Liberian Registry to Recognize Green Award Ships
Liberia has become the first flag state to participate in the Green Award program, under which eligible shipowners will be offered significant annual tonnage tax discounts. Green Award is a global, independent, not-for-profit quality assurance organisation which certifies ship managers and vessels that go beyond industry standards in terms of safety, quality and environmental performance. The scheme…
Sovcomflot Revises Pricing on USD 7-year Bond
Russian shipping company Sovcomflot has cut the yield on its seven-year U.S. dollar bond to 5.375 percent - 5.5 percent, according to a lead. The notes will price within that range.
Paris MoU Publishes New Performance List
At its 49th meeting last month, the Paris MoU Committee approved the 2015 inspection results and adopted new performance lists for flags and Recognized Organizations.
Offshore Wind to Compete with Fossil Fuels -DONG CEO
DONG Energy's Chief Executive Henrik Poulsen said renewable energy like wind will be produced at a lower cost in the future. "I have no doubt that costs of offshore wind and solar energy over time will come down and be at same level as fossil fuels," Poulsen said. "Our vision is that green energy will be cheaper than conventional energy. "Five years ago the price for producing one megawatt was about 160 euros. "It is our clear impression the green transition has a pretty strong momentum among.
Novatek: Shareholders to Decide on $600 Mln Loan for Yamal LNG
Russia's largest non-state gas producer Novatek said on Thursday its shareholders would decide on a new loan worth $600 million for the Yamal LNG project on June 20, according to Interfax news agency. The $27 billion Yamal LNG project envisages three liquefied natural gas (LNG) production lines with a capacity of 5.5 million tonnes a year each. The gas the project produces would be exported to world markets. Novatek has a 50.1 percent stake in what will be only Russia's second LNG plant.
Almi Tankers Inks Maintenance Deal with Alphatron Marine
JRC and Alphatron Marine has announced that Greek based company Almi Tankers have signed an all-encompassing maintenance contract supporting all yearly inspections and surveys as well as any required services, for a total of 11 vessels. Alphatron Marine, together with local partner in Greece, Nova Electronics, will support the Almi Tankers fleet worldwide, including service, upkeep, and preventive maintenance services to secure the overall smooth running of bridge equipment.
Second LNG-powered Cement Carrier Delivered
Dutch shipbuilder Ferus Smit has delivered the second LNG-powered cement carrier, MV Ireland, to owners JT Cement, a joint venture between Swedish shipping company Erik Thun AB and Norway’s KG Jebsen Cement. MV Ireland, along with sister vessel MV Greenland delivered in December 2015, are the first ever dry cargo vessels with an LNG fuelled propulsion system and LNG tanks integrated inside the hull, the builder said.
Wärtsilä Powers the World's Largest Cruise Ship
Royal Caribbean International's Harmony of the Seas, featuring Wärtsilä engines, propulsion equipment, exhaust scrubber systems, Wärtsilä NACOS Platinum navigation and dynamic positioning systems, as well as Wärtsilä CCTV systems and various electrical & automation solutions, is now in commercial operation. The 'Harmony of the Seas' has also been included in a service agreement between Wärtsilä and Royal Caribbean covering technical management and monitoring under Wärtsilä Genius services.
This Day In Naval History: June 9
1813 - During the War of 1812, the frigate, President, commanded by John Rodgers, is en route between the Azores and England when it begins a series of captures of British vessels that include the brig Kitty, the packet brig Duke of Montrose, the brig Maria, and the schooner Falcon. 1869 - Secretary of the Navy Adolph E. Borie, orders the construction of the first torpedo station on Goat Island, Newport, R.I. Cmdr. Edmund O. Matthews is the first Commanding Officer.
S. Korea Boosting Condensate Imports from Iran
South Korea, Asia's largest buyer of condensate, will step up purchases of the ultra light oil from Iran by more than 50 percent in June, two sources said, as competitive…
BP, Eni Make Gas Discovery off Egyptian Coast
Energy majors BP and Eni on Thursday announced a significant natural gas discovery off the Egyptian coast. The discovery is in the Baltim southwest exploration prospect in the East Nile Delta.
No New Australian LNG Projects Doesn't Mean No New LNG
Conventional wisdom in the liquefied natural gas (LNG) sector is that no new projects will be built for several years, given the vast cost can't be reconciled with the current low prices.
US Forecaster Sees High Chance of La Nina
A U.S. government weather forecaster on Thursday maintained its projections for the La Nina weather phenomenon to take place in the Northern Hemisphere later this year…
Baltic Index Rises on Better Capesize, Panamax Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Thursday due to demand for capesize and panamax vessels.
The Latest Oil Bet: From Too Much to Too Little
Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn overhang of unwanted crude…
Fishing Company Fined after Crewman’s Death
New Zealand based fishing company Talley’s Group Ltd. has been fined $73,520 and ordered to pay $21,000 in reparations to the family of a crewman killed in an on-board accident in July 2014.
Damen Sharjah wins Best Yard Award
On 29 May at the presentation ceremony for the International Maritime Awards, held at the two-day Shiptek 2016 conference in Dubai, Damen Shipyards Sharjah (DSSh)…
ISS Roll-out of its Cargo and Agency Platform, YourISS2
Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, is driving a global roll-out of its new cargo and agency platform, YourISS2.
Fireboat Dedicated at Long Beach Port
A new fireboat was officially welcomed into service Wednesday at the Port of Long Beach, representing a significant leap forward in protecting the harbor and the…
Caterpillar Maintains Dividend Rate
The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock…
