Oil Slides toward Weekly Loss on Excess Supply Worries
Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly loss in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears. Brent futures were down 81 cents at $64 a barrel by 1502 GMT. Earlier in the day, they fell as far as $63.70, the lowest since Dec. 20. U.S.
Fisherman Medevaced off New York Coast
A U.S. Coast Guard Air Station Cape Cod MH-60 Jayhawk helicopter crew medevaced a 51-year-old man, early Thursday morning from a fishing vessel approximately 45-miles south of Montauk.
Capesize Rally Boosts Baltic Index by Nearly 2%
The Baltic Exchange's main sea freight index on Friday marked its best day in over two weeks, led by stronger demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose for the fourth straight day and was up 19 points, or 1.72 percent at 1,125 points. The index logged its biggest one-day percentage gain since Jan. 24. The capesize index gained 128 points, or 7.7 percent, to 1,790 points.
DNV GL Boosts Investment in 3D Printing
The new center, which is supported by the Singapore Economic Development Board (EDB), will focus on developing competence including qualification, certification and training for additive manufacturing (AM), also known as 3D printing. While AM is raising more and more interest in various industries, as the benefits of speed and cost against traditional product manufacturing become apparent, the adoption level in the O&M sector is still low due to challenges in qualification and certification.
Lebanon Will Use Energy Block Disputed by Israel
Lebanese Energy Minister Cesar Abi Khalil vowed on Friday there would be full exploration in offshore energy Block 9, part of which lies in waters disputed by neighbouring Israel.
BAE Systems Jacksonville: Ship Repair's 'Destination of Choice'
From government to commercial to megayacht owners and everything in between, the BAE Systems ship repair yard in Jacksonville, Fla. is well-positioned to prosper. David M. Thomas, Jr.’s , who at the time of our interview was Vice President & General Manager, Southeast Shipyards, Ship Repair, BAE Systems*, explains. No matter where the conversation starts with David M. Thomas, Jr., it always seems to end in the same place: people.
UN: 22 Ethiopian Migrants Missing off Yemen
Twenty-two Ethiopian migrants are missing after being dumped in the sea off Yemen, the U.N. International Organization for Migration (IOM) said on Friday. IOM spokesman…
Four High Speed Ferries Ordered at Aulong
Aulong Shipbuilding, a joint venture company between Australian shipbuilder Austal and Guandong Jianglong Shipbuilding of China, has secured contracts for four new high speed ferries. Under the recently awarded A$20 million (US$15.6 million) contracts, Aulong will design and build four 42-meter high speed catamarans for Xidao Dazhou Tourism Co Ltd. Construction will commence from Aulong’s Zhongshan shipyard in Guandong Province in March 2018, with delivery scheduled for early 2019.
LNG Rebounds as Asian Buyers Replenish Inventory
Interest for prompt spot cargoes still keen; demand could roll over to April. Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold…
Maersk Profit Miss, Outlook Puts Shipping in Spotlight
Maersk management hints at hitting top of 2018 EBITDA range. A.P. Moller-Maersk's move to focus on transport and jettison oil was tested on Friday as the world's…
BAE System Wins Ship Repair Navy Contract
BAE Systems Jacksonville Ship Repair LLC, Jacksonville, Florida, is being awarded a $9,613,062 firm-fixed-price contract for dry-dock selected restricted availability…
Samsung Heavy Industries Bags USD 91.47mln Newbuild Order
Samsung Heavy Industries (SHI) swept 1 trillion KRW (USD 91.47mln) worth orders, including an order from an Asian owner to build eight 12,000TEU containerships for around 820 billion KRW.
IMO Signs Partnership Deal with European Bank
The International Maritime Organization (IMO) announced that it has signed a new partnership agreement with the European Bank for Reconstruction and Development…
Guy Platten New Secretary-General of ICS
The Board of the International Chamber of Shipping (ICS) announced the appointment of Guy Platten to the role of Secretary General, after almost five years in the UK Chamber of Shipping.
India Exempts Biometric Enrolment to Promote Cruise Tourism
In order to promote cruise tourism in the country the Government of India has exempted cruise tourists arriving with e-visa from the requirement of biometric enrolment for the major ports…
DryShips to Spin Off of Its Gas Carrier Business
DryShips, a diversified owner of ocean going cargo vessels, announced that its wholly owned subsidiary, Gas Ships Limited has filed a registration statement on Form F-1 with the U.S.
Qatar Accedes to BWM Convention
​Sixty-eight countries have now signed up to International Maritime Organization (IMO)'s Ballast Water Management Convention, with Qatar being the latest to accede…
E.R. Schiffahrt Enhances Vessel Connectivity
KVH Industries, Inc., announced that global ship manager E.R. Schiffahrt has chosen KVH’s new advanced TracPhone V7-HTS antenna equipment and the AgilePlans subscription…
Bollinger Delivers USCGC Richard Snyder (FRC 27)
Louisiana shipbuilder Bollinger Shipyards said it delivered the U.S. Coast Guard’s 27th Fast Response Cutter (FRC), U.S. Coast Guard Cutter Richard Snyder, on February 8, 2018 in Key West, Fla. The vessel’s commissioning is slated for April, 2018 in Atlantic Beach, N.C. The 154-foot patrol craft USCGC Richard Snyder is the 27th vessel in the Coast Guard's Sentinel-class FRC program, and the first be stationed in Atlantic Beach.
MES, TSUNEISHI Form Shipbuilding Alliance
Two more Japanese shipyards have formed a business alliance as the nation’s shipbuilders continue to struggle against an industry downturn. Mitsui Engineering & Shipbuilding Co., Ltd. (MES) and TSUNEISHI Shipbuilding Co., Ltd. say they will collaborate on commercial shipbuilding and design, becoming the latest in a string of Japanese shipbuilders to form similar partnerships in attempts to better compete with yards in China and South Korea.
