Will Shipping IPOs Comeback in 2019?
The market for Initial public offerings (IPOs) across the global shipping industry has remained understandably muted in recent years but secondary offerings continue…
HMM Names Jae-hoon Bae As New CEO
South Korean container line Hyundai Merchant Marine (HMM) has announced that its board of directors had approved the hiring of Jae-hoon Bae as president and chief…
Scot Govt Takes Over Two Freight Ferries
The two freight ferries serving the Northern Isles have been bought by the Scottish government. Vessels MV Helliar and MV Hildasay will join the Caledonian Maritime Assets Ltd (CMAL) fleet…
IMO to Address Illicit Ship Registration
The legal committee of International Maritime Organization (IMO) will discuss a number of proposed measures to prevent fraudulent registration of ships and other deceptive shipping practices…
Japan Ratifies to Ship Recycling
International Maritime Organization (IMO)'s treaty for safe and environmentally-sound ship recycling has received another boost. Japan has become the 10th country…
DNV GL Invites Partners for Turbine Project
DNV GL calls on industry stakeholders to join a new Joint Industry Project (JIP) to develop Recommended Practice on wind turbine design methodologies for cyclones…
Sonangol Drillship Delivered
Angola state oil company Sonangol has taken delivery of Libongos, the first of two new drillships built by Korean shipyard Daewoo Shipbuilding Marine Engineering (DSME).The new seventh-generation drillship, christened March 21 in Busan, is capable of operating in deep, ultra-deep and pre-salt waters and will be available to carry out national and international work, Sonangol said.Sonangol president Carlos Saturnino…
Schottel Power for McAllister Tug
McAllister Towing selected Schottel to provide propulsion units for a new-built escort and harbor tug. The tug, under construction at Washburn & Doughty, will feature a pair of Schottel type SRP 490 Rudderpropellers with an input power of 2,525 kW each, delivering an expected bollard pull of about 82 tons.The contract continues a relationship between the iconic American tug company and the German maritime propulsion maker…
Fincantieri to Build Princess Cruise Ships
Princess Cruises and Fincantieri has announced the signing of the final contracts for the construction of two next-generation 175,000-ton cruise ships, which will…
Interferry Seeks Change in Call for Papers
A call for papers addressing transformational change has been launched by global trade association Interferry ahead of its 44th annual conference in London this October.The conference theme is Innovation – and CEO Mike Corrigan stresses that preference will be given to topics highlighting step change rather than incremental improvements. “We want to explore ideas that could revolutionize every aspect of the ferry industry,” he notes.
DMT Marine Equipment Appoints US Sales Rep
DMT Marine Equipment has announced the appointment of Kurt W. Bullard as partner in the USA for sales and after sales.The service representative in the United States is Onsite Alignment, located in Houma, Louisiana.DMT, a designer and manufacturer of heavy-duty marine winches and other deck equipment is Dutch owned with corporate offices, manufacturing and engineering facilities in Romania. DMT has…
Viking Sky: Low Lube Oil Triggered Shutdown
The engines of a luxury cruise ship that narrowly escaped disaster during a storm off Norway on Saturday failed because of relatively low levels of lubricating oil in the engines, the Norwegian Maritime Authority said on Wednesday.The Viking Sky, with almost 1,400 passengers and crew aboard, sent out a mayday signal on Saturday as it drifted in rough waters in the Norwegian Sea to within 100 metres of land.
American Club: Four Senior Appointments
Shipowners Claims Bureau, Inc. (SCB), Managers of the American Club, has announced several senior appointments which have been made to enhance the capabilities of…
Nakilat JV Adds Four LNG Carriers to Fleet
Nakilat established a new joint venture (JV), Global Shipping Co. Ltd., with shipping company Maran Ventures Inc. (Maran Ventures).Under the agreement, Nakilat will have a 60% stake in the JV while Maran Ventures will hold the remaining 40%. With 4 LNG vessels under the new JV, the number of Nakilat vessels will effectively increase to 74, which is approximately 11.5% of the global LNG fleet in carrying capacity.
Containershipping: Restoring Balance
The repositioning of empty containers costs the liner industry an estimated $15-20billion every year according to Boston Consulting Group (BCG), as containers sit idle at a depot or are repositioned to a different loading point while empty. This is time spent not earning revenue, whil incurring additional costs, and is estimated by BCG to account for 5-8% of total operating costs for an average container liner.
Petrobras Sues Samsung Heavy Industries
Samsung Heavy Industries said on Wednesday that Petrobras America filed a lawsuit against the South Korean shipbuilder with a U.S. court, claiming 283 billion won ($249.32 million) in damages.Petrobras America claimed that it paid excessive charter fees for a drill ship built by Samsung Heavy, Samsung said in a regulatory filing. Samsung delivered the vessel to U.S.
Iraq Orders ex-Governor Arrested after Ferry Sinking
Iraq has issued a warrant for the arrest of the former governor of Nineveh on corruption charges after at least 90 people were killed in a ferry accident in the provincial capital Mosul…
Arctic (& Wind) Operations: Hands Across the Water
As the North American offshore wind model evolves, it is clear that fit-for-purpose, Jones Act compliant and Arctic ready tonnage will need to be part of the equation. If so, we’ve got that box checked, with a little help from Europe.As of September 2018, the Walney Extension off the United Kingdom is the largest offshore wind farm in the world at 659 megawatts. There are at least 70 major wind farms…
EDF Enters Chinese Offshore Wind Market
French energy company EDF has signed an agreement with the Chinese utility China Energy Investment Corporation (CEI) to jointly deliver two offshore wind power projects…
Solar Solve Wins 40-Ship Order from S.Korea
The UK-based manufacturer of sunscreens for navigation bridge windows scored order for SOLASAFE anti-glare roller sunscreens that will be installed on 40 vessels…
