Marlink Gets OK to Acquire ITC Global from Panasonic
Maritime connectivity and IT solutions provider Marlink Group has obtained final regulatory approvals to acquire 100% of ITC Global from Panasonic. "The Marlink and ITC Global management teams are preparing for a swift closing of the transaction in the coming weeks, while remaining fully focused on providing best-in-class services to their customers across the world," Marlink said."Both the Federal Communications Commission (FCC) and the Committee on Foreign Investment in the United States (CFIUS) have given their approval to the deal.
China is Paying a High Price for Its Ban on Australian Coal
China is paying a high price for its unofficial ban on coal imports from Australia, with the cost of domestic and alternative foreign supplies rising for both thermal and coking grades of the fuel.China, the world’s biggest importer, producer and consumer of coal, has effectively ended imports from Australia, the biggest shipper of coking coal used to make steel and number two in thermal coal used to produce electricity, as part of an ongoing political dispute between the two nations.The restrictions on imports from Australia came into effect in the second half of last year…
More Than 65% of Ships Contain Asbestos
A significant number of existing and newbuild vessels are operating systems and machinery containing asbestos despite regulations introduced 10 years prohibiting the use of the hazardous substance on board, according to maritime testing facility Maritec.Maritec, which carried out asbestos surveys for IMO compliance between 2011 and 2020, said more than 55% of in-service vessels and 50% of all newbuilds were found to contain asbestos materials.John Rendi, General Manager, Environmental Services…
Coatings Giant Hempel Buys Wattyl Australia and New Zealand
Coatings manufacturer Hempel has completed the acquisition of Wattyl Australia and New Zealand, increasing its footprint in Australia and New Zealand.On 18 February 2021, Hempel A/S signed an agreement to acquire leading paint and coatings manufacturer Wattyl Australia and New Zealand from The Sherwin-Williams Company, the world’s largest paint and coatings company and headquartered in the United States.Hempel received formal customary approval from the relevant authorities in Australia and New Zealand and the acquisition was closed on 31 March.
More Stormy Seas Ahead for the Cruise Sector
The cruise industry has weathered many storms, including fairly regular brushes with disease. Outbreaks of norovirus, H1N1 and measles have all happened in the not too distant past. Despite this, a cruise has traditionally been regarded as a safe holiday—the kind where you don’t have to worry about a thing.COVID-19 has changed this. Cruise ships were a hotbed of transmission during the early stages of the pandemic, particularly the Diamond Princess, which was quarantined for six weeks in Japan in spring 2020.
Global Reinsurers Stare at Massive Losses from Suez Canal Blockage
The blocking of the Suez Canal by one of the world’s largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even as rescue teams were successful in partially refloating the vessel on Monday.The 400-metre (430-yard) long Ever Given got wedged diagonally across the canal in high winds early last Tuesday, blocking the path for hundreds of vessels waiting to transit the shortest shipping route between…
Australia's MMA Offshore Scores Offshore Wind Hat-trick in Taiwan
Australian offshore vessel operator MMA Offshore has secured three new contracts in the offshore wind market in Taiwan.The contracts are for the vessels MMA Pride, MMA Crystal, and MMA Responder."These three contracts, with firm periods totaling 270 days, increase the Company’s contracted revenue by an aggregate total of approximately A$7.0 million. These contracts also provide for an additional option period totaling 118 days," MMA Offshore said.The three MMA vessels will mobilize…
Svitzer Australia Adds Third New Tug
Svitzer Australia has taken delivery of its third and final new tug, Svitzer Wilu, welcomed to the Port of Geraldton on March 22, joining Svitzer North and Svitzer Abrolhos to form the new fleet.Designed by Robert Allan Ltd., the RAstar 3000-W series ASD tug Svitzer Wilu is 30 meters long, has 70 tonnes of bollard pull and increased safety capabilities with advanced firefighting capabilities on board.Main propulsion comprises of a pair of Caterpillar 3516C, IMO Tier II 2 certified diesel engines, each rated 2240 bkW at 1800 rpm, and driving a Schottel SRP 460FP Z-drive unit.
Santos, BW Offshore Sign $4,6B Barossa FPSO Deal
Australian oil and gas company Santos has signed a contract with FPSO supplier BW Offshore for the delivery of an FPSO for the Barossa gas field, located 300 kilometers offshore Darwin in Australia. The contract is subject to Final Investment Decision (FID) by Santos and its partners, with the FID expected in the coming weeks.The Lease and Operate contract has a firm period of 15 years, with 10 years of options. The firm period contract value is USD 4.6 billion. BW Offshore will be responsible for the engineering…
Australian Coal Exports Disrupted as Deluge Slows Port
Coal deliveries to Australia’s Port of Newcastle, the world’s biggest coal export port, have been halted because flooding in the Hunter Valley region has shut rail lines, with heavy rains also slowing ship movements at the port.Heavy rains along Australia’s east coast over several days have caused the worst flooding in half a century, with thousands of people being forced to evacuate their homes.
Australia Seizes Cocaine from Containership MSC Joana
Authorities have made a major drug bust from a containership bound for Australia.Earlier this month, Australian Federal Police (AFP) were tipped that the containership MSC Joanna allegedly contained a large quantity of cocaine on board, and authorities tracked the vessel as it made its way to Sydney.Through Maritime Border Command, ABF officers provided ongoing monitoring of the vessel, including planning the aerial and on-water response. Aerial surveillance observed a man launching a small vessel from Taren Point and meeting the MSC Joana off the coast of Sydney before sunrise on March 11.
Australia Gifts Newbuild Patrol Boat to Papua New Guinea
Shipbuilding group Austal announced it has has delivered the ninth Guardian-class Patrol Boat (GCPB) to the Australian Department of Defense. The vessel, the future HMPNGS Rochus Lokinap, was then gifted by the Australian Government to the Papua New Guinea Defense Force at a ceremony held at Austal Australia’s Henderson shipyard.The vessel is the second of four Guardian-class Patrol Boats to be delivered to Papua New Guinea under the Pacific Patrol Boat Replacement Project, part of the Australian Government’s Pacific Maritime Security Program…
China’s One-sided Recovery Drives Iron Ore Market Back Up -BIMCO
In the first two months of 2021, Brazilian iron ore exports have risen by 9.1% to 53 million tonnes, driven by China. So far this year, 35.2 million tonnes of iron ore has been exported to China, representing a 15.2% increase from the same period last year and standing in contrast to slightly declining exports to all other countries: down 1.2% to 17.8 million tonnes, continuing the trend from 2020.Despite the strong growth rates in the first months of this year, total exports of iron ore have failed to recover to 2019 levels following the 21.8% drop in volumes in 2020.
Panama Asks IMO for Help in China's Coal Carrier Dispute with Australia
Panama is urging the International Maritime Organization (IMO) to step in to help stranded seafarers and shipowners wrapped up in a trade dispute between China and Australia.Some 74 vessels loaded with Australian coal and more than 1,500 mariners are currently idled in Chinese ports and waters after Beijing last year placed an unofficial ban on imports from Australia, reportedly in retaliation for Canberra's call for an international probe of the origins of the coronavirus pandemic.
Port Hedland's Iron Ore Shipments to China Drop to Two-year Low
Benchmark Asian iron ore futures rose on Thursday as data showed monthly shipments of the steelmaking ingredient to China from Australia's Port Hedland dropped to the lowest in two years.Shipments from Port Hedland, the world's biggest iron ore export hub, totalled 30.73 million tonnes in February, when top steel producer China typically imports less due to the Lunar New Year holidays.That is the lowest since March 2019 and compares with 35.6 million tonnes in January and 33.3 million tonnes in February last year…
Woodside, Trafigura Load First Carbon Offset Condensate Cargo at Pluto LNG
Australian oil and gas firm Woodside and its Pluto LNG joint venture partners have delivered their first cargo of carbon offset condensate to commodity trading company Trafigura.The cargo was loaded at Pluto LNG plant in Western Australia, which processes gas from the offshore Pluto and Xena gas fields.The carbon dioxide equivalent emissions associated with extraction, storage and shipping of the 650,000- barrel cargo will be offset through a combination of efficiency measures, which reduce emissions, and surrender of high-quality carbon offsets, Woodside said.
Rolls-Royce's Power Systems Profitable Despite 17% Revenue Plunge
Rolls-Royce's Power Systems division has ended the 2020 financial year with an underlying operating profit of $247.3 million despite suffering a 17% drop in underlying revenue to $3.8 billion. This corresponds to an underlying operating margin of 6.5% (2019: 11.5%). As a result, Power Systems, with its product and solutions brand mtu, remained in the black during the 2020 pandemic year.Power Systems is taking advantage of the crisis to prepare for a shift in its business model…
AAL Expands Heavy Lift Fleet
AAL Shipping has acquired two secondhand multipurpose heavy lift vessels, expanding its core fleet to 720,200 total deadweight (DWT).The 2010-built Pacific Action and 2009-built AAL Gladstone have both served in the AAL fleet in the past and are due to rejoin later this month – the former renamed this week, AAL Gibraltar. The G-Class vessels feature a total cargo intake of 35,705 cubic meters, four large cargo holds, three tweendecks and a maximum lift capacity of 240 tonnes.
VARD Delivers Expedition Cruise Ship to Coral Expeditions
Ship designer and builder VARD said it has delivered a second expedition cruise vessel to Coral Expeditions of Australia.The newbuild, Coral Geographer, is ready to sail after arriving from Vard Vung Tau, VARD’s shipyard in Vietnam. Her maiden voyage with passengers will start from Cairns, Queensland, at the end of March.The vessel is the second VARD 6 01 ship ordered as part of Coral Expeditions' fleet expansion, following delivery of the sister ship Coral Adventurer in 2019.Developed by Vard Design in Norway in cooperation with the customer…
Bulk Carrier Caught Dumping Garbage in Great Barrier Reef
A shipping company and chief officer have been convicted in Australia for dumping garbage near the Great Barrier Reef, the world's largest coral reef system.Following a prosecution by the Australian Maritime Safety Authority (AMSA), on February 26, 2021, the chief officer and operator of Liberian-flagged bulk carrier Iron Gate were fined and convicted in the Brisbane Magistrates Court for dumping the equivalent of a 120-liter household garbage bin full of food waste into the Great Barrier Reef Marine Park…
Deployment of World's First Hydrogen Tanker Delayed
Kawasaki Heavy Industries Ltd expects shipment of its first cargo of liquefied hydrogen from Australia to Japan could be delayed until the summer due to the pandemic, a company spokesman said on Wednesday.A A$500 million ($391 million) pilot project, led by Kawasaki Heavy and backed by the Japanese and Australian governments, planned to ship its first cargo of hydrogen extracted from brown coal in Australia's Victoria state this month or spring.The shipment would be on the world's first dedicated hydrogen carrier…
Baltic Exchange Adds LNG Powered Seaborne Gas Assessments
A new set of independent indices for the liquified natural gas (LNG) seaborne trade went live this week (2 March), based on the carriers burning LNG, rather than marine fuel oil or marine gas oil, as their primary fuel.Published twice weekly, the new indices have been given the acronym (BLNGg) and will be published alongside the current LNG indices which are based on LNG carriers burning Very Low Sulphur Fuel Oil (VLSFO). Historical data for the new indices will be available dating…
Austal Philippines Delivers New Ferry to Fjord Line
Shipbuilding group Austal said its Austal Philippines arm has a 109-meter high-speed catamaran ferry to Fjord Line of Norway.The vehicle-passenger ferry, named FSTR, is said to be the largest aluminum vessel ever constructed in the Philippines. It is currently the largest ferry (by volume) to be constructed by Austal, at any of the company’s shipyards worldwide.Austal CEO, Paddy Gregg, said, “It’s impressive to see a large high speed ferry like this delivered in the best of times…