CMA CGM profits up 43%
French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth…
A Better Charter Market in 2016?
Shipowners that charter out container ships to liner operators are hopeful that 2016 will bring increased demand and higher charter rates for containerships, JoC reports.
Ship Ownership is a Closely Held Market
Even though shipping is a global industry, ownership is fairly well concentrated in a relatively small number of major centres, says a research from Clarksons. The…
ABG Ties Up with GTT for LNG Technology
ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint.
Great Lakes Losing Ice
The Great Lakes Environmental Research Laboratory reports ice cover for all of the Great Lakes combined at around 52%, thanks to milder temperatures and gusty winds over the past several weeks.
Heerema Signs LOI with Jurong Shipyard for Giant Crane Vessel
Dutch offshore contractor Heerema Offshore Services has signed a letter of intent (LOI) with Sembcorp Marine’s Jurong Shipyard in Singapore for the construction…
US Navy: Future USS John Finn (DDG 113) Launched
The future USS John Finn (DDG 113) was launched at the Huntington Ingalls Industries (HII) shipyard March 28. During launch the drydock was flooded allowing the 637-foot floating dock to slowly submerge until the ship was afloat. Once the drydock was fully submerged, the ship was pulled by tugs to HII's south berth where the ship will continue outfitting in preparation for test and activation and eventual delivery to the Navy.
WISTA AGM to Address Emerging Shipping Challenges
Leaders in the shipping community will gather from across the country to discuss the emerging challenges facing the shipping industry. Speakers will include Joseph Hughes…
WOW at USMMA
The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.S.
Methanol Powered Ferry Launched in Baltic Sea
Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first. The company spent $24 million on converting the ship to methanol. The ferry re-entered service on March 26, serving its route on the Baltic sea between Kiel, Germany, and Goteberg, Sweden. The 240m, 1,500-passenger, 2001-built ro-pax ship underwent conversion in Poland’s Remontowa shipyard.
U.S. Oil Train Traffic mostly from Midwest to East Coast
U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first…
VIKING LifeCraft Presented at IMO
This week, VIKING Life-Saving Equipment took a step towards gaining approval for the VIKING LifeCraft, its alternative life-saving appliance (LSA) for passenger ships. The concept was presented to the International Maritime Organization’s Sub-Committee on Ships Systems and Equipment in London on 25th March, with the full support of the Danish Maritime Authority. More than 180 delegates stayed beyond the day’s normal business to hear from Niels Fraende…
MAN Demonstrates Two-Stroke Methanol Engine Concept
MAN Diesel & Turbo successfully demonstrated its ME-LGI concept engine in front of customers and partners at its Diesel Research Center in Copenhagen on March 17th, the company announced today. “A number of years ago we identified the need to develop an engine that could run on more environmentally-friendly, competitively-priced fuels as an alternative to MDO/MGO," said Vice President and Head of R&D, Søren H. Jensen.
Sea Star Continues Puerto Rico Investments
Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico. The new asset has the capacity for 320 dry units and its initial departure is scheduled for the first week of April. In January, Sea Star Line added two barges to address increased demand in the market. The total capacity for both barges is 750 FEUs with dedicated space for 84 refrigerated containers.
Rand Logistics Announces Debt Refinancing
Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's senior…
Maersk to Install Transas ECDIS on 100 Vessels
Maersk Line, the world's largest container company, has selected Transas Marine for ECDIS implementation on more than 100 vessels, Transas announced today. The contract features the Transas Navi-Sailor ECDIS 4000 in dual configuration plus a back-up station on each vessel. According to the agreement signed between Maersk Line and Transas Marine, existing Electronic Chart Display & Information Systems…
KVH Outlines Ship-to-Shore Connectivity
The next generation of connectivity between ship and shore will be dominated by the development of applications to help ship owners and managers reduce costs by enhancing operational efficiency, automating processes, and avoiding expensive repairs, according to one of the world’s leading suppliers of satellite communications to the maritime industry. Brent Bruun, Executive Vice President of Mobile Broadband at KVH Industries…
Baltic Sea Freight Index Edges Higher
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.
Rotterdam Gate LNG Terminal Expansion Started
Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.
MARIN, Cruden, Tree C Technology Forge Small Ship Simulator
Severe vibrations and shocks of up to 9G over an average of 1000 hours per year. That’s what instructors of fast small ships such as the Fast Raiding, Interception and Special Forces Crafts (FRISC) currently have to endure. But that will soon become a thing of the past. In two years’ time operators of these types of craft will be trained using a Fast Small Ship Simulator (FSSS). That’s just one of…
