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Record High

U.S. Oil Imports Up

U.S. crude oil imports January to June 2001 were above the 2000 level in each month. However, crude oil imports during 3rd quarter were below the 2000-year level for each month. Crude oil imports in August 2001 were about 1.0 mbd below the August 2000 level and the September 2001 level was 0.3 mbd below that of September 2000. Crude oil imports Jan-Sept. 2001 were record high, 0.10 mbd above the Jan-Sep. 2000 level. The highest U.S crude oil imports ever - 9.484 mbd - were recorded in August 2000. U.S. product imports declined dramatically from 3.33 mbd in January 2001 to 2.12 mbd in August, increasing slightly to 2.24 mbd in September 2001. Products imports Jan-Sept. 2001 were also record high, 0.21 mbd above the Jan-Sep. 2000 level. (Source: INTERTANKO News)


GOM Oil Production to Reach Record High

According to a report from the Offshore Magazine, Gulf of Mexico oil production is forecast to increase substantially over the next few years, possibly reaching 1.9 MMb/d in 2013 which would be a record high. This is MMS’ best-case scenario, which factors in industry-announced discoveries and undiscovered resources. (Source: Offshore Magazine)


China Overtakes Korean Shipbuilding

South Korean shipbuilders were overtaken by their Chinese rivals in new orders acquired in the first four months of the year, a London-based market researcher said on Wednesday. South Korean shipbuilders such as Hyundai Heavy Industries Co and Samsung Heavy Industries Co received a combined 6.9 million compensated gross tons (CGTs) in new orders in the January-April period, up 6.9% from a year ago, Clarkson Research Studies said.


Oil Industry: EPA Going “Too Far, Too Fast” On Diesel

The U.S. oil industry locked horns with environmental regulators last week over a new proposal to make diesel burn cleaner. The Environmental Protection Agency (EPA) proposed this spring to reduce the sulfur content in diesel by 97 percent, starting in 2007, as a way of cutting back on toxic emissions. But at a hearing on the green diesel proposal, oil industry representatives said the EPA was going "too far too fast" and that the rule could cause fuel shortages and surging prices similar to


WSS Expands Network in China

Wilhelmsen Ships Service has opened a new full service office in Ningbo, providing a comprehensive range of ships agency and maritime logistics services. The company now has five offices in mainland China. “Our strategy has been to strengthen our network across China in order to be present where our customers are operating,” said Captain Bi Yuping – General Manager of WSS Ships Agency & Maritime Logistics China.


Boskalis Conclude Good Quarter, Raise Earnings Outlook

Dutch dredging & marine specialists, Royal Boskalis Westminster N.V. (Boskalis) report revenue & profit  higher than in the first half of 2012. The order book increased in recent months and stood at a new record high of EUR 4 billion at the end of the third quarter. Based on current insights, the second half of the year is expected to be strong with a high workload and good results anticipated on a number of dredging projects in progress and close-out results


Shipbuilders Cash In on Special Vessels

According to reports, South Korean shipbuilders are profiting more from selling high-value units such as offshore plants and liquid gas carriers than ever. Daewoo Shipbuilding and Marine Engineering, already has won a record-high $7 billion in building orders this year, which exceeds last year's record of $6.6 billion. Such high performance was largely affected by the sales of four offshore oilrig units, which amounted to $1.9 billion in total.


ConocoPhillips to Acquire Burlington Resources

Already one of the most aggressive spenders on future supplies, ConocoPhillips CEO James J. Mulva is now poised to make another huge deal: a $30-billion plus acquisition of Burlington Resources (BR), according to a Business Week report. Buying BR would be a giant bet on a red-hot U.S. natural gas market. While Burlington has international operations in Algeria, China, and Latin America, 84% of its reserves are in North America. With U.S


Freight Rates to Fall?

While the international ferver for all things maritime continues to sweep the globe, with record high markets in the construction of ships, boats, and offshore structures, a recent report could serve as the proverbial “shot across the bow” that the market could be starting to cool. With a record number of ships set to enter the market, a recent Bloomberg report said that he cost of shipping coal and iron ore is about to decline as the supply of cargo vessels overwhelms demand.


Mitsui-MAN B&W Diesel Engine Achieves World Record

This world record is established when MES completes the construction of Mitsui-MAN B&W 6S50MC-C Mark 7 at its Tamano Works (Tamano City, Okayama Prefecture) for Sanoyasu Hishino Meisho Corporation (with president Mr. Shinich Kimura), who will install such engine to a chip carrier of 4.35 million cubic feet (shipyard No. 1260) to her owner, Mitsui OSK Lines. In the wake of growing demand for new shipbuilding boosted by active ocean cargo transport


US FERC Approves Sempra LNG Export Project

U.S. regulators on Thursday approved Sempra Energy's bid to build a liquefied natural gas export terminal in Louisiana, opening the door to a significant expansion of the American role in global gas trade. Sempra's Cameron LNG facility was the second gas export project to get the green light to


Oil Falls Towards $111 on Libya Ports Deal

Oil fell towards $111 a barrel on Wednesday, its lowest in almost three weeks, on a possible substantial recovery in Libyan exports after rebels said they would reopen two oil terminals. Libyan rebels blockading eastern oil ports have agreed to reopen the remaining two terminals at Es Sider and


Lakes Water Levels Return, but Not Full Loads

photo courtesy of the Port of Cleveland

The rise in Great Lakes water levels has yet to translate into full loads for the U.S.-flag freighters moving iron ore, coal, limestone, cement and other cargos.  Vessels continue to routinely leave port with less than a full load on board.


More Boat Migrants to Italy Die

Illegal boat migrants: Photo Italian Coast Guard

Nineteen people died trying to reach Italy on a boat packed with hundreds of migrants, probably poisoned by carbon monoxide fumes from its engines, said the Italian Navy on Saturday, which has rescued more than 4,000 migrants in the last three days.


22 Drown After Boats Capsize off Greek Island

Twenty-two migrants drowned and at least 10 were missing after their vessels capsized off the Greek island of Samos early on Monday in seas where hundreds have died attempting the perilous crossing this year alone, the Greek coast guard said.  


Record Cruise Passenger Arrivals at Lisbon

Port of Lisbon

  A record 13,000 passengers disembarked on Tuesday in the port of Lisbon from the towering hulls of cruise ships, including Cunard Line's gigantic trio of "Queens" making a rare joint stopover in a nod to the destination's growing popularity.


Lisbon Sees Record Cruise Passenger Numbers

Total 18,000 passengers and crew arrive by sea in one day; last year saw record number of tourists, rise continues. Tourism accounts for some 10 percent of Portugal economy   A record 13,000 passengers disembarked on Tuesday in the port of Lisbon from the towering hulls of cruise ships


Bering Sea Early Sea Ice Break-Up 2014

Latest Arctic Sea Ice Update: Image National Snow & Ice Data Center

The National Snow & Ice Data Center informs that since reaching its annual maximum extent on March 21, Arctic sea ice extent has declined somewhat unevenly, but has consistently been well below its average 1981 to 2010 extent. While the rate of Arctic-wide retreat was rapid through the


India: Cargo handled at Major ports in April up by 9%

  India’s 12 major ports handled 47 million tonne cargo, which was up by 9 per cent year-on-year, in April – the first month of the current financial year. Tuticorin Port (V.O. Chidambaranar) recorded highest traffoc growth of 36


Bulk Market Suffers Despite Record China Steel Output

File photo

BIMCO reported that China's average daily crude steel output reached a record 2.29 million metric tons in April as steel mills lifted production to meet seasonal demand, though signs of weakness in factory output and the property sector could feed through later in the year.


US Trucks Revved Up, Capacity Crisis Revealed

As a polar vortex snarled North America's railroads and upended freight flows this winter, everyone from agricultural giant Cargill to Dow Chemical rushed to secure the next-best form of hauling goods: trucks. In what trucking executives described as an unprecedented bidding frenzy


Kongsberg reports Record-high new orders in Q1 2014

Kongsberg Maritime

  KONGSBERG reports Q1 operating revenues of MNOK 3 941 (MNOK 4 033) and EBITDA of MNOK 446 (MNOK 500), resulting in an EBITDA margin of 11.3 per cent (12.4 per cent). New orders were strong in both the maritime and defence segments, totalling MNOK 8 565 (MNOK 3 885) in Q1 and bringing the


Great Lakes Shipping Industry Urges Fast WRRDA Approval

James H.I Weakley: Photo GLMTF

The Great Lakes shipping industry is calling on Congress to quickly pass the Water Resources Reform and Development Act (WRRDA) approved by the House/Senate conference committee. The bill contains provisions that will significantly reduce the dredging backlog on the Great Lakes by increasing the


Ice Impacts Still Felt on Great Lakes in May

lca logo.jpg

Iron ore shipments on the Great Lakes totaled 6.4 million tons in May, a virtual repeat of a year ago.  The total would have been about 600,000 tons more, but three 1,000-foot-long U.S.-flag lakers were out of service for a combined 65 days in May to repair damage suffered in the heavy ice


China Stops Issuing Import Permits for US Distillers Grains

China has stopped issuing permits for imports of distillers dried grains (DDGs) from top exporter the United States on concerns they might contain an unapproved genetically-modified organism (GMO), traders said, sending U.S. prices tumbling.






 
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