at sea, the fourth in its Pacific fleet this year, shows it is becoming an increasing risk to shipping in Asia despite its claims of helping to protect freedom of navigation, an official Chinese newspaper said. The USS John S. McCain and the tanker Alnic MC collided while the guided-missile vessel was nearing Singapore on Monday. The collision tore a hole in the warship's port side at the waterline, flooding compartments that included a crew sleeping area.
Qatar Shipper Milaha Starts Turkey Service amid Crisis
Qatar Navigation (Milaha), the Doha-based maritime and logistics group, has launched a direct shipping service between Qatar and Turkey amid a regional diplomatic crisis that has cut Doha cut off from three of its closest neighbours. Saudi Arabia, the United Arab Emirates (UAE), Bahrain, along with Egypt, cut diplomatic and trade ties with Qatar in June over its alleged support for terrorism and Iran - charges Doha denies.
Total Overtakes Shell in North Sea Production
Majors still control three quarter of output; even after $10 bln of deals, private equity still plays only modest role. French oil major Total has overtaken rival Royal Dutch Shell to become the second-largest producer in the North Sea with its acquisition of Maersk's Norwegian and UK producing assets. The $7.45 billion deal by Total was welcomed by the market, with analysts saying it helped the French…
ABB’s Onboard DC Grid on Hybrid Wind Farm Vessel
ABB will optimize the safety and environmental credentials of a new Louis Dreyfus Armateurs wind farm Service Operation Vessel (SOV) by installing Onboard DC Grid power distribution to enable the cost-efficient integration of batteries. As an integral part of the power system, the Power and Energy Management System (PEMS) will ensure safe and efficient operation of the vessel. The hybrid system enables lean operation with fewer running generators without compromising on safety…
Great Lakes Shipyard Builds First Damen Stan Tug
The first of 10 Stan Tug 1907 ICE vessels has been delivered by Great Lakes Shipyard to its sister company The Great Lakes Towing Company, both based in Ohio, U.S. Named Cleveland, the vessel marks a milestone in a licencing program agreed between Damen Shipyards Group and Great Lakes Shipyard following discussions that began in 2014. While the initial agreement is for the series build of 10 tugs for Great Lakes Towing…
First STM Ship Systems Installed
The STM Validation project has installed the first Sea Traffic Management (STM) compatible bridge systems, connecting ships with shore based services and actors. All available functions are said to be working flawlessly, including route optimization and synchronized port calls, as well as sending and receiving route segments ship to ship. The ships equipped are Stena Germanica and two rescue units from Swedish Sea Rescue Society ( SSRS), Rescue Märta Collin and Rescue 11-00.
Baltic Index Posts First Drop in 3 Weeks
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday snapped a 16-day winning streak, weighed down by weaker demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 17 points, or 1.34 percent, to 1,249 points. The capesize index shed 95 points, or 3.68 percent, to close at 2,489 points, notching its first drop since July 27.
Crowley Swaps US West Coast Tugs
Crowley Marine Services said it will relocate the tugboat Veteran to the Port of Los Angeles/Long Beach to service all vessels, including large petroleum tank vessels with deep drafts greater than 65 feet calling on Long Beach Berth 121. With a bollard pull rating of over 90 short tons, the powerful Veteran is better suited to serve the very large crude carriers (VLCCs) that are calling more regularly in Long Beach.
Research Vessel Repowered with Volvo Penta Diesel Sterndrives
When the Panama-based Smithsonian Tropical Research Institution (STRI) decided to repower their 11-year-old launch Morpho, as good scientists the team researched the alternatives thoroughly before selecting a triple Volvo Penta diesel sterndrive rig for the boat. Constructed in 2005, the 48-ft. Morpho makes daily runs for scientists and visitors between the STRI laboratory facility in Gamboa and the Barro Colorado Island nature sanctuary in the Panama Canal waterway.
MAN Engines Expands Sales & Service Network
MAN Engines said it is expanding its sales and service network for marine engines with bases in the U.K., Poland, Sweden and Chile. These partnerships will build on existing commercial ties between the service companies and MAN Engines, some of which go back decades. “MAN Engines is responding to the increasing quality requirements for a global service network,” explained Claus Benzler, Head of Marine MAN Engines.
Wight Shipyard Delivers Ferries for London
Sydney has its Harbour Ferries, Hong Kong its Star Ferries and New York the instantly recognizable Staten Island Ferries. Add to that list London, for increasingly the fleet of MBNA Thames Clippers is becoming as identifiable with the British capital as its famous red double decker buses. Wight Shipyard Company has delivered to MBNA Thames Clippers the latest, most technically advanced and energy efficient fast ferries in the expanding London fleet…
Panama Canal Welcomes Largest Capacity Containership To-date
The Panama Canal today welcomed the largest capacity vessel to ever transit the Expanded Locks, the Neopanamax containership CMA CGM Theodore Roosevelt, which began its voyage from Asia, will be making stops along the U.S. East Coast. The ship has a total TEU allowance (TTA) of 14,855 and measures 365.9 meters in length and 48.2 meters in beam. “Today’s transit not only represents the growing success and adoption of the Expanded Canal…
IMO, Liberia to Enhance Maritime Security
International Maritime Organization (IMO) is helping Liberia to develop a national maritime security strategy. The initiative got underway with a week-long fact-finding exercise (14-18 August) involving senior officials from Liberian Government departments and agencies with a stake in maritime matters. Based on the findings, a proposal will be presented to Liberia suggesting the best way forward.
CMA CGM Invests in NYSHEX Market
CMA CGM, a world leader in container shipping, is pleased to announce its participation in the first ever New York Shipping Exchange (NYSHEX) fundraiser, the first digital marketplace for ocean freight contracts. This investment is made alongside Hapag Lloyd, GE Ventures and Goldman Sachs, for a cumulative investment of $13 million. It is carried out through CMA CGM Ventures, the corporate venture…
MPA, IBM Complete Pilot Trial on Project SAFER
The Maritime and Port Authority of Singapore (MPA) and IBM today announced at the opening of the International Safety@Sea Conference that they have jointly completed the pilot trial of three modules under the MPA-IBM SAFER project, which will be rolled out progressively beginning September 2017. Project SAFER, derived from “Sense-making Analytics For maritime Event Recognition,” is a collaboration between MPA and IBM to develop and test new analytics-based technologies…
MPA Chairman Opens International Safety@Sea Conference
The International Safety@Sea Conference was officially opened yesterday by Mr Niam Chiang Meng, Chairman of the Maritime and Port Authority of Singapore (MPA). Organised by MPA as part of Safety@Sea Week, over 250 international maritime professionals convened to share best safety at sea practices. This year’s Safety@Sea week will also see the inaugural ‘Community of Practice’ (CoP) Forum which will be held on 23 August 2017.
Maersk to Face Price War
A.P. Moller-Maersk's main sea freight business faces the threat of a new price war in a consolidating industry, though the company has been fortified by the $7.5 billion sale of its oil and gas business to France's Total Reuters reported. Maersk, the world's biggest container shipping company, has shifted its focus this year from preserving market share to higher margins, a strategy that was helped by a recovery in freight rates, the report said.
Hutchison Ports, Basra Port in Management Deal
Hong Kong-based port operator Hutchison Ports has agreed to partner with NAWAH Port Management (NPM) to manage existing and future operations at the Port of Basra in southern Iraq. Hutchison Ports will assume oversight of day-to-day commercial and operational activities at NPM, operating under the name of Hutchison Ports Basra. NPM is a containerized terminal operator at the Port of Basra located along the Shatt Al Arab waterway in Iraq.