China'a April Exports Stronger than Expected
China's exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.Imports in April also grew more robustly than anticipated, signalling China's domestic demand is holding up well, good news for policymakers looking to soften the blow from any trade shocks.China's April exports rose 12.9 percent from a year earlier…
Could US Sanctions Hit Iranian Crude Exports?
Oil prices are at more than three-year highs, driven by an expectation that renewed U.S. sanctions on Tehran over the country's nuclear program will disrupt Iranian crude flows.But without the Europe Union, or Iran's other big crude customers, joining the effort, as the EU did in 2012, it will be harder for Washington to hit Iran where it really hurts.U.S.
Poland Cuts Dependence on Russian Oil but at a Cost
Poland's imports of Russian oil last year fell to their lowest level since 2005, a central bank report published on Tuesday showed, though Warsaw's bid to diversify its energy imports also meant paying higher prices.Russian oil accounted for 76 percent of all oil purchases, down from 96 percent in 2012, as state-run refiners PKN Orlen and Lotos increased their purchases of oil from sources other than…
Great Lakes/Seaway Iron Ore Trade Behind 2017
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 5.5 million tons in April, a decrease of 6.3 percent compared to a year ago but nearly 15 percent ahead of the month’s five-year average, the Lake Carriers’ Association (LCA) reported.Shipments from U.S. Great Lakes ports in April were down 4.5 percent at 5.1 million tons, LCA said. The mine that shipped through Escanaba, Mich. has been permanently idled, meaning all the iron ore shipped to U.S.
Shell Awards Deepwater Installation Contract in GOM
In another sign that activity in the moribund offshore sector is starting to loosen, Jumbo said that it has won the installation contract for the Shell deep-water Vito development in the US Gulf of Mexico. The Vito development is located in the Mississippi Canyon, approximately 150 miles south of New Orleans in water depth of more than 4,000 feet. Jumbo’s installation contract involves the initial pre-lay of the mooring system as well as the subsequent tow and hook-up of the FPS.
Study Calls to Reduce Ship Speed for Arctic
In the Arctic, marine mammals such as belugas and bowhead whales rely on a quiet environment to communicate and forage. But as Arctic sea ice shrinks and shipping traffic increases…
DP World to Develop Egypt Port Terminal
A Memorandum of Understanding (MoU) agreed by DP World, Egypt’s Holding Company for Maritime and Land Transport and the Suez Canal Authority is aiming to develop…
Port of Amsterdam Introduces Bin2Barrel
In the port of Amsterdam the construction has started of a new facility that will convert non-recyclable plastic into fuel for the transport sector, which will cut down CO₂ emission by 57…
Navios Maritime Containers Acquires Three Containerships
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it agreed to acquire three containerships for a total purchase price of $117.25 million.
Diana Shipping Signs TC Contract for m/v Houston with SwissMarine
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels…
Glencore-QIA Halts Selling Rosneft Stake to China Energy Company
A consortium of Qatar Investment Authority (QIA) and Anglo–Swiss mining company Glencore has scrapped a deal to sell 14.16% stake in Rosneft to CEFC China Energy Company.
Port of Newcastle CEO Geoff Crowe Resigns
Port of Newcastle advises that Geoff Crowe, Chief Executive Officer, has informed the Board of his intention to resign, effective at the end of June. Geoff joined…
Danish Fleet Surpasses 20 million GT
The total gross tonnage of the Danish ship registry recently surpassed 20 million GT for the first time in history.Denmark, which has been steadily climbing the ranks as a shipping nation, is currently the world's 12th largest register.The fleet under Danish flag continues to grow as the country’s government maintains efforts to ensure conditions are attractive for the maritime industry, the Danish Maritime Authority (DMA) noted…
PSA Marine Orders LNG-fueled Harbor Tug
Wärtsilä said it has been contracted to design and equip one of PSA Marine (Pte) Ltd's newest harbor tugs. Operating on liquefied natural gas (LNG) fuel and incorporating fuel efficiency features, the harbor tug, which will be built by PaxOcean Shipyard, will be aligned with the maritime industry’s increasing emphasis on environmental impact. The order with Wärtsilä, booked in March 2018.The 28-meter long…
Capital Products Acquires M/T Anikitos
Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082…
New Beam Trawler Delivered
Dutch shipbuilder Damen has delivered the first new beam trawler to take to the North Sea in 12 years.Over the last 10 months, Damen Maaskant Shipyards Stellendam (Maaskant) has outfitted the 41-meter hull from stock. The vessel, designated UK 46, is for Hakvoort Brothers, based in Urk, the Netherlands. According to the builder, a key feature of the vessel is the installation of twin Optima nozzles manufactured by Damen Marine Components (DMC).
GE Engines Power USS Cincinnati
GE Marine Solutions' LM2500 marine engines power the U.S. Navy’s newest Independence class Littoral Combat Ship (LCS) USS Cincinnati (LCS 20), which was christened May 5 at the Austal USA shipyard in Mobile, Ala.Each of the ship’s two LM2500 engines produce over 29,500 horsepower, propelling the USS Cincinnati to speeds in excess of 40 knots or 46 miles per hour.“Our skilled and diverse workforce proudly…
Japanese Shipyards Ink Cooperation Agreement
Japanese shipbuilders Mitsui E&S Shipbuilding Co., Ltd. (MES) and Tsuneishi Shipbuilding Co., Ltd. announced they have signed a business cooperation agreement to partner in areas of commercial shipbuilding.The compatriot shipbuilders had announced in February 2018 they were discussing plans to partner, becoming the latest in a string of Japanese yards to team up to combat the industry downturn.Now…
Abu Dhabi Ports Signs a 30-year Deal with MSC to Build Terminal
Abu Dhabi Ports has signed a 30-year concession agreement with Mediterranean Shipping Company (MSC) to build a new container terminal at its Khalifa Port.Abu Dhabi, the capital of the United Arab Emirates (UAE), has spent billions developing the port, which opened in 2012, as part of ongoing efforts to diversify its oil-rich economy.Khalifa Port is on a man-made island roughly half-way between the centres of Abu Dhabi and Dubai, and about 60 kilometres (37 miles) south from Dubai’s huge Jebel Al
Maritime Training Budgets Increasing -MarTID Report
More maritime operators increased their training budgets from 2016 to 2017 than decreased them, according to the Maritime Training Insights Database (MarTID) 2018 Training Practices Report.When compared to 2016, around 40 percent of survey respondents indicated that their training budget had increased in 2017, while just 14 percent reported their training budgets had decreased. The median budget increase…
