Maritime Industry Top News
Rotten Fish to Help Power Hurtigruten Cruise Ships
The Nordic region's most high-profile cruise fleet operator is refitting its ships to make them less polluting, and plans to use a byproduct of rotten fish to help power their new, leaner engines.Norway's Hurtigruten, best known for the ships that ferry tourists along the country's fjords and coastline and up into the Arctic, is investing 7 billion crowns ($826 million) over three years to adapt its…
INSIGHTS: Rear Admiral Mark H. Buzby, USN (Ret)
Rear Admiral Mark Buzby is the Maritime Administrator, U.S. Maritime Administration.Rear Adm. Mark H. Buzby was appointed by President Donald Trump and sworn in as Maritime Administrator on August 8…
Baltic Index Edges Higher on Firmer Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the second straight session on Friday, boosted by stronger capesize demand.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points, or 1.1 percent, to 1,031 points. However, the index has declined for the fourth consecutive week, and has lost nearly 30 percent in the last two weeks.The capesize index rose 5 percent…
TRAktor 2500-SX Design tug Commences Operations for Svitzer
The third tug built by Sanmar Shipyards to Robert Allan Ltd.’s new TRAktor 2500-SX design commenced operations on November 1st in London for Svitzer. The tug, named the Svitzer Meridian, is the second TRAktor 2500-SX in Svitzer’s fleet and is the third of this new class of tugs to be delivered by Sanmar to international clients in just over 4 months.Above the waterline, this class of tugs feature a raised half foc’sle to provide an enhanced standard of sea-keeping when working in exposed waters.
Tidewater & GulfMark Consolidation Creates Largest OSV Fleet
VesselsValue's Head of Offshore Charlie Hockless weighs in on the merger between Tidewater and GulfMark."The consolidation between GulfMark and Tidewater is a positive for the market. With Tidewater’s steadfast and unyielding attitude towards the scrapping of non-performing vessels, this is a good chance for the market to reduce some of its oversupply. Hopefully with this new entity taking the lead…
Color Line and Ulstein Kicks Off Color Hybrid Newbuild Project
Color Line and Ulstein Verft marked the construction start-up on the world's largest plug-in hybrid ship, the 'Color Hybrid'. The hull is placed in the dock hall…
Meyer Turku Cuts Steel for New Carnival Cruise Ship
The cruise ship builder Meyer Turku started the production of a 5,286-lower berth cruise ship for Carnival Cruise Line.According to German shipbuilder, the ship…
Bechtel, Cheniere Fires Up Corpus Christi LNG Production
The the largest construction company in the United States Bechtel has joined its customer Cheniere Energy to announce production of the first liquefied natural gas…
ICTSI Appoints Andrew Dawes as Asia-Pacific Head
Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R.
Hyundai Heavy Industries Gets Cyber Security-Ready Notation from ABS
Classification society ABS and Hyundai Heavy Industries (HHI) collaborated to develop cyber security requirements for the ABS Cyber Security-Ready (CS-Ready) Notation…
Teekay Expects Recovery in Tankers Market
Crude tanker rates have continued to strengthen during the early part of the fourth quarter of 2018, particularly in the Atlantic Basin with Aframax tanker rates…
European Shipowners Welcomes Brexit Deal
The European Community Shipowners' Associations (ECSA) said that the European shipowners welcome the agreement reached on Brexit.“Our primary concern on the short term…
Inmarsat Expands Maritime Cyber Security Offering
Marine Satcom major Inmarsat has introduced two new components to its maritime cyber security service, Fleet Secure, as it continues to develop solutions that combat…
DynaGas LNG Partners in the Red in Q3
Monaco-based owner and operator of liquefied natural gas (LNG) carriers, reported a third-quarter ended September 30, 2018 loss of $654,000, after reporting a profit…
Diana Shipping Fixes M/V Thetis with Hudson
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels…
Global Ship Lease Closes Poseidon Containers Deal
Marshall Islands-based Global Ship Lease (GSL) announced that it has completed the proposed merger deal with Greece's Poseidon Containers.According to a release from GSL…
Passenger Vessel Fire Subject of NTSB Meeting
The National Transportation Safety Board announced Thursday its intent to hold a board meeting, Dec. 11, 2018, to determine the probable cause of the Jan. 14, 2018, fire aboard the passenger vessel Island Lady, in the waters of the Pithlachascotee River near Port Richey, Florida.One passenger died and 14 others were transported to area hospitals in the accident that left the vessel so damaged it was declared a constructive total loss.The Island Lady had 53 people aboard when at about 4 p.m.
Windstar Cruises Announces $250 Million Star Plus Initiative
Major Investment Engages Fincantieri to Renovate & Lengthen Windstar’s Three Star-Class Ships beginning in Fall 2019. Windstar Cruises today announces the $250 Million Star Plus Initiative, a major investment and expansion for the innovative cruise company. The multi-million dollar, multi-year undertaking will impact and enhance all aspects of the guest experience for the highly awarded small ship cruise line’s three Star Class vessels.
Four New Crew Boats for Allianz
Damen Shipyards Group has delivered four new Fast Crew Suppliers (FCS) 2610 to Allianz Middle East Ship Management. The four vessels will undertake work in the ADMA oil field in Abu Dhabi, providing logistics services and safe crew transfer, as part of a five-year contract awarded to ADNOC LS and ADNOC Offshore. The contract will commence as of December 5, 2018. The handover took place between Ahmed T.
SBM Offshore: $45 Mln in Extra Impairments in Q3
SBM Offshore, the Netherlands-based maker of floating oil and gas production facilities, on Thursday said it expected $45 million in impairments in Brazil and the United States.In Brazil, SBM Offshore has decided to temporarily close the Brasa construction yard for "at least the coming two years" resulting in a net book value of zero and an impairment charge of around $20 million, it said in a trading update.Due to slowed activity in the floating production market…
