Rickmers to Continue Ship Management under New Owners
German shipping group Rickmers, which filed for insolvency in June, said on Thursday its ship management unit had the all-clear to continue business after it was bought by Bremen-based Zeaborn Group and owner Bertram Rickmers. The company said in a statement that a consortium consisting of Zeaborn and Bertram Rickmers bought the division, which has its main sites in Hamburg, Singapore and Cyprus after they won a bidding process.
Wärtsilä Cargo Handling System for LNG Bunker Barge
Wärtsilä said it booked an order in June to supply the cargo handling system and cargo tanks for a new 3,000 cubic meter capacity liquefied natural gas (LNG) bunker barge currently under construction. The vessel, which is being built in Romania and will be outfitted in the Netherlands, will be owned by LNG Shipping, a consortium between Belgium based Victrol and CFT Corporation based in France. When delivered…
Badal Joins BioBlend Executive Team
Len Badal has joined the senior executive team of BioBlend Renewable Resources, LLC, as the company grows its management team to help meet growing demand for environmentally friendly lubricants. Badal is a graduate of the United States Military Academy at West Point, and holds an MBA with a concentration in Finance from Rice University in Houston. Throughout his career Badal has held a number of high…
Asian Cruise Market Growth Continues -Report
The Cruise Lines International Association, has released the findings from two new reports about the Asian Cruise market. The first, 2017 Asia Cruise Trends, is a comprehensive analysis of the cruise industry within Asia. The second, the 2016 North Asia Economic Impact Study, reveals the economic impact the cruise industry has had to the North Asian market. “While the Asian cruise market has grown…
Baltic Index Hits Near 5-month High On Improving Vessel Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near 5-month high on Thursday, driven by stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 46 points to 1,296 points, a level last touched on April 13. The 3.68 percent jump was its biggest in a single day since Aug. 11.
In Sign of Oil Rebalancing, North Sea Floating Storage Shrinks
The volume of global price benchmark North Sea crude being held in floating storage has declined sharply since mid-August, according to shipping data and trade sources…
Spence Takes over as Noise Control Engineering President
Glosten subsidiary Noise Control Engineering, LLC (NCE), a Massachusetts-based acoustical and structural engineering consultancy, said it has appointed Jesse Spence as its next president. As NCE president, Spence will have direct responsibility for organizational processes, market assessment and business development. He accepts this position after serving as NCE’s director of technology. Spence joined NCE in 2001…
Bahri’s New Ro-Ro Ship Calls New Orleans
The Port of New Orleans welcomed the return of roll-on, roll-off service with the inaugural call of the Bahri Yanbu, a new state-of-the-art multipurpose vessel, in mid-August at the Nashville Avenue Terminal Complex operated by Ports America. “The return of roll-on/roll-off service to the Port of New Orleans – for the first time since 2005 – helps us meet the diverse needs of the marketplace and increases our global competitiveness,” said Brandy D.
Statoil's Bahamas Oil Terminal to Shut ahead of Irma
Norway's state-run oil company Statoil began making preparations on Thursday to shut its South Riding Point storage and transshipment terminal in the Bahamas ahead of Hurricane Irma, traders close to the facility told Reuters. South Riding Point in Grand Bahama has the capacity to store up to 6.75 million barrels of oil. A neighboring terminal in the Bahamas, Buckeye Partners' BORCO, was also expected to halt all operations on Thursday, the company said.
Subsea Construction Vessel Launched in Azerbaijan
The vessel was named Khankendi by the President of Azerbaijan, H.E. Ilham Aliyev, at a ceremony in Baku Shipyard and launched by the Shah Deniz consortium. Baku Shipyard LLC, a joint venture between Keppel Offshore & Marine Ltd (Keppel O&M), State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC), has completed a Subsea Construction Vessel (SCV) for the Caspian region.
Aker Arctic’s Ice Lab is Back in Acton
The Finnish icebreaking season typically ends in May. Around the same time, the cooling system in Aker Arctic’s ice laboratory in Helsinki, Finland, is turned off and the model basin is allowed to warm up for the annual summer maintenance break. Aker Arctic operates its own ice model testing facility at the company’s main office in Helsinki, Finland. Using the in-house developed FGX model ice, the…
Yang Ming Implements ECO Insight
The Taiwanese carrier Yang Ming Marine Transport Corp. will roll out DNV GL’s performance management solution ECO Insight. Yang Ming operates a fleet of 98 vessels, representing six million DWT and an operating capacity of 590,000 TEU, the majority of which are container vessels. Yang Ming will use ECO Insight performance management onshore, with Navigator Insight voyage reporting onboard for their vessels.
Global LNG Bunkering Market to Reach USD 8.19bln by 2023
Global LNG Bunkering market is expected to grow from $248.64 million in 2016 to reach $8187.35 million by 2023 with a CAGR of 64.7%. According to Stratistics MRC, growing marine logistic business, cost efficient LNG products, and imposing environmental regulations on chemical emissions are some of the factors bolstering the market growth. In addition, easy deployment facility is another factor fuelling the market growth.
US Amphibious Assault Ships Relief Mission in Virgin Islands
The amphibious assault ships USS Wasp (LHD 1), USS Kearsarge (LHD 3) and dock landing ship USS Oak Hill (LSD 51) along with the Marines of the 26th Marine Expeditionary Unit are supporting the lead federal agency in providing humanitarian relief efforts for Hurricane Irma. Wasp, the first Navy platform to arrive in the vicinity of the U.S. Virgin Islands, is providing medium and heavy lift helicopters to transport people and supplies.
Dryships Adds New VLGC
DryShips Inc, a diversified owner of ocean going cargo vessels, has announced that it has taken delivery of the previously announced high specifications second newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with five years firm duration to an oil major. The charterer has options to extend the firm employment period by up to three years. The…
MOL Car Carrier's First Call at Port of Kisarazu
Mitsui O.S.K. Lines (MOL) announced that on August 31, the MOL-operated car carrier Swan Ace (capacity: 6,400 standard passenger cars) called at the Port of Kisarazu in Chiba Prefecture and loaded 800 used vehicles. It was the first call for MOL-operated car carriers of Japan – East Africa trade. On the same day, the cargo owner, port officials, and other guests attended a commemorative ceremony at a hotel in Kisarazu City.
NY/NJ Welcomes CMA CGM Theodore Roosevelt
The 14,400 TEU capacity CMA CGM Theodore Roosevelt became the largest container ship to call the port of New York and New Jersey when it arrived at the APM Terminals Elizabeth container terminal. The ultra-large container ship also established a new record as the largest vessel to pass under the raised roadbed of the Bayonne Bridge, which now gives air draft clearance to vessels of up to 18,000 TEU capacity.
How Do Ships Avoid Hurricanes?
Dozens of ships in the Caribbean have already been diverted to avoid Hurricane Irma, but how exactly does shipping cope with extreme weather - a post by UK Chamber of Shipping. Hurricane Irma, much like its predecessor Hurricane Harvey, has sent shipping into disarray, particularly for cruise passengers. Around 40,000 holidaymakers are estimated to have been affected by disruption to scheduled cruises…
HMM Completes First Blockchain Pilot Voyage
Hyundai Merchant Marine (HMM) announced that it has successfully completed its first blockchain technology adopted pilot voyage. HMM, with other members of shipping and logistics blockchain consortium, have conducted its first pilot voyage from Korea to China (Busan to Qingdao) with reefer containers from August 24th to September 4th. HMM applied the blockchain technology to this pilot voyage - from…
Russia to build 15 Tankers at South Korean Shipyards
Fifteen tankers will be built at South Korean shipyards to transport the products of the Yamal LNG plant, TASS cites Russian President Vladimir Putin as saying. “We have noted with satisfaction the successful cooperation in the energy sector: South Korean companies are participating in the Sakhalin-1 and Sakhalin-2 projects, we are working on the issue of increasing purchases of liquefied natural gas,” the report quoted President Putin.