OPEC Sees Oil Supply Hole in 2016 as Low Prices Curb Rival Output
OPEC said its oil output fell in October and forecast supply from rival producers next year would decline for the first time since 2007 as low prices prompt investment cutsā¦
South African Boatbuilding: Tugboat Honors Mandela Birthplace
Transnet National Ports Authority announced a milestone in its $98 million tug building contract when the first of its nine new tugboats was launched at the Durban premises of contractor, Southern African Shipyards. āThis is the largest single contract TNPA has ever awarded to a South African company for the building of harbor craft,ā said TNPA chief executive, Richard Vallihu. The tug was named āMVEZOā in reference to the small village in the Eastern Cape of South Africa where former Presidentā¦
Information on USCG BWM Regulation
The United States Coast Guard (USCG) has issued the rule with regard to obligation of installation of ballast water management system for the vessels engaged in U.S. waters.
Snow storms, Earthquakes - Scientists to Predict
Russian scientists have demonstrated the ability to predict earthquakes, typhoons and snowstorms on the changes of the atmosphere. "These experiments allow satelliteā¦
Kalmar Machines for MIRRAT
Kalmar, part of Cargotec, has received an order from Australia's newest and largest automotive and RoRo terminal due to open in April 2016. The terminal has been designedā¦
Declaration by Vessels Coming from Ebola-affected Countries
Following the World Health Organisationās official declaration that Sierra Leone is now free of the Ebola virus transmission from 7 November, the Maritime and Portā¦
Scientists Produce Data from Largest Single Volcano
Tamu Massif is a volcano the size of New Mexico and lurks 6,500 feet beneath the surface of the Pacific Ocean. During their 36 day expedition, the science team undertookā¦
Another Hurdle for Iran Oil Tankers Comeback
Iran's oil tanker fleet is expected to face more hurdles before many of the vessels can start trading again due to insurance hiccups and tougher requirements overā¦
TORM Product Tanker Freight Rates Climbs Up
TORMās strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard.
Iran Belgium Hold Talks to Build FLNG Unit
Minister of Petroleum, Bijan Zangeneh said that Iran and Belgium are in talks for possible floating production of liquefied natural gas (LNG) FLNG Unit off the Kharg Island in the Persian Gulf. The issue was brought up during Zangenehās talks with Belgian Secretary of State for Foreign Trade, Pieter De Crem in Tehran on Monday as the two sides look to new areas of cooperation ahead of the lifting of sanctions on Iran.
NYK and Astomos Conclude Time-charter Contract for 12th VLGC
Nippon Yusen Kaisha (NYK) concluded a time-charter contract for a new VLGC (very large gas carrier) with Astomos Energy Corporation, the world's pre-eminent liquefied petroleum gas (LPG) company.
Lack of Proper Management Systems Cause Engine Damage
A new report from The Swedish Club shows that incorrect maintenance and repair continues to be the most frequent cause of main engine damage ā a trend which hasā¦
Concordia Posts Strong Q3
Good positions in a market that exceeded expectations gave Concordia Maritime part of Swedenās Stena Group, a very strong quarter for the season. It recorded afterā¦
ICBC Signs Financing Deal with F.Laeisz
The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH. Under the agreement, the ICBC will provide 65 million U.S.
DSME Ordered to Halt Production After 2nd Fire
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) has received orders from government officials to cease production on five of its ships presently under constructionā¦
Boeing Expects First Maritime Spy Plane Sale in Next Few Years
Boeing Co (BA.N) is in "very serious conversations" with five customers about its new Maritime Surveillance Aircraft, a long-range spy plane based on Bombardier's 605 business jetā¦
SBM Offshore Hit By Slowing Industry Spending
SBM Offshore the world's top oil production ship leaser, said on Wednesday a fall in orders hit its third-quarter revenue as clients trimmed spending amid ongoing low oil prices. The Amsterdam-based company, which generates roughly 60 percent of its business in Brazil, is negotiating a settlement with authorities there over alleged payments to state officials to win contracts with Pertobras, Brazil's state-run oil company.
Peru to Cut O&G Royalties to Counter Price Slump
Peru is reducing royalties on oil and gas production to about 5 percent on average from the current 20 percent in order to encourage exploration amid slumping prices, the government said Wednesday.
New Drydock for FMT Shipyard and Repair
Gulf Island Marine Fabricators has recently delivered a new drydock named the J.B. Barthelemy to FMT Shipyard and Repair. The new drydock, which is 180 feet long and 73 feet wide with 63-foot clearance between the wingwalls, seven-foot deep pontoon with 18-foot high wing walls, has a 2,400-short-ton capacity and will be located at FMT Shipyard and Repair yard on the Harvey Canal. The drydock has a 225 kilowatt genset provided by Kennedy Engineā¦
Video: Dredgers at Work in Latin America
A major port in Latin America is in the midst of an expansion project to increase its container handling capacity and accommodate Post-Panamax vessels. Commissioned for this project are two Ellicott cutter suction dredges, which are both currently at work deepening the berthing area for the new terminal. The first Ellicott dredge, a Series 370 with a 300 x 250 mm pump and 328 kW of total installed power, has been working at this port for over six months.
