TORM Updates Fleet Status
Denmark-based shipping company TORM sold three vessels: TORM Anne (1999-built MR vessel), TORM Madison and TORM Trinity (both 2000-built Handysize vessels) during the first six months of 2017. Furthermore, TORM completed sale and leaseback transactions for three vessels: TORM Helene, TORM Mary and TORM Vita. The three sale and leaseback transactions are treated as financial leases but have no purchase obligation attached.
US to Commission USS Lewis B. Puller
The Navy will commission the Expeditionary Sea Base USS Lewis B. Puller (ESB 3) during a 5 p.m. AST ceremony Thursday, August 17, at Khalifa bin Salman Port in Al Hidd, Bahrain. The future Lewis B. Puller - currently USNS Lewis B. Puller (T-ESB 3 )- is the second ship to bear the name of Lt. Gen. Lewis Burwell "Chesty" Puller, a distinguished combat veteran of World War II and the Korean War. Puller…
MRV Made Easy: NAPA Updates Performance Monitoring System
Maritime software, services and data analysis provider NAPA said it has updated its performance monitoring and reporting systems to enable simple, straightforward compliance with EU Monitoring, Reporting and Verification (MRV) legislation. Users of NAPA Shipping Solutions, ClassNK-NAPA GREEN and NAPA-DSME Power can easily generate MRV reports and include their performance monitoring software as their data collection method in the monitoring plan due on August 31, 2017.
Detyens Sees Uptick in International Repair Work
International vessels have been trading in the Port of Charleston, S.C. for centuries. While Charleston is the sixth largest container port in the U.S., it is also home to Detyens Shipyards, Inc (DSI). In the past several years, DSI has seen an increase in the number of dry dock inquiries and bookings from International vessel operators. “In the last two quarters, we’ve dry docked eight internationally owned and operated vessels,” explained Peter Browne, Vice President of Estimating.
Buzby Sworn in as Maritime Administrator
Rear Adm. Mark H. Buzby, USN, Ret. has been sworn in as the Administrator of the Maritime Administration by U.S Secretary of Transportation Elaine L. Chao. As Maritime Administrator, Buzby will lead the agency tasked with promoting the use of waterborne transportation and its seamless integration with other segments of the transportation system; and the development and maintenance of an adequate, well-balanced U.S.
Latest Gulf of Mexico Auction Signals Offshore Return
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum. This compared with $18 million in high bids at the Bureau of Ocean Energy Management's (BOEM) Outer Continental Shelf auction last summer. Winners will be announced after a 90-day review. Some…
Milaha Launches Kuwait Service amid Diplomatic Crisis
Qatar Navigation (Milaha) , a top Doha-based shipping and logistics group, said on Wednesday it had launched a new container service to Kuwait amid a diplomatic crisis that has seen it lose access to regional trans-shipment hub, Dubai. Milaha will operate the weekly, direct service between Kuwait and Qatar using a vessel capable of handling the equivalent of 515 20-foot containers, the company said in a statement.
UKHO Supports HMS Queen Elizabeth in Portsmouth
The United Kingdom Hydrographic Office (UKHO) has supported the safe arrival of HMS Queen Elizabeth into Portsmouth by providing specialist marine geospatial and hydrographic expertise and data capabilities. Following initial dredging operations to make Portsmouth’s navigation channel and entrance deeper, hydrographic data was collected by the survey launch HMS Gleaner using modern multibeam echosounder technology to confirm the available water depth.
Shifting Oil Market Dynamics Key to Tanker Trade Prospects -MSI
The Q3 2017 tanker market is proving vexatious for owners still struggling with the effects of fleet oversupply. But in its latest monthly forecast, Maritime Strategies International (MSI) observes that changing trade patterns could help stabilize the market toward year-end and into 2018. With all-OPEC crude exports setting record highs in July, the cartel’s attempts at lowering production are clearly open to question.
Hybrid Propulsion Solution for Fish Farming Vessel
Wärtsilä said it has been contracted to deliver the ship design for a new processing and transportation vessel to be built at the Balenciaga shipyard in Spain on behalf of Hav Line AS of Norway. In addition to the design, Wärtsilä will also supply an integrated solution comprising a 10-cylinder Wärtsilä 31 main engine, auxiliary engines, propulsion machinery, the propulsion remote control system, and the electrical and automation system.
Baltic Index Continues Winning Streak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Wednesday continued its winning streak as demand for capesize vessels strengthened. Rising for the thirteenth straight session, the overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 38 points, or 3.25 percent, at 1,207 points, touching its highest since April 20.
US-flag Great Lakes Shipping Dips Slightly in July
U.S.-flag Great Lakes freighters (lakers) moved 9.7 million tons of cargo on the Great Lakes in July, a decrease of 1.5 percent compared to a year ago, the Lake Carriers' Association (LCA) reported. July’s shipments also trailed the month’s long-term average by 8.4 percent. Iron ore cargos for steelmaking totaled 5 million tons, an increase of 8.7 percent compared to a year ago, while coal loadings slipped 16.7 percent to 1.4 million tons and limestone cargos hauled in U.S.
Cruise Ship MS Bremen Certified to Polar Code
Hapag-Lloyd Cruises’ expedition cruise ship, the 155-passenger MS Bremen has become one of the first passenger ships in the world to receive the Polar Ship Certificate which will be mandatory for ships operating in the polar regions from January 2018. MS Bremen was awarded Polar Code certification by classification society DNV GL following a two-year long phase of intense preparation, leading the way…
Army Helicopter Reported Down in Waters off Oahu
U.S. Coast Guard and U.S. Army personnel are responding to a report of a downed Army UH-60 Black Hawk helicopter with five crew aboard approximately two miles west of Kaena Point, Oahu, Wednesday.
HII to Pay $9.2 Mln in False Billing Settlement
Huntington Ingalls Industries Inc. (HII) has agreed to a $9.2 million settlement of allegations that it violated the False Claims Act by knowingly overbilling the government for labor on U.S. Navy and Coast Guard ships at its shipyards in Pascagoula, Miss. Under the settlement, HII will make a payment of $7.9 million which, combined with earlier repayments, will result in the settlement recovery of approximately $9.2 million.
Maersk Wants Trade Finance Role
Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.P. Moller-Maersk, is offering to finance shipments and remove the paper trail from financing deals. Maersk…
Maersk Reports Q2 Loss, Sees Cyber Attack Bill at $200-$300 Mln
Danish shipping group A.P. Moller Maersk reported an unexpected net loss in the second quarter due to terminal and tanker impairment charges, but said it was upbeat on the container shipping outlook. Maersk also said it expected a $200 million to $300 million bill from a June cyber attack that disrupted its container shipping operations for weeks. The company's net loss stood at $264 million, compared with expectations for a $507 million net profit…
Fog Lifts as Maersk CEO Remains Upbeat
Container shipping fundamentals at best since 2010 - CEO. Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by more than 4.5 percent as investors looked beyond one-off second-quarter charges. Maersk has been hit by low oil prices at its energy arm and sliding prices in its shipping business in recent years due to lacklustre global trade and a glut of available ships for hire.
PSA, PIL, IBM on Blockchain Development
Ocean carrier Pacific International Lines (PIL), terminal operator PSA International and IBM plan to utilize blockchain for better security, efficiency and transparency in supply chain business networks and trade finance. Three companies signed a Memorandum of Understanding (MOU) today to explore and trial proof of concept (POC) blockchain-based supply chain business network innovations. The MOU was signed by Ms Lisa Teo…
BPA Wants Reassurances on Borders Post Brexit
Commenting on the publication of the Government’s Brexit negotiating position paper on customs, the British Ports Association (BPA)’s Chief Executive, Richard Ballantyne today welcomed the focus on continuity but suggested that further reassurances were needed on future customs arrangements at the border. Commenting Ballantyne said: “We welcome the Government’s priorities to ensure a smooth transition…