Marine Link
Friday, February 23, 2018

Market Vectors Steel News

Too Few Ships Drives Bid Prices for Cargo

The world's fleets of cargo ships are aging, and demand for commodities is surging. That means the cost of shipping will go up, pushing up prices and crimping supply. The top performing ETF year to date is Market Vectors Steel SLX, which has returned 72.65%. Other ETFs with big gains were iShares Dow Jones (NYSE:DJ) U.S. Oil Equipment IEZ, iShares S&P Global Materials Sector Index Fund, MXI and WisdomTree Basic Materials DBN. The iShares ETFs returned 41.60% and WisdomTree Basic Materials returned 38.43% year to date. The price of oil was a big factor for the iShares ETF, and that price in part reflects the cost of transport, just as with many other commodities. Shipping costs are measured by the Baltic Exchange Dry Index, an indicator of prices for transporting freight.

Freudenberg acquires Vector Technology Group

Freudenberg Oil & Gas expands its position and expertise in the upstream segment of the oil and gas market with innovator in offshore sealing solutions. Freudenberg Oil & Gas announced that on January 11, 2013, 100% of the shares of Vector Technology Group, a major global supplier of high integrity sealing solutions for the oil and gas industry, were acquired by parent company Freudenberg Group, headquartered in Weinheim, Germany. The shares were acquired from the private equity firm HitecVision headquartered in Stavanger, Norway.

Vector and MPS to Provide Joint Delivery of ISPS Services

The services start with practical security consultancy from which MPS develop the company specific ISPS documentation and manuals. The manuals are developed within the Vector ISM Manager software which has been expanded to suit the requirements of ISPS. The system allows manuals to be comprised of documents that are ship specific, apply to groups of ships or to the fleet and manages the distribution to the vessels with a complete audit trail of sending and acknowledged receipt on board. However the system is much more than the documentation. MPS also specify the appropriate check lists and reporting to be carried out within the Vector Management System thereby ensuring that once implemented the ships security system is actively used and the results reported ashore.

DSME Selects NAPA Steel to Transform Ship Design Processes

Center: Ilmo Kuutti, President of NAPA Group (left) shakes hands with Kwan-Won Sohn, Head of Ship Business Unit at DSME after signing the contract in Geoje on February 6, 2018 (Photo: NAPA)

Maritime software, services and data analysis provider NAPA has announced that shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has selected 3D model-based NAPA Steel software to streamline design processes and meet the needs of 21st century naval architects and structure designers. DSME chose NAPA Steel thanks to its transformative effect on the ship design process, following an extensive benchmarking process involving multiple vendors. DSME will use the software at both the initial design stages…

Marine GAS CAM Boat Engine to Be Demonstrated in Dubai

confidentiality and non disclosure agreements. technology to the GCC market. and negotiations continue about a possible further increase in this figure. this engine are.

Vector Maritime Announce Satcom Partnership Agreements

Vector Maritime Services has signed a partnership agreement with France Telecom for the provision of all Inmarsat Services including Inmarsat A, B, C, mM and Fleet. “We selected France Telecom because of their reputation for quality and working with their partners to provide the best customer service” said Paul Ashton. At the same time Vector have announced a partnership agreement with Broadband Maritime for the provision of VSAT services to ships. Broadband Maritime provide a global VSAT service for a low all-inclusive flat rate per month. Vector are also pleased to welcome Claire Mercer as Director of Airtime Sales, responsible for both Inmarsat and VSAT services. Claire’s career includes Nera and Marconi was previously with Xantic as Airtime Sales Manager.

Ports of Indiana: Building on Success

(Photo: Ports of Indiana)

The Ports of Indiana is a statewide port authority, established in 1963, which operates three ports: two on the Ohio River, one on Lake Michigan. Port officials refer to the three as “America’s Premier Inland Port System.” They cite location, location, location, providing access via two critical freight arteries – the Great Lakes and the Inland Waterway System and proximity to the world’s most productive industrial and agricultural regions. The Ports is the only statewide port authority in the Midwest.

World’s First LNG-fueled Bulk Carrier Delivered

Photo: Lloyd's Register

Hyundai Mipo Dockyard (HMD) and ILSHIN LOGISTICS delivered the world’s first LNG-fueled bulk carrier under the dual-class of Lloyd’s Register (LR) and Korean Register. The 50,000 dwt bulk carrier has also been verified to be in compliance with the International Gas Fuel (IGF) Code. The vessel is the result of a collaboration project, announced in July 2016, to develop the first in a new generation of environmentally-friendly LNG-fueled bulk carriers. The ship has a Type ‘C’ LNG fuel tank with a capacity of 500m³, made of austenitic high manganese steel and located on the aft mooring deck.

China, not Trump, Drives U.S. Coal Revival

A typical coal cargo underway on the inland rivers (CREDIT: Inland Marine)

If China does seek a way to retaliate against U.S. proposals to impose import curbs on steel and aluminium, then targeting President Donald Trump's favoured coal would be tempting. One of Trump's key campaign promises in the 2016 election victory was to end the war on what he termed "beautiful, clean" coal. Figures released last week by the U.S. Energy Information Administration (EIA) suggest he has met with some success. U.S. coal output surged the most in 16 years to reach 773 million short tonnes, equivalent to about 701 million metric tonnes, in 2017, the EIA said on Feb. 16.

Transas Forms New Hydrographic Team

A new team has been elected to focus on Hydrographic Office (HO) Issues on behalf of TM Ltd. Headed by Vladimir Vaigachev, who is also responsible for all in-house production of vector electronic charts in the Transas proprietary TX-97 format, the new structure is a formidable step for the company, who continues to provides the chart data required to support marketing activities of products through many of the world's Hydrographic offices.

Baltic Index Posts First Gain in Seven Sessions

© NS Photography / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the first time in seven sessions on Tuesday, following a rebound in capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, edged up 13 points, or 1.2 percent, to 1,095 points. The capesize index snapped its five-session losing streak and climbed 86 points, or 6 percent, to 1,519 points. It touched its lowest in more than six months on Monday.

Transas Electronic Charts Approved by HDNO

The Head Department of Navigation and Oceanography (HDNO) of the Russian Federation has recognized Transas vector charts in the TX-97 format for use in remote areas of the World Ocean, as per Notices to Mariners issue 32/2003 *5093/3 of August 2003. According to the HDNO recommendation, the usage of the Transas world TX-97 database with updated paper charts will improve safety of navigation. After a close verification procedure, the expert commission has confirmed that Transas vector digitized electronic charts represent a high-quality product fully compliant with all the related international standards and regulations, including the ISO: 9000 quality system. The in-house production of vector electronic charts is an important area of Transas activities.

Furuno Named NMEA "Manufacturer of the Year"

Furuno has once again received the lion’s share of awards at the prestigious 2011 National Marine Electronics Association (NMEA) Convention in Sanibel, FL. This brings Furuno’s NMEA Award total to an incredible 201 awards since NMEA started presenting awards in 1971. A total of ten NMEA Awards were presented this year and Furuno received half of the awards issued. For the sixth consecutive year, Furuno received the coveted Manufacturer of the Year - Support award. In fact, Furuno is the sole recipient of this award since its introduction on the ballot 6 years ago. “Customer service to both our technical marine electronics dealer network and our end-users has always been the number one goal at Furuno USA.

Fugawi Debuts Quilted Charts

Fugawi

Industry leading online chart service Fugawi X-Traverse, announced today that in coordination with GPSNavXTM and its app, iNavX, the availability of quilted raster charts for the navigation app’s most recent version. One of the most established marine navigation apps on the Apple iOS platform, iNavX brings the latest marine navigation features to iPhone and iPad users. In an exciting revision of the top-selling app, iNavX adds greater functionality to its already robust feature set.

NavPlay Debuts App for American Boaters

iPad apps designed for American boaters. NavPlay

NavPlay, an innovative manufacturer of iPad apps for boaters, announced today its release of a new app designed specifically for American boaters – NavPlay US. Offering downloadable access to detailed NOAA vector maps, NMEA 2000 compatibility and WiFi-integration with onboard navigation and safety technologies, NavPlay US provides the tools needed to manage all aspect of yachting, right from an iPad, anywhere on a vessel. A powerful, robust and easy-to-use navigation app, NavPlay US allows boaters to download, plan routes and navigate using NOAA vector charts from Aqua Map.

Vector Signs Exclusive Medical Contract

Hutton's has signed an exclusive contract to supply medical equipment and to provide annual survey services for Vector Offshore Limited. Vector's fleet of offshore support vessels operates out of Aberdeen and each uniquely carries two Autonomous Rescue and Recovery Craft (ARRC) which are capable of operating on their own, putting the company at the cutting edge of rescue and recovery in the North Sea. Hutton's will deliver directly to the vessels as needed on a seven-day a week, 24hours a day basis as required.

MJP Waterjets Debuts New Line

MJP introduced in 2005 a new product line called DRB. The first model MJP 450 DRB is installed in the first AB 88, built at AB Yacht in Italy. Carrying impressive 3 x 1500 kW the over 50-ton vessel is capable of speeds over 60 knots running on all three engines. Operation with two engines is possible at maximum power, giving ship speed of 48 knots and thus proving the MJP Waterjet pump’s excellent performance and cavitation margin. The jet is equipped with a Double Reverse Bucket in short DRB with inboard hydraulics and is built on a glass fibre intake. The all stainless steel jet pump, steering and reversing unit offers superior strength and corrosion resistance compared to its aluminium competitors. The DRB product is offered with a control system with normal throttle and steering wheel.

JRC ECDIS Models Update with Admiralty Info. Overlay

A software update now makes the Admiralty Information overlay available on all current JRC ECDIS models. The Admiralty Information Overlay, a free service to Admiralty Vector Chart Service customers, is a simple way to view the most comprehensive and up-to-date chart information when navigating with electronic navigational charts (ENCs). The Overlay is the only service available to include worldwide Admiralty Temporary and Preliminary Notices to Mariners and new ENC Preliminary Notices to Mariners, which identify navigationally significant differences between ENCs and Admiralty paper charts. Mariners the world over rely on Admiralty updates to help them navigate safely, via the weekly ‘Notices to Mariners’ publication, which is used to manually update paper charts.

CSI-made MX 575 is Type-Approved as DGPS for SOLAS

Brunswick Corporation. MX 535 Transponder -- with all three linked to a junction box. Hemisphere GPS division. carriage requirements, according to standards established by the IMO. half-meter long, together with CSI's MBL-3 beacon antenna. Marine for some time. Trinity Solution. Hemisphere GPS has been producing for MX since 2003. customers include the U.S. Coast Guard. Hemisphere GPS President Rick Heiniger. be called the next wave in navigation," said MX Marine President Greg Konig. corrections. global customer base that includes both the U.S. and Canadian Coast Guards. multipath-resistant antennas in a single enclosure a half meter long. unexpected DGPS signal outages. multipath-resistant antennas in two separate enclosures. accuracy. being much more affordable.

NOAA Adds Vector Charts in Agreement with Maptech

The National Oceanic and Atmospheric Administration (NOAA) and Maptech, Inc. have successfully negotiated an expansion of their existing Cooperative Research and Development Agreement to include a new and advanced generation of vector electronic navigational charts (ENC). Under the expanded agreement, NOAA will produce highly accurate and up-to-date ENC "data" for the major U.S. ports. This data, and already available raster data, will be the foundation for a new chart product for the marine industry. Maptech will enhance and repackage the NOAA data into ENC chart "products" designed to meet the specific needs for commercial and recreational marine customers. The ENC products will be distributed in the S-57 format established by the International Hydrographic Organization.

NOAA Adds Vector Charts in Agreement with Maptech

The National Oceanic and Atmospheric Administration (NOAA) and Maptech, Inc. have successfully negotiated an expansion of their existing Cooperative Research and Development Agreement to include a new and advanced generation of vector electronic navigational charts (ENC). Under the expanded agreement, NOAA will produce highly accurate and up-to-date ENC "data" for the major U.S. ports. This data, and already available raster data, will be the foundation for a new chart product for the marine industry. Maptech will enhance and repackage the NOAA data into ENC chart "products" designed to meet the specific needs for commercial and recreational marine customers. The ENC products will be distributed in the S-57 format established by the International Hydrographic Organization.

C-Map Wins NMEA Product Excellence Award

C-MAP won the National Marine Electronics Association Award for best vector charts for the third straight year. C-MAP was also honored by the NMEA in 1994 and 1995 for a total of five awards in eight years. Ken Cirillo, vice president and general manager for C-MAP U.S.A. accepted this year’s award at the 2001 NMEA convention, which was recently held in Sanibel, Fla. Winners in various product categories from around the world are selected by a cross section of the marine electronics industry, including dealers, manufacturer’s reps and certified marine electronics technicians. C-MAPNT vector-based charts provide electronic charting for a variety of applications, such as sailing, bluewater sport fishing, commercial fishing, even cruising inland lakes and waterways.

Navig8 Chemical Tankers Still in Red

Photo: Navig8 Chemical Tankers Inc.

Despite a shift in demand in the chemical shipping sector, Navig8 Chemical Tankers ended the fourth quarter ended 31st December, 2017 with a widened net loss of USD 3.7mln. Revenue for 4Q17 was $43.3 mill, compared to $33.9 mill for 4Q16. “The chemical tanker market began to show signs of improvement in the fourth quarter led by stronger demand in the chemical sector and tightening in the MR product tanker market,” said CEO Nicolas Busch. “With our fleet fully delivered, we are…

Maritime Reporter Magazine Cover Feb 2018 - Cruise Ship Annual

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