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.
Maritime Professional Q4 Edition Available
Wind Assist Technology: Pipe Dream or Reality? Barry Parker examines wind assisted propulsion in commercial ships. LNG Impacts Ship Design: The use of LNG as a marine fuel is changing ship and boat design. Maritime Recruitment: The Shipyard Roundtable: Leading shipyard recruiters weigh in on trends in U.S. shipyard recruitment.
Second 'Chunnel' Not Likely
A motorway under the sea between Britain and France was mooted last week in a study issued by Eurotunnel Plc on a second cross-channel link. Almost 200 years after a Channel road link was first presented to Napoleon by French engineer Albert Mathieu, Eurotunnel's study envisages cars zooming along a four-lane highway. But with the existing rail tunnel struggling to make money, a new one may never happen. Millions of passengers, cars and trucks have sped underwater since Britain's Queen Elizabeth and President Francois Mitterrand opened the Channel Tunnel in 1994. By launching a road link, Eurotunnel could cut car journey times by half, analysts said. Under its original concession agreement, Channel Tunnel operator Eurotunnel had until 2000 to submit a study for a second road link.
Nicaragua Atlantic-to-Pacific Canal: Big Chinese Money?
In Nicaragua, a Chinese company is busy building what will become one of the world’s largest transoceanic canals. One of the largest engineering projects in history - They call it the Grand Inter-Oceanic Canal. Engineers say it will surpass the nearby Panama Canal in size and capacity. The canal would be three times as long as Panama’s and able to accommodate larger ships for the world’s cargo traffic. The new project is the largest in Latin America in 100 years. The $50 billion pharaonic project by a Chinese billionaire…
Viega: Maintaining the Flow
Viega Group has a history spanning more than 115 years and today is more than 4,000 employees worldwide, a leading manufacturers of pipe installation technology for shipbuilding, industrial, commercial and residential projects. In the U.S., Viega LLC employs nearly 500 people and offers more than 3,000 products, including Viega ProPress for copper and stainless, Viega MegaPress for black iron pipe and Viega PEX Press systems in Zero Lead bronze and high-performance polymer. While the company serves many markets…
Majestic Fast Ferry Launches Between Singapore and Indonesia
Majestic Fast Ferry’s newest ferry, the Majestic Dream, set sail on a maiden voyage from Singapore Cruise Centre’s (SCC) HarbourFront terminal. The 11th vessel in Majestic Fast Ferry’s fleet will ply the operator’s existing routes between Singapore and the Riau Islands in Indonesia. It will serve passengers travelling to and from SCC’s HarbourFront and Tanah Merah Ferry Terminal in Singapore, Batam Center and Sekupang terminals in Batam as well as Tanjung Pinang in Bintan. The ferry was designed by Australian naval architect and engineering service firm Incat Crowther.
Genting Dream Christened in China
Dream Cruises, the first-ever Asian luxury cruise line, claimed its place in history here today when Genting Dream’s official Godmother, Puan Sri Cecilia Lim, the wife of Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer of Genting Hong Kong christened its maiden luxury cruise ship, spectacular Genting Dream, before an assembly of prominent officials from the Chinese government as well as top executives from trade and industry. Genting Dream's arrival also marked the first time a luxury cruise ship of this scale has home-ported in Guangzhou (Nansha).
Genting Dream to Homeport in Singapore
Asian luxury cruise line Dream Cruises said it will homeport its inaugural vessel, Genting Dream, year-round in Singapore from December 3, 2017. Christened in November 2017, Genting Dream currently sails from Hong Kong or Guangzhou. With the move, the 151,300-metric-ton cruise ship will tap new markets, calling at more than 10 ports in Singapore, Malaysia, Indonesia, Thailand and Vietnam. Significant growth in the Asian cruise industry over the recent years has presented new opportunities for the region, and Dream Cruises said it aims to be a pacesetter in Singapore.
Richardson Devine Launch Super Dream
Incat Crowther announced the launch of Super Dream, a 32m Catamaran Passenger Ferry for Ishigaki Dream Tours. Recently launched by Richardson Devine Marine, Super Dream is the second Incat Crowther/RDM vessel for the operator following on from Premium Dream, launched in 2008. Incat Crowther said the Super Dream demonstrates its commitment to constant evolution by being a modern interpretation of the previous vessel. Improvements on Premium Dream include the addition of Incat Crowther’s latest hull form and a sleek, single passenger deck superstructure, resulting in a more efficient vessel.
W&O Realizes SeaCor Pipe-dream
W&O designated preferred North American distributor of first United States Coast Guard-approved marine plastic piping system. W&O, a global supplier of marine pipe, valves and fittings, valve automation, and engineered solutions, has partnered with Georg Fischer Piping Systems to bring to market the first and only commercially available United States Coast Guard-approved marine plastic piping system in the world, known as SeaCor. SeaCor is the only thermoplastic piping system that meets the IMO and USCG requirements for flame spread, low smoke and toxicity. It also carries Type Approval from the American Bureau of Shipping (ABS). As the preferred distributor in North America, W&O will bring SeaCor to the commercial marine, military, and upstream oil and gas industries.
Kra Canal to Remain Pipe Dream
The revival of the idea of building the Kra Canal through Thailand to enable shipping to bypass the narrow Straits of Malacca has been in the news recently. The plan would be to build a 750 mile (1,200Km) canal at an estimated cost of $28 billion, which would provide greater support to current supply chain. The notion of creating a new sea lane that slashes shipping times between the Andaman Sea in the Indian Ocean and South China Sea in the Pacific Ocean has never lost its powerful magnetism.
Pirated MV Samho Dream Released
On 6 November 2010, the Marshall Islands-flagged MV Samho Dream was released from under pirate control. The MV Samho Dream, a Marshall Islands-owned crude oil tanker, deadweight 319,360 tonnes, was pirated on 4 April 2010 approximately 600 nautical miles off the Somali coast. The MV Samho Dream has a crew of 24, of which 19 Filipinos and 5 South Koreans.
New Orleans’ Largest Cruise Ship Prepares for Departure
The Port of New Orleans announced that arrival of its largest cruise ship, the 3,646-passenger Carnival Dream, to launch year-round Caribbean service. Carnival Dream’s New Orleans debut will be commemorated with a traditional maritime plaque exchange between Carnival and Port of New Orleans officials. Carnival Dream builds upon Carnival’s position as New Orleans’ number one cruise operator with two year-round ships carrying more than 400,000 passengers annually. The 1,004-foot-long Carnival Dream offers a host of on-board innovations…
Schwarze-Robitec Expands in USA
The tube bending machine manufacturer Schwarze-Robitec is expanding its branch office in the USA. The North American service and distribution team moves to Grand Rapids. Mich. In addition to its new premises, Schwarze-Robitec operates a spare parts warehouse for its high-quality bending machines. Customers in the U.S., Canada and Mexico benefit now from faster delivery times as well as first-class services. Due to the continuing increase of customers, Schwarze-Robitec moves into an office and a warehouse space in Michigan only two years after the opening of the US office.
MSC Alexandra, VLCC Dream Collided in Singapore Strait
The Maritime and Port Authority of Singapore says it was notified just before midnight yesterday (Aug 4) of a collision involving Dream II VLCC (Very Large Crude Carrier) and MSC Alexandra (Container Ship) in the Singapore Strait, about 3 km South-East of Sebarok Island. Both are Panama-flagged vessels. Prior to the incident, MPA's Port Operations Control Centre provided traffic information and alerted the shipmasters of Dream II and MSC Alexandra of the risk of collision. Dream II sustained damage to her bow whilst MSC Alexandra sustained damages on her port quarter hull.
New Orleans' Biggest Cruise Ship Departs on Inaugural Voyage
New Orleans’ largest year-round cruise ship, the 3,646- passenger 'Carnival Dream', has sailed on its inaugural 6-day cruise from New Orleans. The Port explains that Carnival is the port’s largest cruise operator with two ships carrying more than 400,000 passengers annually – the most of any cruise line. The special six-day voyage, visiting Costa Maya, Mahogany Bay (Isla Roatan), and Cozumel, left from the newly refurbished Erato Street Cruise Terminal, which has undergone a $2.3 million upgrade to accommodate a ship as large as the 130,000-gt Carnival Dream.
Incat Crowther to Design 'Super Dream' Catamaran
Incat Crowther contracted to design a 32m catamaran ferry for Ishigaki Dream Tours. Super Dream will be built by Richardson Devine Marine and will be the second Incat Crowther/RDM vessel for the operator, after 2008’s Premium Dream. Super Dream will be powered by a pair of Caterpillar C32 ACERT main engines, which will drive a pair of NICO island-mounted gearboxes. Propulsion will be by 5-bladed fixed-pitch propellers. The vessel will have a service speed of 30knots, with a maximum speed of 32 knots.
Meyer Werft Delivers Disney Dream
Disney Cruise Line took possession of its newest ship – Disney Dream – from the Meyer Werft shipyard in a traditional maritime ceremony aboard the ship in Bremerhaven, Germany. The Meyer Werft flag was lowered, while the Disney Cruise Line flag was raised, transferring ownership from the shipbuilder to Disney. The milestone closes the book on the ship’s construction journey, which began nearly two years ago in Papenburg, Germany, and signals its readiness to welcome guests on its maiden voyage, set for Jan. 26, 2011, from Port Canaveral, Florida.
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…
Volvo Penta Engines for New Whale Watching Vessel
Pacific Power Group (PPG) is powering a new custom-built vessel for whale watching with Volvo Penta engines, engine monitoring and throttle controls that will improve the experience for Prince of Whales passengers. PPG’s marine team is powering the Salish Sea Dream with four Volvo Penta D13-700 Inboard turbo diesel engines that will each supply 700 HP at 2,300 RPM, providing faster acceleration and better ability to maintain high top speed. This allows Prince of Whales to offer passengers greater whale watching experiences, additional viewing opportunities and extended tours.
Incat Crowther Delivers Passenger Ferry to Honduras
Incat Crowther has announced the delivery of Utila Dream, a 244-passenger 30m Catamaran Passenger Ferry, built by Midship Marine in Louisiana. Utila Dream was recently delivered on its own bottom to Honduras where she has commenced operation between the island of Utila and the mainland city of La Ceiba, a journey of approximately 21 miles. Designed specifically for rough water operation, Utila Dream heralds a new era of ferry service for the island, being larger, faster and far more capable than previous operations.
GOST Donates EZ-Tracker for 'Impossible Dream'
GOST (Global Ocean Security Technologies), celebrating its 10th year as a world leader in marine security, tracking, monitoring and video surveillance systems, announced today that it has donated a GOST EZ-Tracker to provide location information as part of the refit of the universally accessible 60-foot sailing catamaran, Impossible Dream. The Impossible Dream is fully operational by a person in a wheelchair. She was designed by Nic Bailey and built by Multimarine Manufacturing of Cornwall, UK.
Wärtsilä Funa Creates Speical Look for Genting Dream
Wärtsilä is supplying a special external lighting system for a new cruise ship currently under construction at the Meyer Werft shipyard in Papenburg, Germany. The 150,000 GRT vessel, the "Genting Dream", has been ordered by Dream Cruises, part of Genting Hong Kong, a global leisure company, based in Asia. The ship will be delivered in October. The order with Wärtsilä was placed in the first quarter of 2016. The Dynamic Exterior Lighting concept developed by Project International Lighting Designers provides a stunning visual effect to the ship's exterior profile.