BIMCO Relaunches Ship Benchmarking System
BIMCO relaunches ship benchmarking system Shipping KPI after two years of redesign. The system helps shipowners and managers make strategic decisions about their fleet. "The Shipping KPI system enables me, as a shipowner, to make rational strategic decisions on how to run my fleet, by benchmarking with other ships in the segments we compete in. It is an important step for BIMCO in its goal of developing digital solutions for the industry," says Şadan Kaptanoğlu, owner of Kaptanoğlu Group, President Designate of BIMCO and chair of the Shipping KPI steering group.
IMO to Ban Ships without Scrubbers from Carrying High Sulphur Fuel
The International Maritime Organization intends to ban ships that do not have equipment to strip sulphur from carrying fuel that has a sulphur content above new limits in 2020, an IMO official said on Thursday. The ban, which still has to go through two formal approval steps, was presented at IMO compliance meetings earlier this month. It would make enforcing the new limits on sulphur in shipping fuels significantly easier, cutting into the expected rule-breaking. "There wasn't that dissent…
US Lays Keel for 21st Littoral Combat Ship
The Lockheed Martin (LMT)-led industry team officially laid the keel for the U.S. Navy's 21st Littoral Combat Ship (LCS), the future USS Minneapolis-Saint Paul, in a ceremony held at Fincantieri Marinette Marine in Marinette, Wisc. Ship sponsor Jodi Greene authenticated the keel by welding her initials onto a steel plate that will be placed in the hull of the ship. "It is a tremendous honor to serve as the sponsor of the future USS Minneapolis-Saint Paul," Greene said. "I look forward to supporting the ship and its crew throughout the building process and the life of the ship.
All Aboard for Hedge Funds as Trade Tide Lifts Shipping
Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Around 90 percent of traded goods by volume are transported by sea and global shipping sectors, including dry bulk, are on course for a recovery this year after a near-decade long crisis, ratings agency S&P said in a report last week. The IMF has forecast GDP growth at 3.9 percent for 2018 and 2019 versus 3.7 percent last year, which analysts say is boosting sentiment for shipping.
Century-old Tall Ship Goes High Tech
The 1914-built three-masted steel bark Statsraad Lehmkuhl is the oldest of the large square riggers still in operation today. The century-old tall ship, which is currently in use as a Norwegian sail-training ship, will be able to cruise out of Bergen harbor next year without any greenhouse gas emissions, thanks to a hybrid power system from Rolls-Royce. Norway’s state-owned company Enova, which works to facilitate the country’s transition to a low-emissions society, is providing just over NOK 4.2 million for an innovative project to equip the historic tall ship with shipboard battery power.
Germany and Greece: Worst Vessels Dumpers
As in 2016, Germany and Greece top the list of country dumpers in 2017, according to new data released today by the NGO Shipbreaking Platform. German owners, including banks and ship funds, beached 50 vessels out of a total of 53 sold for demolition. Greek owners were responsible for the highest absolute number of ships sold to South Asian shipbreaking yards in 2017: 51 ships in total. Since the Platform’s first compilation of data in 2009, Greek shipping companies have unceasingly topped the list of owners that opt for dirty and dangerous shipbreaking.
Rolls-Royce to Equip UK Navy's Type 26 Warships
Rolls-Royce Canada said it has won a contract with BAE Systems for its mission bay handling technology for the U.K. Royal Navy’s new Type 26 Global Combat Ship. The contract covers the first three ships, the first of which is currently under construction at the BAE Systems Glasgow shipyard, Scotland. The Type 26 Global Combat Ship is designed with modularity and flexibility in mind, and a key feature which sets it apart from competing designs is its mission bay. The Rolls-Royce Mission Bay Handling System…
Nor-Shipping Partners with ‘Lifesaver’ Mercy Ships
Leading maritime event week Nor-Shipping has announced that Mercy Ships has been selected as its new charity partner. The global organisation, which celebrates its 40th anniversary this year, will receive financial support and promotion throughout Nor-Shipping’s maritime and ocean industry network, supporting its vital work helping and healing those in need. Nor-Shipping 2019, taking place across a series of venues in Lillestrøm and Oslo between 04 – 07 June 2019, will help raise funds and awareness for Mercy Ship’s state-of-the-art Africa Mercy vessel.
Eco Ships: The New Norm for Top Tier Ships
The high average cost of bunker fuel over the past decade led to increased interest in fuel efficiency. Shipowners have a difficult time demanding higher rates in response to cost increases. This makes any savings they can realize on operational and fuel costs critical. Fuel costs account for about 70 to 85 percent of the cost of running a ship, so savings realized in consumption go to their bottom line. Ships which travel at a higher speed, such as gas carriers and container vessels, see the highest percentage adaptation.
Adventure Bound: Sunstone Ships Climbs to New Heights
Niels-Erik Lund began his passenger ship career in 1969 as a trainee in a Danish passenger shipping company, DFDS. In the nearly 50 years since, the passenger and cruise shipping industry has changed many times over, with consistent growth being the only similarity between then an now. Today Lund, President & CEO of Sunstone Ships, Inc., has an unfettered view of the expedition cruise sector that he helped to create. With the expedition and luxury cruise segments set for fast growth, Maritime Reporter spoke to Lund to help put the market in better perspective.
Huntington Ingalls Shipbuilder Nears Completion of Future JFK Aircraft Carrier
Huntington Ingalls Industries announced that its Newport News Shipbuilding division has built 70 percent of the structures necessary to complete the nuclear-powered aircraft carrier John F. Kennedy (CVN 79). Like its predecessor, the first-in-class USS Gerald R. Ford (CVN 78), Kennedy is being built with a modular construction technique where smaller sections of the ship are welded together to form larger structures called superlifts. The superlifts are pre-outfitted and hoisted into Dry Dock 12—where the ship is being built—by the company’s 1,050-metric ton gantry crane.
Container Fleets & Demand Growing in Step -BIMCO
For 2018, the world containership fleet is expected to grow in step with global demand, according to BIMCO’s latest container shipping market outlook. Having experienced falling freight rates from August to year-end in 2017, most liner companies were successful in pushing rates higher in early January 2018. Most of them managed to hold onto most of the gains they achieved, considering October and November were challenging in terms of very low demand growth. The weak demand came from the Far East to Europe trade, and on the Intra-Asian transport.
USNS Hershel 'Woody' Williams Delivered
The fourth expeditionary sea base vessel, USNS Hershel “Woody” Williams, was delivered to the U.S. Navy’s Military Sealift Command (MSC) on February 22. Shipbuilder General Dynamics NASSCO began constructing the 784-foot-long ship in October 2015, applying lessons learned from ESB 3, USS Lewis B. Puller, throughout the ESB 4 build. The vessel, named after World War II Medal of Honor recipient Hershel “Woody” Williams, is designed to carry out various missions including air mine counter measures…
Nordic American Tankers Signs TC with Major Oil Firms
In the autumn of 2017, Nordic American Tankers (NAT) advised you of our time charter activities/contracts with oil companies such as Shell, BP, ExxonMobil and other major oil companies in the West and in the East. The contract with ExxonMobil has expired but the company does work for them on a regular basis. "From time to time we also have shorter contracts (typically up to 90 days) for ships serving as storage space for major companies and large oil traders," said a statement from the company.
IMO Rules a Cliffhanger for Oil Storage -Vitol's Chris Bake
Vitol executive committee member Chris Bake says a big question facing oil storage sector is how world handles new International Maritime Organisation rules for cleaner shipping. New IMO rules to slash the use of high sulphur fuel oil in global shipping will come into effect in 2020. "It's going to be more and more difficult to burn that fuel oil with more economies going to natural gas for power," he said. "(Lower sulphur) marine gasoil has to build ahead of 2020. At the same…
Nauticor Extends its LNG Supply Network
Nauticor has extended its liquefied natural gas (LNG) supply network for ships within the North Sea region and has now begun delivering to maritime customers in the Port of Rotterdam. The Dutch port is the latest location added to the firm’s LNG distribution network, adding to a growing portfolio of one of the leading suppliers of LNG as fuel for ships. The premier bunker operation by Nauticor in the Port of Rotterdam saw the containership Wes Amelie, owned by Wessels Reederei based in Haren/Ems, receive the chilled fuel.
Global Ship Lease Extends Charter with OOCL
Global Ship Lease, a containership charter owner, today announced that it has agreed to an extension of its charter with OOCL for the OOCL Qingdao, a 2004-built, 8,063 TEU containership. The extension commences in direct continuation of the current charter with effect from March 11, 2018, at a fixed rate of $14,000 per day. Earliest redelivery is now January 1, 2019, with latest redelivery March 15, 2019 (at charterer's option). Global Ship Lease is a containership charter owner.
EIB, ING Earmark USD 370.3 mln for Green Shipping
The European Investment Bank (EIB) and Dutch multinational banking and financial services corporation ING signed an agreement to support green investments for the European shipping market for a total value of EUR 300m (USD 372.5million). ING and EIB will each contribute EUR 150m to the facility. This agreement will ensure that sponsors of green and sustainable projects in the maritime transport sector can benefit from advantageous financial terms. The facility is available to clients with significant European interests…
Hedge Funds Hook Shipping Stocks Grappling for Recovery
Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three months of the year, U.S. Securities and Exchange Commission filings compiled by Symmetric show. "Shipping has been in a terrible trough for a number of years," Chris Walvoord, global head of hedge fund research at investment consultant Aon Hewitt, said. "Hedge funds are starting to see opportunity ...
Spliethoff Sending 6 Ships to BLRT for Refit Work
Dutch shipping company Spliethoff's Bevrachtingskantoor B.V. has signed contracts with BLRT Grupp to have scrubbers (systems for cleaning exhaust gases) and ballast water treatment systems installed on board six of its ships. The latest contract for the modernization of Spliethoff's F-type ships (deadweight up to 12,500 tons) follows an earlier agreement to install ballast water treatment systems aboard the company’s 14 S-type vessels (deadweight up to 21,500 tons). "Work on modernization of ships has already begun and will continue until the beginning of 2020.
835 Ships Sold to Scrap Yards in 2017
More than 800 large oceangoing commercial vessels were sold to the scrap yards in 2017, according to the latest data from the NGO Shipbreaking Platform. Of the 835 ships sold to scrap yards, 543 vessels – or 80.3 percent of total tonnage dismantled globally – were broken down on the beaches of Bangladesh, India and Pakistan. However, the number of vessels and total GT scrapped in the tree nations decreased compared to 2016. Still, of the 20.7 million GT dismantled worldwide in 2017, 16.6 million GT was on the beaches.
Two Littoral Combat Ships Named
The U.S. Navy’s next two Littoral Combat Ships will be named USS Nantucket (LCS 27) and USS Savannah (LCS 28), announced Secretary of the Navy Richard V. Spencer. The future USS Nantucket (LCS 27), a Freedom-variant Littoral Combat Ship to be built by Fincantieri Marinette Marine in Marinette, Wis., will be the third commissioned U.S. Navy ship to honor the maritime history of Nantucket. The future USS Savannah (LCS 28), an Independence-variant Littoral Combat Ship to be built by Austal USA in Mobile, Ala., is the sixth ship to bear the name of Georgia’s oldest city.
Navy's Newest Expeditionary Fast Transport Ship Named
The U.S. Navy’s next Expeditionary Fast Transport (EPF) ship will be named USNS Newport (T-EPF 12), announced Secretary of the Navy Richard V. Spencer. The new vessel, currently under construction at Austal USA in Mobile, Ala., is the fourth ship named in honor of the Rhode Island city which serves as home to several Navy activities, including Naval Station Newport and the Naval War College. USNS Newport is the 12th and final vessel in the EPF in the series, formerly known as the Joint High Speed Vessel (JHSV).