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Ocean Network Express Completes Merger Approvals
South Africa’s competition watchdog becomes final signatory allowing Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ), Nippon Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can start operations on April 1. "K Line, MOL and NYK have announced that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger…
Pirates Release Tanker and Crew in Gulf of Guinea
Product tanker MT Barrett has been released and all crew are safe following a six-day piracy incident in the Gulf of Guinea, U.K. based Union Maritime has confirmed. Union Maritime said it lost communications with its 11,999-dwt product tanker while the vessel was at anchor off Benin, West Africa on the morning of January 10, after which the company immediately implemented its emergency response plan and alerted regional maritime authorities and other vessels.
India's Oil Imports Surged in 2017
India's oil imports rose by about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country boosted purchases to feed its expanded refining capacity, ship-tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. To meet its growing fuel demand India, the world's third-biggest oil consumer, raised its refining capacity in the second half of 2017.
Maersk, IBM to Launch Blockchain Joint Venture
The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018…
Union Maritime Tanker MT Barrett Disappeared in Gulf of Guinea
London-based tanker owner company Union Maritime vessel stated that, MT Barrett, a product tanker which was at anchor off Benin, West Africa has not been heard from since late on Tuesday 9th January. "On Wednesday we alerted local maritime authorities and are exploring all possible options and efforts as we continuously monitor the situation. Whilst we are tirelessly working to locate the vessel, our primary concern is for the 22 crew on board and ensuring their safety…
World Seaborne Coal Trade Up in 2017
World coal seaborne trade increased by 1.5 percent last year due to a recovery in output in producer countries such as the United States, Russia and China and an accompanying rise in export activity, German coal importers lobby VDKI said on Friday. Looking ahead, Wodopia said that, price-wise, China remains in the driving seat as the size of its domestic production determines how much landed coal the country needs to import.
Royston Expands UK Engineering Facilities
Royston Diesel Power has doubled the size of its UK engineering facilities to support continuing global growth in its marine engine service business and new technology development. As part of a £500,000 ($676,000) investment program the company has opened an additional 15,000 sq. ft. of engineering workshop premises alongside its existing headquarters on the banks of the River Tyne. As well as increasing the company’s engine repair and maintenance capability…
Battle of the Atlantic Memorial Planned in Liverpool
A fundraising campaign to build a international memorial dedicated to the estimated 100,000 people who lost their lives during the Battle of the Atlantic in World War II, as well as those who served and survived, is being launched in Liverpool. The Battle of the Atlantic Memorial (BOAM), the charity leading the campaign, will stage a press call with war veterans on the Liverpool’s iconic waterfront…
As US Opens Up Offshore Waters, Eastern GoM Beckons
President Donald Trump's administration has proposed opening up nearly all of America's offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico. The industry's focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and…
Op/Ed: DPP a Benchmark Toward US Energy Dominance
National Ocean Industries Association (NOIA) president Randall Luthi comments on the U.S. Department of the Interior’s (DOI) 2019-2024 National Offshore Oil and Gas Leasing Draft Proposed Program, which seeks to open nearly all U.S. offshore waters to oil and gas drilling. With 94 percent of our nation’s outer continental shelf (OCS) currently and unnecessarily off limits to oil and gas leasing and exploration…
US Firm Gets Go-ahead to Resume MH370 Search
Malaysia will allow a U.S.-based exploration firm to resume the search for Malaysia Airlines flight MH370, an airline support group told families of the victims on Friday, in a bid to solve one of the world’s greatest aviation mysteries. Flight MH370, carrying 239 people, disappeared en route from Kuala Lumpur to Beijing in March 2014. Australia, China and Malaysia ended a fruitless search in January last year.
US Firm Expects MH370 Search Contract Soon
U.S.-based seabed exploration firm Ocean Infinity on Wednesday said it was moving a vessel closer to a possible search area for missing Malaysia Airlines flight MH370 as it soon expects to be awarded a contract by Malaysia to resume the search. The disappearance of the aircraft en route from Kuala Lumpur to Beijing in March 2014 with 239 people aboard ranks among the world’s greatest aviation mysteries.
Total Extends Energy Scout PSV Contract
Norwegian shipowner Golden Energy Offshore Services has been awarded a contract extension for one of its platform supply vessels with Total in Nigeria. The company announced end of June 2017 to have entered into a contract with Total E&P Nigeria for the PSV Energy Scout - for a firm period of 3 months + optional periods of 3 months each. The Company announced extension end of September 2017. Energy…
Polish Sailor Survives 7 Months Adrift
A Polish sailor told local media that he survived seven months adrift in a broken-down vessel in the Indian Ocean. The 54-year-old Zbigniew Reket said he and his…
McDermott Wins Tyra EPC Work near Denmark
McDermott International announced a substantial contract award from Mærsk Olie og Gas A/S (Maersk Oil) for engineering, procurement, construction and commissioning (EPCC) services for the Tyra Redevelopment project, located offshore in the Danish sector of the North Sea. “This award heralds our return to the North Sea and is a part of our strategic growth strategy,” said Scott Munro, Vice President of Americas, Europe and Africa.
Antwerp to Manage Port of Cotonou
Port of Antwerp International (PAI), the consultancy and investment subsidiary of Antwerp Port Authority, has been appointed by the Council of Ministers of the West African country of Benin to modernise the port of Cotonou. This port is the economic heart of Benin, handling an annual freight volume of around 12 million tonnes. In the longer term, the port authority wants the port to grow further, but both the infrastructure and the organization are outdated.
Ocean Alliance Launches Day Two Product
The Ocean Alliance has launched its new Day Two Product with an estimated 3.6 million TEU carrying capacity provided by approximately 340 containerships deployed on 41 services. The new offering will commence in April 2018. Alliance partners CMA CGM, COSCO, Evergreen and OOCL will offer 20 Transpacific services, six Asia-Europe services, four Asia-Mediterranean services, four Transatlantic services, five Asia-Middle East services and two Asia-Red Sea services.
NIMASA for Blue Economy Framework in Africa
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stated that in order to harness the opportunities derivable from the Blue Economy in Africa there is a need for a proper framework and structure which will enhance the coordination of the sector. The NIMASA DG who stated this during a paper presentation to the Management of the Nigerian Shippers’ Council (NSC) in Lagos titled…
Cruise Sector on Track for Growth in 2018 -CLIA
The cruise industry is expected to stay on course for further growth in 2018, according to the latest State of the Cruise Industry Outlook report from trade association Cruise Lines International Association (CLIA). “It is without question that the cruise industry continues on a growth trajectory, gaining in consumer interest and creating a positive impact on the global economy,” said Cindy D’Aoust, president and CEO, CLIA.
Africa Maritime Cooperation Centre Launched
Africa has launched its maritime technology cooperation centre as part of an ambitious International Maritime Organization (IMO)-EU project to establish a global network of centres to further global efforts in addressing climate change. The centres will act as regional focal points for a wide range of activities including improving compliance with existing and future international energy-efficiency regulations…