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Brexit Impact on Shipping and Sea Trade in UK

Image: Worldshipping.org

 Eversheds International says that UK trade would clearly be impacted by the Brexit vote.    "We saw an immediate effect on currency and share prices, although there are signs that the market is settling down after the initial post-vote furore," says a report by Eversheds.    In terms of longer term impact, there are some matters which are already tolerably clear, for example that any changes to the cost of trade with the EU are likely to affect freight volumes at British ports.    However, the precise nature and extent of the effect on UK trade will depend entirely on the form of relationship which is ultimately agreed both with the EU and with other trading partners. With the new British Prime Minister, Theresa May, looking to defer triggering Article 50 until 2017, that form of relationship remains pretty ‘uncertain’.   There are wider potential outcomes for shipping in the UK beyond the direct effect on trade volumes. In terms of the UK offshore industry, for example, Tradewinds reported recently that “when news of the UK’s decision to exit the EU hit the offshore sector, most analysts agreed that the longer-term damage for the sector would be from a possible slowdown in the world’s economy.    However, some warned the immediate and near-term effect would be that oil companies would obviously put the brakes on much-needed investment in the UK.   


MAN B&W Acquires Alstom Engines

Effective June 9, MAN B&W Diesel has acquired the Alstom Engines business, and effective immediately the Alstom Diesel engine business was renamed MAN B&W Diesel Ltd. with its headquarters in Stockport, Cheshire. Dr. Hans-J. Schulte, President of MAN B&W Diesel, stated: "We welcome the new British members of the MAN B&W Diesel team to the MAN family. We will strengthen their technical and brand identities, thus bringing a wider range of products into a wider range of markets and placing more


This Day in Naval History – September 7

1775 - The first prize, the British supply ship, Unity, was captured by the Continental schoonerHannah. 1776 - David Bushnell attempts to destroy a British Ship of the Line, HMS Asia, in New York harbor with his submarine Turtle. 1942 - First air evacuation of casualties to hospital ships off shore occurs at Guadalcanal. (Source: Navy News Service)  


New British Warship Exercises with US Carrier Group

HMS Daring & USS Carl Vinsion: Photo credit USN

Aircraft carrier USS Carl Vinson works with new HMS Daring to exercise air defence capability HMS Daring has been working with the USS Carl Vinson and her impressive air wing of fast jets to test Daring's Sampson radar and control system which allows multiple targets to be tracked over ranges of up to hundreds of miles. That information is fed to the Aster missiles in the silo on the ship's forecastle. With the  long-range radar, Daring can track many thousands of air contacts


Avon Inflatables to Promote U.K. Marine Industry

Avon Inflatables, a U.K. RIB manufacturer, will be representing the UK Marine Industry on a combined outward Trade Mission to Australia and New Zealand this August. The event, organized by Trade Partnerships U.K. in association with the British Marine Federation, will see a number of U.K. marine companies visiting the two countries with the aim of raising the profile of the U.K. industry. During the mission, the group will be attending The Sydney Boat Show,


B.C. Seeks End to Offshore Drilling Ban

British Columbia's government is pushing to end a nearly four-decades-old ban on offshore oil and natural gas drilling to encourage exploration, Bloomberg reported. Fields off Canada's westernmost province's shores hold as much as 10 billion barrels of oil and 40 trillion cubic feet of natural gas, according to government estimates. It could be the biggest offshore reserves for any province based on these estimates, topping Newfoundland on the east coast


P&O Plans To Tackle German Cruise Market

British shipping group P&O plans to start taking Germans on cruise holidays, citing that market as underdeveloped and with huge growth potential. The company is investing an initial $80.6 million and taking a 51 percent stake in a joint venture cruise company to be formed with privately owned German group Arkona Touristik. The new company, Aida Cruises, will order two new ships to complement the 1,200 berth Aida. P&O has an option to take full control of the venture once the ships are


Greenpeace Wins Bid To Delay North Atlantic Exploration

Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental directive in allocating licenses. The government is considering an appeal against the judgment on the basis that it is not taking into account the Commission's Habitats Directive in issuing exploration licenses. A spokesman said the government had been planning to issue new licenses in its 19th round early in 2000


Seaspan to Build Another 10 Noncombat Vessels

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Diane Finley, Minister of Public Works and Government Services Canada, joined by James Moore, Minister of Industry and Regional Minister for British Columbia, announced that Seaspan’s Vancouver Shipyards will build an additional 10 Noncombat vessels for the Canadian Coast Guard. The new ships, confirmed during Minister Finley’s visit to the Shipyards, increase Seaspan’s noncombat build package to 17 ships from the seven originally announced on October 19, 2011


Europe Set for LNG Supply Surge

Europe is luring twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. In just a week, seven new LNG tankers embarked for Belgian, British and Dutch ports and six more may arrive in the next month, attracted by the widest and most consistent premium to Asian prices in at least five years, price data on Reuters Eikon shows.


With New Project, BP Breathes Life into North Sea

BP has started production at an oilfield in the North Sea after a $5.7 billion redevelopment, one of the largest such projects there in recent years that will breathe new life into the ageing offshore basin.   The Quad 204 project in the western Shetland region, also knows as Schiehallion


Martek Marine Hire Head of UAV Operations

Paul Forster. Photo: Martek Marine

 Martek Marine announced the official appointment of highly-acclaimed aviation expert Paul Forster as their Head of UAV Operations. Paul brings over 30 years’ unparalleled aviation experience to Martek, in both high-profile operational and leadership roles.  


UK Chamber of Shipping Lobbies for SMarT Plus

Image:  UK Chamber of Shipping

 The UK Chamber of Shipping has contacted over 800 parliamentary candidates from around the country, asking them to back its campaign for enhanced support for maritime training.   The proposal, called SMarT Plus, would see a doubling in government support to GBP 30 million a year


Idwal Marine Secures Ten Year Contract for Flag Services

Pic: Idwal Marine Services Limited

 Idwal Marine announced the signing of a new contract after tender process with the Isle of Man Ship Registry, for the provision of maritime support services, which has been inked for a 10 year term.   The Ship registry has developed a new General Inspection regime which is being


In Demand: Hoegh LNG’s Sveinung Stoehle

The business model: Hoegh LNG president and CEO, Sveinung Støhle. Photo: handout

Satisfied with the recent opening of a new floating LNG import terminal in Turkey plus contract successes in Africa and Asia, Hoegh LNG CEO and president, Sveinung Stoehle, cautiously lets us into his stylish Oslo offices for a bit of “disclosure”


Cox Powertrain to Preview CXO300 at Seawork

CXO300 development (Photo: Cox Powertrain)

British diesel engine innovator Cox Powertrain will release more information about the patented and unique technology that has been used in its new concept diesel outboard, the CXO300 at Seawork International in June, ahead of its 2018 launch.


Canada Rolls Out Oil Tanker Moratorium Act

Infographic: Transport Canada

 The transportation system is something Canadians rely on every day, from getting us to work, or bringing us the products we use in our homes.    The Government of Canada is working to ensure that goods are transported in a safe and responsible way while protecting our marine


Italian Submarine Romeo Romei Delivered

Photo: Fincantieri

The submarine Romeo Romei was delivered at Fincantieri’s shipyard of Muggiano, La Spezia. It is the last of the four U212A Todaro class twin units ordered from Fincantieri by the Naval Armament Unit – NAVARM for the Italian Navy.   


Canada to Ban Tankers off North British Columbia

© Max Lindenthaler / Adobe Stock

Canada's Liberal government has introduced legislation for a moratorium on oil tanker traffic along the northern coast of the British Columbia province, the country's transport department said on Friday, delivering on an election promise.  


Canada to Roll Out First Propane Export Terminal

Photo: Royal Vopak

 Royal Vopak and AltaGas have entered into a joint venture and will invest together in the development of the Ridley Island Propane Export Terminal (RIPET). RIPET is expected to be the first propane export facility off the west coast of Canada.  


EIA Release Short-Term Energy Outlook

© iQoncept / Adobe Stock

The U.S. Energy Information Administration released its Short-Term Energy Outlook. Select highlights include:   • North Sea Brent crude oil spot prices averaged $52 per barrel (b) in April, $1/b higher than the March average and the fifth consecutive month that Brent crude oil spot


Petronas Targets New Markets for LNG

Photo :Petronas

Malaysian oil company Petronas is looking to tap new markets to sell liquefied natural gas, including as fuel for ships, the head of its upstream operations told Reuters on Monday. State-owned Petroliam Nasional Berhad, known as Petronas, also sees significant growth potential for LNG in India


Is 'Seablindness' a Myth?

© Gerhard1302 / Adobe Stock

 UK politicians and the general public have demonstrated overwhelmingly that they recognize shipping as the biggest mover of the nation’s imports and exports, according to a new study commissioned by the UK Chamber of Shipping.  


Royal Caribbean Will Return to New Orleans

Vision of the Seas (Photo: Royal Caribbean International)

Royal Caribbean International announced it will return to New Orleans with a seasonal home-based cruise ship in late 2018. The 915-foot Vision of the Seas will sail seven-night itineraries to destinations across the Bahamas and Yucatan Peninsula from the Port of New Orleans’ Julia Street


Sovcomflot Launches LNG-Powered Ships

Photo: PAO Sovcomflot

Russia’s biggest tanker operator will launch four new vessels in 2018 that will run on liquefied natural gas (LNG), Bloomberg reported.   Sovcomflot’s Aframax ships, capable of carrying 600,000 barrels of oil through the Baltic Sea to the port of Rotterdam






 
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