Euronav Reports Lowest Freight Rates since 2013
Belgian tanker operator Euronav reported a sharp drop in core profit for the first nine months of the year as freight rates in the oil tanker sector continued to fall. Excess tonnage in the global tanker market has put pressure on freight rates, as a large wave of new deliveries this year has offset scrapping. "Freight rates remained under sustained pressure ... particularly in August as seasonally…
I-Tech AB Recognized with Innovation Award
I-Tech AB has been recognized as the technology innovation leader in the European marine biocides market, resulting in the company receiving the 2017 Technology Innovation Award from Frost & Sullivan. Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. Based on its recent analysis of the European biocides market…
Wheatstone LNG Facility Exports First Cargo to Japan
Australia's Wheatstone liquefied natural gas (LNG) project, after starting production earlier this month, has shipped its first export cargo to a buyer in Japan, majority owner and operator Chevron Corp said on Tuesday. Wheatstone is the sixth out of eight projects in a $200 billion Australian LNG construction boom that is now in its final stretch. The two remaining project due to for start-up are Royal Dutch Shell's Prelude floating LNG project and Ichthys, led by Japan's Inpex.
Ultra-silent Propulsion for New Research Vessel
When the Faroe Islands Marine Research Institute’s new research vessel enters operation in mid-2020, research personnel on board will be able to carry out their tasks with greater effectiveness thanks to a high-tech, ultra-silent propulsion package from Wärtsilä. The new 54-meter-long ship, which is being built at the MEST shipyard in the Faroes for the Faroese Government organization, will feature…
Boskalis Bags Long-term Dredging Contract
Royal Boskalis Westminster N.V., together with a Cypriot partner, has been awarded a contract for long term maintenance dredging works in the Middle East. Boskalis…
A Turning Point in Oil Spill Recovery
Cleaning up marine oil spills can be a challenge as there are various types of oil spilled but only a few effective recovery methods. The three main technologies for oil spill recovery for inland and offshore waters are mechanical, insitu burning (ISB), and dispersant application. Absorbent booms and pads may also be used, but they are more effective for small fuel spills. Mechanical recovery, usually an oil skimmer…
Voices: John Haeflinger, Carnival Corp.
While the cruise industry grows globally in earnest, this maritime niche is under the microscope like no other, operating high profile, high design billion dollar ships in and out of some of the most pristine places on the planet. Tasked to keep the company’s ships running efficiently and environmentally sound is John Haeflinger, VP of maritime policy and analysis, who directly oversees the sustainability team at Carnival Corp.
UK’s Second River Class OPV Named
The second of five new River Class Offshore Patrol Vessels for the U.K. Royal Navy was officially named during a ceremony at BAE Systems’ site at Scotstoun, Glasgow. Guests watched on October 20 as Lady Wendy Fallon, HMS Medway’s sponsor and wife of Defense Secretary Sir Michael Fallon named the 2,000-metric-ton, 90-meter-long vessel. In keeping with Royal Navy tradition Lady Fallon pressed the button that released a bottle of Dockyard Gin from the Copper Rivet Distillery in Chatham…
Keel Laid for First Virgin Voyages Ship
A keel laying ceremony was held at Fincantieri’s Sestri Ponente shipyard in Genoa, Italy for the first of three new cruise ships to be built for the Virgin Group’s new cruise line arm Virgin Voyages. The ceremony was attended by Richard Branson, founder of Virgin; Tom McAlpin, President and CEO of Virgin Voyages; Alberto Maestrini, Fincantieri General Manager; Giovanni Toti, President of the Liguria Region; Marco Bucci, the mayor of Genoa; and other authorities.
Focus on Piracy Prevention at Djibouti
A high-level workshop in Djibouti has seen an exchange of ideas on preventing a resurgence of piracy in the West Indian Ocean and Gulf of Aden, as well as addressing other transnational organized crimes at sea that threaten the security of navigation. The event (29 October) was hosted at the Djibouti Regional Training Centre, which is part-funded by International Maritime Organization (IMO) and supports…
DryShips Adds Third VLGC
DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has taken delivery of the previously announced high specifications third newbuilding Very Large Gas Carrier (VLGC). The VLGC will be employed under a time charter on a fixed rate with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million.
MPA, Shell Shipping Sign MOU
The Maritime and Port Authority of Singapore (MPA) and Shell Eastern Trading (PTE) LTD (Shell) have signed a Memorandum of Understanding (MOU), to cooperate in the research and development and test-bedding of projects within the maritime industry in areas of clean fuel technologies, automation and digitalisation. Under the MOU, MPA in partnership with Shell, will collaborate on the following key areas: Developing innovative solutions to reduce emissions in the port…
ABS Expands Owner Options in Italy
ABS has been authorized as a Recognized Organization (RO) for Italy, giving the organization the ability to carry out statutory reviews and certifications on behalf of the Italian Flag Administration. “This authorization strengthens our offering to Italian flag vessel owners and provides a compelling option as they consider their classification and RO partner,” says ABS Chairman, President and CEO Christopher J. Wiernicki.
Arjen Uytendaal Suceeds Francis Vallat as President of ENMC
Francis Vallat, originally co- founder and 1st Vice-President of the European Network of Maritime Clusters (ENMC), which was created in 2005 in his Paris office, and current Chairman since 2011, decided to resign from his chairmanship on the occasion of the annual meeting which was held in Elsinore, Denmark from October 25th to 26th. After six years at the head of the network, he thinks it is time…
Euronav: VLCC Order Book Expands
The challenging freight market during the third quarter came despite some encouraging signs with active scrapping of vessels returning (nine VLCCs scrapped plus one removed from fleet for FPSO project; six Suezmax scrapped during the third quarter) incentivized by a steel price at near three-year highs, says Euronav NV. This was supported by continued upgrades to crude oil demand with the IEA raising its forecast for 2017 from 1.2 mbpd to 1.6 mbpd over the course of the third quarter and U.S.
Van der Velden Assists Green Award Ships in Going Greener
Green Award Foundation has announced a new incentive provider joining the scheme. A new supporter of the international certification scheme offering discounts on various products and services to Green Award certified inland and ocean-going ships is Van der Velden Marine Systems B.V., one of the market leaders in the supply of high quality steering gear, rudders and hydraulic systems to the entire maritime sector.
Seaspan Appoints Bing Chen As Chief Executive Officer
Seaspan Corporation announced that Bing Chen will be joining the Company as its Chief Executive Officer (CEO), and appointed to the Board of Directors in January, 2018.
KVH Launches New High-speed Maritime Network on Intelsat
KVH Industries announced the launch of its next-generation, advanced maritime broadband network, joined by service partner, Intelsat. Slated for commercial availability next month, KVH’s high-speed overlay to its current mini-VSAT Broadbandsm service is expected to triple, and in some cases increase by a multiple of six, the data speeds for its maritime customers. At the core of its capabilities, KVH’s…
KVH TracPhone V7-HTS System Delivers Maritime Broadband
An advanced, 60 cm marine satellite antenna system designed to consistently deliver the fastest data speeds globally to the maritime market will be unveiled tomorrow by KVH Industries, Inc., at the Fort Lauderdale International Boat Show, in Florida. The TracPhone V7-HTS achieves data download speeds of up to 10 Mbps, three times faster than current 60 cm models on the market, including KVH’s own system, and fast enough to enable the streaming of HD-quality content at sea.