GTT Warns of Possible Coronavirus Delays, Beats Full-Year Guidance
French naval engineering company GTT said it could possibly see delays to vessel construction and revenue collection due to the coronavirus outbreak.However, the group, which generates most of its revenues in Asia, said it had not observed any delay in vessel construction schedules to date.The Paris-based company, which designs tanks for liquefied natural gas carriers, posted a marginally better than expected 2019 core profit of 174.3 million euros ($189.4 million)…
Sempra to Decide on U.S., Mexican LNG Export Plants in 2020
California energy company Sempra Energy said on Thursday it expects to make final investment decisions (FID) this year to build two new liquefied natural gas (LNG) export plants - one in the United States and one in Mexico:Sempra said it plans to make FIDs on the first phase of the Costa Azul export plant in Baja California in Mexico in the first quarter and the Port Arthur export plant in Texas in the third quarter.At Costa Azul…
Frontline Profitable in Q1 Despite Low Freight Rates -CEO
Oil tanker firm Frontline's earnings are in the black so far in the first quarter despite strong headwinds from low freight rates, it's top executive said on Thursday."We…
Have You Taken the MarTID 2020 Survey?
There's still time to complete the third annual global Maritime Training Insights Database (MarTID) survey, open through February 29, 2020.Make sure your voice is heard. Take the MarTID 2020 survey today:Vessel operator survey: https://www.surveymonkey.com/r/2020MarTIDOperatorMETI survey: https://www.surveymonkey.com/r/2020MarTIDMETISeafarer survey: https://www.surveymonkey.com/r/2020MarTIDSeafarerMarTID is a non-commercial…
Tubes and Piping Most Prone to Failure -Report
When it comes to components failures in the maritime and oil and gas industries, tubes and piping are the top offenders, new research published by classification society DNV GL reveals.After reviewing more than 1,000 failure cases accross its network of five specialist laboratories in the U.S., Europe and Asia, DNV GL identified that, of the components examined, more than a quarter (27%) of failures occur in tubes and piping, and a fifth (20%) in rotating machinery.
Hempel Taps Lindström as COO
Katarina Lindström will join Hempel as Executive Vice President & Chief Operating Officer from August 1, 2020 as the coatings manufacturer aims to double in size.As Executive Vice President & Chief Operating Officer (COO), Katarina Lindström will be a member of Hempel’s Executive Management Board.As part of its long-term growth strategy, Hempel is making significant investments in innovation and sustainability…
C&C Building Towboat Trio for Hines Furlong
Hines Furlong Line currently has a trio of identical 6,000-horsepower towboats on order at C&C Marine and Repair in Belle Chasse, La.The timing is right to order the high-power newbuilds, said Kent Furlong, president and founder of Hines Furlong Line (HFL), citing the long-term implications of Subchapter M and the industry’s aging higher horsepower line haul fleet as key drivers behind the decision. “Many of the high-horsepower vessels in the HFL fleet are among the oldest,” he said.
Frontline Warns on Virus Impact after Q4 Profit Surge
Oil tanker firm Frontline warned on Thursday that the coronavirus outbreak will hurt its results in the near term, even as the group reported sharp gains in earnings for the final quarter of 2019.Frontline's net profit for the October-December period rose fourfold year-on-year to an 11-year high of $108.8 million, but still lagging an average forecast of $127.1 million in a Refinitiv poll of analysts."Primarily due to the effect of the coronavirus, we have a near-term macro headwind with a slowd
NYK Focuses on Ammonia as Marine Fuel
Japan-based shipping giant NYK has presented its concept for using ammonia as a marine fuel or zero-emission ships as part of the industry’s decarbonization drive.Ammonia…
Evergreen Line Launches New Digital Platform
Taiwanese container transportation and shipping company Evergreen Line has launched a new digital platform designed to provide customers with seamless booking capabilities…
Safe Bulkers Updates Charter Arrangements
International provider of marine drybulk transportation Safe Bulkers said that two of its vessels - MV Kypros Sky and MV Kypros Spirit - were sold and leased back…
Global LNG Exports Reach 362MT in 2019
During the fourth quarter of 2019, spot LNG freight rates continued to strengthen with average reported headline rates for MEGI/X-DF LNG carriers increasing by 66% from $74…
Singapore Gives 50% Port Dues Concession
Singapore's Maritime and Port Authority (MPA) will be giving a 50% port dues concession to passenger ships, to provide relief to ship owners and operators who have…
Seven Seas Splendor Named in Miami
Godmother and international icon Christie Brinkley named Seven Seas Splendor in a star-studded ceremony during black-tie festivities Friday evening at PortMiami.The…
GTT Bags Tank Design Order from China Yard
French LNG containment specialist Gaztransport & Technigaz (GTT) announced that it has received an order from the Chinese shipyard Hudong-Zhonghua Shipbuilding (Group) Co.
Dry Bulk Fleet Growth to Slow to 3.1% in 2020
The largest international shipping association representing shipowners, BIMCO said that it expects dry bulk fleet growth to slow to 3.1% in 2020, after a 3.9% fleet…
EU Shipyards Specify Grease-Free Bearing System
Canadian provider of polymer bearing solutions Thordon Bearings said that its ThorPlas-Blue has established itself as the bearing of choice for deck equipment, with…
KVH Expands AgilePlans Service
KVH Industries, Inc., announced that AgilePlans Connectivity as a Service (CaaS) is now available as a regional offering using KVH’s ultra-compact, 37 cm TracPhone V3-HTS antenna. With data speeds as fast as 5 Mbps down/2 Mbps up, the TracPhone V3-HTS is designed to enable fishing vessels, workboats, and smaller commercial vessels to leverage fast and reliable Internet connectivity. The service includes…
Tuco Delivers Workboat for Autonomous Ship Research Program
UiT, The Arctic University of Norway takes over new ProZero Workboat for its Autonomous Ships Navigation research program.The ProZero 8m Full Cabin Service Boat is outfitted and utilized as a fast and flexible multi mission workboat, and is purchased from ProZero of Denmark, after an extensive tendering process. The boat has now been built to the desired specifications of UIT and is taken over by the University after full sea trials at the ProZero building yard…
Liberian Registry Opens Oslo Office
The Liberian Registry announced it has opened a new full-service office in Oslo, its fourth new office opened since 2019, as the Registry continues to grow its global network.The Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, said Hege Solstad has been named General Manager of the Norwegian office.Hege Solstad brings to maritime experience to the role…
