Emissions Regulations Present Strategic Opportunity
The marine industry as a whole is responsible for about 2.5 percent of global greenhouse gas emissions. Shipbuilders and fleet owners have spent the last two decades adjusting to shifting emissions regulations since the introduction of the MARPOL Convention 1997 Protocol, which included specific regulations for the reduction of air pollution from marine vessels. Since then, there have been additions and amendments to ensure that the industry is doing its bit to better support the environment…
Maktec Signs On Round-the-world Record Attempt
Team Britannia, the organization behind the latest attempt to set the world-record for sailing around the world in the fastest time, has appointed Yorkshire-based Maktec Marine to provide technical support for its engine fuel and oil performance. Maktec Marine founder Mark Cornforth said the challenge is to beat the current world-record holder New Zealander Pete Bethune’s time of 60 days 23 hours 49 minutes for the 23,000 mile voyage.
US Navy to Commission LCS Little Rock
The U.S. Navy will commission its newest Freedom-variant littoral combat ship (LCS), the future USS Little Rock (LCS 9), during a December 16 ceremony at the Canalside waterfront in Buffalo, N.Y. The future USS Little Rock is the 10th littoral combat ship to enter the fleet and the fifth of the Freedom-variant design. It is the second warship named for the Arkansas state capital and will be commissioned alongside the first USS Little Rock (CL 92)…
Exxon, Petrobras Form Alliance to Develop Oil, Gas Projects
Exxon Mobil Corp and Petróleo Brasileiro SA, Brazil's state-controlled oil producer also known as Petrobras, said on Thursday they had formed an alliance to develop energy projects around the world.
Harris Pye Sold to Joulon Group
The Harris Pye Engineering Group, global specialists in the provision of repairs, upgrades and conversions to the marine, offshore oil and gas, and associated onshore industrial sectors, has been acquired by the Joulon Group. Joulon was created in partnership with KKR, the global investment firm to acquire well established companies globally. The investment in Joulon comes from multiple funds managed or advised by KKR.
Africa Maritime Cooperation Centre Launched
Africa has launched its maritime technology cooperation centre as part of an ambitious International Maritime Organization (IMO)-EU project to establish a global network of centres to further global efforts in addressing climate change. The centres will act as regional focal points for a wide range of activities including improving compliance with existing and future international energy-efficiency regulations…
Safe Bulkers Acquires a Post-Panamax Class Dry-Bulk Vessel
Safe Bulkers, an international provider of marine dry-bulk transportation services, announced today that it has acquired a 92,000 dwt, South Korean 2010 built, dry-bulk, Post-Panamax class vessel at an attractive price. The vessel is a sistership of the Company’s two existing South Korean Post-Panamax class vessels. The acquisition was financed from cash on hand. Dr. Loukas Barmparis, President of…
Hapag-Lloyd Bullish on Mexico
After evaluating performance in 2017, the German shipping line serving sectors such as pharmaceuticals, the automotive industry and the technology sector in Mexico expects maritime shipping volumes to experience double-digit growth in 2018 and foresees a continuous increase in cargo volumes. On holding its annual meeting with Latin American leaders in Mexico, the shipping line Hapag-Lloyd pointed to…
Keeping the Red Sea Clean
In continuing its work to keep the oceans clean, International Maritime Organization (IMO) encourages member countries to ratify and enforce the London Protocol to prohibit dumping at sea. As part of such efforts, a seminar was held in Djibouti City, Djibouti (11-13 December) on implementing the London Protocol. The workshop introduced participants from Djibouti and Somalia to the benefits of protecting…
Navios Completes Acquisition of Four Containerships
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced today that it has taken delivery of four 2008-built Panamax containerships. These vessels are employed on charters with a net daily charter rate of $27,156. The charters expire in 2020 and are expected to generate approximately $70.0 million of EBITDA, assuming expenses approximating current operating costs and 360 revenue days per year.
MPA Pumps $8.9 Mln More into Singapore's LNG Bunkering
The Maritime and Port Authority of Singapore (MPA) has injected another S$12 million (US$8.9 million) to boost liquefied natural gas (LNG) bunkering in the Port of Singapore. Half of this S$12 million has been set aside to co-fund the building of new LNG bunker vessels to facilitate the development of ship-to-ship LNG bunkering in the Port of Singapore. The remaining half will be used to top up MPA’s existing co-funding program to support the building of LNG-fuelled vessels.
BIMCO, CIRM Propose Software Maintenance Standard for Shipping
BIMCO and the international association for the marine electronics industry, CIRM (Comité International Radio-Maritime), have sent the industry’s first proposal for an industry-wide standard for software maintenance to the IMO for consideration. Without an industry-standard, BIMCO sees an increasing risk of severe incidents on ships, delays and costs to shipowners and cyber security problems. "We hope the entire industry will adopt these standards…
ECSA, UK Chamber Urge Speedy Brexit Trade Negotiations
The European Community Shipowners’ Associations (ECSA), of which the UK Chamber is a member, have sent a letter to the EU’s chief negotiator Michel Barnier, urging the EU for “rapid and positive” progress in trade talks with the UK. The European Council is currently engaged in a key vote on whether the next stage of negotiations will commence. ECSA represents shipowners from both sides of the Channel…
INS Kalvari Commissioned into the Indian Navy
The Prime Minister of India, Narendra Modi commissioned INS Kalvari (S-21), the first of the six Scorpene class submarines built under Project 75 (Kalvari Class) into the Indian Navy at an impressive ceremony held at Naval Dockyard, Mumbai on 14 December 2017. The event marked the formal induction into the Navy of the first of the six submarines being constructed at Mazagon Docks Ltd., in collaboration with the French builder M/s Naval Group.
Det Norske Veritas is DNV GL's Majority Owner Now
The Foundation Det Norske Veritas (DNV) assumes full ownership of DNV GL and remains committed to Maritime headquarters in Hamburg. Stiftelsen Det Norske Veritas (The Foundation) and Mayfair announce the sale of Mayfair’s 36.5% shares in DNV GL Group AS to DNV Holding AS. The agreement regarding the leading quality assurance and risk management company DNV GL was signed on 8 December 2017. In 2012…
New Automatic Filter Unveiled: aquaBoll
German filtration systems specialist Boll & Kirch Filterbau GmbH has presented its new concept for fully automatic water filtration: the aquaBoll automatic filter series, which increases overall plant efficiency and ensures greater efficiency. Germany's Consul General in Shanghai, Dr. Christine Althauser, joined BOLL & KIRCH CEO, Stefan Starke, in unveiling the latest product innovation – the aquaBoll automatic backwash filter – at the Marintec China trade show.
LNG Tankers Divert to China as Winter Demand Spikes
China's LNG demand soars as tankers from the Americas divert to China. Liquefied natural gas (LNG) is being re-exported to China from Japan and tankers are being diverted from as far away as Brazil, with traders rushing to find cargoes in the face of a supply crunch in the world's No.2 economy as winter bites. Following an unprecedented drive to switch millions of households to natural gas from coal for heating…
SM Line Selects Intellian V100 VSAT Antennas
Maritime satellite antenna systems provider Intellian announced that its V100 maritime VSAT antenna has been chosen by SM Lines to power its ships’ data and communications, and enable its IoT (Internet of Things) freight monitoring system. Internet-enabled physical objects that can process, receive or store information are enabling providers who can illuminate the supply chain’s blind spots to improve productivity…
Asian LNG Spot Prices Jump after European Gas Outages
Asian liquefied natural gas (LNG) spot prices jumped this week in reaction to volatile price spikes on European gas markets and ongoing demand from the region's major consumers. Spot prices for January delivery hit $10.50 per mmBtu, 40 cents above last week, with February prices seeing similar levels. In a tumultuous week, European gas prices gyrated wildly following a flurry of major pipeline and production outages coinciding with high demand and freezing weather.
USCG Begins Icebreaking in the Western Great Lakes
U.S. Coast Guard Sector Sault Sainte Marie has commenced icebreaking Operation Taconite in response to expanded ice growth in the commercial ports of western Lake Superior and the lower St. Marys River. Before ice impedes commercial navigation, icebreakers were assigned to each region. U.S. Coast Guard Cutter Alder was assigned to manage the ice breaking needs of western Lake Superior, specifically the twin ports of Duluth, Minn., and Superior, Wisc., as well as the Port of Thunder Bay, Ont.