Summit Signs Floating LNG Facility Contract
Summit LNG Terminal, a subsidiary of Summit Power International, signed a USD 100 Million turnkey contract with marine work contractor consortium comprising of Geocean SAS and MacGregor for design, engineering, procurement, fabrication, installation and testing of the Fixed Infrastructure (FI) for its Floating LNG Storage and Regasification Terminal (FSRT) at Moheskhali, Cox’s Bazar. The project completion date is 16 months from the time of signing.
CMA CGM Adds 4 Vessels Under French Flag
CMA CGM has announced four additional ships under the French flag. The first among these will be a 20,600 TEU containership which will be named as CMA CGM Antoine de Saint Exupery. The other three vessels under French flag will be 22,000 TEU ships powered by liquefied natural gas (LNG). CMA CGM Antoine Saint Exupéry, with expected delivery in in early 2018, is to pay homage to the pioneer of Aeropostale…
France to Boost LNG Usage in Shipping
France will modify regulations on the natural gas to allow liquefied natural gas (LNG) bunkering to take place at ports, Reuters reported quoting Prime Minister Edouard Philippe. He said the country will consider changing fiscal rules on amortising investments in new ships or engine technology. “We have to use this (energy) transition to differentiate ourselves on the market - in transport and in port services,” he said.
LNG Market Outlook by Flex LNG
The LNG shipping market tightened throughout the third quarter, and rates increased sharply in October following gradual increases since May. This was due in part to strong LNG demand from China which helped to widen the arbitrage between spot LNG import prices in Europe, U.S. and Asia. This led to increased cargoes from the Atlantic basin and an associated increase of average sailing distances. The…
Navios Holdings Now Controls a Fleet of 64
Navios Holdings controls a fleet of 64 operating vessels totaling 6.6 million dwt, of which 38 are owned and 26 are chartered-in under long-term charters. The fleet consists of 21 Capesize, 23 Panamax, 18 Ultra Handymax and two Handysize vessels with an average age of 8.3 years. As of November 1, 2017, Navios Holdings has chartered-out 66.6% and 11.2% of available days for the remaining three months of 2017 and 2018, respectively (excluding index and profit sharing days).
Diana Shipping Reports 3Q Loss of $24.5 Mln
Greece-based Diana Shipping inc. on Tuesday reported a loss of $24.5 million in its third quarter of of 2017. Its net loss attributed to common stockholders was $25.9 million. This compares to a net loss of $78.3 million and net loss attributed to common stockholders of $79.8 million for the third quarter of 2016. The loss is including an $8.4 million impairment loss on the m/v Melite which was sold…
Hapag-Lloyd Adds Low Carbon Refrigerant Containers from Maersk
To maintain and expand its container fleet, Hapag-Lloyd, a global container line, has purchased 3,700 Star Cool Integrated containers as part of their recent reefer investments from Maersk Container Industry (MCI). Of these, 1,000 Star Cool units will be chilled by the environmentally friendly R513A refrigerant system with a Global Warming Potential (GWP) of less than 56 percent of the commonly used R134A refrigerant.
Gazprom, Shell Discuss LNG Projects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg. The meeting addressed relevant aspects of strategic cooperation. Particular attention was paid to joint efforts in the liquefied natural gas (LNG) sector. The parties discussed the construction project for…
Cosco Energy Transportation to Buy New Tankers
Cosco Energy Transportation has entered into the Agreements with Dalian Shipbuilding Industry Company Limited for the construction of the Very Large Crude Carriers (VLCCs) and the Suezmaxs. The total consideration for the construction of the VLCCs and the Suezmaxs is RMB 3.67 billion (USD 88.5 million). The consideration is determined by reference to the market price of crude oil tankers ranging in sizes from 280…
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…