Oil’s Downward Spiral Stalls LNG’s Ascent
As industry embraces gas, emissions regulations loom large and bunker logistics options develop, LNG’s fortunes nevertheless get a boost. For every gleeful consumer at the pump, and stockpiling tanker anchored offshore, there’s a corresponding trail of businesses that are struggling to ride out the worst price drop in crude since the mid-1980s. As oil giants slash CapEx, Halliburton and other industry players layoff thousands and record numbers of oil rigs go offline…
Baltic Dry Index Climbs to an All Year High
The dry bulk market has been devastating so far in 2015. However, June has somehow reversed it all in less than three weeks if judged by the Baltic Dry Index (BDI). June has delivered what May was unable to – keeping the momentum going. Since the drop in January, we have seen the BDI average at 576 for the four months of February to May. In contrast to that the BDI stand at 829 on 24 June 2015. According to data from Commodore Research, Chinese iron ore fixtures hit an all-year-high in mid-May.
MN100 Edition Deadline Fast Approaching
The August 2015 edition of MarineNews, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators…
PPG Unveils NOVAGUARD 810
Solvent-free product offers a single-coat solution for rapid cure and return to service, suitable for a wide range of oil products and chemical cargoes. PPG Protective and Marine Coatings has unveiled NOVAGUARD 810, a specialized tank storage coating which provides outstanding resistance to a wide range of chemical and oil products. The solvent-free coating minimizes application hazards and is equally suited to the lining of new tanks and the refurbishment of existing ones.
VARD Acquires ICD Software
Vard Holdings Limited (VARD) has announced that through its subsidiary Seaonics, it has acquired ICD Software, a leading provider of automation and control system…
Viking Delivers Response 35’ Tri- Landing Craft
After a protracted procurement process Viking has delivered a high speed, high capacity landing craft to Palm Beach County, FL. Originally specified as a catamaran, the final design by Response Marine is more of a tri-hull as the center hull was enlarged and the bridge span lowered in order to accommodate the required loading range without increasing draft. According to Response Marine’s Bill Lincoln…
Wave Piercing Cat Utility Craft Delivered to Nigeria
Incat Crowther has announced the delivery of Benreoch, a 30m Wave Piercing Catamaran Utility Craft built by Veecraft Marine in Cape Town, South Africa. The vessel was developed specifically for crew transfer to offshore platforms in Nigeria. At 30.3m in length and 8.5m in beam, Benreoch is 2.7m longer and 1m wider than her predecessors, Topaz Zenith and Topaz Zephyr. The larger platform has been used to increase the aft working deck capacity, with a 53m2 cargo area and rescue boat and crane.
Current Convoy Information Ahead of New Suez Canal Opening
Inchcape Shipping Services (ISS), is advising on current Suez convoy information ahead of the new Suez Canal’s inauguration on 6 August 2015. The new Suez canal measures from 60 kilometres in length to 95 kilometres in length, while the project also involves deepening and widening the Great Bitter Lakes and Ballah bypass to a total length of 37 kilometres. On completion, the new Suez Canal will create a new parallel waterway to the existing one…
CWind Wins Crew Transfer Vessel Contract
CWind has announced that it has won a six months contract to provide crew transfer services to Greater Gabbard Offshore wind farm. Its 19m catamaran, one of more than 20 crew transfer vessels in the fleet operated by CWind, will assist with O&M activities at the project, which became operational in August 2013. Under the contract, Greater Gabbard may decide to extend the charter of the vessel by an additional three months.
U.S. West Coast Refiners Snap up Russian Crude
Move comes amid worries of seasonal dent in Alaskan supply; gap between U.S., international crude prices narrows. Refiners on the U.S. West Coast and Hawaii have stepped up purchases of Russian crude…
Channel Tunnel Traffic Resumes After Strike
Traffic through the Channel Tunnel linking Britain and France has resumed, a spokesman for operator Eurotunnel said on Wednesday. "Traffic is totally normal in both…
Egypt: Wheat to Take Less Time to Offload
Egypt's supply minister said on Wednesday a plan was being studied to cut the offloading period for wheat cargoes in ports from the current 12 days to five or six…
HMAS Newcastle Seizes $1 bln in Narcotics
Royal Australian Navy frigate HMAS Newcastle patrolling with the Combined Maritime Forces in the Middle East region has seized another 581kg of illegal narcotics…
New Bunker Rules in Hong Kong
In accordance with "Air Pollution Control (Ocean Going Vessels) (Fuel at Berth) Regulation" of the Government of Hong Kong, vessels berthing in Hong Kong waters…
VIKING Saatsea Courses Get Flag Approval
VIKING Saatsea has achieved flag state approval for its STCW on-board training solution with refresher modules according to new STCW 2010 Manila Amendments. The approval of the company’s 24/7…
The Hour of the Wolf for Panamaxes - Platts Report
Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in minerals demand…
Global Opens S. California Office
Global Diving & Salvage, Inc. has expanded its California Regional operations with the addition of a new office in Southern California. Located in Signal Hill near Long Beach…
New DCF Valuations on VV
VesselsValue.com is launching Discounted Cash Flow (DCF) valuations to its existing portfolio of daily, automated valuations for the shipping industry. Discounted…
