Maritime Industry Top News
Oil Prices Jump 5% on OPEC+ Output Talks, Iran Tension
Oil prices climbed nearly 5% on Tuesday after news that Saudi Arabia will make voluntary cuts to its oil output, while international political tension simmered over Iran's seizure of a South Korean vessel.Brent crude futures rose $2.51, or 4.9%, to settle at $53.60 a barrel. U.S. West Texas Intermediate crude ended $2.31, or 4.9%, higher at $49.93 a barrel.Saudi Arabia will make additional, voluntary oil output cuts of 1 million barrels per day (bpd) in February and March.
Shipbuilding: Wilson Sons Unveils Plan to Build Six Tugboats
Wilson Sons will start in the first quarter of 2021 the construction of six tugboats, at its shipyards in Guarujá (SP), helping to grow the company's fleet, the largest in Brazil today with 80 tugboats. Click here to read a related story on the depth, breadth and growth of the Wilson Sons fleet from the November 2020 edition of Maritime Reporter & Engineering News.“The new series will contribute to…
Fairbanks Morse Acquires Ward Leonard
Fairbanks Morse, a portfolio company of Arcline Investment Management, has acquired Ward Leonard Operating, LLC, a provider of motor and control solutions for military applications. This acquisition will expand the scope of power and propulsion equipment and aftermarket services that Fairbanks Morse provides to its core customers, including the U.S. Navy, U.S. Coast Guard and the Canadian Coast Guard."The…
KSOE Secures Order for Six 15,000 TEU Box Ships
South Korean shipbuilding group Korea Shipbuilding & Offshore Engineering (KSOE) said Tuesday it has secured a 900 billion-won (US$828 million) order to build six 15,000 TEU containerships for an unnamed Asian shipowner, Yonhap reports.Four of the six box ships will be built by KSOE's Hyundai Heavy Industries unit, and two will be constructed by its Hyundai Samho Heavy Industries arm. The vessels will be delivered from the first half of 2023…
Rising Capesize, Panamax Rates Buoy Baltic index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, climbed on Tuesday to its highest level since mid-October last year as rates for capesize and panamax vessels extended gains.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 44 points, or 3.2% to 1,418, a peak since Oct. 16, 2020.The capesize index was up 91 points…
US Hits Iran With Fresh Sanctions
The United States on Tuesday blacklisted a Chinese company that makes elements for steel production, 12 Iranian steel and metals makers and three foreign-based sales agents of a major Iranian metals and mining holding company, seeking to deprive Iran of revenues as U.S. President Donald Trump's term winds down.In a statement, the U.S. Treasury Department named the China-based company as Kaifeng Pingmei New Carbon Materials Technology Co Ltd.
RIBs: Turn Up the Power
However readers might define “normal”, 2020 was anything but. But the business of rigid inflatable boats (RIB) has been going at full throttle.Matthew Velluto, Director of Business Development and Marketing at RIBCRAFT USA, based in Marblehead, Mass., described a business moving steadily ahead, though it’s had to weave and bob at times during 2020. “We’ve been able to stay open throughout 2020, with no disruptions on our side…
There’s Room to Grow on Brazil’s Inland Waterways
Brazil’s waterways have enormous potential for commercial transport, but are still underused and inefficient in the country’s 12 river basins, according to Brazil’s National Transport Confederation (CNT). Of the 63,000 kilometers (km) that could potentially be used for inland navigation, only 19,500 km (30.9%) of the existing network is currently used commercially for cargo and passenger transport…
Teledyne to Acquire FLIR Systems in $8 Billion Deal
Industrial conglomerate Teledyne Technologies Inc said on Monday it will acquire thermal imaging camera supplier FLIR Systems Inc in a $8 billion cash-and-stock deal to beef up its portfolio of imaging sensor technology.FLIR shareholders will receive $28 in cash and 0.0718 shares of Teledyne common stock for each share held, the companies said.That implies a purchase price of $56.14 based on Teledyne’s last close, and represents a premium of 28.1% for FLIR shareholders to the stock’s Thursday cl
Iran Denies Seized Korean Ship and Crew Are Being Held as Hostages
Iran denied on Tuesday it was using a South Korean ship and its crew as hostages, a day after it seized the tanker in the Gulf while pressing a demand for Seoul…
Sævik Named Managing Director of New Havyard Ship Technology
Karsten Sævik has been named managing director of the New Havyard Ship Technology AS (NHST) shipyard in Leirvik, Norway, replacing outgoing managing director, Erlend Hatleberg, who has chosen to seek new opportunities outside the Havyard Group, the company announced Tuesday.Sævik brings to the role high-level experience in vessel construction and operations, having previously held roles as VP of projects and newbuilding at Odfjell ASA…
Kongsberg Sim-based eLearning Solutions for MAAP
Kongsberg Digital reports that the Maritime Academy of Asia and the Pacific (MAAP) has adopted its new K-Sim eLearning solution, as well as commissioning installation of a cutting-edge K-Sim Safety firefighting simulator at its premises in the Philippines.K-Sim Connect has provided more than 23,000 cloud-based simulations to customers worldwide this year.MAAP – a leading institution of excellence for…
Kingdon Tapped to Rep Isle of Man Ship Registry in China
The Isle of Man Ship Registry (IOMSR) has appointed Jonathan Kingdon as its first permanent representative in China.A well-known naval architect, experienced newbuilding project manager and Mandarin speaker, Kingdon has taken up the post from his base in Shanghai where he also heads up the Asia operation of IDWAL, a marine inspection and project management firm. He will join the Isle of Man Ship Registry’s network of overseas representatives in Greece…
Boskalis Buys Rever Offshore's Subsea Services Business
Dutch marine contractor Boskalis on Monday acquired all the shares of Rever Offshore’s subsea services business.Rever, formerly known as Bibby Offshore, provides solutions in the area of subsea construction, inspection, repair, and maintenance. The company has operated in the North Sea out of Aberdeen, United Kingdom.Through this transaction, Boskalis will acquire two diving support vessels of which one is fully owned (Rever Polaris) and a second chartered (Rever Topaz).
S.Korea Reviewing Planned Diplomat Visit to Tehran After Tanker Seizure
South Korea's foreign ministry is reviewing whether a senior diplomat would be visiting Tehran on Sunday as planned, an official said, after Iranian forces seized…
Bay Diesel Announces Leadership Change
For the first time since its inception in 1982, Bay Diesel has a new president. As voted by their Board of Directors in October 2020, the Senior VP of Sales Willard “Rob” Robins has taken on the role of President, with Scott Wheeler, founder and current president, transferring to a new position as the Chief Executive Officer.This transition has been 17 years in the making. Rob Robins joined Bay Diesel in July of 2003 as a Sales Engineer…
Modernizing a Fishing Vessel for Optimal Performance
Elliott Bay Design Group (EBDG) is supporting O'Hara Corporation as they modernize their 204' factory trawler, Alaska Spirit. The vessel has been successfully fishing Alaska's Bering Sea since 1989 when it was converted from an offshore supply vessel to a head and gut factory trawler. O'Hara has committed to a complete vessel overhaul to improve habitability, efficiency and optimize vessel performance.The multi-year project kicked off in 2017…
Salvors Separate Stern Section from Capsized RoRo Golden Ray
Salvage crews completed cutting operations to separate the stern section from the Golden Ray wreck in St. Simons Sound, Ga., on Saturday night, and the giant piece of the overturned car carrier will be craned onto a barge and hauled away for recycling.Once lifting preparations conclude, the Barge 455-8 will move into position to receive the separated hull section for transit out of the environmental…
US Calls for Iran to Release South Korean-flagged Tanker
The U.S. State Department called on Iran on Monday to immediately release a South Korean-flagged tanker that it seized in the Gulf and accused Tehran of threatening…
Evergreen Takes Delivery of Two 12,000 TEU Ships
Evergreen Line took delivery of its sixth and seventh new 12,000 TEU class F-type containerships on December 15. Ever Forever was built at the Geoje Shipyard of South Korea's Samsung Heavy Industries, and Ever Far was delivered by Imabari Shipbuilding in Japan.The two new large containerships set sail in good order after the delivery procedures were completed. The ships’ 58,000-horsepower main engines…
