Mega-ships: ‘Mega-problem in Waiting’ -Xeneta
New alliances, structural change and positive economic trends have transformed the container shipping market over the past year, driving growth and pushing business performance figures from deep red into black. However, despite long-term rates that are, in some cases, up 120 percent year on year, the future remains uncertain due to a looming shadow on the horizon. And, according to Xeneta, it’s not being cast by the ‘usual suspect’.
Glosten to Design Electric Ferry for Skagit County
Washington’s Skagit County has selected Seattle based naval architecture and marine engineering consultancy Glosten to design a new all-electric vehicle/passenger ferry.
GE to Provide Maintenance to TMS Cardiff Gas’ LNG Fleet
GE’s Marine Solutions and TMS CARDIFF GAS Ltd. have signed a service agreement that will see GE undertaking the support and maintenance of four TMS LNG vessels—Corcovado, Kita, Palu and Yari—for the next 10 years. GE will provide maintenance services to TMS fleet’s electric propulsion system, including providing parts to the propulsion motors, medium-voltage drives, generators and switchboard. It will…
CGG Starts Seismic Survey Offshore Brazil
CGG said it has started work on Espirito Santo IV, a large BroadSeis 3D multi-client survey in the deep and ultra-deep waters of the Espirito Santo Basin offshore Brazil. The vessel Oceanic Champion is acquiring the survey which is expected to take seven months. This industry-supported survey will cover 10,300 sq km and be processed at CGG’s Rio de Janeiro Subsurface Imaging center. The high-end broadband sequence will include the latest 3D deghosting…
New Study Looks at LNG Bunkering for Car Carriers
To help promote liquefied natural gas (LNG) bunkering in Asia, the Maritime and Port Authority of Singapore (MPA) and the Ports and Harbors Bureau of the Ministry of Land, Infrastructure, Transport, and Tourism of Japan (MLIT) will helm a working group to conduct a feasibility study on LNG bunkering for car carriers plying between Japan and Singapore. This working group will include Japan’s big three shippers – Kawasaki Kisen Kaisha (K Line), Nippon Yusen Kaisha (NYK) and Mitsui O.S.K.
Roxtec Invests in New Fire Lab
Cable and pipe transit manufacturer Roxtec says it is growing in several different industries. In order to meet the increasing demand for product testing and pave the way for continuous growth, the company is building a new fire test lab in Karlskrona, Sweden, to be ready in 2018. The Roxtec sealing system is used all over the world to protect life and secure operations. Owners and contractors within…
Russian Engineers Work to Create Multipurpose WIG Craft
A team of Russian developers has been working to create a multipurpose seagoing ekranoplan, which they say could contribute significantly to the speed of seaborne traffic. The project will be presented by MariNet, the National Technological Initiative (NTI) working group, on the sidelines of the International Exhibition NEVA-2017 in St Petersburg, September 19-21. Specialists of RDC Aqualines will provide a concept…
Stena Adds Vessel on Gdynia-Karlskrona Line
Stena Lines reports the number of units carried by its Baltic Sea South freight business increased significantly in the first eight months in 2017, following strong growth through 2016. This calls for increased capacity, and from Monday, August 28, a fourth ship, M/V Gute, has been taken into operation between Gdynia and Karlskrona. “Over these last few years we have experienced a very positive volume…
Trelleborg Suite Supplied to Prelude FLNG
Trelleborg’s marine systems operation has supplied a suite of products to Shell’s Prelude FLNG facility, the largest offshore facility ever constructed. Prelude, which is 488 meters long, 74 meters wide, and made with more than 260,000 tons of steel, will extract and liquefy natural gas from a site in North West Australia. Trelleborg supplied its gas transfer technology and SafePilot navigational and piloting systems for Prelude.
Harvey Shuts in More than 18% of US Gulf Output -BSEE
More than 18 percent of oil production in the Gulf of Mexico was shut in on Tuesday due to Harvey, the U.S. Department of the Interior's Bureau of Safety Environmental Enforcement said. That equates to some 319,523 barrels of oil per day, out of roughly 1.75 million barrels pumped daily from the Gulf. The amount of production shut in was down from Monday, when more than 331,000 barrels were shut in.
Nishishiba, NICO Sign Service Agent Deal
Japanese power generation, industrial and marine electrical systems specialist Nishishiba Electric Co. Ltd., part of the Toshiba Corp., has entered in to a service agent agreement with UAE based marine and industrial engineering company NICO International. NICO International will be the authorized service representative for all the electrical power generating products manufactured by Nishishiba in the Middle East region.
COSCO Shipping Ports Reports Better H1 Results
The port terminal operator division of China COSCO Shipping Corp. posted net profits of US$384.7 million, an increase of 123.7% for FY 2017, compared with the corresponding period last year. Total throughput of the Group’s container terminals increased by 11.8% to 41,780,867 TEU for the six months ended 30 June 2017 (1H2016: 37,358,210 TEU); of which about 19.3% (1H2016: 21.1%) or 8,046,468 TEU (1H2016: 7…
Shareholders Approve Scorpio- Navig8 Merger
Scorpio Tankers said shareholders of Navig8 Product Tankers Inc. (NPTI) approved the previously announced merger of Scorpio and NPTI at shareholders meeting held Tuesday. At the meeting, approximately 94.25 percent of the NPTI shares outstanding were voted, all of which were in favor of the merger. The merger remains subject to customary closing conditions and is expected to close on or about September 1, 2017.
Hapag-Lloyd UASC Complete Integration Soon
In the first half of 2017, Hapag-Lloyd delivered a significantly better operating result and healthy volume growth. The merger with United Arab Shipping Company (UASC) on 24 May 2017 helped the Company to strengthen its market position and climb to fifth place among the world’s liner shipping companies. The transport volume increased by 14.0% in the first six months, to 4.22 million TEU, which includes almost 250,000 TEU from UASC-Group which was consolidated from 24 May onwards.
Rotterdam Port to Focus on Sustainability
The Port of Rotterdam Authority recently launched a new campaign: ‘Building a Sustainable Port’. “Sustainability involves more than just the environment. We have committed to a large number of initiatives and we will gladly present them,” says Port Authority CEO Allard Castelein. The Port Authority works hard to ensure that Rotterdam’s port and the surrounding area are safe, healthy and attractive. Castelein: “Building a sustainable port means working to create economic and social value.
TechnipFMC Wins West White Rose Contract
TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract from Husky Energy for the West White Rose Project in Eastern Canada. The contract covers the supply and installation of subsea equipment including tie-in manifolds, flexible flowlines, and control umbilicals, which will connect the recently announced West White Rose Platform to the existing SeaRose FPSO (Floating, Production, Storage and Offloading) vessel.
Greek Shipping Firms to Move Out?
Roughly one in two Greek shipping companies (56 percent) would consider relocating their administrative bases abroad, according to the findings of an Ernst & Young study. The results of the study titled “Repositioning Greece as a Global Maritime Capital” warn of a possible exodus by the country’s shipping enterprises at a time when global maritime centers are interested in attracting Greek shipowners.
Framo to Deliver Pump Systems to GasLog
Norway's Framo AS said it has won a contract to deliver pump systems (sea water lift pumps) for a Floating Storage Regasification Unit (FSRU) for the ship owner GasLog at the Samsung Heavy Industries shipyard. Delivery of the systems is scheduled for August 2018. Recetnly Framo has signed a contract with Höegh LNG for the delivery of pumping systems to their new FSRU. The contract is for one unit,…
Rickmers Maritime Wound Up
Rickmers Trust Management, a trustee-manager of Rickmers Maritime, informed that the trust has been wound up. The units of the trust and its notes shall cease to exist, said its trustee-manager in a Singapore Exchange (SGX) filing. The trust has made final distributions to unsecured creditors, representing a recovery of about 12.1 per cent. "There will be no further distributions or payments, cash or otherwise…
Harvey Soaks Louisiana as Houston Struggles With Flooding
Tropical Storm Harvey bore down on Louisiana on Wednesday, pouring down more water after setting rainfall records in Texas that caused catastrophic flooding and paralyzed the U.S.