London P&I Club Reports Increased Free Reserves for 2016/2017
The London P&I Club has issued an advance summary of its result for the 2016/2017 financial year, ahead of the publication of its annual report. The Club recorded an overall surplus of $27.3 million, increasing the free reserve to $188 million. The combined ratio was 97.9 percent. The positive technical performance was supplemented by an investment return of 8.4 percent. Ian Gooch, CEO of the Clubâs management team commentedâŠ
Baltic Index Sags Again
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for an eleventh straight session on Wednesday as rates across vessels segments weakened.
U.S. FMC Unanimously Rejects Proposed Tripartite Pact
U.S. Federal Maritime Commissioner William P. Yesterday, I voted to reject the Tripartite Agreement proposed by Kawasaki Kisen Kaisha, Ltd. (K Line); Mitsui O.S.K. Lines Ltd.
Wärtsilä 34DF Engines Certified EPA Tier III
Wärtsilä said it has been awarded model year 2017 certification of emissions compliance from the U.S. Environmental Protection Agency (EPA) for its Wärtsilä 34DF dual-fuel engine family. The EPA Tier III certification and the corresponding EIAPP certificate were both issued in March 2017. The Tier III certification of conformity covers the Wärtsilä 34DF engines manufactured from the date of issue until the end of 2017.
Dry Bulk Shipping Remains Positive: Drewry
The outlook for dry bulk shipping remains positive given the shrinking supply-demand gap, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.
Whatâs Next for Ballast Water Management?
Latest developments on the entry into force of the Ballast Water Management (BWM) Convention took centre stage at the 8th International Conference on Ballast WaterâŠ
DNV GL Eyes Dynamic Risk Assessment
Traditional risk management practices involves operators navigating large static risk reports, in addition to handling massive amounts of data, with a limited timeframeâŠ
Havyard to Build World's Largest Live Fish Carrier
Sølvtrans orders the worldâs largest live fish carrier from Havyard. The worldâs largest shall, in addition, offer the best fish welfare in the world. The live fish carrierâŠ
AMSOL Bags New Contracts
AMSOL has been awarded a five-year contract by the South African Department of Transport to operate the standby tug utilized as part of state driven proactive marine pollution prevention measures.
Global Ship Lease Report Q1 Financials
The containership charter owner Global Ship Lease (GSL) has reported first-quarter net income of $6.8 million. Its revenue stood at $39.6 mln for the Quarter. Ian WebberâŠ
TMC Compressors for Höegh FSRU
TMC Compressors (TMC) said it has penned a contract with shipbuilder Hyundai Heavy Industries to supply a complete marine compressed air system to a new-build floating storage and regasification unit (FSRU) the South Korean yard is building for Höegh LNG. TMC scope of work includes engineering, manufacturing and supply of a complete compressed air system consisting of 2 x 44 kW service air compressors and 2 x 44 kW control air compressors. The contract value is undisclosed.
Largest Ship To-date Transits Expanded Panama Canal
The 13,092 TEU Neopanamax containership COSCO Development, which measures 366 meters in length and 48.2 meters in beam, today became the largest vessel both in dimension and capacity to transit the Expanded Panama Canal since it was inaugurated in June 2016. Sailing from Asia, COSCO Development will soon become the largest ship to arrive on the U.S. East Coast when it calls at several ports there next week.
Brazil Posts Record Trade Surplus for April
Brazil's trade surplus rose to $6.969 billion last month, government data showed on Monday, a record for a month of April as prices for main exports such as soy, iron ore and oil rose. Exports totaled $17.686 billion and imports $10.717 billion. Economists in a Reuters poll predicted a surplus of $7.03 billion, according to their median forecast, after a surplus of $4.862 billion in April 2016. (Reporting by Silvio Cascione; Editing by Jonathan Oatis)
Curtis Joins The Shearer Group
Naval architect Kyle Curtis has joined naval architecture, marine engineering and marine surveying firm The Shearer Group, Inc. (TSGI). Prior to joining TSGI, Curtis worked for Versabar in Houston as a marine engineer and a structural engineer. He received a B.S. in Ocean Engineering from Texas A&M University where he also received the Deanâs Honor Award and participated as the Treasurer of the Ocean Engineering Society.
Newcastlemax Bulker Delivered to DryShips
Ship owner DryShips Inc. announced that it has taken delivery of a 205,855 DWT Newcastlemax drybulk vessel built in 2014. The vessel was delivered to its one yearâŠ
New Crane for Offshore Wind Turbine Repair
Huisman said it has developed a new lightweight crane type for the maintenance of offshore wind turbines: the 'Foldable Offshore Crane'. The crane combines unparalleled lifting heights and more than sufficient lifting capacity with a foldable boom resulting in less required deck space and a low own weight of the crane, Huisman said. The selection of this crane for the maintenance of offshore wind turbines will therefore require a smallerâŠ
Santos Express Delivered to Hapag-Lloyd
Hapag-Lloydâs newest containership Santos Express was recently delivered from Hyundai Samho Heavy Industries (HSHI) in South Korea. The 10,500 TEU capacity, 333 meter long ship is the final of five vessels in the Valparaíso Express class. The vessel fits through the new locks of the Panama Canal and will be deployed in liner service between North Europe and South America. Following its recent merger with UASCâŠ
OSM Sees Offshore Activity Uptick
The offshore supply industry is largely in turmoil, staring down issues with overcapacity, lay-ups, layoffs, industry restructuring and asset speculation happening on a broad scale. OSM, a Norway based third-party management provider in the maritime industry, said it saw an increased number of vessels laid-up in 2016 with a reduction in the available offshore crew positions, but so far 2017 has been a different story.
Nominated China Ambassador Tough on South China Sea
U.S. President Donald Trump's nominee to be the U.S. ambassador to China took a tough line on Tuesday on China's development of "artificial islands" in the South China Sea.
Jones Act MPSV Harvey Sub-Sea Delivered
Harvey Gulf International Marine has announced the delivery of the first of two, large capacity multipurpose support vessels (MPSV) scheduled for 2017 deliveries, enhancing the domestic Jones Act Fleet. This first vessel, the M/V Harvey Sub-Sea, is a Jones Act-qualified vessel that has the technical capabilities to efficiently, effectively and safely perform high quality field development activities that are currently being performed by a foreign fleet. As U.S.
