Lateral Naval Architects Launched
UK-based BMT Nigel Gee and Dutch- based superyacht builder Oceanco have signed a strategic partnership for the formation of a new naval architecture and engineering company—Lateral Naval Architects Ltd. Lateral will provide high quality naval architecture and engineering services to the industry as well as collaborating with the shipyard’s own engineering team and network of co-makers and subcontractors.
IM Skaugen Files for Restructuring in Singapore
Norway-based owner of liquefied natural gas (LNG) carriers IM Skaugen has filed for restructuring in Singapore seeking court protection from its creditors. "We wish to announce that I.M. Skaugen SE (IMSSE), together with its wholly owned subsidiaries, SMIPL and IMSPL filed applications to the High Court of the Republic of Singapore on 31 May 2018 for a moratorium to commence the reorganisation of liabilities and businesses of the IMS Scheme Companies," said a press release from the company.
Aqualis Offshore Completes Jacket Installation in Bahrain
Aqualis Offshore has completed the jacket installation engineering of an 1800T steel jacket structure offshore Bahrain as part of the Bahrain LNG Import Terminal. Aqualis Offshore, part of Oslo-listed Aqualis ASA, delivered the project in cooperation with APMC, who were in charge of the transportation and installation contract on behalf of its EPC contractor client, GS E&C. Aqualis Offshore was contracted by GS E&C to provide loadout, transport and offshore installation of the jacket.
Port of Rotterdam CEO Calls on EU for Investments
The CEO of the Port of Rotterdam Authority Allard Castelein called on the European Union to step up its investments in the infrastructure of ports and hinterland connections during the 15th ESPO conference. This will further strengthen Europe’s economy and competitive position. ‘A port is only as strong as its hinterland connections,’ according to Castelein. ‘Solid infrastructure connections to and…
Euroseas Completes EuroDry Spinoff
Euroseas announced that it has completed the spin-off of its drybulk fleet into EuroDry Ltd. Euroseas shareholders received one EuroDry Ltd share for every five shares of the Company they owned. Aristides Pittas, Chairman and CEO of Euroseas, commented: "We are very pleased to complete the spin-off of our drybulk fleet into a separate publicly listed company, EuroDry Ltd. Euroseas now becomes a pure containership company, the only US-listed containership owner focused on the feeder sector.
Angola Protects Marine Environment
A national workshop on the treaty covering dumping of wastes at sea, the London Protocol, is being held in Luanda, Angola (30-31 May). The workshop is raising awareness among stakeholders on the practical aspects of effective implementation of the London Protocol to protect the marine environment from the dumping of harmful wastes at sea. With more light being shed on the dramatic impact of marine litter on coastal areas…
DNV GL Completes Due Diligence of Dutch Windpark Spui
DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed comprehensive due diligence of the Dutch Windpark Spui, for a group of lenders who are providing the debt financing for the project. The power generated at Windpark Spui, which will supply renewable electricity to more than 24,000 households, will be sold to Eneco Group, a Dutch sustainable energy company, under a 16-year power purchase agreement.
Canada to Impose Tariffs on US, Challenge at WTO
Canada will impose retaliatory tariffs on C$16.6 billion ($12.8 billion) worth of U.S. exports and challenge U.S. steel and aluminum tariffs under the North American Free Trade Agreement and the World Trade Organization (WTO), Canadian Foreign Minister Chrystia Freeland said on Thursday.The Canadian tariffs are set to go into effect on July 1, 2018, and stay in place until the U.S. lifts its own measures…
Kleven Delivers Maersk Minder
Norwegian shipbuilder Kleven Verft today delivered the 95-metre-long anchor handling vessel Maersk Minder, the fourth of six vessels in Maersk Supply Services’ Starfish series.The naming ceremony was held at Kleven Verft this afternoon, led by the shipyard’s new CEO Karsten Sævik, with Anni Bak as sponsor.“This is vessel number four in the series, and the yard has demonstrated its ability to again construct a very advanced and sophisticated vessel,” Sævik said.
SFL Acquires Four 14,000 TEU Vessels
Ship Finance International Limited (SFL) informs it has agreed to acquire four large container vessels in combination with long-term time-charters to a leading container…
Wärtsilä to Equip Environmentally-friendly Dredger
Wärtsilä said it bagged a contract in March to provide the engines, propellers and control system for a new, large-size hopper dredger being built by the Netherlands-based shipbuilding company Damen Shipyards Group. The vessel has been ordered by Cemex UK, supplier of building materials.Wärtsilä will prepare the engines ready for use with selective catalytic reduction (SCR) technology to reduce emissions…
EU-backed Autonomous Shipping Project Moves Forward
Hull to Hull (H2H), an EU-funded research project established to develop technical solutions for safer navigation in close proximity of other stationary or moving vessels and objects, is in its Concept Definition phase and will move on to the Technology Adaption and Integrations Work Package (WP03) this summer.H2H was established in November 2017 to develop solutions using the European Global Navigation Satellite System (EGNSS)…
Oldendorff Joins Sustainable Shipping Initiative
Dry bulk ship owner and operator Oldendorff Carriers has become a member of the Sustainable Shipping Initiative (SSI), a coalition of global shipping industry companies working toward a more environmentally sustainable maritime industry.Oldendorff joins other SSI members, including ABN-Amro, AkzoNobel, Bunge, China Navigation, IMC Shipping, Lloyd’s Register, Louis Dreyfus, Maersk, Priya Blue, Rightship and Wartsila…
Container Shipping Shakeup Needed for Higher Rates
Container shipping: Change required for higher ratesDemandThe growing imports of loaded containers into the U.S. East Coast (USEC) continues to be a focal point for the container shipping industry. Growing by 10.4 percent in Q1-2018, the first three months saw 215,000 TEU more entering the USEC than in Q1-2017. Exports grew by 55,000 TEU in the same time span, growing outbound loaded containers by 3.8 percent.This illustrates the constantly changing imbalance in U.S. foreign trade.
Seaspan to Begin Building Canada’s Joint Support Ships
Canadian shipbuilder Seaspan Shipyards together with the Government of Canada announced that work will begin soon on the Joint Support Ships (JSS) for the Royal Canadian Navy (RCN).These purpose-built vessels are being constructed as part of a strategic partnership between the Government of Canada and Seaspan under Canada’s National Shipbuilding Strategy (NSS). The vessels will meet the nation’s domestic…
Obituary: Maritime Industry Icon Jack Gallagher
John “Jack” J. Gallagher, a maritime industry veteran and environmental services pioneer, passed away on Monday at the age of 89.Jack’s greatest professional passion was his work as a Spill Manager/Qualified Individual, a role in which he had few peers. Jack was known to be fiercely committed to doing everything morally possible to protect his clients, while at the same time doing all within his power to protect the environment.
US Hits EU, Canada and Mexico with Steel, Aluminum Tariffs
The United States on Thursday said it will impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, reigniting investor fears of a global trade war as Washington's allies took steps to retaliate against U.S. goods.The move, announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday, ended months of uncertainty about potential tariff exemptions…
Golar LNG Unwinds Joint Venture with Schlumberger
Golar LNG said on Thursday it would wind down its joint venture with Schlumberger, called OneLNG, which had been involved in the development of the Fortuna LNG project with Ophir in Equatorial Guinea.
Shell Starts New Gulf of Mexico Field ahead of Plan
Royal Dutch Shell on Thursday announced the start of production at the Kaikias field in the U.S. Gulf of Mexico, around one year ahead of schedule.Production from the subsea deep water development, which will reach 40,000 barrels of oil equivalent per day, comes after Shell reduced its costs by around 30 percent to allow it to generate profit at less than $30 a barrel, the company said."We believe…
Frontline Expects Greater Oil Tanker Demand
Increased scrapping of older oil tankers and the potential for higher output of OPEC crude are likely to boost vessel demand and thus rates, Oslo-listed shipper Frontline said on Thursday.The company reported a first-quarter operating profit of $2.8 million, while analysts in a Reuters poll on average had expected a loss of $13.3 million.Tanker rates are still low, however, and 78 percent of Frontline's very large crude carriers (VLCCs) are covered at a daily $11…