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MARITIME ASSOCIATES

Floating Production Systems: US$11+ Billion on Order

FPSO Mystras: Photo CCL 2

The floating production sector has been especially active over the past several months. Ten production floaters have been ordered since March, reports International Maritime Associates Inc. (IMA). Contracts include a  $3 billion FPSO for Nigeria (a record price for an FPSO), two $1.8 billion FPSOs for Brazil, a $1.8 billion FPSO for the UK, a $1.3 billion production barge for the Congo and a $1.0 billion FPSO for the Gulf of Mexico, 269 floating production units now in service or available – This figure is 22% greater than five years ago, almost 80% higher than ten years back. FPSOs account for 61% of the existing systems. The balance is comprised of production semis, tension leg platforms, production spars, production barges and floating regasification/storage units. Thirteen units (12 FPSOs, 1 Semi) are off field and available for reuse – resulting in an overall utilization rate of 95.2%. Another 93 floating storage/offloading units (without production capability) are in service. 72 production floaters are on order – Current order backlog consists of 40 FPSOs, 6 production semis, 5 TLPs, 4 spars, 1 barge, 4 FLNGs and 12 FSRUs. Delivery of the equipment will grow the production floater inventory by 27%. In the backlog are 46 units utilizing purpose- built hulls, 26 units based on converted tanker hulls and 1 unit being modified from an existing production semi Of the production floaters being built, 41 are owned by field operators


Happy Birthday to Us!

Greg  Trauthwein, Editor & Associate Publisher

This year Maritime Reporter & Engineering News celebrates its 75th Anniversary. Founded by  in 1939, the publication today reigns as the largest audited publication serving the global maritime industry, with a circulation of more than 35,000. While the publication, with its signature size and booming red logo, easily remains our most recognizable brand, unlike 1939 when it was the stand-alone information product of the company


Expo Attracts Top Officials

Top security and maritime officials from more than 22 countries will come together in New York next week to explore solutions for improving the security of international maritime trade in the United States and abroad. ”The Expo has become a truly global event, with speakers and exhibitors coming from all over the world,” said Michael Rosenberg, vice president, Security Division at E.J. Krause & Associates, the Expo organizer. “Maritime security is a crucial piece in the U.S


Seebald Wins Port Authority Bid for Security Officer Training

Buffalo, N.Y. – Seebald and Associates International announced that they have been awarded a two- year contract with the Port Authority of New York and New Jersey (PANYNJ) to provide Facility Security Officer (FSO) training to approximately 400 individuals throughout the Port of New York and New Jersey. All Facility Security Officers (FSO) and alternates for companies which own or operate a designated 105 facility are required by law to be trained in accordance with 33 CFR 105


SMART Institute Conference Focuses on Skilled Professionals

Colton Hendrick & Blake Snapp are back preparing for their next journey out on the waters as new maritime interns with Higman Marine Services

  After 20 days offshore, Colton Hendrick and Blake Snapp are back on land, preparing for their next journey out on the water as new maritime interns with Higman Marine Services. And they love it. "It can be tough work at times, but the beauty is seeing the sun rise and set each day," said Snapp. Plus, the money and job security are incentives as well. Both Snapp and Hendrick stand to earn approximately $100,000 by the fifth year of their first maritime job


WFW Advises Teekay on Major Financing Initiatives

LNG Ship Docked Watson Farley & Williams

International law firm Watson Farley & Williams LLP (“WFW”) advised long-standing client Teekay on the successful completion of financing initiatives for Teekay Corporation and Teekay Offshore Partners LLP (“TOO”). This included assisting TOO on US$400m of secured bank financing and the raising of US$200m in fresh equity capital along with the deferment of certain bond maturity dates, whilst parent company Teekay Corp completed US$350m of bank financing and


MarAd Appoints new Associate Administrator for National Security

The Maritime Administration (MarAd) has appointed Kevin M. Tokarski its new Associate Administrator for National Security.  In his new role as associate administrator, Tokarski will provide leadership and oversight to the Office of Emergency Preparedness, the Office of Sealift Support, the Office of Ship Disposal, and the Office of Ship Operations and its three divisions: Atlantic Operations, Gulf Operations and Pacific Operations. 


Somali Pirates Try to Seize Dutch Ship

According to a report from the Associated Press, Somali pirates armed with rocket-propelled grenades and automatic weapons attacked a Dutch-operated container ship off the coast of Tanzania but failed to hijack the vessel, a maritime official said Dec. 7. Eight pirates in two speedboats chased and opened fire at the ship about 520 miles east of Dar es Salaam in Tanzania, starting a fire on the vessel that was quickly doused by the crew


SHIPPINGInsight Conference Makes Debut in 2012

Press Release Logo.jpg

Charlottesville, Va.  –  A new maritime industry conference, scheduled for October, 2012, in Stamford, Conn., will provide a forum for discussion of fleet optimization and efficient ship operations, according to its organizers. The SHIPPINGInsight Fleet Optimization Conference is being co-produced by Soccoli Associates LLC, a maritime consultancy, and Rhodes Communications Inc., an international communications firm specializing in the maritime industry


Happy 50th Birthday, Greg Trauthwein

“Throwback Thursday” from the Maritime Reporter archives: Greg at the wheel on a sailing excursion off the coasts of Italy and France in August 2011

Greg Trauthwein, Editor and Associate Publisher, today celebrates his 50th birthday. Since first manning the editor’s desk at New Wave Media’s flagship publication Maritime Reporter & Engineering News in 1992, Greg has helped grow the publishing house’s offering of world leading b2b publications to four print titles and more than a dozen websites and e-news services collectively serving the commercial maritime, subsea industries and energy industries.


GE, Maersk Drilling Accelerate Digital Partnership

 The image shows Maersk Drilling’s rig Integrator. Photo Credit: Maersk Drilling

The 'digital revolution' continues in earnest in the maritime and offshore energy sectors, driven by new pilot programs with positive results such as GE (NYSE: GE) and Maersk Drilling, which announced this morning an extension of the scope of their digital partnership following the positive


GOGL Adds Dry Bulk Vessel

Golden Shui. File Photo: Golden Ocean Group Ltd

 Golden Ocean Group (GOGL) says that it has taken delivery of one dry bulk vessel, Q Deb.   "GOGL announced that it has entered into agreements to acquire 16 modern dry bulk vessels in an all-share transaction where the Company will issue in aggregate 17


VLCC Outlook Brightens Slightly

file Image: CREDIT EuroNav

Rate correction likely after low S-Oil charter drags market.   Freight rates for very large crude carriers (VLCCs) could see a small respite next week, building on the slight improvement seen in the last two days although sentiment is likely to remain pessimistic of any real recovery


Port Cooperation and Maritime Security in Belize

Photo: International Maritime Organization (IMO)

 Identifying and dealing with potential threats to port security operations was at the core of a three-day workshop in Belize City, Belize (18-20 July).    The event took a closer look at security needs and associated risks. Through interactive presentations and discussions


IMO Project Seeks Maritime Technology Participants

Image: International Maritime Organization (IMO)

 The GMN maritime technology project, run by International Maritime Organization (IMO) and funded by the European Union, has issued a call for expressions of interest from individuals within specified organizations to become members of the GMN Project’s Global Stakeholder Committee (GSC)


Austal Wins USD 584.2 million US Navy Contract

LCS Class. Photo: Austal

 Australian shipbuilder Austal has won a  $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported.  The contract includes associated LCS class services and related material and integrated data environment support


Denmark to Host European Maritime Day in 2024

Photo: Mads Claus Rasmussen, Danish Maritime Authority

 In 2024, Denmark will be hosting European Maritime Day with more than 1,000 participants. With its maritime surroundings, the city of Svendborg will be the setting of the conference, said a press release from Danish Maritime Authority.  


Caribbean Cooperation for Low-Carbon Shipping

Photo: International Maritime Organization (IMO)

 Work to promote energy-efficient shipping is underway at the newly-established Caribbean Maritime Technology Cooperation Centre (MTCC) with a conference at the Centre’s headquarters at the University of Trinidad and Tobago (27-28 June).   


Aspin Kemp, MAN Diesel & Turbo Finalize Partnership

Photo of Jason Aspin - AKA, Wayne Jones - MAN Diesel & Turbo and H. Wade MacLauchlan - Honorable Premier of Prince Edward Island courtesy of Brian Simpson/Gov of PEI. Photo of closing ceremony agenda courtesy of David Rashed.

Canadian engineering firm Aspin Kemp and Associates Inc. (AKA) and German based engine and turbomachinery market leader MAN Diesel & Turbo SE have finalized an agreement between the two companies whereby MAN Diesel & Turbo steps in as a 40 percent shareholder in AKA.  


DryShips VLGC Commences Time Charter

DryShips Inc., an owner of ocean going cargo vessels, announced that on June 29, 2017, its first very large gas carrier (VLGC) commenced its time charter on a fixed rate with five years firm duration to an oil major.   The charterer has options to extend the firm employment period by up to


WMU signs MoU with MLS, New Wave Media for Global Survey

(From Left) Associate Professor, Michael Manuel, WMU; Mr Greg Trauthwein, Vice-President, New Wave Media; Dr. Cleopatra Doumbia-Henry, President, WMU; Mr Murray Goldberg, CEO, Marine Learning Systems, President of WMU, Dr. Cleopatra Doumbia-Henry, the CEO of Marine Learning Systems, Mr Murray Goldberg, and the Vice-President of New Wave Media, Mr Greg Trauthwein, signed a Memorandum of Understanding (MoU) on 29 June at WMU in Malmö, Sweden. (Photo: WMU)

The MoU establishes a partnership between the three organizations to conduct recurring global surveys on seafarer training practices in industry and sets out the guiding principles and terms by which WMU, Marine Learning Systems and New Wave Media will conduct these surveys as well as publicize


Rickmers to Sell its Last 9 Vessels to Navios

File photo: Rickmers Maritime

 HSH syndicate, comprising HSH Nordbank and DBS Bank, has approved the sale of the remaining nine of 14 vessels of Singapore-based Rickmers Trust Management for some $54 million to Navios Partners Containers and Navios Partners Containers Finance.


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


A Maritime Security Strategy for Cameroon

Photo: International Maritime Organization (IMO)

 Work to assist the Government of Cameroon to develop a national maritime security strategy is underway in Yaoundé (5-14 July).    Senior Government officials from departments and agencies concerned with maritime matters are attending meetings with an IMO consultant with a


Next Gen Maritime Workers Visits IMO

Photo: International Maritime Organization (IMO)

 Students from the International Association of Maritime Universities (IAMU) visited International Maritime Organization (IMO) Headquarters for their student forum (11-12 July).  Its theme was that of IMO’s World Maritime Day - “Connecting Ships, Ports and People”






 
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