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Saudi Arabia's Tanker Power Play Could Backfire
Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the coronavirus outbreak has destroyed oil demand and international prices have lost more than half their…
ACL Expects to Emerge from Chapter 11 Soon
American Commercial Lines Inc. (ACL) said on Friday it expects to complete its recapitalization and emerge from Chapter 11 in the coming weeks after the U.S. Bankrptcy Court for the Southern District of Texas, Houston Division confirmed the company's pre-packaged plan. ACL announced it would implement the recapitalization plan in February. Upon emergence, the company will receive $200 million in new…
Insights: Gavin Higgins, CEO, Everett Ship Repair
Everett Ship Repair (ESR) is a relatively new name in the U.S. ship repair business. Established in October 2019, the Pacific Northwest shipyard is owned by Ice Cap Holdings, LLC, which is also the parent company to another shipyard not too far away: Nichols Brothers Boat Builders (NBBB).Both ESR and NBBB are headed up by CEO Gavin Higgins, who is responsible for the development of new business opportunities and cultivation of new business relationships…
Wärtsilä Propulsion Selected for Molslinjen Fast Ferry
Wärtsilä said it will provide the propulsion solutions for a new 115-meter high-speed ferry being built by Austal at the Australian shipbuilder’s yard in the Philippines for Danish operator Molslinjen.The newbuild will feature four Wärtsilä 31 engines, recognized by Guinness World Records as being the world’s most efficient four-stroke diesel engine, and four Wärtsilä WXJ1500SRI waterjets. Wärtsilä will also supply its ProTouch bridge controls system.
Life on Hold for Many Philippine Seafarers
He had a visa and just the job—six months of work at sea and thousands in pay to send home. Then the virus struck.And like millions of other migrant workers who leave the Philippines to work abroad and send their earnings back to a myriad of dependents, a whole family saw its lifeline cut.“I was broke. Things were not easy for me and my family. I badly needed to go back to work at that time so I was looking forward to that trip…
LR Names Marine & Offshore President for SAMEA
LR has appointed Mike Holliday as Marine & Offshore president for South Asia, the Middle East, and Africa (SAMEA).In his new role, Holliday will lead LR’s Marine and Offshore operations across SAMEA, primarily based in Singapore, and be responsible for developing the business in current and emerging markets as well as identifying growth opportunities in the region including key gas, naval and offshore projects.Holliday’s remit will also include LR’s traditional portfolio such as classification…
First Cox Diesel Outboards Bound for N. America
Cox Powertrain said Tuesday it is shipping its first CXO300 production diesel outboards bound for North America to a distributor in Florida for the U.S. market.Following the delivery of Cox Powertrain’s first production CXO300 outboards to Singapore-based distributor Sime Darby, Cox has dispatched its next shipment to North America, where Florida-based distributor Ring Power is awaiting the engines'…
South Africa Quarantines Two Ships
South Africa is holding the cruise liner MV AIDAmira and a cargo vessel off Cape Town after a crew member on board one of the ships showed signs of the coronavirus…
DP World: Djibouti Dispute Hurts Firm's Borrowing Ability
Global ports operator DP World has struggled to borrow from banks to finance new investments since a port it partially owns in Djibouti was seized by the government there in 2018, its chairman said on Monday."We are investing but it is costing us more. That’s the damage," DP World Chairman Sultan Ahmed bin Sulayem told Reuters in Rwanda's capital Kigali, where the company opened a $35 million logistics platform on Monday."Fewer banks will lend us money today…
Training Tips for Ships: Tip #5
– The Simple Secret to Making Randomized Exams Fair – In last month’s Training Tips for Ships, we made the important point that we must never give different people the same exam. If we use an exam over and over, our trainees will very quickly learn what questions are on the exam and share the answers with their friends. Suddenly exam scores begin going up, and time spent learning goes down – both for the wrong reasons.
US Sanctions on Iranian Shipping Network Take Effect
U.S. sanctions imposed on Iran's shipping network took effect on Monday, months after they were announced in December following accusations of supporting proliferation of weapons of mass destruction.U.S. Secretary of State Mike Pompeo in a statement on Monday warned commercial and maritime industries, governments and others that they risked U.S. sanctions if they did business with the Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary…
Ballerina's First Electric Ferry Enters Service
With around half a million plug-in electric cars are on the roads worldwide, electric propulsion is now slowly spreading into other types of transportation, one of which is electric boats. Stockholm ferry operator Ballerina has introduced a new, electrically propelled passenger ferry, built in composite material, that runs smoothly, comfortably and with essentially none of the noise that accompanies combustion-engined vessels.
The Quest to Fund Inland Waterways
Infrastructure Projects: Perhaps Not So Quixotic After All? Over the course of 2014, significant steps forward were taken in the quest to find additional sources of funding for inland waterways infrastructure projects. First came the long awaited and much-celebrated Water Resources, Reform and Development Act of 2014 (WRRDA) in June, which included several provisions to address the funding needs of the ever-worsening condition of the inland waterways infrastructure.
Strong Markets Helps Change Yard Philosophy
News that a new alliance between Dutch builder Volharding Shipyard and Um Deniz Sanayi of Turkey has been formed is further evidence that some shipbuilders are considering…
Widening Scope of Waterway Study
The U.S. Army Corps of Engineers has "made good progress" in broadening a study of possible navigation improvements on the Upper Mississippi River-Illinois Waterway…
Interesting Launch for Interesting Tugs
The ownership of the Canadian firm Island Tug and Barge has changed with the purchase by the U.S. parent company Tidewater Inc. The firm is now known as Island Tug.The second tug, with the hull and superstructure completed and with the Cummins K38s installed still requires more work, was also launched in early May of 2018.The vessels were built in a warehouse on the Fraser River. With no launching facility and a railway track between the yard and the steep bank of the river…
Carnival Assigns Previously Ordered Vessel to P&O Cruises
Carnival Corporation & plc has assigned the newbuild slot for the previously announced 116,000-ton cruise ship to U.K.-based P&O Cruises. To be built by Italian shipbuilder Fincantieri…
Nils van Vliet Appointed CEO of Railport Antwerp
Railport Antwerp, a joint initiative by Antwerp Port Authority, the Left Bank Development Corporation and the industry associations Essenscia Vlaanderen and VOKA-Alfaport, is to expand its activities.
Lamprell Delivers Wind Turbine Installation Vessel 'Bold Tern'
The Wind Turbine Installation Vessel Windcarrier 2 has been delivered to Fred Olson from Lamprell's Jebel Ali UAE facility. The vessel will depart to its operating location in the North Sea shortly. With this delivery, the Group has now completed a total of five new build offshore wind turbine installation vessels with a sixth vessel currently under construction. Aside from the two Fred Olsen vessels, three others were delivered to Seajacks with one more, the "Hydra", under construction.
Ground-Breaking Survey Reveals What Employees Think
The latest Maritime Employment Report from international specialist recruiter, Faststream, places a sharp focus on the gap that exists between perception and reality across the industry. Not surprisingly, seafarers seeking a shore career tend to focus on the traditional and more accessible roles such as superintendent, fleet manager and harbour master. They perceive the more remote professions of…
