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HIGH HOPES

NSA: Cuts Coming for Offshore

The Norwegian Shipowners' Association (NSA) had high hopes of maintaining status quo while the White Paper on shipping policy was still pending. These hopes were not met in the Government's proposal for a National Budget, put forward last week, according to NSA. The net-wage scheme for ferries is to continue, but cuts are proposed for offshore vesssels. According to NSA, there are no proposals affecting the tax regime for shipowning companies or owners in the National Budget. NSA contends that Norway is still out of sync with the rest of Europe, and the maritime industry in Norway has growing expectations for this to be righted in the forthcoming White Paper, says Marianne Lie, Director General of The Norwegian Shipowners' Association. The Government announced a full evaluation of the tax system this fall. NSA calls on the Parliament to hold on to the agreement that was reached for the seafarers three months ago. It is clearly a need to determine a long-term policy for seafarers in connection with the ongoing development of a White Paper on shipping policy, which is due in the spring 2004, says Lie. In relation to economic support for using Norwegian seafarers, NSA was hoping the Government would continue supporting this in the Budget. However, according to NSA, the Government proposes to abolish the net wage system for seafarers on shuttle tankers and offshore vessels that was introduced on 1 July 2003, and instead introduce a 19 percent refund scheme


Israeli Shipping Data Firm to Enter Commodities Game

Analysts say intelligent analytics could give firm an edge. A young Israeli technology company believes the expertise it has built up in tracking ships for governments and security agencies could help it break into the much larger market for providing information on seaborne commodities. Windward, founded just over five years ago by two former Israeli navy officers, plans to launch a maritime information service later this year for banks, investors and trading houses


Jurong Shares Surge on Newbuilding Order

Jurong Shipyard shares reportedly surged more than eight percent, or Singapore $0.60, to a year high of S$8.10 morning on hopes that the yard had won a multi-million dollar new building order.


Hyundai Heavy Wins Record Orders in Feb.

Hyundai Heavy Industries has set a new record in the global shipbuilding history by winning $5.7b in orders in February, the highest figure ever for a single month. The Korean shipbuilding giant said Sunday that it won $5.7 billion in orders for 25 ships last month, including a $1.6 billion contract with the French energy corporation Total for a floating production, storage and offloading vessel (FPSO). The February orders also include a deal for a $660 million deep-sea oil and gas


Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come under pressure next week if charterers hold back cargoes, ship brokers said. "So far, I can't see too much cargo in the market. Charterers are hoping rates are going to drop again," said a Shanghai-based ship broker on Thursday. "Sentiment is not good," the broker added.


Expanded Suez Canal Opening to High Hopes, Some Doubts

Photo: Suez Canal Authority

Egypt will open an expansion to the Suez Canal to great fanfare on Thursday, the centrepiece of President Abdel Fattah al-Sisi's plans to revitalise the country's economy after years of damaging political turmoil.   Some analysts and economists say, however, that the mega-project may fail to meet the great expectations.   The Suez extension was announced by Sisi a year ago and billed as a major national accomplishment on a par with President Gamal Abdel Nasser's nationalisation


High-Tech Hull Coating Receives NYSERDA Funding

Greenfield Manufacturing Inc., a Saratoga Springs chemical manufacturing company, has received New York State Energy Research and Development Authority (NYSERDA) funding of $183,000 to help commercialize and deploy a high-tech hull coating that can improve boat engine efficiency by reducing friction.   HullSpeed High Performance Coatings, a division of Greenfield, produces eco-friendly alternatives to current marine paints and coatings that can be environmentally harmful


UK O&G to Address Decommissioning Issues

The UK oil and gas industry will be looking for a firm step towards resolving the fiscal uncertainty surrounding North Sea decommissioning when Chancellor George Osborne delivers his 2012 Budget on March 21, according to business advisory firm Deloitte. Over the next decade, the UK Continental Shelf (UKCS) can expect to see a number of fields and installations cease production and commence decommissioning, potentially leading to the loss of critical infrastructure.


Wave Power Generation – US Navy Hawaiian Project

Wave power site visited by NAVFAC: Photo credit USN

Navy eyes Kaneohe wave power testing expansion The Navy hopes to expand its testing for ocean wave energy power generation in Hawaii, having been testing an energy buoy in about 100 feet of water off Marine Corps Base Hawaii in Kaneohe Bay for about 10 years. The Navy now hopes to put two more buoys in water more than 200 feet deep, and the greater depth will allow it to test larger devices closer to the size it needed to generate energy for customers.


SIA to Honor Honeywell's Gordon Hope

Gordon Hope: Photo SIA

The Security Industry Association (SIA) says it has chosen Gordon Hope, general manager of Honeywell's AlarmNet communications network, as the 2014 recipient of the George R. Lippert Memorial Award. Hope, who celebrates 25 years with Honeywell this year, joined the company in 1989 when it was Ademco. He began in marketing, with responsibilities including the control panel family. Over time, he added responsibilities, ultimately becoming director of marketing and then vice president of


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


Cyprus to Establish Deputy Ministry of Shipping

Photo: Cyprus Shipping Chamber

 Cyprus Parliament has passed a bill establishing a shipping junior ministry, the Cyprus News Agency (CNA) reported quoting government sources.   The bill, tabled by the government, was approved unanimously, the agency reported, adding that two proposed amendments had been withdrawn


Odd Lundberg Chooses Rapp Marine Winches

The new Odd Lunberg is due for delivery in 2019. (Image: Odd Lunberg AS)

Rapp Marine said it has received a new order from Odd Lundberg As, marking the third generation of owners from the shipping company who have selected its deck machinery.   “This is the first time the shipping company has selected a high-tech electrical solution


UK Ship Register Modernization Begins

Photo: UK Chamber of Shipping

 The UK’s Maritime & Coastguard Agency (MCA) is modernising the way the UK Ship Register operates and a number of new initiatives are in the works that could help the red ensign become more commercial and internationally competitive, says a report from UK Chamber of Shipping.


LNG Marine Fuel Institute Launched in Canberra

ToPH CEO David Pentz and Mayor Camilo Blanco with Richard Sandover from Jackson McDonald and Mike Utsler, Chief Operating Officer for Woodside Energy. (Photo: Town of Port Hedland)

Port Hedland Mayor, Camilo Blanco, and the Town of Port Hedland’s CEO, David Pentz, attended the launch of the LNG Marine Fuel Institute at Parliament House, Canberra on Wednesday, June 21.   The Institute, which was opened by The Honorable Josh Frydenberg MP


Asia Tankers-VLCC Rates Flat as Old and New Ships Compete

File Image (CREDIT: AdobeStock / (c) Carabay)

MidEast-Asia rates likely to remain flat until August; paper derivative trades show no uptick until October.   Freight rates for very large crude carriers (VLCCs) are likely to remain flat next week, a situation that could well last until August, brokers said on Friday.  


Asia Demand for U.S., Atlantic Basin Crude Oil Jumps

The Port of Corpus Christi is now a major U.S. export gateway for crude oil. CREDIT: Port Corpus Christi

Japan refiners book US crude cargoes for Sept delivery.    Asian demand for crude oil from the Atlantic Basin and the Americas is set to rise as low prices drive Japanese and South Korean buyers to snap up cargoes to arrive ahead of peak winter consumption.  


US Oil Drillers Cut Rigs for First Week since January

© Stojanovic Milos / Adobe Stock

U.S. oil drillers cut rigs this week for the first time since January and the pace of additions slowed this quarter due to declines in crude prices despite an OPEC-led effort to cut production and end a multi-year supply glut.   Analysts, however


Maersk Expects Client Business Back to Normal by Monday

File photo: Maersk containerships at Pier 400 in Los Angeles (Photo: APM Terminals)

Danish shipping giant A.P. Moller-Maersk expects client-facing operations to return to normal by Monday and is resuming container deliveries at its major ports following a cyber attack on Tuesday.   'We expect that by Monday we'll be back to something that looks a lot more like a normalised


ClassNK and Green Award Strengthen Ties

Logo: ClassNK

ClassNK and Green Award announced that they would further broaden their cooperation to ensure safety and minimize negative effects of the shipping industry. ClassNK became a Green Award incentive provider.   ClassNK, a ship classification society


NordLB Drops Plans to Sell Shipping Loans to KKR

German lender NordLB has abandoned efforts to sell a 1.3 billion euro ($1.5 billion) portfolio of shipping loans to KKR, Handelsblatt reported on Monday, citing a spokesman for NordLB. NordLB had said in April it hoped to complete a deal by the end of June.


Digitisation is Priority for FEPORT

Photo: FEPORT

 FEPORT supports the approach of the Estonian presidency and believes that four priorities constitute a consistent strategy for Europe.   The four priorities are:  An open and innovative European Economy, A safe and secure Europe


Ban Heavy Fuel Oil in the Arctic: WWF-Canada

Cargo ship and icebergs, Illulissat, Greenland. Photo: Clive Tesar / WWF

 International Maritime Organization (IMO) has agreed to take steps that could lead to a phase-out of the use of heavy fuel oil (HFO) in Arctic shipping following an appeal from the Government of Canada, Indigenous participants and testimony from WWF-Canada.   


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.   


Rays of Hope Seen for German Marine Equipment Suppliers

© MicroStudio / Adobe Stock

Germany’s marine and offshore equipment suppliers will have to continue efforts this year to respond to the continuing weak demand from other countries and growing competition in global shipping markets, says German Engineering Federation (VDMA) who reported a decline in orders in the






 
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