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Mideast Crude Tanker Earnings Slip, Ukraine Watched

By Jonathan Saul, Reuters Crude oil tanker earnings on the major Middle East route fell on Tuesday as a build up of vessels available for hire weighed on rate sentiment. Shipping markets continued to monitor developments in Ukraine after Russia sent military forces into the Crimea region of southern Ukraine. Russian President Vladimir Putin said Moscow would only use military force in Ukraine as a last resort. A U.S. official said it was ready to impose economic sanctions on Russia. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan reached W50.73 in the Worldscale measure of freight rates, or $25,765 a day when translated into average earnings. That compared with W51.33 or $27,219 a day on Monday and W55.05 or $32,176 a day last Tuesday. "Higher available capacity in the Middle East continues to weigh on rates out of the region to both Asia and the U.S. East Coast," said Justin Yagerman with Deutsche Bank. "While the number of available VLCCs in the Middle East decreased by 4 last week to 83, the level remains elevated from a historical perspective." In January, average earnings reached $61,630 a day - their highest level since February 2010, before that rally lost steam. VLCC rates from the Gulf to the United States <DFRT-ME-USG> were at W31.63 on Tuesday versus W32.77 on Monday and W34.17 last Tuesday.


New Maritime Exhibition Planned

Cyprus’ MIE Group, Limassol, is arranging an exhibition of marine equipment managers and services (East Med Marine Exhibition) during 7-8th April next year (2005) at the Hawaii Grand Hotel & Resort, Limassol. Backed by the Cyprus Minister of Communications and Works, the exhibition will not only have exhibitors that use MIE as their agent in Cyprus, but also other marine equipment and service companies. Some 45 companies have already signed up for this exhibition


Marauder Fired on by U.S. Fleet Tanker

USNS Rappahannock: Photo credit USN

A small motor vessel fired on in the Persian Gulf after ignoring warnings to keep away from 'USNS Rappahannock' The incident occured near Jebel Ali, United Arab Emirates. In accordance with Navy force protection procedures, the sailors on the USNS Rappahannock (T-AO 204) used a series of non-lethal, preplanned responses to warn the vessel before resorting to lethal force.
 The U.S. crew repeatedly attempted to warn the vessel's operators to turn away from their deliberate approach


Final Designs, King Abdullah Sea Port

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Emaar, the Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has revealed the final blueprints of the KAEC Sea Port, designed in coordination with Halcrow, the international consultancy specializing in the provision of planning, design and management services for maritime projects. One of the six key components of the 168 million sq m KAEC, the Sea Port will be the largest in the Red Sea with a capacity to handle 20 million TEU (twenty ft


World's First Floating Resort Scheduled To Set Sail In 2001

The world's first ocean-going luxury resort is scheduled to be afloat late in 2001 now that Bahamas-registered ResidenSea has secured financing and found a builder, company officials said. The vessel for the rich, dubbed The World of ResidenSea, was conceived four years ago by Norwegian cruise magnate Knut Kloster Jr. "After four years of an uphill struggle...we have finally made it," Henning Oeglaend, chairman of the board of ResidenSea


Sub to Probe Sunken Ship

Greek rescuers will deploy a robot submarine to search for the bodies of two French tourists believed to have drowned when a cruise ship sank off a resort island in the Aegean Sea last week, reported the Houston Chronicle. The ship's captain blamed the accident on sea currents that swept the Sea Diamond onto a charted reef off the island of Santorini, tearing a hole in the ship's hull. According to reports, more than 50 tons of the ship's fuel leaked after the sinking


Ottawa to Mulls Banning U.S.-bound Tankers from N.B. Waterway

The Canadian Press reported that federal politicians say Canada is considering regulations to ban liquefied natural gas supertankers from a sensitive waterway in the Bay of Fundy, risking renewed territorial tensions with the United States. Maxime Bernier, Canada's new minister of foreign affairs, assured a citizens' group on Sunday that Canada is opposed to the prospect of LNG supertankers navigating the treacherous waters that lead into Passamaquoddy Bay between Maine and New Brunswick


Oil Continues to Leak from Solar 1

The team of Japanese experts who flew into the country to help assess the the damage caused by the sinking of the M/T Solar 1 and the resulting oil spill said oil continues to leak out from the tanker, a statement from the Japanese embassy said Tuesday. In Guimaras, President Gloria Macapagal-Arroyo ordered Transportation and Communications Secretary Leandro Mendoza to conduct a full-blown inquiry into the August 11 sinking


Final Agreements Completed on Viva's Casino Day-Cruise Project; Boat to Arrive This Week

Viva Gaming Resorts reported that it has finalized its bare-boat charter agreement and related letter-of-credit commitments with Discovery Dawn Limited Partnership and, as a result, has now taken possession of the Bahamian-flagged luxury casino cruise ship M/V Island Dawn. The cruise ship is presently being moved from its previous location in Freeport, Grand Bahamas, directly to Corpus Christi, with scheduled arrival this week


2009 NMEA Convention & Expo in Florida

Guiding your marine electronics business in challenging economic times is one of the themes for the upcoming National Marine Electronics Association (NMEA) Convention & Expo, to be held Sept. 30 – Oct. 2, 2009, at the Sanibel Harbour Resort in Fort Myers, Florida. Training and seminar opportunities at the 2009 NMEA Convention & Expo cover the following: NMEA 2000 Standard QuickBooks Training ENavigation Satellite Communications Airmar Transducers


30 Rosneft Subsidiaries in All-Russian Environmental Cleanup Day

All-Russian Environmental Cleanup

  Thirty Rosneft subsidiaries in most of the regions of the Company presence, from Sakhalin in the east to the Arkhangelsk Region in the west, took part in the All-Russian Environmental Cleanup Day ‘Green Russia’. As part of the event


Achinsk Refinery Resumes Operation on Tight Schedule

Rosneft had Halted Achinsk Oil Refinery After Explosion Kills Seven

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities. From the 1st of September the enterprise has commenced production of the main types of oil products:


Venezuela Considers Importing Crude for the First Time

PDVSA would use its own fleet to transport imported crude; Purchases of crude imports would reduce costs; Venezuela has been exporting oil for a century Venezuela is considering importing crude oil for the first time ever and could use a light oil from its partner in OPEC, Algeria


Queensland Turns Down Cruise Terminal Request

Australia's Queensland government has backed away from controversial plans to allow a cruise ship terminal to be built on state-owned land on the Gold Coast, according to the 'Brisbane Times'. Deputy Premier Jeff Seeney announced on Tuesday that in response to community concerns


Self-Pilot Personal Submarine to Launch in Monaco

DeepFlight Dragon

DeepFlight announced it will introduce a new type of personal submarine at the 2014 Monaco Yacht Show. The company said its new product, the DeepFlight Dragon, is the most compact, lightweight personal submarine on the market, and is so intuitive to use that clients self-pilot the craft with


FARO 3D Documentation Conference

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The FARO 3D Documentation Conference, to be held October 13-15, 2014, was created as a forum for sharing knowledge, best practices and insight into the world of laser scanning and 3D documentation. Over the course of two days at Disney’s Swan & Dolphin Resort, Lake Buena Vista, Fla


JAXPORT Logistics & Intermodal Conference

Conference banner credit JAXPORT

Organizers of Jacksonville Port Authority's (JAXPORT) biennial 'Logistics & Intermodal Conference' have released the list of panel topics for discussion at the upcoming 2015 conference. The overall theme for 2015 is "Challenges Facing Shippers in South Atlantic Ports


MTU's New Generation Series 2000 Yacht Engine

The latest generation of MTU Series 2000 engines stands out with optimized acceleration and low fuel consumption.

  MTU will be presenting its propulsion and system solutions at the International yachting “Festival de la Plaisance” in Cannes from September 9-14, 2014. Visitors will be able to discover the extensive portfolio of the Rolls-Royce Power Systems subsidiary at Stand JAS-025


BMT WBM Supports AQUIS Great Barrier Reef Resort Project

BMT WBM Supports Landmark AQUIS Great Barrier Reef Resort Project

  BMT WBM (BMT), a subsidiary of BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, has provided critical inputs to the Environment Impact Statement (EIS), in the areas of flooding, water quality and coastal processes for the A$ 8


Mideast Crude Tanker Rates Struggle in Ship Glut

Crude oil tanker earnings on the major Middle East route were steady this week, helped by light bookings although rates have yet to rebound after a recent surge late last month. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan <DFRT-ME-JAP> on Thursday


Children’s Day at Gazprom Transgaz Saratov

Childreds Day at Gazprom Transgaz Saratov

  On May 31 and June 1, 2014 . Over two thousand children from the Saratov, Tambov and Penza Regions took part in sports competitions, environmental quizzes and cheerful celebrations with performances by entertainers and company’s amateur creative teams.


Thai Resort Owners Sue State Owned Company for Oil Spill

Oil pollution: File photo

Business owners on Koh Samet island are suing a state-owned petroleum enterprise for the oil spill that polluted the resort island's beaches last year. More than 50,000 litres of crude oil leaked from pipeline operated by PTT Global Chemical in July 2013 and blackened several beaches on Koh Samet


Record 19th World’s Best Award for Crystal Cruises

Female-server-line-up in Crystal Cruises vessel

  For an unprecedented 19th consecutive year–and with its highest score ever–Travel + Leisure readers have voted Crystal Cruises the “World’s Best” Large-Ship Cruise Line in the prestigious magazine’s 2014 annual survey


Drydocks World's Management Solutions For Kleindienst Group

  Drydocks World, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, announced that it will sign an Agreement with Kleindienst Group to provide a complete range of offshore marine and operational management solutions for their The Heart of


China Urges Peaceful Development of Seas

South China Seas

  China, involved in a growing dispute with its neighbours over the energy-rich South China Sea, wants to promote peaceful development of the oceans, Premier Li Keqiang said, warning conflicts in the past had only brought "disaster for humanity".






 
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