Baltic Index Gains on Stronger Rates for Panamax, Smaller Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for second consecutive session on Friday supported by stronger rates for panamax and smaller vessels. The overall index, which considers rates for capesize, panamax, supramax and handysize shipping vessels, rose 15 points, or 1.75 percent, to 870 points. The capesize index was marginally down 6 points, or 0.6 percent, at 987 points.
Two New Tugs for Rimorchiatori Riuniti
Italian tug operator Rimorchiatori Riuniti has continued its fleet expansion with the deliveries of two new Damen tugs; an ASD 2913 called Danimarca and an ASD 2411 called Columbia. The delivery of the Danimarca took place in Genoa on June 14, 2017. This new tug will join the ASD 2913 Germania that joined the company’s fleet at the beginning of the year. Like her sister vessel, the Danimarca has also been installed with FiFi 1 and an aft winch…
Transas CEO Coles Speaks on the Future for Seafarers
A message from Frank Coles, CEO of Transas on the International Day of the Seafarer. On this day of recognition, I would like to celebrate the women and men who commit their careers and their lives to being at sea for extended periods of time. The future facing the maritime industry today is a very different one from when I first went to sea in 1977. Back then the sextant was King. Today the people…
Cindy's Remnants Drench Gulf Coast, Wreaking Havok
The remnants of Tropical Storm Cindy brought tornadoes and flooding to the U.S. Gulf Coast on Thursday and its heavy rains will drench much of the eastern United States in coming days…
KOGAS to Receive first Cheniere LNG Cargo
KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS) will early next month receive its first…
Asia Tankers-VLCC Rates Supported by Floating Storage
Trafigura hires five VLCCs to store oil; short-term storage a profitable play. Freight rates for very large crude carriers (VLCCs) could creep higher as more ships…
Diana Shipping in Time Charter Contract for Clio with Phaethon
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG…
India's LNG Market to Reach USD 30.7bln by 2025
India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR of 5.06% between 2016 and 2025. According to a report by Research and Markets…
Global Ports Sector Faces Structurally Slower Growth, Says Fitch
Traffic growth in the ports sector is likely to remain well below historical levels for the foreseeable future, due to fundamental structural changes in the industry and global trade…
IMO Project Seeks Maritime Technology Participants
The GMN maritime technology project, run by International Maritime Organization (IMO) and funded by the European Union, has issued a call for expressions of interest…
Madrid Maersk Call at Antwerp Port Sets New Record
The Madrid Maersk, the largest container carrier ever to call at the port of Antwerp, moored in the Deurganck dock on 9 June. This record-breaking ship with a capacity of 20…
Shipping Industry Submits Ambitious CO2 Reduction
Four major international trade associations – BIMCO, INTERCARGO, International Chamber of Shipping (ICS) and INTERTANKO – have made a joint proposal to the IMO concerning…
Vane Brothers’ New Tug Christened
The newest Vane Brothers tugboat, the New York, was christened during a brief ceremony June 12 at St. The New York is the sixth of eight 4,200-horsepower, model-bow tugs contracted through St. Johns by Vane Brothers. Headquartered in Baltimore, Vane Brothers also conducts operations from a facility in Brooklyn and other locations along the U.S. East Coast. More than 50 Vane Brothers tugboats are primarily tasked with towing petroleum barges engaged in the North Atlantic coastwise trade.
Aircraft Carrier John F. Kennedy Half Complete
U.S. shipbuilder Huntington Ingalls Industries (HII) said the structure of nuclear-powered aircraft carrier John F. Kennedy (CVN 79) is now 50 percent complete. The second Gerald R. Ford-class aircraft carrier CVN 79 grew about 70 feet in length with the addition of the lower stern, which was recently lifted into place at HII’s Newport News Shipbuilding division. Like Ford, which was delivered to the Navy earlier this month…
SHIPS Act: 355 Ship Navy Gets Legislative Mandate
The push to rebuild the U.S. Navy received a boost today when U.S. Senator Roger Wicker, R-Miss., and Congressman Rob Wittman, R-Va., introduced bicameral, bipartisan legislation that would make it the policy of the United States to achieve the Navy’s requirement of 355 ships. Under the “Securing the Homeland by Increasing our Power on the Seas (SHIPS) Act,” the fleet would be comprised of the optimal mix of platforms, with funding levels subject to annual appropriations.
Faststream Opens New Global Headquarters
Faststream Recruitment founder and CEO Mark Charman launched the group’s new global headquarters in Southampton alongside Guy Patten, CEO of the U.K. Chamber of Shipping, at an official unveiling event on June 21. Faststream was established in Southampton in 1999, having gone on to launch further international offices in North America and Asia, with its Southampton office remaining as its global headquarters and housing more than 70 of its 100 worldwide staff.
North River Boats: Delivering Flexibility & Customized Output
Diversification is the key at Oregon-based North River Boats. Listening closely to the customer’s needs recently won the day on a multi-hull U.S. Navy contract,…
Schwarze-Robitec Expands in USA
The tube bending machine manufacturer Schwarze-Robitec is expanding its branch office in the USA. The North American service and distribution team moves to Grand Rapids. Mich. In addition to its new premises, Schwarze-Robitec operates a spare parts warehouse for its high-quality bending machines. Customers in the U.S., Canada and Mexico benefit now from faster delivery times as well as first-class services.
Navico Acquires Naviop
Marine electronics manufacturer Navico, parent company to the Lowrance, Simrad and B&G brands, announced it has finalized an agreement to acquire marine monitoring and control systems provider Naviop.
Corvus Secures $4.9 Mln Credit Facility
Export Development Canada (EDC) has announced the closing of a CAD$6.5 million (US$4.9 million) contract financing credit facility for Corvus Energy Inc., a Richmond…
