Man-made Warming the Main Cause of Glacier Retreat -Study
Man-made greenhouse gas emissions have become the dominant cause of melting in glaciers from the Alps to the Andes that is raising world sea levels, a study said on Thursday. Human emissions accounted for an estimated 69 percent of loss of ice from glaciers from 1991-2010, overtaking natural climate variations that had been the main driver of a retreat since the mid-19th century, researchers wrote in the journal Science.
Putin Says Many European Leaders Want to End Sanctions Standoff
Russian President Vladimir Putin on Thursday said he believed many European leaders were eager to end the standoff over sanctions with Russia. "I think that many in Europe including the politicians, my colleagues, ... (want) to get out as soon as possible of a situation, which is damaging our cooperation," Putin said during a visit to the Crimea peninsula, which Russia annexed from Ukraine earlier this year.
TEN Charters Out Suezmax Tankers
Tsakos Energy Navigation Limited (TEN) announced the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months, with charterer options for another 12 months for each vessel at a base rate with profit sharing. TEN expects minimum gross revenues of about $35m for the period. In addition, TEN announced the start of a partnership with another oil major for the construction and chartering of two LR1 tankers for five years.
FSL Trust Sees First Quarterly Profit Since 2011
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust) has generated a profit of $1 million for the 2Q of the 2014 financial year. This profit compares to a $7.2 million loss for the 2Q’s corresponding previous year. This turnaround succeeds the restructuring efforts of the senior management team. FSL Trust has seen a performance improvement in the past quarter due to initiatives that were implemented September 2013.
CMR Debuts Gas Engine Pressure Regulator
A range of gas engine pressure regulators, which provide control of pressure levels within the fuel train on dual fuel or natural gas engines, is new for control and instrumentation specialists CMR Group. CMR’s regulators enable high-pressure gas fuel from lines and tanks to be reduced to safe and/or usable pressures for the secure and reliable operation of high horsepower engine technology used in…
Great Lakes’ Ore Float at 6-year High
Iron ore shipments on the Great Lakes totaled 7,231,506 tons in July, the highest level since July 2008 when 7,318,961 tons were loaded at U.S. and Canadian ports. This July’s total also represents an increase of 8.6 percent over June and 10.2 percent over a year ago. U.S. Great Lakes ports accounted for the upturn. Loadings totaled 6,681,796 tons, an increase of nearly 18 percent compared to a year ago.
American Club Issues Steel Cargo Warning
The American P&I Club has updated its advice to members on the handling of steel cargoes. It has done so in consequence of some recent cases where the absence of pre-loading surveys increased the cost of steel cargo claims on discharge. It first raised the problem in a March 2002 circular, making extensive recommendations so as to minimise the prospect of spurious steel cargo claims. In a new circular, Shipowners Claims Bureau, Inc.
BIMCO: Reforms Necessary to Improve Economy
The International Monetary Fund (IMF) has downgraded its global growth projection from 3.7% in April to 3.4% in July. The adjustment is primarily due to the large negative result in the U.S. in the first quarter of the year. The IMF stressed that this is now behind us – and it therefore sticks to its 2015 projection with an unchanged growth level of 4.0%. Moreover, the outlook for the various emerging markets including…
Today in U.S. Naval History: August 14
Today in U.S. For more information about naval history, visit the Naval History and Heritage Command website at history.navy.mil.
SAFE Boats Partners with NASBLA
SAFE Boats International announced a Mission Partner Sponsorship with the National Association of State Boating Law Administrators (NASBLA). Signed on July 28, 2014, this agreement unifies the interconnected missions of both organizations to jointly enhance the safety and security of our nation’s waterways by strengthening the abilities and enhancing the knowledge and skills of every maritime law enforcement officer and emergency responder.
Rolls-Royce VP Shares His Views on Alternative Fuels
Experts predict the internal combustion engine will not lose its dominant position any time soon, but developing engines to meet ever tighter emission limits is costly. So what role are alternative fuels likely to play in the future? Oskar Levander, VP Innovation, Engineering and Technology at Rolls-Royce Marine shares his views. Although nobody can predict how long our oil reserves will last, we can forecast with certainty that demand for it, and with it the price, will continue to stay high.
GWMC Appoints Strand and New Board Members
Goltens Worldwide Management Corp. (GWMC) has announced the appointment of Roy Strand as Chief Operating Officer. Strand has previously served as the Vice President of Operations in the Americas and Europe, and will continue to serve as the Advisory Board Chairman within the Goltens Worldwide group of companies. Prior to joining Goltens, Strand held various managerial and global executive positions in the professional services field…
Ocean Signal Appoints Furuno Italy Distributor
Communications and safety at sea specialist Ocean Signal has appointed FURUNO Italia S.R.L. as its new distributor for Italy. Following confirmation of the new partnership, FURUNO is now able to market and supply the entire Ocean Signal range of products, which includes its SafeSea portfolio of GMDSS products and its innovative rescueME PLB1. As global leaders in the development and distribution of a range of marine electronics…
Rolls-Royce Partners with Nauta S.A. Repair Yard
Rolls-Royce Marine and Nauta S.A. ship repair yard have signed a cooperation agreement in Poland. Under the new partnership, Rolls-Royce Marine will gain exclusive rights to provide services on all Rolls-Royce equipment coming into the shipyard. In return, the cooperation is expected to bring in an increased flow of customers into the shipyard, knowing they can readily access the original equipment manufacturer expertise required for the work…
Register Now for SHIPPINGInsight and Save Up to $400
SHIPPINGInsight 2014 is coming soon, but there’s still time to take advantage of the early-bird registration discount. Attendees registering prior to the Aug. 28 early-bird deadline can receive a discount up to $400 for the event, which takes place Sept. 30-Oct. 2, 2014 at the Sheraton Stamford Hotel in Stamford, Conn. SHIPPINGInsight 2014 encompasses three days of activities, including the one-day Marine LNG Symposium Sept. 30 and the Fleet Optimization Conference & Exhibition Oct. 1-2.
Brazil Iron Ore Terminal will Start This Year
Trading firm Trafigura and Abu Dhabi sovereign wealth fund Mubadala said on Thursday their Brazilian port for exporting iron ore will start this year, in response…
GMS Applauds Hapag-Lloyd's Recycling Move
Global Marketing Systems, Inc (GMS) has welcomed the announcement that German owner, Hapag-Lloyd, will no longer sell vessels to recycling yards that do not comply with strict environmental regulations and guidelines. Dr. Dr. Sharma advises caution, however, in managing what is effectively a whole new way for the industry to do business. “At this early stage, shipowners must target their custom towards recycling yards in all areas of the world, including India, China and Turkey.
MOL Bulker is the First Built with Safer Hull
Mitsui O.S.K. Lines, Ltd. (MOL) announced the world’s first use of highly ductile steel plate NSafe-Hull, developed by Nippon Steel & Sumitomo Metal Corporation on a merchant vessel. The ship featuring this new safety-enhancing feature, a large-size bulk carrier, was launched on August 2. The NSafe-Hull’s highly ductile steel reportedly absorbs side impact to the hull three times more effectively than conventional steel plate…
TUI AG Eyes IPO, Sale of Hapag-Lloyd
TUI AG is still open to a sale or flotation of its stake in container shipping company Hapag-Lloyd , its management said on Thursday. "Whichever comes first at a decent price…
Brent Crude Falls Below US$104
Brent crude fell below $104 a barrel on Thursday, after briefly bouncing off a 13-month low the previous day, on ample supplies and concerns about weak demand despite…
