Top Ships Gets TC Extension for Four Vessels
TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence. The Company expects a total gross revenue backlog associated with these time charter extensions of $27.4 million.
British Ports Association Sets Priorities for 2018
The Chief Executive of the British Ports Association (BPA), Richard Ballantyne, has outlined the Association’s key priorities for 2018. These include continued interaction and influencing on the Brexit discussions, promotion of planning and freight policy reform, calls for increased transport connectivity investment and the rectification of the ‘definition of a ship’ legal anomaly. Discussions with…
GTT to Design LNG Tanks for Korean Shipyard
GTT received at the end of 2017 an order from a South Korean shipyard regarding the design of the LNG tanks of a new LNG carrier. Its delivery is scheduled for the first quarter of 2020. GTT will design the LNG tanks of the unit, allowing for a capacity of 174,000 m3. The insulation solution Mark III Flex has been chosen for its ability to reduce the daily guaranteed Boil-Off gas rate to 0.085% of tank volume. 48 vessels in service already benefit from this technology.
UK Shipping Minister Confirms CEC Review
Nautilus International has welcomed confirmation from shipping minister John Hayes that the government has agreed to the Union’s calls for a review of the UK’s system for issuing Certificates of Equivalent Competency (CECs). Nautilus is a trade union and professional organisation representing more than 22,000 maritime professionals in the UK, Netherlands and Switzerland. In a letter to the Union, the minister said he had asked Sir Alan Massey…
Hyundai Heavy Sets 2018 Sales Target $7.5 billion
South Korea's leading shipbuilder Hyundai Heavy Industries (HHI) aims to achieve 7.98 trillion won ($7.5 billion) in sales this year as its president warned of an unprecedented crisis due to declining order backlogs, reports Yonhap. Hyundai Heavy has not won any offshore plant orders for the past two years. The company's 2018 sales target represents a 60 percent decline from a decade ago. The shipyard said it is expected to post an estimated 10.03 trillion won in sales for 2017.
India Okays Revised Concession Pact for Projects at Ports
India's Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved amendments in the Model Concession Agreement (MCA) to make the Port Projects more investor-friendly and make investment climate in the Sector more attractive. The amendments in the MCA envisage constitution of the Society for Affordable Redressal of Disputes - Ports (SAROD-PORTS) as dispute resolution mechanism similar to provision available in Highway Sector.
Hutchison Ports Acquires 50% Stake in TMA
Hong Kong's Hutchison Ports has acquired a 50% shareholding in Amsterdam-headquartered terminal and logistics operator TMA Logistics. TMA has a variety of general cargo terminal operations together with warehousing, shipping, logistics and project cargo activities at three sites in Amsterdam and one in Antwerp as well as at Hutchison Ports Amsterdam (former known as Amsterdam Container Terminal). Commenting on the acquisition…
Great Lakes Towing, Shipyard to Hire 100
The Great Lakes Towing Company and Great Lakes Shipyard have announced plans to hire 100 employees before the end of January 2018 to support continued growth driven by client demand. The company said it is seeking candidates to fill a wide range of positions, including shipyard welders, shipfitters and more. “At The Towing Company, we’re looking for great people to join our team,” said Joe Starck, the company’s president.
Coast Guard Frees Vessels Frozen on the Hudson
The U.S. Coast Guard helped free two vessels beset by ice in the Hudson River this week as frigid temperatures in the U.S. Northeast continue to hamper the region’s commercial shipping. A Coast Guard icebreaker vessel freed tug Stephanie Dann near Kingston, N.Y. on Tuesday, as well as the tug Brooklyn stuck in ice near Saugerties, N.Y. on Sunday. The 140-foot icebreaking tug Coast Guard Cutter Penobscot…
Matson Increases Neighbor Island Barge Capacity
Matson, Inc. said its subsidiary Matson Navigation Company, Inc. has replaced one of its three barges dedicated to serving Hawaii's neighbor island ports with a newer…
Washington State Sued for Blocking Coal Exports to Asia
A company that planned to build a coal export terminal in the Pacific Northwest to ship western U.S. coal to Asian markets sued the state of Washington on Wednesday for blocking construction last year. Lighthouse Resources Inc filed a lawsuit in federal court against Washington Governor Jay Inslee and two state regulators for allegedly violating the U.S. Constitution's commerce clause by denying permits to allow the company to ship coal mined in Wyoming…
Shipbuilding: $13.3 Mln Awarded for R&D Projects
The National Shipbuilding Research Program’s (NSRP) Executive Control Board has selected a new round of research and development (R&D) projects aiming to spur technology advancements in order to reduce costs associated with shipbuilding and ship repair in the U.S. The seven projects – valued at over $13.3 million, including cost share – were selected from those proposed in response to research announcement issued in July 2017, and are outlined below.
Weeks Marine Takes Delivery of Hopper Dredge Magdalen
Weeks Marine’s new self-propelled hopper dredge, Magdalen, was delivered by Eastern Shipbuilding on December 22 following sea trials and regulatory inspections. The newbuild is one of the two newest, and among the largest hopper dredges in the U.S., and will bring formidable pumping power to offload beach quality sand or other materials for land reclamation. On December 28, the new dredger sailed from Eastern's Allanton facility in Panama City, Fla. on her maiden voyage to the East Coast.
US Firm Expects MH370 Search Contract Soon
U.S.-based seabed exploration firm Ocean Infinity on Wednesday said it was moving a vessel closer to a possible search area for missing Malaysia Airlines flight MH370 as it soon expects to be awarded a contract by Malaysia to resume the search. The disappearance of the aircraft en route from Kuala Lumpur to Beijing in March 2014 with 239 people aboard ranks among the world’s greatest aviation mysteries.
Ten Crew Missing as Cargo Ship Sinks off Shanghai
Ten crew members were missing after a cargo vessel collided with another vessel in Wusongkou anchorage at Shanghai, China’s state-owned Xinhua News Agency reported, citing the Shanghai Maritime Search and Rescue Centre. Three people had been rescued, and the search for missing crew members was continuing, Xinhua said. (Reporting by Ruby Lian and Ryan Woo; Editing by Simon Cameron-Moore)
Royal IHC Acquires KCI from Oceanteam
Dutch supplier of vessels, equipment and services for the offshore, dredging and wet mining markets Royal IHC said it has acquire all of the outstanding share capital…
Navigating the New Norm
It is not business as usual in the world where we do business. Things are changing. Even regulations themselves are changing from less prescriptive in nature to more performance-based. As Chairman, President and CEO of a global classification and technology-centric company that operates in 70 countries with 5,000 employees, I am continually assessing the impact of these changes on the capabilities ABS needs to fulfill its mission and maintain its leadership position in the maritime…
Tech File: Bulk Barge Cargo Transfer Systems Solution
Pontchartrain Materials Company finds innovative solution for barge unloading applications. Located in New Orleans, La., Pontchartrain Materials Corporation, LLC provides aggregates to general contractors as well as asphalt and ready-mix companies. In addition to their chief product, limestone, the family-owned company sells recycled concrete and recycled asphalt. Pontchartrain sources the material from quarries in northern states…
Canada Fines another Vessel for Speeding
Transport Canada has issued a $6,000 fine to the owner of Panama flagged bulk carrier Federal Cardinal after the supramax vessel allegedly failed to comply with vessel speed restrictions in the Gulf of St. Lawrence. In August Canada put in place a temporary mandate for vessels of 20 meters or more to slow to a maximum of 10 knots due to the increased presence of whales in the western Gulf of St. Lawrence…
China to top Japan as World's Biggest LNG Importer
Pollution fight drives surge in pipeline, LNG imports but Japan remains world's biggest importer of LNG. Beijing's crackdown on pollution has put China on track to overtake Japan this year as the world's biggest importer of natural gas, used to replace dirtier coal. China - already the biggest importer of oil and coal - is the world's third biggest user of natural gas behind the United States and Russia…