Ship Performance Has a 80/20 Rule
The shipping industry risks investing billions of dollars on vessel optimization services that fail to deliver on overall operational efficiency and performance due to a lack of understanding and appreciation of weather which accounts for 80 percent of the impact on vessel performance warns voyage intelligence and insight specialist StratumFive.As vessel performance optimization becomes increasingly more sophisticated…
New Rescue Vessel Delivered to Sentinel Marine
Aberdeen-headquartered operators of offshore support vessels Sentinel Marine said it has taken delivery of the latest vessel to join its fleet. The Bailey Sentinel, constructed in China, is now en route to Aberdeen and is due to arrive in early September. The new emergency response and rescue vessel (ERRV) will operate rescue and recovery services for a major North Sea oil field operator following sea trials.
Rolls-Royce Unveils Stabilizer for Ice Class Ships
The latest version of Rolls-Royce stabilization systems adds the potential for ice class ships to benefit from the company’s Stabilization-at-Rest (SAR) concept.The SAR system, incorporated to both the Aquarius and Neptune ranges of Rolls-Royce retractable stabilizers, employs active fin control technology and advanced hydrodynamic design to deliver higher levels of roll reduction when the vessel is at rest…
De-risking the FPSO Renaissance
Floating production, storage and offloading vessels (FPSOs) are in the ascendancy. The total FPSO market is now expected to grow to over $117 billion by 2024. A combination of factors, such as the recovered oil price and renewed interest in deeper, more marginal new reserves, have made these vessels the understandable choice for an industry that still remembers the travails of 2014.But nothing can be taken for granted. With an uptick in activity, operators need to be wary of supply-chain risks.
Jack-up Completes Major Crane Refit
Brave Tern, the 132-meter jack-up operated by Fred. Olsen Windcarrier AS, has completed a major crane refit at Damen Shiprepair Amsterdam.The main operation was the insertion of a 20-meter section into the main boom of the 800-tonne crane, allowing it to reach a height of 120 meters. This upgrade now allows it to install and maintain the next generation of wind turbines.The operation to insert the additional section took 30 days in total.
Maersk, IBM Say 94 Organizations have Joined Blockchain Platform
Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping.The industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy.Under its new strategy, which includes the creation of an industry-wide blockchain-based trading platfor
Great Lakes Limestone Trade Strong in July
Shipments of limestone on the Great Lakes totaled 3,985,544 tons in July, an increase of 3.1 percent compared to a year ago, the Lake Carriers’ Association reported. The trade also bettered the month’s 5-year average by 5.5 percent.Loadings from U.S. quarries totaled 3.142 million tons, a decrease equal to one cargo in a mid-sized laker. Shipments from Canadian quarries rose to 843,000 tons, an increase of 20 percent…
Italy Uncovers Massive Load of Hash in Ship's Fuel Tanks
Italian police said on Thursday they found 20 tonnes of hash worth as much as 200 million euros ($232 million) in the fuel tanks of a Panama-flagged ship that was…
Japan Spot LNG Contract Price Hits 5-month High
The average contract price for spot liquefied natural gas (LNG) cargoes for shipment to Japan last month hit a five-month high of $10.00 per million British thermal units (mmBtu), Japan's trade ministry data showed on Thursday.Asian spot LNG prices held around $10 last month as a heatwave gripped Japan and high temperatures swept across South Korea and parts of China, boosting cooling demand.The average…
Maritime Thought Leadership: Remi Eriksen, DNV GL
Remi Eriksen, Group President and CEO of DNV GL, has been on the job for nearly three years, taking over at arguably one of the more challenging and pivotal times in maritime history. We met with Eriksen recently in Athens, Greece, for his insights on the markets and DNV GL’s position going forward.While Remi Eriksen’s tenure at the top of DNV GL has coincided almost perfectly with one of the maritime industry’s deepest and longest slumps…
Khaydukov Named President of PAO Novoship
The Board of Directors of Russian tanker shipping company PAO Novoship has elected Alexey Khaydukov as the company’s new President.Khaydukov replaces the firm’s previous President, Yury Tsvetkov, who stepped down from his role on August 8, 2018, following his appointment as a Deputy Minister of Transport of Russia, Head of the Federal Agency for Maritime and River Transport.Prior to his appointment, Khaydukov was Managing Director of SCF Management Services (Novorossiysk) Ltd.
After Soybeans, EU Touts US LNG Imports to Woo Trump on Trade
The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive.In talks to urge Trump to drop hefty new tariffs last month, the EU's chief executive Jean-Claude Juncker agreed to work to increase imports of U.S. soybeans and LNG to the bloc.The EU has long…
Maritime Inspection Made Easy Using Digital Devices
A rigorous marine inspection system is vital for companies operating in Australian and Asian waters. The safety of vessels, maritime equipment and employees all depend on ongoing maintenance, following regulations and effective management. For organizations and firms with assets, equipment and staff working at sea, the need for high-end successful monitoring of conditions is a 24-hour, 365-day job.
CWT Solar Project in Port of Amsterdam
More than 41,000 solar panels will generate sustainable energy in the Port of Amsterdam for logistics services provider CWT. Spread across five locations, the panels…
K-Line Names Newly-Built LNGC For Jera “Enshu Maru”
Kawasaki Kisen Kaisha (“K” Line) and Tokyo Century Corporation held the naming ceremony for the newly-built liquefied natural gas (LNG) carrier for JERA Co at Sakaide…
Deep Casing Tools Re-enters Canada
Aberdeen-based oil field technology firm Deep Casing Tools (DCT), which specialises in the design and manufacture of casing and completion tools, has agreed a pact with a Canadian distributor…
SBM Offshore Signs up with SolstadFarstad for Normand Installer
Norwegian offshore shipping company Solstad Farstad has renewed its frame agreement with SBM Offshore for the charter of the construction support vessel (CSV) Normand…
Arkon Shipping Rolls-out New Chartering JV
German shipmanager Arkon Shipping has teamed up with a number of compatriot firms to form Arkon Allied Container (AAC), a new chartering joint venture.AAC was founded…
Vinalines Mulls USD 210mln IPO
Vietnam’s government is targeting to raise VND4.89 trillion ($210 million) from an initial public offering (IPO) of Vietnam National Shipping Lines (Vinalines) scheduled on September 5…
d’Amico International Sells, Leaseback MT High Loyalty
d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announced that its operating subsidiary d’Amico…
