HMM, Korea Shipping Company Pact for Sale and Leaseback for Ten Boxships
Hyundai Merchant Marine (HMM) has inked a memorandum of understanding (MoU) with state-backed Korea Shipping Company (KSC) for vessel sales worth up to Won850bn ($739.4m) book value…
Navy Female Participation Rate Continues to Climb
Each year on 8 March, Australian Navy joins with institutions and organisations around the world to celebrate International Women’s Day, recognising the achievements…
OSV Runs Aground in US Gulf
An offshore supply vessel has run aground off the west Cameron Jetties in Louisiana, Wednesday morning. There were no injuries to the four passengers and three crew aboard the vessel, and no pollution was reported. The 120-foot offshore supply vessel Miss Lynda was carrying construction cargo and had 4,300 gallons of fuel and 100 gallons of oil products aboard at the time of the incident. The four passengers were transited off of the ship by the utility ship Sally D…
Rolls-Royce Blue Ocean Team Looks to the Future
Esa Jokioinen leads Rolls-Royce Marine’s Blue Ocean Team, a team that looks five to 10 years into the future to evaluate evolving technology trends, helping to determine where the company will invest. Jokioinen sat in Maritime Reporter & Engineering News’ New York City headquarters to discuss the look of maritime’s future: All arrows point toward digitalization. When Esa Jokioinen and his Rolls-Royce Blue Ocean Team look at future technology trajectory…
BOURBON Reaches Deal to Reorganize Its Debt
French offshore vessel operator BOURBON said it has signed an agreement with its financial partners providing for the rescheduling of the maturities of a large part of its financial debt. Out of long- and medium-term debt totaling €692 million, €365 million of repayments due between 2016 and 2018 have been rescheduled and reduced to an amount of €63 million not repayable until 2018. The remainder of the debt, i.e.
Fast Supply Vessels Delivered to Baru Offshore
Brazilian shipbuilder ETP Engenharia in Rio de Janeiro has delivered the final six vessels of a 12-ship order for Baru Offshore. The six newest 48-meter DNV Classed DP-1 vessels – Baru Serrana, Baru Tesoro, Baru Sinu, Baru Sirius, Baru Taurus and Baru Vega – were delivered over the last several months to Baru Offshore, a subsidiary of INTERTUG, for charter with Petrobras. The vessels’ designer Incat…
Record Number of OSVs to Be Delivered in 2017
Vessel oversupply will continue to plague the offshore industry this year as a record total of 465 offshore support vessels (OSV) are expected to be delivered in 2017, according to VesselsValue. Beginning with the drop in oil prices and then lower demand for offshore research projects, the offshore industry is struggling with historically low asset prices, while many offshore vessel owners around the world have been led to bankruptcy.
Interview: Rear Admiral Paul Thomas, USCG
Rear Admiral Paul Thomas develops and maintains policy, standards and program alignment for waterways management, navigation safety, boating, commercial vessels…
Global Marine Expands Its Fleet
Subsea cable systems design, installation and maintenance firm Global Marine Systems Limited, has added the 6,200 ton cable deadweight CS Recorder to its fleet. Built in 2000, the vessel formerly known as the Maersk Recorder, has previously been chartered by Global Marine for numerous cable installation projects and has since successfully completed work in the oil and gas and renewables sectors. The…
MAN PrimeServ Inks Maintenance Deal with Teekay
MAN Diesel & Turbo’s after-sales division MAN PrimeServ has signed a maintenance contract with Teekay Shipping, one of the world’s largest marine energy transportation, storage and production companies. The new EMC (Engine Management Concept) contract is for the maintenance of the Oak Spirit, Creole Spirit and Torben Spirit, sisters from Teekay’s 173,400-m3 LNG carrier series. The agreement covers the provision of spare-parts…
Britain to Review Tax to Speed up North Sea O&G Deals
Britain will look at ways of making it easier to sell North Sea oil and gas fields by changing tax rules in order to keep them producing for longer, the finance ministry said.
Rolls-Royce Plots Further Ship Intelligence R&D
Rolls-Royce has announced the latest stage in its research and development plans to make remote and autonomous shipping a reality and reap the benefits of increasing digitalization in the marine industry. The company said it is looking to develop partnerships and opportunities with other organizations around the world to, create the capability, competencies and jobs to supply the technology and components required.
Maersk Invests in Refrigerant Container Units
Maersk Line has ordered the first 100 of a total of 200 refrigerated containers to be chilled by Carrier Transicold’s NaturaLINE natural refrigerant based system. Carrier Transicold is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX). Carrier Transicold’s highly efficient NaturaLINE is the first container refrigeration system to use the natural refrigerant carbon dioxide (CO2)…
US Crude Stocks Jump, Gasoline Inventories Plunge - EIA
U.S. crude stocks rose last week as refineries cut output, while gasoline stocks and distillate inventories fell, the Energy Information Administration said on Wednesday.
Algeria to Renew LNG Deal with France's Engie in March
Algeria's state energy company Sonatrach will renew a deal with French gas and power group Engie to supply 10 billion cubic meters of LNG per year, a source at Sonatrach told Reuters on Wednesday.
Baltic Index Ends Higher for 6th Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended higher for its sixth straight session on Wednesday, boosted by stronger rates across all vessel segments. The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, ended up 12 points, or 1.16 percent, at 1,045 points, its highest level since Dec. 13. The capesize index closed up 22 points, or 1.41 percent, at 1,578 points.
Video: Crowley Builds for LNG Bunkering at JAXPORT
Crowley Maritime Corp. and Eagle LNG Partners have started to build a new shore-side liquefied natural gas (LNG) facility on Crowley-leased property at JAXPORT’s Talleyrand Marine Terminal in Jacksonville, Fla. The new LNG bunkering facility will serve Crowley’s Commitment Class LNG-powered combination container/roll-on roll-off (ConRo) ships presently under construction for use in the U.S. Mainland-Puerto Rico trade.
Hansen Joins Hempel as CCO
Hempel has appointed Michael Hansen as its new executive vice president and chief commercial officer (CCO). He will join the coatings manufacturer’s executive management board on 1 May, reporting directly to group president and chief executive officer (CEO), Henrik Andersen. Hansen joins Hempel after 19 years with Maersk, where he most recently held the position of vice president and global head of sales in Maersk Line.
Star Bulk Awarded USCG Qualship 21 for 30 Vessels
The U.S. Coast Guard (USCG) has awarded Qualship 21 status to 30 bulk carriers owned and operated by Star Bulk Carriers Corp., the largest U.S. listed dry bulk operator. The Qualship 21 program rewards high quality ships sailing under qualifying flags. In a letter to Star Bulk, Rear Admiral Paul Thomas of the USCG stated, “Less than 10 percent of all [non-U.S. flagged] ships that operate in the [U.S.] meet the eligibility requirements of this program…
World's Oldest Aircraft Carrier Decommissioned
INS Viraat, the world’s oldest aircraft carrier and the flag ship of the Indian Navy, was decommissioned on Monday after serving for 30 years in the Indian Navy.
