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Media Outlet News

02 Jan 2020

SK Group Intros Bio Heavy Oil

South Korea's SK Chemicals Co has introduced a project to use bio heavy oil as vessel fuel amid rising demand for cleaner energy sources.The chemical and pharmaceutical unit under South Korean conglomerate SK Group has started safety and feasibility tests on bio heavy oil for powering large vessels like container ships, said a report in Pulse News.Bio heavy oil is environmentally-friendly fuel for power generation, made from animal fat, leftover cooking oil, and by-products of bio-diesel processing.According to the media outlet, SK Chemicals started bio heavy oil business in 2006.The company is the first in Korea to supply bio heavy oil to local power plants including state-run Korea Midland Power Co. in 2014.

05 Sep 2019

Bahamians Struggle in Dorian's Devastating Wake

A file image of Equinor's South Riding Point storage terminal (CREDIT: Equinor)

Stunned residents of the Bahamas surveyed the wreckage of their homes and officials struggled to assess the number killed by Hurricane Dorian, as the storm bore down on the South Carolina coast, threatening record flooding on Thursday.The United Nations said 70,000 people in the Bahamas needed immediate humanitarian relief after the most damaging storm ever to hit the island nation.Aerial video of the worst-hit Abaco Islands in the northern Bahamas showed widespread devastation…

11 Feb 2019

Bahri Refutes U.S. Charges on VLCC

The National Shipping Company of Saudi Arabia (Bahri) on Sunday clarified that its very large crude carrier (VLCC) tanker Abqaiq was not breaching the US sanctions on Venezuela.Earlier, the US Senator Marco Rubio accused Bahri of trying to sell diluents to the Venezuelan regime."Abqaiq is in ballast condition with no cargo onboard and on her way from the Red Sea to pick up a cargo from the Port of Jose Terminal in Venezuela for one of its regular customers in India," said a statement from the national shipping carrier of Saudi Arabia.The Saudi oil tanker has set sail free of cargo from the Red Sea. Its destination is Venezuela’s Port of Jose to load a shipment agreed on Jan. 9, 2019, prior to the imposition of sanctions on Caracas, Bahri said in a statement.The U.S.

25 Nov 2018

KOTC Orders Three LPG Tankers from Hyundai

Kuwait Oil Tanker Co. (KOTC), a subsidiary of Kuwait Petroleum Corporation, has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Industries (HHI), the South Korean shipbuilding giant.According to the government's media outlet Kuwait New Agency (KUNA), the order for very large gas carrier (VLGC) is worth KD 64.8 million (around USD 213.3 million).KUNA quoted CEO of KOTC Sheikh Talal Al-Khaled Al-Sabah as saying that the VLGC-LPG gas tankers are part of a tanker-building contract signed with HHI, which includes the building and delivery of three giant gas carriers.Each tanker can carry around 84,000 cubic meters…

07 Mar 2018

Trump's Tariff Announcement on Track for This Week

U.S. President Donald Trump (Photo: White House)

U.S. President Donald Trump's announcement on steel and aluminum tariffs is on track to come by the end of this week, White House spokeswoman Sarah Sanders told reporters on Wednesday. Trump is also seeking to sign a presidential proclamation on Thursday in an effort to set his tariff plan in motion, Axios media outlet reported separately, citing two senior administration officials.   Reporting by Susan Heavey

19 Jan 2017

COSCO 'bidding' for Orient Overseas

Chinese conglomerate Cosco Group is in talks to acquire smaller rival Hong Kong-based rival Orient Overseas Container Line Co. ( OOCL), Chinese media outlet Caixin reported quoting people familiar with the matter. The state-owned China COSCO  will compete with Evergreen Marine Corp. from Taiwan and France’s CMA-CGM SA in the takeover bid, but COSCO was more likely to win the deal, a source from COSCO told Caixin. A representative at COSCO Shipping's media relations department said the company wasn't aware of the bidding. However, the shares of OOCL surged the most in five years on Wednesday on the Hong Kong stock exchange following the reports.

18 Mar 2015

Putin Puts Northern Fleet on Full Combat Alert

Russian President Vladimir Putin put the nation’s northern fleet on full alert in the Arctic Ocean this week, as the U.S. and several Eastern European NATO countries conduct a series of military exercises near Russia's border. According to the ministry, the operational zone of Russian warships during the exercises will be expanded to several areas of the Norwegian Sea. The order issued on Monday allows for the mobilization of 38,000 military personnel, 3,360 pieces of equipment, 41 ships, 15 submarines and 110 airplanes, according to Russian Defense Minister Sergei Shoigu. This was followed by Russian President Vladimir Putin ordered to bring the country’s Northern Fleet to full alert in a snap combat readiness exercise.

02 Dec 2013

75 Abused Fishermen Abandoned and Arrested

Maritime charity, the Apostleship of the Sea has called for a major change in the way seafarers and fishermen are treated by government authorities when they are the victims of unscrupulous owners. The recent case of 75 Indonesian fishermen illustrates what the Apostleship of the Sea says is a heavy-handed and ill thought out process. Local media have reported on the slave-like conditions endured by the 75 Indonesian fishermen stranded in Cape Town harbor for the last month. Many of the crew had not been paid for two years by the Taiwanese owners and were forced to continue to work…

11 Sep 2008

Is it the Answer? Hybrid Marine Propulsion

Soaring energy costs, more stringent emission regulations and conservation efforts are current topics in every media outlet. With crude oil prices around $120 per barrel, the question arises — what should the U.S. shipbuilding industry do to address those issues to its customers? Only a few years ago, consumption and efficiency were just two of many criteria when it came to the design of a new vessel. Today, however, they have great importance when a new design is on the drawing board. Before we answer the above questions, let's define the status quo. The vast majority of vessels built worldwide are outfitted with diesel propulsion and conventional shaft line. This method of propulsion for long haul trade has been proven over many years as the most efficient and cost-optimized solution.