EU Project Aims to Improve Arctic Shipping Safety
A three-year, €6.5 million ($7.7 million) research project has been launched to address safety and efficiency in Arctic ship operations. Funded by the EU’s Horizon 2020 program, SEDNA sets out to develop a risk-based approach to Arctic navigation, ship design and maritime operations. Recent years have seen a rapid increase in shipping operations in Arctic regions, as ice cover has reduced due to global warming.
Two Patrol Vessels Launched for Indian Navy
Two Naval Offshore Patrol Vessels (NOPVs) for the Indian Navy were launched in Reliance Defense shipyard at Pipavav on July 25, 2017. The vessels, named INS Shachi and INS Shruti, are the first two vessels in a five-vessel series which are being built in accordance to built under the Indian Register of Shipping’s (IRClass) ‘Rules and Regulations for Construction and Classification of Naval Ships’. These rules, were jointly developed by the Indian Navy and IRClass.
Suezmax Tanker Delivered to TMS
Chinese shipbuilder Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) said it delivered a 158,000 DWT Suezmax oil tanker Greek operator TMS Tankers on July 18. The vessel…
Great Lakes Limestone Trade Up in July
Shipments of limestone on the Great Lakes totaled 3.9 million tons in July, an increase of 15.4 percent compared to a year ago, the Lake Carriers’ Association (LCA) reported. July’s loadings were also slightly ahead of the month’s five-year average. Loadings from U.S. quarries totaled 3.16 million tons, an increase of 22.3 percent compared to a year ago, while shipments from Canadian quarries totaled 700,000 tons, a decrease of 60,000 tons, LCA said.
Baltic Index Gains On Stronger Rates for Larger Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for the eleventh straight session, supported by higher rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 17 points, or 1.49 percent, at 1,155 points - a peak since April 24. The capesize index rose 80 points, or 3.97 percent, to 2,093 points, the highest since April 19.
Antwerp Port Blocked as Boxship Runs Aground
Traffic to and from Antwerp, Europe's second-biggest port, was halted on Monday after a container ship ran aground on the banks of the river Scheldt which connects the port to the North Sea.
Wison Granted AIP for Its Innovative Floating LNG Storage
Wison Offshore & Marine announced that it has received Approval in Principle (AIP) from Bureau Veritas for its newly-developed large-scale Floating LNG Storage and Regasification Terminal.
Bumi Armada Bags Additional Contract from Lukoil
Bumi Armada Bhd’s wholly-owned unit, Bumi Armada Caspian LLC, has signed a supplementary agreement worth RM576 million (USD 134 million) with Lukoil-Nizhnevolzhskneft…
Adani Ports Net Dips 14% in Q1
India's Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and the logistics arm of $12 billion Adani Group, saw a 13.65% fall in…
Qatargas Delivers First Q-Max Cargo to Thailand
Qatargas delivered the first Q-Max cargo of Liquefied Natural Gas (LNG) under the long-term Sale and Purchase Agreement (SPA) between Qatar Liquefied Gas Company…
Egypt to Cut Down on LNG Imports
Egypt is planning to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that began in July, down from the 118 cargoes imported last year.
DP World Forms JV with Egypt’s Suez Canal
DP World, has formed a joint venture (JV) company with Egypt’s General Authority for the Suez Canal Economic Zone. The new venture will see the global terminal operator…
Buchan Alpha Arrives in Shetland for Decommissioning
The Buchan Alpha oil production vessel has arrived safely in Lerwick, Shetland for disposal. A semi-submersible moored floating production vessel, weighing 12,000 tonnes…
Gulf Navigation Rapid Profit Growth
The Dubai based Gulf Navigation Holding (GulfNav) achieved remarkable growth in 2017 and witnessed many outstanding achievements in line with the steady growth of UAE economy.
Shell Strengthens LNG Bunkering Business
The Hague-based LNG giant Shell has announced two significant milestones for its liquefied natural gas (LNG) marine fuels business in northwest Europe. Shell's ultra…
Hyundai Merchant in the Red in Q2
South Korea's Hyundai Merchant Marine (HMM) suffered an operating deficit of USD 112 million in the second quarter, the company said in a regulatory filing. The…
EC Financial Instrument to Facilitate Ship Recycling
The European Commission released its report on the viability of a financial incentive for sustainable ship recycling under the EU Ship Recycling Regulation this week.
Getting to Grips with Ship Security
On-board practice in assessing maritime security measures on a ship was a key feature of a recent workshop which took place in Montevideo, Uruguay (8-11 August).
First Lady of the Fleet Celebrates
As the activities of Exercise TALISMAN SABRE 17 started to draw to a conclusion in July, the crew of HMAS Darwin, took the chance of a brief time out to celebrate…
Tanker Shipping Rates to Remain Weak: Drewry
Rising long haul exports of crude oil from the US and Nigeria will not be sufficient to push tanker shipping freight rates higher given lower anticipated Middle East output and surging tonnage supply…
