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SEA NOTE

Little Change in Overall Shipping Confidence

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Little change occurred in the latest monthly Stifel Logistics Confidence Index. Slipping only 0.1 points from 57 in March to 56.9 this month, the overall index did however favor improvements in the present situation increasing 1.6 points to 51.8. However, expectations for the next six months dimmed falling 1.8 points to 62 for April. The monthly airfreight data is such an example. For April, the present situation increased 0.5 points to 49 whereas expectations declined 2 points to 61.3. The present situation indicates a current market in contraction due to the index figure below the 50-level. However, compared to April 2013, the present situation has improved 7 points. By lane, all lanes except U.S. to Europe, are below the 50-level but compared to the same month in 2013, much improvement has been made. Europe to Asia has improved at 8.1 points higher than 2013 followed by U.S. to Europe up 7.1 points. In fact, for the current month, the U.S. to Europe lane climbed above the 50-level for the first time since the Stifel survey begun. The airfreight expected situation declined on all trade lanes except Europe to Asia which noted a 1.2 point increase to 62. Etihad Cargo, a division of Etihad Airways, has noted increases in this trade lane in particular. “We are seeing an adjustment of flows between European exports in China, for example


Bureau Veritas Polar Rules & Ice Guidance

International classification society Bureau Veritas has published new rules for Polar Class vessels and specific guidance on ice/structure interaction. The rules are aimed at speeding Arctic and Caspian Sea oil and gas development by facilitating the building of tank, cargo and offshore service vessels which can operate unsupported by icebreakers in very heavy ice. The guidance note aims to facilitate floating LNG and oil platform construction in high Arctic conditions.


Clean Ships: Knowledge is the Key

Photo courtesy of WSS

In the wake of new regulations, Wilhelmsen Ships Services (WSS) says bulk owners and operators must pay as much attention to the products used to clean their cargo holds as the holds themselves.   WSS is urging firms to heed details included in the revised MARPOL Annex V Resolution MEPC.201(62), relating to the International Convention for the Prevention of Pollution from Ships, which came into force on January 1, 2016.


Courageous Chinese Crew Wins Inmarsat-sponsored Award

A cargo vessel operated by China Navigation Company helped rescue 246 people & wins a Lloyd's List Global Award sponsored by Inmarsat. The Amver Assisted Rescue at Sea Award was presented by President of Inmarsat Maritime, Frank Coles, to Captain Vimar Vidanagamage, representing the China Navigation Company, at a ceremony in London on 26 September 2012. The Chinese ship MV Kwangtung, was diverted using the Amver system to save the lives of passengers from the ferry Rabaul Queen which


K-Sea Barge Strikes Object, Fuel Spills

AP reported that K-Sea Transportation Partners LP on Friday said one of its tank barges struck an underwater object in the middle of the night, taking in water and leaking unspecified amounts of fuel into the Gulf of Mexico. The company, which runs a fleet of about 100 oil tank barges and tug boats, said the tug boat master reported that the barge rammed an unidentified object in gulf waters. The company noted that it carries both protection and indemnity liability insurance


Hornbeck Offshore Exchange Offer

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced that it has successfully completed its offer to exchange $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs440543 AF 3 and U44070 AC 1), which were issued in a private placement and sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933, for an equal aggregate principal amount of its 8% Series B Senior Notes due 2017 (CUSIP 440543 AH 9)


Bureau Veritas Launches Wind Farm Service Ships Guidance

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International classification society Bureau Veritas has published guidance for designers and builders of Wind Farm Service Ships. Maxime Pachot, offshore service vessel manager at Bureau Veritas, says, “Although some of the existing Offshore Service Vessel fleet can perform the tasks necessary for developing and maintaining offshore wind farms, we see an increasing need for specialist craft. These will include specialised vessels for servicing offshore wind farms


Horizon Lines Completes Comprehensive Refinancing

New Capital Structure Provides Opportunity for Significant Deleveraging.   Horizon Lines, Inc. (NYSE: HRZ) today announced that it has completed a comprehensive refinancing of the company's entire capital structure.  The new capital structure addresses the company's financial needs by providing adequate liquidity to fund continuing operations and the ability to achieve substantial additional debt reduction


Weak Capesize Rates Depress Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels. The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped 12 points, or 1.36 percent, to 869 points. The capesize index fell 41 points, or 2.16 percent, to 1,860 points. Average daily earnings for capesize vessels, which typically transport 150


Balikatan to Focus on Maritime Security

Image by Exercise Balikatan Government Organization

 Officials from the Philippine and United States armed forces participating in this year's Balikatan exercises, the largest in 15 years,  insisted that the said activities will not zero in on possible response to the issue of the South China Sea.     A statement earlier released by the Armed Forces of the Philippines said the US is sending 6,656 troops to the country, more than double the approximately 2,500 American servicemen who joined last year’s exercise.


Baltic Index Down Again on Broad Weakness

File Image (CREDIT: AdobeStock / (c) lidia n neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday for a second straight day, on weaker rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax


Truman Completes Sea Trials

Photo: United States Navy

USS Harry S. Truman (CVN 75) returned July 25 to its homeport at Naval Station Norfolk for the first time in nearly a year, following the completion of sea trials.   "Sea trials is a five-day underway that pushes the limits of the ship; a true shakedown


Baltic Index Win Streak at 9 Straight Days

File Image (CREDIT: AdobeStock / Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the ninth straight session, on higher rates for capesize and smaller vessels.   The overall index, which factors in rates for capesize, panamax


Bourque Joins Sea Machines

(Photo: Sea Machines)

Following a recent capital investment and the growing global interest from the marine sector, Sea Machines Robotics said it has been expanding its crew and is poised for further growth, expecting to deliver first generation systems to marine customers this summer.  


Baltic Index Rises on Stronger Capesize Rates

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday supported by robust demand for capesize vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Baltic Index Advances on Firm Capesize Demand

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates for capesize and panamax vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


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


North Natuna Sea: Striking at China Claims

Indonesia renamed the northern reaches of its exclusive economic zone in the South China Sea as the North Natuna Sea on Friday, the latest act of resistance by Southeast Asian nations to China's territorial ambitions in the maritime region.


First Floating Mega Island Tested

MARINs Olaf Waals pictured with the scale model of a mega floating island in its Offshore Basin in a storm of waves, wind and currents. (Images: MARIN)

Floating ports and cities possible solutions to sea level rise and overcrowded cities    MARIN (Maritime Research Institute) tested an innovative concept for a floating mega island. The island comprises 87 large floating triangles that are flexibility connected to one another


Dakuku Calls for Marine Ecosystem Conservation

Director, Nigerian Institute for Oceanography and Marine Research, Dr. Parcy Obatola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, Norwegian Ambassador to Nigeria Jens-Petter Kjemprud and the representative of the Lagos state commissioner for Agriculture, Emmanuel Audu at the Regional Conference on Marine Safety and Fisheries Protection, in Lagos. (Photo: NIMASA)

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed the need for concerted and collaborative efforts of all stakeholders toward the conservation and sustainable use of ocean resources for the protection of the environment and


Grand Bahama Shipyard Appoints UK Representative

Carnival Glory (Photo: GBS)

Grand Bahama Shipyard and L&R Midland (UK) Ltd have signed an exclusive agency agreement covering the U.K. markets effective June 1, 2017.   Caribbean shipyard Grand Bahama Shipyard (GBS) has engaged L&R Midland (UK) as its representative in the U.K


Baltic Index Rises on Higher Rates across All Segments

© sergeevspb / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday, helped by higher rates across all vessel segments.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels


Weaker Capesize Rates Pull Baltic Index Down

© Hellen Sergeyeva / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday as rates for capesize vessels slid. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 7 points, or 0


Capesize Sector Drags Baltic Index Down Again

File Image (CREDIT: AdobeStock / (c) Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth straight session on Thursday, weighed down by lower rates for capesize vessels.   The overall index, which factors in rates for capesize, panamax


US Navy Maritime Drill with Vietnam

Photo: United States Navy

 The U.S. Navy began the 8th Annual Naval Engagement Activity (NEA) with the Vietnam People's Navy, July 5, with the arrival of USS Coronado (LCS 4) and USNS Salvor (T-ARS-52) at Cam Ranh International Port.    This five-day collaboration will focus on events and skills exchanges






 
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