Canal Marine, Techsol Marine Enter Partnership
Canal Marine and Techsol Marine announced a partnership agreement that will combine the companies' expertise for providing marine system design and fabrication, including switchboards…
Vancouver Commends Canada-S. Korea Trade Agreement
Port Metro Vancouver issued an announcement welcoming news of the signing of the Canada-Korea Free Trade Agreement yesterday in Ottawa. The agreement will significantly…
Today in U.S. Naval History: September 24
Today in U.S. 1918 - Ensign David S. Ingalls, USNR, in a Sopwith Camel, shoots down his fifth enemy aircraft, becoming the first U.S. Navy ace while flying with the British Royal Air Force. 1960 - First nuclear powered aircraft carrier, USS Enterprise (CVAN-65), launched at Newport News, Va. For more information about naval history, visit the Naval History and Heritage Command website at history.
Not All Contangos are Created Equal
After the collapse of the global financial system in 2008, crude oil forward curves moved into steep contango. Fortunes were made in storage asset plays in 2009-2010, which is likely the reason that so much attention is being devoted to the topic today; however, the contango is inherently different today than it was after The Great Recession. As the U.S. energy revolution continues to develop, global crude oil supply and demand dynamics have begun to evolve.
Warplane Bombs Port in Libya's Benghazi
A warplane attacked the non-oil port in Libya's eastern city of Benghazi on Wednesday, witnesses said. Forces loyal to former general Khalifa Haftar said they carried…
Pay-As-You-Go Satellite TV Service
KVH TracVision owners in the U.S. KVH Industries, Inc., is bringing the benefits of “Pay-As-You-Go” satellite TV service from DISH Network to customers in the marine market for the first time. This program gives seasonal boaters with TracVision satellite TV antenna systems the flexibility to pay for DISH Network service only when their boat is in the water. There is no charge for starting or stopping monthly service. This new program broadens the appeal of satellite TV on a boat.
Judge Rejects BP Bid to Recoup Some Spill Payments
A U.S. judge has ruled that BP Plc cannot recoup what it says were inflated claims paid under a multi-billion dollar settlement program to compensate people hurt by the 2010 Gulf of Mexico oil spill…
Russian Class & Arctic Operations
When it comes to Arctic operations, the Russians arguably have more hands-on experience and investment than any other nation. With that in mind, Maritime Reporter spoke recently with Georgiy Bedrik, Head of the RS Business Development Division, for his input on RS and matters of the Arctic, maritime and offshore. Please give a brief description of the market you serve. In maritime, RS renders a full scope of classification services for ships including plan approval…
Ocean Liner Queen Mary Rings in 80 Years
Beloved ocean liner Queen Mary turns 80 on September 26, and the public is invited to join a ship-wide celebration. The Queen Mary will open her gangways and ballrooms, decks and salons, attractions and eateries to a daylong celebration. There will be no charge for admission to the ship (10 a.m. - 7 p.m.), discounted ship tours and $5 parking. Commemorations will include the reading of letters by King George V at the ship's launch on Sept.
Is the US Prepared to Protect Its Arctic Interests?
The answer to this question is a resounding “no.” The U.S. is not prepared to protect its interests in the Arctic over the next decade. The primary legal regime that is being relied upon by all members of the Arctic fraternity, the Law of the Sea Convention, has not been adopted by the U.S. The operational resources needed to pursue our interests have not been funded and there is currently little prospect that they will be funded in the near future. U.S. interests in the Arctic are vast.
SAMI On Top Line Security Concerns
With progress being made against piracy off Somalia, it seems that other maritime security issues are becoming top line issues for shipowners. The Security Association for the Maritime Industry (SAMI), is a global focal point for maritime security matters, and is well placed to highlight the current maritime security concerns, those which are over the horizon and the initiatives which are being rolled out to counter the threats and mitigate the risks.
How Specialty Lenders Can Propel Marine Operators
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand?
Bordelon Begins Campaign to Fight Breast Cancer
Bordelon Marine has committed to a yearlong campaign to fight breast cancer that will see the company donate a portion of profits from its ship, the M/V Shelia Bordelon, to the New Orleans affiliate of Susan G. Komen for the Cure. In support of this partnership, Bordelon Marine will also participate in the New Orleans Race for the Cure on October 25 with the Shelia Bordelon team. The MV Shelia Bordelon, which features a pink stripe along with the Susan G.
Unpredictable & Dangerous Rogue Waves
Ever since man has taken vessels onto the seas, mariners have reported encounters with monstrous waves that seem to arise out of nowhere from an otherwise average sea state. On his third voyage to the New World in 1498, Christopher Columbus recorded in his logbook that a giant wave lifted up his vessels as they transited the waterway between the Paria Peninsula of Venezuela and the island of Trinidad, a waterway he then named Bocas del Dragón (the Mouths of the Dragon).
Pettit Launched Water-based Antifouling Paint
Pettit Marine Paint, manufacturer of high performance marine coatings, announced today the release of an entry-level water-based antifouling paint, Neptune 5. This latest addition to Pettit’s line of ecofriendly bottom paints provides lower applied cost per square foot, easier application and is priced for budget conscious consumers, the company said. Pettit said it has created a hybrid paint film strong enough to handle the tough marine environment…
New Possibilities for Imaging Measurement
With its staggering ability to show displacements of submillimeter scale to stern waves of several meters high, the Digital Image Correlation technique has been applied on a wide range of projects at MARIN. Examples from research programs in controlled conditions and full-scale trials are highlighted. In some situations conventional sensors cannot be applied. For example, when the sensors alter the hydro-dynamical or structural properties of the object or…
Kuwait to Ship Crude to Egypt in October
Kuwait said on Wednesday it would ship around two million barrels of crude oil in early October to Egypt, giving it priority as a buyer ahead of sales from storage into the Mediterranean market.
New DeepFlight Dragon Personal Sub
DeepFlight introduced a new type of personal submarine at the 2014 Monaco Yacht Show: DeepFlight Dragon, an all-electric, compact, lightweight personal submarine to explore down to 400 ft. (120m). At 3,968 pounds (1,800 kg) and under five feet (1.5 m) in height, the Dragon is less than half the weight of competing submarines and readily fits into existing yacht garages or deck areas. Like all DeepFlight personal submarines…
Exporting Crude Oil A “No-Brainer”
As I watch the back and forth in Washington – and beyond – on the issue of whether to allow the export of crude oil and LNG, I can only shake my head and wonder…
Maersk to Invest Billions, Reap Savings, but No Cash for Shareholders
Denmark's A.P. Moller-Maersk said on Wednesday it would invest billions of dollars in new ships, reap hundreds of millions in savings and announced valuable contracts for its drilling rigs. But shares of the world's largest container shipping company fell more than 3 percent, partly because it failed to announce any of the initiatives the market had anticipated for its investor day in Copenhagen. Analysts had hoped that Maersk would say it had sold a big oil asset in Angola…
