Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal
Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels…
US Navy Relieves Commander of USS Theodore Roosevelt
The U.S. Navy on Thursday relieved the commander of the aircraft carrier Theodore Roosevelt, who wrote a scathing letter that leaked to the public asking the Navy for stronger measures to control a coronavirus outbreak onboard the ship.The removal of Captain Brett Crozier from the command of the 5,000-person vessel, which was first reported by Reuters, was announced by acting U.S. Navy Secretary Thomas Modly…
Laborde Products Named East Coast Distributor for Mitsubishi Marine
Mitsubishi Turbocharger and Engine America has named Laborde Products the new distributor for the East Coast of the United States for Mitsubishi Marine Engines.
Hepburn and Sons Adds Senior Naval Talent
The Hepburn and Sons LLC team welcomed David Rice, CAPT David Bauer, USN (Ret), and Gary Loberg as their newest members. David Rice serves as Senior Consultant, Material Science. David Bauer will serve as the Senior Manager, Material Science. Gary Loberg serves as Senior Manager, Advisory Services.David Rice comes to Hepburn and Sons, LLC after a career spanning 45 years at Newport News Shipbuilding (NNS).
Inmarsat Offering Crews Discounted Voice Calls
Inmarsat has formalized a 50% discount for crew voice calling services available for up to 40,000 ships in response to the COVID-19 pandemic and its impact on seafarer well-being.The maritime satellite service provider is also ensuring that calls made to the SeafarerHelp service provided by welfare organization ISWAN (International Seafarers’ Welfare Assistance Network) are available free of charge.
Offshore Technology Conference (OTC) 2020 Canceled
The 2020 Offshore Technology Conference (OTC) has been canceled due to the coronavirus pandemic."While OTC’s purpose is to provide an opportunity for those in the offshore petroleum industry from around the world to meet and share knowledge, our first priority is to the health and safety of our attendees and exhibitors. Therefore, OTC has made the difficult decision to cancel this year’s conference…
Coronavirus-stricken Zaandam to Dock in Florida
Two Holland America Line cruise ships, including the coronavirus-hit Zaandam, are scheduled to dock at Port Everglades on Thursday, a spokesperson for the Florida port confirmed.The port said it would hold berths open for the two ships as details for the conditions of arrival are being finalized. An estimated time of arrival is to be determined.Florida has been working with the cruise line and the U.S.
New Dual Channel Power Supply for Marine Engine Control
Powerbox has announced the release of a new dual channel power supply for Marine engine control. Based on a ruggedized platform for use in harsh environments, the ENMA500D24/2x27-CC provides two 27V/20A isolated outputs and a total power of 540W. The power supply is housed in a robust IP56 case, it is mechanically designed for efficient conduction cooling, and it complies with DNV/GL standards.From…
Profiles in Training: American Seafoods
Lance Camarena recognized from a young age that he wanted to work in the learning and development arena. But his plans changed while studying in college to become a public school music teacher and a job working a swing shift at Intel led to a new path of study and a career in the IT world.Still, after graduating and securing full-time employment with another IT firm, he knew training was still his calling. “I managed to switch roles and became one of the first people in the U.S.
IMO Urges Governments to Allow Crew Changes
United Nations shipping agency the International Maritime Organization (IMO) has echoed industry calls for governments to grant special travel exemptions to seafarers in response to the COVID-19 pandemic.In a Circular Letter (link) issued on Monday, the IMO distributed a series of recommendations for governments and relevant national authorities, proposed by a broad cross-section of global industry…
Low-Speed, Dual-Fuel Engines Pass 1 Million Operating Hours
Mk II ME-GI and Otto-cycle ME-GA recently added to two-stroke portfolio MAN Energy Solutions reports that its portfolio of two-stroke, dual-fuel engines has accumulated 1 million operating hours.Bjarne Foldager – Senior Vice President, Head of Two-Stroke Business at MAN Energy Solutions – said: “This significant milestone owes everything to the dual fuel strategy we have laid over the past decade.”MAN…
SevenCs Upgrades Chart Validation Tool
SevenCs has released a new version of the chart validation tool, 7Cs Analyzer. 7Cs Analyzer Version 4.2. comes with new features to make chart validation more flexible and customizable.Shape File ExportMost chart production tools have a built-in shape file reader. Therefore, we have included a new module in Version 4.2. It gives users the opportunity to save the validation log file in ESRI shape file format.
SBI Lynx Delivered to Ocean Yield
Ocean Yield said it has taken delivery of the kamsarmax dry bulk vessel SBI Lynx which it purchased and is leasing back to Scorpio Bulkers on a 12-year bareboat charter.In February, Scorpio announced it agreed to sell and lease back SBI Lynx along with Ultramax vessels SBI Cronos and SBI Achilles to Ocean Yield for $62.8 million total.The Ultramax vessels were handed over to Ocean Yield in March. SBI…
Klaveness Expands Data Platform Contract with DNV GL
Following a three-vessel pilot project initiated in 2019, Klaveness Ship Management has opted to expand its contract with DNV GL's Veracity to sign up another eight vessels for the data platform service.The pilot saw Veracity partner with Arundo Analytics (Arundo) to install Arundo Edge Agent software onboard and stream data onto the Veracity data platform. On Veracity, the data is secured, stored, contextualized and combined with other data sources such as position data.
Kirby Completes Savage Fleet Acquisition
Houston-based Kirby Corporation said Thursday it has completed the acquisition of Savage Inland Marine’s inland towboat and tank barge fleet. The total consideration paid was approximately $278 million and was financed with additional borrowings. Savage’s fleet consists of 46 inland towboats and 90 tank barges with approximately 2.5 million barrels of capacity. Savage primarily moves petrochemicals…
EU Antitrust Regulators Pause Hyundai, Daewoo Deal Probe
EU antitrust regulators have halted their investigation into world No.
Carnival Pays High Price to Get Credit Investors on Board
Carnival Corp, the world’s largest cruise operator, said it has raised $6.25 billion by issuing new debt and equity on Wednesday, borrowing at a high cost to weather the economic storm of the coronavirus pandemic.Despite having its cruise ships idled to comply with coronavirus travel restrictions, the company was able to attract enough investors that its capital raising was oversubscribed several times over…
While Oil Prices Plummets, Tanker Rates Fly High
If one ever needed proof that, no matter how dire the situation, there is always a silver lining, look no further than the crude tanker market, which has seen it day rates skyrocket in the face of a global pandemic that has effectively ground world commerce to a crawl.As is the case with other gravity defying business phenomena, geopolitics is a central factor, in this case a battle between Russia…
Hornbeck Offshore to File Chapter 11
U.S.-based offshore vessel owner Hornbeck Offshore Services announced it will file chapter 11 after defaulting on payment obligations.The New York-listed company said in an SEC filing that it has reached an agreement with lenders and holders of the company’s unsecured 5.875% and 5% senior notes pursuant to which the creditors have agreed to forbear, until April 20, from exercising certain of their…
Long-Term Charter with Total for Havila PSV
Norwegian offshore vessel owner Havila Shipping has secured a long-term contract for its platform supply vessel Havila Commander.Havila Shipping said Thursday that the contract was with Total E&P UK, the UK subsidiary of the French oil major Total.The new contract for the 2010-built platform supply vessel is for a firm period of 18 months. The contract will begin in mid-April 2020 in direct continuation…