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DONG Energy Narrows IPO Pricing Range

Photo: DONG Energy

Danish utility and offshore wind farm developer DONG Energy has narrowed the price target for the company's share sale in Copenhagen, cutting off the top end of range, one source with direct knowledge to the matter said.   The price range has been narrowed to 225 Danish crowns and 235 crowns ($34.39-$35.92) from an earlier target of 220-255 crowns.   "A message was sent to investors on Tuesday night that they are at risk of not getting any shares granted if they place orders in the low end of the new price range," the source said.   Shares in DONG Energy are set to trade on the bourse in Copenhagen on Thursday. The top of the range would value the company at 98.2 billion Danish crowns ($15 billion), potentially making it Europe's biggest initial public offering this year.   ($1 = 6.5421 Danish crowns) ($1 = 6.5428 Danish crowns) (Reporting by Ole Mikkelsen, editing by Jacob Gronholt-Pedersen and Louise Heavens)


Port Valdez and Valdez Narrows – security zones

The U.S. Coast Guard issued a temporary rule extending through October 31 its security zone encompassing the Trans-Alaska Pipeline (TAPS) Valdez Terminal Complex and TAPS tank vessels and a second security zone in the Valdez Narrows. Comments on this action should be submitted by June 30. 69 Fed. Reg. 28827 (May 19, 2004). The U.S. Coast Guard also issued a proposal to make these security zones permanent. Comments on this proposal should be submitted by July 30. 69 Fed. Reg. 28871 (HK Law)


Supertankers Pose No Danger to Bay of Fundy

Proponents of a controversial liquefied natural gas plant in Maine say a study ordered by the Canadian government has found there is no reason to ban supertankers from the Bay of Fundy, as Ottawa has threatened to do if the U.S. approves the project. Downeast LNG said the environmental study found there were no immediate risks of having LNG supertankers go through the Bay of Fundy, part of which is split by the New Brunswick-Maine border, to the proposed plant.


Alaskan Cruises a Success

Photo credit American Cruise LInes

American Cruise Lines’ first Alaskan cruises aboard 'American Spirit' applauded American Cruise Lines  announce that its inaugural season in Alaska aboard the American Spirit has begun, with its opening 11-night Seattle-to-Juneau cruise having just been successfully completed. Weekly roundtrip cruises from Juneau will now run through early September. Featuring a complimentary shore tour package and pre-cruise hotel stay


World Economy Poised for Faster Growth Says Oil Report

The prediction comes from NYC-based PIRA Energy Group in its latest 'Oil Market Recap', as follows: The world economy is set for faster growth now that it has achieved escape velocity. Current low oil inventories and stock declines are supporting strong prices. Key light product inventories are low, with distillate vulnerable to a spike with very cold weather. Brent-Dubai will be fairly wide in January and February before narrowing sharply in April


Russian Navy Blocks Channel Between Crimea, Russia

Reuters - Russian navy ships have blocked off the Kerch Strait which separates Ukraine's Crimea region and Russia, the Ukrainian border guard service said on Tuesday. The border guards have said that Russian servicemen are in control of the Crimean side of the narrow channel and that Russian armoured vehicles have been sighted on the Russian side. "The Kerch Strait is blocked by two Russian ships - from the north and from the south," Pavel Shishurin


Brisbane Marine Pilots Train at MSI-Newport

Stephen Cummings and David Harris of the Brisbane Marine Pilots attended an Emergency Shiphandling course conducted September 13-17, 2004, at MarineSafety International's simulator training complex in Newport, RI. Topics covered included ship maneuvering in narrow channels and docking operations in tight quarters under difficult circumstances of wind and current. The pilots were also able to practice procedures for employing escort tugs using a computer model of the port of Brisbane


Shell Employs Concordia P-MAX Tankers

Photo: Concordia Maritime

Concordia Maritime has signed an agreement with Shell Tankers Singapore Private Ltd. covering the employment of the P-MAX tankers Stena Penguin and Stena Progress. “Generally speaking, the product tanker market is developing well and in accordance with our planned fleet disposition. We are of course happy to have concluded this business,” said Kim Ullman, CEO of Concordia Maritime. The Stena Penguin (built in 2010) and the Stena Progress (built in 2009) are 2 of the ten


Two Rescued from Vessel Taking on Water

The crew of the U.S. Coast Guard Cutter Anacapa rescued two men from a vessel taking on water approximately one mile southwest of Petersburg, Alaska, Tuesday. A smallboat crew from the Anacapa took the 24-foot pleasure craft Deborah K under tow and safely transported its passengers to the port in Petersburg. Coast Guard command center watchstanders at Sector Juneau received a call from passengers aboard the Deborah K reporting they had struck a rock and were taking on water near Wrangell


Bosphorus Strait Closed after Vessel Allides with Villa

A cargo ship ran aground and smashed into a villa on Turkey's Bosphorus Strait on Tuesday, forcing maritime authorities to close the key waterway to transit traffic, shipping agency GAC said. The 105 metre Sierra Leone-flagged Majed & Randy had no pilot on board when it suffered a rudder malfunction before hitting the villa, located on the Asian side of the waterway near Istanbul's Fatih Sultan Mehmet Bridge, GAC said.


Grindrod Plans to Spin off Shipping Business

(Photo: Grindrod)

Grindrod, the South Africa-listed freight logistics and shipping services firm, is planning to separate and list its shipping business in order to unlock its value, the company said on Wednesday.   Grindrod, which also has a financial services business


Tanker Goes Aground Off Brooklyn

 Oil tanker Kamome Victoria that ran aground in a shipping channel between New York and New Jersey has been cleared to depart after it passed inspections, the U.S. Coast Guard said.   According to AP report, the product tanker was carrying 373,000 gallons (1


Subsea Construction Vessel Launched in Azerbaijan

Designed by Keppel Offshore & Marine and built by Baku Shipyard, the state-of-the-art subsea construction vessel, Khankendi, will install the biggest subsea production system in the Caspian Sea (Photo: Keppel)

The vessel was named Khankendi by the President of Azerbaijan, H.E. Ilham Aliyev, at a ceremony in Baku Shipyard and launched by the Shah Deniz consortium.   Baku Shipyard LLC, a joint venture between Keppel Offshore & Marine Ltd (Keppel O&M)


Hedge Funds Watch U.S. Refinery Restarts

File Image (CREDIT: AdobeStock / (c) Jason Lee)

Hedge funds are betting crude oil stocks will adjust quickly to the aftermath of Hurricanes Harvey and Irma but gasoline and distillate inventories may take more time to normalise.   Hedge funds and other money managers increased their combined net long position in the five major petroleum


Advanced Greases Can Handle Today’s Deck Equipment Challenges

Photo: Klüber Lubrication

Anchor winches, cranes, level winders and other equipment exposed to the elements on the deck of a vessel ay look good with a thick, consistent layer of grease, but appearances can be deceiving. In fact, several problems may be lurking below the surface of commonly used greases. For example:


IT Package Ordered for Australian Arctic Research Ship

Artist impression Antarctic Supply Research Vessel (ASRV) for the Australian Antarctic Division.  (Photo: Radio Holland)

Damen Schelde Naval Shipbuilding (DSNS, Vlissingen) has awarded Radio Holland a contract to supply the IT systems on board the state-of-the-art Antarctic Supply Research Vessel (ASRV) newbuild for the Australian Antarctic Division.   The 160m ASRV is a survey vessel which combines


Houston Pilots Train for Post-Panamax Vessels

Captain Arbogast, Houston Pilots, maneuvering a Z-Drive tug at MSRC (Photo: Pascal Rhéaume)

 Members of the Houston Pilots recently participated in two custom-built simulation courses vital to their Pilotage duties in the Houston Ship Channel and the Port of Houston, the largest landlocked Port in America. Each course was two days long


Helix Energy Cuts Q2 Loss

Photo: Helix Energy Solutions

 Oil service company Helix Energy Solutions has narrowed its loss in the second quarter of 2017 backed by increased activity of its well intervention business. Mainly North Sea operations helped narrow the firm’s losses.   The group


WFSA's Annual Ferry Design Competition Kicks Off

The winner of the 2017 WFSA contest, a ferry designed specifically for Bangkok (CREDIT: WFSA)

The WORLDWIDE FERRY SAFETY ASSOCIATION (WFSA) has announced that entries will be now accepted for its annual student competition for the design of a safe and affordable ferry.   The  upcoming  contest  is  focused  on  designing a  passenger ferry for


Hyundai Merchant in the Red in Q2

Photo: Hyundai Merchant Marine Co Ltd

 South Korea's Hyundai Merchant Marine (HMM) suffered an operating deficit of USD 112 million in the second quarter, the company said in a regulatory filing. The third quarter will bring much better results, says the carrier.   Yonhap News Agency said that the company attributed


Venezuela Ships More Oil to US in July vs June

Venezuela's PDVSA and its joint ventures last month shipped 638,325 barrels per day (bpd) of crude to the United States, a 30 percent increase over June due to larger sales of upgraded oil, according to Thomson Reuters trade flows data.  


Voith Completes First Major Marine Overhaul at New UK Facility

1)	A Voith technician dis-assembles the Voith Schneider Propeller (Photo: Voith)

Voith Turbo, a manufacturer of a wide range of products for the marine industry, said it has completed its first major refurbishment project in a brand new U.K. facility.   The complete overhaul of a 26-metric-ton Voith Schneider Propeller (VSP) has been carried out for Red Funnel


Colac Remembered

Imagery Scanned from Navy Historic Archive. Photo:  Royal Australian Navy

 Despite being in the thick of action on many occasions, Bathurst class corvette HMAS Colac ended the Second World War with only two members of her ship’s company killed and two wounded, another amazing ship and crew being remembered 75 years on.  


Great Lakes Shipyard Builds First Damen Stan Tug

Handover Ceremony Photo: Damen

The first of 10 Stan Tug 1907 ICE vessels has been delivered by Great Lakes Shipyard to its sister company The Great Lakes Towing Company, both based in Ohio, U.S. Named Cleveland, the vessel marks a milestone in a licencing program agreed between Damen Shipyards Group and Great Lakes Shipyard


First STM Ship Systems Installed

Displays on Stena Germanica outbound from Gothenburg show AIS targets of RS 1100 (portside) and RS Marta Collin (starboard). Left is the normal presentation, monitored route and the two AIS targets. Right includes STM-functions and two routes from the AIS targets. The STM ECDIS predict intersection points between ships route and CPA. (Image: STM)

 The STM Validation project has installed the first Sea Traffic Management (STM) compatible bridge systems, connecting ships with shore based services and actors. All available functions are said to be working flawlessly, including route optimization and synchronized port calls






 
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