Samsung Heavy Bags USD 197 Mln LNG Carrier Order
South Korean shipbuilder Samsung Heavy Industries (SHI) has bagged a KRW 210 billion (USD 195 million) deal, for construction of an liquefied natural gas (LNG) carrier. A report in Business Korea said that SHI will ink the contract with a foreign shipping company by the end of the year, Samsung Heavy Industries officials said. The name of the company, however, remained undisclosed. SHI reportedly said it is a “foreign company”.
India to Flag Off Cargo Via NW 2 on River Brahmaputra
Nitin Gadkari, Indian Union Minister of Shipping will flag off the first movement of cement cargo through National Waterway (NW) 2 on River Brahmaputra in Assam today, under the Shipping Ministry’s flagship programme Sagarmala. He will also lay the foundation stone for bank protection work of Majuli Island tomorrow. Assam Chief minister Shri Sarbananda Sonowal, will also be present on the occasion.
NITC Signs 200 Tanker Charter Deals
The National Iranian Tanker Company (NITC) has signed over 200 leasing contracts for its vessels since the lifting of the Western-imposed economic sanctions two years ago, Financial Tribune reported on Thursday. The report quoted Iran Tanker Company's Chief Executive Officer Sirous Kianersi saying that from the easing of the sanctions (in January 2016) until the end of last month, foreign companies signed 215 time-charter and single-voyage deals for NITC tankers.
STX Corp to Be Sold to Chinese Firm
AFC Korea, a subsidiary of Chinese private equity fund AFC, has been selected as the preferred bidder for cash-strapped STX Corp, according to a Business Korea report. AFC Korea has reportedly offered a price tag above 70 billion won (US$65.62 billion) for an 86.28 percent stake owned by STX creditors. STX creditors include Korea Development Bank (KDB), which holds a 39.59 percent stake, and NongHyup, which has 10.07 percent.
India's 12 Major Ports Capacity Increased to 1,359 MT
The Ministry of Shipping has re-rated the capacities of all berths across 12 Major Ports in order to benchmark port capacities with global standards as per Berthing Policy, 2016. The Re-rating exercise identified an additional capacity of 293MT available with the Major Ports. The effective rated capacity of 12 Major Ports is now 1,359 MT per annum and capacity at desired occupancy is 989 MT per annum.
China's Ningbo-Zhoushan Becomes World's Top Port
China's super-large port Ningbo-Zhoushan, the busiest port in China, saw an annual cargo throughput of 1 billion tonnes, becoming the first one globally to reach this volume, according to data provided by the port. The port in East China's Zhejiang province deepened cooperation with major shipping companies and harbors along the Belt and Road, adding five sea routes to raise its total to 86. It also signed cooperation agreements with 20 other ports…
FLEX LNG Sings TC for First LNGC Newbuilding
FLEX LNG announced that it has entered into a time-charter contract for the LNG carrier newbuilding, Flex Endeavour, to Uniper Global Commodities, a leading international energy company with operations in more than 40 countries, and headquarter in Germany. Flex Endeavour is a state-of-the-art 173,400 m3 cargo capacity LNG carrier equipped with the new high efficiency MEGI propulsion system. The Vessel is currently under construction at DSME, South Korea.
Star Bulk to Repay Debt Principal
Star Bulk Carriers announced that, in light of the improved performance of the Company and the dry bulk market in general, it is planning to make debt principal repayments that are in total at least equivalent to the amortization payments scheduled prior to the commencement of debt amortization holidays. The repayment will start from January 1st 2018, under the “cash sweep” mechanism incorporated in its loan agreements.
The World's Top 20 Cruise Ports
Calling all cruise ports! Maritime Logistics Professional are compiling the world’s Top 20 Cruise Ports - and we want to hear why your port should be considered. Just answer a few simple questions and you will be on your way to being featured in the next edition of Maritime Logistics Professional. The winners will be published in the January with distribution at Seatrade Cruise Global in Fort Lauderdale. Enter your port today! To enter visit: https://goo.gl/tSzHN6
Trump Troubled About Oil Flow into North Korea
U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter. China earlier on Thursday said there had been no U.N.
Famous 16-Foot Great White Shark Gone Missing
Mary Lee, the 16-foot Great White Shark that has had Twitter in a frenzy the past few weeks, has gone missing – electronically speaking. According to Ocearch, a conservation group set out to track and collect date from tiger and great white sharks, said her transmitter hasn’t had a “ping” since June 17, and no one has seen or heard from her since. Fans on twitter have been speculating her death, but never fear, it is more likely her tracker has lost battery power.
LNG: Maritime's Fuel of the Future
The move to LNG as fuel in the maritime sector picks up steam, as CMA CGM announced plans to outfit nine of its new 22,000 TEU containerships with LNG fueled engines. A trend that started in the United States is spreading to the world, as global containershipping giant CMA CGM announced its intention to outfit its series of new 22,000 TEU containerships with LNG-fueled engines. The move to ‘clean fuel’ in the maritime sector has been rapid…
SUNY Maritime Plots its Financial Course
On December 21, Rear Admiral Michael Alfultis, president of SUNY Maritime, signed two agreements setting SUNY Maritime College on a new course for success. The College and the Fort Schuyler Maritime Alumni Association are now partners for the benefit of the College, its students and its alumni. On the same day, the SUNY Maritime Foundation was launched publicly to support the College’s strategic initiatives, to expand its reach and to support its goal of developing additional resources.
Coast Guard Responds to Grounded Vessel in St. Lawrence Seaway
The U.S. Coast Guard and the Saint Lawrence Seaway Development Corporation are responding to the motor vessel Pacific Huron, loaded with soybean, that ran aground…
Ship of the Year: MOL FSRU Challenger
MOL FSRU Challenger is Maritime Reporter & Engineering News' Great Ships of 2017. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery of MOL FSRU Challenger the world largest floating storage and regasification unit (called FSRU Max vessel) from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co., Ltd.
Maritime's Digital Transformation & Simulation-based Training
Nearly 200 delegates from across the world gathered in Den Haag, The Netherlands in September 2017 to hear about the latest developments in maritime training based on state-of-the-art simulation technology. The three-day Kongsberg UC2017 International Maritime Simulation User Conference brought attendees up to date on developments in digitalization, maritime training, navigation technology, maritime operations simulation and the use of virtual reality in training. Tom Mulligan reports.
Colonial Pipeline Demand at 2-Month Nadir
Demand to ship gasoline on Colonial Pipeline has sunk to a two-month low as Gulf Coast supplies are increasingly being exported or sent to the Midwest rather than to the New York harbor, three sources familiar with the matter said on Wednesday. Colonial Pipeline Co, the largest U.S. fuel network, has consistently allocated space for at least the past two months, meaning demand has exceeded capacity on the pipeline.
Coast Guard, Partner Agencies Respond to NYC Ferry Grounding
Coast Guard and partner agency crews responded to a ferry aground with 27 people aboard near Rockaway Inlet, New York, Wednesday evening. The Flyer, an 80-foot New York City Ferry became stuck on a sandbar after departing from the Rockaway terminal at 5:15 p.m., en route to Wall Street’s Pier 11 at approximately 5:30 p.m. Boatcrews from Coast Guard Station New York, and Station Sandy Hook arrived on…