China's Tariffs on US Oil Would Disrupt $1 Bln Monthly Business
China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States' trade deficit with most of its major trading partners, including China, U.S. President Donald Trump said last week he was pushing ahead with hefty tariffs on $50 billion of Chinese imports, starting…
Asian Shares, Oil Fall as US-China Trade Spat Escalates
Asian shares fell to a 2-1/2 week low on Monday after U.S. President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.Fears of a global trade war added to pressure on oil prices, which extended Friday's big fall, while the dollar retreated from near 3-week highs against the safe haven yen.Spreadbetters suggested a subdued start for European shares, with FTSE futures off about 0.1 percent. U.S.
Green Bed Leveler for Dutch Dredging
With the delivery of the Peter last Thursday, Dutch Dredging (Baggerbedrijf de Boer) claims to have added “the world's most sustainable bed leveler” to its fleet.The 22.4-metre-long vessel, built by Hoekman Shipbuilding in Urk, the Netherlands, complies with International Maritime Organization (IMO) Tier 3 emissions standards as well as the Euro Stage 5 standard for emissions in inland shipping.John Nieuwenhuijse…
Baltic Index Ends Slightly Lower as Panamax Demand Slips
The Baltic Exchange's main sea freight index edged lower on Monday, after rising for the previous four sessions, as demand for panamax vessels faltered.* The overall index, which tracks rates for ships carrying dry bulk commodities, dipped 3 points, or 0.21 percent, to 1,442 points.* The index, which factors in rates for capesize, panamax and supramax shipping vessels, hit a one-month high of 1,445 points on Friday.* The panamax index fell 13 points, or 0.87 percent, to 1,482 points, its biggest
ExxonMobil Considers Importing LNG to Australia
ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no.2 energy retailer AGL Energy to start importing LNG by 2021 and a consortium involving Japan's JERA to start imports from 2020.ExxonMobil is also stepping…
Interesting Launch for Interesting Tugs
The ownership of the Canadian firm Island Tug and Barge has changed with the purchase by the U.S. parent company Tidewater Inc. The firm is now known as Island Tug.The second tug, with the hull and superstructure completed and with the Cummins K38s installed still requires more work, was also launched in early May of 2018.The vessels were built in a warehouse on the Fraser River. With no launching facility and a railway track between the yard and the steep bank of the river…
New Feeder Solution to Serve US Offshore Wind Market
Dutch companies GustoMSC and Barge Master join forces in the development of a motion-compensated feeder solution to service the emerging U.S. offshore wind marketsThis solution offers a flexible and cost-effective alternative for installing the first wave of U.S. projects. Combining the strengths of both companies creates a strong and advanced technical organization with commercial representative offices in the United States…
Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round
Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the Barents Sea and three in the Norwegian Sea off central Norway, the Ministry of Oil and Energy said on Monday."This licensing round confirms that the oil companies see opportunities for further profitable petroleum activity in the north…
Al-Iraqia Shipping Commences Bunkering Operations in Iraq
Al-Iraqia Shipping Services & Oil Trading (AISSOT) is shortly commencing bunkering operations at Iraqi Ports mainly at Basra, Khor Al-Zubair and Umm Qasr. AISSOT is a joint-venture company of Iraqi Oil Tankers Company (IOTC) & Arab Maritime Petroleum Transport Company (AMPTC) to handle plethora of activities ranging from Trading of petroleum products, Ship chartering, Oil terminals, various Marine services, and Bunkering.
NYK Line, Asahi Shipping Sign Contract with Kobe Steel
Nippon Yusen Kabushiki Kaisha (NYK Line) together with Asahi Shipping, has concluded a long-term contract with Kobe Steel for the transport of coal for up to 20 years aboard a newly built ship. After delivery of the new vessel from Oshima Shipbuilding in 2021, the ship will transport coal from locations outside Japan to mainly the city of Kobe. This ship will be equipped with a diesel engine compliant with a more stringent environmental regulation limiting nitrogen oxide (NOx) emissions — i.e.…
DP World Not for Settlement with Djibouti
The Dubai-based port operator DP World said that it will not consider alternative legal options outside a court settlement in a dispute with the Djibouti government over the Doraleh Container Terminal. A DP World spokesperson said that the concession agreement remains in place, and the action taken by the Djiboutian government is subject to legal process in the International court of Arbitration in London. “We await the outcome of this process.
Yang Ming Wins the 2017 Blue Circle Awards
Taiwanese ocean shipping company Yang Ming Marine Transport Corp was granted the “2017 Blue Circle Awards” by Vancouver Fraser Port Authority (VFPA). This is the third time Yang Ming being recognized for its environmental commitment by VFPA since 2015. Bella Yang, President of YANG MING SHIPPING (CANADA) LTD., represented Yang Ming to receive the honor. The Blue Circle Awards is a recognition reserved…
Navios Maritime Containers files for a $100 million IPO
Monaco-based container ship company Navios Maritime Containers has filed with the SEC to raise up to $100 million in an initial public offering. The information of IPO was originally provided by the IPO investment manager Renaissance Capital. The Navios Holdings company run by Angeliki Frangou was founded in 2017 and booked $69 million in sales for the 12 months ended March 31, 2018. According to the company website: "We are a growth-oriented international owner and operator of containerships.
Russia's Q3 Oil Exports via Baltic Ports Seen Falling
Russian exports and transit of Urals oil through Baltic Sea ports are seen at 19.15 million tonnes in the third quarter, down from 19.8 million tonnes in the second quarter, industry sources said.Exports of Russian Urals and Siberian light oil from the Black Sea port of Novorossiisk are expected to rise to 8.5 million tonnes in the third quarter from 8.1 million tonnes in the second quarter, the sources said.(Reporting by Olga Yagova; writing by Maria Tsvetkova; editing by Jason Neely)
Fire Aboard 1,000-foot Freighter in Lake Superior
The U.S. Coast Guard received a report of a generator fire aboard a 1,013 foot bulk carrier freighter in Lake Superior, at 4:20 a.m. Monday.The master of motor vessel Paul R. Tregurtha reported the fire extinguished at 5:30 a.m. and stated that there were no injuries or pollution, and all 23 crewmembers are accounted for.The ship is carrying 68,200 tons of coal, 124,000 gallons of fuel and 88,000 gallons…
Nor Lines Cargo Vessels to Bunker with Titan LNG
Shipping company Nor Lines has allocated its two LNG-powered multipurpose vessels to a biweekly liner service from the SCA terminal in Rotterdam to the Norwegian coast. Titan LNG, the service supplier of liquefied natural gas, will be supplying the chilled fuel to two Nor Lines' vessels - The MV Kvitnos and the MV Kvitbjørn. The ships are bunkering, like the Wes Amelie, with Titan LNG at the City Terminal in the Prins Willem Alexander harbour (port number 2790).
Dorian LPG Rejects BW LPG Merger Offer
Dorian LPG announced that its Board of Directors has unanimously declined an unsolicited, conditional proposal from Norway's BW LPG, the world's largest liquid petroleum gas shipper, to combine with Dorian in a stock-for-stock transaction. After a thorough review, conducted in consultation with its financial and legal advisors, the Board of Directors unanimously concluded that the proposal is not in the best interests of Dorian and its shareholders., said a press release from the company.
SSA Terminals Extends Marine Lease at Oakland
A major global marine terminal operator has OKd a new Port of Oakland lease that runs through 2027. The agreement includes options that could keep SSA Terminals (Oakland) here to 2042. The Port today characterized the deal as validation for the city’s maritime future. “SSA is an influential player on the waterfront worldwide, and a significant presence in Oakland,” said Port Maritime Director John Driscoll. Oakland’s Board of Port Commissioners approved the new lease last night.
Australia's Port Kembla Reopens after Bulker Fire
A fire in the hold of a bulker ship on Monday briefly closed Australia's Port Kembla, the second-largest coal export port in New South Wales state, stopping shipping for eight hours.The port was shut soon after the blaze began before dawn on the MV Iron Chieftain as it unloaded dolomite, a mineral used in steelmaking which was destined for BlueScope Steel Ltd's nearby blast furnace. No injuries were…
China Investigating Senior Executive at CSIC
China's anti-graft agency said on Saturday it is investigating the general manager of state-owned China Shipbuilding Industry Corp (CSIC).Sun Bo is suspected of serious disciplinary and legal violatio