Golden Ocean Adds New Vessels
Golden Ocean Group Limited (GOGL) announced that it has entered a deal to acquire two Capesize bulk carriers from affiliates of Hemen Holding Limited at a purchase price of $43 million per vessel.
Wärtsilä to Power Viking Line Ferry
Wärtsilä will supply the engines, the navigation system and a broad scope of other products and systems for a new luxury and environmentally friendly ferry being built for the Finland based operator, Viking Line. The ship is being built at the Xiamen Shipbuilding Industry yard in China and there is an option for a second vessel. The order with Wärtsilä was booked in October 2017. Six Wärtsilä 31DF…
Suez Canal Authority, DP World Present Sokhna World Zone
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and Chairman of the Suez Canal Economic Zone (SCZone), presented details of the recent agreement to develop an integrated industrial and residential zone at Sokhna in Egypt to investors and businesses in Dubai. The opportunities to invest and launch operations in the project were outlined to company representatives…
VPS Expands Lubricant Oil Condition Monitoring Services
The marine fuels testing company Veritas Petroleum Services (VPS) announced the latest expansion of the company’s lubricant oil condition monitoring (OCM) service. In the company’s continuous drive to offer its customers a widening range of technically advanced, value-added services, VPS have made a significant financial investment to equip their Rotterdam Laboratory with the very latest analytical technology, automation and robotics for the testing of lubricants.
Wartsila Propulsion System for New NMDC's Dredger
Wärtsilä supplied the full propulsion package for National Marine Dredging Company's (NMDC) new, state-of-the-art Trailing Suction Hopper Dredger (TSHD) launched in September. The 6,000 m3 capacity TSHD was designed by the IHC shipyard in the Netherlands in close cooperation with NMDC. The customized solution combines a shallow draft and a deep dredging depth with high manoeuvrability. The vessel has been specially designed to operate in high ambient temperatures…
Finland's Manga LNG Terminal Gets First Cargo
The first shipload of liquefied natural gas (LNG) arrival to the LNG import terminal in Tornio, Finland, on Sunday November 19, 2017. The Manga LNG natural gas import terminal in Röyttä Harbor, Tornio, is a joint venture of the industrial companies Outokumpu and SSAB Europe, the energy company EPV Energy and the LNG company Skangas. LNG was shipped to the terminal by Coral Energy, a time-chartered LNG carrier operated by Skangas.
Arctic LNG Carriers Delivered: RS Class
The construction of a series of Arctic LNG carriers under the technical supervision of Russian Maritime Register of Shipping (RS) is in progress: in November “Boris Vilkitsky” and “Fedor Litke” gas carriers were delivered to the customer and the keel of a new gas carrier was laid. A series of 15 LNG carriers unique in design, is being constructed as part of the implementation of the large-scale RF liquefied natural gas production project Yamal LNG.
A Sea Change for Shipbuilding
When it comes to shipbuilding, the numbers are staggering: hundreds of millions of parts in one aircraft carrier. Billions of dollars proposed for Naval fleet development in the latest NDAA. Hundreds of thousands of private sector jobs in the U.S. alone. A 2015 MARAD report, for example, pegged the total economic impact associate with the industry at 400,000 jobs, $25 billion in labor income, and 37 billion in GDP (based on data from 2013).
Bouchard Set to Celebrate a Century
In 2018 one of the U.S. premier vessel owners – Bouchard Transportation Co., Inc. (BTC) – celebrates its 100th year in business. Maritime Reporter looks at BTC’s evolution through the years. The year 2018 is a celebration year for the Bouchard Transportation Co., Inc., which was founded in 1918 in New York Harbor by Capt. Frederick Bouchard, and will next year celebrate a century in business. The company’s first cargo was a shipment of coal, and its first oil barge was acquired in 1931.
Suspected Pirates Apprehended off Somalia
Six suspected pirates were apprehended by the European Union’s antipiracy force off the coast of Somalia. EU NAVFOR Somalia’s flagship, the Italian vessel ITS Virginio Fasan, detained six crew and their vessels following reported attacks on a 52,000 metric ton containership and a fishing vessel over a 24 hour period on November 17 and 18 in the Southern Somali Basin. During the incidents a number of rocket propelled grenades were fired against the containership…
ABB Ability Marine Pilot Vision Unveiled
ABB has unveiled a new situational awareness solution that aims to make vessel operations safer and more efficient. The solution can be used by officers anywhere onboard a ship and marks the next step towards remotely controlled and ultimately autonomous ships. ABB Ability Marine Pilot Vision takes advantage of the latest advances in sensor technology and computer vision to offer multiple real-time visualizations of a vessel’s surroundings and new ways of perceiving its situation.
Langh Tech Scrubbers, EGR Water Treatment for New Box Ships
Three container vessels on order at Guangzhou Wenchong Shipyard in China for Eimskip Island ehf and Royal Arctic Line A/S will be equipped with Langh Tech hybrid scrubber systems and water treatment systems for exhaust gas recirculation (EGR). The newbuilds are of a new energy-efficient design developed by Deltamarin. The in-line scrubbers are multi-inlet installations, where the main engine and auxiliary engines are connected to the same scrubber tower.
The Challenge of Marine Asset Appraisal
While large shipping asset deals are often financed through the major capital markets, loans for most oilfield service marine equipment are funded with asset based lending. For such asset based lending, a domestic U.S. bank, with some exceptions, will be asking for an appraisal that is compliant with the Uniform Standards of Professional Appraisal Practice (USPAP). Due to blatantly false appraisals that caused the collapse of the savings and loan industry in 1988…
Five Requirements for Safe Ops
As I write this article I am flying back to my home base in Canada from the 42nd annual Interferry conference in Split, Croatia. Interferry is an outstanding conference full of dedicated and passionate ferry operators and those who serve the industry. One presentation was delivered by Captain John Wright, a Master Mariner who has spent his career in the maritime industry in a variety of roles including vessel master, marine superintendent, chief executive and general manager.
ZIM Pilots Blockchain-based Bill-of-lading
ZIM said it has successfully completed a trial run of paperless bills-of-lading based on blockchain technology. The pilot, performed in cooperation with Sparx Logistics and Wave Ltd., marks a first of its kind project led by an ocean carrier. Trial participants issued, transferred and received original electronic documents using Wave’s free blockchain-based application, which uses distributed ledger technology to ensure all parties can issue…
INEOS to Ship US Ethane to China in 2019
U.K. chemicals firm INEOS said it has entered a long-term supply agreement with Singapore-based SP Chemicals to ship ethane from U.S. shale gas to China for the first time starting in 2019. “This is another world first for INEOS after importing shale gas to Europe in 2015,” said David Thompson, CEO of INEOS Trading and Shipping. “By bringing in U.S. The deal involves the construction of a 95,000cbm capacity Very Large Ethane Carrier (VLEC)…
Maritime Technologies Incubator Launched in New York
The newly formed Maritime Global Technologies Innovation Center (MGTIC) is a collaborative incubator hosted at SUNY Maritime College that sets out to foster technology developments in the maritime space through entrepreneurial innovations. “Shipping interests exist in an increasingly complex environment and are impacted by new problems every day. At the same time, entrepreneurs and researchers seek to remedy these problems,” said MGTIC co-founder Dr.
New Patrol Boat Delivered in Minnesota
Lake Assault Boats said it has delivered a 28-foot rescue vessel to the Hennepin County Sheriff’s Water Patrol Unit located in Minneapolis, Minn. Purchased from the General Services Administration (GSA) Schedule, the vessel will assist in rescue and recovery operations along the Mississippi River. The vessel is powered by a pair of Mercury Verado 300 hp engines with digital throttle, shift and power steering, as well as the Mercury Joystick Piloting and Skyhook Digital Anchoring systems.
Philly Shipyard Completes Tanker Series for APT
Philly Shipyard, Inc. (PSI) has delivered American Pride, the final vessel in a series of four 50,000 dwt product tanker newbuilds for American Petroleum Tankers (APT)…
Talos, Stone Energy Plan $2.5 Bln Merger
Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create…