Termination of Seadrill Unit's and Rosneft Deal Extended
North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement, reports Reuters. NADL will also be permitted to delay the construction, delivery, or shipyard stay of any of those rigs. Western sanctions levied against Russia for its actions in Crimea have raised concerns over the future of the $4.1 billion agreement and have already forces Rosneft to terminate several North Atlantic Drilling contracts. North Atlantic Drilling said in a statement, "Today, all parties have mutually agreed to extend the termination date ... whereby any party can terminate the framework agreement and/or any offshore drilling contracts at any time prior to May 31, 2017, at no cost." The two companies also agreed to renegotiate the terms following the collapse of rig rates caused by the 50% fall in the oil price since June 2014. Per the terms of the agreement, which in November was first delayed to May this year, North Atlantic Drilling would purchase roughly 150 land rigs from Rosneft. Rosneft, in turn, would acquire a stake of roughly 30% in North Atlantic Drilling. Seadrill, which now holds 71% of North Atlantic Drilling, would remain its majority shareholder.
Rosneft Cancels Rig Contract
Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular, have led the Russian oil group to cancel a North Atlantic Drilling vessel earlier this month and raised concerns whether a larger agreement would go through..
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
This Day in Naval History - Aug. 17
From the Navy News Service 1812 - Frigate President captures British schooner L'Adeline in North Atlantic. 1942 - Submarines USS Nautilus (SS 168) and USS Argonaut (SS 166) land 222 Marines on Makin Island, first amphibious attack made from submarines. 1959 - Adm. Arleigh Burke re-appointed as Chief of Naval Operations (CNO) for third two-year term, serving longest term as CNO. 1962 - Navy's first hydrofoil patrol craft, USS High Point (PCH 1) launched at Seattle, Wash.
Right Whale Ship Strike Reduction – ANPRM
The National Oceanic and Atmospheric Administration (NOAA) issued an advance notice of proposed rulemaking (ANPRM) discussing possible strategies to reduce mortalities to North Atlantic right whales as a result of vessel collisions. Strategies being considered include new operational measures (such as routing and speed restrictions), negotiation of a conservation agreement with Canada, and new education and outreach programs. Comments on the ANPRM should be submitted by August 2, 2004
KVH Expands mini-VSAT Broadband Network
Maritime VSAT provider adds more capacity on its satellite network to support customer demand in the North Atlantic, Hudson Bay, the North Sea, and the Mediterranean Sea KVH Industries, Inc. expanded the capacity of its mini-VSAT Broadband network with two upgrades recently, supporting growing customer demand for broadband at sea. One expansion added a new satellite beam that doubled the mini-VSAT Broadband network capacity in the North Atlantic Ocean region
Donjon-SMIT Provides Emergency Assistance
On Monday, January 18, 2010, Donjon-SMIT, LLC, an OPA-90 Alliance, was notified by QI Gallagher Marine Services that a vessel required emergency towing assistance. The Tavricheski Bridge, managed by UNICOM Ship Management, had broken a main engine camshaft and lost main propulsion 160 miles Southeast of Nantucket in the North Atlantic. The Tavricheski Bridge, a 50,300 GT tanker, was carrying 32,500 MTs of Naptha
Cruise Ship Follows in Titanic's Wake
Cruise ship 'Ballmoral' sails from Southampton for New York with remembrance service stopover at 'Titanic' resting place A cruise ship steamed out of the British city of Southampton Sunday to retrace the route taken by the legendary ill-fated ocean liner Titanic 100 years ago, reports VOA. Many of the passengers sailing to New York on the Balmoral are relatives of those who lost their lives when the Titanic hit an iceberg and sank in the North Atlantic on April 14, 1912.
Grand Banks Iceberg Warning System Activates for 2014
The U.S. Coast Guard International Ice Patrol (IIP) announce it is scheduled to take over responsibility Wednesday for issuing daily iceberg warnings for the North Atlantic Ocean marking the beginning of the 2014 Ice Season. In early February, the IIP will deploy the first ice reconnaissance detachment to Newfoundland, Canada to meet with Canadian partners and to conduct the initial aerial patrols of the season. Iceberg reconnaissance is conducted primarily with HC-130J aircraft from U
Eimskip Gets Finance Deal for New Container Vessels
Eimskip has secured 80% financing of the contract price of the vessels with a 15 year tenor in Euros taken upon delivery. The lender is the German bank KfW IPEX-Bank GmbH. The loan is secured by China Export & Credit Insurance Corporation (Sinosure). On 25 January, Eimskip signed a contract with China Shipbuilding Trading Company Limited and Guangzhou Wenchong Shipyard Co. Ltd. to build two 2,150 TEU container vessels
Wärtsilä to Power Two New Fishing Trawlers
Wärtsilä said it has been contracted to provide the engines and the complete propulsion package, including the propulsion control system for two new fishing trawlers being built for Murmansk, Russia based Nord Pilgrim Ltd. The ships are to be constructed at the PJSC Vyborg shipyard in Russia. The orders with Wärtsilä were booked in June, 2017. The 80-meter-long trawlers will be reinforced to Ice3 class
Baltic Index Surges on Strong Demand for Larger Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, notched its biggest one-day percentage gain in five months on Thursday, buoyed by soaring demand for larger vessels. The index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 42 points, or 4 percent, at 1,092 points – the highest since April 28. "We are seeing a seasonal uptick ..
Canada Orders Ships to Reduce Speed to Prevent Whale Deaths
Certain ships are being ordered to reduce speed because of the deaths of at least 10 North Atlantic right whales in Canada's Gulf of St Lawrence during the past two months, the government said on Friday. The deaths have made 2017 the deadliest year for the endangered marine mammal since scientists began tracking their numbers in the 1980s, researchers said. The ministries of transport and fisheries issued a temporary order for vessels 20 meters or longer to slow to a maximum
Baltic Index Hits Near 5-month High On Improving Vessel Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near 5-month high on Thursday, driven by stronger demand across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 46 points to 1,296 points, a level last touched on April 13. The 3.68 percent jump was its biggest in a single day since Aug. 11.
New Tug for Vane Brothers
Vane Brothers has taken delivery of the 3,000‐horsepower Fishing Creek, the 13th Maryland-built tugboat to join the Baltimore-based company’s expanding fleet in the last 10 years. Designed by Frank Basile, P.E., of Entech Designs, LLC, Fishing Creek is the latest of 20 Sassafras Class tugboats contracted through Chesapeake Shipbuilding of Salisbury, Md. Construction began in 2007 on the first-in‐series tugboat Sassafras, which, when delivered to Vane Brothers in 2008
Acquisition of Nor Lines Rejected
The Norwegian Competition Authority has today rejected Eimskip’s acquisition of the Norwegian shipping and logistics company Nor Lines AS. The result of this decision is that Eimskip is not allowed to acquire Nor Lines. The potential acquisition of Nor Lines was not taken into account in the EBITDA forecast for the year 2017, and therefore this decision has no effect on that forecast. Acquisition cost in year 2017 related to this project is estimated EUR 300
US Navy to Christen Submarine Indiana
The Navy will christen its newest Virginia-class fast attack submarine, the future USS Indiana (SSN 789), during an 11 a.m. EDT ceremony Saturday, April 29, at Huntington Ingalls Shipyard in Newport News, Virginia. Vice President Mike Pence, who previously served as the 50th governor of Indiana, will deliver the ceremony's principal address. Diane Donald, wife of retired Adm. Kirkland H. Donald, director of Naval Nuclear Propulsion from 2004 to 2012
New Tug, Barge Enter Service for Vane Brothers
Marine transportation provider Vane Brothers has added two newly constructed vessels to the company’s growing fleet: the 4,200-horsepower tugboat Philadelphia and the purpose-built asphalt barge Double Skin 510A. Primarily tasked with towing petroleum barges engaged in the North Atlantic coastwise trade, the Philadelphia is the fifth of eight 4,200-horsepower, model bow tugboats contracted by Vane Brothers through St. Johns Ship Building in Palatka, Fla
The Icebergs Are Coming: Shipping in the North Atlantic
At present, several icebergs are drifting out of the Arctic Ocean and into the North Atlantic. This natural phenomenon occurs each year in the period roughly stretching between April and August. During this season, these massive chunks of ice cross the major shipping routes on the North Atlantic. But German container carrier Hapag-Lloyd is prepared for them, as the company’s captains keep their vessels south of the drift ice limit so as to avoid any dangerous collisions.
ABB Opens Two-stage Turbocharging to a Wider Market
ABB Turbocharging will launch in mid-2017 a new frame size for its two-stage turbocharging solution, Power2 800-M, extending the benefits of high pressure ratios, increased turbocharging efficiency and fuel savings to a wider scope of medium-speed engine configurations, the manufacturer said. The new frame size, Power2 845-M, applicable to an increased range of ship propulsion solutions, will open up the efficiency and operational benefits to a greater spectrum of vessel types
Baltic Index Falls to Lowest Since Early March
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Thursday fell to its lowest since early March as demand slowed across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1.71 percent, at 918 points. The capesize index lost 59 points, or 3.57 percent, at 1,595 points.
Faroe Islands Looks to Restart Hunt for Oil and Gas
Oil companies are interested in restarting the hunt for oil and gas in the scarcely explored seas off the Faroe Islands neighbouring the more mature UK North Sea, the head of the Faroese Geological Survey said. No economically viable discoveries have been made on the Faroese shelf but the tiny nation hopes to entice energy firms to restart exploration as it shows them new geological data in London on Wednesday.
Vane Brothers’ New Tug Christened
The newest Vane Brothers tugboat, the New York, was christened during a brief ceremony June 12 at St. Johns Ship Building in Palatka, Fla The New York is the sixth of eight 4,200-horsepower, model-bow tugs contracted through St. Johns by Vane Brothers. Headquartered in Baltimore, Vane Brothers also conducts operations from a facility in Brooklyn and other locations along the U.S. East Coast. More than 50 Vane Brothers tugboats are primarily tasked with towing petroleum barges
Canada Orders Seizure of Oil Tanker
The Federal Court of Canada has ordered the seizure of a 721,915-barrel cargo of crude from Kurdistan aboard the "Neverland" oil tanker on the request of the Iraq Oil Ministry, court documents show. The Iraq Oil Ministry has also filed a claim against commodity trading house Vitol S.A. and subsidiaries including Mansel Ltd, the charterer of the ship, and affiliate Finaval SpA di Navigazione, the owner of the ship, for $32.5 million.
Baltic Index Rises on Improved Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the second straight day on Tuesday, supported by higher demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points, or 2.01 percent, at 965 points. The capesize index gained 106 points, or 8.65 percent, to 1,331 points.