ShipServ Appoints New Executive Management
Maritime e-procurement platform ShipServ said it has made new appointments at an executive management level, setting out to develop and deliver a range of new products and features in 2018 to help customers realize the opportunities of increased digitalization within the shipping industry. ShipServ’s former executive vice president and chief legal officer, Mikael Weis has moved into the position of COO…
JA Moody Acquires Pima Valve
Acquisition expands operational capabilities to include design and manufacturing and demonstrates commitment to U.S. based manufacturing sector. Moody says that it will provide a broader suite of products for its marine and commercial customer base. JA Moody, a privately held family business with its headquarters in Malvern, PA, that has been distributing valves and actuators to the U.S. DOD and commercial entities for 65 years…
Vietnamese Boat Refugees, Rescuers Reunited at SUNY Maritime
Five years after the U.S. withdrew from Vietnam, life was unbearable for those who fought beside their American allies. Seven-year-old Lauren Vuong and her family had no choice but to escape. They left under the cover of night, cramming 62 people into a small wooden boat in a life or death gamble. After 10 days of storms, they were lost at sea and nearly out of food, water and fuel. In those waning hours of hope, the American-flagged LNG Virgo spotted and rescued them.
Brent Crude at 27-month High Even as U.S. Exports spike
Saudi Crown Prince takes bullish stance on supply cut deal; U.S. crude inventories show surprise build even as crude exports hit new record four-week average. Brent crude closed at a 27-month high on Thursday as the market focused more on comments from Saudi Arabia about ending a global supply glut instead of an unexpected increase in U.S. crude inventories and high U.S. production and exports. Brent futures gained 86 cents…
Astomos and Elgas to Study LPG as Shipping Fuel
Tokyo-based Astomos Energy Corporation and , Australia’s leading LPG marketer and distributor have signed a Memorandum of Understanding(MOU) for the further study of LPG as a ship bunker fuel(LPG bunkering). LPG bunkering is a possible solution to meet the International Maritime Organization (IMO) shipping fuels SOx limit of 0.5% from 2020. This MOU will enhance cooperation between Astomos and Elgas across all aspects of LPG bunkering including the sharing of information…
Spot LNG Shiping Fleet's Operating Loss US$230m in 2017
The pressure on LNG shipping spot rates will continue for another year on account of strong fleet growth. However, rates should strengthen from 2019 as fleet growth slows and trade remains strong, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Spot rates (East of Suez) for modern LNG vessels averaged $33,000pd in the nine months to September 2017, an increase of 5% compared with the same period last year.
IMO Promotes Fishing Vessel Safety
When it comes to fishing vessel safety, the mission is clear, says Sandra Allnutt of the International Maritime Organization (IMO): enhance safety to save lives. “We want to reduce loss of life in one of the most dangerous professions in the world, and we want to enhance safety on board fishing vessels,” said Ms Allnutt, Head of Maritime Technology in IMO’s Maritime Safety Division, following a regional seminar…
USS Ashland Assists Distressed Mariners in Pacific Ocean
The Sasebo-based amphibious dock landing ship USS Ashland (LSD 48) rendered assistance to two distressed mariners, Oct. 25, whose sailboat had strayed well off its original course. The mariners, Jennifer Appel and Tasha Fuiaba, both from Honolulu, and their two dogs had set sail from Hawaii to Tahiti this spring. They had an engine casualty May 30 during bad weather but continued on, believing they could make it to land by sail.
Naviera Armas Buys Trasmediterranea from Acciona
Acciona has reached an agreement to sell its 92.7% stake in Trasmediterranea to the Naviera Armas Group. Acciona's stake is being sold for 260.4 million euros, and the buyer will assume 127.3 million euros of debt owed by Trasmediterranea to Acciona group companies. The final price could increase by up to 16 million euros as a function of the combined group's future EBITDA performance. This transaction sets the company's enterprise value (100%) at between 419 and 436 million euros.
Maritime Security for Sustainable Development
A gathering of navy chiefs from around the world have heard how effective, joined-up and forward-looking maritime security can be key to an efficient maritime sector, and, therefore, national and regional economic development. Forty-seven navies, including 29 Chiefs of Navies, and 11 international and national organizations participated in the XI Venice Regional Seapower Symposium in Italy (17-20 October)…
Volumes Up at Ports of Stockholm
All Ports of Stockholm freight segments increased during the first three quarters of the year in comparison to the same period of 2016. More and more goods are being transported by sea, directly to the growing Stockholm region. Over the first nine months of 2017 freight volumes increased substantially at Ports of Stockholm. This rise can be seen across all segments; ferry freight, containers and bulk cargo. “Freight volumes have increased considerably at all Ports of Stockholm ports.
Wison Inks LNG Tie-up with GTT
China’s Wison Offshore & Marine has signed a strategic cooperation agreement with GTT, a provider of design and engineering of containment systems for maritime transportation and storage of LNG. Pursuant to the agreement, both parties will conduct a cooperation work on various LNG projects, such as LNG Carrier, LNG FSRU (Floating Storage Regasification Units), FLNG (Floating LNG unit) or other LNG floating unit with GTT membrane tanks.
GTT Bags Samsung Heavy Order for FSRU
GTT, leading engineering company in containment systems for the shipping and storage in cryogenic conditions of LNG (liquefied natural gas) announces a new order from South Korean shipyard Samsung Heavy Industries (SHI) regarding a Floating Storage and Regasification Unit (FSRU). GTT will design the LNG integrated tanks. Its delivery is scheduled in late 2020. This contract is the sixth FSRU order obtained by GTT this year. GTT has already managed the new build of over 40 LNGC and FSRU.
Massachusetts Takes Delivery of New Fast Ferry
The Massachusetts Bay Transportation Authority (MBTA) has taken delivery of Champion, the first of two new 150-passenger, high-speed catamarans built by Gladding-Hearn Shipbuilding, Duclos Corporation. The new vessels – funded by a grant from the Federal Transit Administration (FTA) – will operate year-round commuter service in Boston Harbor, in addition to two high-speed ferries built by the Somerset, Mass., shipyard in 1997.
India's Coastal Shipping to Get a Boost
The Indian Ministry of Shipping has sanctioned Rs 25 Crore (USD 3.84mln) as Grants-in-aid to Jawaharlal Nehru Port Trust and another Rs 50 Crore (USD 7.68mln) to the Government of Karnataka for Karwar Port, for developing their infrastructure, under the Coastal Berth Scheme of its flagship program Sagarmala. The Coastal Berth Scheme aims to provide financial support to ports or state governments for creation of infrastructure for movement of cargo and passenger by sea or national waterways.
IMO Moving Towards a Global Climate Agreement
The International Maritime Organization (IMO) has taken its second step towards a global climate agreement for shipping. After a week of negotiations, the member States return with much homework before the final negotiations in April 2018, when the initial strategy is to be adopted. The IMO member States agreed this summer on a structure for the initial climate strategy involving, inter alia, the setting…
EU's CLINSH Project Monitoring Phase Begins
The vessels which will take part in the CLINSH project (CLean INland SHipping) have been selected. Their emissions will be closely monitored during the two-year project, part of the European Union’s LIFE programme. The vessels are to test various emissions-reducing technologies including the use of alternative fuels. The data gathered will provide valuable information about their environmental performance and the operating costs.
Keeping the Task Group on Task
With no commercial floating petrol stations in the middle of the ocean, Royal Australian Navy ships and helicopters rely on specialised replenishment ships for all their fuel needs. Underway refuelling is called replenishment-at-sea (or RAS), which requires a number of complex manoeuvres that requires ships to maintain a steady course and speed for a number of hours. The Australian Navy has two underway replenishment ships…
Denmark's Stricter Regulations for Vessels
To increase safety at sea, requirements will be introduced for a personal watercraft certificate and insurance as well as improved possibilities of imposing sanctions after accidents involving personal watercraft, powerboats and similar vessels, said Danish Maritime Authority (DMA). Today, the Danish Government has submitted a bill for consultation to increase the safety of persons involved in recreational activities at sea.
MOL on Next-generation Ship Management Support System
Mitsui O.S.K. Lines (MOL) announced that MOL and Mitsui Engineering & Shipbuilding have been jointly developing practical use applications and commercialization of the "next-generation ship management support system" and the current data collection and monitoring systems, providing the basis for an advanced new system, have upgraded the functionality. This initiative will allow enhanced operating support from shore-side systems and personnel.