Grimaldi Christens Grande New York
The Grande New York, part of the new fleet of the Grimaldi Group, was christened in the Port of NY-NJ at Port Newark Auto Marine Terminal (FAPS). Godmother was Amanda Matilda Cuomo Cole, granddaughter of former late NY Governor, Mario Cuomo and niece of current NY Governor Andrew Cuomo. Father Peter Haldás of St. John Paul II blessed the ship during a short ceremony to a distinguished delegation composed of maritime authorities, customers, port operators and managers of Grimaldi Group and daughter company Atlantic Container Line.
Cheniere Mulls Third Liquefaction Train at Corpus Christi
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc said it planned to make a final investment decision to build the third liquefaction train at its Corpus Christi LNG export facility in Texas in the first half of 2018:Cheniere said on Friday its Cheniere Corpus Christi Holdings LLC subsidiary engaged financial institutions to arrange up to $6.4 billion of credit facilities. The unit already has about $4.6 billion of existing credit facilities.Cheniere said it will use the credit facilities to fund a portion of the costs of developing…
EU Suspects Tax Fraud at China's New Gateway to Europe
European Union and Italian authorities are investigating suspected wide-scale tax fraud by Chinese criminal gangs importing goods via Greece’s largest port of Piraeus, a trade gateway between China and Europe, officials said.“The VAT is completely evaded, with enormous damage to the national tax authorities and to the community,” Fabio Botto, of the Italian Central Anti-fraud Office’s special investigative unit, said in an interview.He said the suspected scam at Piraeus, part of China’s vast Belt and Road infrastructure project…
Georgia Ports' Box Volume Jumps 14%
The Georgia Ports Authority achieved 14 percent growth in March container volumes, moving 355,208 Twenty-foot Equivalent Unit containers. For the fiscal year to date (July-March), TEU container trade grew by 9 percent, or 255,786 additional units for a total of 3.08 million, a new record for Savannah. "Savannah's continued strength is a reflection of our customers' commitment, Georgia's leadership, and the many dedicated service providers, GPA employees and ILA members who come together every day to achieve great things," said GPA Executive Director Griff Lynch.
Navios Buoyed by JPMorgan Duble Upgrade
First Cove Point LNG Lifting Departs Maryland
The first contractual liquefied natural gas (LNG) cargo from Dominion Energy Inc's newly constructed Cove Point LNG export plant in Maryland in the United States left the facility on Monday, Thomson Reuters Eikon ship tracking data showed. The cargo is expected to act as a drag on spot LNG prices <LNG-AS> as it coincides with the resumption of exports of the fuel from the Papua New Guinea LNG plant, which had been shut following a powerful earthquake. The 160,000-cubic metre LNG tanker Adam LNG left Cove Point on Monday with a draft of 91 percent, suggesting it was full, according to the data.
MOL Accepts "Great Ship of the Year" Award
Maritime Reporter & Engineering New’s Great Ship of 2017 Award was presented to Mr. Yoshikazu Kawagoe, Chief Technical Officer, Mitsui O.S.K. Lines in MOL’s headquarters in Tokyo. A full report on the world’s 3rd largest shipowner will publish soon in the pages of MR. Mitsui O.S.K. Lines, Ltd. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery of MOL FSRU Challenger the…
Liebherr: Purely Electrical Portal Crane
The new LPS 420 E is the latest extension of the Liebherr mobile harbour crane product range. The newly designed machine is a purely electric driven portal crane. All crane movements like luffing, hoisting, slewing and travelling are done by electric motors. As the LPS 420 E is a member of the LHM series, it is also characterised by high modularity. Therefore, it is a universal all-rounder and a key asset for handling every type of cargo, from containers to bulk, general cargo and heavy lifts up to 124 t.
GE Profit Tops Estimates
General Electric Co posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher. GE affirmed its forecast for 2018 earnings and cash flow, and said it expects to book as much as $10 billion in proceeds from divesting industrial assets this year. Those comments eased concern that GE would post poor results. GE's profit reflected 7-percent revenue growth and vigorous cost cutting. Revenue rose in aviation, oil-and-gas and healthcare, offsetting declines in power, transportation, lighting and renewable energy. GE sliced $1 billion in costs, including $800 million in industrial structural costs.
Harry S. Truman Carrier Strike Group Departs on Deployment
The Harry S. Truman Carrier Strike Group (HSTCSG) departed Naval Station Norfolk, April 11, for a regularly scheduled deployment. The strike group, including aircraft carrier USS Harry S. Truman (CVN 75), Carrier Air Wing (CVW) 1, USS Normandy (CG 60), several destroyers of Destroyer Squadron (DESRON) 28 and German frigate FGS Hessen (F 221), is scheduled to conduct operations in the U.S. Navy's 5th and 6th Fleet areas of responsibility. The deployment is part of an ongoing rotation of U.S. forces supporting maritime security operations in international waters around the globe.
Damen Shipping Multiple Pontoons to Rotterdam
The SAL Heavy Lift vessel MV Lone loaded onboard a newly built batch of eleven Damen flat top Pontoons in Shanghai. MV Lone is bringing the pontoons to the Netherlands. The majority of the pontoons will be available quickly to Damen’s clients from stock. Two of the pontoons have been sold already to a client in the Netherlands. The pontoons have diverse applications in civil construction projects, fish farms, heavy lift, dredging and renewable energy operations amongst other things.
K Line Accepts Great Ships of 2017 Award
At the Sea Japan exhibition in Tokyo, Toyohisa Nakano, (right) Executive Officer, K Line, accepts a "Great Ship of 2017" award from Maritime Reporter & Engineering News Editor and Associate Publisher Greg Trauthwein. Maritime Reporter & Engineering News is the world's largest circulation b2b publication serving the global maritime industry, and each year it confers its "Great Ship" award to more than a dozen global ship and boat owners. K Line (Kawasaki Kisen Kaisha) was honored for its 7…
Exmar Avoids Loss by Selling Vessels
Belgian shipowner Exmar reported a $28 million net profit for the year 2017, on IFRS, compared to $40.4 million in 2016. The Nicolas Savery-led shipowner said that despite the drop, the result has been positively impacted by the sales of vessels including FSRU’s Excelerate, Explorer and Express that have been sold to their charterer, Excelerate Energy. On the FSRU (Floating Storage and Regasification Units) market, several projects have suffered delays or cancelled. There has been one long-term contract awarded for an FSRU in 2017 worldwide and it was to EXMAR.
New DOP Dredger Series from Damen
Damen Dredging Equipment has launched a new DOP Dredger Series following the success of the DOP submersible dredge pump, which has proved its versatility across the globe. Damen has built more than 20 DOP dredgers on a one-off basis and at least 380 DOP pumps. The DOP submersible dredge pump has been such a great success over the last 25 years because of its simple concept, which is based on a well-proven dredge pump, directly driven by a hydraulic or electric motor, assembled in a rigid housing with the ability to attach all kinds of specialised suction devices…
Power Dynamics Innovations to Supply Centerboard System
Power Dynamics Innovations LLC, Stennis Space Center, Mississippi has been awarded by Gulf Island Shipyards LLC, the subcontract for the design, engineering, construction, installation, and testing of the Centerboard System for Oregon State University (OSU)'s Regional Class Research Vessel (RCRV). Gulf Island Shipyards LLC received a contract from Oregon State University for the construction of a Regional Class Research Vessel (RCRV) with an option for two additional vessels.
Sustainable Carrier Transicold PrimeLINE Units
The PrimeLINE unit from Carrier Transicold has achieved a new distinction in sustainability, becoming the first container refrigeration system with a UL Environment validation for recyclability. As validated by UL Environment using its Environmental Claims Validation Procedure 2789, the PrimeLINE unit is 93 percent recyclable. Carrier Transicold helps improve global transport and shipping temperature control with a complete line of equipment for refrigerated trucks, trailers and containers, and is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX).
Carrier Transicold’s 700,000th Refer Unit
Carrier Transicold’s Container Products Group recently achieved production of its 700,000th container refrigeration unit. Carrier Transicold is a part of Carrier Corp., a business unit of United Technologies Corp. (NYSE: UTX). Since shipping its first container refrigeration unit in 1968, Carrier has provided refrigeration units to nearly every shipping line, container-leasing company and major global produce shipper in the world. Maersk Line, was the recipient of the 700,000th unit…
MOL to Open New Business units
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Juinchiro Ikeda) today announced plans to establish two new business units — the Dry Bulk Business Unit and the Energy Transport Business Unit and restructure its dry bulk business divisions — effective April 1, 2016. The restructuring will not affect the company’s disclosure of financial results by segment. 1. MOL will restructure the dry bulk business divisions and establish the Dry Bulker Business Unit to most effectively implement business structural reforms to optimize the fleet portfolio and make more efficient use of management resources.
DESMI Ocean Guard Completes Land Testing
DESMI Ocean Guard A/S has announced that all the required land-based testing of the CompactClean Ballast Water Management System has been successfully completed. The testing was performed in accordance with both International Maritime Organization (IMO) and U.S. Coast Guard (USCG) requirements and paves the way for the issue of both IMO and USCG type approval certificates later this year. DESMI Ocean Guard’s CompactClean Ballast Water Management System (BWMS) has now successfully completed all the land-based testing required by both IMO and USCG.
Sinanju Orders Singapore's 1st Dual-Fuel Bunker Tanker
Singapore-based Sinanju Tankers Holdings has ordered what it says will be Singapore's first dual-fuel bunker tanker, to be powered mainly by liquefied natural gas (LNG).
Ship of the Year: MOL FSRU Challenger
MOL FSRU Challenger is Maritime Reporter & Engineering News' Great Ships of 2017. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery of MOL FSRU Challenger the world largest floating storage and regasification unit (called FSRU Max vessel) from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co., Ltd. The state-of-the art FSRU Max vessel has a variety of valued functions…
Teekay Offshore Raises Distribution; Completes FSO Acquisition
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO) announced that its general partner has increased its quarterly cash distribution by $0.035 per unit, from $0.35 per unit to $0.385 per unit ($1.54 annualized) as a result of the previously announced acquisition of the shuttle tankers Navion Bergen and Navion Gothenburg. The cash distribution will be paid on November 14, 2007, to all unitholders of record on November 7, 2007. In addition, the Partnership announced that is has completed the acquisition of a Floating Storage and Offtake unit (FSO), the Dampier Spirit, for a total cost of approximately $30.3m from Teekay Corporation (Teekay), the parent of its general partner.
Teekay Announces Pricing of Initial Public Offering
Teekay Offshore Partners L.P. announced that it has priced its initial public offering of 7,000,000 of its common units at $21.00 per unit. The 7,000,000 common units represent a 35.0% limited partner interest in the master limited partnership and the offering will increase to 8,050,000 common units if the underwriters exercise in full their over-allotment option. Teekay Shipping Corporation owns the remaining interests in the partnership, including common units, subordinated units, incentive distribution rights and its 2% general partner interest. Citigroup Corporate and Investment Banking and Merrill Lynch & Co. acted as joint book-running managers and representatives of the underwriters, which include Morgan Stanley, A.G.