Frontline Posts Q3 Loss as Tanker Rates Hit 4-year Low
Frontline q3 net loss $24.1 million. The current crude oil tanker rate environment does not presently reflect that strong demand. Shares down 4.8 pct at 0840 GMT vs fall of 0.3 pct in Oslo's benchmark share index.
Inmarsat Opens New Norwegian Office
Satellite communications company Inmarsat has opened a new office at the Norwegian Maritime Competence Center (NMCC) based in Ålesund, Norway, to continue to drive the digitalization of the shipping industry. The opening of the facility in the heart of Norway’s leading edge maritime community, signals Inmarsat’s intention to intensify work with third party innovators and digital disrupters to exploit high-speed broadband via Fleet Xpress through its Certified Applications Provider (CAP) program…
Iconic USS Ranger Dismantled
A two-year project to dismantle and recycle the decommissioned U.S. Navy vessel USS Ranger (CV-61) has recently concluded. Ordered in 1954 and commissioned in 1957, the Ranger was the first U.S. carrier vessel built as an angled-deck ship from inception. She served in the Pacific, the Indian Ocean and the Persian Gulf, and earned 13 battle stars for her service in the Vietnam War. During her 37 years of service…
Saudi-led Coalition to Reopen Hodeidah Port
The Saudi-led military coalition fighting against the Houthi movement in Yemen said on Wednesday it would allow aid access through the port of Hodeidah and United Nations flights to Sanaa airport.
Frontline Calls for Consolidation among Oil Tanker Firms
The global market for crude oil tankers remains too fragmented and needs consolidation among owners, one of the industry's leading companies said on Wednesday. Oslo-listed Frontline, the oil shipping arm of billionaire investor John Fredriksen, also said the market for crude carriers is expected to remain weak until the second half of 2018. "The tanker market is highly fragmented with many owners who have one or two vessels…
Connectivity for Brown Water Operations
Growing options emerge for ever-increasing data and Comms demand. In the United States alone, 625 million tons of cargo is transported along the more than 12,000 miles of commercially navigable waterways each year, moving vital commodities to and from 38 of the nation’s 50 states. The advent of subchapter M has raised the bar significantly for as many as 5,000 inland vessels, both in terms of safety and the need to document and more closely control this tonnage.
New Grease Extends Life, Lowers Temp of Tugboat Shaft Bearings
How does a tugboat operator with over 26 vessels used in docking, escort, ocean towing and articulated barge service get control of maintenance issues? In this case, by switching to Klüberplex BEM 41-132 grease to lower operating temperatures between 2 and 10 degrees Fahrenheit (3.6 and 18 Celsius), which significantly extends grease and bearing life. The tugboat business’ success depends on the reliability of their assets and the ability to provide superior customer service.
How Augmented Reality Technology Could Transform Shipping
Augmented Reality (AR) is predicted to be the next technology game-changer to improve business processes and employee performance and it’s no wonder many companies are getting excited about its potential. While virtual reality completely immerses people in a computer-generated world, AR overlays computer-generated images on the real world. A great example of how AR combines the imaginary with the real world is in the hugely popular AR game Pokémon Go…
Voices: Howard Fireman, SVP & CTO, ABS
As industry increasingly evolves on the digital transformation path, inevitably the focus turns to the move toward cloud computing. Last month Maritime Reporter & Engineering News spoke with Howard Fireman, SVP and Chief Technology Officer of the American Bureau of Shipping (ABS) for take on how industry innovators – large and small – in the shipbuilding and marine equipment sectors are leveraging inherent advantages of cloud computing to better position themselves for the competitive long-haul.
Fairbanks Morse Names Getgen Marketing VP
Power solutions provider Fairbanks Morse announced that Kimberly Getgen has joined the company to spearhead global go-to market strategy and initiatives. As vice president of strategic marketing…
India to Establish Center of Excellence in Maritime and Ship Building in 2 Cities
A world class Center of Excellence in Maritime and Ship Building (CEMS) is being set up by Ministry of Shipping in collaboration with Siemens and Indian Register of Shipping (IRS) under the Ministry’s flagship Sagarmala Program. CEMS will have campuses at Vishakhapatnam and Mumbai, and will provide industry-relevant skill development, equip students with employable engineering and technical skills…
Iceland Accedes to Air Pollution Treaty
The International Maritime Organization (IMO) treaty covering the prevention of air pollution from ships has been ratified by Iceland, bringing the total number of contracting States to 89, and representing more than 96% of world merchant shipping tonnage. The MARPOL Annex VI treaty limits the main air pollutants contained in ships exhaust gas, including sulphur oxides and nitrous oxides, and prohibits deliberate emissions of ozone depleting substances.
Antwerp Port Acquires NMP
Antwerp Port Authority is to acquire Nationale Maatschappij der Pijpleidingen (NMP) from its current shareholders Ackermans & van Haaren and Electrabel. With the takeover Antwerp Port Authority will gain ownership and control of 720 km of pipelines, 90% of which serve the chemical and petrochemical companies in the port of Antwerp and its hinterland. The Port Authority is paying 44 million euros for the NMP shares.
European Shipowners Welcome CO2 Emissions Trading System
Intensive negotiations came to an end two weeks ago when the European Parliament, the Council of Ministers and the European Commission reached a provisional agreement on the reform of the emissions trading system, which today was approved by the Member States. “European shipowners have a strong interest to decarbonise the industry and we think it is the right decision that the EU will leave regulation of shipping’s CO2 emissions to the International Maritime Organization”…
French Smart Port in Med
The members of the Smart Port steering committee collectively approved a first series of projects that will take advantage of the digital transition to affirm and consolidate the port-based vocation of the Aix-Marseille-Provence urban area. With this dynamic, Marseille Fos, the French Smart Port in Med is being built! During a steering committee meeting including representatives of the government…
Gulf Marine Eyes Acquisitions
Gulf Marine Services (GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, is looking at acquisitions due to opportunities in the market, reported Gulf News. GMS, which supports the oil and gas and renewable energy sectors with barges, has a fleet of fourteen vessels that help in offshore oil and gas platform refurbishment and maintenance activities…
OOCL Scandinavia Unveiled
In Orient Overseas (International) Ltd (OOCL)’s series of six ‘G Class’ containerships on order at the Samsung Heavy Industry (SHI) shipyard, we are pleased to introduce the newest and fifth 21,413 TEU containership, named the OOCL Scandinavia, into our fleet of world trade ambassadors. The OOCL Scandinavia will be joining her sister vessels on our LL1 service, linking major markets in China and Northern Europe together. In commemoration of this milestone at OOCL, we are very honored that Mr.
'Piece Prize' Spreads Hope through Europe
Mark Fuhrmann, a 60-year-old Canadian born father of three living in Norway since 1986, has completed a 5,400 km kayak journey from Oslo to Athens, stopping in cities along the way to reward silent heroes with a modest Piece Prize, and promote positive values, actions and thoughts. Silent heroes can be anyone of any age. They may run community organisations, be involved with charity work, be a friend to those in need…