Wilbur Ross-backed Diamond S Shipping drops IPO
Diamond S Shipping Group Inc's largest shareholder, Wilbur Ross, said the tanker company's initial public offering had been canceled because the suggested price was too low…
U.S. refiners oppose easing crude export limits
Four U.S. oil refiners, trying to counter growing calls to lift the nation's ban on most crude oil exports, have launched the first major lobbying effort to keep abundant U.S.
U.S. Black Sea naval drills start after one-day delay
A joint naval exercise of U.S., Bulgarian and Romanian naval forces in the Black Sea has started, the Bulgarian navy said on Wednesday. The USS Truxtun, a U.S. guided…
Gas tanker firm Avance announces Oslo IPO
Gas tanker operator Avance Gas Holding is planning an initial public offering (IPO) and aims to list its shares on the Oslo Bourse in April, one of its owners said on Wednesday…
Asia Fuel Oil: 380-cst cash premium rises 76 percent
The cash premium of the benchmark 380-cst fuel oil grade firmed for the fourth straight session on Wednesday, underpinned by lower supply in the region in early April.
Ousted Libyan PM flees country after tanker escapes rebel-held port
Former Libyan prime minister Ali Zeidan has fled to Europe after parliament voted him out of office on Tuesday over his failure to stop rebels exporting oil independently…
US Navy Braces for Budget Cut Battles
Reuters – Chief of Naval Operations Admiral Jonathan Greenert told reporters late on Monday that the Navy would have no choice but to curtail funding for a planned refueling of the nuclear-powered USS George Washington aircraft carrier if sharp cuts in military spending remained in effect for 2016 and beyond. Such a decision, he said, would have a big impact on the shipbuilding industrial base, noting that the refueling involved several hundred thousand man-days of work…
Electric Boat Gets USS Minnesota Refit Funding
The U.S. Navy has awarded Electric Boat a US$57.2-million contract to prepare and perform maintenance work on the 'USS Minnesota' (SSN-783), a Virginia-class attack submarine. Electric Boat is a wholly owned subsidiary of General Dynamics. Under the terms of the contract, Electric Boat will perform a post-shakedown availability on the Minnesota, which consists of maintenance work, repairs, alternations and testing to ensure the submarine is operating at full technical capacity.
Ship Fuel of Choice to Remain Heavy Oil in 2030: New Analysis
A new study by Lloyds Register and University College, London, discusses the prospects of marine fuels in 'Global Marine Fuel Trends 2030', giving insights into future fuel demand for the containership, bulk carrier/general cargo and tanker sectors (which represent about 70% of the global shipping industry's fuel demands). Fuel oil remains the main fuel for deep sea shipping; LNG develops a deep sea bunker market share of 11%…
Navy Funds Austal to Build Two More LCS in US$3.5-Billion Program
Austal inform that its USA’s order backlog has grown by approximately US$684-million dollars as a result of two additional Littoral Combat Ship (LCS) contract options being exercised by the United States Navy. The contract options fund construction of the LCS 18 and LCS 20, the seventh and eighth ships in the 10-ship block buy award made to an Austal-led team in December 2010 in a 10-ship program potentially worth over US$3.5-billion.
Sargasso Sea Protection: 11 Countries Pledge to Support Pact
Representatives from 11 countries and territories from North America, the Caribbean and Europe have committed support for the conservation of the Sargasso Sea eco-system for the benefit of present and future generations, informs the Sargasso Sea Alliance (SSA). The Alliance explains that for more than two years, it has collaborated with the Bermuda government in a push for the establishment of safeguarding measures for the Sargasso Sea…
Greece's Box Ships Stays the Course in FY 2013 Despite ...
Container ship owners Box Ships announce its financial results for the fourth quarter and year ended December 31, 2013, showing an increased EBITDA in the past year. Adjusted EBITDA was $42.087-million in year 2012 which rose to $47.209-million in 2013. Mr. "The fourth quarter of 2013 was a challenging one, despite being our eleventh consecutive profitable quarter as a public company. The containership market continues to be pressured by the extended weakness in Europe and the United States…
Solstad Sign Intents in Large Subsea Construction Vessel Deal
Norway headquartered Solstad Offshore ASA (SOFF) inform it has signed a Letter of Intent (LOI) with a major international offshore contracting company to construct & operate a large subsea construction vessel. The intention is that the client will charter the vessel from Solstad for a period of 8 years firm, in addition to 3 x 1 yearly options. At the same time, Solstad have signed a LOI with VARD to design and build the vessel.
DNV Introduce Vessel General Permit Enviro-Oil Advisory Service
Classification society and consultancy DNV GL inform it has introduced the "Environmentally Acceptable Lubricants" (EAL) Report Service to help ship operators to comply with the new rules set out for the US Vessel General Permit (VGP) without the need for extensive outlays, & provides feedback on areas of concern. The VGP framework, which came into effect in December 2013 stipulates that biologically degradable oils, or EAL, must be used at all oil to sea interfaces, where technically feasible.
Navy Joint Hi-speed Vessel Keel Laying at Austal Shipyard
Ms. Virginia A. Kamsky, was chosen to sponsor the ship by Secretary of the Navy Ray Mabus, and was present at the keel laying ceremony for the fifth Joint High Speed Vessel 'Trenton' (JHSV 5), one of ten Austal-designed 103-meter U.S. Navy Joint High Speed Vessels under contract with the U.S. Navy. A traditional keel-laying ceremony marks the first significant milestone in the construction of the ship.
Time for WSS to Put Its Americas House in Order, Says VP Simon Hutt
Ship service provider, WSS’s new VP for the Americas, Simon Hutt, says that it is time for the company to put its’ ‘house in order’ and make good on its plans for growth across the Americas region. Hutt, who was formerly Area Director for Southern Europe North and West Africa says, noting the approaching major US maritime shows: “Times are tough, and we know that our customers are feeling the pressure.
USCG, Cargo Vessel Rescue 3 Boaters
The U.S. Coast Guard (USCH) and a Good Samaritan merchant vessel rescued three boaters Tuesday approximately 35 miles south of Fort Macon, N.C., the Coast Guard reported.
Insider Novel Sheds New Light on Oil Spills
A new novel, The Golden Tide, written by global shipping industry insider John Guy, is now available on Amazon as a paperback and ebook for Kindle. The fast-moving book is easy to read and puts a well-informed and human context on what happens when a coastal community confronts an oil spill. Green activist Simone struggles with her beliefs when she meets journalist Michiel, who shows her how an oil spill threatening Sicily is a bonanza for many locals.
Maritime Reporter @ 75: The Daily Cartoon
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.
Focus Maritime to Promote Port of Halifax across Europe
Liverpool-based maritime advisory firm and consultancy Focus Maritime (North West) Limited has been appointed to promote Canada's Halifax Port Authority across Europe. The move by the Nova Scotia-based authority is aimed at strengthening its presence across the continent and sees Liverpool-based Graham Fraser take on the role of director, business development and growth - Europe. Strategically located as North America's first inbound and last outbound gateway…
