Vigor Lays Keel for Next Gen Landing Craft
Representatives from the U.S. Army and federal and local elected officials joined Vigor for a keel laying ceremony, celebrating the first milestone in the construction of the Army’s next generation landing craft, the Maneuver Support Vessel (Light) or MSV(L).The nearly billion dollar contract to build MSV(L) was awarded to Vigor in October, 2017. The new design, developed in partnership with BMT, improves the capabilities of the current LCM-8 and provides the optimal combination of performance…
Russia Detains Two N.Korean Vessels After Attack
Russian border guards detained two North Korean racketeering vessels in Russian territorial waters in the Sea of Japan after one of them attacked a Russian patrol ship…
Baltic Index Falls on Weaker Rates Across Vessels
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended its losses for the ninth consecutive session on Tuesday due to lower demand across vessel segments.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 28 points, or 1.2%, to 2,283 points.* The capesize index dropped 82 points, or 1.8%, to 4,456 points.* Average daily earnings for capesizes…
Sovcomflot CEO to Switch to Chairman
Sergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control of Sovcomflot and take over as chairman of the company's board, two of the sources said.It was not immediately clear why Frank, 59, was moving position.
GPA Plans Savannah Port Capacity Expansion
The Georgia Ports Authority (GPA) has plans for a new container port on Hutchinson Island to increase the capacity of the Port of Savannah, Georgia, USA. The planned expansion will double the port’s annual capacity from 5.5 million TEUs to 11 million TEUs and the facility will be able to handle 2.5 million TEUs of cargo annually The new container port occupy a 200-acre area directly opposite Ocean…
Middle East Risks Keep Oil Prices High
Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high and that stocks are under pressure. Equity market losses have not been large but investors are continuing to support ‘safer’ assets such as gold, for which treasury prices are rising.Brent crude prices fell 1.78% to $67.79 per barrel in Asia today (Tuesday…
BP Awards Caspian ACG Contracts
The upstream consortium, led by UK enerrgy giant major BP, announced that the Azeri-Central-East (ACE) project is moving forward at pace with the awards of key contracts.BP…
Senvion to Sell Assets to Siemens Gamesa
Insolvent German wind turbine manufacturer Senvion is in exclusive talks with Siemens Gamesa (SGRE) over the sale of a substantial part of its business.The Germany…
NEOT Gets First LNG Bunkering from Kairos
Nauticor-operated LNG bunker supply vessel Kairos completed the first LNG bunkering operation in the port of Södertälje, Sweden, delivering 150 tons of LNG.Finnish…
Hurtigruten Intros eSled Snowmobiles
Norwegian shipping company Hurtigruten has announced a partnership between Hurtigruten’s land-based adventure travel company Hurtigruten Svalbard, and the Finnish start-up company…
Cargill, Maersk Tankers to Run Joint Pool
Commodities trader Cargill and shipowner Maersk Tankers aim to build a joint Medium Range (MR) tanker pool with more vessels as they seek to cut emissions."The strategic…
Evergreen Orders Ten Ships
Taiwanese shipping line Evergreen has confirmed its plans to build a total of ten 23,000 TEU containerships.According to a stock exchange filing, the new vessels…
ABS, Keppel to Build Smart Rigs
In an Industry first, the provider of classification services to the offshore industry ABS partnered with Keppel Offshore & Marine (Keppel O&M) in developing the…
First Hybrid Cruise Ship Sails Northwest Passage
Norwegian cruise, ferry and cargo operator Hurtigruten announced that its new expedition cruise ship MS Roald Amundsen became the first battery-hybrid powered ship…
SGRE Confirms Taiwan Offshore Wind Factory
Siemens Gamesa Renewable Energy (SGRE) has held a groundbreaking ceremony for a nacelle assembly facility in the Port of Taichung in Taiwan that will be its first…
GOGL Ups Investment in Singapore Marine
Norway based dry bulk shipping company Golden Ocean Group (GOGL) is planning to make a further investment in Singapore Marine Pte Ltd in connection with the acquisition…
Langh Ship Going Green
Finnish shipping company Langh Ship said that it takes environmental matters into account in their day-to-day operations, and efforts to improve the state of the…
Oil Price Spike after Saudi Attack Temporary
The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels…
GPA to Double Capacity, Draws $5Bln Investment
The Georgia Ports Authority (GPA) has revealed plans to double capacity at Garden City Terminal to 11 million twenty-foot equivalent container units per year.In Fiscal Year 2019…
Cosco Shipping Ports Names Feng Boming as Chairman
Cosco Shipping Ports (CSP), the biggest terminal operator in the world, has appointed Feng Boming as its new chairman, replacing Zhang Wei who has quit the position.Feng Boming…
