Baltic Index Inches Up on Increased Rates for Bigger Vessels
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Friday on increased rates for bigger vessels.
Oil Price Shock Soon to be Positive Overall for Canada
Canada's economy will start to show more positive effects from the drop in oil prices than negatives from the second quarter onwards, Bank of Canada Governor Stephen Poloz said on Friday.
Total Eyes Sale of its Fuel Retailing Business in Turkey
Total aims to exit its fuel distribution business in Turkey and has asked Societe Generale to lead the sale, sources said on Friday, as the French oil producer looks…
Russia, France Close to Deal on Mistrals
Russia and France are close to reaching an agreement for Paris to cancel a frozen contract on the sale of Mistral helicopter carriers and reimburse Moscow, a Russian…
MMT Presents Surveyor Interceptor ROV (SROV)
At Ocean Business in Southampton MMT´s key topic was the new Surveyor Interceptor ROV (SROV). Together with its Norwegian partners Reach Subsea AS, MMT developed a new generation, survey ROV, named Surveyor Interceptor (SROV), which is specially designed for pipeline inspection and seabed surveys. The new SROV is designed to provide MMT´s clients with improved, accurate data to a much higher speed resulting in substantially better inspection quality at a lower cost per km.
Incat Crowther Designs Commercial Security Vessel
Incat Crowther has received a contract to design an offshore commercial oilfield security vessel for Veecraft Marine and its client, UTM Dredging Ltd, the designer announced today. Continuing its relationship with Veecraft Marine, a South African shipyard specializing in aluminum vessels, Incat Crowther said it has developed a high endurance, efficient, yet robust design. Two vessels of this design are under construction with future orders pending.
MISC Says AET Tankers Unit Not for Sale
MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers. The statement comes in response to now disconfirmed media reports that stated MISC was looking to sell AET to Teekay. Malaysian-headquartered AET operates a fleet of approximately 80 owned and chartered vessels, with one DP2 shuttle tanker scheduled to be delivered this year.
Maritime Casualty Forum Held in Singapore
More than 250 shipping and insurance professionals gathered for the first ever Asian Maritime Casualty Forum held during Singapore Maritime Week. The two-day conference, hosted by global marine and engineering consultancy London Offshore Consultants (LOC), highlighted some of the vital issues in salvage and vessel wreck removal and in particular rising costs, technological challenges and the need for the parties involved in major casualties to work more closely together.
Spanish Ferry Operator Enrolls in Carbon Credits Program
Spanish ferry operator Baleària has signed up to AkzoNobel’s carbon credits program. The company has enrolled its passenger ferry Martin i Soler into the scheme…
Horizon's Hawaii Business Acquisition Cleared by DOJ
Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The…
SDARI Inks Agreement for INTERSCHALT Loading Software
INTERSCHALT maritime systems AG, a maritime software and services provider of loading computers on board containerships, signed a cooperation agreement with the Shanghai Ship Research and Design Institute (SDARI) in Shanghai for the provision of MACS3 loading software for containerships, bulk carriers and tankers built in Chinese shipyards using SDARI designs. MACS3 provides INTERSCHALT with an approx. 65% market share of the approx. 6,000 container ships currently in existence worldwide.
Strong Tanker Market Extends Peak Season High Earnings
Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported. The demand for crude oil tankers remains high even though the winter months are far behind us. Following the winter peak season of 2013/14, crude oil tanker earnings collapsed and remained low during spring, before rebounding over the summer.
SCHOTTEL to Present Inland Offerings
SCHOTTEL will present its expertise to the U.S. inland market at the upcoming Inland Marine Expo in St Louis, June 15-17, 2015: strong push boats in Brazil, big cargo vessels in Russia and comfortable river cruise vessels in Europe - recent projects prove the competence of German Rudderpropeller manufacturer SCHOTTEL on inland waterway propulsion. The Paraguay-Paraná river system extends over 2,500 kilometers and is characterized by alterations of the rivers' flow…
Port of Ngqura’s New Automated Mooring System
The automated mooring system at the Port of Ngqura in South Africa’s east coast is poised to improve port efficiency and safety, cementing the deep water port’s position as a leading transshipment hub for the Sub-Saharan region. The system comprises 26 mooring units, the last of which arrived at the port in March 2015. “Procured from global engineering group, Cavotec, the mooring units were designed…
Fifty Mali Migrants Among Hundred Drowned in Med
At least 50 Malians from the impoverished region of Kayes were among up to 900 migrants who drowned trying to cross from Libya to Europe this weekend, the government said on Friday.
Asia Tankers-VLCC Rates Soar
Middle East VLCC rates hit $69,500 a day; daily VLCC rates average $51,000, highest since 2008 (Clarkson). Rates for very large crude carriers (VLCCs) on a key Asian…
UN Cautiously Optimistic with EU Migrant Plan
In a statement issued in Geneva, the UNHCR called on the EU to focus on saving lives and facilitating access to protection in Europe through other legal channels.
BHP Billiton Commemorates the Anzac Legacy
On the 100th anniversary of the Anzacs’ landing at Gallipoli, BHP Billiton has honoured the contribution of serving Australians and New Zealanders past and present…
Hanjin’s Subic Shipyard Wins Bid for Six Boxship
HANJIN Heavy Industries & Construction (HHIC)-Phil’s Subic Shipyard hit the jackpot bids. On April 20, the company said that it signed a deal to build six 11,000…
Salvage and Wreck Removal Conference
HINODE Events and Services Pvt Ltd., have announced the 4th Annual Conference on Salvage and Wreck Removal in India to be held on Wednesday, July 8, 2015 at Visakhapatnam on India's East Coast.
