Singapore Awards Another $1.1 Bln for Mega-port Project
Singapore on Wednesday announced a $1.1 billion plan to expand and modernize its port, the world's second-biggest, but which is in fierce competition with several Chinese harbors including Shanghai, Shenzhen and Guangzhou.The Maritime and Port Authority of Singapore (MPA) said it has awarded a project worth S$1.46 billion ($1.10 billion) for the second phase of its Tuas Terminal port development to a joint venture of firms, including Korea's Hyundai Engineering and Construction.Other companies i
Singapore's Bunker Market Rallies
The Singapore fuel oil market has rallied this week as inventories have dropped at the same time that some supplies in the region do not meet the standards for use as shipping fuel, further reducing the amount of supply available, five trade sources said.Cash premiums for 380-centistoke fuel oil, which is primarily sold for ship fuel, known as bunker fuel, have soared this week to the highest since May 2017.
Eni Staying in Cyprus Despite Island's Standoff with Turkey
Italy's Eni will not relinquish its interests in Cyprus, its CEO said on Wednesday, as an uneasy standoff between Turkey and the Mediterranean island lingered over…
Yacht Manager Aquited of Manslaughter Charges
The director of a yacht management firm was cleared of manslaughter charges bought on by the death of four sailors in 2014.Four U.K. men – two in their twenties…
Crooker Named VP at Ingalls Shipbuilding
Eric Crooker has been promoted to vice president of contracts and pricing for Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division.Effective immediately, Crooker will have overall responsibility for contracts, estimating and pricing, and export/import licensing and compliance for the Ingalls shipyard and will report to Tom Stiehle, Ingalls’ vice president, business management, and chief financial officer.Crooker succeeds Don Perkins…
Fast Ferry Launched for Angolan Transport Ministry
In a ceremony held at Damen Shipyards Singapore on April 19, His Excellency, Dr. Augusto da Silva Tomás, Minister of Transport for the Republic of Angola officially launched the new Damen Fast RoPax Ferry 4812 ordered by the Ministerio dos Transportes through IMPA (Instituto Marítimo e Portuário de Angola).The vessel will be operated by TMA Express (Transporte Marítimo de Angola) and operate on Angola’s Atlantic coastline between the capital Luanda and Cabinda…
Maersk to Trial AI-powered Situational Awareness Technology
Danish shipping giant A.P. Moller-Maersk will be the first in the world to trial artificial intelligence (AI) powered perception and situational awareness technology on a containership.Under a deal signed with Boston-based Sea Machines Robotics, Maersk will install computer vision, Light Detection and Ranging (LiDAR) and perception software aboard one of its new-build Winter Palace ice-class containerships.Sea Machines said its solution uses AI to improve at-sea situational awareness…
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Each year the August edition of Marine News magazine, the leading voice in the North American workboat market, features the very best 100 leaders and innovators, including workboat owners and operators, builders, OEMs and repairers, and product and service providers.This year's MN100 edition application portal is live and open. Participation is free, but to be considered you must apply at http://mn100.maritimemagazine.com/.
DNV GL Develops Offshore Safety Guidance for Greek Regulator
DNV GL said it has completed a workscope with the European Bank of Reconstruction and Development (EBRD), under funding provided by the EU, to develop guidance for…
Damen's New Harbor Tug Kicks-off EU Tour
The first of Damen’s new RSD 2513 harbor tugs is kicking-off an introduction tour of European ports with visits to some of Italy’s most important ports plus the…
Wärtsilä Signs MoU to Promote Maritime Technologies in Singapore
Wärtsilä has partnered with the Maritime and Port Authority of Singapore (MPA) to promote maritime innovation and R&D. The partnership covers four different streams: digital acceleration, cyber-physical security, intelligent vessel and port operations. Wärtsilä and MPA have also agreed to support and leverage start-ups and small and medium enterprises in Singapore in these four streams.“This partnership with MPA is a great example of how combining digitalization ecosystems thinking…
Sembcorp Marine Outlook Subdued on Q1 Profit Slump
Singaporean rig builder Sembcorp Marine Ltd said on Wednesday first-quarter profit fell 86 percent, and signaled a subdued outlook for orders and business volumes.Sembcorp Marine said profit came in at S$5.3 million ($4 million) for the three-month period ended March, compared with S$37 million in the same period a year ago.The year-ago profit was boosted by an one-off gain from the disposal of Sembcorp…
Cargo Ship Collides with Dock in Rosario
A cargo ship collided with a dock on the Parana River in Argentina's grains hub of Rosario on Wednesday, causing a slowdown of activity at terminal 6 in the port…
Subsea 7: Offer Could Change if McDermott Cooperates
Norwegian offshore oil services firm Subsea 7 is open to potentially sweetening its $2 billion offer for McDermott if the U.S. company would work with it to identify additional benefits of a deal…
Meyer Turku Delivers for TUI Cruises
TUI Cruises’ new 315 m flagship was delivered today from Finnish shipbuilder Meyer Turku.The fifth Mein Schiff cruise ship to be built by Meyer Turku for German owner TUI Cruises, the new Mein Schiff 1 is based on a new design created as an evolution from the existing Mein Schiff series.The builder’s architecture and engineering team, working together with TUI Cruises and its architects, used the previously…
Keppel to Deliver SE Asia's First LNG-powered Tug
Singapore-based Keppel Corp said on Wednesday its offshore rig-building unit is on track to deliver in May what the shipbuilder said will be the first tugboat in…
Euronav Freight Rates Sag in Challenging Market Conditions
Belgian tanker operator Euronav's average spot rates for its very large crude carriers (VLCCs) fell 53.8 percent to $18,725 per day in the first quarter, as challenging…
Glosten Taps Fanberg as President
Seattle-based naval architecture and marine engineering consultancy Glosten has appointed Morgan Fanberg, PE as president.Fanberg, who has over two decades of experience with the firm, will succeed Glosten’s fifth president, John Springer III, PE.Fanberg has led Glosten’s Marine Engineering Group since 2009 and was instrumental in growing the firm’s mechanical capabilities and leading the development of the firm’s Electrical Engineering Group.
EPA Announces Funding to Reduce Diesel Emissions
Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to…
Baltic Exchange Launches Escrow Service for Vessel Sales
The Baltic Exchange announced it will launch an Escrow Service for its members to hold deposits for ship sale transactions.The paid-for service will be available from May 2018 for use in transactions where the buyer of the vessel is a Baltic Exchange member. The service will cost $5,000 per side and is likely to be extended to disputes related payments, the Baltic Exchange said.The Escrow Service will…
