Nakilat Grows Profits 9%
Nakilat announced its financial results for the first half of the year ended June 30, 2018, with the company achieving a net profit of QR 445 million compared to QR 409 million during the same period in 2017, an increase of 9 percent.The company observed positive developments despite the challenging market conditions in the maritime sector over the past year. Nakilat continued to pursue its long-term…
Shipping’s Half Year Report: Extra Classes Needed?
With the industry hoping for better “grades” after the “effort” of recent years, this week’s Analysis updates our half year shipping report showing a ClarkSea Index up 9% y-o-y but still below trend since the financial crisis (see Graph of the Week). After comments of “must do better” and “showing potential” in recent years, do the statistics suggest “extra classes” will again be needed over the summer holidays?Progress But No Time To Relax!Our ClarkSea Index (comprising tankers…
GTT Bags LNG Carrier Tank Design Order
GTT has received a new order from South Korean shipbuilder Samsung Heavy Industries (SHI) concerning the tank design of a new 174,000 m3 liquefied natural gas (LNG) carrier…
Vigor Delivers Third Passenger Ferry to San Francisco
Argo is now in operation on the Alameda/Oakland routes in San Francisco.Vigor recently delivered Argo, the third of four all aluminum, 400 passenger ferries to the…
Actisense Expands Its PRO Range
Actisense has officially launched the latest addition to its PRO range at Seawork International in Southampton.Reaching out to the world’s commercial marine market, Actisense in Poole has officially launched the PRO-MUX-1 at the 2018 Seawork International Exhibition commercial maritime exhibition and conference in Southampton. The PRO-MUX-1 is a Professional Multiplexer designed to provide isolation on all inputs and outputs so that connected devices safely avoid hazardous ground loops…
Houlder Joins Sir David Attenborough Celebrations
Naval architect and marine engineering firm Houlder has played a key role in the development of the U.K.’s new polar research vessel, RRS Sir David Attenborough, since it was first conceived by the British Antarctic Survey.CEO Rupert Hare will join members of the project team as hull number 1390, comprising 10,000t of steel, is launched at Cammell Laird Shipyard on July 14.As experts in ship construction…
Interview: Natasa Pilides, Cyprus Deputy Minister of Shipping
Natasa Pilides, Cyprus Deputy Minister of Shipping, has held this newly created political post for only three months, but already she has big plans to facilitate the growth of her country’s stature in world maritime circles. In Athens at Posidonia we sat with Pilides to discuss her plans for the development of Cyprus’ blue economy.While dubbed “deputy” minister, make no mistake that Natasa Pilides is in charge…
China Will Hit Back After New US Tariffs
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S.
MAN Okays Chevron's Taro Cylinder Lubricants
Following field testing, Chevron Marine Lubricants have been issued with two NOLs (No Objection Letters) from equipment manufacturer MAN Energy Solutions, for the use of three of its Taro cylinder oils with itscylinder oil mixing system, ACOM.“Receiving the NOLS from Man Energy Solutions (formerly MAN Diesel & Turbo), demonstrates the impressive performance of our products in the field. The Taro range of cylinder lubricants provides solutions for the varied range of engines…
Damen Delivers Tug Pair to Smit Lamnalco
Netherlands based shipbuilder Damen said it has delivered two of four ASD 3212 tugs to towage and related marine services’ company Smit Lamnalco.Arriving in Oman on July 10, the two new tugs, each with a bollard pull of 80 metric tons, will be directly deployed at a Oman India Fertilizer Company S.A.O.C (OMIFCO) dedicated terminal in the Port of Sur and will be owned and operated by the joint venture Bahwan Lamnalco Company (BLC).In November 2017…
US Plans Tariffs on Extra $200 Bln of Chinese Imports
The United States has decided to impose tariffs on $200 billion worth of imports from China after efforts to negotiate a solution to the trade dispute failed to reach an agreement, senior administration officials said on Tuesday.U.S. Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 percent on the additional Chinese imports.The move would be the latest in the…
Inpex to Ship First Ichthys LNG Cargo by End of September
Inpex said it expects to ship first cargo from its Ichthys liquefied natural gas (LNG) project in Australia by the end of September after safety issues have been resolved, maintaining an earlier schedule.Australian regulators had discovered safety issuess on the Ichthys offshore gas platform and was considering enforcement action.The Inpex-operated Ichthys LNG project carried out an inspection mainly…
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture…
Oil Falls After Libyan Ports Reopen, Trump Tariff Threat
Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.The spectre of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world's biggest economies intensified.Brent crude fell $2.10, or 2.7 percent, to a low of $76.76 before recovering slightly to $77.20, down $1.66, by 1325 GMT.
Corvus Energy Expands
Corvus Energy, manufacturer of energy storage systems for maritime applications, announced two production and R&D expansion plans underway in Canada and Norway. The new battery factories will be more modern and more automated than other similar factories, result in eight times the production capacity compared to today.First, the Corvus Energy factory in the Vancouver, Canada region will be expanded and upgraded to house a 200 MWh semi-automated battery production facility.
Maritime Distress Beacon Gains North American Approval
Orolia’s McMurdo SmartFind G8 AIS Emergency Position-Indicating Radio Beacon (EPIRB) has been approved by the U.S. Federal Communications Commission (FCC) and Innovation, Science and Economic Development (ISED) Canada.The world’s first EPIRB to contain both the international 406 MHz alert frequency and the localized rescue power of the Automatic Identification System (AIS), the McMurdo SmartFind G8 AIS is now ready to order for leisure and commercial maritime use across the U.S.
New Tool Enables Optimum Vessel Speeds
Diesel power specialist Royston has developed a special ecospeed analysis capability as part of its enginei electronic fuel management system (EFMS) to enable ship operators to identify and maintain optimum vessel speeds for efficient fuel usage.Devised with marine engineering specialists from Newcastle University, Royston has developed a new ecospeed algorithm based on speed modeling and an analysis of vessel operating data…
ABB Wins Order for World's Biggest Offshore Wind Farm
ABB has won orders worth more than $150 million from Danish energy company Ørsted to supply technology to transmit wind energy from the 1,400 megawatt (MW) Hornsea Project Two, slated to be the world's largest offshore wind farm.The orders were booked in the second quarter of 2018 and are the first tranche of a global five year frame agreement for the supply of electrical and automation equipment for offshore and onshore wind power connection and integration to the grid…
Harren & Partner Buys Offshore Construction Vessel
Bremen-based shipping company Harren & Partner is looking to grow its offshore salvage business with the purchase of the offshore construction vessel MV Blue Giant from English operator OIG Group.“Although the oil markets are currently still recovering, we have deliberately opted for this investment despite its counter-cyclical nature. Alongside our classic offshore activities, we also wish to further strengthen our position in attractive niche markets such as the salvage business…
Multraship Continues Fleet Growth
Towage and salvage specialist Multraship says it is continuing to grow its fleet with a number of new additions to its varied range of vessels.On July 7, the 453-gt firefighting tug Multratug 31 was christened at Terneuzen in the Netherlands. The 83-ton bollard-pull vessel was delivered in 2017.Multraship managing director, Leendert Muller, said, “We are operating in a highly competitive market, employing all our resources across a wide range of different sectors.
