Holvik joins Thrustmaster
Thrustmaster of Texas acquired the ICON Dynamic Positioning business from Rolls Royce earlier this year, a DP product addition to the Thrustmaster product portfolio. In addition to the rights to produce and sell future units of the DP products, Thrustmaster also has responsibility for the maintenance, service and upgrades of existing DP systems presently in operation. To support this addition, Thrustmaster…
Baltic Index Snaps 10-day Losing Streak
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Tuesday after ten straight sessions of losses as rates for capesize vessels jumped.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was up 9 points, or 0.7%, at 1,354 points.* The capesize index climbed 92 points, or 3.8%, to 2,485.* Average daily earnings for capesizes…
EU Invests in Border Security, Coast Guard
The European Union Council officially adopted the Commission's proposal to reinforce the European Border and Coast Guard, an agency that will acquire its own equipment, such as vessels, planes and vehicles, a will have a standing corps of 10,000 border guards. The move was announced to respond to the challenges facing Europe in managing migration and its external borders.“Today the European Union has achieved an ambitious task of transforming the EU border agency…
Containership Fires
Incidents involving container ships, although not new, have made the news much more frequently of late. In 2011 the Container Incident Notification System (CINS) was established to allow container ship owners to self-report incidents that might be of concern the other members of the group, and today CINS has 17 vessel owner members.The cases of the Yantian Express, Maersk Honam, MSC Flaminia, MSC Daniela, are some of the most recent examples of container ship fires.
For Ship Recycling, Grieg (Goes) Green
In May 2014 National Geographic wrote an in-depth article on shipbreaking operations in Bangladesh where they listed shipbreaking as one of the deadliest professions in the world. The images from these shipyards are well circulated among professionals in the shipping industry. Individuals without personal protective equipment cutting and grinding into a ship that was haphazardly beached and torn asunder by unskilled laborers.
Global Offshore Wind Market Grows 30%
The global offshore wind market grew nearly 30% per year between 2010 and 2018, benefiting from rapid technology improvements and about 150 new offshore wind projects…
Southeast Asia Bullish on OFS Market
Offshore project sanctions in Southeast Asia could lift greenfield investments in the oilfield services market by nearly 70 percent in 2020, said Rystad Energy.According…
Austal USA Christens Latest Navy Ship
American, Australian-Domiciled global ship building company Austal Limited said that its latest USA-made Navy vessel was officially christened during a ceremony…
USCG Names Cutters After 9/11 Heroes
The U.S. Coast Guard (USCG) announced that two new Fast Response Cutters (FRCs) will be named in honor of Coast Guard reservists who served in the New York City…
Hapag-Lloyd Expands Atlantic Loop 3
German international shipping and container transportation company Hapag-Lloyd AG announced that it is expanding fleet on Atlantic Loop 3 service between the US…
$154.5Mln EIB backing for Greek Port
The European Investment Bank (EIB) on Monday formally agreed to provide 140 million euros (USD $154.5 million) to support expansion and upgrading of Piraeus Port…
Massive Benefits in Reducing Ship Speeds
Cutting the speed of ships has huge benefits for humans, nature and the climate, according to a new report, a new report published by Seas at Risk and Transport…
Vale cuts Iron Ore Sales Outlook Range
Brazilian iron ore miner Vale on Monday said it now expects sales of iron ore and pellets to be between 307 million and 312 million tonnes in 2019, further reducing its full-year outlook as it grapple
AEO Status for APM Terminals Quetzal
Guatemala’s Superintendence of Tax Administration (SAT), customs entity, has recognized APM Terminals Quetzal’s transparency and security through its accreditation…
Tanker Scrapping to Remain Low
There has been a near absence of the demolition activity in tanker market this year, Gibson Shipbrokers said in its latest tanker market report. The scrapping likely…
IMO Launches Compendium
Streamlining the many administrative procedures necessary when ships enter or leave port is an important element of International Maritime Organization (IMO)'s work.And now…
ABS Issues New Carrier Fire Guide
Classification society American Bureau of Shipping (ABS) has issued what it says is first of its kind ‘Guide for Fire-Fighting Systems for Cargo Areas of Container Carriers’…
MPC Capital Buys Stake in Albis
German shipping asset manager MPC Capital has acquired a strategic stake of 50 percent in compatriot tanker chartering company Albis Shipping & Transport.The Hamburg…
DNV GL Awards AIP for SHI Cyber Secure Notation
The international accredited registrar and classification society DNV GL has presented South Korean shipbuilder Samsung Heavy Industries Co., Ltd. (SHI) with an…
Asian LPG Market to Cross $109Bln by 2024
The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as…
