Rolls-Royce & the Future Tech 'Reality'
Rolls-Royce. The words have been used by many to signify excellence – though not with the company’s permission, of course. Rolls-Royce Marine is taking a leading position in developing and introducing the systems and technologies needed for the running of a successful business in the maritime industry of the 21st century. At a company presentation held in London earlier this year, Mikael Mäkinen, President of Rolls-Royce Marine, outlined the company’s vision for the future and its strategies to put these new systems based on new technologies into place.
Dry Bulk, Tanker Newbuilds on the Rise -BIMCO
Tanker and dry bulk vessel newbuild contracts have been signed at an increasing pace so far in 2017, with newbuild activity for the first half of 2017 surpassing the same period last year by 20 percent. According to BIMCO, 5.9 million DWT was contracted in May 2017 and 3.1 million DWT so far in June 2017, which brings the total amount of newbuild orders up to 19.6 million DWT for 2017. So far for June 2017, 22 tankers have been contracted amounting to a total of 2.6 million DWT. For the crude oil tanker segment, this has been entirely for suezmax ships with 1.9 million DWT ordered.
HMS Queen Elizabeth Sets Sail on Maiden Voyage
Britain's most advanced and biggest warship, 65,000-tonne aircraft carrier HMS Queen Elizabeth, set out on its maiden voyage on Monday from the Rosyth dockyard in eastern Scotland. The ship, which measures 280 metres and can move 500 miles a day, took 11 tugs to manoeuvre out into the River Forth and then must wait for low tide so as to pass under the Forth's famous bridges - weather and systems checks permitting. It took eight years to build HMS Queen Elizabeth and along with its sister ship…
Woes Mount for ABG Shipyard
The Indian ministry of defence (MoD) has terminated the contracts with India's ABG Shipyard, which already was out of the race for $2.6-billion four Landing Platforms Docks (LPD). This comes as another serious setback to the Shipyard after it was listed as non-performing asset (NPA) accounts by the Reserve Bank of India (RBI) for fast resolution under the insolvency law. ABG Shipyard has failed the corporate debt restructuring (CDR) carried out by ICICI bank. The Financial Express reported that keeping in mind the poor financial health of the shipyard…
Hindustan Shipyard May Get $3.1bln Order
India's Hindustan Shipyard Limited (HSL) has received a proposal from United Shipbuilding Corporation of Russia for a strategic partnership, The Hindu reported. The report said that the Russian shipyard will be placing orders worth INR 200bln (USD 3.1bln) immediately. The move came up for discussion when Andhra Pradesh Economic Development Board CEO J. Krishna Kishore recently met HSL Chairman and Managing Director Rear Admiral L.V. Sarat Babu. HSL was brought under the control…
Shipping Industry Submits Ambitious CO2 Reduction
Four major international trade associations – BIMCO, INTERCARGO, International Chamber of Shipping (ICS) and INTERTANKO – have made a joint proposal to the IMO concerning ambitious CO2 reductions by the international shipping sector, which is responsible for transporting about 90% of global trade and 2.2% of the world’s annual man-made CO2 emissions. The IMO Marine Environment Protection Committee will meet in London this July to begin the development of a strategy for the reduction…
Navico Acquires Naviop
Marine electronics manufacturer Navico, parent company to the Lowrance, Simrad and B&G brands, announced it has finalized an agreement to acquire marine monitoring and control systems provider Naviop. Providing the integration framework to capture data from all boating systems, Naviop creates a digital ecosystem on boats outfitted with Simrad, Lowrance and B&G marine electronics, with the multifunction display serving as the hub for complete system control and information. “For years, auto manufacturers have provided consumers with a complete integration solution at their fingertips, and we, as a marine industry have fallen behind the curve to provide the same level of convenience and control,” said Leif Ottosson, Navico CEO.
Austal Wins USD 584.2 million US Navy Contract
Australian shipbuilder Austal has won a $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported. The contract includes associated LCS class services and related material and integrated data environment support, as well as options for the construction of additional LCS, class services and post-delivery availability support, the Pentagon said in a statement. Australian Associated Press added quoting Asutal that the 127-metre LCS28 will be built at its shipyard in Mobile…
Rotterdam Port Contracts Four PortXL Start-ups
The Port of Rotterdam Authority is entering into a partnership with four start-ups for the development of as many innovative projects. Along with six other starters, these companies took part in the port-related accelerator programme PortXL and presented their results during yesterday’s ‘Shakedown’. The ten selected start-ups made amazing progress in the three month long PortXL programme. In fact, nine of them saw their efforts rewarded with a contract with organisations such as Van Oord, Vopak, Boskalis, Alliander and Stena Line.
Korea Line Signs USD 1.15 bln LNG Shipping Deal from KOGAS
Korea Line Corporation (KLC) has secured a KRW 1.27 trillion (USD 1.1 billion) contract to transport liquefied natural gas (LNG) for its compatriot Korea Gas Corporation (KOGAS). Yonhap reported that under the deal with Korea Gas Corp. (KOGAS), Korea Line will transport LNG through May 30, 2037, the company said in a regulatory filing. Other details of the contract were not revealed. In 2013, Korea Line was taken over by SM Group, a midsized shipping group. Korea Line currently operates some 30 vessels…
UK Chamber of Shipping Survey on Election Results
A survey carried out by the UK Chamber of Shipping has found that a majority of its members believe that the general election result will damage the economy and hinder the Brexit negotiation process, and that a deal on transitional arrangements must be struck with the EU as the Article 50 process unfolds. The study, which was carried out among the UK's biggest shipping companies, found that 62.5% of the 107 respondents felt some level of concern over the effect that the June 8th general election will have on the economy, with nearly 9% describing themselves as "very concerned".
HII Hires Davis to Lead Cyber Security Program
Ron A. Davis has joined Huntington Ingalls Industries (HII) as chief information systems officer (CISO). In this new role, he will lead the company’s cyber security program with responsibility for ensuring the early identification of threats and risks and the implementation of controls and other processes and methods to protect information systems for the entire HII enterprise. Davis will work in HII’s Washington, D.C., office and will report to Chris Kastner, executive vice president, business management, and chief financial officer. “Cyber security is a top priority for HII,” Kastner said.
Fincantieri Marinette Marine Wins Industrial Security Award
U.S. shipbuilder Fincantieri Marinette Marine (FMM) informs it has received the 2017 Defense Security Service James S. Cogswell Outstanding Industrial Security Achievement Award. The Cogswell award, given by the Defense Security Service (DSS), a federal security agency of the U.S. Department of Defense, is awarded to less than 10 percent of more than 13,000 industrial firms annually. The criteria focuses on the principles of industrial security excellence, which includes establishing…
CMV's Columbus Prepped for Summer Cruising
Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion, said it has completed maintenance and repair works on the newest member of CMV’s fleet, the cruise ship Columbus. The full work scope was concluded within a tight timescale, thus ensuring that the vessel could sail to the London Cruise Terminal in Tilbury, U.K. in time for her naming ceremony and inaugural cruise. Several CMV vessels – the Astor, Marco Polo and the Magellan, for example – have made calls at various Damen repair yards in the past.
Hurricane Dora Forms Off Mexico's Pacific Coast
Hurricane Dora formed off the western coast of Mexico in the Pacific Ocean on Monday, but it was expected to slow and remain offshore, the U.S. National Hurricane Center (NHC) said. Dora, the first hurricane to form in the Pacific so far this year, was carrying maximum sustained winds of about 80 miles per hour (130 km per hour) as it whirled about 170 miles (275 km) south-southwest of the port of Manzanillo, the center said. Dora was slowing and was likely to see some strengthening on Monday before weakening on Tuesday, the NHC said.
Irish Navy Rescues 712 off Libya
An Irish naval ship rescued 712 people including pregnant women and infants off the coast of the Libyan capital of Tripoli as part of an international migrant rescue effort, Ireland's Defence Forces said on Monday. The LÉ Eithne ship led the rescue of multiple vessels in distress 40 kilometres north-west of Tripoli throughout Sunday. Six migrants, including one baby, were revived from states of unconsciousness. The ship will transport the people, including 14 pregnant women and four infants below the age of four months, to a designated "port of safety" to be handed over to Italian authorities. "I'm very proud to say all lives were saved, no lives were lost.
Frontline Alters Course, Drops DHT Pursuit
CEO: Frontline will continue to expand its fleet; won't pursue M&A now, though consolidation may come later. Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions, Frontline's CEO told Reuters on Monday. DHT last month rejected a fifth takeover proposal from billionaire shipping tycoon John Fredriksen's Frontline, calling the $500 million all-share bid "woefully inadequate". Frontline has now admitted defeat and switched course away from takeovers for the time being.
Lithuania Inks U.S. LNG Supply Deal
Lithuania's state-owned gas trader Lietuvos Duju Tiekimas (LDT) said on Monday it had signed a deal to buy liquefied natural gas (LNG) directly from the United States for the first time and expects to receive a delivery in the second half of August. The deal is with a unit of Cheniere Energy and is part Lithuania's efforts to diversify its gas suppliers and reduce its reliance on Russia's Gazprom. LDT, part of state-owned energy group Lietuvos Energija, signed a deal last year with Koch Supply & Trading for LNG supplies throughout 2017. Cheniere Energy was expected to supply LNG from a U.S.
Carl Vinson Carrier Strike Group Returns from WESTPAC
The aircraft carrier USS Carl Vinson (CVN 70), Ticonderoga class guided-missile cruiser USS Lake Champlain (CG 57), Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108), along with embarked Carrier Strike Group (CSG) 1, Carrier Air Wing (CVW) 2, and Destroyer Squadron (DESRON) 1 arrived in San Diego June 23, following a five-and-a-half-month deployment to the Western Pacific. Carl Vinson, Lake Champlain, Wayne E. Meyer and embarked air wing and staffs departed San Diego for a regularly-scheduled deployment with the Carl Vinson Carrier Strike Group as part of the U.S.
KOGAS to Receive first Cheniere LNG Cargo
KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S. exporter Cheniere Energy, two sources at the South Korean company said on Friday. The 74,000-tonne LNG cargo was loaded from Cheniere's Sabine Pass export terminal in Louisiana and is scheduled to arrive at the port of Tongyeong, South Korea on July 2, one of the sources said. Both sources declined to be identified.
Asia Tankers-VLCC Rates Supported by Floating Storage
Trafigura hires five VLCCs to store oil; short-term storage a profitable play. Freight rates for very large crude carriers (VLCCs) could creep higher as more ships are chartered for floating storage and crude oil shipments increase ahead of the northern winter, brokers said. "There might be a slow creep up towards 60 (on the Worldscale measure)," said Ashok Sharma, managing director of ship broker BRS Baxi in Singapore on Friday. "W60 is at least on the horizon. Rates from West Africa to China are already at W56," he added.
IMO Project Seeks Maritime Technology Participants
The GMN maritime technology project, run by International Maritime Organization (IMO) and funded by the European Union, has issued a call for expressions of interest from individuals within specified organizations to become members of the GMN Project’s Global Stakeholder Committee (GSC). The GMN project has established a network of five regional Maritime Technologies Cooperation Centres (MTCCs). Together, they are promoting technologies and operations to improve energy efficiency in the maritime sector and help navigate shipping into a low-carbon future.
Corvus Secures $4.9 Mln Credit Facility
Export Development Canada (EDC) has announced the closing of a CAD$6.5 million (US$4.9 million) contract financing credit facility for Corvus Energy Inc., a Richmond, BC-based designer, developer and manufactureer of energy storage systems (ESS) and lithium-ion battery solutions for hybrid and electric marine applications. The financing will allow Corvus to fulfill various export contracts, primarily for hybrid ferries in Europe, EDC said. “The electrification of the maritime industry in Europe is accelerating and the award-winning Orca ESS from Corvus Energy is facilitating that transition,” said Andrew Morden, President and CEO of Corvus Energy.
Statoil, AET Expand Shuttle Tankers Contract
Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. These new vessels are in addition to the two AET DP2 ships currently on charter in the same area for Statoil.
Baltic Index Snaps Six-day Losing Streak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday to snap a six-day streak of losses, boosted by higher demand for panamax and smaller vessels. The overall index, which considers rates for capesize, panamax, supramax and handysize shipping vessels, climbed 11 points, or 1.3 percent, to 855 points. The capesize index shed 27 points, or 2.65 percent, to end at 993 points, its lowest level since Feb. 22. Average daily earnings for capesizes…
Shipping Firms Pay $1.9 Mln for Pollution Cover-up
Two shipping companies based in Egypt and Singapore will pay $1.9 million in penalties after pleading guilty in federal court to violating the Act to Prevent Pollution from Ships (APPS) and obstruction of justice for covering up the illegal dumping of oil-contaminated bilge water and garbage into the sea. Defendants Egyptian Tanker Company and Thome Ship Management are the owner and operator of the offending vessel, the 57,920 gross ton, 809-foot long, oceangoing, oil tank ship called the M/T ETC Mena. The plea agreement was announced by Acting Assistant Attorney General Jeffrey H. Wood for the Department of Justice Environment and Natural Resources Division and Acting U.S. Attorney Brit Featherston for the Eastern District of Texas.
Volvo Ocean Race Yacht Team AkzoNobel Christened
Sailing fans flocked to a harbor in the Dutch city of The Hague yesterday to welcome team AkzoNobel’s new Volvo Ocean Race yacht, which was officially christened by the city’s Mayor. With the start of the race just four months away, skipper Simeon Tienpont and his crew arrived in the Netherlands from Lisbon to a rapturous welcome, when dignitaries and supporters caught their first glimpse of the newly built boat. “It’s a very special moment to have our new boat christened here in The Hague,” said Tienpont. “In many ways, the race starts right here and now for us.
AUSINDEX Strengthens Ties Between Aus, Indian Navies
HMAS Newcastle’s capabilities proved invaluable during a complex warfare scenario involving Indian Navy Ships Shivalik and Kamorta during the Australia-India Exercise (AUSINDEX) held off the Western Australian coast. The ships headed out to sea, after a short harbour phase, to focus on the navies’ interoperability and improvement on their war fighting skills. Speaking from the bridge of Newcastle, Commanding Officer Commander Mark Sirois said AUSINDEX was an excellent opportunity to see both navies working together.
Looking Beyond Maritime Security
Economic stability and sustainable development can be driven by an integrated approach to the maritime sector, including ports, maritime security and facilitation of maritime traffic. Joined-up government policies covering the whole of the maritime sector are critical for the port sector to flourish. These were among key messages delivered by International Maritime Organization (IMO)'s Chris Trelawny, who was speaking at the Port Security Technology conference, London, United Kingdom (20 June)…
Oil at 10-month Low after Biggest First Half Slide in 20 Years
Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing U.S. production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut. U.S. crude futures settled at $42.53, down 98 cents or 2.3 percent, after touching a low of $42.13, the lowest intraday level since August 2016. Since peaking in late February, crude has dropped more than 20 percent, with only brief rallies. More than 1 million front-month crude contracts changed hands on Wednesday, far exceeding the daily average of 560,000 contracts.
Crowley Names Manzi Vice President of SSQE
Crowley Maritime Corporation has appointed Paul S. Manzi as the company’s new vice president of safety, security, quality and environmental stewardship (SSQE), effective July 1. Manzi, who will be based in Jacksonville and report to Carl Fox, senior vice president, corporate services, succeeds Charlie Nalen, who is retiring after 36 years of service to Crowley. Reporting to Manzi will be Daniel Smith and Ketra Anderson, who are both directors of SSQE based in Seattle. Manzi joined Crowley last year as director of health and safety…
GoM Rigs Evacuated ahead of Storm Cindy
Facing incoming Tropical Storm Cindy, offshore oil and gas operators in the Gulf of Mexico have begun evacuating platforms and rigs as the storm moves north-westward toward the U.S. Gulf Coast. Data from offshore operator reports submitted to the Bureau of Safety and Environmental Enforcement (BSEE) as of 11:30 CDT today indicate that personnel have been evacuated from a total of 40 production platforms, or 5.43 percent of the 737 manned platforms in the Gulf of Mexico. Personnel have been evacuated from one rig non-dynamically positioned (DP) rig…
Tropical Storm Cindy Rolls in on US Gulf Coast
Tropical Storm Cindy is likely to hit the Gulf Coast near the Texas-Louisiana border on Wednesday night, threatening to bring flash floods from Texas to Florida, according to the National Hurricane Center. Cindy was located about 165 miles (265 km) south of Morgan City, Louisiana, early on Wednesday with maximum sustained winds of 60 miles (95 km) per hour, the NHC said. The storm was moving northwest at nearly 8 miles (13 km) per hour, and forecasters said they expected this motion to continue until it hits the coast.
XL Catlin Boosts Inland Marine Insurance Capabilities
XL Catlin continues to expand its inland marine field operations with the addition of Russell Crooks as Vice President, National Inland Marine Director, based in San Francisco and Maria Klein as senior underwriter in Baltimore. In his new role with XL Catlin, Crooks will liaise with brokers and clients throughout the western US to address their diverse inland marine insurance needs including motor truck cargo, builder’s risk, contractor’s equipment, and logistics inland marine products, among others. Most recently, he served as Chubb’s regional inland marine practice leader and underwriter.
GE Powered USS Gabrielle Giffords Commissioned
The U.S. Navy’s 10th Littoral Combat Ship (LCS) USS Gabrielle Giffords was commissioned at the Port of Galveston, Texas, on Saturday, June 10, becoming the 16th ship to be named for a woman and only the 13th ship to be named for a living person since 1850. The ship’s homeport will be San Diego. “This is the fifth such LCS in a 10-ship Independence–variant ship program with Austal USA that uses our LM2500. The two LM2500 engines are arranged in a combined diesel and gas turbine or CODAG configuration with two diesel engines…
Combi Lift Orders 19 Vessels from Damen
Damen Shipyards Group said it has secured an order with German heavy lift company Combi Lift to build a total of 19 specially customized shallow draught vessels. The vessels will be used to transport oversized and heavy lift cargo for the Gazprom Amur Gas Processing Plant Project in the Russian Far East. The multiple vessel order comprises four Multi Cats 2608SD, four Pusher Tugs 2612SD, seven Stan Pontoons 8916SD and four Side Floaters 8605SD. Combi Lift’s role in the Gazprom Amur Gas Processing Plant Project will be to transport over 176…
Rosneft to Return to State Dividend Proposal
Igor Sechin, the head of Russian oil major Rosneft, said on Wednesday that his company would return to a government proposal for state-owned companies to pay out 50 percent of their profit in dividends for Rosneft's 2017 results. (Reporting by Denis Dyomkin; Writing by Jack Stubbs)
Noble Group Gets Debt Lifeline
The striggling commodities giant Noble Group has secured a 120-day extension for its USD 400 million credit facility from June 20, 2017. According to Reuters, Noble Group, has over 100 vessels on charter, confirmed that its lenders had agreed to push back a repayment deadline by four months and said it continued to be in talks with potential investors about the sale of an interest in the company or parts of its business. The company had persuaded banks to extend the $2 billion credit line…
The U.S and Philippine Navies Hold Maritime Drill
The U.S. and Philippine navies will participate in the Maritime Training Activity Sama Sama June 19-25 in the vicinity of Cebu. Maritime Training Activity Sama Sama is designed to enhance the complexity and diversity of training opportunities, while strengthening the longstanding alliance between the U.S. and the Republic of the Philippines. The exercise will focus on mutual security concerns that affect the Philippines including piracy and sea smuggling, maritime domain awareness and patrol, and humanitarian assistance and disaster relief preparedness.
Energy-efficient Shipping in South African Curriculum
Maritime educators from South Africa are taking part in an International Maritime Organization (IMO) training workshop to introduce the topic of energy-efficient ship operation into their teaching curriculums. The workshop, taking place in Durban (19-20 June) was developed under the Organization’s GloMEEP project and supports maritime training institutes to deliver the IMO Model Course 4.05 to seafarers. The course consists of lectures, interactive exercises and videos to enhance the learning experience for crews being trained and…
Oil Traders Brace for US Gulf Coast Storm
Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as Tropical Storm Cindy, formed in the U.S. Gulf of Mexico, threatened to hit refining and production centers with wind and rain later this week. Cindy was located about 265 miles (430 km) south of Morgan City, Louisiana with maximum sustained winds of 45 miles (75 km) per hour. It is expected to approach the coast of southwest Louisiana late Wednesday or Wednesday night, and move inland over western Louisiana and eastern Texas on Thursday, the NHC said. The Louisiana Offshore Oil Port, the largest privately owned crude storage terminal in the United States…
Snam in Talks to Buy LNG Terminal Stake from Edison
Italian gas group Snam is in exclusive talks with EDF's Italian unit Edison to buy a stake in a liquefied natural gas terminal in northern Italy as part of plans to develop its LNG business, two sources said. Snam, controlled by state lender Cassa Depositi e Prestiti, is looking to buy Edison's 7.3 percent stake in Terminale LNG Adriatico and the gas pipeline that connects it to Italy's gas transmission backbone, the sources said. Adriatic LNG, which has a capacity of 8 billion cubic metres per year, is 70.7 percent owned by ExxonMobil and 22 percent by Qatar Petroleum.
Truston Achieves ISO 9001:2015 Certification
Marine security services company Truston said its Quality Management System (QMS) achieved ISO 9001:2015 with Design Standard,. Truston partnered the West Virginia Manufacturing Extension Partnership to fine-tune its QMS to include all the enhancements in the latest 2015 standard. Truston leveraged the experience at Smithers Quality Assessments, an accredited quality and environmental management systems certification body, to perform the certification. Truston provides design, fabrication, installation and maintenance services, as well as inspections and repairs. The company's Port Security Barriers (PSB) systems protect waterside assets such as naval vessels and bases, commercial shipyards, LNG terminals, pipelines, oil rigs, nuclear facilities and dams.
Qatar Tells US It Will Maintain Stable LNG Exports
Qatar's finance minister told U.S. Treasury Secretary Steven Mnuchin during a trip to Washington last week that Qatar was committed to maintaining stability around its exports of liquefied natural gas to the global energy market, according to a statement by Qatar's government communication office. "They discussed Qatar’s efforts to counter terror financing ... and Qatar’s commitment to maintaining stability around its exports to the global energy market," the statement said. Saudi-led sanctions imposed two weeks ago on Qatar, the world largest exporter of LNG, have raised concerns about the Gulf state's energy output but officials have said Qatar's LNG exports have not been affected. (Reporting by Tom Finn)
Former US Navy Attaché Sentenced for Taking Bribes
A Retired U.S. Navy Captain was sentenced in federal court today to 41 months in prison for his role in a massive bribery and fraud scheme involving foreign defense contractor Leonard Glenn Francis and his firm, Singapore-based, Glenn Defense Marine Asia (GDMA). Acting Assistant Attorney General Kenneth A. Blanco of the Justice Department’s Criminal Division, Acting U.S. Attorney Alana W. Robinson Southern District of California, Director Dermot O'Reilly of the Defense Criminal Investigative Service and Director Andrew Traver of the NCIS made the announcement. In addition to the 41-month prison sentence, U.S. District Judge Janis L. Sammartino ordered Michael Brooks, 59, of Fairfax Station, Virginia, to pay a $41,000 fine and $31,000 in restitution to the U.S. Navy.
Avance Gas Expects Weak 2017, Recovery from 2018
Shipping firm Avance Gas Holding , which transports liquefied petroleum gas (LPG), expects freight rates for its vessels to remain weak in 2017 despite an improvement in the last two weeks, the Oslo-listed firm said. A sharp influx of newly built very large gas carriers (VLGCs) pushed global spot vessel rates from above $100,000 per day two years ago to around $10,000 recently, although rates have since risen to about $11,000. "There is more export of LPG from the United States…
Offshore Gas Safety atop the Agenda for Martek Marine
Maritime industry technology specialists Martek Marine say it is setting the bar high when it comes to offshore gas safety. The company has developed a first-of-its-kind gas sampling system for a new moored floating production unit, which forms part of the Jangkrik Complex gas fields development in Indonesia. The system has been developed to dramatically improve offshore crew safety through the use of advanced gas sampling technology. The worst offshore disaster in history, the Piper disaster on July 6…
Labor Trouble Causes Gothenburg Box Count to Drop
Port operator APM Terminals, part of shipping group A.P. Moller-Maersk, said it has seen container throughput at its Gothenburg terminal in Sweden fall by 70,000 over the past year because of labour disruptions. "We have lost about 70,000 containers in revenue over the past year," Henrik Kristensen, head of APM Terminals in Gothenburg, told Reuters on Tuesday. The port operator said earlier on Tuesday that it will cut 160 staff at the Gothenburg terminal, after container volumes had dropped by 25 percent.
Fitch: Boxship Rates Rise, Capacity Still Key
Fitch Ratings' Report: What Investors Want to Know: Container Shipping. Container shipping companies have benefited from a modest increase in freight rates since the start of the year, but a sustainable recovery in the container market will only be achieved by reaching a viable supply/demand balance through capacity cuts, Fitch Ratings says. Container transport volumes outstripped capacity growth in 2016 for the first time since 2010-2011, helped by a higher rate of vessel scrapping and delayed deliveries.
Maritime UK on Brexit Negotiations
As negotiations begin on the UK's departure from the European Union, David Dingle CBE, Chairman of Maritime UK said: "These are the most critical set of negotiations in a lifetime. “Above all, we need free trade with Europe as well as the rest of the world, enabling our sector to perform its unique and fundamental role in facilitating UK global trade. “A cross-party agreement on Brexit would be a powerful tool to demonstrate a united front in the negotiations. Negotiating such an agreement would mean that the final deal had the widespread support of the British people…
J.P. Morgan Raises Distressed Shipping Fund
J.P. Morgan Global Alternatives has closed a $480 million fund to invest in distressed shipping assets, attracting capital from pensions, endowments and insurance companies, reports Financial News London. The Global Maritime Investment Fund II, which surpassed its $400 million targeted capital raise, is one of the largest dedicated shipping funds. It seeks to invest, through a closed end structure, in modern vessels operating in shipping sub-sectors that are experiencing substantial distress, with values trading near historical lows.
Ballarat Completes Malaysian Visit
Australia's HMAS Ballarat has completed a port visit to Sepanggar, Malaysia as part of a three month South East Asia deployment. She was in the region to enagage with the Royal Malaysian Navy, and load supplies before she returns to Australia for further exercises. Chief of Joint Operations, Vice Admiral David Johnston, said Ballarat’s deployment provided an opportunity to engage with many nations in South East Asia. “Our enduring military to military engagement activities contribute to security and stability in our region,” he said.
DMA Ship Station License Goes Digital
The Danish Maritime Authority (DMA) continues its work digitalising Blue Denmark in order to utilise the technological solutions available for the benefit of Blue Denmark. Now, the Ship Station License has become digital – just like the other ship certificates. The number of administrative burdens imposed on the industry is reduced through digitalisation of the Ship Station License. Director Rasmus Høy Thomsen said: ”One of the advantages of a digital Ship Station License is that it is always available online.
India to Sensitize Maritime Fraternity to New Tax Regime
The Ministry of Shipping in India conducted a workshop on “GST for Shipping” in New Delhi today to sensitize all constituents of the maritime fraternity, as the country lauches the new Goods and Services Tax (GST) to revolutionize the country's tax system. The workshop was attended by representatives from ports, various attached and subordinate organizations under the Ministry of Shipping and industry associations. Chairing the workshop Rajive Kumar, Secretary Shipping said that…
Ingalls Bags $3 Bln for Bougainville (LHA 8) Build
Huntington Ingalls Industries (HII) said its Ingalls Shipbuilding division has been awarded a $3 billion contract for the detail design and construction of the new U.S. Navy amphibious assault ship Bougainville (LHA 8). Ingalls was awarded the original long-lead material contract for the third ship in the America (LHA 6) class on June 30, 2016. “Our shipbuilders do an outstanding job building large-deck amphibious warships,” Ingalls Shipbuilding President Brian Cuccias said. Construction is scheduled to begin in the fourth quarter of 2018, and delivery is expected in 2024.
ICS Urges IMO to Set Ballast Water Implementation Dates
The International Chamber of Shipping (ICS) has urged the International Maritime Organization (IMO) to back a proposal from a broad coalition of governments concerning the implementation dates for installing new ballast water treatment systems. “If this pragmatic proposal is agreed, this would allow shipping companies to identify and invest in far more robust technology to the benefit of the marine environment,” said ICS Secretary General, Peter Hinchliffe. ICS says that this IMO decision on dates…
Saudi Navy Detains IRGC Boat
The Saudi navy has captured three members of Iran's Revolutionary Guard Corps (IRGC) from a boat seized last week as it approached the kingdom's offshore Marjan oilfield, the Saudi information ministry said on Monday. Relations between the two countries are at their worst in years, with each accusing the other of subverting regional security and support opposite sides in conflicts in Syria, Yemen and Iraq. "This was one of three vessels which were intercepted by Saudi forces. It was captured with the three men on board, the other two escaped," a statement from the ministry's center for international communications said. "The three captured members of the Iranian Revolutionary Guard are now being questioned by Saudi authorities," it said, citing a Saudi official.
Marshall Islands Dismisses Frontline's Bid to Stop DHT Takeover
The High Court of the Marshall Islands has dismissed with prejudice a lawsuit brought by tanker firm Frontline to stop rival DHT selling a major stake to shipper BW Group, DHT said on Monday. Frontline, which according to Thomson Reuters Eikon data holds a 10.3 percent stake in DHT and is controlled by shipping tycoon John Fredriksen, has been trying for the past year to take over its New York-listed rival. However, DHT struck a tankers-for-shares deal with BW Group in March, making the latter DHT's biggest shareholder with a stake of over 30 percent.
Updated ShipArrestor System Delivered to NCA
An improved and upgraded version of the Miko Marine ShipArrestor system has been delivered to the Norwegian Coastal Administration (NCA). The system has been developed to give nations the ability to protect their coastlines from the danger of ships that have lost engine power and from the pollution that can result when they run aground. The ShipArrestor system uses a specially designed parachute-shaped sea anchor that is connected to a drifting ship by helicopter and secured without any need for crew involvement.
An Hour Passed before Japan Authorities were Notified of Fitzgerald Collision
Nearly an hour elapsed before a Philippine-flagged container ship reported a collision with a U.S. warship, the Japanese coastguard said on Monday, as investigations began into the accident in which seven U.S. sailors were killed. The U.S. Navy confirmed that all seven missing sailors on the USS Fitzgerald were found dead in flooded berthing compartments after the destroyer's collision with the container ship off Japan early on Saturday. The Fitzgerald and a Philippine-flagged container ship collided south of Tokyo Bay early on Saturday. The cause of the collision is not known. Multiple U.S.
Baltic Index Falls for Fourth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight session on Monday, pressured by weaker capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 3 points, or 0.35 percent, at 848 points. The capesize index lost 44 points, or 3.63 percent, at 1,169 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $372 to $8,798.
DOF Subsea Shelves IPO Plans
Norway's DOF Subsea has decided to hold off on launching its initial public offering (IPO), citing volatile market conditions. Company shareholders DOF ASA, with 51 percent, and a fund managed by First Reserve, with 49 percent ownership, announced in May that they were considering an opportunity for the company to apply for a listing on Oslo Stock Exchange. The shareholders have now decided to shelve these plans, instead opting to wait for market conditions to improve. “Since the review started…
Wells Fargo Calls $100 Oil a 'Pipe Dream'
USD 100 per barrel oil is but a “pipe dream,” Wells Fargo said in a new investor note, reports MarketWatch. The report quoted Wells Fargo’s John LaForge saying that he’s doesn’t expect oil prices to climb anywhere near $100 a barrel over the next few years. Barrels price will bounce between $30 and $60 in the coming years, according to top bank’s diagnosis. “We continue to hear that big cutbacks are on the cusp of happening,” he said. “The evidence, however, implies otherwise. Shale production has caused American output to stand higher than it did in 2014, before the oil price crisis began.
Vroon Says Talks with Banks ‘Constructive’
Troubled family-owned Dutch shipping group Redderij Vroon has dismissed media reports claiming the company’s future to be uncertain, as it may be unable to service its debt. The Dutch company specializing in offshore and shipping business has reached agreement with its creditors, the Telegraaf reported. The Breda-based concern has debts totalling EUR 1.1bn, and some activities will be trimmed down. A press release from the company said that Vroon has a substantial presence in the offshore-support-vessel market, through its subsidiary Vroon Offshore Services.
CGG Files for Bankruptcy
French geosciences giant CGG has filed for bankruptcy as part of financial restructuring process to reduce its $3 billion debt. "CGG has begun legal processes to implement a comprehensive pre-arranged restructuring, with the opening of a safeguard proceeding in France and Chapter 11 and Chapter 15 filings in the US," said a statement from the company. CGG has executed the legally binding agreements in support of the terms of the agreement-in-principle with key financial creditors announced earlier this month.
NYC Jobs Plan Aims to Bolster Freight Network
New York City Mayor Bill de Blasio today unveiled a series of initiatives aiming to spur 100,000 high-paying jobs over the coming decade across a number of sectors, including the City's maritime and intermodal freight and logistics industries. As part of the New York Works plan, the city will implement a multipronged strategy called Freight NYC that seeks to create 4,000 freight network industrial jobs by building more shipping and distribution infrastructure to connect NYC to the nation’s Marine Highway.
Frontline Expects VLCC Storage Play to Rise
Tanker firm Frontline, controlled by billionaire investor John Fredriksen, expects a growing number of supertankers to be used for storing crude in anticipation of higher oil prices, its chief executive told Reuters on Friday. While none of Frontline's own vessels are currently used for this purpose, independent shipbrokers estimate that around 10 of the world's very large crude carriers (VLCCs) have recently been contracted for oil storage. "It sounds correct, and the number is rising," Frontline Chief Executive Officer Robert Macleod said. "It's always an option," he added.
World's Largest Hybrid Ferry gets Rolls-Royce Power
Rolls-Royce announced that it received an order for four B33:45L diesel engines to power the world’s largest hybrid ferry being built for the Norwegian cruise and transport company Color Line. The ferry, designed by Fosen and to be built at Ulstein Verft in Norway, is due for completion by the summer of 2019 and is scheduled to operate on the crossing between Sandefjord in Norway and Strømstad in Sweden. The new Color Line ferry will be a plug-in hybrid combining diesel and electrical power.
Mercuria, PetroChina Selling Offshore Stored Fuel Oil
Three to four tankers storing fuel oil, down from eight or nine. Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored in vessels off Singapore and southern Malaysia on strong demand from the shipping and power sector, several trade sources said on Friday. The number of vessels storing fuel oil has halved from a month ago as Mercuria and PetroChina may have resold cargoes purchased over March to May, the sources said. Geneva-based…
Asia Tankers-VLCC Rates Plateau, Could Edge Higher
Floating storage, West Africa cargoes support rates; further storage charters may push rates to W60. Freight rates for very large crude carriers (VLCCs), which were supported this week by a shift to using older vessels for floating oil storage, have plateaued at current levels but could nudge higher on further storage plays, brokers said on Friday. Rates from the Middle East to Asia are currently around 50 on the Worldscale measure and W55 from West Africa to Asia depending on vessel age and actual destination, brokers said.
Pacific Radiance Gets USD 45.3mln in Vessel Deals
Singapore's Offshore support vessel (OSV)-focused Pacific Radiance said that it has won US$45.3 million of new contracts including options, which will add to its operating cash flow. Under these contracts, ten of the Group’s offshore support vessels, including a diving support vessel, are being deployed to support projects in Asia and the Middle East. They are chartered to new and existing clients to provide services which include towing, repair and maintenance, transportation and platform support.
CTF 150 Makes Record Number of Drug Busts
In a four-month span, Combined Task Force (CTF) 150 of the Bahrain-based Combined Maritime Forces has proven itself a formidable force against narcotics trafficking, with 10 drug seizures totaling over 3,300 kilograms of heroin, cocaine, cannabis resin and hashish since March. It started with the Royal Australian Navy frigate HMAS Arunta (FFH 151) on March 2, when the crew seized 800 kilograms of hashish, a drug made from cannabis. Eleven days later on March 13, the U.S. Navy guided-missile destroyer USS Laboon (DDG 58) seized 270 kilograms of heroin and then again on March 17…
Brazil Criticized for Dumping Toxic Ships in South Asia
NGOs and trade unions in Brazil have criticized the state-run Petrobras’ end-of-life fleet management by dumping toxic ships on South Asian beaches. The Brazilian Confederação Nacional dos Trabalhadores em Transportes Aquaviários e Aéreos, na Pesca e nos Portos (CONTTMAF) trade union federation and its member SINDMAR (Sindicato Nacional dos Oficiais da Marinha Mercante) have recently criticized the shipbreaking practices of Transpetro, the oil and gas transportation subsidiary of the Brazilian petroleum corporation Petrobras, majority-owned by the State.
US Ships on Course for More Days in South China Sea
U.S. Navy ships are on track to spend more time in the South China Sea this year, U.S. Pacific Fleet Commander Admiral Scott Swift said on Thursday in China, where a U.S. warship was making a port call. The visit by the USS Sterett guided-missile destroyer to Zhanjiang in Guangdong province, the first U.S. warship to visit China since President Donald Trump took office, comes amid tension in the disputed South China Sea, where Washington has criticised Beijing for building artificial islands. U.S.
Missile Attack on UAE Ship Off Yemen
One crew member was wounded when Yemen's Houthis fired a missile at a United Arab Emirates ship in the Red Sea, the Saudi state news agency SPA reported on Thursday, in the latest in a series of attacks on ships in the area. SPA said the ship came under attack as it was leaving the port of al-Mokha. The ship itself was not damaged. "One crew member was injured," SPA said, citing a statement by a Saudi-led military coalition, without giving further details. The Houthis had reported the attack earlier, broadcasting a grainy video of what Houthi-run media said was a missile being fired and then bursting into a ball of fire as it hit its target. The attack was part of a protracted conflict between the Iran-aligned Houthis and the Saudi-led coalition.
Langh Tech Scrubber Honored
The scrubber from Langh Tech received the Baltic Sea Clean Maritime Award at the Baltic Sea Forum in Berlin. The third-place award was handed to Langh Group’s Chairman of the Board, Maritime Counsellor Hans Langh by Professor Kurt Bodewig, European Coordinator Baltic-Adriatic. The Forum was organized in connection with the EU Strategy for the Baltic Sea Region (EUSBSR) Annual Forum. The Baltic Sea Clean Maritime Award is awarded to innovative and environmentally friendly solutions and ideas, which promote the well-being of the Baltic Sea.
A Legal Approach to Marine Casualty Response
Maritime attorney David Russo provides a valuable primer for maritime stakeholders faced with a marine casualty. Because it isn’t a question of if, it is a question of when. Will you be ready? When there is a marine incident, the vessel owner/operator has two risks of exposure: to both civil and criminal liability. These risks can arise from a number of variables, including but not limited to (a.) a pollution event, (b.) a death or injury, (c.) unseaworthy vessels (including inadequate crew or procedures)…
Kotug Smit Towage Orders Three New Tugs
With its latest newbuild order, Kotug Smit Towage will bring the total number of Damen-built tugs operating in its fleet of 69 to 22. The European harbor towage services provider has ordered a trio from Damen Shipyards Group, including two 80 metric ton bollard pull ASD Tugs 2913 (including one with firefighting capabilities) and a 70 metric ton bollard pull ATD Tug 2412 Twin Fin. Kotug Smit Towage CEO, René Raaijmakers, said the three new tugs will support the company’s growth in the U.K.
Seized Moroccan Ship to Stay in South Africa, Court Rules
A South African court ruled on Thursday that a seized ship carrying a Moroccan cargo of phosphate from the disputed Western Sahara should remain in port until the case goes to trial or security is posted, a lawyer for the Polisario independence movement said. The Polisario Front alleges the 50,000 tonne shipment en route to New Zealand was illegally taken from Western Sahara territory and went to court to have the cargo seized. The case is a test of Polisario's new legal tactic in its long-running conflict with Morocco over Western Sahara, a disputed territory where the two sides fought a war until a 1991 ceasefire and where U.N. talks have failed to reach an accord.
Baltic Index Slips as Capesize Rates Fall
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Thursday as capesize rates fell for the second straight day. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 10 points, or 1.16 percent, at 855 points. The capesize index lost 85 points, or 6.24 percent, at 1,277 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $793 to $9,748.
Port of Charleston Cleared after Bomb Scare
A container terminal at the Port of Charleston has resumed normal operations after being cleared of a potential bomb threat aboard a containership. At approximately 8 p.m. Wednesday authorities were informed of a potential threat in a container aboard the vessel Maersk Memphis moored at Charleston's Wando terminal, forcing a temporary evacuation of the terminal while federal, state and local bomb detection units investigated the threat. Law enforcement identified four containers aboard the Maersk Memphis where the threat was posed. The containers were scanned and cleared.
LNG Platform Supports HFO Ban in Arctic
German Maritime LNG Platform signed the Arctic Commitment, joining a diverse group of international companies, organisations, politicians and polar explorers calling for a ban on heavy fuel oil (HFO) use in Arctic shipping. "The Clean Arctic Alliance welcomes the German Maritime LNG Platform as a signatory of the Arctic Commitment. The LNG Platform joins a growing international movement calling for a ban on the use of HFO by ships in the Arctic’s pristine and fragile environment”…
Denmark, China Discuss Maritime Cooperation
The Danish Maritime Authority (DMA) and the Chinese Bureau of Water Transport met June 14 to discuss the two countries' cooperation in the maritime field as well as the general challenges faced by maritime transport. “Chinese and Danish ship owners are among the world's largest carriers at sea, and as maritime nations we share many common interests,” said DMA Director General, Andreas Nordseth. “China and Denmark meet regularly to exchange views, ideas and experiences on maritime issues,” Nordseth said.
Eastern Fleet Ships Enter AUSINDEX-17
In pursuance of India’s ‘Act East’ policy, Eastern Fleet under the command of Rear Admiral Biswajit Dasgupta, YSM, VSM, the Flag Officer Commanding Eastern Fleet are on an overseas deployment to the South East Asia and Southern Indian Ocean. Indian Naval Ships Jyoti, Shivalik and Kamorta are on a port visit to Freemantle, Australia from 13 June to 17 June 2017. Vice Admiral HCS Bisht, PVSM, AVSM, ADC, Flag Officer Commanding Eastern Naval Command is also visiting Freemantle during the period.
USS Sterett Arrives in China
The Arleigh Burke-class guided-missile destroyer USS Sterett (DDG 104) arrived in Zhanjiang, China, June 12, 2017, for a scheduled port visit. Sterett's visit is the first U.S. Navy visit to Zhanjiang since 2015 and the first U.S. Navy visit to mainland China in 2017. "This visit is an exciting opportunity to promote maritime cooperation and reinforce a navy-to-navy relationship with our People's Liberation Army Navy (PLA(N) counterparts," said Cmdr. Claudine Caluori, Sterett's commanding officer.
TechnipFMC & the Future of 'Super-profit Oil'
TechnipFMC’s Andersen discusses the way forward now that “super-profit oil” is over. Ann Kristen Andersen heads up oilfield projects as offshore services and equipment supplier TechnipFMC’s managing director for Norway and Russia. She started her job on the first day of February 2017, a month after a merger that changed the company and has already partly changed an industry beginning to ramp up activity with the oil price buoyant at $55 per barrel. How has the merger that created TechnipFMC — which answered calls for lower offshore costs in tough times — changed the way you do things?
Op/Ed: The Spill Response Industry's Greatest Challenges
Devon Grennan, president and CEO of Global Diving & Salvage, and president of the Spill Control Association of America (SCAA) asks the tough questions. What are the biggest challenges the spill response industry faces in light of the current political and economic climate in the United States? And what is SCAA doing to meet these challenges? I see the primary challenge that the spill response industry – as well as SCAA’s membership – currently has is to manage expectations and competing interests at a unique point in our nation’s energy renaissance.
Port of Kiel Opens Waste-water Reception Facility
A modern ship waste-water reception facility went into operation at Kiel’s Ostseekai on June 14. During an inauguration ceremony the new plant’s valves were symbolically opened by Kiel’s Lord Mayor Dr. Ulf Kämpfer, Construction chief Doris Grondke, the head of the Water Management and Marine and Coastal Protection Department in the Schleswig-Holstein Environment Ministry Dietmar Wienholdt, Port chief Dr. Dirk Claus and Captain Kjell Holm of TUI Cruises. The new facility, which cost well over €1.8 million…
Baltic Exchange Mulls New Freight Indexes for Grains, LNG
The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates and owns a trading platform for the multi-billion dollar freight derivatives market. SGX's ownership of the Baltic has enabled the exchange to set its sights on developing new areas…
Crown Princess Victoria of Sweden Calls for Saving Ocean
“Do what you can, do it wisely, and most importantly do it now. A healthy ocean is not a luxury item. It is a necessity for survival. And taking care of the ocean means taking care of ourselves,” Crown Princess Victoria of Sweden said. She was addressing the Stockholm Resilience Centre event on “Engaging the private sector in SDG 14” on 9 June, taking place during the Ocean Conference at UN Headquarters in New York. One of 17 Sustainable Development Goals (SDG) Advocates, the…
Indian Warships Arrive Australia for Maritime Drill
Three Indian warships sailed into Fremantle to participate in a week-long naval exercise off the Western Australian coast. Exercise Australia India is a regular bilateral maritime exercise aimed at developing a deeper understanding and cooperation between the two navies. Commander Australian Fleet, Rear Admiral Stuart Mayer, said the Exercise was a concrete example of India and Australia working more closely together to increase maritime security. “Australian and India share a commitment to a stable and prosperous Indian Ocean region,” Rear Admiral Mayer said.
MSC Adopts Amendments to SOLAS2020
International Maritime Organization (IMO)'s Marine Safety Committee (MSC) adopted amendments to SOLAS2020 that raise the damage stability requirements for passenger vessels in the event of flooding caused by a collision. These changes used as a basis a series of EU and European Maritime Safety Agency (EMSA) funded cooperative research projects conducted by academics, shipyards, ship operators, owners, classification societies and ship design consultants over several decades. “To their great credit…
Sen. Wicker Calls for a 355-Ship Navy
U.S. Senator Roger Wicker (R-Miss.), Chairman of the Senate Seapower Subcommittee, delivered the first in a series of scheduled remarks aimed at making the case for growing the U.S. Navy fleet to 355 ships, a goal shared by President Trump. Wicker’s speech focused primarily on shipbuilding and the capacity of the submarine industrial base to meet the Navy’s requirements. “President Trump wants a 350-ship Navy, which aligns with the Navy’s requirement for 355 ships. Right now, we only have 275 ships in the battle fleet.
Shipping’s ‘Perfect Storm’ is Brewing -Allianz
Large shipping losses have declined by 50 percent over the past decade, mostly driven by the development of a more robust safety environment by ship owners, according to Allianz Global Corporate & Specialty SE’s (AGCS) fifth annual Safety & Shipping Review 2017. In 2016 there were 85 total shipping losses reported, down 16 percent from 101 a year earlier. The number of shipping incidents declined slightly year-on-year by 4 percent with 2,611 reported, according to the review, which analyzes reported shipping losses over 100 gross tons.
Maersk Sells Mercosul Line to CMA CGM
An agreement between two container carrier giants will see CMA CGM acquire Maersk Line owned Mercosul Line, a player in Brazil’s domestic container shipping market. The price of the sale was not made public. The transaction is subject to Brazilian regulatory approval as well as the closing of Maersk’s recent Hamburg Süd acquisition. At the earliest, Mercosul's integration within CMA CGM is expected to start in Q4 2017 at the same time as the Hamburg Süd integration. Until then, Mercosul Line will continue business as usual.
Smiths Detection: Next-Gen Container Scanning Tech
Innovative new ontainer scanning technology is being developed for the CORE (Consistently Optimized REsilient Secure Global Supply-Chains) European Research Project by Smiths Detection, a leader in detecting weapons, biohazards, radioactive material, narcotics and contraband. Smiths Detection is designing both hardware and software for the next generation of container scanners, which will speed-up throughput and improve detection. The aim is to verify as quickly and accurately as possible whether a container holds only its declared legal cargo and is not harboring contraband…
El Nino Signal is Weakening in the Pacific
The probability of El Nino, a warming of ocean surface temperatures in the eastern and central Pacific, developing this year has been downgraded by U.S. government forecasters as sea surface temperatures and wind speeds in the area remain close to their long-term averages. The Pacific saw a relatively rapid swing in late October from La Nina conditions - characterised as unusually cold temperatures in the equatorial Pacific Ocean - to neutral or even slightly El Nino-leaning conditions by March. Since then, however, the oceanic and atmospheric signals pointing to a possible El Nino have all weakened. The U.S. National Oceanic and Atmospheric Administration (NOAA) last week downgraded the probability of El Nino conditions being present in the fourth quarter of 2017, to just 36 percent.
Optimarin, Goltens Ink Spare Parts and Service Deal
Optimarin informs it has signed an agreement with Goltens Green Technologies giving the Norwegian-headquartered ballast water treatment (BWT) specialist a global network of spare parts warehousing and service engineers. The framework agreement, negotiated at this month’s Nor-Shipping, will enable Optimarin to use facilities in Asia, North America and the Middle East to provide its worldwide customer base with local lead times for the commissioning and maintenance of its market proven Optimarin Ballast System (OBS). “We know Goltens very well,” said Optimarin CEO, Tore Andersen.
Fincantieri Buys Stake in Isselnord
Italian shipbuilding group Fincantieri said it has signed through one of its subsidiaries an agreement for the acquisition of a stake in Isselnord, an Italian company operating in defense-related sectors and in the main industrial branches in the civil sector, specialized in logistic support engineering, maintenance and information technologies. The agreement was signed through Fincantieri’s company Delfi, created in 2008 in joint venture with Isselnord, charged with the development of logistic support engineering and maintenance activities related to orders in the naval sector. The initial transaction is for a majority stake in the company, with full takeover to be completed within a predetermined time frame, Fincantieri said.
Baltic Index Unchanged After Recent Surge
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was little changed on Tuesday, as higher rates for panamax and supramax vessels were offset by weaker rates for capesize. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was flat at 870 points. The capesize index shed 39 points, or 2.63 percent, at 1,442 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $312 to $11,265.
Asian Crude Storage Trend Impacts OPEC Cuts
Current markets make it profitable to store oil for future sale; many tankers sitting around Singapore storing oil. A 10-percent decline in oil prices since late May could push traders to keep crude in storage, looking to sell down the line when forward prices are higher. That would undermine the impact of supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), which partly aimed to force traders holding oil in storage to sell to reduce bloated inventories that have sapped global prices .
Star Bulk Acquires Supramax
Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, has announced that it has entered into a definitive agreement to acquire a Supramax dry bulk carrier from an unaffiliated third party. The acquisition will be partly financed through debt secured from a financial institution. The Vessel has a carrying capacity of 56,582 deadweight tons and was built to high specifications at Jiangsu Hantong Shipyard, China in 2011. The Vessel is expected to be delivered to Star Bulk during the month of July 2017.
Piraeus Port Signs MoU with Shanghai Port
The Cosco-managed Piraeus Port Authority (OLP) and Shanghai International Port Group, the world's biggest commercial port, signed a Memorandum of Understanding (MOU) envisioning cooperation in infrastructure studies, personnel training, information exchange and technical assistance. The MOU was signed by Athanasios Liagkos Executive Management Consultant & BoD member of the PPA SA and the Chairman of Shanghai International Port Group, Chen Xuyuan. This development further highlights Piraeus's strategic position on the world map and especially on the New Silk road.
BP in Talks with Sirius for Ororo Offtake
Nigeria's Sirius Petroleum has said that it is in talks with BP, regarding an offtake and pre-payment facility to support the financing of Sirius's proposed drilling programme on the Ororo field in Nigeria. According to the company, the discussion involves an offtake and pre-payment facility to support the financing of its planned drilling programme on the field. “Discussions with BP, and other parties regarding financing, are ongoing and there can be no certainty that Sirius will reach an agreement with BP regarding the proposed offtake and pre-payment,” it confirmed.
Indian Naval Ship Sahyadri Visits Papua New Guinea
Indian Naval Ship Sahyadri has visited Papua New Guinea on its four-day overseas deployment to the Southeast Asia and Southern Indian Ocean aimed to strengthen existing bonds between the two countries. The ship would be on a port visit to Moresby from 12 June to 15 June 2017. The visit of the Indian Naval Ships seeks to underscore India’s peaceful presence and solidarity with friendly and harmonious countries towards ensuring good order in the maritime domain and to strengthen existing bonds between Papua New Guinea and India.
Oil Spill Training Exercise in West Africa
A tanker collides with an unknown ship off the Ivorian coast, causing a major oil spill. This was the scenario of an oil spill training exercise that took place in Abidjan and Assinie, Côte d’Ivoire (8-9 June). The deployment exercise involved more than 100 participants from various public institutions and the private sector, working together to fight the simulated spill, first at sea and then ashore. The event tested Côte d’Ivoire’s National Oil Spill Contingency Plan, which has been developed over recent years with support from the Global Initiative for West…
Is Container Shipping on the Mend?
A new report from Drewry’s investment research arm, Drewry Financial Research Services Ltd., examines the financial health of the global container shipping industry. In the report, Container Shipping - A Financial Health Check - Macros and Micros, Drewry analysts have updated their independent assessment of the industry's financial health, identifying lingering areas of concern and even signs of hopes for the sector. As reverberations form the Hanjin Shipping fallout are still felt through the global supply chains ecosystem…
Hunter Maritime Terminates Tender Offer for Bulkers
Marshall Islands based Hunter Maritime Acquisition revealed it has “mutually agreed” with Germany’s Oskar Wehr to terminate the master agreement and the memoranda of agreement (MOA) related to the acquisition of five Capesize dry bulk carriers. The Tender Offer expired on June 9, 2017, and as of that time, certain conditions to the consummation of the Tender Offer and the Acquisition were not satisfied, including the condition that not more than 8,233,100 Class A common shares shall have been validly tendered and not properly withdrawn at the Expiration Date.
Sunrui Earns USCG BWMS Type Approval
The U.S. Coast Guard Marine Safety Center issued the fourth U.S. Coast Guard Ballast Water Management System Type Approval Certificate to Sunrui Marine Environment Engineering Co., Ltd. after a detailed review of the manufactures type approval application determined the system met the requirements of 46 CFR 162.060. The Sunrui BalClor system incorporates a three step process consisting of filtering and electrolysis during uptake and neutralization at discharge. This approval covers 14 models with maximum treatment rated capacities between 170m3/h and 8500m3/h.
Alfa Laval: New Test Facilities, New Technologies
Heat transfer, separation and fluid handling technology specialist, Alfa Laval, has expanded its Test & Training Center in Aalborg, Denmark with a new gas testing facility. At the same time it continues developing new technologies in the areas of ballast water treatment, sulfur oxide emission control, touchscreen boiler control, fuel efficiency automation for inert-gas systems and methanol booster systems. Alfa Laval, a global provider of specialized products and engineering solutions based on the key technologies of heat transfer…
Maritime Cyber Security: Good, Better & Best
As an industry that spends a great amount of its resources procuring and sending data in order to operate, the maritime industry is an attractive target for cyber criminals. Due to the remote locations of vessels and limited staff aboard ships and rigs, organizations and their offshore vessels and platforms are often ill equipped to ward off cyber threats. The cost and repercussions of a breach can be extensive in terms of both money and crew safety. According to a recent study, the cost of cybercrime has even surpassed that of drug crime.
ABS Expands Greek Presence
Classification society ABS unveiled its Global Ship Systems Center and announced the formation of its Hellenic Technical Committee in Athens. “This cutting-edge facility brings together industry-recognized technical leaders to support clients throughout the entire lifecycle of their assets,” said ABS Chairman, President and CEO Christopher J. Wiernicki. Through a systems-based approach, the Global Ship Systems Center addresses the increasing complexity of mechanical and cyber-enabled systems onboard vessels.
MSC to Start Oman-Qatar Shipping Service
Swiss-based MSC will offer a new shipping service to Qatar from Oman, the world’s No.2 container shipping line said on Monday, a week after Gulf states imposed port and trade restrictions on Doha. "MSC never stopped accepting bookings to Qatar as it investigated alternative routing options," the privately owned group said in a statement. (Reporting by Jonathan Saul)
Capesize, Panamax Bulkers Carry Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, climbed for the fourth straight session on Monday on improving capesize and panamax rates. The overall index — which factors in rates for capesize, panamax, supramax and handysize shipping vessels — was up 21 points, or 2.47 percent, at 870 points. The capesize index gained 43 points, or 2.99 percent, to 1,481 points. "The capesize dry bulk segment is building off of last week's momentum on the back of a meaningful uptick of activity in the Atlantic market…
COSCO Shipping Suspends Qatar Services
China's COSCO Shipping Lines Co Ltd has suspended shipping services to Qatar, citing "uncertainties" after Arab countries severed diplomatic ties with the Gulf state and imposed port restrictions. The world's fourth-largest shipping line joins Taiwan's Evergreen and Hong Kong's OOCL in suspending services after Saudi Arabia, Egypt and other Arab nations cut ties with Qatar over its alleged support for terrorism, an accusation the country denies. COSCO told customers about the suspension of services to and from Qatar's Hamad Port in a notice issued on June 7…