Jul
19

MOL COMFORT AT REST

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Mitsui O.S.K. Lines, Ltd. (MOL) reported that the fore part of the containership MOL COMFORT sank in the high seas of the Indian Ocean at 19:00 UTC on July 10 (04:00 on July 11 JST). The burned-out wreck disappeared in a water depth of about 3,000 meters, according to MOL. “We have reported this fact to the flag state of the Bahamas, Indian authorities and parties concerned. We wil...
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Jul
15

North Europe Ports Shipping competition to intensify

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
[Source http://www.shippingherald.com] North Europe transhipment competition to intensify With little market growth likely over the next few years and significant port capacity additions due to come on stream, competition between North European container terminals is set to intensify. In the search for volume, it will be the transhipment sector which is likely to be the first target...
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Jul
10

ICAO, IMO and WCO Chiefs Discuss Global Supply Chain Security

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The heads of the International Civil Aviation Organization (ICAO), the International Maritime Organization (IMO) and the World Customs Organization (WCO) have met in London to discuss supply chain security and related matters, which cut across the mandates of the Organizations. IMO Secretary-General Mr. Koji Sekimizu welcomed his counterparts, Mr. Raymond Benjamin, Secretary-General, IC...
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Jul
10

Four COSCO Zhoushan’s Shipbuilding Contracts Become Effective

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
COSCO Corporation Limited announced that four shipbuilding contracts signed by COSCO (Zhoushan) Shipyard Co., Ltd with a European ship owner for the construction of four 111,000 dwt tankers have been made effective recently at a value of over US$180 million in total. Delivery of the above four tankers are expected to commence from first half of 2015. In addition, the ship owner has an o...
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Jul
10

China: SWS Starts Its First PSV Construction Project

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) held the Technical Clarification on Contract & Kick-Off Meeting for its PSV Project on June 18. The meeting marks official start of the PSV project along with official entrance of SLO into the offshore auxiliary vessel construction field, which was realized via product portfolio restructuring of SWS. During the meeting, all branch man...
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Jul
10

EIB Supports Construction of LNG Terminal in Lithuania

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The European Investment Bank (EIB) is lending EUR 87 million to Klaipedos Nafta for the construction and operation of a new liquefied natural gas (LNG) import facility located in the port of Klaipeda. This investment is critical for Lithuania to diversify and secure its energy supply as well as provide backup in the event of gas supply failures. The LNG terminal comprises a floating sto...
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Jul
10

DMHI Delivers New Containership to Zodiac Maritime

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Daewoo Mangalia Heavy Industries (DMHI) delivered on 28 June 2013 the first of four 8,600 TEU containerships, the 116,079 DWT “CSAV TOCONAO” to Zodiac Maritime Limited (UK). The vessel was ready for delivery well before the contractual delivery date. Nevertheless, further to the mutual agreement between charterer of the vessel, Zodiac Maritime Limited and DMHI, for...
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Jul
10

Prospector Offshore Extends Three Rig Construction Options

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Prospector Offshore Drilling S.A. (PROS) announced today the company has reached an agreement with Dalian Shipbuilding Industry Offshore Co., Ltd. (DSIC Offshore) to extend the expiry dates on two of its rig construction option  agreements that were previously due to expire on 30 June 2013. These rig construction option agreements (New Option Agreement No. One and New Option Agreem...
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Jul
10

Cold, Hard Realities of Arctic Shipping

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Arctic Sea Routes: mage courtesy of UNEP In a recent article in USNI 'Proceedings Magazine' Stephen M. Carmel said: "Maritime pundits believe a shrinking ice cap translates to a frenzy of traffic as shippers rush to exploit shorter sea routes. They’re wrong." Excerpts follow: On 16 September 2012 the Arctic reached the point at which ice stops receding and...
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Jul
10

World's First Automated Mooring & AMP System by Cavotec

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
<img data-cke-saved-src="http://www.marinelink.com/images/show.aspx?aid=16224&width=310&height=500&/moormaster.jpg" src="http://www.marinelink.com/images/show.aspx?aid=16224&width=310&height=500&/moormaster.jpg" alt="File Moormaster Unit: Photo courtesy of Cavotec" title="World" s="" first="" automate...
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Jul
10

Maersk Mc-Kinney Moller Makes Port Call to Vostochny Seaport, Russia

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Maersk Mc-Kinney Moller, the first Triple-E containership and the largest ship in the world, which was built at a South Korean shipyard, made a port call to Vostochny Seaport on July 06, 2013, in order to perform bunkering and cargo handling. The ship was been successfully guided through the Nakhodka Bay by operators of the Nakhodka Bay VTS of the FSUE “Rosmorport” Far-Easte...
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Jul
10

Latest Worldwide Shipbuilding Orders

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Ordering this week has been very much focussed on the dry sector with additional orders seen in the container market, large size LNG sector and small tankers, say Charkson Hellas in their weekly S&P Weekly Bulletin. In dry bulk carriers: starting with the large sizes, it was reported that Oldendorff Carriers have declared their first option for an additional 207k DWT Newcastlema...
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Jul
10

Tanker construction activity remains weak, negative short-term outlook for

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The crude tanker orderbook, which includes tankers under construction, are looked at by investors on top of crude tankers on order because it provides additional data that factors in when managers want ships to be delivered so that they can generate maximum profits. If managers expect the supply and demand balance to be unfavorable within a year or two, they may ask to push the delivery...
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Jul
10

WAF-Far East VLCC dirty tanker freight rates highest in 2013: sources

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Dirty tanker freight rates for deliveries between West Africa and the Far East on VLCCs reached their highest level of the year to date Monday, supported by activity in the Persian Gulf, shipowners and shipbrokers said Tuesday. WAF-Far East VLCC freight rates jumped $1.50/mt to be assessed by Platts at $19.30/mt Monday, the highest since November 27, when they were $20.40/mt. Typically,...
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Jul
10

Crude Rises to 14-Month High as U.S. Equities Rally

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
West Texas Intermediate crude advanced to a 14-month high as U.S. equities rose amid optimism about the economy and as analysts estimated that U.S. oil inventories fell last week.  Prices gained 0.4 percent. The Standard & Poor’s 500 Index rose for a fourth day. Crude supplies probably dropped to a four-month low, according to a Bloomberg survey before a government report...
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Jul
10

IHC Merwede to Deliver New FPSO Offloading Systems

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
IHC Merwede has announced that it has signed two new contracts for the EPC (engineering, procurement and construction) delivery of offloading system packages for five FPSO vessels (floating production storage and offloading). The first  of these packages will be placed on to one of MODEC’s FPSO vessels under its lease agreement with Petrobras. The others have been ordered for...
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Jul
10

Volstad Shipping Orders Subsea IMR and Construction Vessel from Turkey

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Volstad Shipping AS has signed a contract with Tersan Shipyard in Turkey regarding building of a Subsea IMR and Construction Vessel. The contract was signed July 4th 2013 and is subject to satisfactory financing.  The new vessel has main dimensions of 128.5m x 25m and is of ST-259 design. Estimated delivery time is Q4/2015. Total project cost is estimated at approximately NOK 800 m...
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Jul
10

MOL Comfort’s Fore Part Still in Flames

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The fire on MOL Comfort’s fore part that broke out on July 6th continues to rage. The Indian Coast Guard vessel ‘Samudra Prahari’ joined the other two rescue boats in the firefighting operation on July 8th. Due to adverse weather affecting the firefighting effort, the fire is not yet under control. Observations show that most of the containers on deck have been burnt o...
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Jul
9

Search Ongoing for Six Missing Crew Members from Capsized MV Hope

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Three more survivors were found and two bodies recovered over the weekend following the capsizing incident of cargo ship MV Hope, which occurred on Thursday morning off Phuket, Royal Thai Navy reported. The search continues for other six crew members that have gone missing. The towing of the capsized vessel has commenced. The vessel will be brought to Phuket for repair. Source :&nb...
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Jul
9

ADIB to Finance GMS’ New Vessels (UAE)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, has closed a AED 1.32 billion ($360 million) Syndicated Islamic Facility for Abu Dhabi-based Gulf Marine Services (GMS), the largest provider of self-propelled self-elevating jackup barges in the world. The deal was tailored by ADIB to meet GMS’ specific financing needs, including re-financing existi...
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Jul
9

Baltic Trading Limited Announces Agreement to Acquire Two Handysize Vessels

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
 Grows Fleet Approximately 10% Baltic Trading Limited (BALT) announced yesterday that it has agreed to acquire two 32,000 dwt Handysize vessels, for an aggregate purchase price of approximately $41.0 million. The acquisition is subject to the completion of customary documentation and closing conditions. The two vessels, the 2010-built Baltic Fox and the 2009-built Baltic Hare, are ...
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Jul
9

Lock worker strikes on German river canal systems hit shipping

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Strikes by union-organized lock workers on several key German waterway canal systems began at 0600 CET (0400 GMT) Monday morning, halting barge traffic through the systems, a spokesman at German service workers' union Ver.di, which called for the strikes, said Monday morning. The first strikes block shipping from the German Rhine through all important tributary and connecting waterw...
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Jul
9

IMO selects DNV for US gas fuel report

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The report willidentify the necessary conditions for the successful implementation of LNG as a fuel The IMO has selected DNV to gather knowledge about the potential of LNG powered shipping in the North American Emission Control Area (ECA) and identify the necessary conditions for the successful implementation of LNG as a fuel source in the region. Natural gas is a widely available fuel ...
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Jul
9

Teekay Tankers Declare Dividend

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Tankship Ganges Spirit: Photo courtesy of Teekay Tankers Teekay Tankers Ltd. Board of Directors  has voted to declare a fixed cash dividend of $0.03 per share for the quarter ended June 30, 2013. The cash dividend is payable on July 31, 2013 to all shareholders of record on July 19, 2013. Teekay Tankers currently owns a fleet of 31 double-hull vessels, including 11 Aframax tanker...
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Jul
9

Thailand Freighter Casualty Under Tow

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Photo courtesy of Royal Thai Navy The Royal Thai Navy today called off its search for the remaining missing crewmen of the Bangladeshi cargo ship 'MV Hope', which almost capsized in heavy seas south of Phuket on Thursday night. Salvage of the vessel proceeding. The news comes after the search yesterday failed to locate any more of the five missing crewmen, reported the Phuket ...
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Jul
9

Confident Korea Shipbuilder to Raise Price of Fuel-Savvy Ships

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Hyundai Heavy Industries Co., the world’s biggest shipbuilder, plans to raise prices as demand for fuel-efficient vessels increases, reports the Japan News, citing Bloomberg, Singapore. Hyundai Heavy’s optimism helped drive up shares of South Korean shipbuilders Monday and contrasts with gloom over Chinese shipbuilders. A third of China’s yards may shut down in about fi...
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Jul
9

Somali Pirate Hostage Malaysian Ship Sinks

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
M/V Albedo: Photo courtesy of EUNAVFOR The 'MV Albedo' sinks In rough seas after being held captive by Somali pirates for over two-and-a-half years. EU Naval Force confirms that the Malaysian flagged Motor Vessel MV Albedo, held by armed pirates at an anchorage close to the Somali Coast, has sunk in rough seas. MV Albedo has been in pirate hands since it was attacked...
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Jul
9

Clipper Bulk Establishes New Logger Pool

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Clipper Bulk has established a new commercial pool for modern bulk carriers fitted for logs trading. The new pool will commence operation in August with 10 vessels initially scheduled to deliver in the first year. All of the vessels range in size from 28-33,000 mts deadweight. “While new, the Clipper Logger Pool is in many ways a continuation of the former Lasco Logger Pool, which...
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Jul
9

Greece: Navios Acquisition Takes Delivery of One MR2 Product Tanker

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced yesterday that the Nave Equinox, a 2007-built MR2 Ice Class 1A product tanker vessel of 50,922 dwt, was delivered on June 26, 2013. Navios Acquisition also announced that it has agreed to extend the existing charter on the Chemical Tanker Nave Polaris for one additional year ending in Q3 2014 at ...
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Jul
9

MV ‘Albedo’ Held by Pirates Sinks (Somalia)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
EU Naval Force can confirm that the Malaysian flagged Motor Vessel MV Albedo, held by armed pirates at an anchorage close to the Somali Coast, has sunk in rough seas. MV Albedo has been in pirate hands since it was attacked in the Indian Ocean in November 2010, and was in pirate hands when it sank. An EU Naval Force warship and Maritime Patrol Aircraft have closed the sea area and are c...
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Jul
9

SeaBird Secures Seizmic Contracts for Two Vessels

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
SeaBird Exploration Plc announced that Aquila Explorer has received a letter of award from a company in the Asia Pacific region. The contract has an estimated duration of 30 days with a value of approximately USD 3 million. She is currently working for a national oil company in the region on a 30 day contract with an estimated value of approximately USD 3 million. The Harrier Explorer i...
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Jul
9

CLOV FPSO Sails Away from DSME Shipyard

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
South Korea’s Daewoo Shipbuilding Marine and Engineering, on June 25th, held sail away ceremony for CLOV FPSO at E-quay. Around 70 honored guests attended the event, including Mr. Jean-michel Lavergne the managing director of Total E&P Angola. Recently DSME has accelerated its progress in preparation for sail away. On 14th June, DSME operated the four gas turbine generators an...
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Jul
9

SMIT to Remove Two Wrecks from North Sea

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
In the Dutch section of the North Sea are four wrecks of sunken ships that are forming an obstruction to shipping. Rijkswaterstaat, the Dutch Ministry of Infrastructure and the Environment, has ordered the complete removal of one of these wrecks and the partial clearance of the other three in order to restore the shipping channels concerned to their required depth. This will speed up th...
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Jul
9

India says interested in importing LNG from Iraq

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
India said it is interested in importing liquefied natural gas (LNG) from Iraq, with imports of the cleaner fuel becoming attractive after New Delhi decided to raise prices of locally produced gas from April 2014. Iraq has emerged as the second-biggest crude oil supplier to India after supplies from Iran were hit due to pressure from western sanctions. Reliance Industries (RELI.NS) has ...
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Jul
9

The rising tide of Chinese gasoil exports

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The surge in gasoil exports from China this year has prompted speculation of China becoming a net gasoil exporter in the longer term. In the first four months of this year, gasoil exports reached 1.39 million mt, compared with just 300,000 mt over the same period of 2012. China’s gasoil exports have risen significantly since late 2012 because of slowing domestic demand and higher ...
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Jul
9

LNG from Qatar: government going to import costly gas

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Pakistan is pressing ahead with importing LNG from Qatar on government-to-government basis despite Doha's offered volumes being lower and price higher than those in the LNG tender recently scrapped by the Economic Co-ordination Committee (ECC). The ECC, sources said, has directed the Petroleum Ministry to negotiate import of 500 mmcfd LNG from Qatar, which official sources is within...
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Jul
9

Swire Group Acquires Polynesia Line

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The China Navigation Co (CNCo), the deep sea shipping arm of the Swire group, having held a minority shareholding of 13% in Polynesia Line Ltd (PLL) since 1979, has purchased all the remaining shares in the Line. CNCo has been an active and committed shareholder in PLL for the last 34 years and is fully committed to ensuring that the Line continues to serve the needs of its strong and l...
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Jul
8

Cargo Ship Capsized Off Thailand. 11 Crew Members Missing

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Bangladeshi cargo ship MV Hope capsized in heavy seas south of Phuket, Thailand on Thursday morning with 17 crew members onboard, the Royal Thai Navy reported. Six MV Hope’s crew members were rescued. Five of them were found in a lifeboat and rescued by a German container ship Buxmoon. The Royal Thai Navy managed to recue one injured sailor by a helicopter and transferred him to P...
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Jul
8

Asia-Europe spot container rates soar

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Asia-Europe spot container rates soar as carriers hard line the 1 July GRI against a background of weak market fundamentals. Shanghai-Rotterdam container freight rate index increased by $1,632 per 40ft container yesterday. The World Container Index’s Shanghai-Rotterdam freight rate assessment increased by 165%, to US$$2,622 per 40ft box, today, marking the latest of several huge p...
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Jul
8

Chinese Numbers Hiding Something In Reserve?

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Following reports of China’s import figures for May, attention has focused on the data for crude oil imports. In January to April 2013, China imported 92mt of crude (including landborne trade), or 5.6m bpd, followed by 5.7m bpd of imports in May. In the year-to-date, imports by the major hope for crude oil trade growth are down by 2%. Is it time to plan for the worst? Strategic Th...
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Jul
8

Watchkeeper: Two worrying accidents

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
It has been a worrying week for containership owners, and perhaps those who insure them and their cargoes, with the structural failure of the MOL Comfort leaving the two halves of the 8,000 TEU vessel wallowing several miles apart in the Arabian Gulf. Then a short time later one of the largest containerships afloat was forced to divert, after what could have been a serious cargo fire, h...
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Jul
8

Iron ore shipments rose in June due to demand, positive for dry bulk shippi

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
China’s iron ore import data China’s iron ore import is a key driver of shipping demand, making up more than 75% of the world’s total iron ore shipments. So China’s import rising is positive for shipping rates—Capesize vessels in particular—which can give short-term support to share prices and a medium-term boost to companies’ financials. While ...
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Jul
8

Cypriot shipping industry navigating uncharted waters

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The banking crisis in Cyprus has been having a knock-on effect on shipping companies operating from the island, the majority of them being ship management firms. IBNA understands that there have already been problems with companies not being able to pay staff or cover ongoing business commitments due to the freezing of their accounts. In some cases contingency funding arrives from abroa...
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Jul
8

Azerbaijan’s State Caspian Shipping Company announces plans to buy new ship

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Till the end of July the Azerbaijan State Caspian Shipping Company (SCSC) plans to get two main sections of the floating dock, the construction of which is carried out in the Russian city of Nizhny Novgorod, the head of the company Aydin Bashirov told journalists on Saturday. According to him, the length of the dock will be 160 meters, and it will consist of six blocks. Construction of ...
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Jul
8

HE Khamis Juma Buamim Provides Update Regarding Iconic Liner QE2

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
ides, QE2, regarding, Update. His Excellency Khamis Juma Buamim, Chairman of QE2 Shipping LLC, Dubai & QE2 Holding Pte Limited, Singapore yesterday addressed a gathering of dignitaries to provide an update regarding the iconic liner-the QE2. He began by thanking the teams involved in the project, partners in the venture Oceanic Group, the consortium of investors &am...
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Jul
8

Subsea 7 Wins Contracts for Three New PLSVs

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Subsea 7 S.A. announced the award of three contracts from Petrobras with a combined value (at the time of contract signature) of approximately US$1.6 billion for the construction and operation of three new-build flexible pipe-lay support vessels (PLSVs).  The work scope of each of these 5 year contracts is similar to that of the PLSVs which Subsea 7 currently operates offshore Braz...
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Jul
8

Fire Broke Out on MOL Comfort’s Fore Part

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The salvors of MOL Comfort have encountered another obstacle in their effort to recover the remaining fore part of the vessel, after its stern part sank in heavy seas on June 27. Namely, as MOL reported on Saturday, July 6, a fire had broken out on the towed fore part of the vessel at around 0030UTC (09:30 JST) on July 6. “We immediately requested the salvage company to start fire...
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Jul
8

International Submarine Races 2013 Awards

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Submarine entrant in 11th series: Photo courtesy of isrsubrace.org 20 teams demonstrated their engineering prowess in week-long human-powered design competition. Intelligent Decisions (ID), Inc., a  global IT systems integrator, congratulates Virginia Tech HPS and their vessel “Phantom 6” as the winner of the ID Innovation Award at the 12th International Submarine Rac...
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Jul
8

JonRie Winches for New Hyack Maritime ASD Tugboats

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Tugboat Hawaii: Photo credit Hyak Maritime The lead vessel of 2 new tugboats, 'Hawaii' has been delivered by J.T. Marine of Vancouver equipped with JonRie winches. The new Hyak Tug is a 37 Meter 80 Ton Bollard Pull Line Haul ASD complete with a JonRie Series 200 Bow winch with a capacity of 150M of 60 mm line, a line pull of 5 Tons, a line speed of 20  M/m and a brake wit...
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Jul
8

OSM Maritime Awarded Three Ship Management Contracts

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Bulk Carrier 'Christina Victory': Photo courtesy of OSM Maritime Norway-based OSM Maritime has recently been awarded ship management contracts for a new bulk carrier, a DP-2 Dive-support vessel, and a Kamsarmax bulk carrier as follows: Laurel Ace is a new bulk carrier, built in 2013 at the I-S shipyard in Japan. The vessel was successfully taken over in Japan on the 3rd o...
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Jul
8

Solar Sailing: Green Boats Keep Air, Water Clean

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Anyone who has ever scanned the sea’s horizon for a fuel station recognizes the key advantage of solar-powered boating: solar-powered (or green) boats eliminate boaters’ dependence on gasoline. Solar-powered boats are better for the environment, not to mention beautiful (often encased in glass to support the panels and preserve the view), quiet and potentially safer. Though ...
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Jul
8

Subsea 7 Charters Out Three Newbuild PLSV's

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Pipelayer Seven Waves: Photo courtesy of Subsea 7 Norway's Subsea 7 S.A. awarded 3 contracts from Petrobras with a combined value (at the time of contract signature) of approximately US$1.6 billion for the construction & operation of three new-build flexible pipe-lay support vessels (PLSVs). The work scope of each of these 5 year contracts is similar to that of the PLSVs whic...
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Jul
8

China, Korea, Offshore Contracts for Kongsberg Maritime

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Drilling Control Centre: Image courtesy of Kongsberg CIMC Yantai Raffles in China and STX Offshore & Shipbuilding in Korea have selected extensive Dynamic Positioning (DP), Automation, new generation Safety System, Integrated Navigation, Hydroacoustic positioning and latest riser management solutions from Kongsberg. The contracts are in regard to two new Frigstad D90 Design drilli...
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Jul
8

Ferus Smit Lounches New Cargo Ship MV Helge (VIDEO)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Ferus Smit successfully launched new cargo ship M.V. Helge at the Westerbroek yard on Saturday the 6th of July. This bulk oriented general cargo ship is specially designed for trading in the Gotaland region. With her special dimensions ‘Helge’ exactly fits through the locks of the trollhattan canal, connecting the Vanern with the Port of Goteborg at the North Sea. Thanks to ...
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Jul
8

Offshore O&G Technical Division Formed at Russian Maritime Register of Ship

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
On 1 July, Offshore Oil and Gas Facilities Technical Supervision Division was formed at Russian Maritime Register of Shipping (RS, the Register) incorporating Offshore Oil and Gas Facilities Design Expertise Department and Oil and Gas Equipment Technical Supervision Department. According to Mikhail Ayvazov, RS Chief Executive Officer, “growth in the scale of hydrocarbon ...
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Jul
8

Fourth Trillium Class Laker Sails on Maiden Voyage

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The last of Canada Steamship Lines’ (CSL) four newbuild Trillium Class self-unloading Lakers, the Baie Comeau, was delivered on June 20, 2013 and set sail on her maiden voyage on June 30. She departed at 11:48 CST from Chengxi Shipyard in Jiangyin, China, en route to Montreal, Quebec, where she is set to operate throughout the Great Lakes and St. Lawrence Seaway. Commanding the Ba...
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Jul
8

Bumi Armada Secures EPIC Contract from Lukoil

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Malaysia-based international offshore oilfield services company, Bumi Armada Berhad announced on July 5 that its wholly-owned Russian subsidiary, Bumi Armada Caspian LLC signed a supplementary agreement worth USD178.5 million with OOO LUKOIL-Nizhnevolzhskneft for EPIC (engineering, procurement, installation and pre-commissioning) work in the Filanovsky and Korchagin field in the Russian...
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Jul
5

Drewry: The P3 Alliance. How Will Ports be Affected?

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The recent decision of Maersk Line, MSC and CMA CGM to form a mammoth vessel sharing alliance in the three major east-west trades has stirred up shippers, but the port sector must be equally concerned. As announced last week, Maersk Line, MSC and CMA CGM intend to share vessels in the Asia-Europe, Transpacific and Transatlantic trades from 2Q 14. A total of 255 ships will be operated in...
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Jul
5

Milbank Advises on Bond Refinancing of LNG Tanker Meridian Spirit (USA)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Milbank represented Meridian Spirit ApS, as issuer, in a $195 million bond refinancing for its liquefied natural gas (LNG) tanker vessel, the Meridian Spirit. Meridian Spirit ApS is a special purpose company owned by Teekay LNG Partners LP and Marubeni Corporation. Moody’s rated the 17-year private placement Baa1 based on the Meridian Spirit’s charter with Total’s Norw...
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Jul
5

Ceona Finalises Deal for Construction of New High-Capacity Vessel

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Ceona has finalised its agreement with Lloyd Werft for the construction of a new high-capacity vessel, the Ceona Amazon, at a signing ceremony in Bremerhaven. Members of the Ceona management team, led by CEO Steve Preston and Chairman John Smith, were joined by a representative from majority shareholder Goldman Sachs Capital Partners, at the contract signing with Lloyd Werft at the Germ...
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Jul
5

World's Largest OWF Inaugurated: London Array

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
<img data-cke-saved-src="http://www.marinelink.com/images/show.aspx?aid=16133&width=310&height=500&/london%2barray%2b%2blast%2bone%2bup.jpg" src="http://www.marinelink.com/images/show.aspx?aid=16133&width=310&height=500&/london%2barray%2b%2blast%2bone%2bup.jpg" alt="File Last Turbine Placed: Photo courtesy of Siemens" title="...
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Jul
5

Watchkeeper: Introspection at IMO

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
There might be a broad welcome for the conclusions of the International Maritime Organization (IMO) Symposium on the Future of Ship Safety held in London at the organisation’s headquarters earlier this month. This was an opportunity for those who are on the receiving end of the regulators’ activities to suggest that there was room for improvement in this process, and the mes...
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Jul
5

The over-reliance on the GRI mechanism needs to be changed if carriers are

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Drewry Maritime’s latest Container Forecaster report highlights that carriers need to rely less on the chronic use of general rate increases and pay more attention to minimising surplus capacity at the trade route level to stabilise the shipping market. Future industry health is now being governed by carrier behaviour and psychology rather than the prevailing market fundamentals w...
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Jul
5

Algoma Sixth in 2012 Marine Money Overall Performance Rankings (Canada)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Algoma Central Corporation, the largest Canadian shipowner and operator of domestic Great Lakes vessels, announced today that for the second straight year the Corporation placed in the top ten in Marine Money Magazine’s Rankings of Publicly Traded Shipping Companies. Marine Money Magazine has produced its annual ranking of public marine shipping companies since 1991. The 2012 list...
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Jul
5

DSME to Build Ice-Class LNG Carriers for Yamal LNG

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
OAO Yamal LNG announced today the completion of the tender for the construction of ARC7 ice-class tankers for the shipment of liquefied natural gas (LNG). After considering proposals submitted by seven world-leading shipyards, Daewoo Shipbuilding & Marine Engineering was named the winner of the tender and Yamal LNG signed a slot reservation agreement with the selected shipyard. The ...
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Jul
5

ZPMC Wins First Deepwater AHTS Order (China)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
ZPMC and China Oilfield Services Limited (COSL) held a signing ceremony for two deepwater AHTS units, on June 19, marking ZPMC’s first AHTS order and adding a new ship type to the offshore engineering fleet. With three key functions: anchor handling, towage and supply, AHTS is a deepwater three-purpose standby vessel providing multiple operation services for offshore engineering. ...
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Jul
5

US to Europe MR tanker rates soar to 2013 high of Worldscale 130

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
US Gulf Coast-UK Continent freight rates, basis 38,000 mt Medium-Range tankers, Wednesday reached a 2013 high of Worldscale 130 and a seven-month high of $30.12/mt on strong export volumes out of the US. Over the past two weeks, the spread between freight rates for the transatlantic route has kept widening, with a growing premium for the backhaul route for MR tankers over the fronthaul ...
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Jul
5

MacGregor Crane Technology Employed for Unique Cruise Experience

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Royal Caribbean International’s first Quantum Class cruise ship will feature a unique crane and viewing gondola supplied by MacGregor; the North Star will lift guests 91m above sea level to give them panoramic views of the sea and surrounding ports of call MacGregor has won the contract to deliver North Star, an engineering marvel that takes guests to new heights with a jewel-shap...
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Jul
5

GUEST POST: Stephen Metcalfe MP on the threat of piracy

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Somalia and the surrounding Gulf of Aden have been at the centre of piracy discussions for some time. This is of course with good reason; the region has a prolific record of hijackings, kidnappings and robberies. This reality however is changing. Thanks in part to the implementation of Best Management Practices and the imposing presence of international task forces; pirate attacks in th...
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Jul
5

AMSA issues Marine Notice re Transition to MASTREP

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The Australian Maritime Safety Authority has issued Marine Notice No 10/2013 to advise mariners of the transition of the Australian Ship Reporting System (AUSREP) to the Modernised Australian Ship Tracking and Reporting System (MASTREP) as prescribed in Marine Order 63 (MASTREP) 2013, which will take effect on 1 July 2013. AUSREP to MASTREP AUSREP commenced in 1973 in line with Australi...
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Jul
5

MacGregor Equipment for New China Navigation’s Multi-Purpose Vessels

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Four new 22,000dwt multi-purpose vessels for China Navigation have been designed to provide efficient, flexible freight solutions; they will feature variable frequency drive electric cranes and hydraulically-operated hatch covers from MacGregor, part of Cargotec China Navigation Company’s (CNCo) four new ‘Chief Class’ 22,000dwt multi-purpose vessels ordered from Zhejia...
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Jul
5

Seaspan Takes Over MOL Efficiency (Japan)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Seaspan Corporation announced yesterday that it accepted delivery of a 4600 TEU containership, the MOL Efficiency. The containership was constructed by Mitsubishi Heavy Industries Ltd. in 2003 and expands the Company’s operating fleet to 71 vessels. The MOL Efficiency is on charter to Mitsui O.S.K. Lines Ltd. (“MOL”) under a two-year, fixed-rate time charter. The ship ...
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Jul
5

Rio Tinto warns on iron ore shipment delays

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
UK-Australian mining firm Rio Tinto has informed customers to expect delays in iron ore shipments from Australia's Dampier port, as the company aims to offset disruption to deliveries caused by last week's wet weather in Western Australia. “Rio Tinto is currently reviewing the potential impact on shipment schedules and operations but expect that the vessel queue levels at ...
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Jul
5

Pakistan, Qatar to discuss LNG deal next week

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Pakistan will initiate talks with Qatar for the import of 500 million cubic feet gas per day on government-to-government basis next week, a senior official said. The negotiating team will comprise Punjab Chief Minister Shahbaz Sharif, federal Minister for Water and Power Khawaja Asif, federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi and other officials of the mi...
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Jul
5

Yangzijiang Shipbuilding Bags Fifteen Newbuilding Orders

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The Board of Directors of Yangzijiang Shipbuilding Ltd announced that following the new orders announced on 26th April 2013, the Group has secured additional shipbuilding contracts for fifteen vessels with an aggregate contract value of US$414 million. The new contracts secured comprise of six units of 82,000 DWT bulk carriers, eight units of 64,000 DWT bulk carriers and one unit of 94,...
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Jul
5

PCTC Höegh Trapeze Delivered for Green Recycling (China)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Pure Car Truck Carrier Höegh Trapeze (built 1983) was delivered to safe and environmentally friendly “green recycling” in China. This is the 13th car carrier sold for green recycling since Höegh Autoliners started a policy in 2009 for green recycling of car carriers reaching the commercial end of their lives. Grieg Green was selected as buyer, based on good experie...
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Jul
5

CIMC Signs CNY3.7bn Container Vessel Contract

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
China International Marine Containers (Group) Co.,Ltd. (CIMC) announces that CIMC Financial Leasing (Hong Kong) Ltd., a wholly-owned unit, signed a contract of seven 8800-TEU container vessels with Dalian Shipbuilding Industry Co. Contracted price of each vessel is USD 85 million. Total contracted value is around CNY 3.68 billion. CIMC Financial Leasing (Hong Kong) also signed a 204-mon...
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Jul
4

Basotect Develops New Application for LNG Tankers

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
More than a quarter of the global production of natural gas in 2011 – or nearly 331 billion cubic meters – was liquefied and shipped throughout the world in ocean-going tankers. In preparation for transport, the gas is cleaned, liquefied at minus 162 degrees Celsius, and then loaded onto tankers that carry liquid cargo. This process reduces 600 cubic meters of gas to one cub...
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Jul
4

Subsea 7 Wins USD 450 Million Contract from Petrobras (Brazil)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Subsea 7 S.A. announced the award of a contract with a value (at the time of contract signature) of around U$450 million from Petrobras. The contract is for the operation of the Pipe Lay Support Vessel (PLSV) Seven Phoenix on a day rate basis for five years, with operations starting in the third quarter of this year. The vessel has operated for Petrobras for several years and is current...
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Jul
4

Ship Newbuilding Market Remains Active

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The newbuilding market has continued to remain active with various new orders being reported placed in a variety of the conventional sectors, including both the Dry, Container markets and PCTC’s, reports the Clarkson Hellas S&P Weekly Bulletin. In the dry bulk market we continue to see a steady stream of orders surfacing in the handymax sector, whilst the other sectors have see...
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Jul
4

Union of Greek Shipowners Annual Report 2012-13

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
It has been most unfortunate for Greece in 2012 to have had to face the most severe crisis of its national economy which has also coincided with one of the deepest crises in the endemic cyclical nature of international shipping. The international shipping downturn has not only been deep but also long in its duration due to three major factors: the reduction of cargo volumes transported,...
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Jul
4

Feature: Boxes of known unknowns

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
One could be forgiven for thinking that what needs to be known about the millions of containers shipped around the world each year is indeed known. After all, since the terrorist attacks of 9/11 12 years ago, containers and their contents are supposed to have been subject to a battery of security checks that include intelligence-based screening, X-ray scanning and physical inspection.&n...
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Jul
4

IMO Secretary-General Meets New IACS Chairman

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
IMO Secretary-General Koji Sekimizu yesterday met with the new Chairman of IACS, Mr. Roberto Cazzulo, Chairman of RINA Services. Mr. Sekimizu congratulated Mr. Cazzulo on his appointment and expressed his appreciation to IACS for its long and ongoing support of IMO’s work on maritime safety, security and the prevention of marine pollution by ships and stated that he looked forward...
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Jul
4

MOL Starts New Sailing Rig Onshore Demonstration Test (Japan)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Mitsui O.S.K. Lines, Ltd. (MOL) today announced start of an onshore demonstration test of a new prototype sailing rig that has great potential for reducing CO2 emissions from vessels. Tests of the “Power Assist Sail” began at the Mitsui Engineering & Shipbuilding Co., Ltd. (MES) Oita Works last month. MOL, MES, Akishima Laboratories (Mitsui Zosen) Inc., and classificatio...
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Jul
4

European Commission approves €114 million aid for extension of Greek Piraeu

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The European Commission has found a €113.9 million Greek support for an infrastructure project of €120 million at the Port of Piraeus to be in line with EU state aid rules. In particular, the project will further the objectives of EU transport policy and cohesion without unduly distorting competition in the internal market. In September 2012 Greece notified plans to support an...
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Jul
4

Piracy in Arabian Sea Challenging the Security of Global Trade

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Over the last decade, incidents of maritime piracy in the Gulf of Aden and the Arabian Sea have reached high levels, creating a strategic challenge for the security of global trade and a threat to maritime activity in this important part of the world, Dr. Jamal Sanad Al-Suwaidi, Director General of the Emirates Center for Strategic Studies and Research (ECSSR), said in the welcome remar...
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Jul
4

Coal shipments from Newcastle port in Australia decrease 25% week on week

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Newcastle port's three coal terminals shipped a combined total of 2.33 million mt of coal exports in the seven-day period ended Monday, 7 am Sydney time, (2100 GMT Sunday), a 25% decrease from the Australian port's 3.1 million mt of coal cargo throughput in the preceding week ended June 24, said Newcastle Port Corporation in a report Wednesday. A total of 36 ships berthed at New...
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Jul
4

Lloyd’s Register to Determine Cause of MOL Comfort Incident

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Mitsui O.S.K. Lines, Ltd. have appointed an expert body in vessel design certification and shipbuilding inspection, London-based Lloyd’s Register (LR) as a technical consultant to determine the cause of the incident involving the containership MOL Comfort. The incident occurred on June 17 and MOL has been going all out to determine the cause ever since. MOL will seek LR’s co...
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Jul
4

Rolls-Royce Wins Offshore Vessel Contract in Brazil

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Rolls-Royce has signed a contract with the Brazilian shipyard Aliança S/A Industria Naval e Empresa de Navegacao, a subsidiary of Fischer Group, and Brazilian shipowner Asgaard Navegação S.A for the design and delivery of equipment to two offshore vessels for Asgaard. The contract value is about £11 million (approx. $16.8mln) to Rolls-Royce. The two vessels ar...
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Jul
4

De-rated Wärtsilä Diesel Engine Passes TAT

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Wärtsilä RT-flex58T version D ER-3 engine: Photo credit Wärtsilä Wärtsilä announce that another of its two-stroke engines, the Wärtsilä RT-flex58T version D ER-3 , has successfully passed its Type Approval Test (TAT). This engine is a further optimised version of the Wärtsilä RT-flex58T version D engine with reduced power and greater f...
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Jul
4

CIMC Orders Seven Containerships from DSIC (China)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
China International Marine Containers (CIMC) has entered into a $595m worth shipbuilding contract with Dalian Shipbuilding (DSIC) for the construction of seven 8,800 TEU containerships. After the delivery, scheduled for 2015 and 2016, the vessels will be placed on long term charter contracts with Mediterranean Shipping Company (MSC) that will last for 204 months (17 years) ) at a day ra...
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Jul
4

Argentina to Get LNG Spot Cargo From Belgium at Recalada Port

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Argentina, which has no long-term contracts to import liquefied natural gas, is scheduled to receive a spot cargo from Belgium, ship -tracking data shows.  The Methania, with a capacity of about 131,000 cubic meters, is on its way to Recalada port near Buenos Aires, according to transmissions captured by IHS Fairplay on Bloomberg. It was scheduled to arrive yesterday.  The ves...
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Jul
4

Two Bulk Carriers Collide in the Aegean Sea

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Two bulk carriers, MV Katherine and MV Baru Satu, collided last night in the Aegean Sea, southwest of the Andros Island, Greece, the Hellenic Coast Guard reported. Accordingly, the vessels rammed each other’s hulls, damaging MV Katherine’s portside and causing the vessel to start taking in water. The Coast Guard’s officials said that there is no danger of flooding and ...
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Jul
3

Naming Ceremony for Evergreen’s Latest Three L-Type Vessels (South Korea)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Evergreen Line’s latest three L-type vessels, numbers 12, 13 and 14 in the series have been named Ever Legend, Ever Learned and Ever Legion. The christening ceremony was officiated by S.S. Lin, the Evergreen Group’s First Vice Group Chairman, at the Samsung Heavy Industries shipyard in Korea on June 11, 2013. The three L-types will join Evergreen Line’s Asia – Eu...
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Jul
3

The Ballast Water Treatment Solution

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Early planning, engagement with competent partners will be the key to timely compliance. The May announcement that W&O Supply had been named as the exclusive distributor of Hyde Marine’s GUARDIAN Ballast Water Treatment Systems (BWT) in the U.S. and Canada may seem like routine news. After all, W&O Supply is one of the world’s largest marine suppliers and has many...
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Jul
3

MOL Comfort: Latest Update as Tow Parts

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Floating part: Photo courtesy of MOL The vessel's fore part has broken free from tow amid adverse weather conditions, the after part having sunk earlier. The (slightly amended) owner's statement No. 17 is as follows: The fore part is located near 17'02"N 67'57"E. The weather in the area is still adverse. Containers: ?The condition of the fore part is stable w...
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Jul
3

GL IHM Green Server Smoothes EU Ship Recycling Compliance

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
A new software solution has been developed by Germanischer Lloyd (GL) to streamline compliance with the newly adopted European Union regulation on ship recycling. The IHM Green Server (IGS) is a web-based application which aids in the preparation and the maintenance of a vessel's Inventory of Hazardous Materials (IHM). The tool supports shipowners with all of the IHM related aspects...
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Jul
3

European Commission's proposed CO2 GHG MRV scheme for shipping

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The precise amount of CO and other greenhouse gas emissions of EU-related maritime transport is not known due to the lack of monitoring and reporting of such emissions. The impact assessment and stakeholder consultation (see section 2) identified that a robust system for monitoring, reporting and verification (MRV) of greenhouse gas emissions from maritime transport is a prerequisite fo...
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Jul
3

Why shipping construction remains negative while ship orders for tankers ri

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Significance of ship orders Orders for crude tankers often reflect shipping companies’ expectations of future supply and demand. Managers often place new orders when they expect future demand to increase more than supply, on the condition that they expect to generate profit with the investment. When managers expect excess capacity to continue or grow, they refrain from placing mor...
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Jul
3

Wilson Sons Secures Contracts to Build Two OSRV and One PSV

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Wilson Sons Limited announced that it has signed a contract with Geonavegação S.A., wholly owned subsidiary within the Georadar Group, for the construction of two Oil Spill Recovery Vessels (OSRV) with 1,080 m³ of recovered oil storage capacity and one Platform Supply Vessel (PSV) with deadweight of 5,000 t. The vessels, which are scheduled for delivery in 2015, will ...
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Jul
3

Scorpio Tankers Continues Newbuilding Spree

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Scorpio Tankers Inc. announced yesterday that it has reached agreements with two yards in Korea to construct a minimum of 5 and up to 10 newbuilding vessels designed for the carriage of liquefied petroleum gas (“LPG”). Also, the Company announced that it has taken delivery of its ninth Newbuilding MR product tanker, STI Le Rocher, agreed to time charter-in a 2013 built LR2 p...
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Jul
3

Singapore: Cleanup of Oil Spill after Ships Collide Progresses

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Considerable progress has been achieved in containing and cleaning up the oil spill caused by the collision, which happened this morning between ships Oriental Pioneer and Atlantic Hero off Singapore’s Tanah Merah Ferry Terminal, the Maritime and Port Authority of Singapore (MPA) informed in an update. MPA further reported that there has been no additional spillage of fuel oi...
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Jul
3

OOCL Names Its Newbuild Containership (South Korea)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
OOCL celebrated the naming of its third 13,208 TEU containership that will be joining the company’s fleet this year. Named the OOCL Chongqing, the mega vessel made its first grand appearance at the Samsung Heavy Industries shipyard on Geoje Island, South Korea, in front of many honorable guests and institutional supporters of OOCL that contributed to the success of the newbuild. A...
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Jul
3

Caterpillar Ships First MaK Dual Fuel Engine

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
M46DF Engine: Photo credit Caterpillar The M 46 DF, Caterpillar’s first marine dual fuel engine, will power a Japan newbuild cruise ship ordered by Germany’s AIDA cruises. The engine has left the MaK Rostock, Germany facility en route to Mitsubishi Heavy Industries in Japan for installation. “We’re pleased to deliver our first dual fuel marine product to AIDA c...
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Jul
3

PPG Launches SIGMACOVER 580

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
PPG Protective and Marine Coatings (PPG) has announced the launch of SIGMACOVER 580, a new innovation in epoxy anticorrosive/tiecoat that has been proven to deliver considerable savings and improved productivity at dry dockings. SIGMACOVER 580 has been carefully engineered to provide ease of use and economical application characteristics. It possesses a practical overcoating window and,...
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Jul
3

Teekay Order Wärtsilä LNG Inert Gas Units

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Wärtsilä Moss Inert Gas Test Generator: Photo credit Wärtsilä Wärtsilä to supply a combined inert gas generator & gas combustion unit for 2 new liquefied natural gas (LNG) carriers being built at the DSME yard in South Korea for Canada-based Teekay Corp. The concept of combining the two systems was developed by Wärtsilä in cooperation with ...
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Jul
3

North Sea Platform Drilling Equipment Package Ordered from Aker

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Image courtesy of Aker Solutions Aker Solutions  contracted by Shipbuilding and Marine Engineering (DSME) to deliver a drilling equipment package for the production platform at the Mariner oilfield in the UK North Sea. The parties agreed not to disclose the value of the order, which includes a complete topside equipment package. Aker Solutions will also provide necessary support ...
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Jul
3

Bulk Carrier Owner Excel Files Chapter 11 Bankruptcy

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Bulker MV Christine: Photo courtesy of Excel Maritime Carriers Excel Maritime Carriers has entered into an agreement with its senior lenders on the terms of a financial restructuring, having now necessarily filed Chapter 11 petitions for relief in the United States Bankruptcy Court for the Southern District of New York. The agreement, which has the support of Excel Maritime's seni...
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Jul
3

BMT Awarded NDLO Ship Design Contract

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
NDLO Logistic Support v/l: Image courtesy of BMT Group BMT Defence Services Ltd , a subsidiary of BMT Group Ltd, has announced that it has been confirmed as design contractor for the Norwegian Defence Logistics Organisation ’s (NDLO) logistics and support vessel (LSV), supported by sister companies BMT Reliability Consultants Ltd and BMT Isis Ltd. The auxiliary vessel, designed ...
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Jul
3

GALLERY: First Triple-E Vessel Delivered

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Yesterday, on 2nd July, Daewoo Shipbuilding & Marine Engineering (DSME) delivered the first Triple-E vessel, the Mærsk Mc-Kinney Møller to Maersk Line. Management from DSME and Maersk sign the official documents for ownership of the vessel. The Danish and the Korean flags are hoisted along with the Maersk pennanton the wheel house. At the moment, the Mærsk Mc-Kinn...
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Jul
3

As Maersk Line’s Triple E, The World’s Largest Cargo Ship, Preps For Maiden

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The world’s largest cargo ship is leaving its shipyard this week to prepare for its July 15 maiden voyage, but much of its cargo space will be under-utilized as many ports don’t have the ability unload the 20-story-high container stacks the vessel can lug between Asia and Europe. The ship, a $185-million, 1,300-foot long behemoth with a capacity of 18,000 containers, is a ga...
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Jul
3

Container weighing forward thinking

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Strainstall, a leading stress analysis and design verification expert, is targeting the tricky issue of misdeclared container weights with its new container weighing system. And it's already been adopted by the UK ports of Felixstowe and Tilbury, with interest being expressed from both Belgium and Canada and as far afield as Chile and Dubai. Scott Cruttenden, Strainstall, explained ...
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Jul
3

1st Iran-made Aframax oil tanker ready for delivery to Venezuela: Official

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
A senior Iranian official says the first Aframax tanker ship Iran has built for the Venezuelan national oil company, PDVSA, is complete and will be delivered to the Latin American country soon.  Iranian Vice President for International Affairs Ali Saeedlou told reporters in Moscow on Monday that the issue will be discussed in details in a meeting between Iranian President Mahmoud A...
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Jul
3

TSA Lines Prepare for Peak Season, Announce Surcharge

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Positive signals on consumer confidence for second-half 2013, and healthy consumer spending data in the second quarter, suggest a likely bump for Asian imports in coming months, and container shipping lines in the Transpacific Stabilization Agreement (TSA) are preparing for a potentially healthy peak season. As TSA carriers plan their individual vessel and equipment allocations to meet ...
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Jul
2

Maran Gas Takes Delivery of Its First LNG Carrier with Electric Propulsion

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The first electrical LNG carrier to be ordered by Maran Gas incorporating induction-based electric propulsion motor technology from GE’s Power Conversion businessis expected to enter commercial service in July. The Woodside Rogers, built by one of the major Korean shipbuilders, Daewoo Shipbuilding & Marine Engineering (DSME), at its shipyard near Busan, successfully completed ...
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Jul
2

Croatia: ULJANIK Shipyard Takes Over 3. MAJ

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The contract for acquiring and transfer of 3. MAJ shares for purchasing 1,051.118 shares having nominal value 100.00 HRK which represents 83.33% of the share capital of BI 3. MAJ was formally signed, on June 28th 2013. ULJANIK undertakes to pay to the Seller the purchasing price in the amount of 1.00 HRK (one kuna) for the 3. Maj Rijeka. As per Contract, ULJANIK is obliged within o...
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Jul
2

Triple Containership Naming in Korea Shipyard

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Evergreen Triple Naming Ceremony: Photo credit Evergreen Line Evergreen Line's latest three L-type vessels, numbers 12, 13 and 14 in the series have been named 'Ever Legend', 'Ever Learned' and 'Ever Legion'. The christening ceremony was officiated by S.S. Lin, the Evergreen Group's First Vice Group Chairman, at the Samsung Heavy Industries shipyard in ...
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Jul
2

US Oil Imports in Freefall, Force Shipping Rates Down

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
VLCC: Photo courtesy of SCF Group Growing U.S. energy independence is driving the biggest drop in crude imports in two decades and rates for the oil tankers most reliant on the shipments to the weakest in at least 16 years, reports Bloomberg. Citing shipbrokers Clarkson, Bloomberg add that seabourne imports will decline 11 percent to 5.4 million barrels a day in 2013, the largest slid...
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Jul
2

IMO Sub-Committee restructuring agreed by MSC

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
IMO's Maritime Safety Committee (MSC) has agreed to a restructuring of IMO's Sub-Committees, in order to deal more effectively with the technical and operational issues covered by IMO regulations, as part of a review and reform process initiated by Secretary-General Mr. Koji Sekimizu. The restructuring proposals, which were already considered and approved by the Marine Environme...
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Jul
2

Eniram Unveils 4th Generation of Its Flagship EVP

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Eniram Limited, fast growing provider of energy management solutions and data analytic services to the shipping industry, is launching the 4th generation of its flagship Eniram Vessel Platform (EVP), which serves as the backbone for all Eniram optimization applications. The re-architected platform can easily be installed onboard a vessel and integrated with its existing systems. While r...
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Jul
2

Vessel ordering mania – why?

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The flood of interest in ordering new container vessels is motivated by other factors than supply and demand. The recent surge in new vessel orders at a time of industry-wide overcapacity suggests that market fundamentals are no longer the main driver (see figure). Even when the most recently ordered ships are delivered in 2016, Europe and the US are still likely to be climbing out of r...
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Jul
2

Jensen Talks LNG with Professional Mariner

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Within the past two years, liquefied natural gas (LNG) has gained a major foothold in the U.S. maritime industry. Large ferry companies in the Unites States and Canada are planning to adopt the fuel, and several U.S. operators have placed orders for offshore supply vessels and containerships. One key exception to this trend has been the tugboat industry, where several gas-powered vessel...
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Jul
2

Ballast Water Convention Ratified by Germany

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Germany is now the 37th flag state to ratify the Ballast Water Convention – a clear signal to the industry that ratification is imminent. Germany's Ambassador to the United Kingdom, Georg Boomgaarden, signed both Conventions, in the presence of IMO Secretary General, Koji Sekimizu, at the IMO's headquarters in London. Whilst the number of countries required to ratify the c...
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Jul
2

China Makes Play For Iran’s Chabahar Port

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
China has offered Iran 60 million Euros (US$78.27 million) to upgrade its Chabahar Port on the Persian Gulf near Tehran’s border with Pakistan, The Indian Express reported on Monday. The newspaper quoted a note India’s Ministry of External Affairs sent to the shipping industry as saying that “China could finance the project to keep India out of Chabahar and protect its...
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Jul
2

USA: Jensen Talks LNG with Professional Mariner

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Within the past two years, liquefied natural gas (LNG) has gained a major foothold in the U.S. maritime industry. Large ferry companies in the Unites States and Canada are planning to adopt the fuel, and several U.S. operators have placed orders for offshore supply vessels and containerships. One key exception to this trend has been the tugboat industry, where several gas-powered vessel...
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Jul
2

Caterpilla Signs Agreement to Acquire Johan Walter Berg AB

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Caterpillar Inc. has signed a definitive agreement to acquire Johan Walter Berg AB, including its core brand of Berg Propulsion, a leading manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships. With the acquisition, Caterpillar will transition from selling only engines and generators to providing complete marine propulsion package systems....
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Jul
2

PSV ‘World Diamond’ Delivered to World Wide Supply (VIDEO)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Galati June 28th, 2013. Damen Shipyards Galati has delivered the ‘World Diamond’, the first of six Platform Supply Vessels for Norwegian offshore owner World Wide Supply, built to an entirely new Damen design. The World Diamond was christened by godmother Her Royal Highness Crown Princess Margarita of Romania on June 28th, in a yard ceremony attended by 150 guests. “De...
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Jul
2

Managing of Maersk Line’s Network (VIDEO)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The Triple-E is a huge ship, designed specifically to sail from Asia to North Europe. This is the busiest and longest route in the world, where economies of scale and fuel efficiency matter the most. With its size and design the ship is built to be as efficient and competitive as possible on this route. But with a worldwide fleet (in Maersk Line’s case counting more than 500 ships...
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Jul
2

89 Ships To Arrive Lagos Ports From July 1 To July 29

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Eighty nine ships are expected to arrive the Lagos ports from July 1, to July 29, the Nigerian Ports Authority (NPA) has said. NPA said this in its daily publication, ``Shipping Position,’’ made available to newsmen on Monday in Lagos. It said that 14 of the ships would sail in with vehicles. The document also indicated that 16 of the ships would arrive with petroleum produc...
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Jul
2

Seimas approves law on amendment of law on LNG Terminal

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
On June 27, Seimas of the Republic of Lithuania approved the Law on Amendment to Articles 5, 10 and 11 of the Law on Liquefied Natural Gas Terminal of the Republic of Lithuania, the NASDAQ OMX Vilnius statement said. The Law amends regulation of trade of natural gas brought through the Liquefied Natural Gas Terminal, informs LETA/ELTA. The Law abolishes the requirement for the natural g...
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Jul
2

The Case For LNG Exports

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Based on a 1938 law, the USgovernment has the power to regulate natural gas exports, and has shown a certain reluctance lately to allow them on an unfettered basis.  What could go wrong? Funny you should ask.  Over the years, US natural gas markets have been regulated by the US government (primarily Democratic administrations) with the intent of: a) preventing prices from bein...
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Jul
2

Wärtsilä Propulsion Control Panel Wins Design Award

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Propulsion Control Panel: Image credit Wärtsilä Wärtsilä wins the internationally recognised Red Dot award for product design. The award is for Wärtsilä's new propulsion control panel design that received the highest "best of the best" prize in its category. A total of 4662 design nominations from 1865 manufacturers, designers and architects...
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Jul
2

OSX Brasil: Updates on Previous Orders

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
OSX Brasil S.A., a Brazilian publicly held corporation with activities in the sector of supplying equipment and services to the offshore oil and natural gas industry, with integrated operations in shipbuilding, chartering of exploration and production units (E&P) and operation and maintenance services (O&M), hereby informs to its shareholders and the market that: As informed in ...
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Jul
2

Bergen Group in Final Phase of Clarifying External Ownership in Shipbuildin

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Bergen Group is now in the final phase of clarifying a possible external ownership in the group’s shipbuilding division. The final discussions with an international industrial group are considered constructive, and are expected to finalize during this summer. The two parties are working on a basis of a previously signed memorandum of understanding (MoU) that opens up for the new e...
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Jul
2

Two Bulk Carriers Collide Off Singapore Causing Oil Spill

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The Maritime and Port Authority of Singapore (MPA) received a report that a South Korean-registered bulk carrier, Oriental Pioneer, and a Bahamas-registered bulk carrier, Atlantic Hero, had collided at about 6.6km south-west of Tanah Merah Ferry Terminal on 2 July 2013. One of the Oriental Pioneer’s bunker tanks was damaged and approximately 100 metric tonnes of fuel oil were spil...
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Jul
2

Excel Maritime Carriers Files for Chapter 11 Bankruptcy Protection

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Excel Maritime Carriers Ltd., an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, yesterday announced that as of July 1, 2013 it has entered into an agreement with its senior lenders on the terms of a financial restructuring. The agreement, which has the support of Excel Maritime’s senior secu...
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Jul
2

USD 662.4 Million for Refinancing of Maran Nakilat JV (UAE)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Maran Nakilat Co. Ltd., a joint venture (JV) between Nakilat and Maran Ventures Inc., has secured Islamic refinancing worth $662.4m that will see the JV expand its fleet and Nakilat increase its ownership of the JV. At a ceremony held at Nakilat’s Doha head office, Maran Nakilat Co. Ltd. signed a $662.4m Murabaha refinancing agreement with two of Qatar’s leading Islamic bank...
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Jul
2

Port Klang to handle 20m TEUs by 2016

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Port Klang will have the capacity to handle almost 20 million TEUS (20-foot equivalent units) of containers by 2016 as both Northport Malaysia Bhd and Westports Malaysia Sdn Bhd are undergoing expansion plans. Port Klang Authority chairman Datuk Dr Teh Kim Poo said the authority is also in the midst of obtaining relevant approvals to deepen the existing channels to 18m. "This will ...
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Jul
2

Rickmers Linie Renames Its Multi-Purpose Ship in Hamburg (Germany)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
One of the multi-purpose ships operating on Rickmers’ service between Europe and the Middle East/India has been christened Rickmers Chennai. The former Pacific Winter was renamed in a ceremony in Hamburg yesterday, by Dr Christine Winter, daughter of owner Heino Winter, acting as sponsor of the vessel. The 19,100dwt Rickmers Chennai has been on long-term charter from Reederei Hein...
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Jul
2

Kenz Cranes Delivers Boom Hoist Cranes for BP’s Clair Ridge Platforms

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
On June 6th, Kenz Cranes, Dutch specialist in offshore and marine cranes, successfully delivered a set of three identical boom hoist cranes to BP. The cranes, with a hoisting capacity of 55 tonnes each, will be installed on BP’s new Clair Ridge Platforms, which are expected to be installed in 2015 and will come on stream in 2016. Kenz Cranes received the order from Amec, operating...
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Jul
2

Kongsberg Wins Contracts for Advanced Offshore Units in China and Korea

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
CIMC Yantai Raffles in China and STX Offshore & Shipbuilding in Korea have selected extensive Dynamic Positioning (DP), Automation, new generation Safety System, Integrated Navigation, Hydroacoustic positioning and latest riser management solutions from KONGSBERG. The contracts are for two new Frigstad D90 Design drilling rigs and one Bassoe Technology BT-UDS Design drillship. The t...
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Jul
2

Forward contracts point to recovery for dry bulk shipping

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
What are forward contracts? Companies use forward contracts to lock in the availability of resources in the future at a set price. The dry bulk shipping industry, which transports key dry bulk materials such as iron ore, coal, and grain, is no exception to this practice. When shipping companies negotiate the rates of shipping raw materials, they take into consideration future expected s...
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Jul
1

Wartsila to Provide Propulsion Packages for CNCo’s New Vessels

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Wärtsilä, the marine industry’s leading solutions and services provider, has been contracted to supply propulsion packages for 24 new vessels being built for the Singapore based China Navigation Co. Pte. Ltd (CNCo). The ships are being built at the Chengxi and Zhejiang Ouhua shipyards in China, and the contracts were signed with Wärtsilä licensee Hudong Heavy M...
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Jul
1

Tianjin to Build Two Post Panamax Vessels for Wallenius Lines

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Wallenius Lines and Tianjin Xingang Shipyard in China have finalized and signed a contract to build two Post Panamax vessels for delivery in 2015 and 2016. “We believe in a strong market for our segment of shipping, and are pleased to have concluded the negotiations with Tianjin Xingang Shipyard in China for two state of the art Post Panamax car carriers with the option to build a...
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Jul
1

The Largest ULCC at Damen Shiprepair Brest

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Damen Shiprepair Brest (France) returned the Ultra Large Crude Carrier (ULCC) “TI Europe”, presently the largest vessel in the world, to its owners EURONAV (Belgium) after successfully completing a full technical survey and service. Jos Goris, Managing Director of Damen Shiprepair Brest, says: “We were very pleased with this order from a prestigious company like E...
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Jul
1

Damen Delivers First of Six PSVs Ordered by World Wide Supply

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The first deliveries from Damen Shipyards Group’s extensive new offshore portfolio open the way to the realisation of the global group’s strategic ambition to challenge comfortable preconceptions on how best to source high performance ships in this specialised market. The first of six Damen PSV 3300 vessels, built for Norwegian offshore support company World Wide Supply, is ...
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Jul
1

Titan and T&T Cooperate for Salvage on Chilean Coast

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Photo: Titan Crowley Maritime Corp. subsidiary Titan Salvage, based in Pompano Beach, Fla., and its partner T&T Salvage, a maritime emergency and salvage company based in Galveston, Texas, recently completed a challenging wreck removal project off the coast of Chile. The job, which involved the removal and scuttling (the process of strategically sinking a shipwreck) of a grounded ...
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Jul
1

CSCL Equips More of Its Fleet with ECO-Assistant

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
To enhance the operational efficiency of its fleet, China Shipping Container Lines Co., Ltd. (CSCL) has rolled out ECO-Assistant onto its entire fleet of eight 14,000TEU container vessels, following a successful test of the software on one of these vessels. Furthermore, an extra agreement was signed to expand the deployment of ECO-Assistant to another eight 9,600TEU container vessels of...
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Jul
1

IMO’s Maritime Safety Committee Adopted Passenger Drill Amendments

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
IMO’s Maritime Safety Committee (MSC) met at the Organization’s London Headquarters for its 92nd session from 12 to 21 June 2013. The MSC adopted amendments to the International Convention for the Safety of Life at Sea (SOLAS) relating to passenger drills; discussed recommendations arising from the Costa Concordia incident; and considered matters related to piracy and armed ...
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Jul
1

Second Maersk Line’s Triple E-Class Vessel to Call at EUROGATE in Wilhelmsh

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The second mega container ship in Maersk Line’s E-class, the “Eugen Maersk” is to call at EUROGATE Container Terminal Wilhelmshaven in July (week 29). The “Eugen Maersk” operates on the AE10 service (Far East – Europe) and is planning an unscheduled port call in Wilhelmshaven. On 4 July 2013 and on 11 July 2013, the feeder vessels “Maersk Ohio&r...
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Jul
1

Mightiest STS Konecranes Yet Ordered for Port of Houston

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
STS Cranes: Photo courtesy of Konecranes Super Post-Panamax STS (Ship-to-Shore) cranes ordered by the Port of Houston Authority will be the biggest STS ever manufatured by Konecranes. The order includes four Super Post Panamax STS (Ship-to-Shore) cranes and three RTG (Rubber Tired Gantry) cranes. The STS cranes will be shipped to to PHA’s Barbours Cut Terminal in late 2014 and s...
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Jul
1

Sea Star Line Takes Over 150 New Refrigerated Containers (Puerto Rico)

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Sea Star Line, LLC recently took delivery of 150 new 40’ refrigerated containers in year two of a five year equipment replacement plan. The replacement plan aims to reduce the average age of the entire Sea Star Line refrigerated container fleet to less than 3 years. “Sea Star recognizes the needs of our customers for dependable, state-of-the-art refrigerated equipment and th...
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Jul
1

Protacon to Renew Swedish Icebreaker ‘Ymer’

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Protacon, a company based in Finland, has closed a contract with Viking Supply Ships to modernize a Swedish icebreaker Ymer. Last year Protacon modernized the Finnish icebreaker flagship, Urho. The deal provides a  stronger foothold as a supplier of high power electrical drives to Protacon, currently experiencing a vigorous growth. The modernization project comprises the DC drives ...
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Jul
1

Products Boom Sailor? In Your (Field of) Dreams

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Field of Dreams is a film about the crazy things sane people do. Kevin Costner plays a farmer who hears a voice telling him to build a baseball field on his farm. If you build it, they will come, it says. So he stops farming and builds the field. Initially it's the bailiffs who come, but then mysteriously the field fills with old-time baseball heroes, so all is well. It's an ins...
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Jul
1

China could provide boost for VLCCs in the longer term

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
In its latest weekly analysis, Poten & Partners examined the impact that China's oil demand growth, together with its massive new refinery additions, could have towards demand for VLCCs. According to Poten, "over the last decade, China’s consumption of oil has grown more rapidly than any other nation. Its lead has single handedly supported incremental demand for VLCCs...
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Jul
1

Shipping orders for oil tankers show different outlook in short and long te

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Orders for crude tankers often reflect shipping companies’ expectations of future supply and demand. Managers often place new orders when they expect future demand to increase more than supply, on the condition that they expect to generate profit with the investment. When managers expect excess capacity to continue or grow, they refrain from placing more orders, sometimes even del...
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Jul
1

Panamax coal freight rates gather steam as Atlantic activity boosts

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Panamax coal freight rates on established routes from South Africa's Richards Bay and Indonesia to India ended the week higher Friday, helped by robust activity in the Atlantic basin. "The Atlantic basin is firm for both Supramaxes and Panamaxes and rates at the east coast of South America are surprisingly holding high," a Hong Kong-based source said. A Singapore-based sou...
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Jul
1

Offshore Brazil PLSV's: Huge Petrobas Contract for SNM

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
The contract is for a period of eight years with an extension option for an additional eight years and is expected to commence by the second quarter of 2016.  Total revenue potential for the contract is expected to be US$2.7 billion. The three vessels will be constructed in Holland with IHC Caland and will have the same specifications as SNM's existing orders with the yard.&nbs...
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Jul
1

Shipping capacity growth breaks below 7%, first time since 2009

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Capacity is an important factor that directly impacts companies’ top line (revenue) in a highly commoditized industry, like shipping. When capacity grows faster than what’s demanded, competition rises among individual shipping firms as they try to use idle ships and cover fixed costs. This lowers day rates, which negatively affects bottom line earnings, free cash flows, and ...
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Jul
1

Potential New Marine Sanctuaries: NOAA Seeks Public Input

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
A humpback whale feeds in Stellwagen Bank National Marine Sanctuary: Photo credit NOAA NOAA is seeking public input on a proposed process & associated criteria to evaluate potential new national marine sanctuaries in the nation's marine and Great Lakes environments. The National Marine Sanctuaries Act in 1972 gave NOAA a mandate to identify, designate, and protect marine area...
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Jul
1

17 containers slip off ship, Gujarat on alert

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Seventeen containers on board a vessel slipped off Okha West and began floating in sea prompting the Gujarat Maritime Board to sound an alert for ships approaching Gulf of Kutch, a major corridor for crude oil imports.  "About 17 containers slipped from M V Rajeev Gandhi, a vessel container of Shipping Corporation of India, off Okha West coast on June 27 when it was on way to ...
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Jul
1

Matson, ship unions negotiate new contract

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
A four-year contract agreement reached this weekend between Matson Inc. and three unions that represent workers on its cargo ships does not include any cutbacks for workers, a president of one of the unions said today. The new contract, which is subject to ratification by members of the Sailors’ Union of the Pacific, the Seafarers International Union and the Marine Firemen’s...
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Jul
1

BMT Gets Design Contract for NDLO Logistics and Support Vessel

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
BMT Defence Services Ltd, a subsidiary of BMT Group Ltd, has announced that it has been confirmed as design contractor for the Norwegian Defence Logistics Organisation’s (NDLO) logistics and support vessel (LSV), supported by sister companies BMT Reliability Consultants Ltd and BMT Isis Ltd. The new logistic support vessel will be built by 85, Da-dong, Jung-gu, Seou and Marin...
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Jul
1

SFL to Acquire Jack-Up Rig ‘West Linus’

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
North Atlantic Drilling (NADL) and Ship Finance International Limited (Ship Finance) today announce an agreement to a combined sale and leaseback arrangement whereby Ship Finance will acquire the harsh environment jack-up drilling rig West Linus from a subsidiary of NADL. The West Linus is currently under construction at Jurong Shipyard in Singapore with scheduled delivery in December 2...
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Jul
1

Oro Negro Orders Two Jack-Up Rigs from Sembcorp Marine

BY PAUL SHERWOOD  |  POSTED IN MARITIME NEWS
Sembcorp Marine’s PPL Shipyard has secured additional orders for two turnkey contracts worth a combined value of US$417 million from repeat customer Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V. for the construction of two units of jack-up rigs. Scheduled for delivery at end July 2015 and end of third quarter 2015, these latest pair of high-specification and high...
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