CATS Pipeline & Infrastructure Sold for $954m
BG Group agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to $954 million. Under the agreement, BG Group will sell its 62.78% interest in CATS for a consideration comprising $888 million on completion of the transaction and a deferred amount of $66 million. The sale does not impact BG Group's rights to capacity in CATS.
DMW Marine Delivers Crane to US Navy
DMW Marine Group has delivered an ABS certified 500 ton meter man rated knuckleboom crane to NASSCO in San Diego for installation on the MLP 3 for the U.S. Navy. The crane has a maximum capacity of 24,200 Lbs. at 52-plus feet in Sea State 3 operating conditions. Man rated capacity is 24,912 lbs. at 41 feet also at Sea State 3. dmwmarinegroup.com
IEA: Unconventional Oil Revolution to Spread by End of Decade
The IEA’s Medium-Term Oil Market Report 2014 will be officially launched during a Press webinar on Tuesday, June 17, 2014, 11 a.m. Paris time. In addition, a web-based technical briefing will take place on June 17, at 16:30 Paris time where journalists will have an opportunity to put questions to the team that produced the Medium-Term Oil Market Report 2014. The unconventional supply revolution that…
Alfultis Appointed President of SUNY Maritime
Dr. Michael A. Alfultis, a retired U.S. Coast Guard captain, and the director and chief administrative officer of the University of Connecticut’s Avery Point campus, has been named as the next president of the SUNY Maritime College. Dr. Alfultis’ appointment was affirmed today by the SUNY Board of Trustees who met in Buffalo. He will begin his Maritime presidential duties on Monday, July 14. With more…
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.
US Conditions of Entry for Vessels from Nigeria
The U.S. Coast Guard (USCG) has announced that it will impose conditions of entry on vessels arriving from the Federal Republic of Nigeria (excluding vessels arriving…
Caterpillar to Unveil Twin Fin Propulsion System
Caterpillar Marine will launch the Cat Propulsion Twin Fin System at the 2014 ITS Hamburg Conference and Exhibition, June 16-20. The Cat Propulsion Twin Fin System is a new diesel-electric solution that saves on fuel and emissions, while improving overall vessel performance, Caterpillar said. The Twin Fin System protects all of the propulsion mechanical parts within the hull profile while retaining…
Hydracraft Unveils Variable Hull Design
Hydracraft, a research and development firm incorporated in 1986 and located in the Port of Los Angeles, announced today that it is launching its fully patented…
Today in U.S. Naval History: June 17
Today in U.S. For more information about naval history, visit the Naval History and Heritage Command website at history.navy.mil.
Maersk Line to Raise Freight Rates from Asia to Europe
Container shipping company Maersk Line, a unit of A.P. Moller-Maersk, plans to raise freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from July 1. Rates for twenty foot equivalent unit containers (TEU) will rise by $575, the shipping company wrote in a letter to clients on Tuesday. According to the Shanghai Containerized Freight Index, twenty foot rates from Asia to Europe stood at $1,202 last week.
China Strikes Down P3 Network
Today, the Ministry of Commerce (MOFCOM) in China announced that they have not given their approval to the P3 Network. On March 24, 2014, the U.S. Federal Maritime Commission (FMC) decided to allow the P3 Network agreement to become effective in the U.S., and on June 3, 2014, the European Commission informed the P3 partners that it had decided not to open an antitrust investigation into P3 and had closed its file.
DNV GL Approves GTT Membrane LNG Bunker Barge
Houston-based GTT North America (GTT NA), U.S. subsidiary of French engineering and technology company GTT (Gaztransport & Technigaz SA), has received an Approval in Principle from DNV GL for the design of a 2,200 cubic meter liquefied natural gas (LNG) bunker barge. The distinctive design incorporates GTT’s proven membrane Cargo Containment System (CCS), which is utilized in roughly 70% of the global LNG carrier fleet and nearly 90% of LNG carrier projects on order.
Costa Concordia Salvage Update
The Italian Council of Ministers, upon proposal from the Commissioner for the Concordia Emergency, has established June 26 (instead of June 16, as previously decided) as the date for the conclusion of the decision-making meeting of the "Conferenza dei Servizi", the committee composed of representatives of all competent authorities that will evaluate projects for the transportation of the Concordia wreck to an appropriate port for dismantling.
North Sea Accommodation Module Sealed with Roxtec
Global safety seal manufacturer Roxtec has completed a project supplying cable and pipe seals to a six level accommodation module on the Golden Eagle development. The living quarters houses 70 self-contained cabins for up to 140 people. It also includes a gymnasium, dining room, offices and a medical suite. The Nexen-operated Golden Eagle development lies about 70km northeast of Aberdeen. The oilfield is due to become operational later this year.
Australia Launches Pacific Patrol Boat Program
A new $2 billion Pacific Patrol Boat (PPB) Program unveiled today by Australian Foreign Minister Julie Bishop and Defense Minister David Johnston aims to significantly…
VSM Expands Post Fixture Vessel Services
Established in 2008 in Dubai, Vega Ships Management announces the global expansion of their all-encompassing vessel post fixture services into the world wide shipping market. Vega Ships Management offers Vessel Post Fixture Commercial Operation services, headquartered in Dubai, with Port Captains based in Al Jubail, Saudi Arabia. VSM is manned by Master Mariners and Professionals of the Shipping Industry with years of experience…
LR Addresses Fuel Changes when Entering and Exiting ECAs
From January 1, 2015, the maximum sulphur content of fuel oil used within the MARPOL Annex VI Emission Control Areas (ECAs) will be 0.10%, unless using an approved…
Sao Martinho's Sugar-Ethanol Profits Drop 50%
Net profit at Sao Martinho SA , one of Brazil's biggest sugar and ethanol groups, was 6.4 million reais ($2.9 million) in the quarter ended March 31, down 50 percent from the year-earlier period…
EIMA, HCT Begin Academic Cooperation
Emirates International Maritime Academy & Higher Colleges of Technology Look to Produce New Cadre of UAE Maritime & Seafaring Experts. The Emirates International Maritime Academy (EIMA) will collaborate with the Higher Colleges of Technology (HCT) to investigate avenues for the training of the UAE’s future maritime engineers and seafarers with the signing of a Memorandum of Understanding (MoU).
Cargo Numbers Edge Up in Long Beach
Cargo container numbers edged up 2.7 percent last month at the Port of Long Beach, making for the Southern California seaport’s busiest May since 2007 by reaching nearly 600,000 container units. Terminals handled 599,509 TEUs (twenty-foot equivalent units) overall in May, including 312,439 TEUs of imports, which is a 2.3 percent increase compared to May 2013. Exports were flat with a slight decline of 0.3 percent to 146,702 TEUs. Empty containers rose 7.1 percent to 140,368 TEUs.
