Vroon Reaches Restructuring Terms with Lenders
Vroon shipping group has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring. The agreement, which is only subject to final documentation and credit committee confirmation, is an important step forward towards the finalisation of Vroon’s financial restructuring. The agreement marks the important step towards the final stage of a process initiated in late 2016 following continued challenges in shipping markets.
Fast, Quick Action Needed to Meet Paris Climate Goals: CAN
The International Maritime Organisation (IMO) has agreed on an initial strategy to decarbonise international shipping and reduce emissions from ships by at least 50% by 2050. While this agreement falls short of the 70 to 100% reductions by 2050 that the Pacific Islands, the EU and others were calling for ahead of the meeting, it keeps a window open to meet the Paris climate goals and is undeniably a game changer for the shipping sector.
Sempra Energy to Build Liquid Fuel Terminal in Mexico
Sempra Energy announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), plans to develop, build and operate a receipt, storage and send-out liquid fuels marine terminal at the La Jovita Energy Hub in Ensenada, Mexico. With an expected investment of approximately USD 130 million, the new Baja Refinados liquid fuels terminal will have an initial storage capacity…
Stena Drillship First to Receive DNV GL MPD Class Notation
DNV GL has revised its classification rules for Managed Pressure Drilling (MPD) systems and introduced two new class notations DRILL(MPD) and DRILL(MPD READY). Stena Drilling Ltd. (SDL) is the first drilling contractor to receive the notation Drill(MPD) for their harsh environment drillship Stena Carron. Managed Pressure Drilling (MPD) is an adaptive drilling process that allows greater control of the annular pressure profile throughout the wellbore.
ICS Cheers 'Paris Agreement for Shipping'
The International Chamber of Shipping (ICS) has welcomed the high level strategy for the further reduction of shipping’s greenhouse gas (GHG) emissions, adopted on 13 April by the UN International Maritime Organization (IMO). ICS Secretary General, Peter Hinchliffe said “This is a ground breaking agreement – a Paris Agreement for shipping – that sets a very high level of ambition for the future reduction of CO2 emissions.
ECSA and WSC Call for European Maritime Single Window
The European Commission is expected to publish a proposal for a revision of the Reporting Formalities Directive (RFD) in early May 2018 that is intended to remedy the current costly, unharmonised and burdensome reporting requirements facing ships calling at EU ports. Current complex, repetitive and duplicative reporting requirements not only result in productivity losses for maritime carriers and their customers but also create unnecessary workload and stress for ship crews.
UN Body Adopts Climate Change Strategy for Shipping
Nations meeting at the United Nations International Maritime Organization (IMO) in London have adopted an initial strategy on the reduction of greenhouse gas emissions from ships, setting out a vision to reduce GHG emissions from international shipping and phase them out, as soon as possible in this century. The vision confirms IMO’s commitment to reducing GHG emissions from international shipping and, as a matter of urgency, to phasing them out as soon as possible.
Pangaea Logistics Acquires Panamax Bulker
Pangaea Logistics Solutions, a global provider of comprehensive maritime logistics solutions, announced that it has signed a memorandum of agreement to acquire the 2006 Imabari-built panamax M/V Madeleine for $14.2M to enhance the company's bulk fleet. This new vessel is set to be renamed and will be fully utilized in the Noranda trade, supporting Pangaea's continuous transportation capabilities to Noranda Alumina and Noranda Bauxite on a long-term contractual basis.
MOL Accepts "Great Ship of the Year" Award
Maritime Reporter & Engineering New’s Great Ship of 2017 Award was presented to Mr. Yoshikazu Kawagoe, Chief Technical Officer, Mitsui O.S.K. Lines in MOL’s headquarters in Tokyo. A full report on the world’s 3rd largest shipowner will publish soon in the pages of MR. Mitsui O.S.K. Lines, Ltd. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd.
Five Weeks Later, Maersk Honam is Still Burning
Efforts to suppress a fire on containership Maersk Honam continue more than a month after a blaze aboard the 15,000 TEU vessel killed five crew members. On March 6, a fire broke out in a cargo hold aboard Singapore-flagged Maersk Honam while the vessel was en route from Singapore toward Suez, about 900 nautical miles southeast of Salalah, Oman. At the time of the incident, the ship was carrying 7,860 containers for the 2M Alliance between Maersk Line and Mediterranean Shipping Co. (MSC).
Louis Dreyfus Orders Wind Farm Vessel
The Louis Dreyfus Armateurs Group (LDA) and Ørsted, the Danish global leader in renewables, reinforce their 2017 partnership with the order of a second service operation vessel (SOV) dedicated to Hornsea Project Two offshore wind farm off the English coast. As sister vessel of the Wind of Change, the first SOV ordered by LDA in 2017, this second ship will also be designed in close cooperation with Salt Ship Design and will be built by CEMRE for a delivery in 2021.
Brazil Vessel Lineup for Sugar 60% Behind 2017
The lineup of vessels to load sugar in Brazil currently is around 60 percent smaller than seen in the same period a year earlier because of lower output and tepid foreign demand, midway through the first month of the country's new cane crop. Ten vessels were at Brazilian ports in the first week of April to load 393,500 tonnes of sugar, according to data from shipping agency Williams. At this time last year, 23 ships were at port to take on 950,400 tonnes.
USS Little Rock Arrives in Mayport
The U.S. Navy’s newest Freedom-variant littoral combat ship has finally reached its homeport in Mayport, Fla. after a winter trapped in the icy north. Built at the Marinette Marine Corporation shipyard in Marinette, Wisc., the USS Little Rock (LCS 9) was scheduled to sail for its Florida homeport following a December 2017 commissioning ceremony in Buffalo, N.Y., but worse-than-expected ice conditions in the St.
US Could Reach 355 Ship Navy in 2030s -Official
The U.S. Navy could build its strength to 355 ships over a decade earlier than previously thought due to an increased shipbuilding budget and tempo as well as extending the service for some ships in the current fleet, a Pentagon official told a Congressional panel on Thursday. The goal of a larger Navy, one of President Donald Trump's signature issues from the campaign trail, could be achieved in the 2030s instead of the 2050s…
IMO Reaches Deal to Cut CO2 Emissions
The United Nations shipping agency reached an agreement on Friday to cut carbon emissions, following years of slow progress. The compromise plan, which will cut emissions by at least 50 percent by 2050 compared with 2008 levels, fell short of more ambitious targets. Kitack Lim, Secretary-General of the International Maritime Organization (IMO), said the adoption of the strategy "would allow future IMO work on climate change to be rooted in a solid basis".
Twin Disc Equips Seacor's New Crewboats
When cargo and crew need to get to an offshore platform fast, Seacor Marine delivers with its new Seacor Panther and Seacor Puma. Part of its CrewZer Class of state-of-the-art transport vessels, the 187' x 41' high-speed aluminum catamarans reach 40 kts—a dramatic speed improvement over traditional FSVs (fast support vessel). This blazing-fast speed is due to an innovative hull design, and high-performance…
Russia's Grip on Biggest Port Operator Tightens
Moscow tightened its grip on Russia's biggest port operator on Friday, making a government official chairman and ousting representatives of the only private shareholder from the board.The changes follow the arrest last month on organized crime and embezzlement charges of Ziyavudin Magomedov, head of the Summa conglomerate which with a joint venture partner owns a 50.1 percent stake in the port operator.
Norddeutsche Reederei Upgrades Connectivity
Norddeutsche Reederei said it will begin installing Navarino’s Infinity Cube solution across its fleet of 50 vessels.The company has a fleet consisting mostly of modern container vessels which trade worldwide.Christian Mix, Norddeutsche Reederei’s IT Marine System Administrator, said, "We are in the process of further upgrading our connectivity capabilities based on our last year finished VSAT installation…
Fire in Sauna Shuts World's Northernmost Oilfield
The world's northernmost oilfield was shut on Friday when a fire broke out in a sauna in the oil platform's living quarters, Eni, the Italian oil company that operates the field, said. The Arctic Goliat field is in the Barents Sea about 88 kilometers off the coast of Norway and inside the Arctic Circle. The platform has floating production, storage and offloading facilities and can produce close to 100,000 barrels of crude per day.
Ingalls to Reactivate East Bank Facilities
Huntington Ingalls Industries announced Thursday that its Ingalls Shipbuilding division will reactivate part of its shipbuilding facilities that was destroyed by Hurricane Katrina in 2005. The site on the east bank of the Pascagoula River is the original Ingalls Shipbuilding Corp., founded in 1938. According to the shipbuilder, its reactivation will restore the facility’s ability to support Ingalls’…