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OCEAN FLEET

Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades. Golden Ocean, controlled by shipping tycoon John Fredriksen, said its made a net loss of $75.3 million in the first quarter, below expectations for a loss of $27 million, the result was weighed down by a $141 million impairment charge on its vessels. Excluding the impairments, the firm made an EBITDA loss of $3.6 million, not far from forecasts for a $1 million loss. Its shares were trading 3.13 percent lower at 32.84 Norwegian crowns at 0821 GMT. The dry bulk shipping market has suffered a deep downturn in recent months as China cut its first-quarter coal imports by 42 percent and markets expect its coal imports to stabilise at the reduced level. "The dry bulk market has remained weak so far in the second quarter; consequently the revenues of Golden Ocean are expected to remain low in the second quarter," the company said in a statement. The majority of Golden Ocean's fleet is exposed to the spot market or on time charter contracts linked to the spot market which means results will continue to correlate with spot rates. "The utilisation of the dry bulk fleet was hovering around 80 percent during the quarter and earnings were at levels not experienced since the mid 1980s," the company said.


Tank Barge Report

Currently, Marcon International, Inc., the ship sale & chartering firm, has 62 inland tank barges available for sale, down from 124 in June 1996. Most of these are typical U.S. inland river units of approximately 30 years of age (vs. an average active U.S. inland fleet age of 24 years). Marcon also has listed and available for sale a total of 41 ocean and coastwise barges compared with 50 in June 1996. Most of these are older single skin units.


Godby Shipping Rolls Out Wired Ocean Across Fleet

Wired Ocean, a solution to broadband internet at sea has been installed aboard the entire Godby Shipping fleet. The seven vessel installation of the unique system, which commenced in September 2007 was carried out by Telemar and completed when the final vessel in the fleet, Miranda, took delivery of the system in February 2008. Wired Ocean is a marine broadband system, designed to deliver shore to ship data via a vessel's satellite TV antenna


Tank Barge Report

Currently, Marcon International, Inc., the ship sale & chartering firm, has 62 inland tank barges available for sale, down from 124 in June 1996. Most of these are typical U.S. inland river units of approximately 30 years of age (vs. an average active U.S. inland fleet age of 24 years). Marcon also has listed and available for sale a total of 41 ocean and coastwise barges compared with 50 in June 1996. Most of these are older single skin units.


NOAA's 15-Year Plan to Invest in Ships

NOAA has completed a detailed plan to modernize its marine operations  by replacing nine research ships and refurbishing a tenth in the next  15 years. “Sea-going vessels are a key source of observational data used by NOAA  scientists. A modern, more capable fleet will ensure we can meet the  ever changing demands of the science community,” said retired Navy  Vice Admiral Conrad C. Lautenbacher, Jr., Ph.D., under secretary of 


Northern Fleet Adds Research Vessel

The newest research ship Amber was a part of the Northern Fleet

  The latest oceanographic research vessel "Yantar" has arrived at the base of the Northern Fleet in Murmansk region. This was announced by Head of Press Service of the Federation Council Vadim Serga. "The crew has completed the transition from the Atlantic Ocean to the Kola Bay" - quoted by TASS Sergey. In May of this year, "Amber" was raised by St. Andrew's flag. This was followed by testing of the equipment and facilities the ship in the deep


Ocean Safety to Supply Complete RNLI Liferaft Fleet

Back row from L-R: Shaun Botha, Commodity Buyer, RNLI; Allen Stevens, Senior Engineer, RNLI, Mandy Boughton, Business Development Manager, Ocean Safety; Front row from L-R David Brook, Director RNLI, Charlie Mill, MD, Ocean Safety

U.K. independent marine safety equipment supplier Ocean Safety was selected by the RNLI to carry out a wide reaching replacement program for all their current liferafts in an operation that will take up to three years. The Ocean Safety ISO liferaft will become the liferaft of choice on every RNLI all weather lifeboat, following a rigorous selection program in which Ocean Safety had to produce innovative solutions to the RNLI’s requirements to exceed their own high safety standards for


Golden Ocean and Knightsbridge Complete Merger

Image courtesy of Golden Ocean

  The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company, which will be called Golden Ocean Group Limited, will be one of the largest dry bulk shippers in the world, operating a fleet of 72 vessels, 34 of which are new buildings.      The merger was first announced in October and will allow John Fredriksen


Knightsbridge and Golden Ocean to Merge

Golden Ocean’s capesize bulker, Channel Navigator. Image courtesy Golden Ocean

  Knightsbridge Shipping Limited and Golden Ocean Group Limited have today entered into an agreement and plan of merger pursuant to which the two companies have agreed to merge, with Knightsbridge as the surviving legal entity. The Combined Company will be renamed Golden Ocean Group Limited upon completion of the merger. As a result of the expected merger, the Combined Company would become one of the world's leading dry bulk companies with a modern fleet of 72 vessels


Xantic To Offer Fleet 33, Fleet 55 Services Globally

Xantic has become the first company to announce the availability of the new Fleet 33 and Fleet 55 services. Last Friday a contract was signed with Nera for upgrades of both Xantic Land Earth StationsLES’s in Holland (Burum) and Australia (Perth). The services will be available early April and will be provided in the 4 Ocean regions. At the same time Xantic’s Fleet 77 service will be enhanced by the addition of a 9.6k fax channel.


How Deep is the Ocean?

Photo: International Maritime Organization (IMO)

 Hydrogaphy, the science of surveying and charting bodies of water, is essential to the safe, sustainable and cost-effective use of the world’s oceans.    This was International Maritime Organization (IMO) Secretary-General Kitack Lim’s message at the 1st Assembly of


MPA Honors Patrick Phoon

Patrick Phoon, Deputy Managing Director, Evergreen Shipping Agency (Singapore) Pte Ltd receiving the International Maritime Centre (Individual) Award from Mrs Josephine Teo. Photo: Maritime and Port Authority of Singapore

 Ocean transportation firm, “K” Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively.  


Shanghai Grapples with Traffic Congestion

File Image (CREDIT: AdobeStock / (c) zhu difeng)

The world's busiest container port, Yangshan in China's business hub of Shanghai, is battling severe congestion wrought by dense fog, higher-than-usual volumes and the aftermath of a shake-up in shipping alliances, ocean carriers and port officials say.  


NileDutch selects ClearMetal predictive platform

Photo: Nile Dutch

 Ocean Carrier Nile Dutch will use ClearMetal's machine-learning approach to fleet and container utilization improvement. ClearMetal is a predictive logistics company that uses AI and machine learning to unlock new efficiencies for global trade.   


Viking Ocean Cruises Extends Order at Fincantieri

Viking Ocean Cruises and Fincantieri signed a memorandum of agreement for the construction of two additional cruise ships, with an option for another two.   The new builds will be sister ships to the six already ordered and will enter Viking fleet in 2021 and 2022, respectively


Western Towboat Signs with MobileOps

Image: MobileOps Inc.

MobileOps, Inc., a Redmond, Washington software comapny that specializes in the design and development of maritime software applications (dispatch, safety, compliance, vessel maintenance, timecards, analytics) announced that it has signed a contract with Western Towboat Company of Seattle.


First Ocean Vessel of 2017 Arrives at Port of Indiana

Photo: Port of Indiana-Burns Harbor

The first ocean vessel of the year arrived at the Port of Indiana-Burns Harbor marking the official opening of the international shipping season. Port officials welcomed the 413-foot general cargo carrier BBC Mont Blanc and presented the captain with the Ports of Indiana Steel Stein.


‘Natural Gas Operating Fleet’ Concept Receives AiP

Sanjay Verma, Wärtsilä; Jim Smith, Lloyds Register; and Zhao Zhijian, CHI with the Natural Gas Operating Fleet concepts AiP Certification (Photo: Wärtsilä)

Wärtsilä and COSCO shipping Heavy Industry Co (CHI) have announced the joint development of a natural gas operating fleet concept, and this design has now obtained Lloyd's Register's (LR) Approval in Principle (AiP) certificate. The development project was carried out under the terms of


Sterett-Dewey Surface Action Group in Hawaii

Photo: United States Navy

 Ships and units from the Sterett-Dewey Surface Action Group (Sterett-Dewey SAG) arrived at Joint Base Pearl Harbor-Hickam, Hawaii, April 11, the first stop of the group's Western Pacific deployment.   The command staff of Destroyer Squadron (DESRON) 31 and the Arleigh Burke-class


DryShips Enters into Newcastlemax Contract

Pic: DryShips

 DryShips Inc has entered into a one year time charter with a major grain house for one of its 206,000 dwt Newcastlemax drybulk vessels for an expected duration of about one year.   The Company anticipates a total gross backlog of $7


Quality of Ocean Carriers “Poor to Average”

Image: Drewry Shipping Consultants Limited

 The service provided by container shipping lines is rated as poor to average and has deteriorated in the past year, according to a survey of exporters, importers and freight forwarders conducted jointly by Drewry and the European Shippers’ Council (ESC).  


Chief of the Indian Naval Staff visits Malaysia

File Photo when Sunil Lanba, AVSM took charge of Vice Admiral. Photo: Indian Navy

 Admiral Sunil Lanba, PVSM, AVSM, ADC, Chairman Chiefs of Staff Committee (COSC) and Chief of the Naval Staff (CNS), Indian Navy is on a goodwill visit to Malaysia from 11 to 15 April 2017.    The visit is intended to consolidate and enhance bilateral maritime relations between


Seaspan Commissions New Hybrid Ferries

Seaspan Ferries Corporation (SFC) has welcomed two new dual-fueled/hybrid liquefied natural gas (LNG), diesel and battery vessels to its fleet during a double commissioning ceremony held at its Tilbury Terminal in British Columbia on April 9.  


Carl Vinson Strike Group to Western Pacific

Photo: United States Navy

 Admiral Harry Harris, Commander, U.S. Pacific Command, has directed the Carl Vinson Strike Group to sail north and report on station in the Western Pacific Ocean after departing Singapore April 8.    Carl Vinson Strike Group


INS Shardul on Surveillance in South India Ocean

INS Shardul Entering Port Victoria  Photo: Indian Navy

 In keeping with India’s national objective of ensuring a secure and stable regional environment to allow unhindered economic and social development, not just in India, but also in the Indian Ocean Region, Indian Naval Ship Shardul is on a two month long deployment in the South Indian






 
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