LNG Shipping Charter Rates Under Pressure in 2018: Drewry
Increasing vessel supply will keep LNG charter rates under pressure in 2018, despite strong growth in trade, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Drewry’s short-term outlook for LNG charter rates remains pessimistic because of the high fleet growth rate compared with demand. The fleet is expected to expand by 11% because of high deliveries and low demolition activity.
Driving the Digital Ecosystem
As one of the most important megatrends this decade, digitalization is already moving beyond the concept of connectivity and data gathering towards a greater and more integrated future where the entire industry coexists as one digital ecosystem. As this vision becomes a reality, we will see a new era of partnerships, knowledge sharing, and AI-led practices. Disruptive technologies and ground-breaking projects have begun to transform the maritime landscape…
Polaris Commences Icebreaking in Bothnian Bay
Liquefied natural gas (LNG) powered icebreaker Polaris has left its home base in Helsinki on Tuesday to become the third Finnish icebreaker active in this year’s icebreaking season. The nearly 110-meter-long Polaris is the world’s first LNG powered icebreaker, running on both LNG and marine diesel. The vessel will head to Tahkoluoto, Pori, to bunker LNG before joining fellow icebreakers Kontio and Otso which departed on December 18, 2017 and January 9 respectively.
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto…
Alaska Requests Limits on US Offshore Drilling
Alaska Governor Bill Walker said on Tuesday he has asked U.S. Interior Secretary Ryan Zinke to pare back a Trump administration plan for oil and gas leasing off the state's coast. While Walker supports offshore oil development, he said the Interior Department should focus on the most prospective areas off Alaska – the Beaufort and Chukchi seas in the Arctic and Cook Inlet in southern Alaska – and drop all others from the leasing plan.
French Coastguard Searches for Quiksilver Boss Missing at Sea
The French coastguard on Tuesday searched for Pierre Agnes, the chief executive of U.S. surfwear retailer Boardriders Inc, after his 36-foot (10.97 m) sailboat was…
Rolls-Royce to Upgrade PSVs with Battery Packs
Six offshore platform supply vessels (PSVs) built and then laid up by the Cosco Guangdong yard in China will be equipped with battery-powered energy systems from Rolls-Royce Commercial Marine before going to work for SEACOSCO. The six vessels are among eight that were laid up at the shipyard after being ordered in 2013 and 2014 that were recently taken over by SEACOSCO, a joint venture between SEACOR Marine Holding and China Cosco Shipping Group.
SEA\LNG Rolls Out LNG Bunkering Navigator Tool
A new free-to-access online tool aims to improve understanding of the current, and rapidly evolving, bunkering infrastructure landscape for liquefied natural gas (LNG). Launched by industry coalition SEA\LNG from the sixth LNG Bunkering Summit currently taking place in Amsterdam, the new Bunker Navigator Tool utilizes member, marine information services and publicly available data to provide access to the latest developments in the global LNG bunkering infrastructure.
Amver LNG Carrier Makes a Rescue
The crew of Amver participating liquefied natural gas (LNG) carrier Stena Crystal Sky recently rescued of two sailors stuck in severe weather approximately 1,000 miles southwest of Cabo San Lucas, Mexico. U.S. Coast Guard rescue personnel received notification from the Garmin/Inreach Emergency Call Center that the 23-foot sailboat, on a voyage from Cabo San Lucas to the Marquesas Islands had experienced difficulties and lost auto-steering after encountering severe weather.
Finnlines Continues to Add Capacity
Finnlines said it is continuing capacity expansion efforts in response to growing volumes. The Baltic Sea ro-ro and passenger vessels operator has purchased MS Europalink as reports further progress in its vessel lengthening program. Finnlines Plc’s fully owned Swedish subsidiary, Rederi Aktiebolaget Nordö-Link, has purchased a Star class passenger-freight vessel, MS Europalink, from the Grimaldi Group in accordance with an earlier signed purchase agreement.
Britain Reviewing Risks to its Satellite-Reliant Infrastructure
Britain is reviewing its reliance on satellite-based technology for critical infrastructure including the Global Positioning System (GPS) as the threat of jamming attacks and disruptions grows, a government report said on Tuesday. Emergency services, transport, communications and financial networks are among key sectors which depend on Global Navigation Satellite Systems (GNSS) such as GPS. Such technology needs accurate and reliable position and timing signals.
[Brief] Ningbo Marine Sees FY 2017 Net Profit Up 70%
Ningbo Marine Co Ltd: * Says it sees net profit for FY 2017 to increase by 70 percent * Says the net profit of FY 2016 was 88.4 million yuan * Comments that increased waterbailage income a
Cosco Shipping Expects to Swing to Net Profit in 2017
Cosco Shipping Holdings Co Ltd says it expects net profit of about 2.7 billion yuan in 20117 versus net loss of 9.9 billion yuan a year ago. (Reporting by Hong Kong newsroom)
Viking Life-Saving Equipment is ‘Polar Code Ready’
It’s been a full year since the International Maritime Organization (IMO) launched the Polar Code to enhance the protection of seafarers and the environment in Arctic and Antarctic regions. As ship owners and operators now work to ensure compliance, Viking Life-Saving Equipment says it stands ready to throw them a lifeline. The global provider offers a complete range of safety solutions for passenger and cargo vessels operating under the Polar Code.
Wärtsilä Extends Service Agreement with WinGD
Wärtsilä said it has signed a 10-year service partnership agreement with the Swiss company Winterthur Gas & Diesel Ltd. (WinGD), a developer of two-stroke low-speed gas and diesel engines used for propulsion power in merchant shipping. The new partnership agreement appoints Wärtsilä as an authorized global service provider for all WinGD products and provides WinGD and its customers continued access to Wärtsilä’s worldwide service network and comprehensive services offering.
Lower Rates Drag Baltic Index
The Baltic Exchange's main sea freight index fell for the second straight session on Tuesday, weighed down by lower rates across vessel categories. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was down 23 points, or 1.89 percent, at 1,191 points. The capesize index snapped its five-day winning streak and shed 36 points, or 2.02 percent, to 1,748 points.
Cruise Ship Passenger Medevaced near Bahamas
The U.S. Coast Guard medevaced a 50-year-old man suffering heart attack-like symptoms from the cruise ship Carnival Sunshine Tuesday approximately 46 miles north of the Bahamas. Coast Guard 7th District watchstanders received a medevac request at approximately 7:20 p.m. Monday. Watchstanders launched an Air Station Clearwater MH-60 Jayhawk helicopter crew stationed at Great Inagua, Bahamas and embarked the patient and nurse at approximately 12 a.m.
US, Australia Join Search for Kiribati Ferry Survivors
United States and Australian aircraft joined the search for passengers of a missing ferry off Kiribati on Tuesday, as rescuers scoured the central Pacific Ocean for a liferaft believed to be carrying survivors. Eight people rescued from an drifting dinghy on the weekend said the ferry broke up soon after setting out on Jan. 18 and that they had seen other passengers scramble aboard a liferaft. "There…
The U.S. Navy's Fundamental Problem
A series of mishaps at sea has prompted the U.S. Navy to examine the way it conducts business. The accidents shared some similar contributing causes such as fundamental watchstanding and seamanship, and each of these incidents were preventable. The four incidents involved surface combatants in the Seventh Fleet area of responsibility. • On January 31, 2017, the Yokosuka-based Ticonderoga-class guided missile cruiser USS Antietam…
Marlink Expands in Japan
Satellite communication provider Marlink said its Tokyo office has relocated to new, larger premises as the company grows its Japan team to meet the needs of an expanding VSAT customer-base in the region. “The new location is over twice the size, which helps us to accommodate more field engineers, technical support and sales staff, in addition to enabling us to build a new service management function for better coordination and smoother operations towards the customer…