Marine Link
Thursday, May 25, 2017

U.S. Freight Recovery Spurs Diesel Demand

File Image: CREDIT AEP

U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018. The tonnage of freight moved by road, rail, barge, pipeline and air cargo has been increasing year on year since October, after stagnating for much of 2015/16 (http://tmsnrt.rs/2qSDLAJ). Freight movements hit a new record in February, before slipping slightly in March, according to the U.S. Bureau of Transportation Statistics (http://tmsnrt.rs/2rTVx58). Most freight is hauled by equipment that uses diesel engines, or jet turbines in the case of air cargo.

Meyer Werft Lays Keel of Norwegian Bliss

Norwegian Cruise Line president and CEO Andy Stuart and MEYER WERFT managing partner Tim Meyer at the keel laying for Norwegian Bliss. (Photo: NCL

A keel laying ceremony was held for Norwegian Cruise Line’s (NCL) new cruise ship Norwegian Bliss at the shipbuilder Meyer Werft’s facility in Papenburg, Germany. During the ceremony, one of the keel blocks of the 167,800 gross ton vessel was lifted into the covered building hall, signifying a major milestone in the ship’s construction. NCL president and CEO Andy Stuart laid the traditional coin, etched with the outline of the ship’s signature hull designed by wildlife artist Wyland, before the block was lowered into place.

Stolt-Nielsen Orders Small LNG Carriers

Stolt-Nielsen Limited subsidiary Stolt-Nielsen Gas B.V. (SNG) has contracted with Keppel Singmarine for the construction of two 7,500 cbm liquefied natural gas (LNG) carriers, with options to purchase three additional similar ships. The ships are to be built at Keppel Singmarine's shipyard in Nantong, China, with deliveries scheduled in the second and third quarter of 2019 respectively. The contract for the initial two ships is valued at approximately $80 million, including site-team costs and capitalized interest during construction. The ships will be capable of operating on either diesel fuel or LNG, with a class notation and technical capability for STS (ship-to-ship) bunkering, thus significantly enhancing their versatility.

Hapag Lloyd Completes Merger with UASC

File photo: Hapag-Lloyd

German shipping line Hapag Lloyd and Arab sector peer UASC have completed a delayed merger which creates the world's fifth-biggest shipping company. The German company said on Wednesday that the deal to combine the two businesses, announced in April 2016 and sealed in July last year, has closed and been listed in commercial registers as of May 24, including a capital increase of 45.9 million euros. Qatar Investment Authority, through Qatar Holding, now holds 14.4 percent of Hapag Lloyd…

Keppel to Build Additional Dredgers for Jan De Nul

Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Codralux S.A., a wholly-owned subsidiary of Jan De Nul Group, to build two Trailing Suction Hopper Dredgers (TSHDs). The dredgers are valued at approximately $120 million, including owner-furnished equipment. Keppel Singmarine is currently building three dredgers for Jan De Nul Group, based on contracts that were secured in July 2016. The first of the two dredgers for this new order is expected to be completed in 2H 2019. Construction of the second dredger will require Codralux S.A to exercise the option within six months from now.

NYC's New Ferries Take to the Water

Photo: Incat Crowther

The first vessel in the new NYC Ferry’s fleet has been christened Lunch Box, following a naming competition held amongst New York school students. Lunch Box, which has already been followed by a subsequent pair of vessel in New York, is the first vessel in a fleet of 26m catamaran ferries commissioned by Hornblower Cruises to form NYC Ferries, a government initiative to bring an affordable, city-wide ferry network to the Big Apple. Over the coming year, the fleet will grow to some 20 vessels and the network will grow to six routes.

Skangas Names LNG Bunker Supply Ship Coralius

Photo: Skangas

Coralius, the first European built LNG bunker and distribution vessel was named Monday, May 22, by Johanna Lamminen, Chair of the Board of Skangas and Chief Executive Officer of Gasum. The 5,800 cbm vessel was commissioned by owners Anthony Veder and Sirius Shipping in 2015 and was built by Royal Bodewes. This new vessel will offer LNG bunkering services for Skangas, a subsidiary of Gasum, mainly operating in the North Sea, the Skagerak area and the Baltic Sea. With this new bunker feeder, LNG as a marine fuel will become more accessible for the Scandinavian region.

GE Completes HAZID Meetings for World’s First LPG-Fueled Ferry

Photo: GE's Marine Solutions

GE’s Marine Solutions reports that the world’s first Liquid Propane Gas (LPG)-fueled ferry design to use GE’s COmbined Gas turbine Electric and Steam (COGES) system has successfully completed Hazard Identification (HAZID) meetings. The consortium of Youngsung Global, DINTEC, Korea LPG Industry Association, GE’s Marine Solutions and Far East Ship Design & Engineering Co. (FESDEC) signed a multilateral memorandum of understanding in November 2016 to cooperate on this unique ferry design.

MOL to Build Japan's First LNG-Fueled Tugboat

Image: Mitsui O.S.K. Lines

Mitsui O.S.K. Lines (MOL) has announced the company's decision to build an LNG-fueled tugboat. The new tugboat, the first LNG-fueled tug in Japan, will conform to the IGF code issued in January of this year and is subject to be examined by Japan's Ministry of Land, Infrastructure, Transport and Tourism. MOL will own the tugboat, slated for construction at Kanagawa Dockyard. Yanmar Co will supply LNG-fueled engines. Osaka Gas will supply LNG fuel to the tugboat. Nihon Tug-Boat will operate the tugboat. The new tugboat will be deployed in Osaka Bay in April 2019.

Gondan Delivers Dual Fuel Tug

Photo: Gondan

After completing its sea trials program, DUX, the first dual fuel tug ever built in Europe, was delivered yesterday to its owner, the Norwegian company Østensjø Rederi A/S. This vessel is the first tugboat of a series of three. Designed by the Canadian company Robert Allan Ltd., the new escort tug, with 40.2 meters length and 16 meters beam, will provide tug services to Norwegian state-owned energy company Statoil, at the far-north terminal located at Melkøya under severe weather conditions.

Baltic Index Falls to Lowest Since Early March

© Volodymyr Kyrylyuk / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Thursday fell to its lowest since early March as demand slowed across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1.71 percent, at 918 points. The capesize index lost 59 points, or 3.57 percent, at 1,595 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargo such as iron ore and coal, were down $427 to $11,750.

Southern Illinois Transfer Orders Harbor Tug

Photo courtesy of Twin Disc

Barbour JB Shipyard of St. Louis has laid the keel for a new harbor tug that will be powered by Veth Z-drives. The purchase agreement was signed at the Inland Marine Expo, St. Louis, by Kurt Johnson, Southern Illinois Transfer president and owner of the vessel; Guido Davids, Veth Propulsion area sales manager; and Tim Batten, Twin Disc director of global marine sales. Twin Disc is the distributor for Veth Propulsion in the US, exclusive of the Gulf Coast region. The tug has a planned length of 68' and beam of 28'. It will be powered by twin 750 hp Cummins diesels and Veth VZ-700 Z-drives.

Patrol Boats Delivered to the Vietnam Coast Guard

US Ambassador Ted Osius, fourth from left, inspects new Metal Shark patrol boats with Vietnam Coast Guard members during a delivery ceremony Monday May 22, 2017 in Quang Nam, central Vietnam (Photos courtesy US Embassy Hanoi)

Six new military patrol boats built by Louisiana-based shipbuilder Metal Shark have been delivered to the Vietnam Coast Guard. The welded-aluminum Metal Shark 45-foot Defiant pilothouse patrol vessels were provided to Vietnam by the United States in a move that underscores the increased security cooperation between the two nations. The vessels were officially handed over by U.S. Ambassador Ted Osius to the Vietnam Coast Guard on Monday in the province of Quang Nam. The new patrol boats will be employed by the Vietnam Coast Guard on law enforcement missions focused on smuggling…

Wärtsilä Wins Contract for New CLdN RoRos

Wärtsilä will supply controllable pitch propellers and shaft generator systems for two new RoRo vessels being built for CLdN Ro-Ro SA. (Photo: CLdN Ro-Ro SA)

Wärtsilä said it has been awarded a contract to supply controllable pitch propellers and power take off / power take home (PTO/PTH) shaft generator systems for two new RoRo vessels being built at the Uljanik shipyard in Croatia. The ships have been ordered by the Luxembourg based operator, CLdN Ro-Ro SA. There is an option for an additional two vessels. Wärtsilä, which booked its orders in December 2016 and February 2017, will supply the vessels with its latest design, WCP G-hub, optimized for high power density.

Bollinger Wins SCA Safety Award

Bollinger president and CEO Ben Bordelon (center) accepting the award from SCA president Matthew Paxton (left) and SCA chairman Richard McCreary (right). (Photo: Bollinger)

Bollinger Shipyards was presented the 2016 “Award for Excellence in Safety” for the 12th consecutive year by the Shipbuilders Council of America (SCA) on May 18, 2017 during SCA’s Annual General Membership Meeting in Washington, D.C. This award is given to member companies with the lowest total recordable incident rates (TRIR) based on a quarterly injury and illness survey conducted by the Association. On winning the award, Ben Bordelon, Bollinger’s president and CEO said, “Bollinger Shipyards has earned the SCA Award for Excellence in Safety for the 12th consecutive year.

Norwegians to Finance Vessel Retrofits

Olav Einar Rygg, Export Credit Norway’s director of lending for the ocean industries (Photo: Export Credit Norway)

Following the International Maritime Organization (IMO) ratifications of the ballast water and exhaust gas treaties, government-owned Export Credit Norway offers financing to international vessel owners who purchase retrofit equipment from Norwegian suppliers. The Norwegian export credit agency Export Credit Norway has assembled a specialized team and tailor-made financing solution to support vessel owners who need to retrofit equipment such as gas exhaust cleaning systems, ballast water treatment systems and new coating systems.

New Orleans Joins Cold Treatment Pilot Program

Photo courtesy of Port of New Orleans

The Port of New Orleans announced a new opportunity for shippers looking to transport perishable cargo from South America. Port NOLA received approval by the U.S. Department of Agriculture for inclusion in the Southeast U.S. In-Transit Cold Treatment Pilot Program. Participation in the Animal and Plant Health Inspection Services (APHIS) pilot program means select time-sensitive products can be treated to meet customs compliance in-transit rather than after it arrives to the U.S. – resulting in shorter transit times and increased efficiency for shippers.

Weak Demand Drags Down Baltic Index

© sergeevspb / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell to its lowest in nearly three months on Wednesday on weaker demand across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 15 points, or 1.58 percent, at 934 points - its lowest level since early March. The capesize index lost 52 points, or 3.05 percent, at 1,654 points. Average daily earnings for capesizes…

MAN Rollo Supplies Engines for Hybrid Patrol Boat

Photo courtesy of MAN Rollo

In April this year, MAN Rollo supplied two engines for the RPA8 hybrid patrol boat, which Kooiman Shipyard was commissioned to build by the Port of Rotterdam Authority. When putting out a tender for the patrol boat, the Port of Rotterdam Authority defined a number of principles, including the cost of ownership, emission reduction and minimising wave generation. The tender also specified that the innovative patrol boat would be equipped with a hybrid propulsion system combining diesel electric and diesel direct power…

Nor-Lines, Rolls-Royce Sign Service Agreement

Photos courtesy of Rolls-Royce

Nor Lines and Rolls-Royce have signed a “Power-by-the-Hour” service agreement for the two vessels Kvitbjørn and Kvitnos. The new service offering harnesses the power of “big data” to monitor, plan and perform maintenance and repairs on all the equipment it has installed on the cargo vessels. Power-by-the-Hour is a completely new service from Rolls-Royce Marine, and the agreement with Nor Lines is the first of its kind. The service builds Rolls-Royce’s many years of experience with equipment monitoring, proactive servicing and available solutions in the aerospace market.

CMA CGM, Hamburg Sud Launch Americas Service

Map: CMA CGM

French container shipping company CMA CGM announced the launch of its new service between the west coast of the United States, Central America and South America, to be operated in collaboration with the German shipping company Hamburg Sud. Starting May 24, CMA CGM will offer a weekly service with coverage to/from the west coast of the United States, Central America and South America, enabling the agri-food industry in Central and South America to export to North American markets.

Coldharbour, Hansun Ink China Distribution Deal

From right to left: Andrew Marshall, CEO Coldharbour Marine Ltd (seated) and Graham Cole CBE, Chairman, Coldharbour Marine Ltd (standing). On the left, Jason Lee, General Manager, Hansun (Shanghai) Marine Technology (seated) and Simon Gu, Chairman, Hansun (Shanghai) Marine Technology (Photo: Coldharbour Marine)

Coldharbour Marine, developer of a unique in-tank, in-voyage and inert gas-based ballast water treatment system for large tankers, bulkers and LNG vessels, has signed an agreement with Hansun (Shanghai) Marine Technology Co Ltd covering the marketing and distribution of Coldharbour products in mainland China. The contract, finalized at a recent ceremony in Shanghai, is part of the companies’ joint preparations for the IMO’s Ballast Water Convention which enters into force on September 8 this year.

Weaker Vessel Rates Weigh on Baltic Index

© fresh_water / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the seventh session on Tuesday, weighed down by falling rates for most vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell to its lowest since early March. The index was down 5 points, or 0.52 percent, at 949 points. The panamax index was down four points, or 0.47 percent, at 850 points. Average daily earnings for panamaxes…

Kalmar Delivers RTGs to Evergreen

Pic: Kalmar

Kalmar, part of Cargotec, has successfully delivered five rubber-tyred gantry (RTG) cranes to Evergreen International Storage & Transport Corporation in Taiwan. The cranes will be used in Taoyuan Inland Container Terminal and Hsichih Inland Container Terminal. Evergreen International Storage & Transport Corporation offers inland container terminal services to customers all over Taiwan, including lifting operations and control of inbound and outbound containers; container repairing and cleaning service; and warehousing in the distribution center.

Samsung Heavy Bags Order for 2 LNG Carriers

Photo: Samsung Heavy Industries

South Korea’s Samsung Heavy Industries (SHI) has won a $100 million order to build two liquefied natural gas (LNG) carriers for Korea Line, reports Yohnap. Korea Gas Corp. (KOGAS) has chartered Korea Line to transport LNG from Tongyeong, South Gyeongsang Province (mainland) to Jeju Island for 20 years. Under the deal with Korea Line, SHI will build the ships by December 2019, the company said. One of the two vessels would have LNG bunkering capability. The ships, which can carry up to 7,500 cubic meters of LNG each, will be deployed to transport LNG between local ports, it added.

Panama Frees Vessel Held in Western Sahara Claim

Panama authorities have released a Moroccan phosphate shipment from the disputed Western Sahara territory after it was temporarily held by a legal challenge from the Polisario independence movement, officials said on Monday. The vessel was held on May 18 and is the second tanker carrying phosphate cargo from Moroccan exporter OCP stopped this month by a Polisario challenge. Polisario claims the cargo was transported illegally, a new tactic in its dispute with Morocco. Western Sahara has been disputed since 1975, when Morocco claimed it as part of the kingdom and the Polisario fought a guerrilla war for the Sahrawi people's independence. A 1991 ceasefire split the region in two between what Morocco calls its southern provinces and an area controlled by Polisario.

Future USS Omaha Passes Acceptance Trials

File photo: USS Tulsa (LCS 16) is heading back to Austal USA after launching from the drydock at BAE Ship Systems in March 2016. She's passing Austal's vessel completion yard where USNS Yuma (EPF 8), USS Gabrielle Giffords (LCS 10) and future USS Omaha (LCS 12) are docked. (Photo: Austal USA)

The future USS Omaha (LCS 12) has completed its final significant milestone before delivery to the U.S. Navy, having passed its acceptance trials May 12 after completing a series of graded in-port and underway demonstrations for the Navy's Board of Inspection and Survey (INSURV). During the trial, the Navy demonstrated the performance of the propulsion plant, ship handling and auxiliary systems via a series of comprehensive tests. While underway, Omaha performed launch and recovery operations of the 11-meter rigid-hull inflatable boat…

Shipbuilders Council Names McCreary Chairman

From left to right: SCA President Matthew Paxton with Rep. Hunter and newly-elected Chairman, Richard McCreary (Photo: SCA)

Shipbuilders Council of America  names Richard McCreary as new chairman; honors Sen. Cochran and Rep. At its annual spring meeting in Washington, D.C. this week, the Shipbuilders Council of America (SCA), the national trade association representing the U.S. shipyard industry, named Richard McCreary of BAE Systems as the new chairman of the association. Additionally, SCA honored Sen. Thad Cochran (R-Miss.) and Rep. Duncan Hunter (R-Calif.) as recipients of its Maritime Leadership Award, recognizing the two for their demonstrated dedication and support of the U.S.

MTU Propulsion for High-speed Ferry

Photo: MTU

Rolls-Royce said it will supply four 20-cylinder Series 8000 engines from MTU to Australian shipyard Incat Tasmania. The engines will be installed in the new high-speed RoPax ferry to be used by the Virtu Ferries company on the Malta-Sicily service that it operates daily throughout the year. Set to be the largest high-speed catamaran operating in the Mediterranean, the vessel is 110 m in length and can accommodate 900 passengers plus crew and 167 vehicles on 490 truck lane meters.

Sentinel Takes Delivery of New Rescue Vessel

Mariner Sentinel (Photo: Sentinel Marine)

Aberdeen-headquartered Sentinel Marine said it has taken delivery of a new emergency response and rescue vessel (ERRV) which will see 24 new jobs being created within its North Sea operation. Sentinel Marine, which owns and operates offshore support vessels for the oil and gas industry, has secured a contract for the Mariner Sentinel with a major producer for its North Sea oil field. Following construction in China, the vessel is en route to Aberdeen and is expected to commence operating in July 2017. Mariner Sentinel is the latest of six new build for Sentinel Marine since 2015.

Jinhui Shipping Sees Bumpy Road to Recovery

Oslo-listed dry bulker Jinhui Shipping sees a bumpy road ahead despite signs of a recovery in the dry bulk market. The road to recovery will be challenging and the market will remain volatile, vice president Raymond Ching told the Q1 conference call on Monday. "To be honest it's very hard to pin down what will happen, this industry has been characterized by high volatility," Ching said. Q1 net loss $8 mln includes a non-cash impairment on disposed vessels of $6 million vs net loss of $18 mln in Q1 2016. Q1 average daily timecharter $5,925 per vessel vs $2,934 in Q1 2016. Jinhui Shipping owns two modern post-panamaxes of size of 93,000 dwt…

Solstad CSV Serviced ahead of Australian Deployment

Normand Reach (Photo: Gibdock)

Gibraltar shipyard Gibdock said a surge in offshore vessel repair and maintenance work has included a special project for Norwegian offshore vessel owner and operator Solstad, to ensure that Normand Reach meets the hull cleanliness standards set by Australia’s National Biofouling Management Guidelines for commercial vessels. The 120.85-meter-long Solstad CSV entered the yard for a special wash and brush up on its way to Western Australia, where it has been reported as due to enter charter in the coming weeks to work in the Ichthys gas field development project.

Weaker Panamax Rates Weigh on Baltic Index

File photo: Star Bulk

The Baltic Exchange's main sea freight index fell slightly on Monday, as sliding panamax rates offset gains in capesize earnings. The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down for the sixth straight session. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 2 points, or 0.21 percent, at 954 points - its lowest since early March. The panamax index slipped for the eight straight session, down 16 points, or 1.84 percent, to 854 points.

COSCO (Dalian) Shipyard Delivers Flag Lama

Photo: COSCO (Dalian) Shipyard

 COSCO (Dalian) Shipyard Co has delivered an bulk carrier, “FLAG LAMA”, to its European buyer, the company said in its press release.    The delivery documents were signed by and between COSCO Dalian and the buyer recently.     The bulk carrier measures 229 meters in LOA (length  of all), 32.26 meters in breadth and 20.05  meters in depth.   COSCO (Dalian) Shipyard is one of the core subsidiary enterprises of COSCO Shipyard Group. Its main business is ship and offshore repairing, conversion and new building.  

COSCO Singapore Wins FSRU Deal

Photo: Cosco Shipyard

Cosco (Qidong) Shipyard Co, a subsidiary of Cosco Corp's 51 per cent subsidiary Cosco Shipyard Group Co, has entered into an agreement with a European buyer for the construction of the floating storage regasification unit (FSRU) module. Cosco Corp did not identify the European buyer. COSCO Qidong and the European buyer have agreed to keep the contract prices confidential. Delivery of the module is scheduled for the first quarter of 2018. A press statement from the company said that brring any unforeseen circumstances…

Maritime Expert Hails NIMASA for Removing Wrecks

Pic: The Nigerian Maritime Administration and Safety Agency

The reported wrecks removal initiative by the Nigerian Maritime Administration and Safety Agency (NIMASA) has received wide commendations from industry player and Stakeholder in the maritime sector, Dr. Chris Asoluka. Speaking in Lagos recently, Dr. Asoluka, a former Chairman of Oil and Gas Free Zone Authority (OGFZA), noted that the efforts of the Dr. Dakuku Peterside led Management of NIMASA to reposition the maritime sector is a development long overdue. He was of the view that the Agency’s initiative which is reported to have commenced should be pursued vigorously…

Diana Shipping Adds m/v Astarte

Photo: Diana Shipping Inc

Diana Shipping, a company specializing in the ownership of dry bulk vessels, has announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Astarte (formerly “Seatrust”). Astarte  is a 2013 built Kamsarmax dry bulk vessel of 81,513 dwt that the Company entered into an agreement to purchase in April 2017. Including the newly delivered m/v Astarte, Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 4 Post-Panamax, 5 Kamsarmax and 23 Panamax).

Innovative Subsea Crane Ordered for RSV Conversion

Image: Rolls-Royce

Brazilian ship owning company CBO’s vessel CBO Manoella is currently being retrofitted from an offshore platform supply vessel (PSV) into a ROV Support Vessel (RSV). As part of the conversion project, CBO has assigned Rolls-Royce to equip the vessel with a new patented hybrid dual draglink (DDC) subsea crane, marking the first installation of a subsea crane designed to be able to use either fiber or steel wire rope. Marcelo Martins, CBO, Technical Director said, “This is one of two vessels CBO is now retrofitting from PSVs to RSVs…

Fincantieri Buys Majority Stake in STX France

File Photo: STX France

Italian shipbuilding company Fincantieri S.p.A. said it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France shipyard from its current shareholder STX Europe AS. The agreement entails a purchase price of €79.5 million ($89 million). Fincantieri continues to negotiate with the French State for the finalization of the shareholders’ agreement for STX France in accordance with the Heads of Terms signed on April 12. Based in Saint-Nazaire…

San Francisco’s New Ferry Enters Service

Photo: Incat Crowther

Hydrus, the first in a series of new 400-passenger catamaran ferries for the Water and Emergency Transportation Authority (WETA) in San Francisco, has entered service. Designed by Incat Crowther and built by Vigor in Seattle, Hydrus is the first of this new class of vessel with additional ferries to follow. “In the spring of 2015, Vigor began construction on the first of two WETA ferries in this class,” said Tim Kolb, General Manager of Vigor Ballard. “It’s an efficient design and very environmentally friendly”.

CMA CGM Posts Higher Q1 Profits

Photo courtesy of CMA GCM

Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump. The French-based group reported on Friday a first-quarter net profit, including Singapore-based NOL which it consolidated in June last year, of $86 million compared with a $100 million loss in the same period of 2016. This was also above the…

RV Sally Ride Enters Dry Dock for Maintenance

Photo courtesy of Bay Ship and Yacht

The Sally Ride, a Neil Armstrong Class Auxiliary General Oceanographic Research (AGOR) vessel, dry docked at Bay Ship and Yacht on April 15, 2017, to carry out modifications to superstructure and to perform general vessel maintenance. Named for the late astronaut Sally Ride, the ship is 238 feet long and incorporates the latest technologies, including high-efficiency diesel engines, emissions controls for stack gases, and new information technology tools both for monitoring shipboard systems and for communicating with the world.

Baltic Index Inches Down

File photo: NORDEN

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged lower on Friday on weaker rates for smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down one point at 956 points. The capesize index rose 30 points, or 1.8 percent, to 1,668 points. Daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $221 at $12,239. Capesize rates were supported by hopes that steel demand in top consumer China would remain strong.

Safe Bulkers Expands Fleet

Photo: Safe Bulkers, Inc.

Safe Bulkers, in its Q1 financial results annoucements said that with the latest addition of Pedhoulas Rose, its fleet has increased to 38 dry bulk vessels. In January 2017, the company took delivery of Pedhoulas Rose (Hull No. 1146), a 82,000 dwt, newbuild Kamsarmax class vessel. Also in January, Safe Bulkers took delivery of Hull No. 1551, a 81,600 dwt, newbuild Kamsarmax class vessel which was subsequently sold to chief executive officer and chairman, Polys Hajioannou. As of May 12…

Ex-HMAS Sydney Retires to Western Australia

Ex-HMAS Sydney has left Sydney Harbour on 18 May 2017 to be towed to Western Australia for recycling by Australian company Birdon. Photo: LEUT Chris Boardman, Royal Australian Navy

Ex-HMAS Sydney has left Sydney Harbour to be towed to Western Australia for recycling, says Minister for Defence Personnel Media Release. Minister for Defence Personnel Dan Tehan said the frigate will be recycled by Australian company Birdon Pty Ltd. “Ex-HMAS Sydney had an illustrious career during her 32 years in service with the Royal Australian Navy,” Mr Tehan said. “The Adelaide class frigate was involved in operations spanning the Middle East, East Timor, Fiji and the Solomon Islands and earned a Meritorious Unit Citation during the First Gulf War in 1991.

Death Toll On The Rise at Chittagong Shipbreaking Yards

Photo Courtesy: NGO Shipbreaking Platform – Hanjin Rome beached in Chittagong, Bangladesh

Two workers lost their lives at the Chittagong shipbreaking yards in the last two weeks, bringing the total death toll this year to six workers, reports NGO Shipbreaking Platform. On 6 May, 26-year-old Shahinoor died at Jamuna Shipbreaking yard. He fell from a great height when he was breaking the Hanjin Rome, which was the first vessel arrested after the collapse of one of the largest container ship companies last year – the Korean company Hanjin Shipping. The Hanjin Rome was put up for auction by the High Court in Singapore to be sold to the highest bidder early this year.

Baltic Exchange Names Sykes Chief Commercial Officer

The Baltic Exchange has appointed a new chief commercial officer; Janet Sykes, former head of communications at shipping services provider Clarksons Platou, will join the Baltic Exchange on July 3. Sykes worked at Clarksons Platou between 2010 and 2017 where she was responsible for all internal and external communication and marketing. She was previously head of marketing at the Baltic Exchange (2001-2010) and has previously worked as shipbroker at Howe Robinson (1991-2000). Baltic Exchange chief executive, Mark Jackson, said, “We're delighted that Janet Sykes will be joining the team. She has global shipping experience with a strong focus on the derivative markets and data products.

New Fast Displacement Yacht is First with Hybrid Propulsion

Photo: Heesen Yachts

A new motoryacht built by built by the Netherlands’ Heesen Yachts is the world’s first Fast Displacement equipped with hybrid propulsion. Christened M/Y Home, the vessel is ultra-efficient, low fuel-burning and one of the quietest on the oceans. There are two sources of power for propulsion: diesel mechanical and diesel electrical. Either source can be used independently or simultaneously, providing less noise and vibration, more flexible power management and increased efficiency.

Hapag-UASC Tie-up Nears Completion

Photo: Hapag-Lloyd

German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters. The deal to create the world's fifth-biggest shipping company, valued at about 7 billion to 8 billion euros ($7.8-$8.9 billion), had been scheduled to complete at the end of last year. It would give Hapag Lloyd access to bigger ships on the major Asia to Europe trade route.

Baltic Index Slides for 4th Straight Day

© jcfmorata / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight session on Thursday, pressured by lower panamax vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 3 points, or 0.3 percent, at 957 points. The panamax index dropped 31 points, or 3.4 percent, to 894 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $253 to $7,192.

Keppel on Track to Deliver Rig for Caspian Drilling

Photo credit: Keppel Offshore & Marine

Keppel Offshore & Marine Ltd (Keppel O&M) through its subsidiary in Azerbaijan, Caspian Shipyard Company (CSC), is on track to deliver a semisubmersible drilling rig to Caspian Drilling Company Ltd, a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR). The rig was named Heydar Aliyev at a ceremony in Azerbaijan today by the President of Azerbaijan, Ilham Aliyev. Built to Keppel FELS' proprietary DSSTM 38M design, the rig has been customized for the Caspian Sea's harsh environment condition. It is the first modern semisubmersible to be almost completely built in Azerbaijan.

Germany Halts Planned Warship Purchase

Germany's federal cartel office upheld on Thursday a complaint brought by German Naval Yards against an order from the defence ministry for five new military corvettes valued at over 1.5 billion euros, after the ministry skipped an open procurement.   The ministry had argued that the quickest way to meet the navy's urgent military needs in the Baltic and Mediterranean seas would be to buy more of the ships already produced by a consortium including Luerssen Werft and ThyseenKrupp.   However, the cartel office agreed with German Naval Yards that the need for competition took priority, confirming reports on Wednesday by two German newspapers.   An appeal may be lodged within two weeks. (Reporting by Anneli Palmen; Writing by Madeline Chambers, Editing by Thomas Escritt)

Australia Announces Naval Shipbuilding Plan

File photo: Royal Australian Navy

The Australian government announced a $89 billion (US$66.2 billion) naval shipbuilding plan, based mostly in Adelaide. The program will produce 12 submarines, nine frigates and 12 offshore patrol vessels for the Australian navy as well as 19 Pacific patrol boats to be given to neighboring countries. AFP quoted Prime Minister Malcolm Turnbull saying that the largest peacetime naval investment package - first flagged in 2015 to replace its ageing fleets - would boost local industry, with up to 5,000 jobs created in shipbuilding directly and double that in the supply chain.

EU Ship Owners Set Brexit Wish List

Photo: European Community Shipowners’ Associations (ECSA)

European ship owners have published their priorities when it comes to Brexit negotiations outcome. The shipping community embodies a fundamental acquis of the EU: free movement of goods and persons. European Community Shipowners’ Associations (ECSA) believes that the current operating climate should be preserved as much as possible even after the Brexit. “European ship owners strongly believe that to the extent possible, EU and UK should aim for conformity in legislation relating to maritime affairs,” said ECSA Secretary General Patrick Verhoeven.

Pak Shipbreaking Yards in Dire State

Pic: NGO Shipbreaking Platform

The conditions at the shipbreaking yards in Pakistan are extremely dire, says the annual report by NGO Shipbreaking Platform. As in India and Bangladesh, the yards in Gadani operate directly on the beach without any impermeable and drained working areas protecti ng the sea and sand from pollution. As there is no infrastructure to deal with hazardous wastes in Gadani, dangerous and polluti ng substances such as asbestos, PCBs and residue oils are simply dumped behind the shipbreaking area.

Oldendorff Taps Verifavia for EU MRV Compliance

Photo: Oldendorff Carriers

Dry bulk vessel owner and operator Oldendorff Carriers said it has appointed emissions verification company Verifavia to verify its fleet of vessels in line with the European Union’s new environmental Monitoring, Reporting and Verification (EU MRV) regulation. Verifavia will ensure that all Oldendorff vessels are in compliance with the new requirements mandated by the EU MRV regulation coming into force in August 2017. As a first step towardscutting greenhouse gas emissions from maritime transport…

Harvey Gulf Grows Fleet, Inks Long-term Contracts

Image: Harvey Gulf

As vessel many vessel operators are stacking vessels and reducing fleet size, Harvey Gulf International Marine said it has signed four non-cancelable, long-term contracts for stacked vessels and has taken delivery of two new vessels, as well as redelivery of a vessel reconfigured for subsea services. Harvey Gulf announced the signing of long term contracts for the MPSV Harvey Intervention, 175' FSV Harvey Hustler, 180' FSV Harvey Runner and 220' FSV Harvey Express. These charters…

Lloyd's Register: Maritime Grows in the Americas

Mark Darley (Photo: Lloyd's Register)

As the global maritime market remains mired in a slump, Lloyd’s Register continues to expand rapidly in the Americas market where it sees green fields of opportunity. Mark Darley, President—Americas Marine for LR, recently sat with Maritime Reporter & Engineering News to explain the strategy to conduct business over a broader range of segments and services and grow LR’s presence in the Americas. Mark Darley, President—Americas Marine for Lloyd’s Register is an industry veteran with nearly two decades of maritime experience under his belt…

In Demand: Hoegh LNG’s Sveinung Stoehle

The business model: Hoegh LNG president and CEO, Sveinung Støhle. Photo: handout

Satisfied with the recent opening of a new floating LNG import terminal in Turkey plus contract successes in Africa and Asia, Hoegh LNG CEO and president, Sveinung Stoehle, cautiously lets us into his stylish Oslo offices for a bit of “disclosure”. The Hoegh business model is winning out, and now six floating storage and regasification units, or FSRUs, are in operation with four newbuilds on the way. The terminal in Turkey was built in just six months: “It would be years, not months, for a land-based gas terminal,” Stohle asserts.

Hendry Marine Launches Business Development Team

Kristen Chittenden (Photo: Hendry Marine Industries)

U.S. tug-barge shipyard Hendry Marine Industries, Inc., (HMI) has launched a new business development team, with Kristen Chittenden appointed Director of Business Development, and Eric Smith named VP & Chief Commercial Officer. Chittenden and Smith will work closely with Hendry Marine’s CEO and president, Jim Long, the executive leadership team and its various subsidiaries to set company strategy and develop new business opportunities. Chittenden has served as Associate General Counsel for Hendry Marine for the past three years…

Wärtsilä Scrubbers for Korean Ferry Newbuild

The new Korean ferry being built at the Hyundai Mipo Dockyard will be equipped with a Wärtsilä exhaust gas cleaning system. (Photo: Wärtsilä)

Wärtsilä said it has been contracted to supply its exhaust gas cleaning system for a new Korean ferry being built for Weidong Ferry at the Hyundai Mipo Dockyard. The system will consist of two 13 MW Open Loop V-SOx Scrubbers specifically optimized for the new vessel, a 31,000 gross tonnage RoPax ferry to be operated by Weidong Ferry between Korea and China. The contract with Wärtsilä, which was booked in January 2017, will see the first Wärtsilä scrubber system installed where the shipyard, the owners and the vessel's operational area are all in Korea.

North Korea Launches Ferry Service to Russia

Vladivostok, Russia (© vesta48 / Adobe Stock)

North Korea launched a ferry service to the Russian city of Vladivostok on Wednesday to develop links and boost economic cooperation, the North's state media said, as it faces increasing isolation over its weapons development. Experts have said North Korea's leader, Kim Jong Un, may be hoping closer ties with Russia would help if China, the North's main economic benefactor, steps up sanctions against it over its weapons programmes, in defiance of U.N. resolutions. Russian President Vladimir Putin said on Monday that while Moscow was opposed to any new countries acquiring nuclear weapons…

Unithai to Operate Largest Floating Dock in Thailand

Photo: Unithai Shipyard

Thailand’s Unithai Shipyard and Engineering Limited continues to develop the shipyard’s capacity and capabilities in ship repair services in response to client needs. Unithai Shipyard awarded a contract to China’s Huarun Dadong Dockyard to build a floating dock 984 feet in length and 170 feet wide with a lifting capacity of 48,000 metric tons, making it the largest dock ever seen in Thailand. “This new floating dock will increase Unithai Shipyard’s capacity and capabilities to accommodate Aframax and Post-Panamax vessels of up to 170…

Damen's First 'Renewables Service Vessel' Launched

Voe Vanguard, the first vessel of Damen’s RSV 3315 series (Photo: Damen)

Damen has launched the first of a new vessel type, the Renewables Service Vessel (RSV) 3315, which has been developed in close cooperation with Scottish company Delta Marine. The first in the new series was officially christened Voe Vanguard at Damen Shipyards Hardinxveld by Miss Akira Mary Lumsden, the granddaughter of Bob Spanswick, Managing Director of Delta Marine Ltd. Just a week later Voe Vanguard was off to her first offshore wind farm, the Walney Extension project. Delta…

Navigating the ABCs of SCR

The Earl W. Redd on christening day

On the way to Tier IV compliance, it turns out that experience counts. In late February, the nation’s first Tier IV, Selective Catalytic Reduction (SCR) tugboat was christened. That’s probably not earthshaking news all by itself – after all, SCR isn’t all that new – but the event likely ushers in a new era of powerful domestic workboats that also come with a greener environmental footprint. How all of that comes together is a bigger story, and one which will play out again and again in the coming year or two.

862 Vessels Scrapped in 2016 -Report

© Stanislau Beloglazov / Adobe Stock

Each year the NGO Shipbreaking Platform collects data and publishes an annual list of ships dismantled world-wide. Of the 862 vessels dismantled in 2016, 668 were sold for breaking on the beaches of South Asia. Most vessels scrapped in 2016 were bulk carriers, followed by general cargo and container ships, oil and gas tankers, roll-on roll-offs, passenger vessels and oil platforms. Bangladesh remained the preferred scrapping destination worldwide in terms of tonnage dismantled.

Greece Tops World's Worst Shipping Nation

Image: NGO Shipbreaking Platform

NGO Shipbreaking Platform Annual Report 2016 listed Greece as number one in World's Worst Shipping Nation followed by China. It may be surprising for a country whose industry is proud of green technology and engineering solutions, but in 2016 Germany was responsible for the worst shipbreaking practices amongst all shipping nations when one compares the size of its fleet to the number of ships broken irresponsibly. German owners, banks and ship funds had a staggering 97 ships rammed up on the beaches of South Asia out of a total of 99 vessels sold for demolition.

Rolls-Royce to Power Korean Naval Frigates

Photo: Rolls-Royce

Rolls-Royce said it has won a contract to supply MT30 marine gas turbines to power the next three ships in the Republic of Korea Navy’s Daegu-class frigate program. The frigates are intended for a variety of missions including anti-submarine warfare, anti-air warfare, patrol, surveillance, search and rescue, protection of EEZ and transport. In all Eight Daegu-class frigates (also known as FFX Batch 2) are scheduled to be built, the first of which is being built by Daewoo Shipbuilding and Marine Engineering (DSME) and was launched at DSME's Okpo shipyard in June 2016.

KotugSmit, MOL Team up for Smart Operations

Photo courtesy of KotugSmit / Andrew Sassoli-Walker / Dietmar Hasenpusch

Mitsui O.S.K. Lines, Ltd. (container, tanker, dry-bulk and car carrier divisions) and KOTUG SMIT TOWAGE (KotugSmit) signed long term towage agreements, effective early 2017. The two have agreed upon a long term towage contract for the ports of Rotterdam, Antwerp, Ghent, Terneuzen, Flushing, Bremerhaven, Hamburg, London and Southampton. With this strategic partnership, both organizations aim to boost operational performances by benefiting from smart collaboration and sharing operational knowledge and valuable information.

WAAMpeller: World First Class-Approved 3D Printed Ship’s Propeller

Left to right: Kees Custers, Research Engineer Damen Shipyards Gorinchem; Vincent Wegener, Managing Director RAMLAB; Wei Ya, Postdoctoral Researcher RAMLAB; Constantinos Goulas, Postdoctoral Researcher RAMLAB; Max van der Zalm, Design Engineer Damen Schelde Naval Shipbuilding; Don Hoogendoorn, Principal Research Engineer Damen Shipyards Gorinchem; Kelvin Hamilton, Technical Consultant Autodesk; and Laurens van Ballegooy, Sales Manager Promarin (Photo: RAMLAB/Damen)

A consortium of organizations are working toward a landmark achievement in the maritime sectors: creating the world's first class-approved 3D-printed ship's propeller. As many sectors of the shipbuilding industry suffer due to overcapacity, it is this type of innovative leap that will -- if successful -- separate the next generation of leaders in the sector. In the effort a cooperative consortium of Damen Shipyards Group, RAMLAB, Promarin, Autodesk and Bureau Veritas aim to develop the world’s first class approved 3D printed ship’s propeller, dubbed WAAMpeller.

Eagle Bulk Takes Delivery of Stonington Eagle

Photo:  Eagle Bulk Shipping

Eagle Bulk Shipping has taken delivery of the M/V Stonington Eagle, the third of nine Crown-63 Ultramax dry bulk sister vessels acquired from Greenship Bulk Trust for an aggregate price of $153 million. With the addition of the M/V Stonington Eagle, the current Eagle Bulk fleet consists of 43 vessels on the water, including five Ultramax vessels. Another six Ultramaxes are scheduled to be delivered over the coming months, growing Eagle Bulk's owned fleet to 49 Ultramax and Suezmax vessels.

Diana Adds Post-Panamax Bulker, Bags Contracts

Photo: Diana Shipping

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has taken delivery of the m/v Phaidra (formerly “Soya May”), a 2013 built Post-Panamax dry bulk vessel of 87,146 dwt that the Company entered into an agreement to purchase in April 2017. The Company also announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore for one of its Capesize dry bulk vessels, the m/v Semirio.

GOGL Takes Two More Vessels from Quintana

Image: Golden Ocean Group Ltd

Golden Ocean Group (GOGL)  said it has taken delivery of additional two vessels, Q Myrtalia and Q Shea, from Quintana Shipping  in exchange for 1.95 million consideration shares. The Company is pleased to announce that it has taken delivery of the first two vessels, Q Sue and Q Kaki (to be renamed Golden Sue and Golden Kaki). Golden Ocean has issued 1.6 million consideration shares to Quintana Shipping Ltd. and associated companies in exchange for the two vessels. Following this transaction…

New Drydock Arrives at Bollinger Algiers

Drydock Mrs. Jody arrives at Bollinger Algiers. (Photo: Bollinger Shipyards)

U.S. shipbuilding and repair company Bollinger Shipyards said it has taken delivery of a new drydock at its Bollinger Algiers facility. The new drydock Mrs. Jody adds 4,000 tons total lifting capacity to the New Orleans shipyard. “This drydock will position us well in the diverse customer markets that we serve, and will further enhance our position in the market with lifting capacity needed by our customers,” said Bollinger CEO and president, Ben Bordelon. The Mrs. Jody drydock measures 198-ft. x 76-ft. between the wing walls and has lifting capacity of 4,000 tons.

Baltic Index Falls on Lower Iron Ore Demand

© corlaffra / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell 2 percent on Monday as lower demand for iron ore fixtures hit capesize rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 20 points, or 2 percent, to 994 points. The capesize index was down 64 points, or 3.7 percent, at 1,661 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, was up $559 at $12,385.

Peace Boat to Showcase Ecoship at Nor-Shipping

Ecoship (Photo: Nor-Shipping)

Peace Boat will showcase its plans for Ecoship, a unique concept cruise vessel, at Nor-Shipping 2017. The Japanese-based organization, which works to promote peace, human rights, sustainable development and respect for the environment, will take one of the largest spaces in the event’s exhibition Hall A, dedicated to the new industry concept of Disruptive Sustainability. Peace Boat is an international nongovernmental and nonprofit body. It has operated for the last 34 years, chartering cruise vessels to voyage worldwide conducting educational programs…

New Marine Battery System from Leclanché

(Photo: Leclanché)

The Leclanché MRS will be used on the E-ferry in Denmark, the world’s largest 100 percent electric ferry by battery capacity, equipped with a 4.3 MWh Leclanché Lithium-ion battery and scheduled for launch later this year. “There is a huge opportunity for marine vessels across the world to reduce their harmful emissions and cut their operating costs by leveraging battery storage technology,” said Anil Srivastava, CEO of Leclanché. “This is why we developed the MRS and we are delighted that it is the world’s first such solution to receive type approval from DNV-GL.

Hybrid Propulsion for NCA’s New Vessel

Image: Norwegian Coastal Authority/Fitjar Mekaniske Verksted

The Norwegian Coastal Administration’s (NCA) new multipurpose vessel OV Ryvingen will be its second to combine traditional diesel power with battery-driven operation. The battery pack that Rolls-Royce has been commissioned to equip the Ryvingen with will have an available capacity of 2,000 kilowatt hours (kWh), an increase from the 850 kWh capacity that is installed aboard its hybrid sister ship the Bøkfjord. It is also has twice the capacity of Norway’s first fully electric car and passenger ferry, Ampere.

Containerized Control Room Delivered for SSCV Thialf

Photo: ELA Container Offshore

ELA Container Offshore GmbH delivered an offshore office container to Heerema Marine Contractors (HMC), a marine contractor in the international offshore oil and gas industry. The container was placed on board semisubmersible crane vessel (SSCV) Thialf and was used as a control room to operate their anchor winches. The Thialf is HMC's largest SSCV, capable of a tandem lift of 15,600 tons. Its two cranes provide for a depth reach lowering capability as well as a heavy lift capacity to install topsides.

TMC Tallies another Höegh FSRU Deal

Vessel under construction at Samsung Heavy Industries to be delivered Q2 2019. (Photo: Höegh LNG)

TMC Compressors said it has secured a contract from Samsung Heavy Industries to deliver a marine compressed air system to a floating storage and regasification unit (FSRU) the South Korean shipyard is building for Höegh LNG. Under the contract, international compressor supplier TMC will deliver a complete marine compressed air system consisting of two 44 kW service air compressors and two 44 kW control air compressors. The contract value is undisclosed. The compressed air system will be utilized at a newbuild 170…

ICC Calls for Global Guidance on Return-Refill Container Systems

Image: CMA CGM

Shipping goods across borders with reusable containers and tracking systems is better for the environment, consumers and companies yet differential treatment by customs authorities can be detrimental for business. The volume of goods shipped globally has reached impressive proportions in recent decades. Goods moved annually by ship alone weigh more than 10 billion tonnes, or 15 times the weight of all cows on Earth. The estimated value of global trade has increased tenfold since 1979 to more than US$16 trillion, a figure close to the GDP of the world’s biggest economy.

Savannah Port Welcomes Record Cargo Ship

Photo:  Georgia Ports Authority

Governor Nathan Deal, Port of Savannah officials and the maritime community were on hand to welcome the COSCO Development, the largest containership to ever call on the U.S. East Coast as it handled 5,500 containers, a record for Georgia’s ports. “This is another example of how the Port of Savannah is the gateway not just for the U.S. Southeast, but for America’s East Coast,” said Georgia Governor Nathan Deal. During the ship’s 30 hours at dock, up to six cranes moved 10,000 TEUs (Twenty-foot Equivalent container Units) on and off the vessel…

DSME Gets Fresh $6B Bail Out

Photo: DSME

Korea's battered Daewoo Shipbuilding & Marine Engineering (DSME) is all set to receive a new bailout package worth $6 billion, after court rejected appeal from a group of individual investors. According to Pulse news, government-led bailout package that required all creditors and bondholders to agree to push back the maturity, lower borrowing rates, and convert debt into equity according to their share had been put on hold as some of the individual investors appealed to a Busan court.

Container Shipping Demand Remains Good: Hapag-Lloyd

Photo: Hapag-Lloyd

In the medium term, demand for container shipping services should continue to rise in tandem with expected ongoing growth in global trading volume, says Hapag-Lloyd. As a result, the container shipping industry’s medium-term growth prospects remain intact, says the company in its investor outlook for 2017. In its latest economic outlook (April 2017), the International Monetary Fund (IMF) expects global economic growth to reach 3.5% in the current year. This forecast means that the global economy is set to grow at a slightly faster rate in 2017 than in the previous year (+3.1%).

Cochin Shipyard Builds 4 Ships for Andaman & Nicobar

India's first Indigenous Aircraft Carrier INS Vikrant built in Cochin Shipyard. Photo: Cochin Shipyard Limited

Government of India-controlled Cochin Shipyard Ltd is constructing four passenger-cum – cargo vessels for Andaman & Nicobar Administration under the ‘Make in India’ initiative of Government of India. As per orders placed by the A&N Administration, two of these vessels will have a capacity of 500 persons-cum-150 tonne cargo and the remaining two will have a capacity of 1200 persons-cum-1000 tonne cargo. These vessels will have state of the art facilities for passengers and comply with latest international/national rules and regulations.

USS Abraham Lincoln Achieves Redelivery

 The Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72) conducts high-speed turn drills in the Atlantic Ocean during sea trials. Photo: United States Navy

The USS Abraham Lincoln (CVN 72) was redelivered to the fleet May 12, marking the successful completion of its refueling and complex overhaul (RCOH) carried out at Newport News Shipyard. At sea for the first time since March 2014, the crew conducted rigorous tests of engineering components, the modernized combat systems suite and flight deck equipment that supports Lincoln's mission at sea. Damage control capabilities and basic deck seamanship were also checked to ensure both the ship and the crew's operational readiness.

OOCL Hong Kong Christened

Photo: Orient Overseas Container Line Limited

Orient Overseas Container Line (OOCL) announced the naming of its latest containership, the OOCL Hong Kong, at a christening ceremony held at the Samsung Heavy Industries (SHI) shipyard on Geoje Island on May 12. The OOCL Hong Kong was also celebrated as one of the largest containerships in the world by carrying capacity, and will be a welcome addition to strengthening the OOCL fleet this year. In his ceremonial remarks, C. C. Tung, Chairman of Orient Overseas (International) Limited addressed the importance of this occasion for the company.

TEN's 15-Vessel Newbuilding Program Nearing Completion

Pic: Tsakos Energy Navigation

Greece-based Tsakos Energy Navigation (TEN) said that its 15-vessel newbuilding program is nearing completion with the final three aframax tankers expected to be delivered in the coming months. In the second half of the year, with all vessels delivered and 77% of the fleet on full utilization contracts, TEN's industrial shipping strategy will be at full throttle. In line with the programmed deliveries, in January 2017 the VLCC Hercules I was delivered from Hyundai Heavy Industries in South Korea and was subsequently chartered for a period of up to 18 months.

Euroseas Sees Improvement in Cargo Shipping

Pic: Euroseas Ltd

The beginning of 2017 found both the drybulk and containership markets recovering from the historical low levels observed during 2016, says Euroseas Chairman. Aristides Pittas, Chairman and CEO of Euroseas said that the drybulk market improved rapidly during the last two months of 2016 and throughout the first quarter, although it has recently lost some of the gains achieved. The containership market improved more gradually starting in February 2017, and has maintained its level, still low compared to historical standards, despite a slowdown in chartering activity lately.

New Floating Dry Dock for Marisco in Hawaii

Photo: GL Engineering & Construction Pte Ltd.

A new concrete floating dry dock has been launched by Singapore marine engineering company GL Engineering & Construction Pte Ltd (GL E&C). Built in Batam, Indonesia with a local subcontractor, the $12 million dry dock named Peleke Nui has been commissioned by an American company, Marisco Limited. for the construction, maintenance as well as repair of ships and naval crafts, serving international clients from the owner’s base in Hawaii. According to Lim Sing Tian, Managing Director of GL Engineering & Construction Pte Ltd…

Italian Submarine Romeo Romei Delivered

Photo: Fincantieri

The submarine Romeo Romei was delivered at Fincantieri’s shipyard of Muggiano, La Spezia. It is the last of the four U212A Todaro class twin units ordered from Fincantieri by the Naval Armament Unit – NAVARM for the Italian Navy. Romeo Romei, as its twin unit Pietro Venuti delivered last July at the Muggiano shipyard, features highly innovative technological solutions. It is entirely built with amagnetic material, using the most modern silencing techniques to reduce its acoustic signature.

Riverboat American Duchess to Launch in August

Artist rendering of American Duchess, the company’s latest riverboat (Image: American Queen Steamboat Company)

The American Queen Steamboat Company, owner and operator of the American Queen and American Empress, will launch service on its new American Duchess when it sets sail from New Orleans on Aug. 14, 2017, following its christening a day earlier. The all-suite, 166-guest American Duchess will be the first purpose-built boutique paddle wheeler offering guests the largest suites on the Mississippi River. The American Duchess follows in the pedigree of the company’s namesake American Queen and will offer overnight stays from New Orleans.

Newbuild Tonnage: Greece Leads the Way in 2017

File photo: Maran Tankers

Globally 119 new bulkers and tankers have been ordered since the start of 2017, according to data compiled by VesselsValue Deals. Of those orders, 35 come from Greek ship owners (14 bulkers, 21 tankers) – by far the most of any nation. After Greece, the U.S. is second with 14 vessels ordered in 2017, followed by Singapore (10), Noray (8) and the Netherlands (6). The imbalance of supply and demand between the number vessels currently on the water and the amount of cargoes does…

Costa Concordia Captain Sentenced to 16 Years in Prison

© Samuele Gallini / Adobe Stock

The former captain of the Costa Concordia cruise liner was sentenced to 16 years in prison on Friday by Italy's highest court for his role in the 2012 shipwreck, which killed 32 people off the island of Giglio, a court official said. Francesco Schettino was originally found guilty in 2015 of manslaughter, causing a shipwreck and abandoning his passengers. Friday's ruling exhausted his appeals process, with the court rejecting his claim that others bore the blame for the disaster. Free pending the decision, the 56-year-old Schettino is expected to start his jail sentence in the coming hours.

Late & Overweight: Germany's New Frigates Found Wanting

(Photo: Bundeswehr / Michael Bockner)

Germany's much-delayed new frigates, built by ThyssenKrupp and Luerssen for at least 650 million euros ($710 million) apiece, are overweight and float with a persistent list to starboard, according to a confidential report seen by Reuters. The ships, designed to need a crew of only 120, less than half their predecessors, are a crucial element in Germany's plans to beef up its military to face an increasingly uncertain European security landscape and a more assertive Russia. Designed to remain at sea for far longer than the German armed forces' existing fleet…

EPA Paves Way for Stalled Mine in Alaska

U.S. environmental regulators have cleared the path for a stalled copper and gold mine in Alaska by agreeing to settle current lawsuits and other issues over the project, which had drawn environmental concerns over its potential impact on the world's largest sockeye salmon fishery. U.S. The Pebble Limited Partnership mining company had filed a lawsuit against the EPA under the previous administration of Democratic president Barack Obama, which had sought to block it. Backers of the project had been hopeful that Obama's Republican successor, Donald Trump would allow it to proceed. Shares of Northern Dynasty Minerals Ltd , which owns the massive Pebble deposit, have surged since Trump won the U.S. election back in November. Trump took office Jan. 20.

Mein Schiff 6 Makes Maiden Call in Kiel

Photo: Port of Kiel

The latest newbuilding to join TUI Cruises, Mein Schiff 6, has berthed in Kiel for the first time. Kiel is the ship’s first passenger port of call in Germany she has visited since she was handed over a few days ago in Turku, Finland. The 99,000 GT, 295 m long cruise ship arrived in the Kiel fiord on Thursday, May 11 to a water fountain welcome and was escorted to her berth by one of the port’s tugs. Onlookers lined the banks and visited the Ostseekai Terminal to catch a glimpse of Mein Schiff 6.

Spanish Cabinet Attempts Port Reform Again

File Image (CREDIT: AdobeStock / (c) Lucian Milasan)

The Spanish cabinet passed a decree on Friday aimed at liberalizing the country's ports, a second effort at a contentious law which has already been rejected by parliament and prompted threats of widespread strikes. The Mediterranean's largest ports, Valencia and Algeciras, alongside the smaller port of Barcelona, help shift about two thirds of Spain's imports and exports. Prolonged industrial action could badly hurt Spain's exports, which are worth about a third of economic output and were key in dragging the country from recession following the 2008 property market crash.

Capesize Rates Nudge Baltic Index Up Again

File Image (CREDIT: AdobeStock / (c) Lidia n Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose marginally on Friday on stronger rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 2 points, or 0.2 percent, at 1,014 points. The capesize index gained 30 points, or 1.77 percent, to 1,725 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, was up $203 at $12,944.

Union Calls Off Strike at Jakarta Port

File Image: Tanjung Priok port (CREDIT: AdobeStock / Adita Petria Warman)

An Indonesian labour union has scrapped a planned strike at Jakarta's Tanjung Priok port next week, ensuring operations would run normally at the country's busiest port, union officials said on Friday. Nova Sofyan Hakim, the chairman of the workers' union of PT Jakarta International Container Terminal (JICT), said by text message the union had reached "a constructive agreement" with the company. JICT is the company in charge of loading and unloading at Tanjung Priok port, the country's biggest container port.

Hapag-Lloyd Projects Higher FY '17 Earnings

File Image: CREDIT (port of Boston)

CEO sees closer supply-demand balance in shipping market; higher earnings forecasts upheld after wider net loss. German container shipping firm Hapag-Lloyd on Friday said it should achieve higher earnings this year, based on expectations for a moderate increase in freight rates and cost savings. "The outlook is fairly positive," Chief Executive Rolf Habben Jansen said in a video interview on the company's website. The shipping industry is slowly coming out of a year-long slump that caused the collapse of South Korea's Hanjin Shipping last year…

DP World London Now Handles Far East Calls

Photo: by Andrew Bowen, DP World

MOL Triumph, the first of the world’s largest and newest vessels to call in the UK, arrives in Southampton on THE Alliance's FE2 service as new third deep-water berth opened at London Gateway in April, ahead of first regular Asia-Europe service starting. DP World's UK terminals will welcome the first services from the Far East following a global shake-up of the world’s shipping lines. Inaugural calls of Asia/Europe services by THE Alliance, a shipping consortium made up of Mitsui O.S.K Line…

CME Lifts 'Force Majeure' at Some Illinois River Locales

File Image (CREDIT: AdobeStock / (c) Jim Pintar)

The CME Group Inc on Thursday said it lifted the majority of force majeure conditions invoked at corn and soybean shipping stations on the Illinois River earlier this month. Force majeure conditions continue to exist at some exchange-approved corn and soybean shipping stations, which may prevent these facilities from loading, the CME said. Corn and soybean futures are traded on the CME's Chicago Board of Trade. On May 4, the CME declared force majeure due to load-out impossibility…

Pasha Hawaii Taps Keppel Fels to Build LNG-Fueled Boxships

A rendering of one of Pasha's planned LNG fueled containerships. (CREDIT: Pasha)

Delivery of First Vessel Planned for Early 2020. Honolulu-based Pasha Hawaii today announced that the company has selected Keppel AmFELS in Brownsville, TX, a subsidiary of Keppel Offshore & Marine (Keppel O&M) for the construction of two new Liquefied Natural Gas (LNG) fueled containerships, with the option to order two additional vessels. Pasha Hawaii is in the process of finalizing contract specifications. The new U.S. Jones Act vessels will carry 2,525 TEUs, including a fully laden capacity of 500 45-foot containers…

Cammell Laird Honors Military Heritage

Aircraft Carrier Modules leaving Cammell Laird (Photo: Cammell Laird)

Liverpool City Region (UK) shipyard Cammell Laird has announced it will be honoring its illustrious naval and military heritage next month by being headline sponsor of the UK’s Armed Forces Day (AFD). The AFD celebrations will take place in Liverpool this year on June 24, with more than 1,000 serving personnel, veterans, cadets and marching bands taking part in a parade followed by a full program of events near the city’s iconic waterfront. Cammell Laird CEO John Syvret, CBE,…

Rickmers Schedules Bondholder Vote on Revamp Plan

Only 17.4 percent of Rickmers' bondholders took part in a vote on the company's restructuring plan on Wednesday, fewer than the minimum required. Under the proposed revamp plan, the equity stake of owner Bertram Rickmers would be reduced to 24.9 percent from 100 percent.

Baltic Index Gains On Firmer Capesize Rates

File Image (CREDIT: AdobeStock / (c) Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Thursday helped by stronger rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up seven points, or 0.7 percent, at 1,012 points. The capesize index jumped 50 points, or 3.04 percent, to 1,695 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, was up $337 to $12,741.

Spring Cargo Numbers Buoy Great Lakes-Seaway Shipping

The ocean-going vessel Federal Mackinac sails on the St. Lawrence Seaway this autumn. Photo Credit: The St. Lawrence Seaway Management Corporation

Spring cargo numbers from the St. Lawrence Seaway and U.S. ports are signaling a better year for Great Lakes-Seaway shipping. According to the latest figures from the St. Lawrence Seaway, total cargo shipments via the Seaway from the start of the shipping season (March 20 through April 30) reached 3.7 million metric tons, up 8 percent from the same period a year ago. “It’s still very early in the season, but we’re optimistic that 2017 will be a better year for Great Lakes-Seaway shipping,” said Bruce Burrows, President of the Chamber of Marine Commerce. “U.S.

Southeast Asia's Largest Concrete Floating Dry Dock Launched

Peleke Nui (Photo: GL E&C)

Southeast Asia’s largest concrete floating dry dock has been launched by Singapore’s marine engineering company, GL Engineering & Construction Pte Ltd (GL E&C). Built in Batam, Indonesia with a local sub-contractor, the dry dock named ‘Peleke Nui’ has been specially commissioned by an American company, Marisco Limited. Costing $12 million, the dry dock will be used for the construction, maintenance as well as repair of ships and naval crafts, serving international clients from the owner’s base in Hawaii, the United States of America.

Damen To Build New Beam Trawler

Jan Cornelis GO-22 (Photo: Damen)

Damen Maaskant Shipyards Stellendam (Maaskant) is to build a new beam trawler for the Netherlands fishing fleet. The client is the Hakvoort Brothers from Urk, the Netherlands. The vessel, which will use a stock hull, will join another fishing boat operated by Hakvoort Brothers. This was also built by Damen Maaskant yard, 17 years ago. Based on a well proven design, the new trawler will be 41.05 meters in length and have a beam of 9 meters. As yet unnamed, her registration number will be UK-46. Beam trawlers use outrigger booms to tow two trawls, one on each side.

Optimarin BWT Retrofit Orders Grow

Optimarin CEO Tore Andersen (Photo: Optimarin)

Optimarin has signed contracts with Wisby Tankers and Hoëgh Autoliners to install its market proven Optimarin Ballast System (OBS) on five existing vessels. The agreement, which comes six months after the Norwegian ballast water treatment (BWT) specialist became the first company to win USCG approval, will see Optimarin fitting units on three bitumen tankers for Wisby and two Hoëgh Autoliners RoRo ships. With a fleet of 19 advanced vessels, Wisby Tankers is a niche leader, utilizing smaller tankers for European trades and its larger vessels…

Maersk: Shipping Recovery Coming

File Image: Credit Maersk

Maersk Line posts loss, but company sees improvement. A.P. Moller-Maersk beat first-quarter net profit forecasts on Thursday, boosted by the energy business it plans to spin off, but also reported signs of improvement at its long-suffering container shipping business. Shares in the Danish conglomerate climbed almost 5 percent after it said a gradual recovery in freight rates should boost earnings at Maersk Line, the world's biggest container shipping business, over the rest of the year.

Drewry: Scrapping to Accelerate Tanker Recovery

Graph: Drewry Shipping Consultants Limited

Recovery in the crude tanker shipping market is not expected until 2020 as weak trade growth and a bloated orderbook limit any rate recovery. But the timing of any market upturn will be heavily influenced by the level of scrapping, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. The ongoing overcapacity in the tanker market is expected to persist further in 2017 because of a sharp increase in deliveries. Although tonnage deliveries are projected to decline after 2017…

New Ship Building Orders for Korean Yards

Photo: Samsung Heavy Industries

South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data. The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders, respectively. Japanese shipyard orders came to nil. In terms of numbers, Korean shipyards clinched new orders to build 12 ships. South Korea took the largest portion of very large crude oil carrier (VLCC) orders placed in quantity early last month, said the report.

DryShips Acquires Suezmax Newbuilding

File Photo: DryShips Inc

Greece-based DryShips, a diversified owner of ocean going cargo vessels,  entered into an agreement with an entity affiliated with the Company’s Chairman and CEO, George Economou, to acquire one 158,000 deadweight tons Suezmax tanker currently under construction in China. The Company will finance the total gross purchase price of approximately $64.0 million using cash on hand and expects to take delivery of the vessel during May 2017. The vessel will be time chartered back to…

Maritime Reporter Magazine Cover May 2017 - The Marine Propulsion Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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