LNG is the Bridge to ‘Zero Emissions’ Shipping
The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now little more than one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America…
Offshore Wind Market in Aberdeen
The sight of offshore wind turbines off the coast of Aberdeen symbolises a change in direction for the city, its energy mix and its offshore industry, says a press release by UK Chamber of Shipping. Looking out to sea from Aberdeen, a gaggle of offshore wind turbines floats among the usual scattering of offshore support vessels waiting at anchor. Beside them waits an enormous wind turbine installation vessel (WTIV), recognisable by its four upright jack-up legs, which are raised above the water while the ship is not in service.
IMO GHG Strategy in Focus at European Parliament
Members of the European Parliament and other stakeholders have been briefed on the Initial International Maritime Organization (IMO) Strategy on Reduction of GHG emissions from ships, adopted in April, and the follow-up actions that may be taken to implement the initial strategy including consideration of candidate short term measures. IMO’s Edmund Hughes outlined the key elements of the initial strategy, which sets a clear commitment to a complete phase-out of GHG emissions from international shipping as soon as possible in this century…
Damen Shiprepair Dunkerque Completes Project
Damen Shiprepair Dunkerque (DSDu) has completed an eight-day refurbishment project for the 132-metre DP2, self-propelled, jack-up vessel Sea Installer. Operated by A2SEA, which was purchased in 2017 by DEME’s subsidiary GeoSea, Sea Installer was purpose-built in 2012 for installing the next generation of large wind turbines off the coast of Europe. The primary task was the fitting of new spud can shoes to the vessel’s four columnar legs. These massive pieces of steelwork, weighing 160 tonnes each…
Cudós Tapped to Lead Engineering and Construction for SENER
SENER appointed Jorge Sendagorta Cudós to be head of the Engineering and Construction area. He was, until now, the country manager of SENER in Mexico. SENER's Engineering and Construction area, which will be managed by Cudós, comprises three Business Units: Infrastructure and Transport; Renewables, Power, Oil & Gas; and Marine. It has branches in Algeria, Argentina, Brazil, Canada, Colombia, South Korea, Chile, China, United Arab Emirates, Spain, USA, Morocco, Mexico, Portugal, UK, and South Africa.Cudós joined SENER in October 2012 in the energy sector.
Total Acquires Direct Energie
Total and Direct Energie announce the completion of the acquisition today by Total of 73.04% of the share capital of Direct Energie, for 42 euros per share, representing approximately 1.4 billion euros. This acquisition, which is subsequent to the satisfaction of all conditions precedent referred to in the agreements executed on April 17, 2018 with Direct Energie’s main shareholders, was followed today by the filing by Total of a mandatory tender offer for the shares in Direct Energie which are not yet held by Total, at the same price of 42 euros per share.
Ocean Yield Invests in Four 3,800 TEU Container Vessels
Ocean Yield announced that it has agreed to acquire four 2014 built 3,800 TEU container vessels with 12-year bareboat charters to companies owned and guaranteed by CMB NV. The aggregate purchase price is approximately USD 120 million net of pre-paid charter-hire. The vessels are built in 2014 with a capacity of 3,800 TEU and are expected to be delivered to the Company during the early part of third quarter 2018. CMB will have certain options to acquire the vessels during the charter period, with the first purchase option exercisable after five years.
Gambian President Barrow Visits Antwerp Port
A collaboration agreement was signed on Thursday 24 May, in the port of Antwerp between on the one side Port of Antwerp International (PAI), the consultancy and investment subsidiary of Antwerp Port Authority, and APEC, its maritime training centre, and on the other Gambia Ports Authority which manages the port of Banjul in The Gambia. The collaboration, which will mainly take the form of training and consulting, underlines the leading role that the port of Antwerp plays in West Africa. As part of a visit to Belgium the delegation from The Gambia headed by H.E.
EU-backed Autonomous Shipping Project Moves Forward
Hull to Hull (H2H), an EU-funded research project established to develop technical solutions for safer navigation in close proximity of other stationary or moving vessels and objects, is in its Concept Definition phase and will move on to the Technology Adaption and Integrations Work Package (WP03) this summer.H2H was established in November 2017 to develop solutions using the European Global Navigation Satellite System (EGNSS), EGNOS and Galileo, that can enhance safety in busy waters and during close maneuvering…
GAC Greece Joins Green Award Foundation
GAC Greece has become the latest GAC company to sign up to the Green Award (GA) Foundation’s scheme, underlining its commitment to environmental issues. Under the scheme, GA-certified ships that use GAC's ship agency services at Greek ports can claim a 10% discount on the company’s agency fees. By joining the incentive scheme, GAC Greece demonstrated its commitment to applying and promoting measures to encourage green shipping. The Green Award Foundation is a non-profit, independent international platform for the maritime industry to stimulate safer…
Twin Disc Celebrates 100 Years
Marine power transmission and propulsion technology company Twin Disc is celebrating its 100th anniversary with a wide range of local, national and international events that kicked off in May and run throughout the year.Twin Disc began in Racine, Wisc., in 1918 with P.H. Batten's introduction of the twin disc farm tractor clutch. In the 1930s, the company entered the marine market, manufacturing countershaft reduction gears with 100 percent reverse power. During WWII, it converted all its operations to the production of essential war materials…
‘Cool Port’ Barge Service at Rotterdam
The logistics surrounding the Port of Rotterdam are daunting. Eight deep sea terminals; 600 barges with 150 different owners; some 150,000 shippers from across Belgium, the Netherlands and Germany all relying on the port. The result is a fragmented and complex area - which especially affects the delivery of fresh produce. Delivering fresh fruit, vegetables and other goods demands efficient, timely and reliable logistics chains. From the terminals to the importers' distribution centres to the local European consumers, clean lines of delivery are key.
Euronav Says 2017 Was a Challenging Year
2017 was a challenging year for th Belgium-based tanker owner Euronav NV from an operational perspective on account of challenging freight market driven by ship oversupply & OPEC restrictions, said Paddy Rodgers, CEO of Euronav. The concentrated delivery schedule of new tonnage coupled with restricted crude supply from extended OPEC production cuts maintained freight rates at low levels throughout the year. Despite these headwinds, demand for oil continued to remain robust and above long-term trend boosted by rising global economic growth and a supportive oil price structure.
Trump Tariffs: EU Seeks Permanent Exemption
European Union leaders called on Friday for a temporary exemption from U.S. import duties on steel and aluminium to be made permanent, saying they reserved the right to respond in an "in a proportionate manner" to protect the bloc's interests. The 40-day exemption granted by Washington was like U.S. President Donald Trump "putting a gun to our head", Belgium's prime minister complained. The EU's trade negotiator demanded that the United States drop "artificial deadlines". Trump said on Thursday he would suspend tariffs for the EU…
World Ports Sustainability Program Launched
Nearly 1,000 ports and port-related enterprises met in Antwerp, Belgium to sign the charter of the new World Ports Sustainability Program (WPSP). Earlier, more than 250 professionals from ports, shipping, government and society gathered at the Port of Antwerp for the kick-off of the World Ports Sustainability Program (WPSP). Her Majesty Queen Mathilde of the Belgians opened the event with a keynote address in which she underlined the important role that ports play in achieving the Sustainable Development Goals of the United Nations, which are at the core of WPSP.
COSCO Shipping Ports More than Doubled Profit in 2017
Hong Kong-based port operator COSCO Shipping Ports said that it 2017 profits have more than doubled from a year earlier, partly due to a one-off disposal gain and higher operating profits. The subsidiary and listed company of China COSCO owned by COSCO Group said that its profit reached USD 512.4 million in 2017, representing an increase of 107.4 pct compared with 2016 when the profit stood at USD 247 million. The firm's full year revenue rose 14% to US$634.7 million. Benefitting from the economic recovery and with growth fueled by its acquisitions…
Plibrico, NMBS Partner for Cruise Ship Repair
Plibrico, an industry leader in monolithic refractories, and maritime repair specialist Nordic Made Boiler Services, Inc. (NMBS), announced a global strategic partnership to deliver retrofit supplies and services to the world's cruise ship operators. With the partnership, NMBS will use Plibrico's Plico brand refractories in the retrofitting of cruise ship boilers and waste incinerators needed to ensure passenger safety and comfort. "Partnering with Nordic Made Boiler Services…
By the Numbers: Barge Transportation Market
Barge transportation comprises an extensive network, ideal for carrying seaborne cargo to inland destinations and exports alike. Responsible, in part, for the worldwide trade of bulk transport, the industry is of great significance to the agricultural sector. In North America, The Army Corps of Engineers maintains and operates over 12,000 miles of canals, rivers, and inland waterways. The Illinois Waterway and Mississippi River are the major waterways in the region that are responsible for moving agricultural and farm products through barges.
Clean Arctic Hails IMO Action on HFO
The Clean Arctic Alliance has applauded progress by International Maritime Organization member states towards banning use of the world’s dirtiest fuel – heavy fuel oil – from Arctic shipping. It also called for Member States to make every effort to adopt and rapidly implement a ban by 2021, as proposed by eight IMO Member States and supported by other countries during the meeting. Plans to develop a ban on heavy fuel oil (HFO) from Arctic shipping, along with an assessment of the impact of such a ban…
Euronav Secures Loan for Four Ice-class Suezmaxes
Tanker shipping company Euronav has secured a loan facility providing financing for four ice-class suezmax newbuildings under construction by Hyundai Samho Heavy Industries Co., Ltd., two of which have recently been delivered with the remaining two scheduled for delivery later in 2018.Watson Farley & Williams LLP (WFW) said it acted for Crédit Agricole Corporate & Investment Bank in relation to a $173.5 million loan facility for Euronav NV signed on March 22, 2018. The commercial lenders were Crédit Agricole Corporate & Investment Bank…
206 Ships Broken in 1Q: NGO Shipbreaking Platform
Of the 206 ships broken in the first quarter of 2018, 152 were sold to the beaches of South Asia, according to the NGO Shipbreaking Platform.Ship owners continue to sell their ships to the beaching yards despite documented hazardous and even deadly conditions as the prices offered for ships this first quarter have been high in South Asia, especially when compared to the figures of last year. While a South Asian beaching yard can pay about $450/LDT, Turkish and Chinese yards are respectively currently paying $280/LDT and $210/LDT.
LNG Tankers En Route to Britain, Belgium and the Netherlands
The following liquefied natural gas (LNG) tankers are expected to arrive in Britain, Belgium and the Netherlands in the coming weeks.The vessels carry gas to Europe's most active markets and include cargoes delivering on a spot basis and under long-term contracts.Estimated arrival dates, often revised by port authorities and AIS Live ship-tracking data on Reuters, are updated below.Some tankers heading for Belgium and Britain may be loading at the terminal.Those expected to load are indicated with an (L).
International Seaways Funds FSO Joint Ventures
International Seaways announced that its joint ventures with Euronav NV, which own the FSO Africa and FSO Asia floating storage and offloading service vessels, have closed on a $220 million credit facility. Based on INSW’s 50% ownership in the joint ventures, the Company has received $110 million in proceeds from the drawdown of the facility, which it expects to use for general corporate purposes, including to partially fund the previously announced VLCC acquisition. “With the $110 million term loan…