Maritime Industry Top News
Baltic Index Inches Up
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched up on Friday on firm rates for panamax and supramax vessels. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 4 points, or 0.33 percent, at 1,201 points. The Baltic index, however, posted its first weekly fall in three weeks, falling 0.5 percent.
Russia Ramps up Fuel Exports in Fight for European Market
Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation of its biggest refineries in 2011 following a fuel shortage crisis. It also changed its tax system to favour production of cleaner and higher-quality fuel.
German Minister Welcomes RWE's Stronger Position in Renewables
Germany's acting Finance Minister Peter Altmaier said on Monday that it was fundamentally positive that RWE would become a much stronger player in renewables after…
GasLog Orders LNG Carrier Newbuild from Samsung
Ship owner GasLog Ltd. announced it has ordered another newbuild liquefied natural gas (LNG) carrier from South Korean shipbuilder Samsung Heavy Industries, with options for additional newbuilds. The 180,000 cubic meter capacity Flex Plus vessel with XDF propulsion is the second LNG carrier ordered by GasLog this year. The two vessels are unchartered and scheduled to be delivered in the third quarter of 2019 and the second quarter of 2020 respectively.
Cohort Companies to Deliver Maritime Defense Technologies
Cohort plc companies MASS and SEA have been selected to form part of a new UK Ministry of Defense maritime research and development program being managed by defense technology company QinetiQ. QinetiQ has been awarded a contract by the Defense Science and Technology Laboratory (Dstl) to manage the Progeny Maritime Research Framework contract to enhance the effect of technology in the maritime defense environment.
Remains of Three Crew Found on Maersk Honam
Maersk said the remains of three of four missing crew members have been found aboard the Maersk Honam after a fire broke out in one of the vessel’s cargo holds last week. The search for the fourth crew member continues on board, though the search at sea has been suspended. “Given the time passed and the severe fire damages of the vessel we must conclude by now that we have lost all four colleagues who have been missing since the fire onboard Maersk Honam which began on March 6.
MN100 2018 Application is Online and Open
Each year the August edition of Marine News magazine, the leading voice in the North American workboat market, features the very best 100 leaders and innovators, including workboat owners and operators, builders, OEMs and repairers, and product and service providers. This year's MN100 edition application portal is live and open. Participation is free, but to be considered you must apply at http://mn100.maritimemagazine.com/. The deadline is July 5.
MISC Berhad Names FSO Benchamas 2
MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil and gas sector as well as its first partnership with COTL in the offshore space. The contract for the lease and operations FSO was secured through an international…
Woodside to Operate Scarborough
Woodside and BHP have entered into an agreement in relation to the proposed development of the Scarborough gas field. BHP waived its right of pre-emption and provides…
Baltic Cruise Boom Boosts Chances for Port Cities
Good opportunities for local port cities are up for grabs as a cruise shipping boom sweeps the Baltic. Both Rostock and Kiel are already profiting from it. Between…
Noble Group To Sell Ship For $24 Million
Struggling commodity trader Noble Group Ltd said it would sell to Bianca Corp a Kamsarmax dry bulk carrier for $24 million in cash. The Hong Kong registered ship has a capacity of 81…
Safety Award for APM Terminals Poti
APM Terminals Poti has been named the 2018 Corporate Social Responsibility (CSR) Award winner for the Best Project in the Human Rights Category: Increasing Safety Awareness for Truck Drivers.
South Korea Restuctures Mid-Sized Shipbuilders
The South Korean government decided to restructure two financially-troubled mid-sized shipbuilders, said a report in Business Korea. While filing for court receivership…
Kiel Gets Second Cruise Passenger Terminal at Ostseekai
A second handling centre for cruise ship passengers and their luggage is being built at Kiel’s Ostseekai Cruise Shipping Terminal. Artist’s impressions of how the…
Navios Maritime Containers Raises USD 30mln
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has already completed a private placement of common shares, totaling $30.0 million…
Oakland Port Digitalized to Move Cargo Faster
Port of Oakland officials has promised a digital shipping platform by mid-year to speed up global trade flows. The Port said it’s building an online portal for transactions…
Harvey Gulf's Guidry Remains Confident as Bankruptcy Plays Out
In a March 10th E-mail to customers and media alike, Guidry charts the course ahead. In a terse E-mailed letter addressed to 'Valued Harvey Gulf Customers,' the U.S.
U.S. Navy Assesses Fleet Structure
Following the release of new national security and defense strategies, the Navy is undertaking a new Fleet Structure Assessment that could alter its stated goal of a 355-ship fleet…
BSEE: Report on Subsea Bolting Technology Released
In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned…
Bolivia Joins International Mobile Satellite Organization
The Plurinational State of Bolivia has become the 104th country to join the International Mobile Satellite Organization (IMSO), the inter-governmental body that…
