Maritime Industry Top News
ABS Leads Ballast Water Management Workshop
ABS, a provider of classification and technical services to the marine and offshore industries, hosted a Ballast Water Management (BWM) Workshop for ship owners with BWM systems installed onboard their vessels. The full-day session covered a range of issues, including installation, commissioning and operational challenges associated with BWM systems. āThis workshop is another example of how ABS serves as a trusted advisor and independent voiceā¦
Buoy Shot and Sunk off Block Island
A U.S. Coast Guard crew was conducting regular aids-to-navigation maintenance when they found a buoy submerged near Block Island, R.I. When the crew raised the 12,000-pound buoy on Monday, they discovered it was riddled with 20 bullet holes. Clay Head buoy number 7 marks a large rock three feet below the water's surface and is supposed to be key navigational tool for mariners. Instead it turned intoā¦
Russian Intelligence Ship Sinks, All 78 Crew Rescued
A Russian naval intelligence ship sank off Turkey's Black Sea coast on Thursday after colliding with a vessel carrying livestock and all 78 personnel on board the navy ship were evacuatedā¦
LR Signs Two MoUs at Singapore Maritime Week
LR CEO, Alastair Marsh, signed two Memorandums of Understanding (MoU) during Singapore Maritime Week. The first promotes research and development (R&D) and innovation, building upon strong existing collaborations (e.g. enhanced understanding of cargo liquefaction to increase vessel stability and safety, extreme wave impact to optimize time and cost of semi-submersible rig design) and extending into big data and intelligent systems for real time condition monitoringā¦
Long-haul Arbitrage Trades to Benefit VLCCs
The OPEC production cuts since the start of 2017 has tightened supplies of medium and heavy sour crudes, leading to a narrowing Brent-Dubai EFS. This has made long-haul crude trades from the Atlantic Basin to the Far East economically viable, resulting in a surge in flows from the North Sea as well as Americas which has in turn boosted ton-mile demand in the VLCC sector. Growing ton-mile demand has helped to halt declining rates in a sector flooded with newbuild deliveries in Q1.
Frontline Takes Legal Battle over DHT to Marshall Islands
John Fredriksen's Frontline is switching its legal battle for control of tanker operator DHT Holdings from New York to the tiny Marshall Islands after making a fifth offer for the company this week. Frontline, controlled by Norwegian billionaire Fredriksen and owner of a 14.5 percent stake in DHT, has over the past year tried to acquire all of DHT's shares to forge the world's largest shipping tanker company.
Poland to Receive first US LNG Delivery in June
Poland will receive its first liquefied natural gas supplies (LNG) from the United States in mid-June as a result of a deal Polish gas firm PGNiG signed with Cheniere Energyā¦
Daewoo Shipbuilding books first Quarterly Profit in 4 years
South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd posted its first quarterly profit in more than four years on Thursday, as on-time delivery of higherā¦
Becker Marine Systems Eyes Growth in Asia
Becker Marine Systems says it is continuing its successful entry into Asian countries such as China, Japan and South Korea, despite an ongoing crisis in the shipbuilding industry. Now the Hamburg-based company is opening a branch office in Kobe, Japan, and has formed a manufacturing partnership with Murakami Iron Works for producing containership rudders. Becker Marine Systems has had a presence in the Asian maritime industry for decades.
AIDAperla Delivered to AIDA Cruises
AIDA Cruises has taken delivery of the 12th vessel of its fleet, AIDAperla, from Japanese shipbuilder Mitshubishi Heavy Industries (MHI). The vessel was commissioned April 27 at a ceremony in Nagasaki, Japan in the presence of Michael Thamm, CEO Costa Group; Felix Eichhorn, President AIDA Cruises; Shunichi Miyanaga, President and CEO MHI; and Kazuaki Kimura, President and CEO, Industry & Infrastructure MHI.
Baltic Index Down for Eighth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for an eight straight session on Thursday as rates for panamaxes and smaller vessels slippedā¦
Russian Ship Sinks after Collision, All Personnel Safe
A Russian ship which collided on Thursday with a Togo-flagged livestock vessel has sunk, Turkey's coastal safety authority said. It said all 78 personnel had been evacuated from the ship.
Hyundai Heavy's New Orders Tallied at USD 2.3 bln
Hyundai Heavy Industries (HHI) Group, the worldās largest shipbuilding group, announced today that it won 39 ships worth $2.3 billion for January ā April periodā¦
International Maritime University Pacts with Latin America
The International Maritime Organization (IMO) has announced that International Maritime University of Panama (UMIP) has been selected to host the regional Maritimeā¦
MPA Honors ABS
ABS has been awarded the Offshore & Marine Engineering Award by the Maritime and Port Authority of Singapore (MPA). This award recognizes organizations that haveā¦
Singapore Ranked World's Top Maritime Capital
Singapore has once again emerged in top place in a ranking Menonās Leading Maritime Capitals of the World Report (Menon Report) for 2017. The study, by Norwegian consultancy firm Menon Economicsā¦
How Deep is the Ocean?
Hydrogaphy, the science of surveying and charting bodies of water, is essential to the safe, sustainable and cost-effective use of the worldās oceans. This was Internationalā¦
MPA Honors Patrick Phoon
Ocean transportation firm, āKā Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centreā¦
IMOās Legal Committee to Promote HNS 2010
International Maritime Organization (IMO)'s Legal Committee is expected to consider adopting a resolution to encourage the ratification and implementation of the 2010 HNS Conventionā¦
Electric Boat Bags US Submarine Contract
The U.S Navy has awarded General Dynamics Electric Boat a $95.5 million contract modification to continue development of the Common Missile Compartment for the U.S.
