Iran Floats Surplus Oil as Demand Falls Ahead of US Sanctions
Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the United Arab Emirates for about a month as demand for the oil fell ahead of U.S. sanctions.The tankers, carrying about 2.4 million barrels of South Pars condensate combined, have been floating off the UAE since August after South Korea halted imports from Iran while China's demand dropped during summer, according to several industry sources and shipping data.The build-up in Iranian oil…
M/V National Geographic Venture Launched at Nichols Brothers
The expedition cruise sector has been one of the fastest growing parts of the passenger vessel market, driven by a growing group of wealthy clientele willing and able to take the time and pay the money for an exclusive, once-in-a-lifetime journey to some of the world's most remote and exotic locales.Linblad Expeditions has been a clear leader in the sector, and recently its latest vessel -- M/V National Geographic Venture -- was launched at Nichols Brothers Boat Builders (NBBB).Nearly…
Oil Could Rise to $100 by 2019
Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore.Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the U.S. sanctions against Iran by the end of the fourth quarter this year, said Daniel Jaeggi, president of commodity merchant Mercuria Energy Trading…
CMA CGM Says It's Ready for More M&A Deals
France's CMA CGM, one of the world's largest container-shipping lines, remains interested in seeking acquisitions despite bringing to an end its interest in German peer Hapag-Lloyd, its chief executive said on Thursday."The shipping sector is consolidating further and if there are opportunities the CMA CGM group ... is able to be in the running for a new deal," Rodolphe Saade told Reuters on the sidelines of a ship launch ceremony at the northern French port of Le Havre.Regarding Hapag-Lloyd…
US Navy Ship Denied Entry into Hong Kong Port
China has denied a request for a U.S. warship to visit Hong Kong, the U.S. consulate in the Chinese city said on Tuesday, amid rising tension between Beijing and Washington over trade and a U.S. decision to sanction the Asian nation's military.The amphibious assault ship Wasp had been due to make a port call in the former British colony of Hong Kong in October, diplomatic sources said."The Chinese Government did not approve a request for a U.S. port visit to Hong Kong by the USS Wasp…
EBDG Names Schoenberg HR Manager
Elliott Bay Design Group (EBDG) has hired Julie Schoenberg as the new Human Resources Manager. She will be responsible for the firm’s HR function, working from the Seattle office.Schoenberg joins the team with a thorough working knowledge of human resources within the marine industry. Her background has focused on compliance, HRIS, employee and labor relations, onboarding, and performance evaluations. She received a BA in Human Relations and Women's Studies with a minor in Finance from Washington State University.
Smarter Energy Policy Will Broaden Offshore Recovery
For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.
Baltic Index Rises as Capesize Marks 8th Session of Gains
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday as capesize vessel rates gained for the eighth straight session.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 15 points, or about one percent, at 1,570 points.* "US-China trade tensions may have a net-positive impact on dry bulk ton-mile demand," Randy Giveans, vice president, equity research at Jefferies, said in a note.* In the latest development in the ongoing trade tussle between the world's two biggest economies, Ch
Cachet Covers & a Boy's Fascination with Ships
Like many boys, Charles. F. “Bud” Kirby, Jr. loved ships. He had drawings, models, pictures, newspaper clippings, and scrapbooks. And, as his son, Don, recently learned, he had cachet covers of submarines.Bud would send stamped envelopes to the Electric Boat Company that he had addressed to himself in Watertown, Mass. These envelopes would be stamped with a commemorative cachet and then appropriately cancelled at Groton, Connecticut, where the EB shipyard was located, or on the ship if it had been commissioned.Each ship has its own post office, and its own cancellation stamp.
COSCO Shipping's H1 Profit Falls 98 pct
China's COSCO Shipping Holdings Co Ltd on Thursday said first-half profits fell 97.8 percent as it grappled with higher costs and a slide in freight rates.China's largest shipping group, which has bought a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 40.8 million yuan ($6 million), down from 1.86 billion yuan in the same period last year.After a prolonged slump, the global container shipping industry entered a period of recovery last year.
US Crude Oil Shipments to China Halt Amid Trade War
U.S. crude oil shipments to China have "totally stopped", the President of China Merchants Energy Shipping Co (CMES) said on Wednesday, as the trade war between the world's two biggest economies takes its toll on what was a fast growing businesses.Washington and Beijing have slapped steep import tariffs on hundreds of goods in the past months. And although U.S. crude oil exports to China, which only started in 2016, have not yet been included, Chinese oil importers have shied away from new orders recently."We are one of the major carriers for crude oil from the U.S. to China.
Future USS South Dakota Delivered to US Navy
The U.S. Navy accepted delivery of the 17th submarine of the Virginia class, the future USS South Dakota (SSN 790), on September 24.The next-generation attack submarine began construction in 2013 and is scheduled to be commissioned in early 2019.South Dakota is the seventh Virginia-class Block III submarine. Block III submarines feature a redesigned bow with enhanced payload capabilities, replacing 12 individual vertical launch tubes with two large-diameter Virginia Payload Tubes, each capable of launching six Tomahawk cruise missiles.
BMT Introduces New Water Taxi Designs
BMT has introduced new vessel designs in response to a tender issued by Hong Kong’s Transport Department.Addressing a need to support the development of domestic passenger ferry services in Hong Kong, the new hybrid Eco Ferry and a smaller, nimble 14 passenger harbor craft have been designed for on-demand and ad-hoc trips, both of which could enable passengers to experience faster, smoother, and more fuel-efficient transits across Hong Kong’s Victoria Harbor.Richard Colwill, Regional Managing Director at BMT…
Lady Washington Opens for Public Visit
Tall Ship Lady Washington will be docked at Jack London Square at the foot of Broadway, Saturday and Sunday, informed a press release from Port of Oakland.Visitors can experience maritime history by taking a vessel tour for a small donation to the floating museum. There are also ticketed sailing trips on San Francisco Bay.Lady Washington was built in Aberdeen, Washington, by the Grays Harbor Historical Seaport Authority and launched in 1989. She is a full-scale replica of the…
Gulf Platforms Shut ahead of Hurricane
U.S. oil prices edged up on Tuesday, rising back past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.U.S. West Texas Intermediate (WTI) crude futures were at $70.04 per barrel at 0034 GMT, up 24 cents, or 0.3 percent from their last settlement.Anadarko Petroleum Corp said on Monday it had evacuated and shut production at two oil platforms in the northern Gulf of Mexico ahead of the approach of Gordon, which is expected to come ashore as a hurricane.International Brent crude futures…
Olmsted: Online & Open
After more than 30 years of frustratingly slow progress, cost overruns and more than a few mistakes, Olmsted is finally poised for success. That’s something to celebrate.It is official: The U.S. Army Corp of Engineers (USACE) wants Olmsted operational by October. After more than 30 years, the ribbon cutting to officially open the Olmsted Locks and Dam took place on August 30. The very old (1929) upstream locks and dams – Nos. 52 and 53, which Olmsted is replacing – will be dismantled by December 2020. Before that happens, Olmsted’s performance will be tested and confirmed.
US Navy Returns to Israeli Port in Sign of 'Deep Alliance'
A U.S. Navy warship has docked in the southern Israeli port of Ashdod, the first such visit there in almost 20 years, in what officials from both sides hailed as a sign of their strong ties in the face of shared adversaries like Iran.Foreign navies generally prefer northern Haifa as their Israeli port of call, so the destroyer USS Ross's arrival at Ashdod potentially signaled Washington's interest in broadened berthing options for its Mediterranean Sixth Fleet."This visit has significance.
Washington State Ferries Looks to Go Greener
Washington State Ferries has begun a project to transition the largest vessels in its fleet to cleaner hybrid-electric power.The three ferries in the operator's Jumbo Mark II class, the Tacoma, Wenatchee and Puyallup, were built from 1997 to 1999 at Todd Pacific Shipyards in Seattle. Each vessel can carry up to 2,499 passengers and 202 vehicles, making them the largest in the Washington State fleet.The 460 footers are also the fleet's biggest emitter of greenhouse gas emissions.
Vecchiolla Takes the Helm at VT Systems
ST Engineering announced the appointment of Tom Vecchiolla as President & CEO (Designate) of its US Headquarters, VT Systems. He will take over as President & CEO from General (Ret.) John Coburn on 1 December 2018, who will relinquish his CEO position but remain as non-executive Chairman of VT Systems.Gen. Coburn has been at the helm VT Systems for 17 years since it was set up in 2001 to support the Group’s overseas expansion. Today, the US is the Group’s single largest market outside of Singapore…
Washington State's New Ferry Starts Operations
The newest auto/passenger vessel to serve the United States' largest ferry system has made its debut on the U.S. West Coast.Washington State Ferries (WSF) began carrying passengers aboard the newest state ferry, Suquamish, sailing from Clinton, Wash. on October 4.The 1,500 passenger and 144 vehicle capacity Suquamish, constructed by U.S. shipbuilder Vigor and christened earlier this year, is the fourth and last of the funded Olympic Class ferries, built to replace the midcentury-era Evergreen State Class vessels.
Shipyard Focus: Vigor
Diverse Newbuild & Repair Business Buoys 2018The year 2018 is off to good start at Vigor. The Harbor Island facility welcomed a new drydock christened the Evolution. The $20 million Evolution is the third drydock at Vigor’s Seattle facility and largest in the Puget Sound region, measuring 640 x 115.5 ft. with a lift capacity of 22,000 LT.Other investments in Seattle include a buildout of a dedicated aluminum production facility which greatly expands Vigor’s fabrication capabilities and capacity for workboats…
USACE Participation Soars, Membership Expands at CDMCS
The Council for Dredging and Marine Construction Safety (CDMCS) convened this week in Washington, DC on the heels of its Pipeline Task Force Meeting to discuss OSHA regulatory updates, best practices for employee training documentation, opioid identification and prevention, and incident/injury trends in the industry.Representatives from The Dutra Group, Inland Dredging, Great Lakes Dredge & Dock, JT Cleary, Manson Construction Co., Mike Hooks, Norfolk Dredging, and Weeks Marine attended…
Torrential Rain, Howling Winds as Hurricane Lane Nears Hawaii
Hurricane Lane, a powerful Category 3 storm, spun slowly north out of the Pacific toward Hawaii on Friday, causing torrential downpours and catastrophic flooding on the Big Island.The greatest threat from wind and rain shifted to Maui overnight and then to Oahu, the U.S. state's most populous island, through Friday, the National Weather Service said. Hurricane conditions were possible over Kauai into Saturday, according to forecasts.More than 2 feet (60 cm) of rain had already fallen on a few areas on the windward side of the Big Island…