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Aker Floating Production Wins $1b Contract

Aker Floating Production ASA said it had won a 10-year contract from Reliance Industries Limited worth $1.1b. Aker said Reliance Industries Limited had exercised an option to call a 10-year bare boat contract with Aker's subsidiary Aker Contracting for the FPSO (floating production, storage and offloading vessel) Aker SMART 1.


LLMC Increases – ICS Supports IMO Agreement

ICS logo.jpg

The International Chamber of Shipping (ICS), which represents all sectors and trades and over 80% of the global shipping industry, and leads shipowner representation at the International Maritime Organization (IMO) Legal Committee, has expressed strong support for the agreement reached by IMO this week to increase the limits of liability under the Limitation of Liability for Maritime Claims Convention 1996 (LLMC), by 51%.  


Keppel Hitachi Zosen To Buy Selected Businesses

Keppel Hitachi Zosen Limited (KHZ) has agreed to purchase the shiprepair/shipbuilding and related businesses of Keppel Marine Industries Limited (KMI) for $167 million in cash. Total net assets include $69 million, resulting in a gain of $4 million for KMI. KHZ will acquire all of KMI's investments in Keppel Singmarine Dockyard Pte, Eagle Engineering Company (100 percent), Keppel Philippines Marine (11.6 percent) and Penguin Boat International (16.5 percent)


Danaos Upgrades Vessel Sizes

Danaos Corporation agreed with China Shipbuilding Trading Company Limited the upgrading of its earlier order for four 6,800 TEU containerships to four 8,400 TEU vessels and signed the amendments to the relevant shipbuilding contracts. These vessels will be built by the Shanghai Jiangnan Changxing Heavy Industry Company Limited and are expected to be delivered to Danaos during 2010. The total capital expenditure commitment for this project is in the region of $500 million and is expected


Boat Manufacturer Introduces Warranty Scheme

Smoker Craft Inc. give warranty on hull & superstructure, other components on most of its models An industry leading warranty gives even more reliability to the confidence in the Smoker Craft family of boats. The warranty includes a limited lifetime warranty on the hull and structure, and a six-year warranty on all components, carpet, upholstery and electronics on most models. It is fully transferable to a second owner, and includes parts and labor. 


Swissco Steps Into Offshore Rig Chartering Business

Image courtesy of Swissco

Singapore based marine service provider for the offshore oil and gas industry, Swissco Holdings Limited, informs it has entered into a definitive Sale and Purchase Agreement for the  S$285.0 million acquisition of Scott and English Energy Pte. Ltd. which will enable Swissco to move into the offshore rig chartering business. Swissco adds that the SPA was signed with Double Dragon Energy Holdings Limited for the acquisition of the entire issued and paid-up share capital in Scott and English


MAN B&W Tier-II Engine Ready for Delivery

Photo courtesy MAN Diesel

The first Tier-II compliant MAN B&W engine has finished production at HHI-EMD (Hyundai Heavy Industries Engine & Machinery Division) in Korea and is ready for delivery. The low-speed, two-stroke MAN B&W 6S50ME-C7 type engine will power a shuttle tanker (hull number 1749), currently under construction by Samsung Heavy Industries Co., Ltd., and ordered by Teekay, global provider of marine services to the oil and gas industry. Ship delivery is planned for July this year.


Baltic Trading to Buy Two More Ultramax Bulkers

Bulk carrier: File photo

Baltic Trading Limited continues to execute its growth strategy with the exercise of its option to acquire two additional Ultramax newbuildings. The two option vessels, which will have the same specifications and purchase price as the Ultramax newbuildings Baltic Trading previously agreed to acquire, are expected to be delivered to Baltic Trading during the second and third quarters of 2015. John C. Wobensmith, President and Chief Financial Officer, commented


UK Minister Rebuffs Plea to Delay SOx Limit Implementation

Minister Stephen Hammond

An attempt by the UK’s Chamber of Shipping last week to persuade the British government that the industry needed more time to comply with new sulphur emission limits entering force on 1 January next year received short shrift from the shipping minister. However the Chamber, along with other European shipowners' associations, is reported to be determined to continue its campaign, reports shipping trade association Maritime London.


Heading Towards the 2020 Sulphur Limit

Photo: International Maritime Organization (IMO)

 The need for all stakeholders to work towards effective and consistent implementation of the 2020 0.50% global sulphur limit has been highlighted during maritime industry events in Denmark this week.    International Maritime Organization (IMO)’s Edmund Hughes spoke about IMO’s role moving towards the 0.50% sulphur limit at an event focusing on the “2020 global sulphur challenge: Implementation and Enforcement”


Svitzer Bags FSRU Support Contract in Bangladesh

 Svitzer Bags FSRU Support Contract in Bangladesh   Svitzer will provide marine support services for the Excelerate Energy FSRU at Bangladesh’s first liquefied natural gas (LNG) import terminal.   Excelerate Energy Bangladesh Limited awarded Svitzer the 15-year contract


Standard Club Establishes New Offshore Advisory Committee

Logo: The Standard Club

 The Standard Club is driving developments in offshore P&I with the launch of the Standard Club Offshore Advisory Committee (SCOAC). SCOAC aims to analyse offshore trends, assist the club in further understanding and disseminating industry best-practice and develop new strategies to


Europe to Build Ships of the Future

Photo: University of Limerick, Ireland.

 A new European research project seeks to revolutionize the shipbuilding sector by replacing steel with composite materials for the construction of more efficient large length ships.   FIBRESHIP is an ambitious project that will allow for the construction of light commercial vessels


Nautical Institute Rolls Out Ice Navigator Scheme

Logo Image: The Standard Club, Nautical Institute

 The Standard Club has advised its members that at the start of July the Nautical Institute launched its Ice Navigator Scheme. This scheme is designed to help meet the demand for properly trained officers with the skills and knowledge to handle a ship in ice.  


Partners to Establish Digital Platform to Create Future Ships

Photo: Rolls-Royce

Rolls-Royce, The Norwegian University of Technology Science (NTNU), research organization SINTEF Ocean and classification society DNV GL have signed a memorandum of understanding (MoU) with the aim of creating an open source digital platform for use in the development of new ships.  


Marine Environment Protection Committee Opens

Photo:  International Maritime Organization (IMO)

 A busy Marine Environment Protection Committee (MEPC 71) is now under way at  International Maritime Organization (IMO) Headquarters in London (3-7 July).    A key item on the agenda is the implementation of the Ballast Water Management (BWM) Convention


BWMC Amendments Good for Shipping, Environment - Liberia

Alfonso Castillero (Photo: Liberian International Ship &Corporate Registry)

The Liberian Maritime Administration has welcomed an agreement reached by the IMO Marine Environment Protection Committee (MEPC) on an implementation schedule for the Ballast Water Management Convention (BWMC) which broadly incorporates the terms of an amendment initially proposed by Liberia.


Huge Potential for LNG in Iberian Peninsula

Fernando Impuesto, CORE LNGas hive project coordinator from Enagas (Left) and Liv Hovem, Senior Vice President, DNV GL – Oil & Gas. Photo: DNV GL

 With the global fuel sulphur limit of 0.5% entering into force in 2020, the interest towards LNG as a marine fuel is increasing. One of the main obstacles to the accelerated uptake of LNG, however, is the uncertainty regarding future market volumes for LNG.   


European Shipowners Welcome IMO Meeting Outcome

Photo: European Community Shipowners’ Associations (ECSA)

 European Community Shipowners’ Associations (ECSA) representing the European shipowners believe that important progress was made last week at the International Maritime Organziation’s (IMO) Marine Environment Protection Committee (MEPC) meeting.  


India Organizes Workshop on Coastal Shipping and Inland Navigation

Photo: Kerala Shipping and Inland Navigation Corporation (KSINC)

 The Ministry of Shipping in India is organizing a workshop titled ‘Promoting Coastal Shipping and Inland Navigation in India’ in Bhubaneswar, Odisha state today.    This is the second in a series of workshops the Ministry plans to hold over the next 6-8 months to


IFC, Excelerate Secure Finance for Bangladesh First LNG Terminal

Photo: Excelerate Energy

 IFC, a member of the World Bank Group, and Excelerate Energy Bangladesh Limited (Excelerate) are co-developing the Moheshkhali Floating LNG project – Bangladesh's first liquefied natural gas (LNG) import terminal.    The project will be located offshore Moheshkhali island


CEJN to Host Energy Market-Hydraulics Symposium

CEJN, a producer of quick connect high-pressure hydraulics products, will host a complimentary informative, educational event focused on ultra high-pressure hydraulics and the energy market on August 23-24, 2017 in Houston.   CEJN said its safety-driven


Trump Administration Approves Eni Plan to Drill Offshore Alaska

Image of sea ice in the Beaufort Sea, acquired on 3 June 2017 by the Moderate Resolution Imaging Spectroradiometer (MODIS) instrument, on board the Aqua satellite. (Photo: NASA)

Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.  


New Tug Joins Harley Marine Fleet

(Photo: Caterpillar Marine)

Harley Marine Services has welcomed its newest vessel, Dr Hank Kaplan, to its Puget Sound fleet on June 22. The vessel has a length of 80', a beam of 36' and a depth of 13'7" and is equipped with two 3516C marine propulsion engines that deliver a combined 5,350 HP


India Government Sops for Ship-Repairing Facilities

Indian Prime Minister, Narendra Modi. Photo: PIB

 In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026.   






 
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