Maritime Industry Top News
Credit Demand Leads to Consolidation among Bunker Companies
Suppliers without liquidity will lose out to financially robust organizations offering better terms. Dynamic Oil Trading has highlighted liquidity and credit as the single biggest challenge in the shipping industry when it comes to fuel supply. The company believes that the impending 0.1% ECA (Emission Control Area) regulations and the increase in distillate use, which will require a demand for more credit from ship owners and operators…
VSTEP to Install Simulators for FIDENA Schools
VSTEP won a contract to install FMB and Tug simulators at all three FIDENA Maritime Schools in Mexico. The contract was won by VSTEP and its Mexican partner Edutelsa…
USV Powered by Renewable Energy
Eco Marine Power (EMP) today revealed details of its Aquarius Unmanned Surface Vessel (USV) and announced that it will begin work related to the construction of a prototype. The Aquarius USV is being developed as a cost-effective unmanned surface vessel (USV) and will incorporate a number of technologies from EMP and its strategic partners. These technologies include marine computer systems and lightweight flexible marine solar panels.
First UEC50LSH-Eco Marine Diesel Engine Ordered
The first order for UEC50LSH-Eco low-speed marine diesel engine being developed by Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME), a group company of Mitsubishi Heavy Industries, Ltd., was placed with Kobe Diesel Co., Ltd., a licensee of Mitsubishi UE engine technology located in Hyogo, Japan. The advanced low-fuel-consumption engine will ensure high efficiency even during slow steaming…
Thome Appoints Tanker Fleet COO
Thome Ship Management has added to its senior management tier by appointing Steen Nygaard Madsen as Chief Operating Officer (COO) for the Thome Ship Management Tanker Fleet. Madsen will take up the position on June 1 this year, bringing with him experience in running ships, stemming from his seagoing career as well as his time with A.P Moller in Copenhagen where he was operationally responsible for a large section of its fleet.
JASNAOE Award for MOL Energy Recovery System
Mitsui OSK Lines, Ltd. today announced receipt of the 2014 Japan Society of Naval Architects and Ocean Engineers (JASNAOE) Award for development of a waste heat energy recovery system for marine diesel engine used to generate electric power and assist ship propulsion. The system was installed on a MOL-operated large-scale iron ore carrier. The award was made in ceremonies held in Sendai International Center, Sendai City, Miyagi Prefecture, Japan, on May 26, 2014.
First LNG Cargo Loaded from Exxon PNG Project
LNG carrier Spirit of Hela, which is jointly owned by MOL and Itochu Corporation, has left Papua New Guinea carrying the first LNG cargo from the ExxonMobil-led PNG LNG Project, Mitsui O.S.K.
Libya: Sarir Oilfield Closed, Hariga Port Tanks Full
Libya's Sarir oilfield has been closed and the Messla field has cut production because tanks at the eastern Hariga port are full, an oil official said on Tuesday.
Greenpeace board Transocean Spitsbergen
On the morning of 27 May Greenpeace activists boarded the drilling rig Transocean Spitsbergen. The rig was en route to the Hoop area in the Barents Sea. On Monday Statoil got approval from the Norwegian Ministry of Climate and Environment to start drilling operations tied to the Apollo prospect in the Hoop area. The company is not allowed to drill into oil-bearing layers until the complaint from Greenpeace has been dealt with by the ministry.
Asia: Fuel Oil Demand Down; Amidst Crude Gains
Demand for marine fuel in Singapore, the world's largest bunkering hub, is beginning to take a hit as high flat prices kept buyers on the sidelines, traders said. Reuters data showed.
North American Oil Trains Under Scrutiny
Sheriff Craig Apple assured a room of concerned citizens that county emergency crews were prepared to handle an oil-train accident involving three or four tank cars.
Tankship Operators Frontline Warn of Restructuring
Oil tanker firm Frontline reported first quarter earnings below expectations on Tuesday and said that unless markets improve, it may need to restructure to repay debt.
China Accuses Vietnam of 'Dangerous Actions' at Sea
Vietnam is taking "dangerous actions" at sea, China said on Tuesday, after the two countries traded accusations over the sinking of a Vietnamese fishing boat in disputed waters in the South China Sea.
Synapsis INS for Two New Wind Farm Service Vessels
The German navigation system manufacturer Raytheon Anschütz, says that together with its exclusive Norwegian distributor Syberg AS, it has been awarded a contract…
Further Progress In Ukraine-Russia Gas Row - EU
Europe's Energy Commissioner said on Monday Ukraine and Russia had made further progress in a dispute over gas prices and his proposal that Ukraine to pay $2 billion…
COSCO Guandong Shipyard to Construct PSVs
COSCO Corporation (Singapore) Limited informs that its subsidiary COSCO (Guangdong) Shipyard has had contract options taken up for the construction of 4 Platform Supply Vessels (PSVs).
Canada's CLI Christen New Lifeboat
The Canadian Lifeboat Institution (CLI) has taken delivery of a Tyne-class lifeboat from UK's RNLI and renamed the rescue vessel 'Fraser Lifeboat', informs the Chamber of Shipping of British Columbia.
Port of Oslo VTC Service Threatened by Strike
A threatened strike by municipal/communal services could affect the Norwegian Port of Oslo's Vessel Traffic Control for maritime traffic entering/leaving the port starting from 27 May, 2014.
Monster Barge in Port Abidjan Serviced by GAC-OMA
The massive installation barge 'Hyundai 60' weighs in at 34,125t, is 187m long, equipped with a 1,800t crane, and was earlier engaged in pipe-laying & offshore installation…
UASC Signs Credit Facility for Two Containership Newbuildings
United Arab Shipping Company S.A.G. (UASC) informs it has concluded a bilateral facility worth USD 190 million with Burgan Bank’s Corporate Banking Group to finance the acquisition of two 14…
