Ideol, STX to Develop Next-Generation Offshore Substations
Ideol and STX Europe Offshore Energy, the well-known EPCIM supplier of substations to the bottom-fixed offshore wind industry, announce the development of a breakthrough floating substation.
Diana Shipping TC Contract for P. S. Palios with Koch
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels…
UN Seeks Traders' Help Enforcing North Korea Sanctions
A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons.Under the restrictions…
#BTC100 History
In 1975, tugboats Bouchard Boys and Evening Light enter service, both at 3,900-hp. It was also during this year that Bouchard Transportation Co. formed its long-standing current relationship with Caddell Dry Dock & Repair Co.—a partnership--to this day--is still based on trust, loyalty and family heritage. The July 2018 edition of Maritime Reporter & Engineering News will feature a special “Bouchard Transportation Co. Celebrates 100 Years” magazine.
Valero Boosts Imports of Venezuelan Oil as Sanctions Loom
U.S. refiner Valero Energy Corp this year boosted its imports of Venezuelan crude ahead of U.S. sanctions over the country's disputed presidential election and as other customers received less of the OPEC-member's exports, according to Thomson Reuters trade flows data.Venezuelan oil production has tumbled to a multi-decade low this year, cutting shipments to buyers in the United States and elsewhere and worsening a severe economic recession.
IMX '18 Opens in St. Louis
The Inland Marine Expo -- IMX 2018 -- has opened in St. Louis, running May 21-24. Pictured here are (l to r): Tyler Vawter and Keith Larson of Fireboy-Xintex, looking to talk fire safety with the inland marine community. New Wave Media has a full crew on hand for the show, representing Marine News, Maritime Reporter & Engineering News, Maritime Logisticas Professional and MarineLink.com.
German Shipowners Get Back to Basics
The situation for the shipping companies based in Germany has been, much like the rest of the world in 2017, mostly tight. Currently, the German shipping companies are undergoing changes against this background. They are concentrating more and more on their core competences. Maritime Reporter & Engineering News' man in Germany, Peter Pospiech, recently talked to Alfred Hartmann, President of the VDR (Association of German Shipowners)…
Interview: Darren Larkins - CEO, SSI
SSI CEO Darren Larkins, together with President & CTO Denis Morais, acquired ownership of the shipbuilding software development company from founder Rolf Oetter effective March 1, 2018. The two longtime employees have been managing SSI for the past seven years and have been entrenched in all aspects of the company’s day-to-day operations for even longer. Larkins, SSI’s fifth employee in 1999, said…
Inmarsat Faces US, Chinese Competition in Maritime Safety
Britain's Inmarsat will lose its monopoly in maritime safety communications after the International Maritime Organization gave Iridium and China's BeiDou Navigation Satellite System the green light to develop competing systems.Inmarsat's shares fell as much as 14 percent after U.S.-based Iridium said late Monday its network had been recognized as a provider of Global Maritime Distress & Safety System (GMDSS).The stock was trading down 9 percent at 1345 GMT, while Iridium was up 4.7 percent in Ne
Grainger Named IMCA President and Chairman
Trade association International Marine Contractors Association (IMCA) announced that Iain Grainger is its new President and Chairman of the Board. Grainger, Vice President Commercial at McDermott, takes over from Harke Jan Meek.Pieter Heerema from Allseas becomes the new Vice President.
Mappers Look to Chart World's Ocean Floor by 2030
Using data collected from underwater drones, merchant ships, fishing boats and even explorers, a new scientific project aims to map the ocean floor by 2030 and solve one of the world’s enduring mysteries.With 190 million square km (73 million square miles) of water - or about 93 percent of the world's oceans with a depth of over 200 meters (650 feet) - yet to be charted, the initiative is ambitious.Satinder Bindra…
New Generation of RoRo Vessels Unveiled
Naval architect KNUD E. HANSEN reports it has signed a contract with Chinese shipbuilder Nanjing Jinling Shipyard to develop the basic design of a number of large RoRo vessels, based on a Grimaldi/KNUD E. HANSEN concept.The new vessels, the first of which is expected to be delivered in 2020, will have a length of 238 meters, a beam of 34 meters and a gross tonnage of 64,000 metric tons. Each will be able to transport more than 7…
Gunvor, Oceangold and Maas Capital Form Tanker JV
A new ship holding company has been formed through a joint venture agreement between physical energy trader Gunvor Group, ship management company Oceangold Tankers and investor Maas Capital.The three partners hold an equal share in the new company, ClearOcean Tankers, which has been incorporated in Cyprus.The new joint venture company has entered into shipbuilding contracts for six vessels from South Korean shipyards, including four MR2 product tankers from STX Offshore & Shipbuilding Co.
Muted Capesize Activity Weighs on Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the sixth straight session on Tuesday, dragged down by lower demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 40 points, or 3.2 percent, at 1,199 points.The capesize index lost 103 points, or 5.3 percent, at 1,854 points."Capesize average earnings declined to about $13,900 per day due to reduced inquiries
Norway Rejects Plan for Fish Farming on 'World's Largest Ship'
Norway's Directorate of Fisheries has rejected Pure Atlantic's application for 45 salmon farming development licenses, arguing that the plan did not bring significant innovation to the industry, it said in a letter dated May 16.Pure Atlantic had planned to construct what would have been the world's largest ship, some 500 meters (546 yards) long and 90 meters (98 yards) wide, to house a giant fish farm off the coast of Norway.Development licenses are part of an initiative by authorities to spur g
Indian Fishermen Hail US Supreme Court Decision to Hear World Bank Suit
Farmers and fishermen in western India have welcomed a U.S. Supreme Court decision to hear their lawsuit against a World Bank agency, which financed a power plant they blame for damaging the environment and their livelihoods.The U.S. Supreme Court on Monday agreed to hear an appeal by the villagers of a lower court ruling that the International Finance Corp (IFC) was immune from such lawsuits under…
US LNG Projects Buoyed by China Import Talks
China's interest in reducing its trade surplus with United States through increased energy imports could advance plans for U.S. liquefied natural gas (LNG) plants, said energy executives involved in developing new facilities.The White House and China on Saturday said a U.S. trade team would travel to China to explore new energy and agricultural deals. The joint communique lowered trade tensions, lifting stock markets in Asia and the United States on Monday.There are over two dozen proposed U.S.
US Sorghum Ship Switches Destination from Spain Back to Asia
The RB Eden vessel carrying 70,000 tonnes of U.S. sorghum turned around just before reaching the Spanish port of Cartagena and is now heading to Singapore, Thomson…
China and Shifting Seaborne Iron Ore Dynamics
The seaborne iron ore market appears to be in something of a sweet spot currently, with largely steady demand and prices that have been flatlining for the past couple of months. Of course, another way of saying that a market is enjoying relatively stable and good times is that it's boring, but in iron ore there is plenty of action bubbling beneath the seemingly calm exterior. It's not so much that iron ore prices or volumes are expected to shift dramatically in the coming months…
Obituary: Hans Gerhard Kahn, Founder, Jumbo
Jumbo, the maritime heavy lift company, announced that its founding father, Hans Gerhard Kahn, passed away at the age of 95 (1922-2018). Kahn passed away on Friday 18 May in Caesarea, Israel.
