Baltic Index Snaps Five-Session Winning Streak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday after five straight sessions of gains as capesize rates dropped. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 14 points, or 1.1 percent, to 1,324 points. The index on Wednesday hit its highest level since Nov. 11, 2014. The capesize index fell 65 points or 2.4 percent to 2,690 points.
COSCO Shipping Reports $1.4 bln Loss for 2016
China's COSCO Shipping Holdings Co Ltd made a loss last year of 9.9 billion yuan ($1.44 billion), the company reported on Thursday, due to both persistently weak freight rates and restructuring costs. Freight shipping firms have been hit hard by a prolonged downturn in rates caused by overcapacity and a slowdown in global trade. COSCO, the world's fourth-largest container shipping line, became a new company last yearā¦
Argentine Port Workers Suspend Strike after Protester Run Over
Port workers in Greater Rosario, from where 80 percent of Argentina's grains is shipped, suspended plans for a 24-hour strike on Thursday after a truck driver ran over and killed a protesterā¦
Princess Cruises Takes Ship Delivery from Fincantieri
Majestic Princess, the third Royal Princess class cruise ship built by Fincantieri for ship owner Princess Cruises, was delivered at the Monfalcone shipyard in Italy. Princess Cruises, a Carnival Group brand, will deploy the new vessel on the Chinese market. The 145,000-gross-ton Majestic Princess is said to be the largest ship ever built in Italy, able to accommodate 4,250 passengers in 1,780 cabins and 1,350 crew members.
Alfa Laval Sees Greater Interest in High Flow BWTS
With the International Maritime Organization (IMO) Ballast Water Management (BWM) Convention set to take effect in September, Alfa Laval said it has seen growing customer interest in ballast water treatment systems and in its PureBallast. Of particular note is interest in PureBallast systems with high flow capacities. While interest for high flow PureBallast systems has increased, the manufacturer said it is prepared to support vessels with these needs. The IMO and U.S.
Maintenance Dredging Underway at Port of Cape Town
Transnet National Ports Authority (TNPA)ās Dredging Services division has embarked on a $ 1.1 million maintenance dredging campaign at the Port of Cape Town to restore the design depths inside Duncan dock. The maintenance campaign, which began on March 8, 2017, is scheduled for completion by the end April 2017. The main objective of the dredging campaign is to ensure the Port of Cape Town providesā¦
Partners Ink MOU for Indonesia Maritime Logistics
LOUIS DREYFUS ARMATEURS Group (LDA) has signed a Memorandum of Understanding (MOU) with palm oil plantation company Golden Agri-Resources (GAR) to develop maritimeā¦
USCG Recognizes T&T Marine Salvageās Capabilities
T&T Marine Salvage, a member company of the Teichman Group, founded in 1957, received a new certification by the U.S. Coast Guard to detect and recover non-floating oils. T&T is the first Coast Guard recognized Salvage and Marine Firefighting service provider to receive this new Oil Spill Removal Organization classification initiated by the U.S. Coast Guard in 2016. This new certification is in recognitionā¦
India Boosts Shipping Industry
The Expansion, modernization and upgradation of shipping infrastructure in India is an on-going process to keep the ports abreast with new technologies and also to promote trade and cargo.
John C. Stennis Best in the West
Commander, Naval Air Forces, Pacific announced Nimitz-class aircraft carrier USS John C. Stennis (CVN 74) as the recipient of the 2016 Battle "E" award for aircraftā¦
Working for Africa
International Maritime Organization (IMO) has contributed to the latest meeting of United Nations bodies working in Africa ā the RCM-Africa forum. The forum, which held its 18th session in Dakarā¦
Indian Waterways Development in Big Way
The ongoing project on national waterways āJal Marg Vikasā is a Rs 5,400-crore World Bank funded project on the Ganga, being developed between Allahabad and Haldia to cover a distance of 1620 km.
Preparing for Deep Sea Command
Commanding a submarine is arguably one of the toughest jobs in the world so training for the role it is justifiably challenging, preparing those who spend theirā¦
Indian Navy 'Coast to Coast' Rally
The final leg of "Coast to Coast" rally organized by Indian Navy as part of Social Outreach Programme was flagged off from Visakhapatnam on 28 March 2017 by Vice Admiral Atul Kumar Jain AVSMā¦
Interview: Crystal CEO Edie Rodriguez
Edie Rodriguez is Chairman, CEO and president of Crystal Luxury Corporation, Ltd., a broad travel brand that includes Crystal Cruises, Crystal Yacht Expedition Cruises, Crystal River Cruises, Crystal Luxury Air, Crystal AirCruises and Crystal Exclusive Class ships with Crystal Residences. She met with Maritime Reporter in NYC to discuss the evolution of the cruising brand, as well as the benefits of owning your own shipyards in todayās torrid cruise market.
Pemex Says Port Accident Injures 17 Workers
Mexican national oil company Pemex said on Wednesday that an accident at a terminal near the Gulf coast port city of Tampico has injured 17 workers, but none were badly hurt.
Simulation: Maritime Professional Training
In South Florida sits MPT, one of the most prolific and progressive maritime training facilities. Already fully stocked, MPT added significant weight to its offering in 2016 with investment in 25,000 sq. ft. of new training space and technology. MPT handles more than 12,000 students a year from all segments of the maritime industry and from more than a dozen countries. With that range MPT has students from ship operatorsā¦
Naval Design: The Human Role
Many navy new building projects face a double challenge; the variety and complexity of operations are increasing, while at the same time, a reduction in manning is a prerequisite in order to lower building and operational costs. Therefore, it is important to identify the required number and type of crew and the supporting systems in the concept phase. For a long time the use of weapons and platform systems have relied on a high degree of integratedā¦
New Mississippi Container Terminal Planned
Plans have been put in motion to develop a new intermodal container terminal on the lower Mississippi River. Designed to service the largest ocean carriers, the new 1,000 acre container terminal will be capable of docking vessels up to 20,000 TEU with deep-water access and 21,600 linear feet of waterfront allow for multiple ocean and APCT vessels to be accommodated simultaneously. The container portā¦
Tech File: Condition Monitoring Systems
All operators worry about the same thing ā the next outage that puts your vessel out of commission. Millions of dollars are invested every year into maintenance programs. State-of-the-art condition monitoring systems like the Windrock 6400 can predict and help prevent downtime and failures. Performance monitoring can be described as the process of gathering data from machinery to assess the overall operating capacity of the system it is a part of.
