NGA in Rig Settlement Pact with Industri Energi
The Norwegian Shipowners' Association (NGA) reached an agreement with Industri Energi and SAFE in the Mid-Term Settlement for employees on mobile offshore units…
Iran Acts Upon IMO 2020
According to notices given by international organizations to Iran by January 1st, all Iranian vessels must use low-sulfur fuel, otherwise they may face many consequences.Jalil Eslami…
Thailand Prepapres for Oil Spill
Supporting countries to prepare for contingencies is an important part of International Maritime Organization (IMO) 's capacity building work.Thailand is the latest…
Scorpio Buys 19 Tankers from Trafigura
Monaco-based petroleum products shipping firm Scorpio Tankers has signed a deal to acquire 19 product tankers from Trafigura Maritime Logistics for around $803 million.The…
Vigor Wins Modernization Contract for Two Navy Cruisers
Vigor was awarded a $254,566,431.36 firm-fixed-price contract for the execution of USS Chosin (CG 65) and USS Cape ST. George (CG 71) Modernization Periods (MODPRD). The contract includes options, which if exercised would bring the cumulative value of this contract to $303,677,110.Work will include a combination of maintenance, modernization and repair. The modernizations will keep these ships combat…
USCG Commissions FRC in Honolulu
The U.S. Coast Guard commissioned the newest Hawaii-based 154-foot Fast Response Cutter in Honolulu, Thursday.“There is no greater reflection of the commandant’s strategic vision and commitment than the fact that as we commission the William Hart today, it will be the fifth Coast Guard cutter commissioned in the last two years here at Base Honolulu that will operate in the heart of Oceania,” said Rear Adm. Kevin Lunday, commander Coast Guard 14th District.
Enhanced Vessel Tracking via Oceans X
Oceans X is a new web-based platform that allows a wide variety of users such as port agents, bunkers suppliers, port chandlers, port authorities, banks and others to track and monitor tankers and dry cargo vessels globally and in real-time. Oceans X’s vessel monitoring technology uses a combination of automatic identification system (AIS), artificial intelligence (AI) and predictive data analytics to add value for the user.For example…
Containership Strikes Tanker in Greece
Japanese carrier Ocean Network Express (ONE) confirmed reports that its chartered containership ONE Blue Jay came into contact with a chemical tanker near Port of Perama…
Baltic Index Falls on Sluggish Capesize Demand
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped on Friday and recorded its steepest percentage fall in two months, as Chinese steel mill restrictions continued to drag down capesize rates.* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, declined 106 points, or 5.4%, to 1,857 points. For the week, the index dropped 13.3%…
Oil Freight Rates Rocket After U.S. Sanctions COSCO
Oil freight rates in the Middle East and Asia have increased by almost 20 percent today following new US sanctions on units of Chinese company COSCO for its alleged involvement in ferrying crude oil out of Iran.In what the U.S. State Department has described as “one of the largest sanctions actions the U.S. has taken” since restrictions were re-imposed on Iran in November 2018, two units of COSCO, as well as other companies…
JFD Wins Submarine Rescue System Contract
James Fisher and Sons said its subsidiary JFD has been awarded a multimillion dollar contract for the design and build of submarine rescue equipment but no further details are yet available. The company recently completed the delivery of a range of saturation diving products rated to a depth of 500 meters for a leading offshore service provider, a world first. The products were developed as part of a saturation diving system and include environmental control systems…
Container Rates Fall Due To Overcapacity
According to Norway-based ocean freight rate benchmarking and market intelligence specialist Xeneta, long-term contracted ocean freight rates for carriers continued their downward trend this month, however by only 0.1% globally. The company said the decline comes against a backdrop of increasing overcapacity, and that widespread blanked sailings and on-going concern over US-China relations were adding…
Fast Ferry Brilliance of Majestic Launched
Incat Crowther announced the launch of Brilliance of Majestic, the first in a new class vessel. Brilliance of Majestic is the first of a third class of vessel designed by Incat Crowther for the operator, Majestic Fast Ferry. At 33m and 39m respectively, the previous vessels housed their passengers in a single deck configuration that reduced weight and construction complexity. The Brilliance class was driven by the requirement to carry more passengers at greater speed…
Excelerate to Build FLNG Terminal in Philippines
Philippine authorities have given Excelerate Energy LP permission to proceed on plans to develop a floating natural gas import terminal to supply existing and new…
Rosneft Starts Far East LSFO Bunkering
RN Bunker, the bunkering subsidiary of Russia's Rosneft Oil Company, said it has begun to refuel ships with 0.5% sulfur limit marine fuel at the Far East region.The RMLS 40…
EOLOS Gets Capital Injection
EOLOS Floating Lidar Solutions, a start-up supported by EIT InnoEnergy, has completed a significant capital injection by the entity of the Swiss investment company Prorsum AG.Rajai Aghabi…
GEO Installs Ulstein Blue Box in 2 Vessels
The Norwegian ship owner Golden Energy Offshore has decided to install Ulstein Blue Box on two of their vessels.The offshore service vessels for the global oil and…
Japanese Backers for Novatek's LNG Complexes
Russia’s largest independent natural gas producer and LNG project operator Novatek has formed ties with Japan's shipper Mitsui O.S.K. Lines (MOL) and Japan Bank…
ABS Spotlight on Female Mariners
The maritime classification society American Bureau of Shipping (ABS) celebrated International Maritime Organization’s (IMO) World Maritime Day with a month of activity…
HMM, DSME Join Forces for Smart-ship Tech
South Korea’s container shipping giant Hyundai Merchant Marine (HMM) and compatriot shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) have joined forces on the research, development and in
