MC-Class Vessels Incorporated in BigLift Fleet
This week, BigLift Shipping’s BigLift Baffin arrived in Singapore to deliver a crane boom and luffing frame for Heerema Marine Contractor’s new flag ship Sleipnir from the Huisman wharf in Xiamen…
Team Tankers Announces $206 Mln Acquisitions
206 MILLION Acquisition of Laurin Shipping AB, Anglo-Atlantic Steampship and related entities announced. Upon completion of tranactions, Team Tankers' fleet will grow to 52 from 37 vessels.
LNG Carrier Seri Camar Delivered to MISC
MISC Group has taken delivery of the 150,200 CBM liquefied natural gas (LNG) carrier Seri Camar, the fourth in a series of five newbuild MOSS-Type Seri C Class vessels built by Hyundai Heavy Industries (HHI). Owned by MISC, the Malaysian-flagged Seri Camar joins sister vessels Seri Cenderawasih, Seri Camellia and Seri Cempaka on long-term charter to PETRONAS. The delivery brings the current number of MISC’s LNG fleet to 28 vessels.
HSH Nordbank Sold to Buyout groups Cerberus, Flowers
Germany's HSH Nordbank, formerly the world's largest ship financier, is being sold to private equity firms as it emerges from crippling writedowns and state bailouts…
Hapag Lloyd Triples 2017 Profit
Full-year operating profit up by 226 percent; full figures, guidance due on March 28. German container shipping firm Hapag-Lloyd on Wednesday reported its 2017 operating profit more than tripled…
Tanker Scrapping is on the Rise -Vessels Value
Tanker demolition is on the rise as 3.5 million DWT has been scrapped so far in 2018, according to Vessels Value. Each factor played a part as the decision to remove a ship from service varies depending on the financial situation of the owner. Some may be motivated as the $/t offered price offsets enough of their remaining mortgage on a ship to allow them to move out of a low cashflow market, while others may remove a ship after it completes a long-term storage contract.
First Daegu-class Frigate Delivered to Korean Navy
The Republic of Korea Navy (RoKN) has taken delivery of its first Daegu-class (FFX-II) frigate. South Korea’s defense procurement agency, Defense Acquisition Program…
SolstadFarstad, Yxney Maritime Roll Out Fuel Efficiency Software
SolstadFarstad and Yxney Maritime AS have completed a pilot project to develop and roll out the fuel efficiency and emission reduction software MarESS. During the pilot…
Unified Command to Tackle Oil Spill in Shuyak Strait, Alaska
Coast Guard and Alaska Department of Environmental Conservation have established a Unified Command in response to an oil spill 49 miles north of Kodiak in Shuyak Strait, Tuesday.
Solstad Farstad Bags New Contracts
Solstad Farstad ASA has entered into a contract with Fugro Netherlands Marine BV for the CSV, Normand Flower, for operations in North European waters. The contract period is 6 months firm.
DP World Moves Ahead with Suez Canal Industrial Zone
Dubai-based ports operator DP World has inked an agreement with the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) to launch the first phase of an…
British Ports Association Comments on UK’s Future Border Arrangements
The British Ports Association has consistently supported the Government’s ambition for frictionless trade with the EU post-Brexit, said Mark Simmonds, Policy Manager at the British Ports Association.
Ship Finance International Bullish on 2018
Ship Finance International announced net income of $20 million and $152 million of total charter revenues for the fourth quarter ended December 31, 2017. The company…
Mitsui O.S.K. Lines Signs MoU with Russian Federation
Mitsui O.S.K. Lines (MOL) signed a Memorandum of Understanding (MOU) with the Far East Investment and Export Agency (FEIA) under the Ministry of the Russian Federation…
Flex LNG Reports 4Q Profit
Norway-listed shipowner Flex LNG reported a net profit of $1.3 million for the fourth quarter of 2017 compared to a net loss of $0.02 million in the corresponding quarter last year.
Ocean Yield to Acquire Five Handysize Dry Bulkers
Ocean Yield ASA announced that the Company has agreed to acquire five modern handysize dry bulk vessels with 10 -year bareboat charters to companies owned and guaranteed by Interlink Maritime Corp.
Star Bulk Carriers Posts USD 23.9 mln Profit 4Q
Greece-based Star Bulk Carriers Corp. sailed into a net profit of USD 23.9 mln for the fourth quarter and year ended December 31, 2017 from a loss of USD 33.1 mln…
Op/Ed: Safeguarding Our Marine Transportation System
The U.S. Coast Guard has the enduring responsibility to safeguard the MTS and enable the uninterrupted flow of maritime commerce. Our great Nation’s vast network of navigable waterways, deepwater ports and protected harbors are natural economic assets and provide unfettered access to the world’s two largest oceans. This powerful maritime capability sustains America’s national security and fuels economic prosperity through the 25,000 mile Marine Transportation System (MTS).
Peru Resumes LNG Exports after Pipeline Rupture
Peru has exported its first shipment of liquefied natural gas (LNG) in three weeks after a pipeline rupture in the jungle disrupted production, the state energy agency Perupetro said on Tuesday. The ship Barcelona Knutsen departed Peru for South Korea on Monday with 170,999 cubic meters (6,038,772 cubic feet) of fuel from the Pampa Melchorita plant, which is operated by the consortium Peru LNG, Perupetro said in a report. U.S.-based Hunt Oil has a 40 percent stake in Peru LNG.
Corvus Energy to Power Hybrid PSVs in GoM
Orca ESS from Corvus Energy has been selected to provide battery power for 3 additional SEACOR platform supply vessels. Corvus Energy is pleased to announce that it has been selected by SEACOR Marine and Rolls-Royce to provide lithium ion-based energy storage systems (ESS) for 3 new platform supply vessels (PSVs) being fitted with hybrid power systems. The brand-new PSVs were acquired by SEACOSCO, a joint venture between SEACOR and China Cosco Shipping Group (COSCO)…
