OSI to Deliver TDNS for Asian Submarine New Builds
OSI Maritime Systems (OSI) announced it has signed a contract to provide its advanced Tactical Dived Navigation System (TDNS) to an Asian navy for a new build submarine program.
Strong Cruise Season Marks Canada Place’s 30th Anniversary
Port Metro Vancouver’s 2016 cruise season officially kicks off today with the arrival of the Star Princess at Canada Place. Vancouver expects to welcome approximately 830,000 passengers on 228 calls, reflecting a forecasted 3 percent increase in passenger volume over 2015. “2016 marks the 30th anniversary of Canada Place,” said Robin Silvester, President and Chief Executive Officer at Port Metro Vancouver.
US Gulf Coast Diesel Exports Down Sharply
Diesel fuel exports from the U.S. Gulf Coast declined sharply since December as increasing output from refiners in South American markets and brimming stocks in Europe squeezed key outlets…
US Judge Approves BP Civil Settlement with US Government over 2010 Spill
U.S. Judge Carl Barbier granted final approval on Monday to BP Plc's civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states. The company at the time said its total pre-tax charges from the spill set aside for criminal and civil penalties and cleanup costs were around $53.8 billion. Under the terms of the original agreement with the U.S.
Interview: Frank Foti - President & CEO, Vigor Industrial
For nearly two decades, Frank Foti has led Vigor’s transformation from a single, struggling shipyard to a thriving, increasingly diversified industrial company with 2…
Research Vessel Neil Armstrong Joins WHOI Fleet
I woke up the first night out of Anacortes, Washington, when the ship dropped out from under me and I levitated off my bunk. Then came the sound of shuffleboard in the conference room one deck above. The only trouble was, there's no shuffleboard on the research vessel Neil Armstrong. It was Halloween 2015 in the Northeast Pacific. We were in the first hours of the first voyage of the newest ship in the U.S. academic research fleet, and we were already plowing through 15-foot waves.
Oil Rebound Not Overdone, Crude in Early Bull Market -Hedge Fund BBL
Oil is in an early bull run despite the notion prices have rebounded too fast, too soon, hedge fund manager Jonathan Goldberg says as his energy-focused investment…
Venezuelan Crude Sales to US Declined 7% in March
Exports of Venezuelan crude to the United States fell almost 7 percent in March versus the same month of 2015 to 793,581 barrels per day (bpd), according to Thomson Reuters Trade Flows data…
Navios Regains NYSE Compliance
Navios Maritime Holdings Inc. Dry bulk shipping and logistics firm Navios Maritime Holdings Inc. announced that, based upon a notice received on April 1, 2016 from the New York Stock Exchange, Inc.
US Navy Destroyer DDG 114 Christened
Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division christened the company’s 30th Arleigh Burke-class (DDG 51) Aegis guided missile destroyer, Ralph Johnson (DDG 114), April 2 in front of approximately 1,000 guests. “It’s been more than a quarter century since the start of construction of Ingalls’ first Arleigh Burke destroyer, the Barry (DDG 52),” said Sean Stackley, assistant secretary of the Navy for research…
Europe Gasoline, Diesel Barge Swaps Weaken
Gasoline and naphtha crack swaps fell slightly on the week but remained supported by strong export demand for gasoline. Tankers carrying around 1 million tonnes…
Danish Investors Summon OW Bunker Parties to Court over Bankruptcy
A group of 26 institutional investors has issued a summons against bankrupt Danish ship fuel supplier OW Bunker in the latest stage of a legal campaign for allegedly misleading them in its 2014 initial public offer (IPO). The investors had said last year they would sue Bunker, private equity fund Altor and the company's board over their responsibility for the company's flotation prospectus, after the company filed for bankruptcy just months after listing.
First Offshore Aquaculture Development Green Lighted
The Norwegian Ministry of Trade and Fisheries has approved Norway’s first development concession enabling Ocean Farming AS, supported by Kongsberg Maritime AS, to build the world’s first automated ‘exposed’ aquaculture facility. Situated outside of Trondheim, this new facility introduces a paradigm shift in salmon farming now, and other fish types in the future and is a significant step in Norway’s efforts to deliver technical solutions to address the impending global food gap challenge.
Study: Ship Efficiency Standards Too Weak to Drive Improvements
Shipping’s only legally binding climate measure is not stimulating the uptake of new technologies or driving efficiency improvements, according to a new independent study. Since 2013 newly-built ships subject to the International Maritime Organization’s (IMO) design fuel efficiency standard – known as the EEDI – have performed much the same as those not covered, the report for NGOs Seas At Risk (SAR) and Transport & Environment (T&E) finds.
ACK Marine & General Contracting Launched
Kim Shaughnessy, longtime chief financial officer and chief operating officer of Cashman Equipment Corp., officially announced the opening of ACK Marine & General Contracting, LLC, a global marine construction and contracting company based in Quincy, Mass. The firm is certified as a Women Business Enterprise (WBE) at the national level. “I literally have grown up in the marine construction and services industry…
Port2Port, Neptune Maritime Security to Merge
Two global maritime security risk management providers Port2Port Maritime Security and Neptune Maritime Security announced they have agreed to merge. The combined group will provide significant scale and service advantages to the shipping and offshore industries, as well as improving the global reach of both companies. The merger follows an extensive strategic evaluation process between both companies…
West Calcasieu Port to Undergo Waterfront Upgrade
West Calcasieu Port officials have awarded a $1.6 million construction contract to Orion Marine Construction, Inc. for the replacement of bulkheading along the port’s…
Baltic Index Rises for Seventh Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the seventh straight session on Monday, supported…
Unexploded Ordnance Presents Dredging Challenge
A dredging project currently underway by the Dutch contractor Martens and Van Oord in Cadzand, the Netherlands presents quite a challenge: unexploded ordnance (UXO). The village of Cadzand is located in the south west of the Netherlands, on the shores of the North Sea. Its old marina entrance needed to be updated and the harbor was to be deepened. Not a simple job taking into account that conventional Second World War explosives were hidden in the seabed.
SeaZip Continues Fleet Expansion
In a celebratory atmosphere, marking the sustained growth of its fleet, SeaZip Offshore Services has taken delivery of two Damen Fast Crew Suppliers (FCS) 2610. Continuing the company’s vessel-naming trend, the new additions will be known as SeaZip 5 and SeaZip 6. The offshore service provider now has six Damen FCS 2610 vessels in its fleet. A key modification made to both vessels was to increase their draught.
