Oil Prices Fall to New 12-year Lows
Global oil prices plummeted to 12-year lows on Monday, with U.S. crude futures falling to the lowest since late 2003, as traders cited fears over slowing demand in China and a growing inventory glut.
New Online Tool Links PMSCs with Potential Clients
Ship owners and managers now have the chance to choose the most cost-effective private maritime security company (PMSC) to protect their ships via a new online tool launched Monday. The online program, known as Marsec Manager, is the brainchild of Bastion International, a maritime security brokerage company offering cost-effective security solutions to shipping companies from some of the best providers in the industry.
Yidong Terminal Orders Hybrid RTG Cranes
Yidong Terminal has ordered nine additional retrofit hybrid rubber-tired gantry cranes (RTGs) produced by integrator CCCC Shanghai Equipment Engineering (CCCCSEE) for Shanghai Zhenhua Heavy Industry Co. Ltd. (ZPMC), to be installed in Port of Shanghai. This addition will bring the total number of such hybrid cranes to 21 in the Port of Shanghai, spanning three terminals: Yanshan, Waigaoqiao and Yidong – the largest installations of hybrid electric port equipment in the world.
GCT Deltaport Grows Capacity with Konecranes RTGs
Complementing its GCT Deltaport Intermodal Yard Reconfiguration project in Port Metro Vancouver, GCT Canada has confirmed the order of twelve state-of-the-art rubber tyred gantry (“RTG”) cranes from leading clean energy equipment manufacturer, Konecranes of Finland. The new equipment will boost yard velocity at the country’s flagship container terminal, densifying container handling with the RTGs’ 1-over-5 high and 40 LT lifting capacity.
Marine Fuel Management Tech Launched in Mexico
Diesel power specialist Royston has expanded the worldwide distribution network for its Enginei marine fuel management system with new sales representation in Mexico. The newly created IntellFuel de Mexico will provide sales, distribution and technical service support for the Enginei system, which uses powerful data collection software to significantly expand the range of real time fuel, engine performance and voyage data used for crucial fuel analysis and optimization decisions.
China and Vessel Glut Drive Baltic Index to Fresh Low
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, slid to a fifth consecutive record low on Monday on economic…
LOC Launches Hull and Machinery Service
International marine and engineering consultancy LOC has launched a new Hull and Machinery (H&M) service, to be offered group-wide with specialist support from LOC’s main offices in London…
Largest FPT Lock Gates Installed in the Netherlands
New fiber reinforced polymer lock gates, reportedly the world’s largest, were installed in the new Lock III in the Wilhelmina canal in Tilburg, the Netherlands on January 9. On behalf of Rijkswaterstaat (Dutch Directorate-General for Public Works and Water Management), Royal HaskoningDHV has deployed its expertise in the field of fiber reinforced polymers for the design principles, the design review and quality control.
BMT Secures US Navy Environmental Contract
Press release - BMT Designers & Planners, a subsidiary of BMT Group, an international maritime design, engineering and risk management consultancy, has been awarded a United States Navy Environmental Quality Programs Support contract at a value of $43 million over five years. BMT will expand its environmental, engineering and logistics services practice to support the program and other similar client requirements.
Oil Off to a Turbulent Start in 2016 -DW
Oil prices have been extremely volatile since the first trading day of 2016 and hit 12-year lows last week with Brent dropping below $33 a barrel for the first time since 2005.
Shanghai Port Profit Falls; First Drop in Four Years
Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, posted a 4 percent fall in its 2015 preliminary net profit, marking…
Arch Coal files for bankruptcy
Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with…
Maher Named Ship Repair GM at ASRY
ASRY appointed Charles Maher as the new General Manager (GM) of the Ship Repair division, effective January 4, 2016. Maher brings more than 15 years worth of corporate and hands-on technical shipyard experience at Dormac Marine & Engineering, Grand Bahamas Shipyard, and Southern African Shipyards. He will lead the newly restructured Ship Repair division of ASRY. Maher’s appointment will overlap with the outgoing Ship Repair GM…
India Court Jails 25 from 'Seaman Guard Ohio'
An Indian court on Monday sentenced crew members of a private American ship, including 25 foreigners, to five years in prison for illegal possession of arms in Indian…
Russian Class for New FSRU
A Floating Storage Regasification Unit (FSRU) will be built to the class of Russian Maritime Register of Shipping (RS). The agreement on classification of FSRU under construction has been signed between RS and Hyundai Heavy Industries, the Republic of Korea. According to Georgy Bedrik, Head of the RS Planning and Marketing Division, one of the key features distinguishing the FSRU from other gas carriers built to the RS class involves the LNG regasification system…
First LNG-fuelled Bulker as per DNV GL New Rule Set
ESL Shipping’s new dual-fuelled bulk carriers will not only be the first large LNG-fuelled bulkers, but the first vessels constructed to the new DNV GL rule set, the classification society announced.
BBC Chartering Opens Office in London
BBC Chartering announces the opening of a new representative office in London, United Kingdom, starting immediately. “We continue to strengthen our position at important shipping hubs for breakbulk…
LOC Launches Global H&M Service
Leading international marine and engineering consultancy LOC has launched a new Hull and Machinery (H&M) service. The service will be offered group-wide, with specialist…
Krishnapatnam Port Led Consortium to set Up LNG Terminal
Krishnapatnam Port Company inks agreement with Government of Andhra Pradesh and Petrogas Pvt. Ltd. Krishnapatnam, India’s largest; all weather, deep water port on…
BCT Upgrades Intermodal Facility
Baltic Container Terminal (BCT) in Gdynia, Poland recently completed its railway terminal modernization project last December. Part of BCT’s largest investment program…
