Russian Investigators Search CPC After Black Sea Oil Spill
Russian investigators were conducting searches at the Caspian Pipeline Consortium (CPC) after Saturday's oil spill near the Black Sea port of Novorossiisk, the regional…
Robosys Testing Advanced Navigation Systems on the Solent
Robosys’ latest product, Voyager 100, is aimed at commercial and workboat vessels and is currently going through a vigorous system-verification series of tests to check and verify that the system is avoiding collisions by making safe and COLREGS compliant decisions – autonomously.For more than a decade, Robosys has been providing Advanced Navigation Systems for manned and unmanned vessels, offering…
Ingalls Names Norris Director of Government Affairs
America’s largest military shipbuilding company Huntington Ingalls Industries (HII) announced on Thursday that its Ingalls Shipbuilding division has named Jack Norris as director of state and local government affairs.Norris will lead all state and local government relations efforts in support of the Pascagoula, Miss. shipbuilder’s strategic goals and will collaborate with community and economic development partners…
Are We Looking at the Next Dry Bulk Super Cycle? Is It Even a Cycle?
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs. Freight rates and ship values have also risen but although they exceed prices seen during most of the 2010s, they are still far below super cycle levels.“Commodity prices have staged a comeback and are hovering around or above 2007 and 2008 levels. This has fuelled talk of a commodity super cycle.
Belgium's Euronav Posts 2Q Loss on Low Oil Tanker Demand
Belgium's Euronav, which provides shipping and storage services for crude oil, swung to a second-quarter loss, it said on Thursday, as recovering demand for oil and easing production cuts had yet to lead to better shipping rates.The Antwerp-based group posted a loss of $89.7 million for the period compared to a $259.6 million profit a year earlier."Improving crude demand and the tapering of OPEC+ production cuts have yet to translate into freight rate recovery…
Wilhelmsen, NorSea Acquire Stake in Norwegian Deep-sea Mining Firm
Global maritime group Wilhelmsen and the Norwegian offshore supply base firm NorSea have together acquired an 18% stake in the Norwegian deep-sea mining company Loke Marine Minerals."As the energy transition continues to gather pace, we are actively looking at new projects and business areas, outside of the oil and gas industry, where NorSea’s unique port infrastructure and proven service and supply know-how can continue to be a key driver of success.
VIDEO: Prosperity FPSO Hull Arrives in Singapore
The hull of the FPSO Prosperity, which will be Guyana's third offshore oil production unit once delivered, has arrived at the Keppel yard in Singapore, where it will be fitted with topside modules.SBM Offshore, which will deliver the FPSO to end client ExxonMobil, said that despite the various challenges posed by the ongoing global pandemic, the unit remained on schedule to be completed in 2024."Drydock activities are scheduled to begin in the 4th quarter of this year…
Wood-chip Carrier Runs Aground Off Japan. Hull Splits in Two, Oil Spills into Ocean
Crimson Polaris / Credit: Japanese Coast GuardPanama-flagged Crimson Polaris wood-chip carrier ran aground off Hachinohe in Aomori prefecture at around 7:35 am (JST) on August 11, after being swept away by a strong wind while anchored, NYK, the charterer of the vessel, said.The hull of the 199-meter vessel then split in two at 4:15 am on August 12, and oil from the vessel has spilled into the ocean.
Container Shipping Giant Hapag-Lloyd Posts Near 10-fold Profit Rise in H1
German container shipping line Hapag-Lloyd on Thursday reported a nearly 10-fold increase in first-half net profit, citing surging freight rates amid scarce transport capacities.The group, the world's number five in the industry, said net profit climbed to 2.7 billion euros ($3.28 billion) from 285 million euros a year earlier.It said it did not expect any normalization in global supply chains which have seen severe infrastructure bottlenecks due to the coronavirus crisis."We are naturally pleas
Keppel Offshore & Marine Delivers Russia's First LNG Bunkering Vessel
Singapore-based shipbuilder Keppel Offshore & Marine has delivered Dmitry Mendeleev, Russia’s first Liquefied Natural Gas (LNG) bunkering vessel. Designed and built by Keppel O&M, the 5,800m3 ice-class LNG bunkering vessel (LBV) Dmitry Mendeleev was delivered to Shturman Koshelev. When the vessel was ordered back in 2019, it was said that it would, once delivered, be chartered by Gazprom Neft for Baltic…
