Marine Link
Wednesday, January 17, 2018

Five Year News

Great Lakes Limestone Trade Up in 2017

© Adam / Adobe Stock

Shipments of limestone on the Great Lakes totaled 28 million tons in 2017, an increase of 6.4 percent compared to 2016, the Lake Carriers’ Association (LCA) reported. 2017’s loadings were also 2.1 percent above the trade’s five-year average. LCA said loadings from U.S. quarries inched passed their five-year average, totaling 23.2 million tons, an increase of 8.4 percent compared to 2016.   Meanwhile, shipments from Canadian quarries totaled 4.85 million tons, a decrease of 2.1 percent from 2016, but 10.4 percent better than their five-year average.

TEN Sells, Leaseback Two Suezmax Tankers

Image: Tsakos Energy Navigation

Greece-based Tsakos Energy Navigation (TEN)  has announced that it has sold for $65.2 million gross, through a five-year sale and leaseback transaction, the 2005-built Suezmax tankers Eurochampion 2004 and Euronike. The sale proceeds have been used to reduce debt and add $16.0 million of cash to TEN’s balance sheet. The vessels were delivered to their new owners in late December 2017. “Following the 15-vessel renewal program that was completed last quarter, the sale and purchase of vessels remains an integral part of TEN’s strategy to maintain its owned fleet modernity and enhance liquidity…

After Florida, more States Press US for Offshore Drilling Exemptions

© Steven Frame / Adobe Stock

Governors and other officials from several U.S. coastal states ramped up pressure on the Trump administration on Wednesday to exempt their waters from an offshore drilling plan, hours after the Interior Department granted Florida's request to opt out. The backlash could complicate President Donald Trump's efforts to expand oil and gas production offshore. A proposed leasing plan unveiled last week aims to open up all U.S. coasts to drillers over the next five years. Alaska and Maine are the only two U.S. states whose governors have expressed support for the plan.

World Seaborne Coal Trade Up in 2017

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

World coal seaborne trade increased by 1.5 percent last year due to a recovery in output in producer countries such as the United States, Russia and China and an accompanying rise in export activity, German coal importers lobby VDKI said on Friday. Looking ahead, Wodopia said that, price-wise, China remains in the driving seat as the size of its domestic production determines how much landed coal the country needs to import. "So far, persistent demand in Southeast Asia continues to offset declining tendencies in the Atlantic and supports coal prices," Wodopia said.

Capital Product Partners Buys Aframax

Photo: Capital Product Partners L.P.

Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading. The M/T ‘Aristaios' is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro') at a gross daily rate of $26,400. The Tesoro charter commenced in January 2017 with duration of five years +/- 45 days.

Port of Rotterdam: 2017 in Review

Photo: Kees Torn, Port of Rotterdam

Over the past year, 29,646 seagoing vessels entered the port of Rotterdam, up more than 600 from 2016's 29,022. The number of incidents in the port fell from 159 to 129, and included one ‘serious accident’ involving an inland vessel that went adrift after hitting a groyne with its rudder. According to National Harbour Master René de Vries, the decrease in the number of minor incidents can be explained by the Port Authority’s investments in infrastructure in recent years: “Thanks to the new buoy configurations and dolphins…

Marine Accident Trend Downward in Canada

In all, 322 total marine accidents (Shipping accidents and Accidents aboard ship) were reported to the TSB in 2011, a 9% decrease from the 2010 total of 354 and a 23% decrease from the 2006–2010 average of 420. Twenty-two vessels were reported lost in 2011, down from the 2010 total of 27 and down from the five–year average of 31. Marine fatalities totaled 15 in 2011, down from the 2010 total of 18 and down from the five-year average of 19. Fatalities occurring during commercial fishing activity totaled 10 in 2011, unchanged from 2010, and down from the five–year average of 11. All fatalities involving fishing vessels totaled 12 in 2011, down from 11 in 2010, and down from the five–year average of 11.

Crowley Vessels Receive AMVER Awards

Crowley Maritime Corp. announced that 65 of its vessels were recently recognized for participation in the Automated Mutual-Assistance Vessel Rescue (AMVER) program, a computer-based voluntary global ship reporting system used worldwide by search and rescue authorities to arrange for assistance to persons in distress at sea. The awards were given during the U.S. Coast Guard’s NAMEPA Safety at Sea Seminar dinner, an event designed to bring industry and government leaders together each year in Washington D.C. All 65 Crowley vessels were given a certificate of merit for participation, with eight company vessels receiving additional pennants for their continuous, long-term dedication to the program.

Lakes/Seaway Iron Ore Trade Dips 8.5% in 2015

Iron ore shipments on the Great Lakes and St. Lawrence Seaway totaled 54.4 million tons in 2015, a decrease of 8.5 percent compared to 2014, reported the Lake Carriers’ Association (LCA), who added shipments slipped 7.8 percent compared to the trade’s five-year average. Loadings at U.S. ports totaled 47.1 million tons, a decrease of 12.4 percent compared to 2014, and 10.3 percent off their five-year average; while loadings at Canadian Seaway ports totaled 7.3 million tons, an increase of 29.8 percent compared to 2014, and 11.6 percent ahead of their five-year average,  LCA said.

Stolt-Nielsen S.A. Announces Bond Issue

Stolt-Nielsen S.A. announced plans to issue new senior five-year unsecured bonds with a term from April 15, 2004 to April 15, 2009. The senior five-year bonds will have a fixed yearly coupon of 8.75%. The first tranche of the senior five-year bonds will be NOK 500-700 million, with a total borrowing limit of NOK 1 billion. The nominal value of the senior five-year bonds will be NOK 500,000. The purpose of the bond issue is to refinance part of the Company's current debt. The offering period for the bond issue is from March 26, 2004 to April 2, 2004.

Great Lakes Limestone & Coal Trade Up

Shipments of limestone on the Great Lakes totaled 3,461,606 net tons in September, an increase of 3.6 percent compared to August, and 16 percent better than a year ago. However, the trade was down 10.7% compared to the month’s 5-year average. Loadings at U.S. ports were up 342,000 tons compared to a year ago. Shipments from Canadian docks increase by 135,000 tons. Year-to-date the Lakes limestone trade stands at 20.5 million net tons, an increase of 25.2% compared to a year ago, but a decrease of 15% compared to the five-year average for the first three quarters. Loadings at U.S. ports are up 28 percent compared to a year ago. Shipments from Canadian docks are 15.4% ahead of last year’s pace.

Fairplay Research Report 5-Year Forcasts

The latest Shipbuilding Market Forecast, published by Lloyd’s Register - Fairplay Research, predicts continued modest-but-steady growth for the passenger ship sector over the next five years. The monthly research report provides detailed analysis and forecasts covering all sectors of the passenger ship market, including passenger and cargo ferries, cruise ships and large private yachts. “The projected falloff in newbuildings for passenger ships is relatively small compared to other sectors of the shipping industry,” observed Niklas Bengtsson, report co-author. “This is because the passenger ship sector largely escaped the ordering frenzy of the last few years. The largest sector in this group is ferries, with a total fleet size of 6,316 ships as of May 2009.

Weak but Steady Growth in Oil & Gas Tanker Fleet

The world fleet of oil, chemical and gas tankers is predicted to continue to grow over the next five years, although at a much more sluggish rate than the previous five years, according to a Shipbuilding Market Report issued this month by Lloyd’s Register - Fairplay (LR Fairplay). The oil tanker fleet, which currently stands at 7,516 ships, is expected to grow by 1.9 percent per year over the next five years in terms of the number of ships. Deadweight ton (dwt) capacity will rise by 5.7 percent annually over the same period, reflecting a movement toward larger ships. New shipbuilding orders for oil tankers will amount to 76 million dwt through the end of 2013, a 60 percent decrease from the shipbuilding binge of the last five years.

Aker Kvaerner Secures Framework Agreement with Shell

Aker Kvaerner has signed a five-year partnership agreement with Shell U.K. Limited and A/S Norske Shell ('Shell') covering the provision, installation, commissioning and life-of-field support of subsea control systems in the North Sea. The framework agreement is signed for an initial five year period, with five optional one-year extensions. It could be worth between GBP 20 and 30 million over the first five years. The contract encapsulates the two companies' solid working relationship, which has been running since the late 1970s. The deal brings Aker Kvaerner Subsea's controls delivery and service, including aftermarket services, into one contract arrangement to ensure maximum efficiency in supporting Shell's projects.

November Ore Shipments Up on Great Lakes

Iron ore shipments on the Great Lakes reached their highest level so far this year in November. The trade totaled 4.6 million net tons, an increase of 27 percent over the preceding month. The upturn reflects higher operating rates at the nation’s steel mills that, in turn, have required the sailing of some U.S.-Flag lakers that had been idled. The most recent reactivation was on November 25 when the American Republic returned to service. The vessel was designed specifically to shuttle iron ore on the twisting Cuyahoga River in Cleveland, Ohio. Comparisons with a year ago and the month’s five-year average illustrate the depth of this recession. November loadings were six percent off the pace of a year ago, and nearly 14 percent behind the month’s five-year average.

LOC Celebrates 25 Years in Singapore

Andrew Squire, LOC Group Chief Executive Officer.

Planning to Expand Further in the Region. London Offshore Consultants (LOC), one of the world’s leading independent marine and offshore industry consultancy firms, is set to expand its activities and office network in Asia Pacific, it announced. LOC provides a range of specialist consultancy services on planning, design and execution of high value, complex marine and energy based operations through to technical advice on major shipping casualties. Its customers include the world’s leading oil and gas majors…

Australian Port Industries Market Research Report

An updated IBISWorld market research report reveals opportunities for growth in Australian port trades. According to IBISWorld industry analyst Caroline Finch, “IBISWorld forecasts compound annual revenue growth of 2.3% over the five years through 2012-13”. In the current year, the industry is expected to grow 7.0% to reach $3.39 billion. The report indicates that atrong growth in the value of total merchandise trade has been the primary driver behind the Port Operators industry's solid performance over the past five years. The value of merchandise trade exports has grown faster than the value of merchandise trade imports because of high demand for commodity exports. As more cargo moved through Australia's ports, the industry gained more opportunities to charge for its port services.

Aker Kvaerner and Statoil Sign Agreement

Aker Kvaerner has signed a letter of intent with Statoil ASA to enter a five-year frame agreement for the delivery of subsea production systems and related operational services. The agreement will make Aker Kvaerner's subsea division a preferred supplier to deliver complete subsea solutions to Statoil's new field developments as well as additional equipment to new and existing fields. The frame agreement for aftermarket services is valid for new fields. The agreement for delivery of subsea production systems is awarded for a five year period with an optional period of two x two years. The contract for operational services will run for five years. The extent of the frame agreement is first and foremost to cover Statoil's needs on the Norwegian continental shelf.

Tanker Companies Mull Fleet Expansion

According to a Feb. 8 report from Bloomberg, Tanker companies including General Maritime Corp. and Tsakos Energy Navigation Ltd. may expand their fleets after the recession sent ship costs to five-year lows last year. Prices for five-year-old very-large crude carriers, or VLCCs, dropped to $77.1m on Dec. 14, the lowest level since March 2004, according to price assessments compiled by the London-based Baltic Exchange. (Source: Taiwan News)

FMC Technologies, BG Norge Agreement

FMC Technologies, Inc. (NYSE: FTI) announced that it has signed a multi-year frame agreement with BG Norge, a subsidiary of BG Group, to provide subsea systems for offshore projects. The five-year contract includes provisions for two additional five-year extensions. The agreement also includes an immediate call-off to perform a detailed engineering study related to equipment and services to support the Jordbaer field, located in the Norwegian North Sea.  

AUV Manufacturing a Growth Industry Says New Report

Strong revenue growth will continue over the next five years as AUV's (Autonomous Underwater Vehicle) are increasingly used in commercial scenarios predicts IBISWorld's market research. The Autonomous Underwater Vehicle (AUV) Manufacturing industry has generated robust growth over the past five years. From 2008 to 2013, industry revenue has posted double-digit gains, growing at an average annual rate of 13.8% to an estimated $156.9 million in revenue. The industry generates the majority of its revenue from military and security markets given that AUVs are used for surveillance, reconnaissance, mine countermeasures and anti-submarine warfare.

Stratos Wins Protest of Five-Year Contract

The U.S. Court of Federal Claims in Washington, D.C. has granted the Stratos protest of a five-year U.S. Navy SPAWAR (Space and Naval Warfare) Inmarsat lease contract award to Comsat. The court ruled the contract awarded this past June was legally invalid, and required the U.S. Navy to retender its request for proposal for the five-year $111.9 million contract. The Court directed the Navy to conclude the recompetition by January 28, 2000. Stratos won phase one of the SPAWAR contract in August of 1998, and provided full-time Inmarsat-B 64 Kbps service to all deployed vessels in support of the Chief of Naval Operations' Information Technology for the 21st Century (IT-21) Project through July, 1999. IT-21 provides for the rapid exchange of information between Naval as well as Joint forces.

Stratos Wins Protest of Five-Year Contract

The U.S. Court of Federal Claims in Washington, D.C. has granted the Stratos protest of a five-year U.S. Navy SPAWAR (Space and Naval Warfare) Inmarsat lease contract award to Comsat. The court ruled the contract awarded this past June was legally invalid, and required the U.S. Navy to retender its request for proposal for the five-year $111.9 million contract. The Court directed the Navy to conclude the recompetition by January 28, 2000. Stratos won phase one of the SPAWAR contract in August of 1998, and provided full-time Inmarsat-B 64 Kbps service to all deployed vessels in support of the Chief of Naval Operations' Information Technology for the 21st Century (IT-21) Project through July, 1999. IT-21 provides for the rapid exchange of information between Naval as well as Joint forces.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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