Enhancing Historic Lake Michigan Docking Facilities
A federal FASTLANE grant has been approved for S.S. Badger Ports & Harbor project impacting Manitowoc, Wis. and Ludington, Mich. A primer on how things get done. This is a story about two communities on the shores of Lake Michigan and the unique car ferry that connects them. The SS Badger provides a nautical “highway” across one of our nation’s major waterways, carrying passengers, oversized loads and trucks of nearly every kind.
Virtual Aid to Navigation: Here Now, Here to Stay
Vesper Marine designed its Virtual AIS Beacon in 2010 and installed the first solution in 2011. Developed to address the need to make hazards at sea visible when costly physical infrastructure is not appropriate or is impossible to deploy, the Virtual Aid to Navigation technology that Vesper Marine has created is based on the international standardized AIS, which all large ships must use and many yachts…
Baltic Index Records Best Week in 3 Months
The Baltic Exchange's main sea freight index hit its highest in more than three weeks and recorded its biggest weekly gain in about three months as demand improved for dry bulk commodities. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 18 points, or 1.54 percent, to its highest since Jan. 30 at 1,185 points. Baltic index, which tracks rates for ships carrying dry bulk commodities…
Cyprus Accuses Turkey of Blocking Drillship Again
Cyprus accused Turkey on Friday of threatening to use force against a drillship chartered by Italy's Eni, in a standoff over hydrocarbons rights in the eastern Mediterranean.
AP Moller-Maersk Planning Roadshow ahead of Euro Benchmark
A.P. Møller - Mærsk A/S rated Baa2/BBB (on review for possible downgrade/CreditWatch negative) by Moody's/S&P, the integrated transport and logistics company, has mandated Barclays…
Schlumberger, Subsea 7 Mull Oil Services JV
Schlumberger, the world's largest oilfield services firm, and smaller peer Subsea 7 said on Friday they were entering exclusive talks to form a joint venture to deliver subsea installations and services for oilfields. The news lifted Subsea 7 shares on hopes the talks could be the first step towards a full takeover, in a sector that has already seen consolidation with the 2016 merger of Technip and FMC Technologies.
Flooding Cripples Grain Barge Shipments in U.S. Midwest
Grain barge shipping came to a near standstill in parts of the U.S. Midwest on Thursday as recent heavy rain and melting snow swelled rivers, halted barge loading…
Shoreham Port supporting Women in Maritime
Shoreham Port is part of a high-level Taskforce, established by Maritime UK, to work collaboratively with other businesses in the industry to promote women in the maritime sector.
CEO Haugan Leaves Kvaerner to Lead Aker Energy
Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy.
Hyundai Heavy Bags LPG Storage Tank Deal in Nigeria
Hyundai Heavy said it plans to start to build the tanks in May and is set to deliver the tanks to Nigeria's Dangote Oil Refining Company, Africa's largest refinery, beginning in April 2019.
Yang Ming Marine Offers Korea-Vietnam-Thailand Service
Taiwan-based ocean shipping company Yang Ming Marine Transport Corporation announcesdthat it will provide Korea-Vietnam/Thailand service (KVX) as of March 7th, 2018.
US Lays Keel for 21st Littoral Combat Ship
The Lockheed Martin (LMT)-led industry team officially laid the keel for the U.S. Navy's 21st Littoral Combat Ship (LCS), the future USS Minneapolis-Saint Paul,…
Diana Shipping Reports Loss for 4Q
Greece-based Diana Shipping inc. (DSX) has reported a loss of $436.9 million in its fourth quarter. The net loss attributed to common stockholders of $438.4 million for the fourth quarter of 2017…
Teekay Offshore Partners Up on Revenue
Teekay Offshore Partners reported fourth quarter revenue at USD 295.7mln versus USD 274.9mln year ago, registering a growth of +7.6% YoY basis. “During the fourth quarter of 2017…
First Women in Maritime Taskforce Meeting Held
UK Maritime Minister Nusrat Ghani MP joined the first meeting of maritime sector's new Women in Maritime Taskforce, demonstrating government support for the initiative.
Hyundai Merchant Marine Crosses 10,000 TEU in US Premium Service
South Korea's Hyundai Merchant Marine (HMM) said that its handling volume of US Premium Service reached over 10,000 TEU as of the end of January. Since May last year…
GD Electric Boat Wins Funds for Future Sub R&D
General Dynamics Electric Boat, Groton, Connecticut, is being awarded $8,788,219 for cost-plus-fixed-fee modification P00023 to previously awarded contract (N00014…
Oil from Sunken Tanker Sanchi Reached Japan's Shores
Oil that reached islands in southern Japan earlier this month is highly likely to have come from the sunken Iranian tanker Sanchi, the Japan Coast Guard said on Thursday. Samples of oily matter that washed up on Feb. 8 on the shores of the Okinoerabu and Yoron islands in the Amami chain were found to be linked to the Sanchi's sinking, the Coast Guard said. The Sanchi sank on Jan. 14 after colliding with a freighter on Jan. 6 in the world's worst oil tanker disaster in decades.
Borr Drilling Buys Paragon Offshore
Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil prices in 2014 forced oil firms to cut back on offshore exploration, reducing demand for drilling rigs at a time when new rigs ordered during the boom years were entering the market, pushing rates down to, or below, operating costs.
Iran Hints at Building Seaborne Nuclear Reactors
Iran has fired a diplomatic warning shot at Washington by raising the prospect of building nuclear reactors for ships while staying within the limits set by its atomic deal with major powers, a U.N. nuclear watchdog report showed on Thursday. U.S. President Donald Trump has long railed against the 2015 nuclear deal for reasons including its limited duration and the fact it does not cover Iran's ballistic missile programme.
