International Seaways Acquires Six VLCCs
International Seaways has entered into a binding letter of intent to acquire the holding companies for six 300,000 DWT VLCCs with an average age of 1.7 years from Euronav NV in connection with the closing of Euronav’s announced acquisition of Gener8 Maritime, Inc. (GNRT). The purchase price for the six-vessel acquisition is $434 million, inclusive of assumed debt. The six vessels that INSW has agreed to acquire include five 2016-built VLCCs and one 2015-built VLCC…
GTT Bags Korean Order for Three New LNG Carriers
GTT has received an order from a South Korean shipyard regarding the design of the LNG tanks of 3 new LNG carriers. The deliveries are due in the first semester of 2020. GTT will design the LNG tanks of the units, each having a capacity of 174,000 m3. The tanks will be equipped with the membrane containment system Mark III Flex, a sea-proven technology developed by GTT. This insulation system guarantees a Boil-Off Rate of 0.085%V/day.
MPI Pact with Eneco for Prinses Amaliawindpark
MPI Contractors B.V. has signed a contract with Eneco Windmolens Offshore B.V. to provide offshore transport and lifting services during main component replacements planned for wind turbines in the Prinses Amaliawindpark. This Agreement, which will take effect on 1 January 2018, is for a period of five years, with options to extend for a further three and two years. During this period, MPI will mobilise one of its wind turbine installation vessels (WTIVs) for two planned campaigns per year.
EU Calls for A Single Market for Shipping
The single market is one of the most celebrated successes of the EU. It is a central element of the EU growth agenda. It is, however, clear that the single market remains incomplete and dysfunctional in some sectors. This is particularly true for shipping. Shipping remains disadvantaged compared to other transport modes. In many cases, goods transported by ships between EU ports lose Union status. This entails a heavy administrative burden, involving several authorities and intermediate parties.
Antwerp to Manage Port of Cotonou
Port of Antwerp International (PAI), the consultancy and investment subsidiary of Antwerp Port Authority, has been appointed by the Council of Ministers of the West African country of Benin to modernise the port of Cotonou. This port is the economic heart of Benin, handling an annual freight volume of around 12 million tonnes. In the longer term, the port authority wants the port to grow further, but both the infrastructure and the organization are outdated.
Ice-Breaking LNG Carrier for Yamal LNG Project Named Vladimir Rusanov
Mitsui O.S.K. Lines (MOL) announced that on December 21, a naming ceremony for an ice-breaking LNG carrier, which was jointly ordered by MOL and China COSCO Shipping Corporation Limited (China COSCO Shipping), was held at Daewoo Shipbuilding & Marine Engineering (DSME). As a crowd of VIPs and personnel related to the project looked on, the newbuilding vessel was named the "Vladimir Rusanov" by Ms. Veronika Makeeva of PAO Novatek, the major shareholder of the Yamal LNG project.
APL Receives Silver Sustainability Rating from EcoVadis
APL has been awarded the silver rating for its 2017 Corporate Social Responsibility performance by EcoVadis, a trusted name that provides supplier sustainability ratings for global supply chains. As the rating places APL among the top 30 percent of companies evaluated, it acknowledges APL’s continual sustainability achievements since earning a bronze rating for the same assessment in 2015. Nicolas Sartini…
Transocean Gets Statoil Contracts
Transocean announced that the harsh environment semisubmersible Transocean Spitsbergen was awarded a 22-well contract with an estimated duration of 33 months; plus two one-well options in the Norwegian North Sea with Statoil Petroleum ASA. The estimated firm backlog associated with the contract is approximately $286 million, which excludes opportunities for performance incentives. The contract is expected to commence in the third quarter of 2019.
Driver-less Ships: Autonomy in the Maritime Sector
In a show of prototypes, a pod of unmanned sailboats from around the world competes to cross “The Atlantic” test tank in Horten, Norway. Cross the real ocean, and the Sail Bots race similarly challenges scholarly robotic-vessel designers to North America for a bit of station-keeping, collision-avoidance and “cargo moves”. For all, the future seems bright — the first commercial runs of unmanned vessels are underway or scheduled worldwide.
UN: Fresh Oil Import Sanctions on North Korea
(Reuters) -- The U.N. Security Council on Friday unanimously imposed new sanctions on North Korea following its latest intercontinental ballistic missile test, a move that analysts said could have a significant impact on the isolated country's struggling economy. The resolution seeks to ban nearly 90 percent of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year and demands the repatriation of North Koreans working abroad within 12 months.
Wärtsilä’s ESS Reduces North Sea Giant's Costs
The technology group Wärtsilä has agreed to retrofit the world’s first energy storage solution on board a large offshore supply vessel. The North Sea Giant, one of the world’s largest and most advanced subsea construction vessels, will be fitted with an energy storage system that reduces the vessel’s energy consumption, operating costs and exhaust emissions. The retrofit energy storage system improves the operational efficiency and environmental footprint of the North Sea Giant…
Maritime Cyber Security: The Wrong Formula
For many industries, cyber security is about target hardening and perimeter defense. This makes sense, as cyber security is implemented in much the same way that physical security is implemented. We often think of it in terms of the medieval castle design, which translates to defense in depth in modern vernacular. This formula makes sense, as we can see and touch perimeter defense in physical security.
VARD Wins Shipbuilding Contract
Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of specialized vessels, has announced that it has secured contracts for the construction…
Meet the "GadCooler"
Ship cooling technology has a new name. Eminating from Finland, Gadcooler is a new ship cooling tech that is designed to save energy. Targeting the ferry and cruise ship sectors to start, the company recently announced its first installation success onboard Eckerö Line's cruise ferry m/s Finlandia over a period of two years. To help savve fuel the system uses existing onboard excess waste heat sources to provide chilled cooling water for the vessel's air-conditioning needs…
Cars Transported by Sea up 5% in '17
Clarksons Research on the oceangoing car carrier sector finds that 20.5 million cars were expected to be traded by sea in 2017, up by 5% year-on-year. Further Clarksons found that the overall global car carrier fleet was expected to grow slowly in full year 2017, to 781 vessels or 3.96 million car equivalent capacity. The current car carrier orderbook is at 6% of the fleet in capacity terms and $2.1 billion in contract value…
Diana Announces Time Charter
Diana Containerships Inc. (NASDAQ: DCIX), has, through a separate wholly-owned subsidiary, entered into a time charter contract with Wan Hai Lines (Singapore) Pte Ltd.
Vessel Salvage Ops Continue in Puerto Rico
The Hurricane Maria ESF-10 Puerto Rico response team continued Wednesday assessing and removing storm-ravaged vessels from targeted sites throughout the island. Crews conducted boater outreach in Isleta Maria, and surveys in Ponce and Cabo Rojo. Salvage crews also conducted dive assessments in Isleta Maria and crane-barge operations in Puerto Chico. Additionally, the team on Monday removed the last of five vessels targeted for removal in Las Croabas.
KOTUG: Flying Drones for Safer Tug Operations
Netherlands based towage operator KOTUG said it is exploring new ways to use aerial drone technology in its tug operations, as part of a plan to achieve safer and more efficient working conditions. While interest in drone technology has been gaining momentum in the maritime sector, stakeholders continue to explore new applications, from aerial deliveries to surveying and inspection. KOTUG has applied for a patent for its new plan…
Navigating Through The Dark Winter Months
We are fast approaching the shortest day of the year, when we can begin to look forward to longer days and shorter nights. However, winter is far from over, and we’ve still got many more dark, overcast and gloomy days and nights ahead. Having high performance navigation lights at this time of year is essential. Of course there is navigation during the nights to consider, and then you need to ensure the safety of those travelling by your offshore assets and through your harbors…
Australia Finds Wreck of First Allied Submarine to Sink in WW I
Australia has discovered the wreck of its first submarine off the coast of Papua New Guinea, authorities said on Thursday, resolving one of the country’s oldest naval mysteries after more than a century. The submarine, AE-1, was the first Allied vessel to sink during World War One, while patrolling for German warships in 1914, in circumstances that have never been established. The Australian Navy and…