Royal IHC Completes Two-year Dredger Overhaul
The self-propelled cutter suction dredger (CSD) Huta 14 has resumed operations for Saudi Arabian owner Huta Marine following two-years of renovation work performed by Royal IHC. The overhaul, which involved replacing Huta 14’s three large diesel engines, as well as integrating an electrical installation for the underwater pump engine and drive, was completed by IHC Middle East based in Dubai with support from IHC’s Asset Upgrade Services department in The Netherlands.
ClassNK: New PrimeShip-HULL (HCSR) Software
ClassNK released the latest version of its design support software PrimeShip-HULL (HCSR) Ver.5.0.0, developed in response to the IACS Common Structural Rules for Bulk Carriers and Oil Tankers (CSR BC & OT). The new version incorporates the latest rule amendments to CSR BC & OT (Rule Change Notice 1 to CSR 01 JAN 2017 version) including amendments based on feedback from the industry. In addition to the incorporation of the latest rule amendments…
Hedge Funds Hook Shipping Stocks Grappling for Recovery
Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors…
Huntington Ingalls Industries Q4 Revenue up 3.9%
U.S. military shipbuilder Huntington Ingalls Industries reported fourth quarter 2017 revenues of $2 billion, up 3.9 percent from the fourth quarter of 2016. Operating income in the quarter was $227 million and operating margin was 11.4 percent, compared to $268 million and 13.9 percent, respectively, in the fourth quarter of 2016. Diluted earnings per share in the quarter was $1.41, compared to $4.20 in the same period of 2016.
P&I Clubs Strong But Pricing Under Pressure
Balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, bolstered by several years of positive earnings but underwriting…
Global Seaborne LPG Volumes Grow: Epic Gas
Global seaborne LPG volumes saw continued growth in 2017 reaching 91.9 million tonnes, 4.3% higher than the 88.1 million tonnes shipped in 2016, says Epic Gas. Epic…
Scorpio Tankers Reports 4Q Loss
Monaco-based tanker owner Scorpio Tankers has reported a widened net loss for the fourth quarter of 2017, reaching USD 41.5 million, when compared to the same quarter…
Depressed Outlook in Chemical Shipping Market: Drewry
Chemical shipping freight rates will weaken through 2018 due to the depressed outlook on overtonnaged long haul routes, according to the latest edition of the Chemical Forecaster…
TEN Gets Charter Extension for Seven Panamaxes
Greece-based Tsakos Energy Navigation (TEN) has announced the charter extension for seven panamax tankers, for an average of 24 months, to a state oil concern. The…
Safe Bulkers 4Q Net Revenues Up by 34%
Safe Bulkers reported fourth-quarter of 2017 revenues of $2.9 million $42.4 million increased by 34% from $31.7 million during the same period in 2016. Net loss…
UN Environment Visits IMO
When it comes to ocean protection and delivering on the Sustainable Development Goals, International Maritime Organization (IMO) and UN Environment share a great deal of common ground.
Port of Los Angeles Moves 808,728 TEUs in January
Last month was the second busiest in the Port's history. The Port of Los Angeles handled 808,728 Twenty-Foot Equivalent Units (TEUs) in January 2018, the second…
Blount Boats Signs Ferry Contract
Anyone plying the Great South Bay between the shores of Long Island and Fire Island know that the fleet of Fire Island Ferries is a ubiquitous site, shuttling people, pets and supplies from the mainland to the barrier island oasis just five miles away. The scene is a familiar one, too, for Rhode Island boat builder Blount Boats, which has built quite a few of these ferries, and announced today the contact with Fire Island Ferries to build a new 85-ft.
New Condition & Performance Monitoring Application for Maritime
Arundo Analytics, a software company enabling advanced analytics in heavy industry, announced yesterday the Arundo Condition & Performance Monitoring application (CPM) for industrial equipment. Arundo CPM is a configurable machine learning application built and delivered via the Arundo Enterprise platform. Arundo’s CPM software greatly enhances the ability of marine vessel owners, operators, and equipment vendors to increase revenue…
Luxury Cruise Ships & The French Connection
Edie Rodriguez, the Americas Brand Chairman for PONANT Yacht Cruises and Expeditions, has spent a life and built a career centered on travel, cruise and branding in a most luxurious manner. She was a natural to discuss the booming luxury expedition sector, the next big frontier in the global cruise industry. It is natural, in the U.S., to pronounce PONANT as “po nant,” but the French have a different style and the company name is pronounced “po non…
Two Littoral Combat Ships Named
The U.S. Navy’s next two Littoral Combat Ships will be named USS Nantucket (LCS 27) and USS Savannah (LCS 28), announced Secretary of the Navy Richard V. Spencer. The future USS Nantucket (LCS 27), a Freedom-variant Littoral Combat Ship to be built by Fincantieri Marinette Marine in Marinette, Wis., will be the third commissioned U.S. Navy ship to honor the maritime history of Nantucket. The future USS Savannah (LCS 28)…
North Sea Crude-Forties Slips to Lowest Since mid-2017
North Sea Forties crude differentials weakened on Wednesday to the lowest since mid-2017. Gunvor sold a cargo from floating storage. Such sales are often seen as…
Telford Offshore: A New Offshore Services Provider
There’s a new name in the global oil and gas industry: Telford Offshore, which officially launched today after acquiring four vessels from Sea Trucks Group following its liquidation. The newly formed contracting company acquired four DP3 multipurpose offshore construction vessels which can support multiple activities, focusing on high capacity accommodation combined with lifting, fabrication and installation services.
MME Inks Deal to Protect Luxury Cruise Vessels
MME Group has secured multiple orders for solutions that protect the newest generation of luxury cruise vessels built by MV WERFTEN (Germany) against corrosion and marine growth. The yard's "Global Class" and "Endeavor Class" vessels will be outfitted with MME Group's systems. Recently, MME Group inked the deal for the design, supply and commissioning of sacrificial anodes (SA), Impressed Current Cathodic…
Four Methanol-fueled Vessels Ordered in Korea
Four new vessels powered by methanol fuel will be built in Korea following investment from maritime industry stakeholders Waterfront Shipping Company Ltd. (WFS), Marinvest/Skagerack Invest (Marinvest), IINO Kaiun Kaisha, Ltd. (IINO), Mitsui & Co., Ltd. (Mitsui) and the NYK Group (NYK). The four 49,000 dead weight tonne newbuilds will be built at Hyundai Mipo Dockyard for delivery in 2019. They will be powered by MAN B&W ME-LGI two-stroke dual-fuel engines that can run on methanol…
