Fincantieri to Delist Vard
Italian shipbuilder Fincantieri has proposed to seek the privatization of Vard Holdings via a voluntary delisting from the Singapore Exchange Securities Trading Limited (SGX-ST). Fincantieri, which holds a 79.34 per cent stake in Vard through a subsidiary Fincantieri Oil & Gas, is now offering 25 Singapore cent per for every share it does not own, one cent more than its previous offer, which closed in January.
ICS & CMI Update Campaign on Maritime Treaty Ratification
The International Chamber of Shipping (ICS) – whose member national shipowner associations represent over 80% of the world merchant fleet, and the Comité Maritime International (CMI) – the international association for maritime lawyers, have released an updated brochure to promote the importance of governments ratifying international maritime conventions, especially those adopted by the UN IMO. The…
Major Revamp at Stena Bulk
Stena Bulk is reorganising its business activities into three business areas: Crude & Fuel, Products & Chemicals and LNG and have appointed two new managing directors. At the same time, its business activities previously conducted under the name of Stena Weco are being coordinated and incorporated into Stena Bulk. Additionally, a new office in Copenhagen will be opened in the next few days. As a result, the company will leave its office in Rungsted, which until now has been used by Stena Weco.
USS Donald Cook Departs Aksaz, Turkey
The Arleigh Burke class guided missile destroyer USS Donald Cook (DDG 75) departed Aksaz, Turkey, Nov. 9 after conducting a regularly scheduled port call. While Donald Cook was in port, Sailors attended multiple planning sessions, a reception for participants and a press conference for exercise Dogu Akdeniz 2017. After departing Aksaz, the ship and crew participated in a photo exercise for Dogu Akdeniz. "Our time in Aksaz was a great experience," said Cmdr.
APM Terminals Pier 400 Los Angeles Sets New Single Vessel Record
APM Terminals Pier 400 Los Angeles has established a new single vessel cargo operations record during the call of the 13,600 TEU capacity Maersk Evora, with a combined total of 24,846 TEUs loaded and discharged over a 128-hour period. This performance eclipsed the previous record of 18,500 TEUs handled during the call of a similarly-sized vessel at the Port of Rotterdam in 2015. The Maersk Evora arrived at APM Terminals Pier 400 Los Angeles on October 19th…
TEN Completes Fleet Expansion
Tsakos Energy Navigation Ltd (TEN) has reported the delivery of the ice-class Aframax tanker Bergen TS, the last in the 15-vessel, pre-employed on long-term business, growth program, which increased the size of TEN's fleet by 30 percent over the last 18 months. With 65 vessels fully operational, the fleet's minimum revenue backlog comes to $1.3 billion with average contract duration of 2.5 years. "With the largest growth in the company's history…
Protecting Mauritania’s Marine Park
A particularly sensitive sea area (PSSA) is an area of special ecological, socio-economic or scientific importance which may be vulnerable to international shipping. To date, International Maritime Organization (IMO) has designated 17 areas which benefit from the scheme and are protected. IMO Member Governments can submit applications for the designation of PSSAs at any time. Representatives from IMO…
Eye-share Partners with Eiger Marine
Eye-share and Eiger Marine form a partnership to offer the best invoice automation system to maritime customers in Greece and Cyprus. Eye-share partners with Eiger Marine. This partnership forms part of our strategy to partner and co-operate with leading providers of business process improvement solutions for the maritime sector in order to reach new, important customer segments. The alliance will…
India Pushes for Inland Waterways Project on River Ganga
The Inland Waterways Authority of India (IWAI) has awarded a contract to a reputed consultant for technical support services for the Multi-Modal Terminal at Haldia and new Navigation Lock at Farakka. These projects are part of the Jal Marg Vikas Project (JMVP) on National Waterway -I (River Ganga), being implemented with technical and financial assistance of the World Bank at an estimated cost of Rs. 5369 Crore (USD 819million).
Port Corpus Christi to benefit from LNG partnership with China
Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest…
KHI to increase new builds in China
Kawasaki Heavy Industries will move more of its commercial shipbuilding operations from Japan to China. It aims to reduce its production in Japan from 40% of all builds to 25% in a bid to increase profitability. The company currently operates a shipyard outside Shanghai in a 50-50 partnership with China's Cosco Shipping. The shipyard, Nantong Cosco KHI Ship Engineering, is located in Jiangsu Province along the Yangtze River and is much larger than Kawasaki's Japanese facitlity.
Powerful Fireboat Enters Service in Long Beach
Vigilance, the second of the Port of Long Beach’s two new fireboats, was officially brought into service at America’s second busiest port on Monday, and together with its twin Protector (delivered in 2016), will replace fireboats Challenger and Liberty that entered service in the late 1980s. Vigilance and Protector, designed by Robert Allan Ltd. and built by Foss Maritime Co., cost a combined $51.6 million. Jensen Maritime Consultants served as construction manager.
Dellner to Expanded Product Range to US Market
Dellner Brakes, fresh off acquiring U.S. brake and clutch specialist Gummi USA, said it will present its expanded range of power transmission products to the U.S. marine market at the International Workboat Show (IWBS) from November 29 to December 1. Since the acquisition announced in September, the enlarged business is already starting to work together under one umbrella and the company’s U.S. stock…
MV Kobi Ruegg Joins Fugro Survey Fleet
A 58-meter, multi-role survey vessel MV Kobi Ruegg has joined Fugro’s fleet and is set to begin her first project in the Egyptian sector of the Mediterranean Sea. Working on behalf of Saipem, Fugro will deploy its large diameter piston core system to collect soil samples in the Zohr gas field; geophysical surveys for Pico and Shell will follow. Having previously operated in the Gulf of Mexico for Fugro…
Bilden Joins HII Board of Directors
Philip M. Bilden has been elected to Huntington Ingalls Industries’ (HII) board of directors, effective November 7. Bilden retired last year as a co-founding member of the private equity firm HarbourVest Partners. He began his career in Boston in 1991 and relocated to Hong Kong in 1996 to establish the firm’s Asian subsidiary. Throughout his 25-year tenure at HarbourVest Partners, Bilden served in senior leadership roles in the firm’s global management…
China, Philippines to Draft Protocol to Avoid Maritime 'Miscalculations'
China and the Philippines will negotiate a military protocol to avoid maritime “miscalculations”, Manila’s defence minister said on Wednesday, following a brief…
Delfin Taps China for US FLNG, but Final Investment Decision 'Challenging'
Delfin Midstream, developing the first floating facility to export U.S. natural gas, has sealed a preliminary 15-year sales deal with city gas distributor China Gas Holdings, Delfin founder and Chief Executive Officer Frederick Jones said. But industry veteran Jones told Reuters in an interview that Delfin is also tapping unnamed Chinese banks to fund its ambitious $8 billion as the current global supply overhang in liquefied natural gas (LNG)…
Marine Fuels: Unmasking Gas
A primer on the way forward for alternative fuels for marine propulsion. By now, many of us have been passed by a garbage truck, taken a ride on an airport bus or hailed a taxi cab that is clearly labeled by their respective marketing departments that these vehicles are powered by clean burning natural gas. Even now in our own maritime industry, some trendy operators are looking to make the case for liquefied natural gas (LNG) propulsion systems…
Hans Beele's Mission to Build Sealing Valley
Sealing Valley is a new concept that has been developed by Hans Beele, President of Dutch engineering specialist Beele Engineering. He will invest in a center of expertise for the advancement of fire protection and watertight sealing technology to provide the highest possible levels of safety. Modeled on Silicon Valley, Sealing Valley will create a concentrated center of know-how, with shipboard and marine safety a prime focus area.
Marine Piping: It's Not Rocket Science
Anything but unconventional, Viega piping products and systems provide uncommon time savings and safer repairs, leading to a better bottom line. The maritime industry, over time, has been unusually resistant to change in many aspects of how it operates. Arguably, the ‘biggest’ advances on the water spanning a five decade period leading up to the beginning of the new millennium could be measured in terms of deadweight tonnage and/or the length of a particular class of hulls.