Baltic Index Rises for Eighth Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the eighth straight day to its highest level since early May. The overall index - which factors in rates for capesize, panamax, supramax and handysize shipping vessels - was up 12 points, or 1.16 percent, at 1,050 points. The capesize index gained 43 points, or 2.59 percent, at 1,702 points.
Ulstein: A Century of Innovation
Ulstein, now a century old, has spent the last 100 years looking to the future. Since its formation on August 9, 1917 in Ulsteinvik, Norway, the family-owned shipbuilder, designer and systems supplier said it has focused on tomorrow’s opportunities today. Over the years, Ulstein has evolved through innovation and pioneered trailblazing solutions, driven by its desire to meet shifting customer demands, commercial openings and market challenges head-on.
Hong Kong Continues Cleanup Following Palm Oil Spill
Hong Kong stepped up efforts on Wednesday to clean up a massive palm oil spill, with authorities scooping up more than 90 tonnes of foul-smelling, styrofoam-like…
SBM Offshore Raises Outlook Buoyed by Deepwater Spending
SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Wednesday citing clients slowly spending more on deepsea projects. "Deepwater is becoming attractive again. It's on a par from an economic standpoint with shale oil," said Chief Executive Bruno Chabas, in reference to a recovery in spending which fell after a sharp drop in oil prices in 2014.
Candito Takes over as Ecochlor CEO
Ballast water treatment systems manufacturer Ecochlor, Inc. has named Steve Candito as its new CEO, effective August 8, 2017. Candito succeeds retiring CEO, Charlie Miller, who will assist during the transition. Tom Perlich, Ecochlor Founder and President, said, “Charlie has been instrumental in Ecochlor’s growth over the last 15 years. During his tenure, we have put together a skilled and experienced team, and find ourselves positioned as a global front-runner in the BWT industry.
Cheniere to Completion 4th LNG Unit Soon
Houston-based energy company Cheniere Energy said that it is nearing completion of its fourth liquefied natural gas unit at its massive Sabine Pass terminal in Louisiana near the Texas border.
Yangzijiang Shipbuilding Q2 Profit Surges 73%
China’s Yangzijiang Shipbuilding Holdings reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels, Reuters reported.
NASA, Norway to Develop Arctic Laser-Ranging Station
NASA and the Norwegian Mapping Authority are partnering to develop a state-of-the-art satellite laser ranging station 650 miles from the North Pole that will produce…
SAAM Posts Profit Growth in 1H
Chilean provider of port, logistics and towage services SAAM ended the first half of 2017 with a net income of USD 43 million, showing a rise of 48.3 percent year-on-year basis.
14 South Korean Ship Owners Form Alliance
A group of 14 South Korean shippers are joining forces to form the first domestic alliance, aiming to restore the country’s shipping sector, reported Yonhap. Under…
Hanjin Shipping: No Cash to Pay Creditors
Hanjin Shipping Co., the South Korean shipping company that caused havoc when it filed for bankruptcy, is struggling to raise enough money to repay $10.5 billion in creditor claims, WSJ reported.
ICTSI Net Income Rises 19%
Manila-based global container terminal operator International Container Terminal Services, Inc. (ICTSI) reported unaudited consolidated financial results for the…
India Unveils Road Map for Cruise Operations
The Shipping and Road Transport and Highways Minister Nitin Gadkari has said that the Indian government is committed to creating the right environment for promoting cruise tourism in the country.
Cummins, Zonar Partner on Fleet Diagnostics
Cummins Connected Diagnostics is now available to customers using Zonar's smart fleet management solution, delivering information to operations managers that can…
DSC Delivers Its First Tier 4 Final Dredge
In February 2017, DSC Dredge, based in Reserve, La., delivered its first-ever dredge equipped with a Tier 4 Final C32 ACERT Caterpillar engine to a minerals company located in the U.S. The Shark Class Dredge features an 18-inch hull-mounted dredge pump and 300 hp cutter drive assembly, and has a dredging depth capability of 56 feet. DSC supplied stainless steel hydraulic fittings and used anti-corrosion building practices, as the dredge will be working in a corrosive environment.
Panama Canal’s New Tolls Structure Approved
Modifications to the Panama Canal tolls structure have been approved by the Cabinet Council of the Republic of Panama. After a thorough analysis of the current utilization and productivity of the Neopanamax Locks, and after meetings with Panama Canal executives, customers and industry representatives in Europe, Asia and North America, the proposed tolls modifications were officially announced on June 1, 2017.
Forland Inspector Time Chartered
Forland Subsea AS said it has entered a time charter contract for the multipurpose offshore vessel Forland Inspector. The vessel, formerly known as Lewek Inspector, will be used for subsea operations, including remotely operated vehicle (ROV) support and crane work. The charter has commenced, and is for nine months firm plus three months options.
Teekay Orders Shuttle Tanker Newbuilds
On July 27, 2017, Teekay Offshore (TOO) CEO Ingvild Sæther announced the contract signing for two Suezmax-size, DP2 shuttle tanker newbuildings, with options to order up to two additional vessels. The vessels are scheduled to be delivered in 2019 and 2020 and provide shuttle tanker services in the North Sea in support of Statoil. The newbuilds will be constructed based on TOO’s new Shuttle Spirit design which incorporates technologies to increase fuel efficiency and reduce emissions…
G E Shipping to Buy Secondhand LR2 Tanker
The Great Eastern Shipping Company Limited (G E Shipping) said it has signed a contract to buy a secondhand Long Range 2 (LR2) product carrier of about 105,000 dwt.
BOS Rolls Out New Engine Performance Software
Blue Ocean Solutions (BOS) has introduced new Engine Performance Software designed to provide ship operators with a holistic insight into the operating condition and efficiency of the ship’s engine.
