Asia VLCC Rates Hold Steady after Near 4-week High
Freight rates in Asian trades for very large crude carriers (VLCCs) are set to hold steady around current levels next week, after hitting a near four-week high on Thursday, as tanker supply matches cargo demand. "I can't see the market crashing, or spiking. There are enough ships - there is no real shortage of tonnage," a Singapore-based supertanker broker said on Friday. Around 32 VLCC cargoes have…
This Day In Naval History - February 19
1900 - President William McKinley signs an Executive Order placing Tutuila (Samoa) and nearby islands under the Navy Department. 1942 - The Japanese attack Darwin, Australia in the largest attack by a foreign power on that country. USS Peary (DD 226), as well as an Army transport and freighter sink in the raid, as well as a number of Australian and British vessels. 1942 - The overnight Battle of Badoeng Strait begins when the allied naval force (ABDA) commanded by Dutch Rear Adm. W.F.M.
Asia-Europe Box Freight Rates Slide 23%
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 23 percent to $332 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. The current level is widely seen as a loss-making for container shipping companies that transport everything from flat-screen TVs to sportswear from Asia to Northern Europe.
DOF Prepares for Weak Oil Service Market
Oil services firm DOF on Friday forecast 2016 earnings before interest taxes and depreciation (EBITDA) in the range of 2.9-3.3 billion crowns compared to 3.36 billion in 2015. "I hope we can be somewhere in the middle, depending on currency and how we are able to find new work for our boats," Chief Executive Officer Mons Aase said when presenting the firm's fourth quarter earnings. DOF is expecting some difficult years ahead though…
IMCI Accredited for Exhaust Emissions Measurement
The International Marine Certification Institute (IMCI) has become an accredited laboratory for exhaust emissions measurement. The official announcement was confirmed…
CMA CGM Benjamin Franklin Inaugrated in Long Beach
Shipping group CMA CGM announced that the 18,000 TEU capacity CMA CGM Benjamin Franklin, the largest vessel ever to call the United States, will be inaugurated today in Long Beach, Calif. in the presence of Jacques R. Saadé, CMA CGM Chairman and Chief Executive Officer. The inauguration will gather more than 600 American figures from economic, industrial, institutional and political backgrounds. Alongside Jacques R.
First Vessel Secures IMO Polar Code Compliance
AHTS Magne Viking, owned by Viking Supply Ships, is in compliance with the new IMO Polar Code, confirms DNV GL and the Danish Maritime Authority following a successful survey. “Having followed the development of the Polar Code for some years, it is a great achievement to finally survey the first vessel to comply with the Code,” said Morten Mejlænder-Larsen, responsible for Arctic and Polar activities at DNV GL - Maritime.
UN's Climate Chief Figueres to Quit
The U.N.'s climate chief said on Friday she will step down in July, at the end of a six-year term, and praised governments for reaching a 195-nation deal in Paris in December to shift the world economy from fossil fuels to cleaner energies. Christiana Figueres, a 59-year-old Costa Rican, said she would not accept any extension of her term as head of the Bonn-based U.N. Climate Change Secretariat after what she called the historic Paris Agreement.
Bouchard's Newest ATB Christened in New Orleans
Bouchard Transportation Co. celebrated the naming of the M/V Donna J. Bouchard and the B. No. 272 at the christening ceremony held on Thursday, February 18 in New Orleans. The ceremony began with remarks from Bouchard Transportation Co., Inc. President/CEO, Morton S. Bouchard III, followed by VT Halter Marine and ExxonMobil/SeaRiver Maritime. Vessel sponsor Joan Lesniewski, wife of Robert Lesniewski of ExxonMobil/SeaRiver Maritime…
US Maritime Commission Collects $520,000 in Penalties
The U.S. Federal Maritime Commission (FMC, the federal agency responsible for regulating the nation’s international ocean transportation, has completed compromise…
Passenger Ferry Launched for Azam Marine
The eighth Incat Crowther-designed vessel for Tanzanian operator Azam Marine, passenger ferry Kilimanjaro VI, has been launched. Built by Richardson Devine Marine, the 39-meter catamaran ferry builds on the operational experience of the fleet and brings improvements to passenger accommodation and propulsion, as well as a new, sleeker appearance, the designer said. Kilimanjaro VI features four ramps per side to load passengers and luggage.
EIA: Floating Storage Up, Shipping Routes Altered from Distillate Oversupply
According to a weekly update from the U.S. Energy Information Administration (EIA), an oversupply of European distillates is raising the amount of product being held in floating storage, and also causing changes to shipping routes to slow delivery to the continent. Europe is experiencing a relatively warm winter resulting in weaker demand, and also high refinery runs in Europe and increased imports have kept distillate inventories in the Amsterdam…
Sinopec Plant Resumes Diesel Export after Blasts
A Sinopec Corp -operated refinery in the northern Chinese city of Tianjin resumed exporting diesel this month after a five-month halt following massive explosions in the port area…
COSCOCS to Keep Alliances for Now, Review Partners Later
China Cosco Shipping (COSCOCS), China's biggest shipping line, plans to carry out a careful selection of its future vessel-sharing alliance partners, but will maintain…
Two Migrants Drown off Sicily, Italy Coastguard Says
Two migrants drowned off the coast of Sicily, Italy's coastguard said on Friday, adding to the thousands who have died in the Mediterranean in the last year as European…
Baltic Dry Index Edges up on Improved Rates for Smaller Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, marginally rose on Friday on improved rates for smaller vessels.
Excellence in Partnering Award for "Atlantic Canyons" Team
The National Oceanographic Partnership Program (NOPP) will present the 2015 Excellence in Partnering Award to 17 organizations involved in the Atlantic Canyons study…
Damen CSD350 dredger for 200 km Internal Waterway
Nicaraguan Tourist Agency selects Damen CSD350 dredger for 200 km internal waterway project. A contract has been signed by EPN, the Nicaraguan Port Authority, and INTUR…
G6 Alliance Voids Asia-Europe Sailings
Members of the G6 Alliance today announced additional void sailings within their Asia-Europe product in response to changes in market demand. As the G6 Alliance…
Navig8 Acquires Two Newbuildings
Navig8 Product Tankers Inc., today announced that it has taken delivery of two further product tankers from its newbuilding program – the Navig8 Symphony, a 110…
