Hanssons Increase Stake in Nordic American Offshore
The executive chairman of Nordic American Offshore Ltd. (NAO) and his family have increase their holding in the company, now holding shares equivalent to 5.4 percent of NAO. On Wednesday a company owned by the NAO executive chairman, Herbjorn Hansson, and his son, Alexander, bought 500,000 shares in NAO at an average price of $1.18 per share. They also bought 500,000 NAO shares on Tuesday.
Turkey, Pakistan Sign Warship Deal
Turkey and Pakistan have signed a memorandum of understanding for the sale of four Turkish made corvette warships and 52 Pakistan-made training planes for Ankara's armed forces…
Baltic Index Dips on Weaker Smaller Vessel Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was marginally down on Wednesday as demand for smaller vessels eased. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0.2 percent, at 1,005 points. The supramax index was down four points to 790 points, while the handysize index fell two points to 510 points.
WinGD Opens Virtual Reality Engine Room Facilities
Winterthur Gas & Diesel (WinGD) has inaugurated a new installation of its W-Xpert Full Mission Simulator (FMS) for training complete engine room crews at the Marine Power Academy Training Center of Hudong Heavy Machinery Co. Ltd. (HHM), in Shanghai, China. The simulator joins a network of some 20 further installations at strategic locations around the world. As well as being the first installation of WinGD’s dedicated…
Ferry Design Contest Winners Selected
The Worldwide Ferry Safety Association (WFSA) has announced the winners of its 2017 competition for the design of a safe and affordable ferry, chosen by a panel of judges. The awards will be presented on May 11, at WFSA’s Ferry Safety & Technology Conference. Dr. Roberta Weisbrod, the Executive Director of the WFSA, said, “Urban linear ferries like Bangkok and New York are in growth mode everywhere.
Navios Acquires Capesize Vessel
Navios Maritime Partners, an international owner and operator of dry bulk and container vessels, announced on May 9 that it has agreed to acquire one 2011 South Korean-built Capesize vessel of 179…
India, Indonesia Commence Co-ordinated Patrol
The 29th series of India–Indonesia CORPAT is scheduled from 09 – 25 May 2017 with the opening ceremony being conducted from 09 -12 May 2017 at Port Blair under the…
Nautisk, MarineMTS to Provide ENC Auto-Updates
Global maritime software solutions provider Nautisk has announced that it is working with MarineMTS to provide automatic ENC updates to vessels sailing with ECDIS.
UK Chamber Warns Against Scrapping Le Touquet Treaty
Emmanuel Macron, the newly-elected French President, vowed during his election campaign to renegotiate the Le Touquet agreement which enables British border officials to carry out checks in France.
India Deploys Eastern Fleet Ships Overseas
Indian Naval Ships Shivalik, Sahyadri, Jyoti and Kamorta of the Eastern Fleet manouvering in the Andaman Sea. The task force is on a routine deployment to Malacca Strait…
USS Abraham Lincoln Departs for Sea Trials
Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72) got underway for sea trails, May 9, following a four-year refueling and complex overhaul (RCOH) at Newport News Shipbuilding…
Canada to Roll Out First Propane Export Terminal
Royal Vopak and AltaGas have entered into a joint venture and will invest together in the development of the Ridley Island Propane Export Terminal (RIPET). RIPET…
DNV GL Adds Asymmetric Stern To ECO Lines
A vessel with an asymmetric stern has a twisted aft shape that is designed to account for the differing flow conditions on each side of the propeller. The idea emerged in the 1960s…
Alaskan Jones Act Tanker to Retire
The Alaskan Frontier, a Suezmax tanker typically used to transport Alaskan North Slope crude to West Coast refineries, is scheduled to retire, according to vessel operator Alaska Tanker Company. The U.S.-flagged vessel is one of a few that comply with the Jones Act, a maritime law that requires shipments between U.S. ports to take place on U.S.-built and manned vessels. A source, who requested anonymity, said the ship would be retired in June, but the company did not confirm the timing.
Thailand’s MTT Arranges Emergency Response Framework
The Map Ta Phut Tank Terminal Company (MTT) has signed an official preparedness framework agreement with Ardent. The deal is the first of its kind in Thailand and is specifically structured to mitigate risk by pre-staging response elements and training Thai-based terminal operators to work with emergency management elements. MTT is a commercial port and storage terminal dedicated for liquid and gaseous petrochemical products.
New Asset Integrity Management System Launched
Bureau Veritas has launched Veristar AIM 3D asset integrity management system, based on technology partner Dassault Systems’ 3DEXPERIENCE platform. The new solution combines a digital twin of any marine or offshore assets with smart data in a collaborative environment. Veristar AIM 3D will be used in the design, development and implementation of the operational lifecycle, to reflect and predict the condition of any asset, or fleet of assets.
EIA Release Short-Term Energy Outlook
The U.S. Energy Information Administration released its Short-Term Energy Outlook. • North Sea Brent crude oil spot prices averaged $52 per barrel (b) in April, $1/b higher than the March average and the fifth consecutive month that Brent crude oil spot prices averaged between $50/b and $55/b. EIA forecasts Brent prices to average $53/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018.
Energy Island: Europeans Mull North Sea Hub
A plan set in motion by three European transmission system operators (TSO) aims to develop mammoth offshore wind farm infrastructure in the North Sea supported by at least one manmade island. First unveiled in June 2016, plans for the North Sea Wind Power Hub project will now press ahead to develop a large offshore renewable European electricity system following the signing of a trilateral agreement by TenneT TSO B.V.
New Containership Design is Self-steering and Emissions Free
Norwegian fertilizer producer Yara and maritime technology firm Kongsberg Gruppe are teaming up to build what they said would be the world's first fully electric and self-steering containership. "The new zero-emission vessel will be a game-changer for global maritime transport contributing to meet the United Nations sustainability goals," the companies said on Tuesday. Automobile makers and technology companies are already working on the development of self-driving cars and trucks…
Cuban Refined Oil Product Exports Drop Sharply
Cuban exports of refined oil products fell about 97 percent between 2013 and 2016, according to a United Nations trade report released this week, reflecting falling…
