Baltic Index Slips on Weaker Capesize Sector
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell slightly on Friday, dragged down by lower rates for capesize vessels.
Fincantieri Launches New Cruise Ship for Seabourn
The second cruise ship in a newbuild series for Seabourn Cruise Line has been launched by Italian shipbuilder Fincantieri at its shipyard in Sestri, Genoa. Seabourn Ovation is due to join the fleet of Carnival Corporation brand Seabourn Cruise Line in spring 2018, following on the delivery of sister ship, Seabourn Encore, at the end of 2016 from Fincantieriās Marghera, Venice yard. Seabourn Ovation will be 40ā¦
VLCC, Product Tanker Rates Headed in Opposite Directions
No impact on VLCC rates yet from Hurricane Harvey, even as rates for smaller product tankers double. Freight rates for very large crude carriers (VLCCs) on Asianā¦
Retail Gasoline Prices Surge in Harvey's Choppy Wake
Nearly a quarter of U.S. refining capacity out; Motiva down for two weeks; Corpus Christi starts to reopen. Retail U.S. gasoline prices hit two-year highs and globalā¦
HMM Orders New Carriers
South Koreaās largest ocean carrier Hyundai Merchant Marine (HMM) will invest USD 417.61 million in five new very large crude oil carriers (VLCCs), Reuters reported quoting company sources.
China Merchants Port's 1H Profit Soars 86%
Hong Kong-Listed China Merchants Port Holdings reported an 86% surge in first-half net profit, thanks to a one-off gain and higher volume handled by the company's ports.
DVB Bank Losses on Shipping
DVB, the specialist in international shipping finance, reported a consolidated net loss before taxes of EUR 506.3 million in the first six months of 2017 (previousā¦
Awilco LNG Reduces Net Loss in Q2
Norwegian based LNG transportation provider Awilco LNG reduced its net loss in the second quarter of this year due to higher activity of its vessels and steady spot rates.
CMA CGM Deploys Theodore Roosevelt on SAX
The CMA CGM Theodore Roosevelt will be deployed on the South Atlantic Express (SAX) line, linking Asia East Cost to North America Cost through the Panama Canal, says a statement from the company.
DryShips Reports Q2 Loss
DryShips posted a net loss of $15.6 million for the quarter ended June 30, 2017, widening from net loss of $9.1 million a year earlier. However, its revenue wentā¦
NAT CEO Hansson Buys 180,000 Company Shares
Nordic American Tanker (NAT) says a company owned by chairman and CEO Herbjorn Hansson and his immediate family on August 31 bought 180,000 shares in NAT at an average price of $4.61 per shareā.
DryShips Commenses USD 100mln Rights Offering
DryShips Inc. announced the commencement of its previously announced rights offering of shares of common stock, par value $0.01 per share. The Rights Offering isā¦
MAN Engines for the Latest Riviera Luxury Yacht
Riviera 68 Sports Motor Yacht to be powered by MAN V12 engines. Australian yacht builder Riviera Yachts is equipping its new 68 and 72 Sports Motor Yacht models with V12 diesel engines from MAN Engines. Customers have the choice of the V12-1550 or V12-1800 models, as well as MAN Engines' most powerful marine engine available on the market at the moment: the V12-1900. The twin-engine systems provide 1,140 kW (1,550 hp), 1,324 kW (1,800 hp) or 1,397 kW (1,900 hp) twice-over.
Coast Guard Foundation: Harvey Relief
The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, has activated its Disaster Relief and Response Fund to assist Coast Guard Members impacted by Hurricane Harvey. āAs we see the hurricane rescue efforts unfold, we bear witness to the skill and expertise of the men and women of the United States Coast Guard,ā said Susan Ludwig, president, Coast Guard Foundation.
Power Play: Engine Suppliers Prepare for 2020
Kjeld Åbo, Chairman of CIMAC (the International Council on Combustion Engines) Fuels Working Group and Director Customer Support, Two Stroke Marine at MAN Diesel & Turbo, has said that the IMOās proposed 0.5 percent marine fuel sulfur content limit was not unexpected but that there were a number of practical and strategic issues that needed to be addressed if the new regulations were to be implemented successfully by 2020.
Sailing Ships: Ship of the Future?
For as long as there has been a need to transport cargo there has been a maritime industry. Throughout that history both owners and mariners have worked to devise ways of saving costs, making faster transits, and carrying more cargo. In 1819 the Steam Ship Savannah made maritime history by being the first steamship to cross the Atlantic Ocean, sounding eight bells for the traditional cargo carrying tall ship.
āLunch-and-Learnā Planned for Fleet Optimization Conference
The organizers of SHIPPINGInsight 2017 say a Lunch-and-Learn program will be held during the annual Fleet Optimization Conference & Exhibition, to be held October 10-12ā¦
Unmanned RIB to The Rescue
A high-speed rigid inflatable boat (RIB) will be featured in the first unmanned water-borne demonstration to take place at the worldās largest defense and security exhibition, being staged in London this month. The result of a collaboration between BAE Systems and ASV Global, the Pacific 950 optionally-manned RIB has already made waves at Unmanned Warrior naval exercise which took place off the coasts of Scotland and West Wales just under a year ago.
About 13.5% of US Gulf Oil Output Still Shut in by Harvey
About 13.5 percent of oil production in the Gulf of Mexico was shut in on Thursday due to Tropical Storm Harvey, the U.S. Department of the Interior's Bureau ofā¦
The Shearer Group Wins TxDOT Ferry Design Contract
The Shearer Group, Inc. (TSGI) said it was awarded a five-year Indefinite Deliverable contract with the Texas Department of Transportation (TxDOT) to provide designā¦
