Negative Outlook for Global Shipping Industry: Moody’s
Moody's Japan K.K. says that its outlook for the global shipping industry over the next 12-18 months is negative. "The negative outlook reflects our expectation that earnings will worsen…
Transition to the 0.50% Global Sulphur Cap
The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) is expected to decide on the timing of the global 0.50% sulphur…
Maersk Line's Remote Control Management
One of Maersk Line's innovations turns the reefer container into a digitally connected device! "At Maersk Line, we’re always looking for ways to improve cargo care on behalf of our customers.
Greece's Competition Commission Okays OLP-COSCO Deal
The Competition Commission approved the sale of a majority stake in Piraeus Port (OLP) to China’s COSCO during its meeting on Wednesday, saying it is in line with Greek competition laws.
Newport Shipyard Buys Custom Marine Travelift
Marine Travelift Inc. announced that Newport Shipyard has purchased a customized 200CII mobile boat hoist for its Newport, R.I. facility. When it’s delivered this fall…
Maritime Security Experts Weigh in on West Africa
Maritime operations in West Africa are affected by threats from piracy and other maritime crime. It is very complex to get an overview of the different types of…
Orca ESS Retrofit for Norwegian Research Vessel
Corvus Energy’s next generation Orca ESS has been selected by Halvorsen for the retrofit of the fisheries and environmental research vessel MS Johan Hjort. Halvorsen Power System AS has selected Corvus Energy as the supplier of the lithium ion based energy storage system (ESS) for a retrofit of marine research vessel, MS Johan Hjort. Corvus will supply its recently released, next generation Orca Energy solution to provide power to the vessel for peak shaving…
Deegan Named President of Gibbs & Cox
Gibbs & Cox, Inc. (G&C) Chairman Ned Daffan announced today the appointment of Chris Deegan as President and Chief Executive, effective immediately. Deegan, previously Vice President of G&C's Engineering Group, will replace Rick Biben, who is retiring but will remain on the G&C Board of Directors. Deegan spent nearly 28 years in the Navy's acquisition and cost engineering communities, leading nuclear submarine, ship and combat systems programs prior to joining Gibbs & Cox in 2013.
FPSOs Sit Unprecedentedly Idle
The 20 year four-fold growth pattern in the world’s FPSO fleet stalls out in 2016 with a record number of FPSOs idle and available for redeployment – or perhaps to be forced into other uses, lay up or scrap. FPSO redeployments typically are far more complex, costly and risky than for (say) drillships and yet the need for redeploying idle FPSOs is now in the forefront of the industry like never before as FPSO owners also have to face the worst ever down market for their equipment and services.
Scrubbers Installed on Another Great Lakes Bulker
The Interlake Steamship Company’s M/V Lee A. Tregurtha sailed today from Fincantieri Bay Shipbuilding Company in Sturgeon Bay, Wisc., becoming the shipper’s third self-unloading bulk carrier to be outfitted with exhaust gas scrubbers. Interlake became the first U.S.-flag fleet to test scrubbers on the Great Lakes in April 2015 after pioneering the emission-reduction technology on its M/V Hon. James L. Oberstar. Earlier this month, the M/V James R.
MTG Presents Latest Dredging Solutions in Miami
MTG attended the Wodcon XXI World Dredging Congress and Exhibition from June 13-17, 2016, introducing its latest solutions for the dredging market. The new MTG Systems…
OOCEP Ships First Crude Oil from MGP Terminal
Oman Oil Company Exploration & Production LLC (OOCEP) shipped its first crude oil cargo from the Musandam gas plant (MGP) with the support of UAE-based Marsol International. OOCEP, a subsidiary of Oman Oil Company S.A.O.C exported 300,000 barrels of crude oil as part of the operation, which were fully processed at the MGP on May 4 in Oman. Marsol, a global marine solutions provider focused on the offshore oil terminal market and related infrastructure…
Yanmar Names US/Canada West Coast Distributor
Valley Power Systems has entered into a distributor agreement with Yanmar America Corporation for the sale and service of Yanmar’s commercial marine diesel engine line throughout the states of California, Oregon, Washington and Alaska, as well as the Canadian province of British Columbia. In business for over 65 years, Valley Power Systems provides power and propulsion products for the commercial and pleasure craft marine industries from manufacturers such as MTU…
ABB Opens Integrated Operations Center in Singapore
ABB is opening a new integrated Operations Center in Singapore, the third facility of its type and first in Asia, which will allow the company’s engineers to follow the sun across the globe. Typically, at the end of the working day, the Singapore Center will handover to colleagues in Norway and Finland and this process will continue across the globe when a new Integrated Operations Center is opened in the U.S. later this year.
RBS Taking Bids for Greek Shipping Business
The Royal Bank of Scotland has received bids for its Greek shipping finance business which is worth about $3 billion as it looks to scale down on non-core activities…
This Day In Naval History: June 22
1807 - Frigate USS Chesapeake, commanded by James Barron, is stopped by British frigate HMS Leopard after killing several of her crew and take Royal Navy deserters. Barron is court-martialed for not having his ship prepared to fight. 1884 - USS Thetis, USS Alert, and USS Bear, under Cmdr. Winfield S. Schley, rescue Lt. Adolphus W. Greely and six of his exploring party from Cape Sabine, where they are marooned for three years.
EU Calls for Free Passage in South China Sea
Countries must be free to pass through the South China Sea, the European Commission said on Wednesday, in its first diplomatic admonishment of Beijing after Chinese jets intercepted a U.S.
Indonesian President to Assert Sovereignty in Islands Visit
The Indonesian president will travel to the Natuna Islands for the first time on Thursday to assert Indonesia's sovereignty, a senior official said, after China…
Bollinger Delivers FRC Joseph Tezanos the US Coast Guard
Bollinger Shipyards has delivered the 18th Fast Response Cutter (FRC), USCGC Joseph Tezanos, to the United States Coast Guard on June 22, 2016 in Key West, Fla. The vessel is scheduled to be commissioned in Puerto Rico during August 2016. “We are pleased to announce the delivery of the latest FRC built by Bollinger Shipyards, the USCGC Joseph Tezanos, to the U.S. Coast Guard,” said Bollinger president and CEO, Ben Bordelon, announcing the ship’s delivery.
Recovering Freight Rates Pose Risks for Shippers
According to Xeneta’s global database of over 12 million contracted ocean freight rates, the containership market is staging a small recovery, with short-term rates rising, suggesting long-term costs could soon follow suit. This may be positive news for carriers, but it does pose risks for shippers, noted Xeneta CEO, Patrik Berglund. Oslo-based Xeneta, a benchmarking and market intelligence platform for containerized ocean freight…
