Baltic Index Up On Firmer Rates for Panamaxes, Smaller Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Monday, hitting a fresh nearly three-year high as rates for panamaxes and smaller vessels increased. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 13 points, or 0.94 percent, to 1,398 points, the highest since Nov. 10, 2014. However, the capesize index slipped 4 points, or 0.15 percent, to 2,681 points.
Palmali Lodges $2 Bln Claim Against Lukoil's Litasco
Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco, the trading arm of Russian oil producer Lukoil…
Ocean Guardian: Simplifying Environmental Compliance
Environmental compliance challenges are nothing new to the cruise industry. Initiatives to enhance environmental compliance, from clean technologies to improved processes and procedures, have significantly reduced the impact cruise vessels have on the environment and improved the quality of discharge. These onboard initiatives address what is in the vessel’s control, but cannot simplify the increasingly complex regulatory environment in which cruise lines operate.
Wärtsilä Debuts New Tug Designs
A new portfolio of tug designs, to be known as the Wärtsilä HYTug series, place emphasis on environmental sustainability. Since tugs typically operate in or close to harbors and populated areas, they are particularly affected by environmental considerations, and the need for regulatory compliance is an increasing concern for tug owners and operators worldwide. Having already introduced tug designs…
KOHLER Launches New Oils for Generator Applications
A new line of aftermarket genuine oil from KOHLER is engineered specifically for generator applications. The fully-synthetic premium oils are available in three formulations for different fuel types and are optimized for use in industrial, mobile, marine and home generators. “Generators have to run when they’re needed – there’s no room for downtime,” said Patricio Iligaray, Manager of Aftermarket Parts for Kohler Power Systems. “And, the oil you choose makes a real difference.
Gazprom Signs LNG Supply Deal with Ghana
Russian gas giant Gazprom has signed a 12-year deal to supply Ghana National Petroleum Corporation (GNPC) with liquefied natural gas, a subsidiary of Gazprom Marketing & Trading Group said on Monday.
GTT to Design LNG Tanks for FSRU Newbuild
GTT said it has received an order from the South Korean Shipyard Hyundai Heavy Industries concerning a new Floating Storage and Regasification Unit (FSRU) which…
Bellingham Marine Opens Plant in Fiji
The island nation of Fiji is thriving in its seventh straight year of economic growth. From textiles to sugar, one of Fiji’s fastest growing sectors is manufacturing.
Mitsui OSK Targets 26% Stake in Swan's Indian LNG Unit
Japan's leading shipper Mitsui OSK Lines aims to buy at least a 26 percent stake in a floating storage regassification unit (FSRU) in India, a company official said…
Satellite Operator Orders Orbit’s Maritime Satcom Platform
Orbit Communications Systems Ltd., a provider of precision tracking-based communications solutions and airborne communications management systems, announced that…
Austal Delivers Its 6th LCS to the US Navy
Austal USA delivered its sixth littoral combat ship to the U.S. Navy on Friday, September 15. The future USS Omaha (LCS 12) is the nation’s 10th littoral combat ship delivered to the Navy…
Bahrain Accuses Qatar of Seizing Three Vessels
Bahrain accused Qatar on Monday of illegally seizing three boats with 16 sailors on board, state news agency BNA reported, worsening an already deeply troubled diplomatic situation in the region.
Global BCOs Hit by Rising Contract Rates from Asia
Contract freight rates paid by Beneficial Cargo Owners to move their products by container have increased for a 4th consecutive quarter, according to actual contract rate data from the Drewry Benchmarking Club. Average contract rates on two major container trade routes - from Asia to North Europe and North America – have increased by another 4% between the second and the third quarter of this year.
IMO for Spreading Cyber Security
Cyber security awareness on board ships plays an important role in ensuring the safety and security of shipping around the globe. International Maritime Organization (IMO) has issued Guidelines on maritime cyber risk management, in addition to a resolution on Maritime Cyber Risk Management in Safety Management Systems – adopted by the Organization's Maritime Safety Committee in June this year. To help…
Australian Navy: Getting On Board the Gap Year
The Australian Defence Force Gap Year – Navy is an opportunity for young Australians to experience military training, service and lifestyle through a year-long program, with no further obligations on the participant to continue to serve. The program allows people to experience Navy life as a ‘try before you buy’ scheme during which every opportunity is given to participants to apply for transfer to Permanent Navy workforce categories, subject to sustainability and vacancies.
CMA CGM, Infosys Sign Strategic Partnership
The CMA CGM Group, a world leader in container shipping, has signed a strategic partnership with Infosys, a world leader in consulting, next-generation technology and services. The goal of this seven-year partnership is to simplify and transform CMA CGM's IT applications and improve customer service excellence. As part of this partnership and at the request of CMA CGM, Infosys will open a center for development and innovation in Marseilles…
Diana Enters TC Contract with Unico Logistics
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Unico Logistics, Seoul, for one of its Panamax dry bulk vessels, the m/v Maera. The gross charter rate is US$11,900 per day, minus a 5% commission paid to third parties, for a period of minimum nine months to maximum eleven months. The charter is expected to commence on September 19, 2017.
Scorpio Tankers Updates on Fleet Status
Scorpio Tankers sold and leased back, on a bareboat basis, three 2013 built MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto to Bank of Communications Financial Leasing in April 2017. The sales price was $29 million per vessel and the company bareboat chartered-in the vessels for a period of up to eight years at $8,800 per day per vessel. The international provider in the transportation…
SAR is Global Responsibility: IMO
Search and rescue (SAR) is a humanitarian process, aimed at assisting persons in distress, without regard to the nationality or circumstances of the persons in distress. International Maritime Organization (IMO) 's Chris Trelawny highlighted this global responsibility, during the first Coast Guard Global Summit, jointly hosted by the Japan Coast Guard and Tokyo-based Nippon Foundation, in Tokyo (14 September).
Indian Navy Evacuates Stranded Tourists from Havelock, Andaman and Nicobar
Tourists stranded in Havelock in the Andaman and Nicobar Islands following the cancellation of ferry service that had developed a defect have been evacuated by the Indian Navy. Due to the disruption of scheduled ferry service on 17 September, two naval ships were deployed at Havelock Island to provide passage to tourists. 24 tourists were accommodated onboard the ships and brought to Port Blair late night.