Chemical Shipping Freight Rates to Remain Firm
Chemical tanker shipping freight rates are expected to remain firm over the medium term, thanks to rising production capacity in key exporting countries, accordingâŚ
HHIC Seals Deal with Creditors
Cash-strapped South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injectionâŚ
CMA CGM Stake in NOL Edges Past 10%
French container shipping giant CMA CGM now owns 10.07% of its takeover target Singapore's Neptune Orient Lines (NOL) as open share buys continue on a near daily basis.
Cosco Pacific to Buy a 35% Stake in Euromax Terminal Rotterdam
Chinaâs Cosco Pacific Ltd. will buy 35 percent of Euromax Terminal Rotterdam BV for 125.4 million euros ($143 million) for shares and loans amid an overseas expansion drive by Chinese companies.
Safmarine Moves HQ to SA
International container carrier focused on trade to and from Africa, West and Central Asia, Safmarine will move its head office to Cape Town, South Africa, thereby returning to its roots.
IMO Workshop Addresses Antifouling Systems
Flag state and port state roles in ratifying, implementing and enforcing the convention prohibiting the use of harmful antifouling systems on ships (AFS Convention) are on the agenda at a regional workshop held in Jeddah, Saudi Arabia, May 10-11. The workshop sought to increase awareness of government officials and other stakeholders on the benefits and implications of ratifying, implementing and enforcing the Convention.
Red Tide Outbreak Widens in Threat to Fishing Industry
A "red tide" outbreak is widening in southern Chile's fishing-rich waters, the government said on Wednesday, deepening what is already believed to be one of theâŚ
ABS Spearheads Offshore Standardization JIP
Classification society ABS convened industry partners at the Offshore Technology Conference on Wednesday, May 4, to sign a memorandum of understanding (MOU) establishingâŚ
Baltic Exchange Says Talks Ongoing with Potential Buyers
Talks between the Baltic Exchange and a number of suitors are continuing, but any potential buyer of the business will have to provide assurances that its centralâŚ
TNPA Invests in Port of Ngqura
Two new landmarks at the Port of Ngqura, which are part of ongoing developments to position the port as a container transhipment hub for Sub-Saharan Africa, were officially launched by Transnet National Ports Authority (TNPA) today. The new landmarks are the portâs state-of-the-art administration building and an administration craft basin for pilot boats and tugboats, including office facilities for operational staff working on these craft.
Voith Linear Jet Offers Fuel Savings
Crew transfer vessel operators using the new Voith Linear Jet (VLJ) marine propulsion system can save over £75,000 in fuel costs in a season, the manufacturer claims. The cost saving, around 20 percent, is a key figure from the collection of extensive data from four monthsâ operation in a range of sea conditions, working at different speeds and with different loadings. The Voith Linear Jet, unveiled last year as a âworld firstâ in marine propulsion technologyâŚ
Baltic Index Down on Weaker Capesize, Smaller Ship Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was down on Wednesday on weaker demand for capesizes and smaller vessels.
US Navy Awards Austal $18.5 Mln Procurement Deal
Austal USA announced it has secured a $18.5 million contract to procure long-lead materials for the 12th Expeditionary Fast Transport vessel (EPF) for the U.S. Navy, including main propulsion engines, generators, water jets, main reduction gears and other long-lead time items. âThis material procurement contract is further evidence of the Navyâs unwavering support of the EPF programâs continuing success,â Austal USA President Craig Perciavalle said.
Pemex Boosts Crude Shipments to Japan
Mexico's state-run oil company Pemex will increase crude exports to Japan in the coming months after selling several spot cargoes to customers including Cosmo OilâŚ
This Day In Naval History - May 11
1862 - CSS Virginia is destroyed by Confederates off Craney Island to prevent capture. 1898 - During the Spanish-American War, Marines and Sailors from USS MarbleheadâŚ
Carnival to Open State-of-the-art Training Center
Carnival Corporation & plc announced today that its Arison Maritime Center in the Netherlands will honor the legacy of the Arison family who founded and grew the company into the worldâs largest cruise line operation. The company also announced that construction is now well underway for what will be a state-of-the-art campus located in Almere, just outside Amsterdam. A grand opening celebration at the center is scheduled for July 14, 2016.
MTU Diesel Gensets Ordered for UK Combat Ships
Rolls-Royce is to supply 12 MTU diesel gensets to prime contractor BAE Systems for the first three Type 26 Global Combat Ships due to go into service with the U.K Royal Navy. The deal means that the core components of the frigateâs combined propulsion system will come from Rolls-Royce: four MTU diesel gensets with 20V 4000 M53B engines, each delivering 3,015 kW of mechanical power, and one Rolls-Royce MT30 gas turbine. The MTU brand is part of Rolls-Royce Power Systems.
Great Lakes Iron Ore Trade Up 23.4% in April
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5,355,855 tons in April, an increase of 23.4 percent compared to a year ago, according to the Lake Carriersâ Association (LCA).
ASIS's 7.5m RIBs Get Their Sea Legs
ASIS Boats announced the completion of the first of the new production series 7.5m Asis RIBs to be equipped with Sealegs System 60 amphibious technology. The 7.5m Asis Midi will include the two-wheel drive and automatic braking systems as well as power steering and high quality, marine-ready Sealegs components. Powered by a 150HP Evinrude E-Tec on the water, the craft reaches speeds of up to 39 knots.
Peace Boat Ecoship: âWorldâs Most Sustainable Cruise Shipâ
The Peace Boat Ecoshipâs propulsion features a combination of wind energy, anti-drag elements and cleaner fuels. The concept will be presented at the Natural Propulsion seminar by Dr. Andrés Molina, Project Director of the Ecoship Project. âThe Ecoshipâs propulsion system will combine some of the most forward-looking elements that the industry has developed and, without any doubt, break new ground in how natural propulsion is perceived in cruising,â Molina said.
