India's Oil Imports Reach Record High in January
India imported a record 4.93 million barrels of oil per day (bpd) in January to feed its expanded refining capacity and meet rising demand, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. The world's third-biggest oil importer shipped in 13.6 percent more oil in January than a year earlier and about 12.5 percent more than the previous month, the data showed.
DNV GL Revises Stern Tube Bearing Class Notations
DNV GL has revised its class rules for single stern tube bearing installations and introduced two new class notations, “Shaft align(1)” and “Shaft align(2)”, to help customers better manage the risk of stern tube bearing failure. The new class notations can be assigned to both newbuilds and vessels in service in conjunction with propeller shaft withdrawal. The classification rules covering shaft alignment…
Triple-screw Tug for the Hudson
“The Daisy Mae is the closest you can get to Z-drive maneuverability, without the cost of Z-drive,” maintains her builder Joseph Rodriguez of Rodriguez Ship Building Inc. in Bayou LaBatre, Ala. Rodriguez has designed and built a lot of tugs over the years and doesn’t make this claim lightly. Further more he backs it up with his description of the beamy 82 by 32-foot tug that his yard delivered to Coeymans Marine Towing.
Vigor Adds $20 Mln Drydock
Vigor built on its ongoing investments in critical infrastructure in the Puget Sound in 2017 with the $20 million investment in another drydock. At 640 ft. long with a clear width of 116 ft., the new dock will be the third, and largest, at Vigor’s Harbor Island shipyard. The drydock is expected to be operational in early first quarter 2018 and is part of Vigor’s ongoing commitment to make Harbor Island…
ClassNK Updates PrimeShip-HULL Software
ClassNK has just released the latest version of its design support software PrimeShip-HULL (HCSR) Ver.5.0.0, developed in response to the IACS Common Structural…
Cove Point LNG Terminal's First Export Imminent
Methane Spirit, a liquefied natural gas tanker, said on Thursday it would arrive at Dominion Energy Inc's Cove Point LNG export facility in Maryland around March 31…
Tech Talk: GHS Adds 'Seakeeping'
General HydroStatics is no longer just about hydrostatics, and will soon offer capabilities in the world of hydrodynamics with the introduction of a long awaited addition to the GHS product family: an optional seakeeping module. Adding a seakeeping module means run files may now include seakeeping capabilities by adding a couple new commands and existing geometry files (.GF) can be used for the seakeeping analysis with little or no modification.
Baltic Index Down as Capesize Rates Dip
The Baltic Exchange's main sea freight index fell for a fourth straight session on Thursday as demand for capesize vessels remained muted amid a week-long break in China. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down six points, or 0.55 percent, at 1,089 points. The capesize index shed 58 points, or 3.37 percent, to 1,663 points.
Op/Ed: AIWA - A National Asset Worth Funding
What does the future hold for infrastructure investment on the Atlantic Intracoastal Waterway in 2018? The Atlantic Intracoastal Waterway Association (AIWA) is a nonprofit, membership organization for one of the nation’s longest water infrastructure projects stretching over 1,100 miles: the Atlantic Intracoastal Waterway (AIWW). We are grateful to serve as the one unified Voice of the Waterway and below is our outlook for 2018.
Four Rescued from Sinking Vessel Off Martha's Vineyard
A U.S. Coast Guard aircrew rescued four people from a sinking fishing boat Wednesday, about 18 miles south of Martha's Vineyard, Mass. The captain of the vessel Sea Star radioed watchstanders at Coast Guard Sector Southeastern New England at about 6:20 p.m., reporting their vessel was taking on water, listing heavily, and they were donning their immersion suits. Diverting from a training flight, aircrews from an MH-60 Jayhawk helicopter and HC-144 Ocean Sentry arrived on scene.
Coast Guard Offloads 14,000 Pounds of Cocaine in Port Everglades
The crew of the Coast Guard Cutter Hamilton is scheduled to offload approximately 7 tons of cocaine Tuesday in Port Everglades worth an estimated $190 million wholesale seized in international waters in the Eastern Pacific Ocean. The drugs were interdicted off the coasts of Mexico, Central and South America by multiple U.S. Coast Guard cutters. The cutter Hamilton was responsible for two cases, seizing an estimated 1,931 kilograms of cocaine.
LR Appoints Butcher as Managing Director
Lloyd’s Register (LR) has announced the appointment of Paul Butcher as Managing Director, LR Management Systems & Inspection Services. Based in Birmingham, U.K.…
Royal IHC Completes Two-year Dredger Overhaul
The self-propelled cutter suction dredger (CSD) Huta 14 has resumed operations for Saudi Arabian owner Huta Marine following two-years of renovation work performed by Royal IHC. The overhaul, which involved replacing Huta 14’s three large diesel engines, as well as integrating an electrical installation for the underwater pump engine and drive, was completed by IHC Middle East based in Dubai with support from IHC’s Asset Upgrade Services department in The Netherlands.
ClassNK: New PrimeShip-HULL (HCSR) Software
ClassNK released the latest version of its design support software PrimeShip-HULL (HCSR) Ver.5.0.0, developed in response to the IACS Common Structural Rules for Bulk Carriers and Oil Tankers (CSR BC & OT). The new version incorporates the latest rule amendments to CSR BC & OT (Rule Change Notice 1 to CSR 01 JAN 2017 version) including amendments based on feedback from the industry. In addition to the incorporation of the latest rule amendments…
Hedge Funds Hook Shipping Stocks Grappling for Recovery
Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors…
Huntington Ingalls Industries Q4 Revenue up 3.9%
U.S. military shipbuilder Huntington Ingalls Industries reported fourth quarter 2017 revenues of $2 billion, up 3.9 percent from the fourth quarter of 2016. Operating income in the quarter was $227 million and operating margin was 11.4 percent, compared to $268 million and 13.9 percent, respectively, in the fourth quarter of 2016. Diluted earnings per share in the quarter was $1.41, compared to $4.20 in the same period of 2016.
P&I Clubs Strong But Pricing Under Pressure
Balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, bolstered by several years of positive earnings but underwriting…
Global Seaborne LPG Volumes Grow: Epic Gas
Global seaborne LPG volumes saw continued growth in 2017 reaching 91.9 million tonnes, 4.3% higher than the 88.1 million tonnes shipped in 2016, says Epic Gas. Epic…
Scorpio Tankers Reports 4Q Loss
Monaco-based tanker owner Scorpio Tankers has reported a widened net loss for the fourth quarter of 2017, reaching USD 41.5 million, when compared to the same quarter…
Depressed Outlook in Chemical Shipping Market: Drewry
Chemical shipping freight rates will weaken through 2018 due to the depressed outlook on overtonnaged long haul routes, according to the latest edition of the Chemical Forecaster…
