Storage Tank at Libya's Ras Lanuf Oil Port Has Collapsed
One of two oil storage tanks ignited amid clashes at the Libyan oil port of Ras Lanuf has collapsed after burning for two days, a local engineer and a fire fighter said on Tuesday.Ras Lanuf's storage tank No. 12 was set on fire on Sunday, three days after another storage tank, No.
Op/Ed: Continuous Improvement for the US Salvage Indsutry
U.S. salvage industry update: Coast Guard recognition and continuous improvement for the domestic salvage industry and its working professionals.Professional salvors are called in when the ship’s crew is overwhelmed – the last resort to protect lives, minimize environmental impacts and save the ship and cargo. These salvage masters, divers, firefighters, naval architects, heavy lift operators and other salvage team members regularly go into harm’s way and consistently perform incredible feats.
Rescuers Hunting for Ferry Disaster Victims in Indonesia
The search for victims of a ferry that sank in the lake of an ancient supervolcano crater in Indonesia will resume on Wednesday with divers and an underwater drone…
DAMCO Names Dixit CEO for India, Bangladesh and Sri Lanka
Supply chain management and freight forwarding services provider DAMCO, part of A.P. Moller – Maersk, has announced the appointment of Ashutosh Dixit as CEO for India, Bangladesh and Sri Lanka (IBS) effective from June 15, 2018.A seasoned executive with over two decades of experience in Supply Chain, Ashutosh will lead the next phase of growth for Damco across IBS with a key focus on offering innovative…
Goliath Gantry Crane Delivered to Meyer Turku
The largest gantry crane in the Nordic countries was delivered to Meyer Turku shipyard by Finnish Konecranes. The goliath crane will be used to build increasingly large cruise ships at Meyer Turku shipyard with an even higher degree of industrialization.“Normally we are the ones delivering large high tech products to our customers, but this time we are the customer. The new crane is an essential part of our €200m ($231m) ramp-up investment program, as it will triple our daily lifting capacity.
Weakened Rates Weigh on Baltic index
The Baltic Exchange's main sea freight index fell for the second day in a row on Tuesday, pressured by weaker rates for capesize and panamax vessels.The overall index, which tracks rates for ships carrying dry bulk commodities, was down 23 points, or 1.6 percent, at 1,419 points, its biggest one-day percentage decline in three weeks.The capesize index slipped 41 points, or nearly 2 percent, to 2,187 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne carg
21 Graduate from Webb Institute
On Saturday, June 16, 2018, Webb Institute awarded 21 Bachelor of Science degrees at its 122nd Commencement Ceremony. Each graduating student received a dual degree…
Cargill Aims to Cut Ship Emissions 15% by 2020
Cargill Inc aims to cut carbon emissions from its international shipping unit by as much as 15 percent by 2020, to meet U.N. regulations to reduce pollution and demands from some of its food manufacturer customers for more environmentally-friendly operations.The global commodities trader, which was scheduled to announce the emissions goal late on Monday, told Reuters the reduction of CO2 per cargo-ton-mile was targeted at its time-chartered fleet.
Libya Oil Output Slashed by Port Attacks
Libya has lost some 400,000 barrels per day (bpd) of oil production in recent days because of militant attacks at the Ras Lanuf and Es Sider ports, the head of the National Oil Corporation, Mustafa Sanalla, said on Tuesday.Sanalla said there were still militants present in the area of the terminals, which were closed on Thursday following an early morning attack by opponents of eastern-based Libyan commander Khalifa Haftar."We look to fight the fire first of all…
CNOOC Developing New Deep Sea Gas Block in South China Sea
China's offshore oil and gas producer CNOOC has started developing a new gas field in the South China Sea, the official Xinhua News Agency reported on Tuesday.The Lingshui 17-2 gas field is the first
Panama Imports Its First LNG Cargo
Panama has imported its first liquefied natural gas (LNG) cargo to commission the newly built $1 billion Costa Norte facility and power plant at Colon, expected to be a launch-pad for LNG trade across Central America.Many utilities in Central America and the Caribbean remain reliant on burning oil to generate electricity, but LNG offers a cleaner, cheaper and more efficient alternative.Shipping data shows the Engie-chartered Provalys tanker arrived last week…
Deutsche Bank Sells $1 Bln Ship Loan Portfolio
Deutsche Bank is selling a $1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday.Reuters reported last week that the sale of the portfolio was imminent, as the bank draws a line under sour investments in the sector and starts a fresh push in transport lending.Deutsche Bank said it was not exiting ship financing."Following this disposal and other derisking strategies we have implemented…
What Can Beijing Do if China-US Trade Row Worsens?
China and the United States sank into a deepening trade conflict that roiled financial markets Tuesday after U.S. President Donald Trump threatened to impose tariffs on an additional $200 billion of Chinese products, prompting Beijing to accuse Washington of starting a trade war.Trump said Monday his threat was retaliation for China's decision to raise tariffs on $50 billion of U.S. goods over the weekend, a move that itself was in response to additional U.S.
Nils van Vliet Appointed CEO of Railport Antwerp
Railport Antwerp, a joint initiative by Antwerp Port Authority, the Left Bank Development Corporation and the industry associations Essenscia Vlaanderen and VOKA-Alfaport, is to expand its activities.
Feedgas Flows into Sabine Pass LNG Export Plant Drop Again
Feedgas supplies into Cheniere Energy's Sabine Pass liquefied natural gas (LNG) export plant in Louisiana fell again after recovering briefly following a month-long maintenance shutdown affecting one of three production units, data showed on Tuesday.Input levels on the three pipelines serving the facility showed feed levels had fallen to 2,180 million cubic feet/day (mcf/day) on Tuesday after a fall and briefly recovering to a high of 2,860 mcf/day on Saturday.Current inflow levels suggest that
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