FLNG Production Bows out as US Exports Roil Market
Once considered the future of gas production, floating liquefied natural gas (FLNG) projects have been firmly relegated to the backburner as global gas producers seek cheaper ways to compete with a surge in U.S. shale supplies and slumping prices. FLNG projects - mega tankers fitted with gas extraction and liquefaction facilities - allow producers to tap offshore gas wells and ship LNG without having to build costly pipelines to onshore plants.
Meyer Werft Floats Out Norwegian Joy
Norwegian Cruise Line’s first cruise ship custom designed for China has been floated out of Meyer Werft’s covered building dock II on March 4 in Papenburg, Germany, where the 168,800-gross-ton ship has been under construction since September 2015. Beginning early Saturday morning, the 3,850 passenger vessel, Norwegian Joy, departed building dock II. Now well on its way to completion, the 324-meter…
Submerged Tug Lifted on the Mississippi
The stricken towing vessel Sonny J has been raised and dewatered Sunday after it was partially submerged on the Lower Mississippi River near Vidalia, La. On February 26 local U.S.
Korean Register Opens ICT Center
Korean Register (KR) has opened a new ICT (information communications technology) Center to enhance the application of advanced information and ICT across the maritime…
Offshore Vessel Contractors Re-shaping for a Rebound
The announcement on the February 28 of EMAS Chiyoda’s bankruptcy is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015. Multiple companies such as Cal Dive, Ceona, Cecon, Hercules Offshore, Harkand and Swiber have entered into administration, taking a significant number of vessels out of the active fleet. In other cases, internal restructuring measures (e.g. Siem Offshore, Boa Offshore, Deepocean etc.) were/have been in order.
PetroChina Dalian Refinery Exports First Australian-spec Diesel Cargo
PetroChina's Dalian oil refinery exported on Feb. 27 a 40,000 tonne cargo of diesel fuel with that met Australian fuel quality specifications, the first shipment of its kind from China…
Vard Bags Norwegian Coast Guard Maintenance Deal
Vard Holdings Limited said it has secured a framework agreement for the maintenance of five Coast Guard vessels for the Norwegian Defense Logistics Organization. The framework agreement, assigned to Vard Langsten in Norway, includes ship maintenance and corrective maintenance of the Norwegian Coast Guard’s Nornen series of five vessels. The total contract value is approximately NOK 48 million (approximately $5.7 million) over a period of four years, with options for three more years.
China's Steel, Coal Curbs a Double-edged Sword for Imports
China's determination to tackle its choking pollution by cutting steel and coal capacity should be a long-term negative for exporters of iron ore and coal to the world's biggest commodity importer, but the reality is likely to be far more nuanced. "We will make our skies blue again," Premier Li Keqiang told the opening of parliament on Sunday. That's an unequivocal statement that gives political impetus to Beijing's plans to shutter more excess steel and coal capacity.
Norsafe to Equip Australia's New Polar Research Ship
Norsafe said it has signed a contract with Damen Schelde Naval Shipbuilding BV to supply IMO Polar Code compliant Life Saving Appliances (LSA) to an arctic supply and research vessel for the Australian Antarctic Division. Norsafe will supply two JYN-85 conventional lifeboats with LH-140 davits and two JYN-115 lifeboats with LH-185 davits to the vessel. This is the second order Norsafe has received…
Baltic Index Ends at 8-Week High on Stronger Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at it highest in more than eight weeks on Monday as rates across all vessel segments rose. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 40 points, or 4.26 percent, to close at 979 points. The capesize index gained 118 points, or 9.62 percent, to finish at 1,345 points.
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Shigemi Named Executive VP at ClassNK
Dr. Toshiyuki Shigemi has been appointed as Executive Vice President as well as Executive Director of ClassNK, effective March 7, 2016. Yasushi Nakamura has stepped down as Senior Executive Vice President, and has been appointed as an Advisor to the Society. Dr. Shigemi joined ClassNK in 1981. After a career including roles in plan approval, ClassNK’s research institute, and on-site surveys, he took up the position of General Manager of the Development Department in 2008…
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