Update: Damaged MOL Containership
Mitsui O.S.K. Lines, Ltd. (MOL) released a statement updating the status of the containership MOL Comfort as of 11 p.m. JST on June 19, 2013. The vessel could not continue sailing under its own power from June 17 because the hull fractured in two parts while under way on the Indian Ocean, the company said. Mol Comfort', the 316-m-long vessel was carrying 4,500 containers from Saudi Arabia when it split into two roughly 840 nautical miles off the coast of India.
IEA Sees Growth of Natural Gas
But the "Golden Age" is still in full swing as gas emerges as a significant transportation fuel, a new report says. Natural gas will continue to increase its share of the global energy mix…
Boxed In
It is impossible to view the global container shipping business without looking at it through the prism of vessel capacity being added to the market. What happens over the next two years will be a direct result of the glut of newbuildings that are flooding into service and wrecking freight rates. Just consider these numbers. During the first four months of 2013, Alphaliner puts the new containership deliveries at 496,000 TEUs.
Dr. Shashi Kumar
We had the privilege to pick the brain of Dr. Shashi Kumar (right) a Master Mariner, Fulbright Senior Specialist Fellow and Professor Emeritus of International Business and Logistics, for his take on a wide range of maritime matters near and far. A market boom starting in 2014? The long-term effects of Sequestration? A ‘cap’ on the size of ships? He covers it all. This maritime economy has been bad for a number of years. Put in perspective the downturn now vs. traditional downturns.
Dan-Bunkering Appoints Sales Manager and Senior Bunker Trader
A/S Dan-Bunkering Ltd. announced that as of May 1, 2013, Rune Andreasen has been appointed Sales Manager in Dan-Bunkering’s office in Copenhagen. Rune started as a trainee with Dan-Bunkering back in 1999, and was in 2010 promoted to Senior Bunker Trader & Team Leader. In his new role, Rune will be responsible for the daily management, development and education of the trading department in Copenhagen.
The Year in Review
The last 12 months has been one for the books ... or the trash. There was no shortage of government inducements to turn the lackluster tide in 2012—stimulus spending in China and Japan, quantitative easing by the U.S. Federal Reserve, and multiple actions by the European Central Bank to strengthen the Eurozone. But as the year evolved, weak macroeconomic fundamentals decisively trumped monetary policy initiatives and continued their choke on global commerce, hence the maritime sector.
Niedersachsen Ports on Course of Expansion
With two state-of-the-art Liebherr Mobile Harbor Cranes, Niedersachsen Ports works the switches for more turnover in their seaports Brake and Emden. Within a short time frame, Niedersachsen Ports GmbH & Co. KG (NPorts) in Northern Germany ordered two Liebherr Mobile Harbor Cranes (LHM). In Brake, NPorts has already operated a LHM 500 for years, the company said, so it decided to equip the Niedersachsenkai with the popular successor model, type LHM 550.
Hydrasun Secures Shell Integrity Management Contract
Hydrasun, a provider of integrated fluid transfer, power and control solutions to the global energy market, has secured a five-year contract with two, one year extension options…
NV Charts Debuts New Northeast Regional Chart
One of the most popular boating and cruising areas on the U.S. East Coast, the region from Long Island, New York to Nantucket, is now available in improved format and readability from NV Charts. Region 3.1: Rhode Island to Nantucket Sound, including the waters from Watch Hill, R.I. to Chatham, Mass., on the lower end of Cape Cod, includes Nantucket, the Elizabeth Islands and Buzzard’s Bay, Block Island, Block Island Sound and all of Narragansett Bay.
Alnmaritec Announce Partnership with Sculli
U.K. shipbuilder Alnmaritec announced a new exclusive alliance with the Italian design company Studio Sculli. Based in Sarzana near La Spezia, the studio is lead by Mauro Sculli - formerly Design Manager for the world renowned Wally Yachts - and has to date specialized in design and support for the Italian Super yacht industry. In this new development, the worlds of commercial boats and super yachts are to be fused together.
DNV Software Advances 3D Simulation Technology
Marine operations – such as transportation, installation and lifting of fixed and floating structures and subsea equipment – are becoming increasingly challenging…
Seaway Powell Launches Victory Series Actuators
Seaway Powell Marine, a British engineering companies specializing in the design and manufacture of marine hydraulic systems, has announced it will be manufacturing and distributing a new range of Victory Series Actuators. The Victory Actuator Series is an electromechanical ram-style actuator that is a low maintenance alternative to fluid power cylinders. Suited as a clean and efficient hydraulic cylinder replacement…
Safety, Savings and Simplicity Cited as Key Cylinder Oils Benefits
Roughly nine out of 10 shipowners and managers using single oils believe that the main benefits are the assurance of safety in operations, direct savings in lubricant…
Crowley Honors USMMA Midshipman with Award
Crowley Maritime Corporation presented U.S. Merchant Marine Academy (USMMA) Midshipman James R. Cameron with the company’s Maritime Security Enhancement Award, during the academy's recent 2013 graduation awards convocation. The Maritime Security Enhancement Award, established in 2003, is given each year to a USMMA student who demonstrates a strong interest in a port, maritime or transportation security career and who achieves the highest grade in the academy’s transportation security class.
Seeking a Worthy Container Line Stock ...
Asian container liner finances are put under the microscope in a recent Drewry Maritime Equity Research report. It is a challenge to find an investable container shipping stock in the current environment. Most companies have seen their cash balances wither and total industry debt has more than doubled in the past five years to USD 100-bn. Drewrys analysis of the financial health of the industry paints…
China Merchants' Guestimate Container Terminal Growth
China Merchants Holdings (International) Company recently held its AGM in Hong Kong and the Vice-Chairman predicted figures in the company's container terminal operation interests. The Company's Vice Chairman Li Jianhong, Managing Director Hu Jianhua, Deputy Managing Director Zheng Shaoping and Deputy General Manager & CFO Zhang Rizhong were interviewed by journalists after the AGM. Mr. Li Jianhong said: "This year from January to May…
Safe Bulkers Start Series B Share Trade on NYSE
Greece-based Safe Bulkers, Inc. commences trading of its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares on the New York Stock Exchange. About Safe Bulkers, Inc.
Few Passengers, Lack of Staff, Force Ferry Route Closure
The Louisiana Department of Transportation & Development (DOTD) announce that the White Castle ferry will close permanently on Friday, June 21, 2013. Due to the resignation of ferry staff, the White Castle ferry which was originally scheduled to close permanently on Friday, June 28, will cease service on Friday, June 21. Ferry employees were originally scheduled to be laid off after service ended.
Kongsberg Complete J-lay DP3 Vessel Automation Retrofit
Kongsberg Maritime has completed the installation and commissioning of an integrated bridge and automation solution during a large-scale retrofit of the Saipem 7000, an advanced Semi-submersible crane and pipelaying (J-lay) DP3 vessel. The Saipem 7000 retrofit was a ‘Full Picture’ project for Kongsberg Maritime, which featured replacement of several key systems including Automation, Thruster control, Dynamic Positioning, Ballast control and Integrated Bridge System.
Abu Dhabi Introduce New Port 'e-Pass'
Abu Dhabi Ports Company (ADPC) introduce a new electronic system for processing daily and visitor passes for land and seaborne traffic into and through Abu Dhabi ports – the ‘e-Pass’. With over 1,500 daily passes and an average of 150 visitor passes handled every day, the new ‘e-Pass’ system is expected to significantly reduce processing and waiting times for customers. In order to inform all relevant customers of the new accelerated online processes…
