Maritime Industry Top News
Third LNG-powered Ship Ordered for AIDA Cruises
The number of liquefied natural gas (LNG) powered ships on order for AIDA Cruises has risen to three following the latest shipbuilding contract announced today by the German cruise line’s parent company Carnival Corporation & plc. Carnival said it signed a shipbuilding contract with German shipbuilder Meyer Werft GmbH to build another new 180,000-ton ship that will be fully powered at sea and in port by LNG. The vessel will be built at Meyer Werft’s Papenburg shipyard for delivery in 2023.
Lower Capesize Rates Weigh on Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, broke a six-day winning streak on Tuesday, dragged lower by lower rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, shed three points or 0.25 percent to end at 1,188 points. The capesize index lost 85 points, or 5.06 percent, to end at 1,595 points.
Managing the Big Risks of Marine Construction
A busy market, fraught with risk, needs specialized protection. The marine construction business is booming in the United States for many reasons. Nationwide, ports are expanding, deepening their channels to accommodate the bigger, so-called post-Panamax vessels. And, that means more than just deepening the channel. Docks, piers, cranes and other shoreside infrastructure need to be bolstered in order to stand up to heavier vessel impacts.
Austal Climbs on Strong H1 Profit
Shipbuilder Austal Ltd shares have risen as much as 4.5 percent to A$1.85, its highest since February 1. The company's H1 net profit after tax has surged 174 percent, driven by strong performance in shipbuilding programs for U.S. Navy. Over 900,000 shares have changed hands, compared with the 30-day average of 229,350 shares The stock is among top percent gainers on the ASX All Ordinaries Index.
DSME Wins $368 Mln Order
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) has won a 394 billion won ($368 million) order for two liquefied natural gas (LNG) carrier vessels from an unnamed firm…
LNG Tanker Boris Vilkitsky Sailing for Rotterdam
The liquefied natural gas (LNG) tanker Boris Vilkitsky is due to arrive at Rotterdam on March 8, Reuters shipping data showed on Tuesday. The tanker, which has capacity for about 170,000 cubic metres of gas, is arriving from Russia. (Reporting By Susanna Twidale)
Tanker Operator, Master Sentenced for Pollution
A tanker vessel operator and master were convicted this week for maintaining false and incomplete records relating to the discharge of oil and garbage from an oil…
Indonesia Delays New Rules to Limit Coal, Palm Oil Shipments
Indonesia has postponed indefinitely the application of new rules that would limit shipments of coal and palm oil exports to only national shipping companies, a Coordinating Economic Ministry official said on Tuesday. The rule will only be applied once vessel requirements have been calculated and satisfied by the trade ministry, shipping industry and coal and palm oil exporters, Elen Setiadi, acting chief of trade and industry at the Coordinating Economic Ministry, told Reuters by phone.
Japan Suspects Another North Korea Sanctions Breach at Sea
Japan has discovered another North Korean tanker it suspects of transferring goods with a vessel in defiance of U.N. Security Council resolutions, the Foreign Ministry said on Tuesday. It was the fourth time Japan has suspected such an illegal transfer in recent weeks and comes as the Trump administration and key Asian allies prepare to expand interceptions of ships suspected of violating sanctions on North Korea.
Subsea 7 Bags Offshore Norway Deal
Subsea 7 S.A. announced the award of a contract by Wintershall for the Nova (formerly known as Skarfjell) oil and gas field development. Nova is located in the north-eastern part of the North Sea…
Palau Keeps an Eye Out with Polestar
Palau International Ship Registry (PISR) has expanded its technology offering by linking with Pole Star to offer a comprehensive sanctions compliance and risk management service for its fleet vessels.
MOL, FEIA Team to Develop North Sea Route
Mitsui O.S.K. Lines, Ltd. signed a Memorandum of Understanding with the Far East Investment and Export Agency under the Ministry of the Russian Federation for the…
MacGregor, SeaFocus Join Forces
MacGregor, part of Cargotec, and an international maritime business platform, SeaFocus, have announced a collaboration agreement that will support the companies…
Six rescued from Sinking Vessel off Bahamas
A good Samaritan sailing vessel rescued six people from a sinking sailing vessel early Monday 14 miles west north west of Hog Cay, Bahamas. Watchstanders with the…
Carnival Corp. Aim: Best Wi-Fi at Sea
Carnival Corporation & plc will establish a new industry apex in connectivity capabilities today at sea when it attempts to make an unprecedented level of bandwidth…
Log-In Logística selects COMPAC
The containership segment’s commitment to ocean sustainability has been underscored with another order for Thordon Bearings’ COMPAC water lubricated propeller shaft bearing concept.
First Ship Lease Trust Narrows Q4 Loss
First Ship Lease Trust, Singapore-based business trust which owns a fleet of vessels across major shipping sub-sectors, narrowed its fourth-quarter loss to US$33.87 million…
Milaha Reports USD 129 mln Net Profit for 2017
Qatar Navigation (Milaha) reported a net profit of QAR 470 million (USD 129 mln) for the twelve months ended December 31, 2017. Operating revenues decreased by…
Ocean Rig Signs New Drilling Contract with Tullow Namibia
Ocean Rig UDW, an international contractor of offshore deepwater drilling services, today announced that it has signed a new drilling contract with Tullow Namibia…
Hyundai Merchant Marine’s Expansion Plans: Drewry
Korean carrier Hyundai Merchant Marine (HMM)’s expansion plans are incompatible with market stability. Will it settle for more limited ambitions? An Analysis by Drewry.
