Harvey Impacts Domestic Fuel Network
U.S. drivers are starting to feel the effects of Tropical Storm Harvey in their wallets as the country's fuel distribution network starting at the Gulf Coast and stretching across the country is squeezed by floods, refinery closures and dwindling supplies. At least 3.6 million barrels per day (bpd) of refining capacity is offline and more refineries are at risk of shut downs as the storm relentlessly dumps rain on Texas and heads toward Louisiana.
COSCO Books H1 Profit of $288 mln
China's COSCO Shipping Holdings Co Ltd reported a first-half profit on Wednesday and forecast that improved demand in the container shipping market would continue for the rest of the year. China's largest shipping group, which last month offered to buy a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 1.86 billion yuan ($288.32 million). That matched an estimate it announced in July, citing improved market conditions.
Crude Slips, Gasoline Jumps in Storm's Choppy Wake
Goldman Sachs says 23 pct of U.S. refining capacity is shut. Crude oil slid and gasoline futures hit their highest since mid-2015 on Wednesday as flooding and damage from Tropical Storm Harvey shut over a fifth of U.S. refineries, curbing demand for crude while raising the risk of fuel shortages. Refineries with output of 4.1 million barrels per day (bpd) were offline on Tuesday, representing 23 percent of U.S. production, Goldman Sachs said.
Tanker Firm Frontline Sees Weak Quarters Ahead
Oslo-listed tanker firm Frontline, controlled by shipping tycoon John Fredriksen, reported a deeper than expected second-quarter loss on Wednesday and said markets…
Traders Look to Asia Products for U.S. Options
Traders adding U.S. port options to cargoes for flexibility. Traders are scrambling to find oil products in Asia to ship to the United States and Latin America after Hurricane Harvey shut almost a quarter of U.S. refining capacity, several trading and shipping sources told Reuters on Wednesday. Many are also asking for ships to have a U.S. option added to their original destination to allow for flexibility in sending the cargoes across the Pacific, shipbrokers said.
Rolls-Royce to Design and Equip New Fishing Vessel
Rolls-Royce said it has signed a contract to deliver ship design and an extensive range of ship equipment to a purse seiner / pelagic trawler to be built for the shipowning company Gunnar Langva AS based in Ålesund, Norway. The 75 meter long vessel is to be built by Westcon Yards in Norway, and the Rolls-Royce contract is signed with the yard. This will be Westcon’s second order for Gunnar Langva. The previous vessel was delivered in 2013 and also designed by Rolls-Royce.
K-Fleet Voyage Application Verified for EU MRV
K-Fleet Voyage, KONGSBERG’s digital application for monitoring ship fuel consumption and emissions, has been verified by Ecoxy AS for use under the EU Emission Trading Scheme (ETS) and the new EU Monitoring, Reporting and Verification (EU-MRV) for maritime transport regulation (2015/757). Ecoxy AS is accredited by Norwegian Accreditation as a verifier according to ISO14065 for the ETS and EU-MRV. The regulation…
Borr Drilling Aims to Expand Fleet, Keep Costs Low
Borr Drilling, the Norwegian drilling start-up, which listed on the Oslo exchange on Wednesday, said it aimed to expand its fleet, taking advantage of its low cost base.
Noris Marine to Offer PBES Energy Storage to Southern Europe
PBES and Noris Automation GmbH has announced a partnership agreement to represent PBES energy storage for hybrid and fully electric commercial marine vessels. This further underscores the ongoing green shift that is now occurring in the commercial marine industry. “Noris Automation is a company with deep roots in the marine industry,” said Brent Perry, PBES Chief Executive Officer. “We are pleased to announce the agreement with PBES,” stated Uwe Ulrich, Managing Director, Noris Automation GmbH.
Baltic Index Falls on Weaker Vessel Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker demand for larger vessels. The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — was down 22 points, or 1.83 percent, at 1,181 points. The capesize index fell 99 points, or 4.16 percent, to 2,282 points. Average daily earnings for capesizes…
Kotug Smit's New Sister Tugs Go to Work
Kotug Smit Towage has taken two Damen-built ASD 2913 sister tugs, Rotterdam and Southampton, into service for its European harbour towage. Both tugs recently commenced harbour towage activities, starting in the Port of Rotterdam and the Port of Zeebrugge respectively. Both tugs have a length of 29 meters, a width of 13 meters and a bollard pull in excess of 80 tons. The Southampton is equipped with a fire-fighting1 system.
GE Marine Gas Turbines Selected for US Navy, Coast Guard
GE’s Marine Solutions said its LM2500 family of aeroderivative marine gas turbines have been selected to power two newbuild surface combatants for U.S. Navy and Coast Guard programs. Specifically, two LM2500+ gas turbines will power Bougainville (LHA 8), the U.S. Navy’s newest multi-purpose amphibious assault ship. Construction is expected to begin shortly according to shipbuilder Huntington Ingalls Industries.
Japan Won't Lower Guard of Whaling as Sea Shepherd Changes Tactics
Japan will not lower its guard over its whaling even though its biggest foe - the Sea Shepherd conservation group - has said it will not send ships to disrupt its fleet this year, a government official said on Tuesday. Paul Watson, founder of the Sea Shepherd Conservation Society, said in a statement on Monday the group’s limited resources made it difficult to compete with the military technology Japan…
Autonomous Shipping: Don’t Miss the Boat
The Norwegian company Yara is currently building a full-electrical containership fitted with an autonomous control system: the Yara Birkeland. During a recent visit to a major maritime conference, imagine my surprise when most attendees – some 200 executives from the maritime sector – discussed autonomous shipping in terms of its risks. The room seemed full of objections and doubts. What if the computer malfunctions?
Vestdavit Opens US Office
Facing “sustained positive trend in North American business levels” Bergen-based supplier of davits and other boat launching equipment Vestdavit said it is opening an office in Seattle. According to the company, direct representation will help it build on its existing strong regional reputation. Its davits are already widely used by the U.S. Navy, the U.S. Coast Guard, the National Oceanic and Atmospheric Administration (NOAA), and in the offshore oil industry among others.
Trends in Heavy Lift Solutions
Advances and developments in heavy lift transportation are allowing shipyards to rethink how, and where, they build and maintain vessels. Utilizing this technology can help a yard expand its order book and improve its bottom line. The use of Self-Propelled Modular Transporters (SPMTs) in shipyards enables a facility to expand its operations in numerous ways, including new building, maintenance and repair or storage.
IoT & Changing Connectivity at Sea
Whether it’s autonomous cars or connected houses, it seems like everywhere you look these days, internet of things (IoT) technology is a focus. Even in the conservative maritime world, IoT is currently a hot topic. Shifting supply chain solutions and business models are fundamentally changing the way that commercial shipping and the wider transport sector operates. IoT enables an organization to capture value from information…
Bahri Ship Management Complies with EU MRV
Bahri Ship Management, one of the six business units within transportation and logistics company Bahri, said it is in compliance with the submission of EU MRV (Monitoring…
Europe Gasoline Exports Set to Surge on Harvey Outages
Gasoline exports from Europe across the Atlantic are set to surge in coming days as traders plug supply gaps after Tropical Storm Harvey crippled refineries in the U.S. Gulf Coast. Many of the shipments are expected to end up in Latin America, which has become increasingly reliant on gasoline and diesel supplies from the U.S. Gulf Coast in recent years amid fast-growing demand in emerging economies such as Mexico and Brazil, traders said. Nearly a quarter of U.S.
Cammell Laird Employee Celebrates 60 Years in Ship Repair
Jim Clark, a senior manager at Cammell Laird, has clocking 60 years in the ship repair industry, making him one of the U.K.’s longest serving Chief Estimators. The 76-year-old chief estimator has delivering more than 11,000 over the course of his career, having worked with maritime brands from Blue Star Line to his current role at Cammell Laird. Since his first job in 1962 he has delivered estimates for ship repair projects worth circa £100 billion ($129.2 billion) in today’s currency.