Baltic Index Falls for Fourth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight session on Monday, pressured by weaker capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 3 points, or 0.35 percent, at 848 points. The capesize index lost 44 points, or 3.63 percent, at 1,169 points.
Qatargas to Supply LNG to Shell
Qatargas and Shell have signed a memorandum of understanding (MOU) that will lead to the two companies jointly researching liquefied natural gas (LNG) logistics.
DOF Subsea Shelves IPO Plans
Norway's DOF Subsea has decided to hold off on launching its initial public offering (IPO), citing volatile market conditions. Company shareholders DOF ASA, with 51 percent…
European e-Navigation Solutions Tested for Human Factors
The EU funded EfficienSea2 project, which aims to implement innovative and smart solutions to increase efficient, safe and sustainable traffic at sea, has finished…
Latvian Shipping Company Adds 25th Tanker to its Fleet
The JSC Latvian Shipping Company subsidiary LSC Shipmanagement (LSCSM) supplemented the fleet under its full technical management with a newbuilding “Elandra Falcon”…
Malta Hosts European Shortsea Network Meeting
European Shortsea Network (ESN) meeting was held in Malta with representatives from 11 European countries at the head office of Malta Freeport Terminals, says a report in Times of Malta.
Wells Fargo Calls $100 Oil a 'Pipe Dream'
USD 100 per barrel oil is but a “pipe dream,” Wells Fargo said in a new investor note, reports MarketWatch. The report quoted Wells Fargo’s John LaForge saying…
Seven Sailors Killed as US Navy Destroyer Collides with a Container Ship
Bodies of seven U.S. sailors recovered after the U.S. destroyer collided with with Philippine-flagged vessel CX Crystal near south of Tokyo Bay in Japan. The bodies…
Noble Drillship Bags New Contract
Noble Corporation has been awarded new contracts for one of its drillships under which the unit will operate in the U.S. Gulf of Mexico and later Suriname. The 2013…
Indian Shipping Bucks Trends with Positive Growth
The Indian shipping industry is registering a positive growth amid a downward trend globally, Union Minister of State for Shipping, Pon Radhakrishnan said. “While…
Vroon Says Talks with Banks ‘Constructive’
Troubled family-owned Dutch shipping group Redderij Vroon has dismissed media reports claiming the company’s future to be uncertain, as it may be unable to service its debt.
CEFC Bags Bunker Licence for Zhoushan Free Trade Zone, China
CEFC China Energy was awarded a licence by Zhoushan Free Trade Zone for supply marine bunker fuel off the east coast of China to vessels on international voyages, reports Reuters.
Autonomous Ships on IMO Agenda
Now, the International Maritime Organization (IMO) Maritime Safety Committee will start to establish a new international legal framework for the safe operation of autonomous ships…
Hapag-Lloyd's Newest Ship Named Guayaquil Express
Hapag-Lloyd held a naming ceremony in Hamburg for the Guayaquil Express, the fourth of five newbuildings in its 10,500 TEU class. The patron is Christine Kühne, wife of Klaus-Michael Kühne…
CGG Files for Bankruptcy
French geosciences giant CGG has filed for bankruptcy as part of financial restructuring process to reduce its $3 billion debt. "CGG has begun legal processes to…
Exxon, Partners Set $4.4 Bln for Oil Project Offshore Guyana
Exxon Mobil Corp said on Friday it and partners would spend $4.4 billion to develop part of the Liza oilfield off the coast of Guyana, approving a megaproject at…
NYC Jobs Plan Aims to Bolster Freight Network
New York City Mayor Bill de Blasio today unveiled a series of initiatives aiming to spur 100,000 high-paying jobs over the coming decade across a number of sectors, including the City's maritime and intermodal freight and logistics industries. As part of the New York Works plan, the city will implement a multipronged strategy called Freight NYC that seeks to create 4,000 freight network industrial…
Finite Element Strength Analysis for ATB Load Box
The loading and response dynamics of an Articulated Tug & Barge (ATB) load box are complex. They typically require advanced finite element analysis methods and procedures to design an efficient support structure to ensure a durable design and to facilitate meeting Class strength requirements. To study the dynamic response of the loads imparted on the tug from the barge, a finite element analysis (FEA) is carried out.
STM Validation: Interoperable Ship and Shore Center Services
Inspired by the European program for Air Traffic Managemen, the Sea Traffic Management (STM) methodology has been developed by the Swedish Maritime Administration MonaLisa project to define a set of systems and procedures to guide and monitor maritime traffic. The STM Validation project co-financed by the European Union has made the first operational tests with the shore center manufacturers. The key to the interoperability between different systems is the robust underlying infrastructure.
Steinsvik Updates Its ShipConstructor Suite
SSI announced the recent sale of more ShipConstructor software to the Vietnamese office of Steinsvik, the major Norwegian aquaculture firm. Steinsvik Vietnam Co. Ltd.
