Asia Pushes LNG as a Bunker Fuel
An increasing number of ships and vessels are using liquefied natural gas or LNG as a clean fuel to comply with the regulations laid by the International Maritime…
Selling Pmax Time Value To Buy Cape Volatility
With implied volatility in the Capesize sector being historically higher than that of the Panamax, this note observes and highlights their behavioral patterns (via the spread) after an expiry…
Paragon Shipping to Counter Downturn
Paragon Shipping Inc is at cyclical lows, as the entire drybulk shipping sector has suffered and, along with the container and LNG sectors. Michael Bodouroglou, Founder…
Shortages of Bulk Cargo in Vietnamese Ports
Claims for shortage of bulk cargoes have become common in some Vietnamese ports and can lead to the arrest of the vessel by the receivers, says Gard Alert. Two of…
A Tale of Two Trades
Downsizing of capacity on the Asia-ECSA trade has paid dividends to carriers with much improved freight rates; why isn’t the scalpel also being used on other routes?
Maersk Line Mulls India-East Africa Business with Mawingu Express
The Mawingu Express, Maersk Line's direct service from India to Kenya, offers the fastest transit times in the market and better port coverage to bring clients closer to East Africa…
This Day In Naval History: July 11
1798 - President John Adams signs an act that reestablishes the Marine Corps under the Constitution. The following day, Maj. William W. Burrows is appointed Commandant of the Marine Corps. 1918 - Henry Ford launches the first of the 100 intended Eagle boats. These boats have a solid cement bow, especially built for ramming and sinking submarines. Note, production is halted after (PE 60), though some of the boats continue to serve as training and transport vessels until 1947.
MacGregor Hatch Covers Continue Japanese Win Streak
MacGregor, part of Cargotec, has signed a contract for the design and delivery of key components and the fabrication of steel structures for the hatch covers on board five 14…
INTERSCHALT Shuffles Executive Management
INTERSCHALT maritime systems GmbH, a provider of maritime software for cargo operations and fleet management, NavCom services and manufacturer of VDR systems, announced…
Libya Govt in Talks to Reopen Two Major Oil Ports
Libya's U.N.-backed government in Tripoli is in negotiations with an armed brigade controlling two main oil ports to reopen the terminals and lift a force majeure to restart exports…
Suexmax Tanker Delivered to NAT
Nordic American Tankers Limited (NAT) has taken delivery of a Suezmax vessel, the Nordic Pollux, built at a Japanese shipyard. Nordic Pollux is the final of four…
Interest in RBS Greek Shipping Unit Cools after Brexit Vote
Royal Bank of Scotland is facing setbacks over a proposed sale of its Greek ship finance business, with potential suitors backing off, partly because of the British vote to leave the European Union…
Bridges Refit on Two Holland America Line Ships
Two major bridge refit contracts have been completed by Radio Holland USA on Holland America Line’s cruise ships Oosterdam and Prinsendam. The bridge refit on board the M/S Oosterdam was concluded in Palermo, Sicily in early May. Then just days later Radio Holland continued with a bridge upgrade project for the M/S Prinsendam, which took place in Freeport, Grand Bahama. The latest refits follow refit work on M/S Noordam and Westerdam in 2014 and 2015.
Baltic Index Rises on Higher Panamax Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose slightly on Monday on higher rates for panamax vessels.
Bomin Launches Physical Operation in Mauritius
Physical supplier and trader of marine fuel oil the Bomin Group is launching a physical operation in Port Louis, Mauritius, effective from July 12, 2016. Bomin (Mauritius) Ltd.
Petrobras Bringing Two FPSO Platforms Online
Brazil's state-led oil company Petroleo Brasileiro SA is working hard to meet its production targets, the company's head of exploration and production, Solange Guedes, said on Monday in a telephone interview. Guedes said the company's floating, production, storage and offloading ship (FPSO) named Cidade de Saquarema could begin operations in the Lula Central field this month and that she expects that Cidade de Caraguatatuba FPSO in the Lapa field to start operations in August.
Pipelay, Construction Work Completed for Chevron in Nigeria
A pipelay and construction campaign for the Sonam Field Development Project for Chevron Nigeria Ltd. has been successfully completed, announced Sea Trucks Group. The contract for the project was awarded to West African Ventures Ltd, Sea Trucks’ principle Nigerian business in June 2015. The Sonam Field Development Project is located in shelf concession OML 91, Escravos Area, offshore Nigeria, in water depths ranging from 7 meters around Okan to 66 meters at Sonam.
Interest in RBS' Greek Shipping Unit Cools Post-Brexit Vote
The Royal Bank of Scotland is facing setbacks over a proposed sale of its Greek ship finance business, with potential suitors backing off, partly due to the British vote to leave the European Union…
Port Hedland June Iron Ore Exports to China Rise to Record
Record iron ore shipments to China moved through Australia's Port Hedland terminal in June, as major producers BHP Billiton and Fortescue Metals operated close to full capacity and inventories at Chinese ports swelled. Most of the ore both companies mine is sent to China, where higher-grade imports are displacing lower quality domestic ore in Chinese steel mills. Shipments to China from the Indian Ocean port increased to 34.5 million tonnes in June from 31.7 million tonnes in May…
Petronas Selects Intellian for FLNG
A triple installation for the next generation Petronas Floating Liquid Natural Gas (PFLNG) vessel emphasizes increased demand for Intellian’s 2.4m product line in the Offshore Energy and Enterprise market segments. Built at Daewoo Shipbuilding & Marine Engineering in South Korea, PFLNG Satu is a game-changer in the global LNG business. PFLNG technology dramatically improves asset mobility, paving the way for efficiency in monetizing gas resources from remote, marginal and stranded fields.
