Crude Oil Markets Bullish, But Not Really: Russell
Sentiment is often a somewhat flighty and nebulous concept, but it appears that crude oil markets are turning increasingly bullish about the prospect for higher prices.
EVAC to be Acquired by Bridgepoint
Evac is to be acquired by private equity group Bridgepoint. Headquartered in Espoo, Finland, Evac was established in 1979 and to date has successfully completed over 20,000 marine, 2,000 offshore, and 2,000 building projects for customers around the world. The company has offices in Brazil, China, Finland, France, Germany, South Korea, Norway, Sweden, and the USA, as well as representatives in more than 40 countries. Since 2014 Evac has been owned by the IK VII Fund.
ERMA FIRST Partners with Bactest
ERMA FIRST, leading Ballast Water Treatment System manufacturer and award-winning Bactest, producers of the only fully integrated ballast water testing solution have announced their partnership.
15,000-TEU Container Ship Will be Delivered to Hapag-Lloyd
Another large container ship will be added to the fleet of the liner shipping company Hapag-Lloyd. The “Al Jmeliyah” will be handed over to Hapag-Lloyd tomorrow…
MPA, ReCAAP Join in Combating Piracy
The Ministry of Foreign Affairs of Japan (MOFA Japan) and the Maritime and Port Authority of Singapore (MPA), in cooperation with the ReCAAP Information Sharing Centre (ReCAAP ISC)…
CSSC to Restructure
The primary contractor for China's naval force China State Shipbuilding Corp (CSSC) is preparing a major asset reorganization involving its two subsidiaries, reported China Daily.
USS Key West Participates in Tri-Lateral Submarine Exercise
The Los Angeles-class attack submarine USS Key West (SSN 722) participated in the Japan Maritime Self-Defense Force (JMSDF) Tri-Lateral Submarine Competition (SUBCOMP)…
LNG Carrier CESI Tianjin Delivered for SINOPEC LNG Project
Mitsui O.S.K. Lines (MOL) announced that the LNG carrier CESI Tianjin, which was ordered by the joint venture of MOL, China COSCO Shipping Corporation Limited (China…
Oil Exports Reach Record Levels in H1 2017
Crude oil exports in the first half of 2017 increased by more than 300,000 barrels per day (b/d) from the first half of 2016, a 57% increase. Petroleum product exports…
NORDEN to Ship Road Salt from Chile to US
NORDEN has entered into a 10-year contract effective 2020-2029 for the transportation of 4-5 million metric tons of road salt to be loaded in Caleta Patillos 1,400 kilometers north of the Chilean capital Santiago and discharged primarily on the American East Coast in ports between Boston and Baltimore. Road salt – or rock salt – will be carried on Supramax vessels. The contract covers 8-10 voyages per year of 50,000 metric tons each.
Torqeedo Acquired by DEUTZ
Independent engine manufacturer DEUTZ announced it has acquired Torqeedo, provider of electric drive systems for watercraft. As an independent subsidiary of DEUTZ AG…
US Fuel Exports Recover after Harvey
Fuel exports from the U.S. Gulf Coast are rising rapidly as refineries recover from weeks of disruptions due to Hurricane Harvey, offering respite to buyers in Latin America and Europe.
Ivy Marine Obtains Sub M TSMS Certificate
Ivy Marine, LLC, a two-towboat company out of Mobile, AL has become one of the first companies in the United States to obtain their TSMS Certificate. They are also the smallest company in the country to have obtained this certification. “Ivy Marine partnered with Tug & Barge Solutions to develop a Towing Safety Management System (TSMS) that meets Subchapter M and the AWO RCP standard,” said Steve Wilson, Ivy Marine’s President.
2,000th Neopanamax Transits Expanded Panama Canal
Yesterday, the Panama Canal welcomed its 2,000th Neopanamax vessel through the waterway, demonstrating the route’s continued impact on maritime trade and the industry’s confidence in the safe, reliable and efficient service the Canal provides. The COSCO Yantian containership completed the milestone transit through the Expanded Canal traveling northbound from the Pacific to the Atlantic Ocean. The vessel measures 351 meters in length and 43 meters in beam…
RJE to Build GE Gas Turbine Modules for Australian Navy Frigates
GE’s Marine Solutions signed a Memorandum of Understanding (MOU) with RJE Global, Morphettville, South Australia, whereby RJE will assemble GE LM2500 gas turbine modules and manufacture a number of components for this engine in support of the Royal Australian Navy’s new SEA 5000 frigate program. The MOU was signed by both companies recently at RJE’s facility in Adelaide. The nine-ship SEA 5000 Future Frigate Program will replace the aging Anzac class frigates.
Cammell Laird Shipyard Welcomes Defence Secretary
British shipbuilder, and diverse engineering service provider, Cammell Laird has welcomed Sir Michael Fallon Secretary of State for Defence on a visit to the yard. The company said during the visit it intends to design and build a world leading Type 31 Frigate that will meet the Royal Navy’s specification and budget and will market the platform globally and capitalize on major export opportunities to Britain’s international allies around the world.
Fincantieri to Take Control of STX France
Italian shipbuilder Fincantieri will take effective control of STX France under shared ownership, an Italian government source said on Wednesday, ending a dispute that has soured bilateral relations.
DNV GL Creates Digital Solutions Organization
DNV GL announced it is creating a specialized Digital Solutions organization that will set out to capture the opportunities that lie in data sharing, advanced analytics, automation, and machine learning as well as addressing challenges related to data quality and security. Elisabeth Heggelund Tørstad will leave her post as CEO for DNV GL’s Oil & Gas business to head the new Digital Solutions business, which will consist of 1,000 digital experts.
Hovem Named CEO of DNV GL Oil & Gas
Liv Hovem will step in as CEO of DNV GL’s Oil & Gas business area from January 1, 2018. She will be based at the DNV GL – Oil & Gas headquarters in Høvik, Norway as a member of the DNV GL Group's Executive Committee reporting to Group President and CEO Remi Eriksen. Hovem succeeds Elisabeth Tørstad, who has been appointed CEO of DNV GL’s new Digital Solutions business area. Hovem has been with DNV GL since 1988…
WSS Rolls Out New Cargo Hold Cleaning Equipment
Wilhelmsen Ships Service (WSS) will launch its new line of cargo hold cleaning equipment at maritime exhibition INMEX India. The new high pressure lance and add-on heating system are tailor made for cleaning difficult to reach areas of the hold, enabling crews to get the right cleaning results, irrespective of where stains are located, without scaffolding, ladders and specialist-cleaning crews. Dubbed Anaconda…
