The Baltic Index Fell 10% This Week
The Baltic Exchange's main sea freight index, ended the week over 10 percent lower on Friday, as rates fell across all vessel segments, pushing the index to near 6-month lows. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 19 points, or 1.71 percent, at 1,095 points, touching its lowest level since Aug. 10 last year. The capesize index shed 58 points, or 3.8 percent, at 1,470 points. It fell about 17 percent for the week.
Electric & Hybrid Drives Are Gaining Steam on the Waterfront
Demand for electric mobility is sweeping across the globe, and itās rapidly gaining traction in the marine industry. The electric mobility revolution is largely being driven by the land transportation sector. Industry statistics predict that electric vehicle sales will surpass combustion engine vehicles within the next 20 years. Many countries in Europe and Asia have already adopted aggressive deadlines to phase out sales of combustion-powered vehiclesā¦
First of Two New Tugs Delivered to Multraship
Towage and salvage specialist Multraship has taken delivery of the first of two new Carrousel Rave Tugs (CRT). The vessel, which was commissioned as Multratug 32 and delivered by Netherlands shipyard Damen Maaskant in Stellendam, will operate under lease to Multraship. The contract for the vessels was agreed between Novatug, an arm of the group to which Multraship also belongs, and Damenās specialist propulsion subsidiary Van der Velden Barkemeyer GmbH in November 2015.
Brazil Drops 'Railway to the Pacific' Plan
Brazil has shelved a planned railway to ship commodities destined for China through Peru as it was too costly and faced "absurd" engineering challenges, a Brazilian official said.
Washington State, DNV GL Partner on Maritime Sector Growth
DNV GL will support Washington State as it advances its strategy for the sustainable development of the stateās $38 billion maritime industry. In December 2017, Washington State Governor Jay Insleeās Maritime Innovation Advisory Council launched an effort called āWashington Maritime Blueā to develop a comprehensive strategy for leading the nation in āblueā ocean industry technology and practices. Classificationā¦
Noble Group: Sale of Four Bulkers Falls Through
Crisis-wracked commodity trader Noble Group said on Friday said proposed agreements to sell four dry bulk carrier vessels have fallen through after the buyers failedā¦
Oil From Sunken Iranian Tanker May Have Reached Japan
Clumps of oil have washed up on the shores of southern Japan and there are fears they may be leaking from an Iranian crude tanker than sank in the world's worst such disaster in decadesā¦
Migrant Boat Capsizes off Libya, Dozens Feared Dead
Most on board boat believed to be Pakistanis;ten bodies so far recovered, three survivors found. An estimated 90 migrants are feared to have drowned off the coastā¦
Bahri Adds VLCC 'Lawhah' to its Fleet
The National Shipping Company of Saudi Arabia (Bahri) received a very large crude carrier (VLCC) named āLawhahā on Thursday, the company said. "Continuing its strong start to 2018ā¦
Port of Gothenburg to Start LNG Facility
The Port of Gothenburg has launched the construction of a liquefied natural gas (LNG) facility in an effort to open up new opportunities for LNG-fuelled ships. "Constructionā¦
Hyundai Samho Heavy Bags USD 200mln Order for LNG Carrier
South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) has won a $ 200 million contract for the construction of a 174,000-cubic-meter LNG vessel for NYK Line, said a report in Yonhap.
Dorian LPG Sells, Leaseback Concorde
The Stamford, Connecticut-based Dorian LPG has reached a sale and bareboat charter arrangement for its 84,000 cbm carrier Concorde. The liquified petroleum gasā¦
Chemical Tankers Face Challenging Year: Stolt-Nielsen
Chemical tankers are sailing into another challenging year, according to the London based chemical carrier, tank container and terminals group Stolt-Nielsen's Chief Executive Officer, Niels G.
US Navy to Commission Littoral Combat Ship Omaha
The United States Navy will commission its newest Independence-variant littoral combat ship (LCS), the future USS Omaha (LCS 12), during a 10 a.m. PST ceremony Saturday, Feb.
Hyundai Merchant Marine, GS Caltex Ink Crude Oil Deal
South Korean shipping company Hyundai Merchant Marine (HMM) has signed a long-term crude oil shipping contract with compatriot oil refiner GS Caltex. A press releaseā¦
SpaceX Rocket Survived Landing in the Ocean
After SpaceX launched its second Falcon 9 Rocket of the year, the company chose not to land the booster but instead dispense it into the ocean. Shockingly, it survived its fall and laid bobbing, fully intact in the Atlantic. SpaceX will now try to salvage the rocket by towing it back to shore, according to SpaceX CEO Elon Musk.
Almarin Buoys Reach New Markets
Almarin navigation buoys are being installed in a growing number of markets both in Europe and further afield, proving the effectiveness of their simple reliable design with the use of high quality materials manufactured in Europe. In the Léman lake, border between France and Switzerland, buoys have been installed to mark a floating containment boom in the estuary of Rhone river, nearby Port Valais. The Balizamar buoys used in this case were adapted by the customer for this application.
Serious Questions Surround BWMS Testing
Serious questions have been raised regarding the testing of ballast water management systems (BWMSs). In order for a BWMS manufacturer to sell its equipment for use on commercial vessels operating in U.S. waters, the equipment must be tested in accordance with U.S. Coast Guard and Environmental Protection Agency (EPA) requirements and the equipment must then obtain a type approval certificate from the Coast Guard.
Essar UK to Buy More US Crude in 2018
Essar UK, one of Britain's biggest oil refiners, will buy more U.S. crude this year after testing it last year, showing how rising output from the United States is squeezing out traditional European suppliers from the North Sea and Africa. Essar took at least three cargoes U.S. crude in 2017 for its 200,000 barrel-per-day (bpd) Stanlow oil refinery. "We will continue to take U.S. cargoes because we find value in themā¦
GSI Completes 13-vessel Series for Stena Bulk
The final vessel has been named in a series of 13 chemical and product tankers ordered by Stena Bulk at the Guangzhou Shipbuilding International (GSI) shipyard. The 50,000 dwt MR tanker Stena Impero was named on Wednesday in Guangzhou, China, completing a series of newbuilds ordered at Chinese shipyard GSI in 2012 for SEK 4 billion ($508 million). Erik Hånell, president and CEO of Stena Bulk, saidā¦
