Petropoulos New Baltic Exchange Chair
Denis Petropoulos has been elected Chairman of the Baltic Exchange Council with effect from June 1, 2019. He replaces Duncan Dunn who has held the position since January 2018. Denis Petropoulos was a founding partner of Braemar Tankers Ltd and remains a significant shareholder at Braemar Shipping Services PLC. He most recently headed up Braemar's Singapore office for seven years, before returning to the UK.He has been a Baltic Exchange Member since 1999 and has held positions…
Offshore Wind: California's New Gold Rush
California Dreamin': In CA, offshore wind has unlimited potentialWhen it comes to States promoting renewable, non-fossil electricity generation, California surely leads the list, from utility-scale regional grids to individual rooftop solar panels.In fact, a December 2018 update from the California Energy Commission (CEC) estimates the state may already have exceeded an initial renewable generation goal of 33% by 2020. CEC estimates that in 2018 that generation number was already 34%.
IMO 2020: Total Lubmarine 'Road Show' in NYC
On Thursday, May 9, 2019, Total Lubmarine brought its "Total Global Sulfur Cap Forum" to New York City, a meeting including of Total Lubmarine business and technical executives and shipowners.The event, held aboard the historic Aircraft Carrier Intrepid Museum, gathered a full-house of local shipowners, and New York was the sixth stop on an 11 city world 'road show' of the forum to deliver insight on the soon-to-be-implemented fuel rules from the International Maritime Organization (IMO)…
U.S. seizes 'sanction buster' North Korean Ship
The United States has for the first time seized a North Korean cargo ship it accused of illicit coal shipments in violation of U.S. and United Nations sanctions, the U.S. Justice Department announced on Thursday.The ship, known as the "Wise Honest," was first detained by Indonesia in April 2018. Under an unusual U.S. civil forfeiture action, the vessel is now in the possession of the United States and is currently approaching U.S. territorial waters heading toward American Samoa, U.S. Justice Department officials said.The announcement comes after North Korea fired what appeared to be two short-range missiles on Thursday, its second such test in less than a week and an apparent protest by leader Kim Jong Un after U.S.
USCG, Partners Continue to Assess Tanker Coimbra
The U.S. Coast Guard and New York State Department of Environmental Conservation, along with contracted Resolve Marine Group, continue to assess the tanker Coimbra located approximately 30 miles southeast of Shinnecock, NY.
INLAND FINANCE: But I Don’t Need That Much
When enough to meet the need is not enough to get the help.From my office window in downtown St. Louis, I can see a dramatic illustration of the inefficiency in how our country moves freight. My office faces east, and I look down on a stretch of Interstate 70, that major east-west highway that runs from Baltimore to Interstate 15 in Utah. It is not unusual to see the traffic on this highway heavily congested, even at a standstill at times. This congested traffic usually includes many tractor-trailer trucks.
Furuno USA Hires Toma
Furuno USA has hired a new commercial business development manager. Based in Houston, Texas, Mr. George Toma will play a key role in establishing and developing business relationships with commercial ship owners, operators, and builders around the country to promote the Furuno product line.Toma comes to Furuno with forty years of experience in the maritime industry. He has served on the Board of Directors for RTCM (Radio Technical Commission for Maritimes), and received the Outstanding Professional Achievement Award in 2013 from the U.S. Merchant Marine Academy Alumni Association.
MSC Hikes Stake in Terminal Investment
MSC Mediterranean Shipping Company, the world's second-largest shipping line in terms of container vessel capacity, SA announced that it is increasing its majority stake in the container terminal operator Terminal Investment Ltd (TiL) to 60%, following a deal with Global Infrastructure Partners (GIP) and other co-investors.MSC also welcomes a new partner to the shareholding of TiL after Global Investment Corporation (GIP), a Singaporean Sovereign Wealth Fund, acquired a 10% stake in TiL from GIP and other existing co-investors.New York-based GIP…
ZEABORN Completes Acquisition of ZEAMARINE
Watson Farley & Williams advised Bremen-based ZEABORN Group on its acquisition of all outstanding shares in its joint venture ZEAMARINE from partner New Mountain Capital, New York/USA.In May 2018, ZEABORN and Intermarine, a subsidiary of New Mountain Capital, merged their multipurpose and heavylift activities into a global joint venture named ZEAMARINE with offices in Germany, the USA, Denmark, Cyprus, Japan, Belgium, Singapore, Korea, China, Malaysia and Dubai.Now, after the acquisition of all shares, ZEABORN as the sole shareholder continues to focus on its dynamic and strategic expansion.
RMG to Assess Ship Wreck Leaking Oil Off NY
The U.S. Coast Guard has contracted Resolve Marine Group to conduct a full assessment of oil remaining on the Coimbra wreck, located approximately 30 miles southeast of Shinnecock, N.Y. If substantial oil still remains, and if feasible, the Coast Guard will work with Resolve Marine Group to remove oil from the wreck in order to reduce pollution risks to the environment.The operation is scheduled to take place from April 28th to May 30th. The initial evaluation will assess the condition of the tanker and what potential environmental impact still exists. Based on the assessment, possible oil removal operations will take place.During the operation…
Alaska Ranger: “Shipwrecked in Alaska”
On the night of March 23, 2008, most of the crew sleeps while fishing vessel Alaska Ranger makes her way to the rich fishing grounds off the coast of Alaska. As the Engineer makes his nightly rounds, he discovers a serious flood in the rudder room. He raises the alarm and the captain issues a Mayday call. But before the crew can investigate the source of the leak, the rising water reaches their electrical systems and the ship loses power. With the ship listing and in danger of sinking, the captain orders the crew to abandon ship.
MPC Container Ships Gets Loan
Norwegian shipowner MPC Container Ships, which provides feeder tonnage, has entered into a USD 40 million three-year revolving credit facility agreement.The deal was signed with New York-based CIT Group at “attractive terms”, MPC Container Ships said.Drawdowns under the facility may be used toward investments, vessel upgrades or general corporate purposes, it said.Constantin Baack, CEO of MPC Container Ships, said: "We are very satisfied with the cooperation demonstrated by CIT's…
IMO 2020: Total Plans NY Event
As the IMO 2020 Global Sulfur Cap draws nearer, confusion among shipowners remains. To help inform, experts from Total Lubmarine and Total Marine Fuels Global Solutions (TMFGS) are embarked on a global conference tour, with the next event coming soon to New York City on board the USS Intrepid, which now serves as a museum and a coveted event space.Following a series of successful events in Europe during March, Total Lubmarine and Total Marine Fuels Global Solutions (TMFGS) will be visiting industry professionals in the U.S.
ONE Adds New 14,000 TEU Boxship ONE Apus
Ocean Network Express (ONE), a Japanese container shipping company that is headquartered in Tokyo and Singapore, announced that ONE APUS, with a carrying capacity of 14,000 TEU, was successfully delivered at Kure Shipyard of Japan Marine United Corporation.The sublet owner is Nippon Yusen Kaisha, said a press release from the provider of container shipping and terminal services.This is ONE’s second delivery this year, and the 6th of a series of seven newly built 14,000 TEU magenta containership…
MARAD Awards $6.7m in Marine Highway Grants
The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced $6,790,000 in grants to three Marine Highway projects. The funding, provided by MARAD’s Marine Highway Program, will go towards enhancing existing services in Louisiana and Virginia as well as supporting the development of a new project in New York.“These grants will expand the use of our country’s waterways, which are essential to our economic growth and vitality,” said U.S. Secretary of Transportation Elaine L. Chao.
Moose Boats for Rochester FD
Moose Boats won a contract from the City of Rochester, NY, Fire Department for the construction of the first M2-38 Fire Rescue Catamaran to be delivered to the Great Lakes.Twin Cummins 425hp turbo diesel propulsion engines, Twin Disc transmissions and Hamilton water-jets will power the M2-38 aluminum catamaran. Rochester Fire's new Moose Boat will be equipped with a fire pump system flowing more than 1,500 gpm of fire suppression water to cabin roof and cockpit mounted monitors while simultaneously maintaining full maneuverability from both propulsion engines and jets.
BY THE NUMBERS: Replace your Workboat Engine (now)
New Research Doubles Service Life Estimate of Marine Workboat Engines, Reveals Big Opportunities for Diesel Emissions Reductions.It turns out that commercial workboat engines are staying in service more than two times longer than predicted by the U.S. Environmental Protection Agency (EPA), according new research from the Diesel Technology Forum (DTF) and Environmental Defense Fund (EDF). That says a lot for the quality of marine engines, but at the same it isn’t necessarily a good thing.
Moose Boats wins Rochester NY FD Contract
Moose Boats, a boat designer and manufacturer in the San Francisco Bay Area, was awarded a contract from the City of Rochester, New York Fire Department for the construction of the first M2-38 Fire Rescue Catamaran to be delivered to the Great Lakes. Twin Cummins 425hp turbo diesel propulsion engines, Twin Disc transmissions and Hamilton water-jets will power the M2-38 aluminum catamaran. Rochester Fire's new Moose Boat will be equipped with a fire pump system flowing over 1,500…
A New York State of Mind
“A new industry is being established in New York, with the primary stimulus being a state-driven procurement process.”New York State Public Service Commission (PSC), July 12, 2018.To a great extent, this PSC comment provides direct insight into the dynamics behind New York’s pace-setting moves to establish offshore wind. First, this new energy development is deliberate – not left to chance or laissez faire markets. Second, state officials are in control, from choosing a contractor to securing money for payment.
ABS holds 157th Annual Meeting
The 157th Annual Meeting Hears How Safety Leadership is Driving Sustainability in Maritime. ABS held its 157th Annual Meeting on Tuesday, detailing the organization’s performance and future focus to its members. “In 2018, we delivered solid, top-tier performance. We maintained leading positions with owners and builders, held our 70-year-strong top position in the offshore market, and led the industry for safety, port state control, and the global orderbook to grow our classed fleet to 260MT,” said ABS Chairman, President and CEO Christopher J.
CSC Clarifies Continental Shelf Beyond Bouvet
The extent of the continental shelf beyond 200 nautical miles outside Bouvet Island has now been clarified with the Continental Shelf Commission (CSC) in New York.The Commission’s recommendation is in line with Norway’s proposal submitted to the Commission in 2009 and revised in 2015.According to a press note from Norwegian Petroleum Directorate (NPD), the Ministry of Foreign Affairs led the work on the shelf proposal.NPD, which is the State’s authority charged with geotechnical mapping of the continental shelf…
U.S. LNG Shipments Fall to Six-Month Nadir
U.S. shipments of liquefied natural gas are expected to fall to their lowest level in six months in April, after a leading U.S. supplier shut units for maintenance at a time when a glut of supply has driven some worldwide prices to near three-year lows.Based on exports through April 10, the United States is on track to sell roughly 91.5 billion cubic feet per day (bcfd) of natural gas as LNG, which would be the lowest since October. That compares with an estimated record 139.8 bcfd shipped in March…
Maryland Act Boosts Offshore Wind Market
Maryland state lawmakers have passed the Clean Energy Jobs Act (CEJA) of 2019, which would incentivize the development of 1.2 GW of additional offshore wind energy off the coast of Maryland.US Wind Country Manager Salvo Vitale testified last month before the Senate Finance Committee and House Economic Matters Committee urging passage of the legislation while citing the significant economic benefits that the legislation would make possible by incentivizing the development of 1…