Diana Shipping Signs TC Contract for m/v Houston with SwissMarine
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels…
Glencore-QIA Halts Selling Rosneft Stake to China Energy Company
A consortium of Qatar Investment Authority (QIA) and Anglo–Swiss mining company Glencore has scrapped a deal to sell 14.16% stake in Rosneft to CEFC China Energy Company.
Port of Newcastle CEO Geoff Crowe Resigns
Port of Newcastle advises that Geoff Crowe, Chief Executive Officer, has informed the Board of his intention to resign, effective at the end of June. Geoff joined…
Danish Fleet Surpasses 20 million GT
The total gross tonnage of the Danish ship registry recently surpassed 20 million GT for the first time in history.Denmark, which has been steadily climbing the ranks as a shipping nation, is currently the world's 12th largest register.The fleet under Danish flag continues to grow as the country’s government maintains efforts to ensure conditions are attractive for the maritime industry, the Danish Maritime Authority (DMA) noted…
PSA Marine Orders LNG-fueled Harbor Tug
Wärtsilä said it has been contracted to design and equip one of PSA Marine (Pte) Ltd's newest harbor tugs. Operating on liquefied natural gas (LNG) fuel and incorporating fuel efficiency features, the harbor tug, which will be built by PaxOcean Shipyard, will be aligned with the maritime industry’s increasing emphasis on environmental impact. The order with Wärtsilä, booked in March 2018.The 28-meter long…
Capital Products Acquires M/T Anikitos
Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082…
New Beam Trawler Delivered
Dutch shipbuilder Damen has delivered the first new beam trawler to take to the North Sea in 12 years.Over the last 10 months, Damen Maaskant Shipyards Stellendam (Maaskant) has outfitted the 41-meter hull from stock. The vessel, designated UK 46, is for Hakvoort Brothers, based in Urk, the Netherlands. According to the builder, a key feature of the vessel is the installation of twin Optima nozzles manufactured by Damen Marine Components (DMC).
GE Engines Power USS Cincinnati
GE Marine Solutions' LM2500 marine engines power the U.S. Navy’s newest Independence class Littoral Combat Ship (LCS) USS Cincinnati (LCS 20), which was christened May 5 at the Austal USA shipyard in Mobile, Ala.Each of the ship’s two LM2500 engines produce over 29,500 horsepower, propelling the USS Cincinnati to speeds in excess of 40 knots or 46 miles per hour.“Our skilled and diverse workforce proudly…
Japanese Shipyards Ink Cooperation Agreement
Japanese shipbuilders Mitsui E&S Shipbuilding Co., Ltd. (MES) and Tsuneishi Shipbuilding Co., Ltd. announced they have signed a business cooperation agreement to partner in areas of commercial shipbuilding.The compatriot shipbuilders had announced in February 2018 they were discussing plans to partner, becoming the latest in a string of Japanese yards to team up to combat the industry downturn.Now…
Abu Dhabi Ports Signs a 30-year Deal with MSC to Build Terminal
Abu Dhabi Ports has signed a 30-year concession agreement with Mediterranean Shipping Company (MSC) to build a new container terminal at its Khalifa Port.Abu Dhabi, the capital of the United Arab Emirates (UAE), has spent billions developing the port, which opened in 2012, as part of ongoing efforts to diversify its oil-rich economy.Khalifa Port is on a man-made island roughly half-way between the centres of Abu Dhabi and Dubai, and about 60 kilometres (37 miles) south from Dubai’s huge Jebel Al
Maritime Training Budgets Increasing -MarTID Report
More maritime operators increased their training budgets from 2016 to 2017 than decreased them, according to the Maritime Training Insights Database (MarTID) 2018 Training Practices Report.When compared to 2016, around 40 percent of survey respondents indicated that their training budget had increased in 2017, while just 14 percent reported their training budgets had decreased. The median budget increase…
Under the Sea: A Roadmap for Renewable Energy
Thanks to increasing levels of debt financing for climate-aligned projects, wind-generated power has become one of the fastest-growing green industries. Jessica Williams, an Infrastructure Analyst at S&P Global Ratings, considers the submarine technologies that are making this progress possible.Renewable energy is making an increasing contribution to the electrical grid. By the end of 2016, “green energy” sources accounted for almost a quarter of the world’s electricity supply…
OSV Scrapping Rates Up 153% YTD
As the severity of the offshore energy downturn has increased and the likelihood of older vessels returning to work begins to diminish, owners have slowly come round to the importance of scrapping these vessels. According to VesselsValue, U.S. owners might be leading the way.According to VesselsValue, an online valuation and market intelligence service for the maritime and offshore sectors, in this current period of downturn…
Sanchi Disaster Probe Ends in Split Verdict
A committee investigating a collision between an Iranian tanker and a Chinese freighter has come to diverging conclusions over the causes of the worst oil ship disaster in decades, Iran's state television reported on Saturday.The Panama-registered Sanchi, run by Iran's top oil shipping operator NITC, collided with the CF Crystal, registered in Hong Kong, off the coast of China near Shanghai and the mouth of the Yangtze River Delta on Jan. 6.The Sanchi sank on Jan.
Barges Catch Fire in Alabama
The U.S. Coast Guard said it is working with local agencies to respond to a barge fire on the Mobile River near Mobile, Ala.Coast Guard Sector Mobile received a…
Conoco Moves to Seize PDVSA's Caribbean Assets
U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization…
Cyprus-Egypt Gas Pipeline to Cost $800 mln-$1 bln
A pipeline connecting Cyprus' Aphrodite gas field to Egypt's liquefied natural gas (LNG) facilities will cost between $800 million and $1 billion, Egyptian petroleum…
Carnival Opens Second Cruise Terminal in Barcelona
Carnival Corporation officially opened its second cruise terminal at the Port of Barcelona with an inauguration ceremony attended by government, business and community…
Sevan Drilling Cleared in Petrobras Bribery Case
Noway’s anti-corruption agency Økokrim has closed an investigation into Sevan Drilling over the company’s drilling contracts won with Petrobras between 2005 and 2008.
China Pushes for Yangtze River Economic Belt
Chinese President Xi Jinping called for achieving high-quality economic growth through developing the Yangtze River economic belt. Xi, also general secretary of…
