The Tanker Market: 2019 and Beyond
Late 2018 saw the tanker market bubble upwards through late November, with daily vessel hires moving in the direction of, though not yet reaching levels not seen since late 2014-2015, when oil prices were in freefall and inventories building to the brim. A few pundits have suggested that we are seeing a “mini 2014” where lowered oil prices are coaxing another inventory build which would drive tanker capacity utilization, and per diem freight inflows, higher.
Technology: New FiFi Simulator from Kongsberg Digital
Kongsberg Digital unveiled an innovative new simulator solution for training officers and crew in advanced firefighting. K-Sim Safety offers high fidelity simulation covering all aspects of fire safety. K-Sim Safety contributes to reducing the impact of fire on board as well as planning strategies and tactics to control fire in various parts of the ship, enabling a safer and more effective response…
Fast Support Vessel Delivered for SEACOR
Louisiana shipbuilder Gulf Craft has delivered the third vessel in a series of new class monohull fast support vessels (FSV) for SEACOR Marine.According to designer Incat Crowther, the vessel Libby L. McCall advances the traditional offshore support vessel model and offers a more cost efficient, comfortable, flexible, and safe option to helicopter transportation.The vessel features redundancy to mitigate against down time or loss of functionality due to mechanical complications.
Inland River Cruising: 2019 Will Be Busy
One year ago, we reported on vacation river cruising, presenting an industry mostly on the optimistic side of growth and expansion for 2018. This year’s review is more geographically limited – to the Mississippi River, heartland cruises centered among New Orleans, Memphis, St. Louis and St. Paul – but with links important for a lot of smaller cities in between.Big picture:This industry is strong, at…
Offshore Upswing: CNOOC Spend Highest Since 2014
China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10.3 billion to $11.8 billion) on exploration and production, CNOOC said in a press release on Wednesday, compared…
IMO 2020: Fujairah Tightens Exhaust Rules Ahead of 2020
Key Middle East oil terminal bans open-loop scrubbersFujairah in the United Arab Emirates has become the latest major port to ban a type of fuel exhaust cleaning…
Carbon Trust to Make Offshore Wind Vessels Greener
The Carbon Trust's Offshore Wind Accelerator (OWA) issued a Request for Information (RFI) on the potential to reduce emissions and fuel consumption in offshore vessels.
Offshore Drilling Market to Reach $152.47B by 2026
Global offshore drilling market accounted for $79.53 billion in 2017 and is expected to reach $152.47 billion by 2026 growing at a CAGR of 7.5%.Some of the important…
BV Appoints de Tugny EVP
Bureau Veritas has appointed Matthieu de Tugny as Executive Vice-President, Bureau Veritas Group to lead the Marine & Offshore Division (M&O).He will be a member…
US Shutdown Impacts Shipping: North P&I Club
US Coast Guard and other federal agencies are operating at a reduced capacity following US government shutdown, said North of England Protecting and Indemnity Association…
Pilbara Ports Hits Single-Tide Record Tonnage
Australia's Pilbara Ports Authority has achieved a new record tonnage on a single tide at the Port of Port Hedland.On 15 January 2019, 10 vessels departed the port in convoy carrying a total of 1…
New IJmuiden Sea Lock Gets Gates
The first of a total of three lock gates for the new sea lock has arrived at IJmuiden harbour in the Dutch province of North Holland.According to Port of Amsterdam Authority…
Eagle Bulk Gets $208M Credit Facility
Connecticut-headquartered Eagle Bulk Shipping said that its wholly-owned subsidiary Eagle Bulk Ultraco has received a loan commitment from a consortium of banks…
New Jersey Opens Offshore Wind Tax Credit Program
The New Jersey Economic Development Authority (NJEDA) announced that companies making a capital investment in offshore wind-related facilities in New Jersey can…
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