Meyer Turku Builds Big
Maritime Reporter & Engineering News recently visited Finnish shipbuilding giant Meyer Turku, whose sights are set on building bigger. It is safe to say that when shipbuilding commenced in the town of Turku, Finland in 1737, the company building wooden boats at the time could not have envisioned the enormous vessels that would eventually be built by the site’s current occupant, Meyer Turku. The Meyer family…
Plan for Safety: Leadership is Key
Effective leadership and a safety management system are the keys to success. Failure to lead has consequences. Over the last 20 years we have seen a dramatic shift in the way that our industry operates. When I started practicing law, many companies looked at safety planning as a balancing act where you weighed the costs associated with safety against the costs associated with working through employee claims. Unfortunately, our employees often ended up on the losing side of the balancing test.
Canadian Fleets, Seaway Invest $160 Mln for 2017 Season
Canadian ship owners and the St. Lawrence Seaway have spent an estimated $160 million on repair and infrastructure projects this winter, boosting the economic fortunes of communities throughout the Great Lakes, the St. Lawrence and east coast, according to the Chamber of Marine Commerce. Canadian ship owners have invested an estimated $70 million to maintain and upgrade their vessels during the winter…
Rising Oil, Salmon Prices Lift Norway Pension Fund
Norway's domestic state pension fund Folketrygdfondet said its 2016 return increased to 7.1 percent from 7.0 percent in 2015, increasing the market value to 212.3 billion Norwegian crowns ($25.12 billion). "Improved outlook for the global economy, rise in oil prices and record high salmon prices ensured solid results for the year," Folketrygdfondet's Chief Executive Olaug Svarva said on Tuesday. The fund says the return beat the market by 1.2 percent.
Grand Bahama Shipyard Starts 2017 Strong
Caribbean shipyard Grand Bahama Shipyard Limited (GBSL) said it will complete work on 10 cruise vessels within first quarter of 2017. Scope of works included significant propulsion and technical systems overhauls, hull treatment, accommodations and public spaces upgrades and the addition of onboard attraction facilities. GBSL shared highlights of 10 of the 23 cruise vessels owned and/or operated by major players in the industry planned for dry-docking in the first quarter of 2017.
Soaring Capesize Rates Push Baltic Index to 12-week High
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at a 12-week high on Tuesday on stronger rates across all vessel segments, especially capesizes. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, ended up 54 points, or 5.52 percent, at 1,033 points. The capesize index surged 211 points, or 15.69 percent, to end at a six-week high of 1,556 points.
Global Maritime Promotes Thomassen
Marine, offshore and engineering consultancy Global Maritime Consultancy & Engineering has appointed Espen Thomassen as Regional Manager for the Americas. Thomassen has been tasked with growing Global Maritime’s business throughout the region, which, in addition to Houston, includes offices in Brazil and Canada. He will also lead Global Maritime’s involvement in providing Sub Chapter M compliance services to inland waterways towing vessels throughout the US. Sub Chapter M represents new U.S.
The Perfect Storm of Digitalization and Commoditization
Frank Coles, Transas CEO, delivered the keynote speech at the Transas Global Conference in Malta. We are faced with the perfect storm in the next few years. Many will conclude it is all the fault of President Trump, but in fact it is actually nothing to do with him. If anything he is going to enable the industry to think smarter because he is also bringing change. The perfect storm is the one confronting the maritime industry.
DHT Sells 18-year-old VLCC for $19.1 Mln
Crude oil tanker owner and operator DHT Holdings, Inc. said it has entered into agreement to sell the 1999-built very large crude carrier (VLCC) DHT Phoenix for $19.1 million.
Pilbara Marine Orders 6 Rotor Tugs
Pilbara Marine Pty Ltd, a wholly owned subsidiary of Fortescue Metals Group Ltd has placed an order with Damen Shipyards for the building of six, 32-meter Rotor Tugs. These will be deployed at the company’s operations at Port Hedland on Australia’s west coast, the world’s largest bulk export port. From there, Fortescue exports 165-170 million metric tons of iron ore per year. The six tugs are of the ART 85-32W class, designed by Robert Allan Ltd.
Maersk, Denmark Close In On North Sea Oil Deal
Oil and shipping conglomerate A.P Moller-Maersk could land a deal with the Danish government on oil and gas operations in the North Sea within days, political sources with knowledge of the negotiations told Reuters on Tuesday. The deal will secure continued production in the Danish part of the North Sea and is seen as crucial for Maersk as it seeks to focus its operations on the North Sea and spin off its energy assets via a listing or merger.
SM Line Launches New Shipping Services
South Korea's new container carrier, SM Line, which is built mainly on the remains of collapsed Hanjin Shipping, plans to kick off operations with as many as nine routes this year.
Hanjin Shipping to be Delisted Today
Hanjin Shipping, once the country's top shipping line, will be delisted from the domestic bourse today (March 7), ending its eight-year trading history, Yonhap…
G2 Ocean Given All Anti Trust Approvals
The US Department of Justice has approved the establishment of G2 Ocean. Authorities in Poland, Germany and Brazil have already approved G2 Ocean. This means the…
Chidambaranar Port Trust Celebrates Safety Week
46th Safety Week Celebration was inaugurated in V.O. Chidambaranar Port. The Safety Week Celebration for the year 2017 commenced with the flagging off of safety procession by U.
S. African Watchdog Seeks Penalty Against K-Line
South Africa’s competition watchdog is seeking to fine Japan’s Kawasaki Kisen Kaisha (K-Line) as much as 10 percent of its annual revenue in the country for colluding…
US, Japan to Participate in MultiSail 2017
The U.S. Navy and Japan Maritime Self-Defense Force (JMSDF) are participating in the annual bilateral training exercise MultiSail 2017, March 6-10. Participants include six U.S.
DryShips Opts for Second VLGC Newbuild
DryShips Inc., owner of ocean going cargo vessels, said it has exercised its second option under a previously announced option agreement to acquire up to four very…
Ice Kings: Model Testing Ship-ice Interactions
Model testing ship-ice interactions in the St. In a cavernous room in the heart of a research center in St. John’s, Newfoundland at 8 am, the air temperature is -20 C while the water temperature is hovering at zero. National Research Council of Canada (NRC) staff are preparing the Ice Tank to test the integrity of a newly designed ship’s hull and propulsion system by subjecting a model to a battery of maneuvers and encounters with ice.
Harley Marine Christens Earl W Redd
Harley Marine Services christened its newest tractor tug Earl W Redd, officially welcoming her to the fleet on Friday, February 10. Built at Diversified Marine of Portland, Ore., the Earl W Redd features twin Cat 3516 Tier 4 Final main engines that will each produce 2,675 horsepower at 1,600 rpm. Each of the engines is paired with a selective catalytic reduction (SCR) after treatment system that uses…
