Venezuela Dodges Oil Asset Seizures with Export Transfers at Sea
Venezuela's state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures.But the OPEC member nation is still fulfilling less than 60 percent of its obligations under supply deals with customers.Venezuela has been pumping oil this year at the lowest rate in three decades after years of underinvestment and a mass exodus of workers.
USMMA Outlines Top Priorities in New Strategic Plan
Today, the United States Merchant Marine Academy (USMMA) at Kings Point issued its new strategic plan providing guidance and direction for the near-term future of the Academy.The plan, entitled The U.S. Merchant Marine Academy Strategic Plan 2018-2023: Navigating Towards the Future Together, describes strategic priorities that will guide the institution for the next five years and beyond, including enriching educational programsā¦
Shipping Executive Focus: Art Regan, Executive Chairman, Genco Shipping & Trading
Art Regan, who has been the Executive Chairman at Genco Shipping and Trading (NYSE: GNK) since October 2016, personifies the new type of shipping executive, savvy on all things maritime (he is a graduate of SUNY Maritime College at Fort Schuyler) coupled with a keen understanding of market dynamics. Regan commenced his maritime industry career at sea, rising through the shipboard officer ranks completingā¦
Arcadia Shipmangement Signs ABS Advanced Solutions EAM Agreement
Arcadia Shipmanagement Co. Ltd. selected ABS Advanced Solutions to implement an Enterprise Asset Management (EAM) Program to further enhance the reliability of its fleet of 15 tankers.The Advanced Solutions EAM program is designed to aid owners and operators with managing physical assets from design to decommissioning to optimize use, reduce costs, and improve vessel reliability and efficiency.According to ABSā¦
ChartCo to Unveil New Integrated Platform at SMM
Digital navigation services and voyage compliance solutions provider ChartCo said it will launch a completely new e-navigation and compliance platform at this Septemberās SMM in Hamburg. ChartCo OneOcean will play an important role in how shoreside operations and shipping fleets are managed while offering significant benefits to onboard crew. A notable new feature within the OneOcean platform is the incorporation of data from ChartCoās environmental solutionā¦
Damen to Equip Chile's Antarctic Research Vessel
Damen Marine Components has won a contract to supply steering gear, rudders and stern tube parts for an Antarctic research vessel of the Chilean Navy, under LRS -Polar 5 Class notation. The contract was awarded by ASMAR Talcahuano Shipyard, Chile. Design of the vessel was done in collaboration with VARD Canada.Damen Marine Components will be supplying twin COMMANDER Ram-Type electro-hydraulic steering gear units, twin ATLANTIC semi-spade rudders and twin stern tube casting parts.
Thyssenkrupp, GNYK Team Up for German Warship Tender
Thyssenkrupp Marine Systems and German Naval Yards Kiel (GNYK) have teamed up in the ongoing bidding process for a contract worth several billions of euros to buildā¦
Liberia Introduces Electronic Certificate Security Features
Liberia continues to deploy significant improvements to its state-of-the-art web-based client interface system, WayPoint, by enhancing certificate security features, introducing a QR Code symbol for electronic certificates and streamlining the procedure for document verification.WayPoint was launched in late-2016 to provide the owners and operators of Liberian-flag ships with secure, real-time, user-friendly access to their fleet detailsā¦
Maersk Cuts 2018 Guidance, Eyes Market Recovery
Danish shipping company A.P. Moller-Maersk slashed its 2018 earnings forecast on Tuesday due to weak second-quarter freight rates and higher prices for bunker fuel, although the downgrade was smaller than feared, analysts said.The world's biggest container shipper also said spot freight rates have restored after a significant drop in the second quarter, and that its volumes are growing in line with the market.Following the unexpected announcementā¦
DP World Acquires Unifeeder for $762.6 Mln
DP World, one of the world's largest port operators, said on Tuesday it had acquired 100 percent of Unifeeder Group, a Danish logistics company, for 660 million euros ($762.6 million).The acquisition from Nordic Capital Fund VIII and certain minority shareholders will boost DP World's presence in the global supply chain and broaden its product offering to its customers, shipping lines and cargo owners, DP World said.Based in Aarhus, Denmark, Unifeeder operates a container feeder and a shortsea n
Fred. Olsen Energy edges closer to financial restructuring
Norwegian drillship and rig operator Fred. Olsen Energy, owner of the yard that built the RMS Titanic, is considering a debt and equity restructuring that wouldā¦
Dry Bulk: Capesize, Panamax Rates Dip
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 41 points, or 2.3 percent, at 1,732 points.The capesize index slipped 104 points, or 2.8 percent, to 3,550 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as ir
Braemar Shipping Services Adds New LNGC 'LNG Schneeweisschen'
Braemar Shipping Services announced the successful delivery of the 180,000m3 Liquid Natural Gas Carrier (LNGC) called āLNG Schneeweisschenā from Daewoo Shipbuilding & Marine Engineering (DSME)ā¦
V.Group Rolls-out Fleet Cell of the Future
V.Group, the leading global marine and offshore vessel management and support services provider, has announced the launch of its groundbreaking Fleet Cell of the Futureā¦
Ports to Acquire Controlling Stakes in Dredging Corporation of India
India's three major ports, including Paradip in Odisha, may acquire a stake in Dredging Corporation of India (DCI) based on availability of surplus funds lying withā¦
Scorpio Bulkers Gets New Build Financing form Nordic Banks
Scorpio Bulkers announced that it has received a commitment from Nordea AB (publ), acting through its New York branch, and Skandinaviska Enskilda Banken AB (publ)ā¦
DNV GL Provides Tech Support for 3 Norwegian Wind Farms
DNV GL, the worldās largest resource of independent energy experts and certification body, today announced that the companyās technical expertise was an importantā¦
Kalmar Fleet Solution for Australian Container Freight Services
Kalmar, part of Cargotec, has won an order to provide Kalmar Fleet Solution of mobile equipment to Australian Container Freight Services (ACFS) operations in Adelaideā¦
California Port to Vote on Hydrogen Fuelling
The Long Beach Board of Harbor Commissioners is scheduled to vote Monday, Aug. 13, on a proposal by Toyota Logistics Services to reconfigure its facility at Pierā¦
British Ports Association to Push Coastal Shipping
The British Ports Association (BPA) will be holding a short targeted seminar on Thursday 29 November to discuss coastal shipping in the UK with ports and operators.
