The Rationale for Shipping M&A
The most often quoted reason for consolidation is the reduction in unit costs which can be obtained by an operator with a larger volume of business. The ways in…
Pioneer Scratches Orders for Five Newbuildings
Singapore-based bulker player Pioneer Marine has terminated five handysize newbuild contracts at Yangzhou Guoyu Shipyard. The leading shipowner and global drybulk…
Ship Industry to Benefit from AkzoNobel's Revolutionary Antifouling
Ship owners and operators can now benefit from improvements in operational, cost and environmental efficiencies thanks to the latest antifouling developed by AkzoNobel…
This Day In Naval History: March 23
1815 - The sloop-of-war USS Hornet captures the brig sloop HMS Penguin after a 22 minute battle, with neither ship aware the War of 1812 is over. 1882 - Secretary of the Navy William H. Hunt (Jan. 7, 1881 to April 16, 1882), creates the Office of Naval Intelligence (ONI) with General Order No. 292. 1917 - USS New Mexico (BB 40) is launched. She is the first dreadnought with turboelectric drive. 1944 - USS Tunny (SS 282) sinks the Japanese submarine I 42 off the Palau Islands.
US Polar Icebreaker Visits San Diego
The U.S. Coast Guard’s polar icebreaker Cutter Polar Star has made a brief stop in a warmer climate, mooring in San Diego before returning to Seattle after a four and a half month-long deployment to the Antarctic in support of Operation Deep Freeze 2016. The Polar Star, a 399-foot cutter commissioned in 1976, is the nation’s only operational heavy icebreaker, and the most powerful non-nuclear icebreaker in the world.
Iraq Oil Exports Hold Steady in March
Iraq's oil exports have held steady so far in March, according to loading data and industry sources, halting for now the rapid supply growth that has increased downward pressure on prices.
Crowley Testing Cat’s Monitoring, Diagnostics Tools
Calling it “the next logical step in marine technology,” Crowley Maritime Corporation is installing Cat Asset Intelligence software on one of its vessels. The tugboat Guide, a ship-assist vessel operating out of Seattle, is being fitted with a custom vessel monitoring and diagnostics solution, which will keep watch over its main engines, generators, thrusters and critical systems 24/7. While completely…
Missing Tugboat Found after 95 Years
The USS Conestoga (AT 54) mysteriously vanished without a distress call nearly 100 years ago, with 56 officers and sailors on board. The nation was gripped by the puzzling disappearance. Now, NOAA and the U.S. Navy announced the Navy seagoing fleet tugboat has been found in the Greater Farallones National Marine Sanctuary off San Francisco, 95 years after its disappearance. Conestoga left San Francisco on March 25…
DGS Marine Announces Fixed Premium P&I Growth
DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, announced growth figures following the completion of P&I renewals, with premium growth of 6 percent, tonnage growth of 12 percent and total vessel numbers up by 17 percent. These results mark significant further growth in DGS Marine’s fixed premium P&I business, which has reached a record high.
Roxtec Launches Inspection and Maintenance Team
Yet another company has set sails under the Roxtec flag. Roxtec Services AB offers inspections, maintenance work and installation trainings within the crucial area of cable and pipe transits. “We inspect and maintain sealing solutions on marine vessels and offshore units to make sure they keep up performance and meet the safety requirements from the classification societies,” said Roger Johansson, Executive Vice President Business Area Marine & Offshore at Roxtec.
Seaway Opens 58th Navigation Season Ice Free
The St. Lawrence Seaway Management Corporation (SLSMC) marked the opening of the Seaway’s 58th navigation season, with the transit of Canada Steamship Lines’ Thunder Bay through Lock 3 on the Welland Canal. The ship, carrying a load of road salt, will be replenishing stocks depleted by ice storms which repeatedly struck Eastern Canada over the winter. “We certainly welcome the warmer weather. A return…
Baltic Sea Freight Index Rises on Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday, supported by firmer rates across vessel segments.
Port of Fujairah Receives First of Three New Tugs
In March 2015, Sanmar signed a contract with the Port of Fujairah for the construction of three 70 metric ton bollard pull RAmparts 2400SX tugs. The ceremony took place in Fujairah in the presence of His Highness Sheikh Saleh Bin Mohammed Al Sharqi, Chairman, Department of Industry and Economy, Government of Fujairah. The first vessel M/T Jabal Yabsa, which is the 16th vessel of its well proven class, has now made her way to Fujairah and begun operations.
Maersk Deploys Weathernews Services
Weathernews Inc., a privately owned weather company, will provide weather routing services, port forecasts and other weather driven risk communication services to Maersk Line and Maersk Tankers, for safety and bunker saving purposes. Operating from five global operations centers, Weathernews Inc. will provide continuous monitoring and communication year-round twenty-four hours a day for Maersk vessels with its Optimum Ship Routing service.
ABB to Service World's Largest Floating Facility
ABB announced it has has won a five-year contract to deliver equipment and services for Shell's Prelude FLNG, the world's first floating liquefied natural gas (FLNG) facility, the largest floating facility ever built. ABB's equipment will minimize downtime and optimize the efficiency of the facility. The order includes the delivery of motors, generators, variable speed drives and low-voltage switchgear…
Marsol Awarded Middle Eastern Contracts
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has been awarded two contracts in Oman. The first contract involves a Single Point Mooring (SPM) change out, including the removal of the existing aging structures followed by installation of new buoys. The second contract involves providing and managing all marine and offshore activities related to tanker loadings via an SPM offshore marine terminal…
Robust Commodity Imports Don't Tell the Whole China Story
The improved sentiment surrounding the outlook for China's demand for natural resources is being reflected by rising imports for some major commodities, but as usual…
Indonesia Says It Has No Conflict with China in South China Sea
Indonesia has no conflict with China over the South China Sea, an Indonesian palace spokesman said on Wednesday, days after eight Chinese crew members were detained…
Hapag-Lloyd Sees Better Market, Lower Costs Boosting 2016 EBIT
German container shipping group Hapag Lloyd said it expected a clear increase in operating profit this year thanks to a market recovery, cost cuts and synergies from its merger with Chilean shipper CSAV. Its earnings before interest and tax (EBIT) had swung to a 366 million euro profit in 2015, from a year-earlier loss of 383 million. It swung to a net profit of 114 million euros from a 2014 loss of 604 million, Hapag-Lloyd said on Wednesday.
Grounded Bulker Suffered Major Hull Damage
A damage assessment revealed significant damage to the motor vessel Sparna, which ran aground Monday in the main shipping channel of the Columbia River near Cathlamet, Wash. The damage assessment showed multiple fractures were found, the largest being a 25-foot by 5-foot wide fracture with a visible boulder lodged inside. Damage to the Sparna was contained to two flooded compartments. The assessment was submitted to the U.S.
