Panama Canal Traffic to Double
The expansion of the Panama Canal will take traffic through the inter-oceanic passage to a new level, which already handles around 6 percent of global trade transportation…
US Oil Drillers Add Rigs for 4th Week in 5
U.S. drillers this week added oil rigs for a fourth week in five, according to a closely followed report Friday, in the best month of producers returning to the…
Vale Sells 3 Valemax Iron Ore Ships to ICBC
Brazil's Vale SA said it has sold three of its giant "Valemax" iron ore ships to a group led by Industrial and Commercial Bank of China, continuing efforts to unload…
Fincantieri Launches Silver Muse
Silver Muse, the new ultra-luxury cruise ship which Fincantieri is building for the ship owner Silversea Cruises, was launched at Fincantieri’s shipyard in Genoa Sestri Ponente. Interior fittings will now begin, leading the vessel to its delivery, scheduled in April 2017. The launching was introduced by the traditional and well-wishing coin ceremony, consisting, according to an ancient shipbuilding custom, in welding a silver commemorative coin on the last deck of the ship.
Op/Ed: Supply Chain Hindered by Cumbersome Regulation
The Federal Maritime Commission (FMC), which has always been a valuable resource in supply chain management, announced the formation of a Supply Chain Innovations Teams that will develop commercial solutions to supply chain challenges and related port congestion concerns, which have been an issue in the industry for quite some time. Although I believe that the FMC has made a great impact on the logistics industry…
Swiftships to Procure Patrol Craft Kits for Egyptian Navy
On June 28, 2016 Louisiana-based Swiftships, LLC, was awarded a $15 million firm-fixed-price (FFP) contract involving Foreign Military Sales (FMS) to procure four 28-meter KITs for the Egyptian Navy (EN). The contract will allow Swiftships to procure KITs so the EN can assemble/coproduce these 28m coastal patrol craft (CPC) in Alexandria, Egypt. The 28m CPCs will include: 4.7-meter rigid inflatable boats…
Ingalls to Build US Warship LH8
Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been selected to build the U.S. Navy’s next large-deck amphibious assault warship, LHA 8. Ingalls has also been selected to perform the majority of the contract design work for the U.S. Navy’s amphibious warfare ship replacement, known as LX(R).The U.S. Department of Defense announced both contracts June 30. The LH8 contract – which includes the planning…
First Alaskan North Slope Cude Export Planned for Nicaragua
Alaskan North Slope (ANS) crude will be shipped to Nicaragua for the first time in July, two trade sources said on Friday, underscoring a shift in oil flows to and from the U.S. West Coast.
India's Iran Oil Imports Surge in June
India's Iran oil imports rose about 39 percent in June year on year, preliminary data obtained by Reuters shows. In the first half of 2016 India's Iran oil imports…
This Day In Naval History: July 1
1801 - Commodore Richard Dale's squadron arrives at Gibraltar for the protection of American interests and to strike at the Barbary Pirates in the Mediterranean. Squadron ships were USS President, USS Philadelphia, USS Essex, and USS Enterprise. 1850 - The Naval School at Annapolis, Md., is renamed the U.S. Naval Academy and adopts a four-year course of study. Also on this date, Commander Cornelius K.
Tallink Christens LNG Ferry Megastar
A new LNG-driven fast ferry Megastar was christened in Meyer Turku shipyard for owner/operator Tallink Grupp. The environmentally sound ship was christened on July 1 by former president of Finland Tarja Halonen. First steel was cut for Megastar on August 4, 2015, and the keel was laid on February 9, 2016. Float-out and sea-trials are planned for July and the last months of 2016, respectively, followed by delivery planned to take place in the beginning of 2017.
Lerwick Welcomes its Largest Ever Cruise Vessel
June 30 was a big day for GAC UK’s Shetlands office, as Offshore Manager Adrian Henry welcomed the P&O Cruises ship Azura to the port of Lerwick, the islands’ capital and home to GAC’s local office. The 115,055t Azura is the largest ever cruise vessel to have called at the port, and Henry and his team were responsible for ensuring every second of her time there went without a hitch for her 3,033 passengers and 1,159 crew, GAC said.
Icebreaker Launched for Sovcomflot
On June 30, 2016 a new icebreaking supply vessel (IBSV) was launched for Sovcomflot as part of a long-term agreement with Sakhalin Energy. Due to be delivered in the fourth quarter of 2016…
Red Funnel Catamaran Powered by MTU Engines
The latest addition to the British Red Funnel ferry fleet, Red Jet 6, completed first sea trials in June 2016 and will go into service in July. The high-speed catamaran ferry was built in Britain by Shemara Refit on the Isle of Wight with Rolls-Royce supplying four MTU Type 10V 2000 M72 engines and ZF Type 3050D gearboxes. Red Jet 6 is the most modern vessel in the Red Funnel fleet. Powered by four 900 kilowatt Series 2000 MTU engines…
NORDEN’s Dry Cargo Head Bonderup Resigns
Ejner Bonderup, Executive Vice President and member of the Executive Management in Dampskibsselskabet NORDEN A/S, has resigned from his position to take up a position in another shipping company. Bonderup will continue at NORDEN for a limited amount of time during a transitional period. Throughout the period ending on December 31, 2017, Ejner Bonderup will be subject to restrictive covenants, unless released by the company.
Baltic Index Up for Eighth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its rise on Friday, for an eighth consecutive session…
Asia-N.Europe Box Rates up 77 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose 77.4 percent to $1,206 per 20-foot container (TEU) in the week ended on Friday…
Asia Tankers-VLCC Rates Expected to Soften
MidEast rates slip from two-week high on June 28; raft of new ships and repaired vessels weigh on rates. Freight rates for very large crude carriers (VLCCs) will…
Euronav Share Buyback
Euronav NV (NYSE: EURN & Euronext: EURN) (“Euronav” or the “Company”) today announces that the Company has purchased 192,415 of its own shares on Euronext Brussels for an aggregate price of EUR 1…
BIMCO: Containership Scrapping Heats Up
demolition of containerships almost tripled in the first five months of 2016 in comparison to the same period of 2015. This illustrates the efforts carried out by shipowners to counter the fundamental imbalance between supply and demand under poor container shipping market conditions. However, more needs to be done to lift the charter market. The demolition of capacity in the panamax segment (3-5,999 TEUs), since the start of January 2016 till the year to date, has been especially significant.
