Marine Transportation News

04 Nov 2019

Kuok Makes Cash Offer for POSH

 Image courtesy: PACC Offshore Services Holdings

The Kuok Group, through its investment vehicle Quetzal Capital, announced a voluntary conditional cash offer to buy out Singapore-listed PACC Offshore Services Holdings Ltd (POSH).Quetzal Capital said that the conditional offer to acquire all of POSH for S$0.215 a share, marking a 97.2 percent premium over the stock’s closing price on 30 October.The offer price represents a premium of approximately 109.8%, 96.2%, 69.6% and 35.3% over the one-month, three-month, six-month and twelve-month volume-weighted average prices respectively…

01 Nov 2019

Polymer Pioneer Receives Engineering's Highest Accolade

George A. (Sandy) Thomson (Photo: Thordon Bearings)

On October 31st, 2019, George A. (Sandy) Thomson, the founder of Thordon Bearings and a pioneer in the development of advanced polymer materials, was presented with the 2019 Elmer A. Sperry Award in recognition of “leading the innovation in water-lubricated propeller shaft bearings” in marine transportation through the use of polymeric compounds.The award was presented to Mr. Thomson at the SNAME Maritime Convention, in Tacoma, USA, by the Chairman of the Board of the Institute of Marine Engineering, Science and Technology (IMarEST), Mr.

24 Oct 2019

Maritime Risk Symposium, Nov. 12-15 at SUNY Maritime

© Oleksii Fadieiev/Adobe Stock

The State University of New York Maritime College, in collaboration with the U.S. Coast Guard, National Academy of Sciences, academic institutions, industry partners, and federal, state and local agencies, will host the 10th Annual Maritime Risk Symposium (MRS 2019) Nov. 13-15, 2019, at New York Maritime College located in the Bronx, New York.MRS 2019 will bring together academics, government and commercial entities to discuss the threats, challenges and risks associated with the Marine Transportation System with a focus on current and future marine transportation challenges and threats.

22 Oct 2019

Teekay Resolves China LNG JV Issues

Pic: Teekay Group

Teekay LNG’s 50/50 joint venture with China LNG, which owns four on-the-water ARC7 LNG carriers and two ARC7 LNG carrier newbuildings, is also no longer classified as a “blocked person” under Office of Foreign Assets Control (OFAC) rules.According to a press release from the owners and operators of LNG carriers, providing LNG and LPG marine transportation services firm, Teekay Corporation and Teekay LNG Partners announced that COSCO Shipping Energy Transportation, a COSCO group firm…

14 Oct 2019

INSIGHTS: Michael G. Johnson

Michael G. johnson, Sea Machines CEO & President

Sea Machines Robotics CEO & President.Michael Gordon Johnson is a marine engineer, an accomplished entrepreneur and sector leader with a primary goal of building progressive and sustainable innovation for modern society. He is the founder of Sea Machines, a Boston-based tech company that is a leading provider of autonomous control and intelligent perception systems for marine vessels. Johnson earned a marine engineering degree from Texas A&M University before starting a career focused on complex projects in offshore oil and gas, marine transportation and salvage.

13 Oct 2019

Teekay Extends Hummingbird Spirit FPSO

Pic: Teekay Corporation

Teekay Corporation, a provider of crude oil and gas marine transportation services, has entered into an agreement with the Chestnut Joint Venture to extend the employment of the Hummingbird Spirit FPSO unit (Hummingbird) on the Chestnut field in the North Sea until March 2023.Chestnut is  a joint venture between Spirit Energy Ltd. and Dana Petroleum Ltd.The contract extension was done in conjunction with the Chestnut Joint Venture’s plan to drill a new well at the Chestnut field.The new Hummingbird contract took effect on October 1…

07 Oct 2019

VDRs for Inland Vessels? Does It Make Sense?

Credit: Thomas Rollins

It just might. And, you’ve got options.The Voyage Data Recorder (VDR) carriage requirements apply to all passenger ships regardless of gross tons or year of build, and to all cargo ships 3000 gross tons or larger built after 2002. A simplified VDR (S-VDR) is allowed on older ships built before 2002. The performance standard was updated in 2014. That said; a full type-approved VDR is not a requirement for inland vessels under 3,000 GT. Nevertheless, a good case to be made for installing a (less costly) data recording device on such vessels…

04 Oct 2019

Autonomous Ships Market: $134.9B by 2030

Passenger ferry Suomenlinna II, retrofitted with ABB Ability Marine Pilot Control, was remotely piloted through test area near Helsinki harbor in November 2018. Photo: ABB

The global autonomous ships industry is expected to generate $134.9 billion by 2030, witnessing a CAGR of 4.4% from 2020 to 2030.This projection is premised on an increase in demand for cargo transportation from marines and surge in operational safety of ships drive the growth of the global autonomous ships industry, according to a report published by Allied Market Research.Based on region, Europe is expected to register the largest growth rate with a CAGR of 4.9% from 2020 to 2030.

20 Sep 2019

Algoma Acquires Croatian-Built Vessel

Pic: Algoma Central Corporation

Canadaian provider of marine transportation services Algoma Central Corporation has reached an agreement with 3Maj Brodogradiliste of Croatia under which Algoma will acquire a new Equinox Class 650’ self-unloading dry-bulk carrier upon completion of the vessel by the Shipyard.The vessel, the second of two such ships that were to be built by 3Maj for the Company, is partially built and moored at the 3Maj shipyard in Rijeka. Work on the vessel was halted in 2017 when the Shipyard entered an extended period of financial difficulties.Algoma took delivery of the Algoma Innovator…

19 Sep 2019

Wartsila Wins US LNG Bunker Vessel Deal

Wärtsilä will supply its LNG Cargo Handling System for a new 5400 m3 LNG bunker barge being built in the USA. Copyright: VARD Marine.

The Finnish technology major Wärtsilä has been contracted to supply its LNG cargo handling system for a new 5400-cbm LNG bunker barge being built in the USA.The barge is being built at the Fincantieri Bay Shipbuilding yard in Wisconsin on behalf of NorthStar Midstream. It will be operated by the company’s marine transportation company Polaris New Energy (PNE)."This latest order further endorses Wärtsilä’s leading position in LNG systems for the marine sector, and its key role in supporting the growing acceptance of LNG fuel by North American owners and operators…

18 Sep 2019

Qatar, Shell Partner on LNG Bunkering

Photo: Qatar Petroleum

State-owned Qatar Petroleum and the Netherlands-based oil and gas company Shell signed a shareholder agreement to establish a joint venture for global LNG bunkering services.The agreement signed by Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B.V. paves the way for the establishment of a joint venture company owned equally by both parties, subject to customary regulatory approvals.The new company’s principal business activities will include the procurement of LNG…

18 Sep 2019

Crowley Awards Scholarships to Four Cal Maritime Students

Photo courtesy of Crowley Maritime

Crowley Maritime Corp. awarded Thomas B. Crowley Sr. Memorial Scholarships to four California State University Maritime Academy (CMA) cadets at the Containerization and Intermodal Institute’s Connie Awards last night in Long Beach, Calif.The recipients earned the scholarships based on their academic achievement, financial need and their interest in pursuing careers at sea.Spencer Hoffman, a third-year student from Loomis, Calif., is currently a junior studying marine transportation. He serves as a cadet ambassador for the academy.

29 Aug 2019

MN100: Robert Allan Ltd.

Robert Allan Ltd. CEO & President: Mike Fitzpatrick

Prominent on this year's prestigous MarineNews MN100 list is Robert Allan Ltd. Robert Allan Ltd. is a recognized world leader in innovative Naval Architecture and Marine Engineering with a particular focus on harbor and seagoing tugs, shallow draft towing vessels and fireboats for major world ports. Robert Allan Ltd. has won many awards for their design work from a variety of publications and other organizations.The Company:Robert Allan Ltd. is Canada’s most senior consulting Naval Architectural firm, established in Vancouver, B.C. in 1930.

28 Aug 2019

Haisla Nation, Seaspan ink LNG Canada Tug Deal

Front row L to R: Bart Reynolds, President Seaspan Marine, Crystal Smith, Chief Councillor Haisla Nation, Frank Butzelaar, CEO Seaspan Marine Transportation – Back row: Representatives from Seaspan, the Haisla Nation and union leadership witnessed the signing of the agreement.

HaiSea Marine, a joint venture partnership between the Haisla First Nation and Seaspan ULC, today announced the signing of a contract award with LNG Canada to design, build and operate escort tugs and harbor tugs required for LNG Canada’s LNG export facility in Kitimat, British Columbia.The value of the contract award is approximately $500 million over 12 years and will result in employment for approximately 70 mariners and six onshore staff, plus other roles for employees of the partner organizations.“HaiSea Marine is majority-owned by the Haisla…

22 Aug 2019

NorthStar Midstream Forms LNG Marine Transport Firm

Photo courtesy of Fincantieri Bay Shipbuilding

NorthStar Midstream, a portfolio company of funds managed by Oaktree Capital Management, L.P., has announced the formation of Polaris New Energy (“PNE”), a marine transportation company focused on the transportation and distribution of liquefied natural gas (LNG) along the coastal and inland waterways of the United States.NorthStar has executed an agreement with Fincantieri Bay Shipbuilding to build a 5,400 cubic meter (CBM), with the ability to potentially construct two sister barges, for coastwise transportation of LNG.

20 Aug 2019

Waterfront Adds Methanol-Fuelled Vessels

Photo: Methanex Corporation

The marine transportation company Waterfront Shipping Company has added two new innovative, clean-burning vessels, M/T Mari Couva and M/T Mari Kokako, to its fleet.Both 49,000 dwt vessels are built with the second generation of MAN B&W ME-LGIM two stroke dual-fuel engines that can run on both methanol and conventional marine fuels, said the wholly owned subsidiary of Methanex Corporation.The vessels join the seven existing methanol-fueled vessels chartered by Waterfront Shipping…

18 Aug 2019

GIS Sells MR Product Tanker Vessel

Pic: d’Amico International Shipping

Glenda International Shipping (GIS) signed a memorandum of agreement for the sale of MT Glenda Megan, a 47,147 dwt MR product tanker vessel, built in 2009 by Hyundai Mipo, South Korea, for a consideration of US$ 19.0 million.GIS is a joint venture company (JV) of the international marine transportation company operating in the product tanker d’Amico Tankers Ireland (a unit of d’Amico International Shipping S.A.) with the British–Swiss multinational commodity trading and mining company Glencore Group.According to a notification from d’Amico…

05 Aug 2019

Canada Lifts Ship Speed Restrictions

Right whale "lobtails" as researchers watch from a distance. Photo taken by Marine Environmental Observation, Prediction and Response Network (MEOPAR).

Transport Canada,  the department within the Government of Canada,  says it’s lifting speed restrictions for cargo ships in the Gulf of St. Lawrence after recent surveillance failed to detect North Atlantic right whales in shipping lanes.There weren’t any whales in the shipping lanes where speed had been reduced, Transport Canada pointed out, adding that the lower speed limit had driven cargo ships out of the lanes so they could take more direct routes through areas where the animals are known to gather.Over the past month…

25 Jul 2019

Kirby Announces 2019 Q2 Financials

File Image of a Kirby inland asset underway and working. CREDIT Kirby

Kirby Corporation (“Kirby”) (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2019 of $47.3 million, or $0.79 per share, compared with earnings of $28.6 million, or $0.48 per share, for the 2018 second quarter. Excluding a one-time charge related to the retirement of Kirby’s Executive Chairman, 2018 second quarter net earnings attributable to Kirby were $46.8 million, or $0.78 per share. Consolidated revenues for the 2019 second quarter were $771.0 million compared with $802.7 million reported for the 2018 second quarter.David Grzebinski…

23 Jul 2019

Scorpio Completes Kamsarmax Vessels Sale

Pic: Scorpio Bulkers

Monaco-headquartered Scorpio Bulkers completed the sale of the SBI Electra and SBI Flamenco last month.The provider of marine transportation for major bulks said in a press note that it agreed to sell the two 2015 Chinese built Kamsarmax vessels in March 2019, for approximately $48.0 million in aggregate.Scorpio recorded a loss of approximately $7.8 million, including the write-off of deferred financing costs, during the first half of 2019.During the second quarter of 2019, the…

17 Jul 2019

CITB Expands North Slope Operations

image credit: CITB

Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, has announced that operations on Alaska’s North Slope are officially underway for the 2019 ice-free season. Three newly acquired tugs, along with barges and shore equipment, will be operating out of Prudhoe Bay for approximately the next three months.“It is great to see these vessels on the water and ready to work,” said Jeff Johnson, President of CITB. “These shallow-draft tugs and barges…

11 Jul 2019

Belle Chasse Marine Repowers with Volvo Penta

Dillon Entrekin, port engineer at Louisiana’s Belle Chasse Marine Transportation.

Reliability, Power, Fuel Savings and Minimal Downtime Key Factors in Repower Decision.Belle Chasse Marine Transportation, the largest launch service on the Lower Mississippi, puts a lot of hours on its fleet of crew and supply boats, which run day and night. One thing they can’t afford is downtime.“The river never closes, and neither do we. Our customers expect us to give them reliable round-the-clock service no matter what the conditions,” said Dillon Entrekin, port engineer at Belle Chasse.

16 Jul 2019

Atlantic Offshore Wind: Favorable Winds for Maritime

© 3plusx/Adobe Stock

Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding, port construction, and worker training. This article reviews the key developments and forecasts the growth in maritime jobs.The federal and state governments share responsibility for developing offshore wind farms and bringing the wind into the power grid and…

Maritime Reporter Magazine Cover Oct 2019 - Marine Design Annual

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