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Overcapacity and low demand growth set the tone in the 2010s -BIMCO
Over the past decade, the developing world economy has allowed for strong growth in shipping activities, with the demand for transport never having been higher. However, the benefits of this growth have been limited due to the industry jeopardizing the good times by ordering too many ships.In the 2010s, the supple of ships has largely outgrown demand, putting freight rates under pressure persistently and causing challenging conditions for the dry bulk market.
Keppel Delivers New Jack-Up Drilling Rig to Borr Drilling
Singapore-based offshore drilling rig builder Keppel Offshore & Marine has delivered a newbuild jack-up drilling rig to Norway's Borr Drilling.The rig, named Hild, was built to Keppel's KFELS Super B Class design. The Hild is the sixth jack-up that Keppel has delivered to Borr Drilling, out of the 11 that have been ordered. It is capable of operating in 400 feet water depth and drilling to 35,000 feet.
LNG Tanker to Discharge First US Cargo in China in 13 Months
The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday.This is…
Scana Offshore Wins Offshore Wind Contract
Kvaerner ASA awarded Scana Offshore AS a contract for the supply of mooring equipment to Hywind Tampen, Equinor's new floating wind farm. The contract is Scana Offshore's first hardware contract in the floating wind power market.The delivery from Scana Offshore will consist of 33 hull brackets, which are used to attach anchoring lines to the hulls on the 11 offshore wind turbines that make up the Hywind Tampen wind farm.
Vestdavit Secures Davit Contract with French Navy
Vestdavit won a tender from Chantiers de l’Atlantique to supply davit systems for four new logistic support ships due delivery to the French Navy under the FLOTLOG (Flotte Logistique) program. The double-hulled vessels will replace the Navy’s current, single-hulled LSSs and will be deployed to support France’s blue-sea combat fleet commitment to OCCAR (Organization for Joint Armament Co-operation).Vestdavit…
Coronavirus Disrupts Supply of Ships and Demand -BIMCO
The coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development, says shipping association BIMCO.Contracting activity has fallen, demolition activity, which had been high, is now being limited by restrictions around the world and deliveries of new vessels…
Vitol Marine Fuels Acquires Sinanju Tanker Holdings
Vitol Marine Fuels Pte Ltd, a subsidiary of the Vitol Group, has acquired 100% of Singapore-based bunkering specialist Sinanju Tankers Holdings.The Singapore Bunkering license holding entity has been renamed Vitol Bunkers (S) Pte Ltd and from 1st April 2020 all bunker deliveries will be carried out by Vitol Bunkers (S) Pte Ltd.Through the transaction, Vitol has acquired an expert bunker tanker manager and operator with extensive experience of physical bunker supplies in the port of Singapore…
Outlook for India's Ship-breaking Turns Negative
The outlook for India's ship-breaking industry has turned negative amid volatile scrap prices and a falling rupee, says ICRA.The country's ship-breaking activity, while tepid during CY2019 due to subdued demand and depressed scrap prices, gathered momentum at the start of CY2020 following the implementation of the International Maritime Organization (IMO) sulphur cap regulations from January 2020.
Sleipnir Completes Largest Ever LNG Bunkering
The world's most powerful semi-submersible crane vessel received the largest liquefied natural gas (LNG) bunkering ever completed.On Thursday, Titan LNG performed the bunkering of Heerema's Sleipnir, using the Coral Fraseri, Anthony Veder's LNG carrier in the Port of Rotterdam. The total quantity of LNG delivered was almost 3,300 metric tons, making this the largest LNG bunkering to have ever taken place.
Nigeria Imposes Cargo Vessel Restrictions to Curb Coronavirus Spread
Nigeria will only allow cargo vessels that have been at sea for more than two weeks to dock in its ports to prevent the spread of coronavirus, President Muhammadu Buhari said on Thursday.Health experts fear a widespread outbreak in Africa's most populous country of 200 million people which could overwhelm its creaking healthcare system.Nigeria has closed its land borders and international airports…
Chevron Marine Launches Digital Platform
Fuels and lubricants supplier Chevron Marine launched a suite of digital solutions offering ship owners and operators tools with which to analyze, manage and ultimately help to improve their operational performance.Chevron Marine Cloud Solutions, including the customer order management platform OnePort launched last year, were developed under Chevron’s Business Technology Innovation (BTI) initiative as part of an ongoing, multi-year digitization investment program.
Shipbuilding Contract: Incat Tasmania Scores Seaworld Express Ferry Deal
Incat Tasmania and Seaworld Express Ferry announced an order for a new generation fast ferry, a 76-m high speed wave piercing catamaran ferry to accommodate up to 700 passengers and 79 cars when it enters service on the new route between Jindo and Jeju early 2022.Seaworld Express Ferry was selected as operator for the route, and its chairman Hyuk Young Lee said “We were most impressed with Incat Tasmania’s modern shipyard facilities…
Western Supply Chains Buckle as Coronavirus Lockdowns Spread
Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.While China's draconian steps to stop the spread of the virus are now allowing its economy slowly to come back online, supply chains are backing up in other…
Could Coronavirus Disruption Offer an Opportunity for China Shipyards?
A decline in the rate of infections in China provides yards with the opportunity to reorganize their delivery schedules to address an approaching output slump, says Maritime Strategies International (MSI)The welcome news of declining rates of coronavirus infections in China, together with steps already in place and still to come in terms of government intervention, provide the barest glimmer of good…
Hapag-Lloyd Advises that Coronavirus to Slow Growth through H1
German container shipper Hapag-Lloyd on Friday said the coronavirus outbreak would curb business growth at least until mid-year after reporting a jump in 2019 profit and proposing a higher dividend.Larger rival Maersk on Friday also warned of a first-quarter hit from the outbreak and suspended its 2020 earnings outlook.Hapag CEO Rolf Habben Jansen said that impact from the coronavirus was impossible to determine for the time being…
BIMCO Revises 2020 Forecast
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the full consequences. Nevertheless, we see a need to update our 2020 forecast to make some of this massive uncertainty tangible.What is going on in addition to the coronavirus pandemic?Geopolitical tensions that made the OPEC+ alliance break down, has subsequently made the crude oil tanker spot freight market erupt.
Sovcomflot Updates Fleet Status
PAO Sovcomflot (SCF Group), a Russian maritime shipping company specializing in petroleum and LNG shipping, announced that it has taken delivery of four newbuildings…
Shipbuilder Fincantieri Suspends Operations for Two Weeks
Italian shipbuilder Fincantieri announced it has suspended production activities at its in-country sites from March 16 to March 29 due to the coronavirus pandemic.Fincantieri's full statement is below: Following the Coronavirus emergency and in order to apply the measures that the Italian Government has gradually determined, Fincantieri has promptly carried out a series of actions aimed at preventing and countering the chance of infections in its shipyards.In line with this…
Damen Launches Support Vessel Blue Ocean
Dutch shipbuilding major Damen Shipyards Group launched its new 55-meter support yacht named Blue Ocean in its yard at Antalya, Turkey and will soon be ready for…
ABB Power & Control for Japan's Wind Turbine Installation Vessel
ABB will equip Japan-built self-elevating wind turbine installation vessel with its power and control technologies.The company said Tuesday that the 28,000-GT jack-up unit on order from builder Japan Marine United Corp, and due for delivery to Shimizu Corp. in 2022, will feature ABB's closed ring configuration for the vessel’s dynamic positioning (DP) operations This will enable safe and predictable…
US Secures Aid Pier on Gaza Beach. Aid Delivery Encounters Challenges Ahead.
Desperate Crowds Halt UN Aid Deliveries in Gaza as Humanitarian Crisis Deepens
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Anschuetz USA: Supporting the U.S. Maritime Industry
Use Roxtec seals, services and software
Navigating trade uncertainty: How ports adapt to shifting tariff policies
