Global Trade Surge Fuel Oil Markets
Global trade is growing at the fastest rate for six years - which is both a symptom and a cause of the recovery in commodity markets. World trade volumes were up…
France, Italy Agree on STX Shipyard Ownership Split
The French and Italian governments have agreed on a shared ownership deal of the STX France shipyards, but with a clause giving France the right to take control if needed, Le Monde newspaper reported. Le Monde reported, citing an adviser to French President Emmanuel Macron, that Italian company Fincantieri could get 51 percent ownership, including a 1 percentage point stake lent to it by France, which France could take back. Italian state-owned shipbuilder Fincantieri declined to comment.
Container Lines Speed up Their Assault on Reefer Cargo
Container shipping lines are increasing their share of the seaborne reefer market and are forecast to accelerate their assault over the coming years, according to the latest edition of the Reefer Shipping Market Review and Forecast 2017/18 published by global shipping consultancy Drewry. In 2016, the estimated perishable reefer cargo split was 79% in reefer containerships and 21% in specialised reefers.
Polaris Orders 10 ‘Green’ VLOCs at Hyundai Heavy
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced today that it signed a $800 Million worth contract to build ten 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping, the domestic dry bulk owner and operator, on September 25. The contract is the largest single order in the last five years since HHI received an order of ten large-sized containerships from a Greek shipping company in 2012.
Navios Takes Delivery of Three Bulkers
Navios Maritime Partners, an international owner and operator of container and dry bulk vessels, announced today the delivery of three dry bulk vessels into its fleet. The Navios Symphony, a 2010-Chinese-built Capesize vessel of 178,132 dwt, was delivered on September 20, 2017. The vessel has been chartered out at a rate of $17,575 net per day until March 2018. The Navios Aster, a 2010-South Korean-built Capesize vessel of 179,314 dwt, was delivered on August 21, 2017.
BIMCO Launches Practical Guide to Support BWM Convention
BIMCO has launched a practical guide for shipmasters managing new ballast water management systems. It coincides with the entry into force of the IMO's Ballast Water Management (BWM) Convention. BIMCO’s new Shipmaster’s Ballast Water Manual provides clear, accessible information for seafarers dealing with practicalities of daily ballast water management. The manual covers all aspects of the Convention…
Collaboration for Future Ready Shipping
"No stakeholder, alone, can deal with the complexities the planet faces in addressing the challenge of climate change", said International Maritime Organization (IMO)'s Director of the Marine Environment Division, Stefan Micallef. He was opening the joint Singapore-IMO International Conference on Maritime Technology Transfer and Capacity-Building also known as Future-Ready Shipping Conference 2017, held in Singapore (25-26 September).
Indian Navy Commissions Waterjet Fast Attack Craft
INS Tarasa, a Water Jet Fast Attack Craft was commissioned into the Indian Navy by Vice Admiral Girish Luthra, Flag Officer Commanding-in-Chief, Western Naval Command at the Naval Dockyard, Mumbai on 26 September 2017. At an impressive commissioning ceremony, Vice Admiral Luthra expressed confidence that the new INS Tarasa will discharge her duties with élan and resolve, and bring laurels to the Western Naval Command and the Nation.
Kandla Port Renamed as Deendayal Port
The Indian Ministry of Shipping has issued a notification renaming Kandla Port Trust as Deendayal Port Trust with effect from 25th of September, 2017. Kandla Port, located on the Gulf of Kutch in Gujarat, is one of the twelve major ports in the country. As per the Ministry’s notification, the Central Government, in exercise of powers conferred on it under Indian Ports Act, 1908, made the amendment to replace “Kandla” with “Deendayal”.
US Denies Request for Puerto Rico Shipping Waiver
The Trump administration on Tuesday denied a request to waive shipping restrictions to help get fuel and supplies to storm-ravaged Puerto Rico, saying it would do nothing to address the island's main impediment to shipping, damaged ports. The Jones Act limits shipping between coasts to U.S. flagged vessels. However, in the wake of brutal storms, the government has occasionally issued temporary waivers to allow the use of cheaper, tax free, or more readily available foreign flagged ships.
Zvezda, Hyundai to Build Russian Aframax Tankers
A set of agreements between PAO Sovcomflot (SCF Group), Rosneft, the State Transport Leasing Company (STLC) and Zvezda Shipbuilding Complex will see the construction of five Aframax tankers for the export of crude oil and oil products from 2021. The 114,000 dwt vessels will be built by Zvezda jointly with technology partner Hyundai Heavy Industries (Republic of Korea). The tankers are purpose-designed to use liquefied natural gas (LNG) as their primary fuel and will have an ice class of 1A/1B…
LCS Program: Little Rock Delivered
Within the Littoral Combat Ship Program (LCS), the consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, has delivered Little Rock (LCS 9) to the U.S. Navy at FMM’s shipyard in Marinette, Wisc. Commissioning is planned for December in Buffalo, N.Y. Little Rock is part of a program started in 2010, which comprises 11 units, all fully funded…
Falck Safety Services, Simwave Partner on Training
Falck Safety Services and Simwave are joining forces to serve the maritime and oil and gas industries with combined simulation and practical training. For more than 30 years, Falck Safety Services has offered safety training for the offshore, maritime and wind industries. On November 8th, Simwave will open its doors to the most advanced maritime simulator center in the world. This co-operation means…
Netherland Hosts International Simulation-based Training Conference
Almost 200 delegates from across the world are gathered at the Grand Hotel Amrâth Kurhaus in Den Haag, The Netherlands this week to hear about the latest developments in maritime training based on state-of-the-art simulation technology. Kongsberg Group, the Norway-headquartered international knowledge-based company serving businesses in the maritime, defense, remote weapons and digitalization sectors…
ICS Chairman: Shipping Industry Focused on Serious CO2 Emission Reduction
“The world has great expectations for IMO delivering an ambitious greenhouse gas reduction strategy for the international shipping sector. This is the key message from Esben Poulsson, Chairman of the International Chamber of Shipping, speaking on the eve of IMO World Maritime Day, whose theme this year is ‘Connecting Ships, Ports and People’. Mr Poulsson stressed that ICS and its member national shipowners’…
Repeat NYC Ferry Business for Metal Shark
Metal Shark Building Four 350-Passenger Vessels and an Additional 150-Passenger Vessel for NYC Ferry. Louisiana-based shipbuilder Metal Shark is once again building multiple high-speed aluminum catamaran passenger vessels for the NYC Ferry Service Operated by Hornblower. In early August, Metal Shark received orders from Hornblower for four 97’ x 28’, 350-passenger USCG Subchapter K vessels, which are a new and larger platform than the fleet of 150-passenger vessels NYC Ferry currently operates.
Brookfield Completes Acquisition of Teekay
Teekay Corporation and Teekay Offshore Partners announced that they have completed their previously announced comprehensive transaction with Brookfield Business, together with its institutional partners (collectively Brookfield). “With this comprehensive transaction now completed, Teekay looks forward to working with Brookfield as co-sponsors of Teekay Offshore to support the Partnership’s continued growth,” commented Kenneth Hvid, Teekay’s President and CEO.
Logimatic, Eiger Marine Join for Fleet Management Solution
Logimatic has formed an alliance with Eiger Marine to market the most comprehensive and operational Fleet Management System to the shipping industry, in Greece and Cyprus. The partnership will offer customers in the maritime sector a complete software solution for Fleet Management: SERTICA. SERTICA provides integrated Maintenance, Procurement, and HSQE for easy and flexible vessel management. Eiger Marine is a process improvement solutions provider.
GOGL Sells 6 Vessels
Golden Ocean Group has announced that it has entered into agreements to sell six Ultramax vessels built at Chengxi between 2015 and 2017 en bloc for USD 142.5 million to an unrelated third party. The net cash proceeds from the sale after the repayment of $39.2 million of associated debt will be slightly in excess of $100 million. All vessels are expected to be delivered to their new owner during the fourth quarter of 2017.
FueLNG Completes First Commercial LNG Bunkering in Singapore
FueLNG, a joint venture between Keppel and Shell Eastern Petroleum (Pte) Ltd (Shell), has achieved the first commercial Liquefied Natural Gas (LNG) bunker transfer in Singapore by completing truck-to-ship bunkering for the Floating Liquefaction (FLNG) vessel, Hilli Episeyo. The LNG bunker transfer, which was carried out in batches from 22 July to 23 September 2017, was conducted in accordance with the Singapore Chemical Industry Council (SCIC) Technical Reference for LNG Bunkering (TR 56)…