Maharashtra to Modernize Ports
The Indian Government has taken steps to expand and modernise the posts in the state of Maharashtra. The Minister of State for Shipping Mansukh L Mandaviya has informed that at present…
LCS Manchester Completes Acceptance Trials
The seventh Independence-variant Littoral Combat Ship (LCS) built by Austal, Manchester (LCS 14), has completed acceptance trials December 15 in the Gulf of Mexico, marking the final significant milestone prior to the warship’s delivery in early 2018. This milestone achievement involved the execution of intense comprehensive tests by the Austal-led industry team while underway, which demonstrated to the Navy the successful operation of the ship’s major systems and equipment.
US Exits Search for ARA San Juan
The U.S. Navy said it has begun to wind down operations as part of the international search for the still-missing Argentine submarine A.R.A. San Juan that vanished in the South Atlantic in mid November. The U.S. joined the Argentina-led multinational search efforts within 24 hours of learning of the missing submarine on November 17, and is now drawing down, having twice swept the search areas assigned by the Argentine Navy with advanced sensors. U.S.
Bulker Refloated in St. Lawrence Seaway
A 623-foot bulk carrier was refloated in the St. Lawrence Seaway Saturday after running aground near Wellesley Island, N.Y. last Wednesday. The Antigua Barbuda flagged…
Oil Trades Strengthen to Mid-2015 Levels on Iranian Unrest
Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. U.S. West Texas Intermediate (WTI) crude futures traded flat at around $60.40 by 1200 GMT after hitting $60.74 earlier in the day, their highest since June 2015. Brent crude futures, the international benchmark…
Iran Oil Production, Exports Not Impacted by Protests
Iran's crude oil production and exports have not been impacted by the unrest spreading across the country, Iranian oil and shipping sources said on Tuesday, as a crackdown intensified against anti-government demonstrations that began last week. Iran, OPEC's third-biggest oil producer, pumps around 3.8 million barrels per day. "I see no impact on the production and export," one Iranian oil industry source said, speaking on condition of anonymity.
Coast Guard Rescues Florida Man from Sinking Car
The U.S. Coast Guard rescued an elderly man from a vehicle that fell into a marina in Panama City, Fla. A boat crew from Coast Guard Cutter Marlin was launched to rescue the 89-year-old man behind the wheel after crew members saw his vehicle go into the St. Andrews Marina in at approximately 12:45 p.m. Saturday. The boat crew broke the car’s window, pulled the man from the vehicle and transferred him to emergency medical personnel ashore.
Saudi Aramco Shipyard Joint Venture Appoints CEO
Saudi Aramco and its partners have appointed Fathi K. Al-Saleem as chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. The state-owned oil giant said in a statement on Friday that International Maritime Industries (IMI) had been officially launched in partnership with National Shipping Co of Saudi Arabia (Bahri)…
Hedging Energy Bets: The Case for a 2018 Oil Bull Run
Hedge funds gamble OPEC will tighten oil market too much. Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. A record net long position has been accumulated by hedge funds and other money managers, amounting to 1,183 million barrels in the five biggest futures and options contracts covering crude, gasoline and heating oil.
Ottawa Express First Ship in Port of Montreal in 2018
By crossing the downstream limits of the Port of Montreal at Sorel at 11:55 a.m., the Ottawa Express became the first ocean-going vessel to reach the Port of Montreal without a stopover in 2018.
Tanker Collided with Oil Rig in North Sea
The tanker Elsa Essberger collided with unmanned oil rig Q1 with is no longer in use, at around 1820 UTC Dec 31 in North sea some 20 nm southwest of Den Helder, Netherlands.
Hyundai Glovis Bags $1.3bln Contract
Hyundai Glovis, a logistics company headquartered in Seoul and part of the Hyundai Kia Automotive Group, has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles…
Shanghai Port Sets New World Record
The annual handling capacity of Shanghai Port surpassed 40 million TEUs (twenty-foot equivalent units), breaking an existing world record, the Chinese state media reported.
South Korean Shipyards Aim More Orders
South Korean shipyards have sharply raised their order targets for next year on expectations that the shipbuilding sector will improve, Yonhap reported. The country's…
Total Extends Energy Scout PSV Contract
Norwegian shipowner Golden Energy Offshore Services has been awarded a contract extension for one of its platform supply vessels with Total in Nigeria. The company…
Seafarer Shore Leave Gets Extra Protection
Seafarers' rights to shore leave have been strengthened through amendments which enter into force globally on 1 January 2018, under the revised treaty which aims…
NYK Study on Avoiding Collisions
NYK and NYK Group companies MTI Co. and Japan Marine Science released partial findings of a study on collision risk judgement and the autonomous operation of vessels.
