Kvaerner Invests in New Quay at Stord
Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and this extension will position Kvaerner for deliveries of new solutions to both oil and gas projects and other market segments," said Kvaerner president & CEO, Jan Arve Haugan.
BIMCO: China Breaks New Ground… Again
Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded…
Dumping "Dumb" Ships
BOURBON Corporation, like nearly every other player in the offshore oil and gas sector, is scrambling for its very existance as the dynamics in finding and producing…
Singapore Marine Fuel Sales Surge 7.2%
Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed. Compared with the previous month, sales in January were up 7.2 percent, data from the Maritime and Port Authority of Singapore (MPA) showed.
Mobile LNG Bunkers Take Shape in Germany
Nauticor has conducted the largest-ever LNG bunkering operation in Germany in the Elbehafen in Brunsbüttel. As the maritime market moves rapidly toward alternative fuel in the face of strict sulphur guidelines set to take effect in 2020, LNG is emerging as a prefered alternative, and the means to fuel commercial boats and ships of every size is taking shape in many forms. In Germany, for example, Nauticor…
Oldendorff Conducts Trial Transshipment in India
German shipping company Oldendorff Carriers has conducted a new transshipment operation of coal between two vessels, in the deep, protected water of the Andaman Islands within the Bay of Bengal…
Container Shipping Struggles with Overcapacity: McKinsey
The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report.
Sberbank, Sovcomflot Sign $106m Finance Deal
The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years.
Ammar Kanaan Appointed CEO of Terminal Investment by MSC
The shipowning group Mediterranean Shipping Company (MSC) has appointed Ammar Kanaan as Chief Executive Officer of its cargo container terminals arm Terminal Investment Limited (TiL).
Statoil Extends Contract with Viking Energy
Norwegian oil major Statoil has declared a one-year option for the Platform Supply Vessel (PSV) Viking Energy from April this year, in direct continuation of current contract.
CMA CGM Improves SAMWAF Service
CMA CGM announced the port coverage improvement of its SAMWAF service connecting Brazil and Plata area to West Africa and South Africa strategic markets, in the…
Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness
The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald…
DNV GL Lends Support to Walney 3 Offshore Wind Project
DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension. Located off the coast of…
Salvage Work Resumes off American Samoa
Work to remove a commercial fishing vessel aground off American Samoa has resumed in the wake of Tropical Cyclone Gita. Hazardous weather conditions on Friday forced responders to delay efforts to salvage the grounded 88-foot Taiwanese-flagged vessel Chui Zai Fa No. 1, which is split in half with the bow and stern portions sitting side by side in the surf approximately 300-yards off Leone Bay. U.S.
Trump Proposes $200 Mln Budget for BSEE
President Donald Trump today proposed a $199.9 million Fiscal Year (FY) 2019 budget for the Bureau of Safety and Environmental Enforcement (BSEE) as the Administration aims to support a ramp up in domestic oil and gas production. The FY 2019 budget request includes an estimate of $67.9 million in offsetting collections. Offsetting collections includes $20.3 million for rental receipts, $3.8 million for cost recoveries and $43.8 million for inspection fees.
Interview: William P. Doyle - CEO, Dredging Contractors of America
William P. Doyle is the new CEO & Executive Director of the Dredging Contractors of America (DCA). Twice a U.S. Senate confirmed Presidential appointee to the U.S. Federal Maritime Commission (FMC), Doyle has, over the course of a long and celebrated career, worn many prestigious hats. Prior to his FMC appointment, Mr. Doyle served on cabinet and executive level boards and committees under both the Obama and George W. Bush Administrations. Before that, he served as an officer in the U.S.
Trump’s Infrastructure Proposals Disappoint -WCI
Waterways Council, Inc. (WCI) reacted to the Trump Administration infrastructure principles released today, expressing disappointment that the proposal moves toward eliminating the role of the Federal government to construct, operate and maintain the nation’s waterways by transferring that responsibility to nonfederal public or private entities. The President’s FY2019 budget request and the infrastructure…
Shipbuilder Meyer Turku Wins Again
The global cruise market maintains its momentum with the announcement today that TUI Cruises is ordering another new cruise ship from Meyer Turku. TUI Cruises and Meyer Turku agreed to build a Mein Schiff 7 with delivery in 2023, which is based on the design of New Mein Schiff 1 & 2. The agreement is still subject to financing, which is now being worked on with the banks and Finnvera. "We are very…
RollDock, SAL Heavy Lift Form Dock Vessels Pool
RollDock and SAL Heavy Lift announced plans to join forces for roll-on/roll-off and float-in/float-out heavy lift cargoes, saying they will launch a “world’s first” pool for dock vessels from April 1, 2018. The pool will consist of the combined fleet of six vessels and will be managed by RollDock with SAL providing specialized heavy break bulk cargo support. Five of the vessels comes from the existing RollDock fleet (S and ST class vessels) and one from SAL (Combi Dock I).
Several Car Shippers Face Fines for Rigging Bids
EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter. The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities.
