Maritime Industry Top News
Higher Capesize Demand Pushes up Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.
Haven Marine Signs Service Contract with Svitzer
Haven Marine Services informs it has signed a five year contract with Svitzer which will see the yard service the requirements of Svitzer’s vessels within the Bristol Channel and Irish Sea areas. Haven Marine Services’ Managing Director, Steven Arnold, stated, “This commitment reinforces Svitzer’s faith in the capabilities of the facility, based on exemplary service during the past two years. In addition to the Svitzer fleet…
MAN 28/33D STC Engines for Thai Navy’s New OPV
The Royal Thai Navy has ordered a new 90-m offshore patrol vessel (OPV) to be constructed at Mahidol Adulyadej naval dockyard in Sattahip. The newbuilding, an improved River-class design, will be powered by two MAN 16V28/33D STC engines. Locally called OPV No. 2, the order follows that of OPV No. 1, the HTMS Krabi ordered in 2009, a similar vessel that featured two 16V28/33D engines.
DSC Dredge Receives President’s E-Star Award
DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports. In a ceremony held on May 16, 2016, at the U.S. Department of Commerce’s headquarters in Washington, D.C., Department of Commerce Secretary Penny Pritzker said, “These companies demonstrate the opportunity inherent in selling Made-in-America products to the broad customer base that exists outside our borders. During her remarks, Secretary Pritzker singled out several companies, including DSC.
TT Club Reports Robust Financial Results for 2015
TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year. Knud Pontoppidan…
Norsafe Debuts New RIB in Gothenburg
Norsafe has released its first RIB, the Marathon 900, to compliment its range of boat models for professional and military customers. Launched at High Speed Boat Operations in Gothenburg this month, the new Marathon 900 RIB was demonstrated with two newly developed Mercury outboard engines that can run on diesel fuel. Mercury OptiMax Diesel Outboard, which is developed for the U.S. Armed Forces, is a 3.0 liter V6 engine that produces 175 propshaft horsepower.
Portugal PM Warns Lisbon Dock Workers to End Strike
Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.
Gender Identity Spat Sinks Spending Bill
The rancorous political debate over sexual identity unexpectedly prompted the Republican-controlled House of Representatives to rejected an energy and water spending…
Hercules Offshore Filing for Bankruptcy Again
Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.
Asia-N.Europe Box Freight Rates Soar 37 pct
Freight rates for shipping containers from ports in Asia to Northern Europe jumped 37 percent to $720 per 20-foot container (TEU) in the week ending on Friday, a…
Strike Idles 38 Oil Tankers at Fos-Lavera
Some 38 oil tankers have been held up at the Fos-Lavera oil port in southern France, the country's biggest, including 25 at harbour, up from 12 the previous day…
Wärtsilä Donates Engine to Texas A&M University
Wärtsilä has donated an 8-cylinder Wärtsilä 20 engine and generating set, to the Marine Engineering Technology Department at Texas A&M University at Galveston. The…
BIMCO: BDI Conducts the Demolition Activity
The Baltic Dry Index (BDI) ’s positive effect on capacity being removed from the fleet did not continue into Q2 2016, as capesize demolition came to a halt. The…
IACS Recommendations for Emergency Response
Following a further round of discussions on 'Places of Refuge' at the IMO last week, prompted by a submission from the EU Member States, the European Commission…
Höegh LNG Turns to Profit in 1Q
Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015.
P&I Club warns on Enclosed Space Entry & Testing
The London P&I Club says it continues to see cases of injuries and fatalities associated with entry into enclosed onboard spaces, including cargo holds on bulk carriers…
OOCL Renews VOD Training Contract
Videotel, producer and distributor of training videos, 3D animation, and e-Learning courses to the maritime market and part of KVH Industries, Inc., (Nasdaq: KVHI)…
Fitch Warning on NordLB Shipping Reduction Plan
Norddeutsche Landesbank Girozentrale's (NORD/LB) strategy to reduce its shipping exposures by EUR4bn-6bn over the next three years makes sense, but will likely encounter high execution risks…
VOS Sugar First Charter
The newest addition to Vroon’s fleet, subsea-support vessel (SSV) VOS Sugar, recently started work in the BARD Offshore 1 Offshore Wind Farm (OWF). The vessel is…
Hanjin Vessel Seized in South Africa
Hanjin Shipping-operated bulker Hanjin Paradip has been arrested by a South Africa for alleged unpaid charter fees. The 82,158 dwt bulker, which has been used to transport grain and minerals…
