Interview: Admiral Karl Schultz, Commandant, United States Coast Guard
Maritime Reporter & Engineering News was offered the opportunity to interview Admiral Karl Schultz, the 26th Commandant in the history of the United States Coast Guard, in his office in Washington, DC. Just five months into his tenure, his plate is predictably full with a number of challenges, including: Attracting and retaining future U.S. Coast Guard personnel; addressing a number of assymetric threats…
Prelude FLNG to Start Producing at End-2018
Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she told Reuters in an emailed statement.Prelude - which will process natural…
Baltic Index Snaps 4-day Losing Streak
The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, marked its first gain in five days on Tuesday, helped by firmer rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 34 points, or 2.8 percent, to 1,237 points.The capesize index snapped four straight sessions of losses and gained 6.2 percent, or 101 points, to 1,739 points.
MBL's Fuels Assurance Platform now being tested
Maritime Blockchain Labs has announced the real-world testing phase for technology solution that enhances traceability and trust in bunker fuel supply chain. Maritime Blockchain Labs (MBL), a partnership set up between Lloyd’s Register Foundation and BLOC to explore the use of blockchain for the assurance and safety of critical infrastructure and drive new business models for the global maritime industry…
Rising Ship Supply Eases LNG Charter Rates
Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported.
ABB Enables Remotely Operated Ferry Trial
Ice-class passenger ferry Suomenlinna II was remotely piloted through test area near Helsinki harbor, proving that human oversight of vessels from anywhere is achievable with today’s technologies.With this historic trial in the Finnish capital’s port last week, ABB and Helsinki City Transport took the next step in autonomous shipping. In the remote trial, the world’s first for an existing passenger ferry…
Iran Pushes Back on U.S. Sanctions
If Iran can not export oil then no country will export oil from the Gulf - Iran president.America should know that if Iran can not export oil then no country will export oil from the Gulf, Iranian President Hassan Rouhani said on Tuesday in a speech broadcast live on state TV.U.S. officials have said they intend to reduce Iran's oil exports to zero in an effort to curb the Islamic Republic's missile program and regional influence.Reporting By Babak Dehghanpisheh
Fitch Ratings: Demand Risks Weigh on Global Shipping Sector Outlook
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings says. Higher fuel costs and sulphur regulation will also put pressure on shippers.Partly offsetting an unfavourable environment are emerging signs of better capacity management by shipping companies, which is key to a sustainable balance and freight rates that support consistent profitability.
Avic Dingheng Shipyard Delivers LNG Vessel to Sirius Shipping
Swedish shipping company Sirius Shipping Sirius Shipping has taken delivery of its first 7999-dwt LNG-ready oil/chemical tanker Saturnus from the Avic Dingheng…
DHT Holdings Bets on Scrubbers
Bermuda-based crude oil tanker company DHT Holdings plans to fit exhaust gas cleaning systems on two thirds of its very large crude carriers (VLCCs) to comply with…
Siemens Gamesa Firms Belgian Offshore Wind Project
Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) received the order for the 487 MW SeaMade offshore wind power project in Belgium from customer…
Enquest Acquires Remaining Stake in Magnus
United Kingdom-based petroleum exploration and production company Enquest said it had completed the acquisition of the remaining 75% stake in Magnus, an additional…
Swiss Climate EcoCare, Korean Register MoU for IMO DCS Services
The Classification Society Korean Register (KR) and Swiss Climate EcoCare GmbH has signed a memorandum of understanding (MOU) to provide enhanced International Maritime…
Ardmore Shipping Refinances Three Vessels
Bermuda-based product and chemical tankers owner Ardmore Shipping Corporation announced that it has signed binding agreements for the refinancing of three vessels.The…
Regal Princess to Become Second MedallionClass Ship
Carnival Corporation-owned Princess Cruises said that Regal Princess will be the second ship in its fleet to offer the Princess Medallion wearable technology.Regal…
Qatar Quits OPEC to Focus on LNG
Qatar said Monday that it will leave the oil cartel OPEC on January 1 after nearly 60 years. The announcement was made in a series of tweets.Saad Sherida Al-Kaabi…
Hyundai Merchant Marine to Say Good Bye to 2M Alliance?
South Korea's largest shipping firm Hyundai Merchant Marine (HMM) is likely to part ways with the 2M Alliance which will expire in April 2020 and join a new ocean…
Alfa Laval Completes Tests for USCG Type Approval
Swedish engineering group Alfa Laval has successfully completed additional tests at the Norwegian Institute for Water Research (NIVA) to verify the biological efficacy…
Global LNG to be Major Part of Bunker Fuel Market
Liquefied natural gas (LNG) ships is expected to be the major application segment in the global LNG as a bunker fuel market.According to a market research report…
Hoegh LNG Partners Appoints New CFO
The floating liquefied natural gas (LNG) company Höegh LNG Holdings announced that Håvard Furu is appointed as new Chief Financial Officer (CFO) of Höegh LNG AS…