Guthrie to Direct KVH Initiatives in Asia-Pacific Region
KVH Industries, Inc. announced that Mark Guthrie has been named KVH’s vice president for the Asia-Pacific region.Guthrie will oversee all KVH activities in this area, which is of vital importance in the mobile connectivity market. Mobile tech innovator KVH provides connectivity solutions for the maritime market, including global mini-VSAT Broadbands services used by thousands of vessels worldwide.Guthrie joined KVH in 2013, and has held a variety of roles, most recently serving as vice president for global channel management.
EU Ambassadors Visit Peru’s Largest Multipurpose Terminal
APM Terminals Callao hosted an EU delegation of ambassadors representing 12 EU member states. Led by the EU Ambassador in Peru, Diego Mellado, the visit was of special interest as annual trade between the EU and Peru is more than $10 billion, 60% of which are exports from Peru to the EU. The trade agreement between the EU and Peru celebrated its fifth anniversary this year- and this month, the Lima Chamber of Commerce and Peru Eurocámaras signed an agreement to centralize EU efforts to promote economic development and investment.
India's CEMS Establishes 24 labs for Skill Development in Maritime
The Centre of Excellence in Maritime & Shipbuilding (CEMS) in India, a well-funded start-up in skill development for maritime and shipbuilding sector, has announced setting up of 24 labs -6 in Mumbai and 18 in Vizag campus. It also shared the list of courses being offered. The labs being set up include Product Design & Validation, Advance Manufacturing, Hull Design, Automation, Welding Technology, Robotics, Virtual Reality, Advance Machine & Robotics, Electrical and several others.
IMO Rolls Out Ferry Safety Video
Overcrowding is dangerous. Listen to crew. Follow instructions. It could save your life. These simple but key messages to ferry passengers are included in a new one-minute animated International Maritime Organization (IMO) safety video, to be shown in ferry terminals across the Asia and Pacific region and on national TV channels. The video was commissioned following a series of IMO-sponsored regional discussion forums on ferry safety held in the Asia and Pacific region. Overloading…
Benchamas FSO: InterMoor Completes Work
InterMoor has completed work for the installation of the new Floating Storage and Offloading (FSO) facility Benchamas 2 (FSO Benchamas 2). Previously, the Benchamas Explorer FSO, owned and operated by Chevron, was installed in 1999 in Block B8/32 in the Gulf of Thailand. The FSO began initial production in 1999 and after operating the facility for almost 20 years, Chevron decided to replace the aging facility with the new FSO Benchamas 2. The new floating facility FSO Benchamas 2 was delivered by MISC Berhad…
China's Tariffs on US Oil Would Disrupt $1 Bln Monthly Business
China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.In an escalating spat over the United States' trade deficit with most of its major trading partners, including China, U.S. President Donald Trump said last week he was pushing ahead with hefty tariffs on $50 billion of Chinese imports, starting on July 6.China said Friday it would retaliate by slapping duties on several American commodities, including oil.Investors expect the spat to come at the expense of U.S.
Asian Shares, Oil Fall as US-China Trade Spat Escalates
Asian shares fell to a 2-1/2 week low on Monday after U.S. President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind.Fears of a global trade war added to pressure on oil prices, which extended Friday's big fall, while the dollar retreated from near 3-week highs against the safe haven yen.Spreadbetters suggested a subdued start for European shares, with FTSE futures off about 0.1 percent. U.S.
Maritime Cook Islands Highlights “Positive Progress” to Tokyo MOU White List
The Cook Islands flag, operated by ship registry Maritime Cook Islands (MCI), has shown positive flag state performance, as reported in the latest report on Port State Control in the Asia Pacific Region by Tokyo MOU. The data and figures were published in the new report on Port State Control in the Asia Pacific by Tokyo MOU. The Tokyo MOU is “one of the most active regional port State control (PSC) organisations in the world” and consists of 20 member authorities in the Asia-Pacific region.
China's Crude Oil Futures Boom Amid Looming Iran Sanctions
A U.S. decision to reimpose sanctions on Iran is supporting China's newly established crude oil futures, and may spur efforts to start trading oil in yuan rather than dollars, traders and analysts said.Since launching in March, Shanghai crude oil futures have seen a steady pick-up in daily trading, while open interest - the number of outstanding longer-term positions and a gauge of institutional interest - has also surged.Traded daily volumes hit a record 250,000 lots last Wednesday…
Partners Look to Tackle Risks of Autonomous Shipping
As industry efforts to make autonomous shipping a reality continue, Rolls-Royce and AXA Corporate Solutions have signed a letter of intent (LOI) to explore ways in which they can bring a new risk management offering to the marine market.The companies say they seek to utilize Rolls-Royce Ship Intelligence systems and equipment and AXA’s risk analytics capabilities to support current sailing and future vessels."Combining AXA’s Marine Underwriting expertise and Rolls-Royce Ship Intelligence will enable both companies to deliver higher customer value through continuous innovation…
INTTRA Adds Salam Pacific Indonesia Lines to its Carrier Network
INTTRA, the largest neutral network, software and information provider at the center of the ocean shipping industry, announced an expansion of its rapidly growing carrier network with the addition of Salam Pacific Indonesia Lines (SPIL), its first carrier in Indonesia. The addition of SPIL represents a trend by regional carriers who are joining INTTRA to gain a competitive advantage in their service regions. SPIL provides services to all Indonesian routes, with 32 offices strategically located across the Indonesian archipelago.
China Will Hit Back After New US Tariffs
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions "completely unacceptable".The foreign ministry described Washington's…
W&O Opens New Office in Singapore
W&O opened a new office in Singapore, signaling its expansion in the Asia Pacific region. The company said the move into Singapore is an important milestone in expanding the global support network for its customers, as it now has 18 branches and additional 5 distribution points, strategically located to support customers operating globally. “W&O has been exploring options to broaden our footprint into the Asia Pacific maritime industry, and as it is the world’s busiest transshipment port and the third largest by tonnage…
Semi-sub Rig Undergoes Long Distance Tow
Maersk Supply Service has completed the tow of a semi-submersible from Las Palmas to North-Western Australia. The tow was carried out by newbuild anchor handling tug supply vessel Maersk Master of the Starfish series, whose energy efficient design minimized fuel costs during transit.The first leg of the tow of the semi-submersible MODU rig was direct from Las Palmas to Cape Town. Maersk Master and the rig then rounded the Cape of Good Hope for a final port call in Port Louis,…
Oil Prices Dip as Markets Eye Potential Supply Increases
Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.Brent crude futures were down 26 cents, or 0.4 percent, at $75.07 a barrel at 0057 GMT.U.S. West Texas Intermediate (WTI) crude was down 27 cents, or 0.4 percent, at $70.74 a barrel.Supply outages in Libya and strike action in Norway and Iraq pushed oil prices higher late last week, although prices still ended down for a second straight week."Crude oil prices fell as fears of supply disruptions eased.
Aqualis Offshore Completes Jacket Installation in Bahrain
Aqualis Offshore has completed the jacket installation engineering of an 1800T steel jacket structure offshore Bahrain as part of the Bahrain LNG Import Terminal. Aqualis Offshore, part of Oslo-listed Aqualis ASA, delivered the project in cooperation with APMC, who were in charge of the transportation and installation contract on behalf of its EPC contractor client, GS E&C. Aqualis Offshore was contracted by GS E&C to provide loadout, transport and offshore installation of the jacket.
i-Tech Services Charter Pact with MMA Offshore
i-Tech Services, a Subsea 7 company, has signed a three-year charter agreement with MMA Offshore Limited as it looks to enhance its Life-of-Field (LoF) services and capabilities in the Asia Pacific region. The MMA Pinnacle, which will become the fifth vessel in i-Tech Services’ fleet, is a high specification vessel, designed and built to provide customers with a cost effective solution for offshore inspection, repair and maintenance (IRM) and light construction activities. The custom-built, remotely operated vehicle support vessel (ROVSV) is SPS compliant with accommodation for 100 people.
Uruguay Conducts Maritime Security Drills
Drills and exercises to test maritime security knowledge and update skills are under way during a national workshop in Montevideo, Uruguay (5 to 8 June). The National Workshop on International Ship and Port Facility Security (ISPS Code) Drills and Exercises has been designed to strengthen the technical capability of Designated Authority officials, port security officials and managers with respect to enhancing maritime security through the process of conducting drills and exercises in accordance with the ISPS Code and the relevant IMO guidance…
Baltic Exchange Launches Escrow Service for Vessel Sales
The Baltic Exchange announced it will launch an Escrow Service for its members to hold deposits for ship sale transactions.The paid-for service will be available from May 2018 for use in transactions where the buyer of the vessel is a Baltic Exchange member. The service will cost $5,000 per side and is likely to be extended to disputes related payments, the Baltic Exchange said.The Escrow Service will be run by the Baltic Exchange's Asia office in Singapore and will be subject to the Singapore Exchange's (SGX) compliance and money laundering procedures.
DP World Post 7.3% Volume Growth
Dubai state-owned port operator DP World Limited said it handled 17.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3 percent year-on-year on a reported basis, and 8.4 percent on a like-for-like basis."Following a strong year for the global container market in 2017 with peak levels since 2011, our portfolio has had an encouraging start to 2018 delivering ahead-of-market growth.
Taiwan: The Next Battleground for Offshore Wind
Taiwan is becoming the next battleground for the world's top offshore wind developers as they seek a foothold in Asia for a technology that has been expanding fast in Europe.Taiwan announced results on Monday of its first major offshore wind farm auction that aims to add 3.8 gigawatts (GW) of capacity to its existing network of just 8 megawatts (MW).The island's offshore wind market is expected to expand to 5.5 GW by 2025, and the government aims to invest $23 billion on onshore and offshore wind projects by 2025…
Polarcus Scores Two Seismic Survey Projects
Marine geophysical company Polarcus Limited announced it has secured two offshore seismic survey projects.The company said it has entered into a contract for a two-month broadband 3D marine seismic acquisition project in Australia that will commence immediately.Polarcus also received a letter of award for an XArray 3D marine seismic acquisition project in Asia Pacific. The two-month project is slated to begin immediately after the Australian project.“These awards in Asia Pacific provide important visibility, extending a regional campaign for Polarcus well into Q3 2018,” Polarcus said.
Under the Sea: A Roadmap for Renewable Energy
Thanks to increasing levels of debt financing for climate-aligned projects, wind-generated power has become one of the fastest-growing green industries. Jessica Williams, an Infrastructure Analyst at S&P Global Ratings, considers the submarine technologies that are making this progress possible.Renewable energy is making an increasing contribution to the electrical grid. By the end of 2016, “green energy” sources accounted for almost a quarter of the world’s electricity supply, according to REN21.