German Banks Count Cost of Global Shipping Crisis
German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders - among the biggest backers of shipowners over the past 20 years - are behind up to a quarter of the world's $400 billion of outstanding shipping loans, three shipping financiers told Reuters. This would make them collectively more exposed than banks from any other single country in terms of outstanding debt to the sector.
Ingalls Wins USS Ramage Overhaul Contract
Huntington Ingalls Industriesā (HII) Ingalls Shipbuilding division has been awarded a $14 million base contract to perform an extended selected restricted availability on the Arleigh Burke-class (DDG 51) destroyer USS Ramage (DDG 61). With all options exercised, the total contract value would be $21.4 million. USS Ramage was originally built at Ingalls and delivered to the U.S. Navy in 1995. āIngalls has a longstanding tradition in the overhaul/modernization businessā¦
Kipevu Oil Terminal to Be Relocated
The Kipevu Oil Terminal at Mombasa Port will be relocated early next year, to Dongo Kundu area, as a result of the ongoing capacity expansion program, the Kenya Ports Authority announced.
Long Beach Exports Up, Overall Volumes Down
August exports surged 14.8 percent through the Port of Long Beach compared to the same month in 2015, but lower imports drove overall volumes down, the port reported. Harbor terminals moved 641,029 twenty-foot equivalent units (TEU) in August, an 8.9 percent year-over-year decrease. Of those, 321,625 TEU were import containers, which were down 10.2 percent. Exports numbered 159,247 TEU. Empties accounted for 160,157 containers, 22.5 percent fewer than August 2015.
Salvors to Remove Fuel from Capsized Riverboat
Efforts to prepare the capsized riverboat Spirit of Sacramento for fuel removal operations are being conducted by the U.S. Coast Guard, California Department of Fish and Wildlife's Office of Spill Prevention and Response and other partner agencies. The 87-foot vessel reportedly began taking on water September 4, 2016, and sank near Bethel Island, Calif. Several scenarios are being developed to safely remove the pollution threatā¦
IMOIIMAX Tanker Stena Immortal Delivered
The Stena Immortal was delivered yesterday from the Chinese shipyard GSI (Guangzhou Shipbuilding International) in southeast China. The vessel is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR) and is the eighth of a total of 13 IMOIIMAX tankers ordered by Stena Bulk in 2012. She will be operated by Stena Weco and will sail in the companyās global logistics system, which currently employs about 60 vessels.
PureSOx Installed on Canadian Cement Carrier
As well as being the established choice of scrubber for Emission Control Areas (ECAs), Alfa Laval PureSOx is proving its capabilities on the Great Lakes. The system will soon be installed on a cement carrier that will operate in the region as part of the NovaAlgoma fleet. NovaAlgoma Cement Carriers Limited has recently expanded its fleet with the M/v Nacc Quebec. This ecologically efficient self-dischargingā¦
Prosafe Crew to Train Using a New Lifeboat Simulator
Virtual Marine Technology said it has delivered a second lifeboat simulator system to Prosafe. The simulator was custom built for training lifeboat coxswains onboard the Safe Zephyrus, one of Prosafeās newest accommodation rigs. The Safe Zephyrus was constructed at Jurong Shipyard Pte Ltd in Singapore. The vessel complies with Norwegian regulations and is capable of operating in the harshest environments and with the highest standards of safety.
ASRY Reaches 100 Rig Milestone
ASRY, a ship and rig repair yard in the Arabian Gulf, has welcomed its 100th rig repair job to the yard, as 2016 posts the highest number of rig repair contracts in the yards history. The project is on the high specification jack-up rig āBob Palmerā, one of the largest jack-up rigs in the world, owned and operated by Rowan Companies, which is one of the worldās leading providers of offshore contract drilling services, and long-term client of ASRYās.
Wallenius Wilhelmsen Logistics: No Change in Long Term Ownership Structure
* The Norwegian Wilhelmsen family sees no change in the planned ownership structure in Wilh. * The current plan is that Wilh. * "I don't think their plan is to sellā¦
nv Charts Updates Florida, Bahamas, Caribbean Charts
nv charts has announced the release of their newly updated chart sets for Florida, the Bahamas and the Caribbean for 2016/17 in paper and digital format. In addition to being updated, the new NV.Atlas format brings a modern, handy design to the charts thatās practical and easy to use. The chart set includes a download of digital charts, including free navigation software, plus the free nv charts Mobile App for iOS and Android mobile devices.
First Gas-Up Operation at Jebel Ali LNG Import Terminal
Excelerate Energy L.P., in collaboration with Dubai Supply Authority (DUSUP), has completed the first commercial gas-up operation at DUSUP's Jebel Ali LNG Import Terminal via Excelerate's floating storage and regasification unit (FSRU) Explorer on August 31, 2016. The FSRU gassed-up all five tanks of a 173,000 m3 LNG Carrier, in a 17-hour period. DUSUP's ability to utilize the FSRU for these operationsā¦
Great Lakes-Seaway Shipping Rebounds in August
Great Lakes-St. Lawrence Seaway shipping rebounded in August due to a surge in U.S. grain exports, iron ore shipment improvements and a steady flow of raw materials for manufacturing and construction. āWeāve seen a real rally in August. St. Lawrence Seaway cargo shipments were up 8 percent compared to the same month last year,ā said Stephen Brooks, President of the Chamber of Marine Commerce. āU.S. grain exports now match last seasonās strong performance.
RH Marine Launches Rhodium Product Line
System integrator and innovator of electrical and automation systems RH Marine has officially launched its own product family brand at the international maritime trade fair SMM in Hamburg last week. RH Marine said product innovation is one of its main focusses. During the years this has resulted in multiple quality brands such as UniMacs integrated bridge and FT NavVision. To provide a clear overview of the RH Marine product portfolioā¦
BMT, Maersk Partner for Online Vessel Inspection
BMT Group subsidiary BMT Surveys has partnered with Maersk to develop an online Marine Application for survey, Trend Evaluation and reporting (MATE) platform, which provides real-time data on the condition of vessels and changes in that condition over time. As part of Maerskās inspection program, BMT carries out more than 100 vessel inspections a year providing a vessel scoring system on areas including: cargo careā¦
This Day In Naval History: September 15
1942 - USS Wasp (CV 7) is torpedoed by a Japanese submarine while operating in the Southwestern Pacific in support of forces on Guadalcanal. USS O'Brien (DD 415) and USS North Carolina (BB 55) are also struck by torpedoes from the same submarine. 1943 - USS Saufley (DD 465) and a Catalina Patrol Bomber piloted by Lt. W. J. Geritz from Patrol Squadron Twenty Three (VP 23) sinks the Japanese submarine RO-101 100 miles southeast of San Cristobal, Solomons.
Wilh. Wilhelmsen sees extended Weak RO/RO Market
Car and truck shipper Wilh. * Due to weak and rapid change in the market WWASA has decided to merge its companies with Wallenius, announced on September 5.
Asia Dry Bulk-Capesize Rates Steady
Holidays in Asia likely to dampen chartering activity; Outlook still "slightly positive" for fourth quarter. Freight rates for large capesize dry cargo ships onā¦
Rickmers Maritime to Restructure Debt
Singapore-listed Rickmers Maritime, which owns and operates containerships, said on Thursday it was seeking noteholders' support to restructure debt worth S$100ā¦
Statoil to Supply Small-scale LNG to Baltics
Norway's Statoil will supply small-scale liquefied natural gas (LNG) to terminals in the Baltic Sea through Lithuania's Klaipeda LNG terminal, a company official said on Thursday.
