Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies
MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next weekā¦
Asia-N.Europe Box Rates Jump 58 pct
Freight rates for shipping containers from ports in Asia to Northern Europe jumped 58 percent to $1,125 per 20-foot container (TEU) in the week ending Friday, aā¦
Crew Kidnapping Rising in Gulf of Guinea - Dryad
In contrast to the substantial numbers of reported incidents across Southeast Asia and the Indian Ocean in recent years, maritime crime now appears to have stabilisedā¦
Damen PSV for Wilson Sons Ultratug Offshore
Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and the Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000. Theā¦
Gener8 Maritime Net Income Up 91%
Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per shareā¦
VARD Bags Three-vessel Contract
Vard Holdings Limited (āVARDā), one of the major global designers and shipbuilders of offshore and specialized vessels secured a contract for the design and constructionā¦
LNG Market Needs More Vessels than Currently on Order
Despite the current weakness in LNG shipping rates, Drewry maintains its bullish long-term outlook for LNG shipping and believes that the market will require moreā¦
CMA CGM Rolls out Bengal Bay Express
CMA CGM has introduced its new Bengal Bay Express service, operated with 11 vessels of 6,500 TEU on a weekly basis, in a continuous effort to provide its customers with the best quality service.
Dynagas 2Q Results Upbeat
The financial results of Greece-based Dynagas LNG Partners LP (DLNG) for Q2 beat Wall Street expectations. The average estimate of three analysts surveyed by Zacksā¦
Safe Bulkers Reports Q2 Loss, Expands Fleet
The Athens, Greece-based Safe Bulkers Inc. (SB) has reported a loss of $9 million in its second quarter. It had a loss of 15 cents per share. Net revenue for Q2ā¦
Maersk Training Bullsh on India
Maersk Training, part of the Denmark based A.P. Moller-Maersk, is betting on the Indian training centre, reports the Hindu. India is one of the 10 Centreās that is making profits.
GasLog Reports Higher Profit in 2Q16
GasLog Partners LP has released its financial results for 2Q16, boasting a profit of US$17.38 million ā 38% higher than in 2Q15. Its demand outlook for LNG carriersā¦
Navios Maritime Posts 2Q Profit
Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million. It says revenue for three month period ended June 30, 2016 increased by $4.3 million to $22.7 million.
Det Norske to Restore Production at Alvheim after Leak
Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak, stopped production earlier on Thursday. There was no discharge into the sea as a result of the incident, it added. "We are in full control and expect to reach full production at some time during the night," a Det norske spokesman told Reuters.
Insights: Kunkel Weighs in on Propulsion Technology
LNG? Methanol as fuel? Hybrid systems? Tier 4? Reducing noise? Cutting emissions without crushing fuel economy? Marine News readers have questions and Bob Kunkel has answers.
A Sea Change in Waterjet Technology
Longtime waterjet propulsion equipment provider NAMJet introduces key advancements for the workboat sector. Back in 2011, when boat builder Birdon went looking forā¦
Friend of the Sea Turns to BMT for Reefer Vessels Certification
BMT Surveys (BMT), a subsidiary of BMT Group, the international maritime design, engineering and risk management consultancy, has been engaged by Friend of the Seaā¦
ATB Design Comes of Age
The emerging trend of marrying the design of an articulated tug and barge (ATB) to a particular propulsion system to maximize efficiencies of that system has, of late, been taking hold in workboat markets. For example, one recent project involving a dynamic partnership between Bouchard Transportation Co., Inc, Guarino & Cox, LLC (GCL) naval architects, Nautican Research & Development Ltd., integrated propulsion unit manufacturersā¦
The āPaperlessā Ship
The cloud is for ādevice-agnostic young slashers,ā said Trond Bjorseth, marketing manager, of Oslo-based cloud consultancy, Tieto. His company offers an information management tool for subsea projects and ārepositoriesā for the shipping sectorās operations. With Tieto you can get āone big happy project room,ā although he admits at least three suppliers offer something similar. For its own future āslashersā¦
Safety and Preparation on the Brownwater Radar
Weather Channel Forecasters are predicting a ānear-averageā hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldnāt prepare for the worst. While it is unclear whether the season, which began June 1, will bring about a few mild storms or a catastrophic Category 5 hurricane, one thing is for sure: safety and preparation are on the radars of the owners and operators of brownwater vessels.
