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China's INE Considers Singapore for Marine Fuel Futures Delivery
The Shanghai International Energy Exchange (INE) is considering using oil storage sites in Singapore owned by PetroChina Co as a delivery point for its low-sulphur fuel oil futures contract, according to two sources with direct knowledge of the matter.The INE’s move would be the first time a Chinese futures contract would be deliverable outside of China and could boost liquidity for the contract, as…
Singapore Suspends Hin Leong Unit's Bunker Licenses
Singapore has suspended the licenses to sell ship fuel held by a subsidiary of defunct oil trader Hin Leong Trading Pte Ltd since it could no longer meet the licensing requirements, the Maritime and Port Authority of Singapore (MPA) said on Monday.The MPA suspended the licenses for Hin Leong's subsidiary Ocean Bunkering Services Pte Ltd (OBS), an agency spokesperson said in an emailed response to questions from Reuters sent on Oct.
MacGregor Cranes for Asia-built Cargo Ship Quartet
MacGregor has won an order with an unnamed client to deliver cargo handling cranes for four 62,000 dwt general cargo ships to be built in Asia. The company, part of Cargotec, said Friday the order was booked into Cargotec's third quarter 2020 order intake. Deliveries are planned to start during the third quarter of 2021 and completed during the first quarter of 2022."MacGregor has won this contract in a difficult and highly competitive market environment…
How the Major Dry Bulk Commodities Drive the Freight Market into Q4
The world is in the midst of the second coronavirus wave and with that comes the natural question of how the current dynamics will play out for the dry bulk shipping market. Demand and the subsequent cargo flow of the major dry bulk commodities are critical for the freight market, as we enter the final quarter of the year.Iron ore…has without question performed well this year, on occasion even better than gold…
Will Customers Redefine Design and the Science of Marine Propulsion?
It is “pre-COVID ” April of 2018, and 174 member states of IMO adopt a new strategy to reduce greenhouse gases from shipping. The meetings are considered “urgent” and the target is to reduce carbon emissions in half by 2050. Prior to those “targets” shipping dealt with regulations to address SOx and NOx reductions. Most of which have resulted in limited success due to infrastructure problems and a consideration as a temporary fix.The technical world has responded with low sulfur fuels…
NAT Orders First New Ships in Four Years
Nordic American Tankers (NAT) said it has ordered two suezmax newbuilds from South Korean shipbuilder Samsung Heavy Industries, the shipowner's first newbuild orders…
Crowley Completes Challenging Fuel Delivery in the Arctic
Crowley said it overcame a number of challenges to lighter and deliver nearly four million gallons of military specification fuel to Eareckson Air Station on the Aleutian Island of Shemya in Alaska.Shemya’s radar and aircraft refueling station, Eareckson Air Station, and the 180 service members, contractors and civilians who operate it rely on Crowley’s twice-yearly fuel deliveries to supply fuel required for incoming aircraft for the Defense Logistics Agency, U.S.
Alfa Laval Pumps for Two Brazil FPSOs
Sweden's Alfa Laval has secured two orders to supply Framo pumping systems for two FPSOs to operate offshore Brazil.Alfa Laval did not say who the clients were but said the orders had a total value of around SEK 155 million (around USD 17,7 million). The deliveries are scheduled for 2021. The two orders comprise marine pumping systems for firewater and sea water lift service, Alfa Laval said Monday.Sameer Kalra…
Chinese Demand Keeping the Dry Bulk Market Going -BIMCO
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the world. High deliveries and low contracting have left the orderbook at multi-year lows, but – with the poor outlook – the current influx of new dry bulk ships orders is not what is needed.Demand drivers and freight ratesThe biggest story in the dry bulk industry in recent months has been the strength of the recovery in major Chinese imports.
Harvey Gulf to Convert PSV to Offshore Fuel Carrier
Offshore vessel owner Harvey Gulf announced that it will offer a full service fuel carrying vessel solely dedicated to offshore fuel and water deliveries, through the conversion of its 300-foot U.S. flagged platform supply vessel (PSV) Harvey Hawk.Harvey Gulf, which owns two new million-gallon diesel bunkering facility in Port Fourchon, La, said the converted vessel will be able to carry 800,000 gallons of fuel per trip offshore.The company said it will offer competitive pricing on 30-…
Sanmar Builds Final Tug for Svitzer's Sohar Operations
Turkish shipbuilder Sanmar Shipyards said it will soon deliver the fifth and final vessel in a series of new tug builds for operator Svitzer at Oman's Port of Sohar.The newest tug Svitzer Saham is the third 80t bollard pull RAstar 2900SX variant, Sanmar’s Bigacay class, joining sister vessels Svitzer Sohar and Svitzer Shinas, alongside two other earlier deliveries in 2020 of the 50t bollard pull variant of the RAmparts 2200 (named Svitzer Liwa and Svitzer Barka)…
Newport Shipping Inks LNG Deal with LGM Engineering
Newport Shipping announces it will be working with global liquefied natural gas (LNG) market service provider Gloryholder Liquified Gas Machinery (DL) Co., Ltd (LGM…
Container Shipping & Perfecting on-time Performance
Recent reports show that on-time performance in the containership sector continues to deteriorate, causing tension between the carriers and retailers. In general, non-ocean carriers – trucks and trains – are achieving reliability rates well above 90% whereas containerships rarely beat a 70% on-time threshold. For retailers, the threat of having empty shelves is beginning to swing the balance from cheaper…
Damen Christens New Tug for Louis Meyer
A naming ceremony was held at Damen Shipyards Gorinchem for the new tug Peter Wessels on August 14, just four months after the vessel was ordered by Hamburg-based Neue Schleppdampfschiffsreederei Louis Meyer GmbH & Co. KG (Louis Meyer).The accelerated delivery was made possible by Damen’s long-standing policy of both offering a wide range of standard designs that can then be customized to meet the exact needs of each customer, and of building for stock to guarantee fast deliveries.
Louisiana Offshore Oil Port Shut Due to Double Storm Threat
The Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, on Sunday shut its Marine Terminal operations due to the threat of Tropical Storms Marco and Laura in the Gulf of Mexico.Clovelly Hub deliveries remain normal, LOOP said on its website, adding it is executing an inclement weather plan.Marco, which weakened to a tropical storm on Sunday, is set to approach the coast of Louisiana on Monday afternoon…
Bahri Orders Ten Chemical Tankers from Hyundai for $410M
Saudi Arabia's national shipping company Bahri has ordered ten 49,999-dwt Medium Range (MR) chemical tankers from Hyundai Mipo Dockyard, part of South Korea's Hyundai Heavy Industries (HHI).Bahri said the order, signed at a virtual ceremony, was valued $410 million, meaning $41 million per vessel. The first deliveries are expected in the first quarter of 2022.Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI…
Shipping through the Pandemic: Perfect Storm or Wake up Call?
The global pandemic news has been horrific and certainly an historic moment in domestic and worldwide shipping. For many businesses, the action was simple; hang the “closed” sign, furlough or layoff staff and wait for the approval to re-open. Or not, depending how long the virus will linger and continue to cause hundreds or thousands of deaths and rising numbers of cases. Make no mistake, there will be many businesses associated with our industry that will not return.
MacGregor Equipment for RoPax Vessels in Japan
Cargotec's subsidiary MacGregor has secured orders to deliver equipment for two RoPax vessels and two material supply vessels.The orders, from an unnamed client in Japan, are booked into Cargotec's third quarter 2020 order intake.Deliveries under the order are planned to start during the first quarter of 2022 and completed during the first quarter of 2023.Magnus Sjöberg, Senior Vice President, Merchant Solutions Division…
Insurgents Seize Port Near Total's Mozambique LNG Project
Islamist insurgents have captured a heavily-defended port in the far northern Mozambique town of Mocimboa da Praia, close to the site of natural gas projects worth some $60 billion, local media reported on Wednesday.It was one of several attacks on the town - 60 km (37 miles) south of the projects being developed by oil majors like France's Total - this year as insurgents with links to Islamic State have stepped up attacks in the region.
Ship Orderbook Shrinks to 17-year Low -BIMCO
The total orderbook for dry bulk, container and tanker ships has reached its lowest point in 17 years as COVID-19 has massively slowed contracting (-50%) while deliveries of new vessels have proved more resilient (-2%).The orderbooks for bulk carriers and containerships in particular have fallen sharply. At 63.4 million deadweight tons (DWT), the dry bulk orderbook is at its lowest level since April 2004 and 34.7% smaller than 12 months ago.
US Secures Aid Pier on Gaza Beach. Aid Delivery Encounters Challenges Ahead.
Desperate Crowds Halt UN Aid Deliveries in Gaza as Humanitarian Crisis Deepens
Transform Fleet Management with Nautical Systems Web-Based Solutions
Anschuetz USA: Supporting the U.S. Maritime Industry
Use Roxtec seals, services and software
Navigating trade uncertainty: How ports adapt to shifting tariff policies
