Ingalls Awarded LCS Planning Yard Contract
Huntington Ingalls Industriesā (HII) Ingalls Shipbuilding division has been awarded a contract modification to exercise the first option year of the existing Littoral Combat Ships (LCS) Planning Yard contract. This option has a potential total value of up to $107.9 million for planning yard services in support of in-service LCS class ships.āOur outstanding and experienced Shipyard Planning Yard teamā¦
NOIA Elects Cobb, McCarroll to Board Leadership Roles
The National Ocean Industries Association (NOIA) Board of Directors has elected Galen Cobb, Vice President of Industry Relations of Halliburton, as Chairman and Matt McCarrollā¦
World's Largest Containership HMM Algeciras Launched
South Korean ocean carrier HMM held a naming ceremony for the newly constructed 24,000 TEU-class containership HMM Algeciras, the worldās largest containership, at the Daewoo Shipbuilding & Marine Engineeringās (DMSE) Okpo shipyard in Geoje, Korea.The 399.9-meter HMM Algeciras is the first of a dozen 24,000 TEU-class vessels scheduled to be delivered this year, and takes the "world's largest" title from the 23ā¦
Coronavirus-hit Ruby Princess Departs Australia
A cruise ship linked to a third of Australiaās coronavirus deaths has left the country after a month docked in local waters, the authorities said on Friday, as anā¦
Coronavirus Cases Count Climbing on Costa Atlantica
As many as 91 crew of an Italian cruise ship docked in the Japanese port of Nagasaki are infected with coronavirus, officials said on Friday, as questions persistā¦
Significant COVID-19 Outbreak on US Navy Destroyer
U.S. Navy destroyer USS Kidd (DDG 100) is believed to have a significant coronavirus outbreak on board as it carries out a counter-narcotics mission in the Caribbean, U.S. officials told Reuters on Friday, marking the latest challenge for the military in dealing with the virus.The officials, speaking on condition of anonymity, said that over a dozen sailors had tested positive for the virus. Given the size of shipā¦
BOEM Studies Renewables' Potential in US Gulf
The Bureau of Ocean Energy Management (BOEM), Gulf of Mexico OCS office published two new studies examining the potential for and impacts of renewable energy projects in the U.S. Gulf of Mexico.āOffshore Renewable Energy Technologies in the Gulf of Mexicoā analyzed different offshore renewable energy technologies -- including wind, wave, tidal, current, solar, deepwater source cooling and hydrogen -- to determine which are best suited for development in the Gulf of Mexico.Offshore windā¦
Baltic Exchange Adds Tanker OPEX Assessments
The Baltic Exchange has added quarterly assessments of the cost of operating crude oil carrying Aframax tankers and clean product carrying Medium Range (MR) tankers to its growing suite of shipping investor tools.The new service is based on assessments made by independent third-party ship management companies Anglo Eastern, Fleet Management and V-Ships. Using the full suite of independent Baltic Exchange indicesā¦
Clipper Bulk Cuts Staff amid 'Historically Low Freight Markets'
Dry bulk operator Clipper Bulk announced it will reduce onshore staff in an effort to narrow costs amid historically low freight markets dragged down by the coronavirus pandemic.āThe dry cargo market has struggled with unsustainably low freight rates for years, but the COVID-19 pandemic has made matters worse and caused a steep downturn in demand and freight rates. We need to adapt to this new realityā¦
Surge in Oil Tankers at Anchor off California
An increased number of oil tankers sit at anchor near the ports of Los Angeles and Long Beach as the volume of oil products held in floating storage around the globe has skyrocketed in the past month amid what analysts are saying is the biggest oil glut in history.There were 27 tanker vessels off the coast of Southern California Thursday afternoon, according to the U.S. Coast Guard, who is monitoringā¦
Maersk Drilling to Mothball Several Rigs, Reduce North Sea Headcount
Danish offshore drilling contractor Maersk Drilling is set to mothball several offshore drilling rigs, and as a consequence, reduce the number of offshore workers, citing low oil prices and the impact of COVID-19 pandemic as the reason."The COVID-19 pandemic and the lower oil price environment are impacting offshore drilling activity. Some tenders and projects are being delayed or canceled which adversely affects commercial prospectsā¦
Supertanker Rates Ease After Spike. Could Jump Again Soon
Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices, sources said.Tanker rates jumped earlier in the week after U.S. WTI crude futures for May turned negative ahead of their expiry for the first time ever on Monday as desperate traders paid to get rid of oilā¦
Oil Storage Crunch May Affect Guyana Crude Shipments
Oil shipments from nascent crude producer Guyana's prolific Liza field could be affected by a growing storage glut that has contributed to plunging global crude pricesā¦
Overcapacity and low demand growth set the tone in the 2010s -BIMCO
Over the past decade, the developing world economy has allowed for strong growth in shipping activities, with the demand for transport never having been higher. However, the benefits of this growth have been limited due to the industry jeopardizing the good times by ordering too many ships.In the 2010s, the supple of ships has largely outgrown demand, putting freight rates under pressure persistently and causing challenging conditions for the dry bulk market.
NEXT GEN Shock Mitigation Solutions Workshop Rescheduled
The NEXT GEN Shock Mitigation Solutions Workshop has been rescheduled to October 6, 2020. The program and format will remain the same and the majority of attendees have confirmed their availability for the new date at the Grand Harbour hotel, Southampton UK.Workshop Lead, John Haynes said, āWhilst we are living in challenging times, we believe it is still important to make plans for the future. Our focus is on viable innovation and using peopleās time effectively.
Weeks Marine Orders New Dredger at Eastern
Dredging contractor Weeks Marine has ordered a new trailer suction hopper dredger from Eastern Shipbuilding Group, to be delivered in the first quarter of 2023.The new dredge, RB Weeks, to be constructed at Eastern's Allanton shipyard in Panama City, Fla. will be a sister ship to the Eastern-built twin screw TSHD Magdalen placed into service in 2018. The RB Weeks is named after the co-founder of the company and the husband of Magdalen Weeks.The shipbuilding orderā¦
Saudi Arabia May Re-route Tankers if US Bans Crude Imports
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.Some 40 million barrels of Saudi oil are on their way to the United States and due to arrive in the coming weeks, piling more pressure on markets already struggling to absorb a glut of stocks, according to shipping data and sources.U.S.
US Sends Aid to Greenland in Bid to Counter China, Russia in Arctic
The United States announced a $12.1 million economic aid package for Greenland on Thursday aimed at strengthening mutual ties and boost a renewed U.S. push for a greater military presence in the Arctic.The move to improve ties with Greenland drew criticism from Denmark, which less than a year ago rebuffed U.S. President Donald Trumpās offer to buy the vast Arctic island as āabsurd.āGreenland, which on Thursday welcomed the money, is becoming increasingly important for the U.S.
New Model Aims to Help Businesses Get Back to Work After COVID-19
A new model aims to help commercial and public organizations resume operations safely as restrictions around the COVID-19 pandemic begin to ease.Building on guidance from the Centers for Disease Control and Prevention (CDC) and the Occupational Safety and Health Administration (OSHA), ABS Consulting said its Restart Risk Model offers a way for organizations to systematically evaluate the risk of disease transmission to their sitesā¦
Report Examines Maritime Digitalization in Japan
A new study, āA quiet revolution - the maritime innovation ecosystem in Japanā, explores the commitments to Internet of Things (IoT)-based ship and crew management already made by corporate Japan, then goes on to offer unique insights into the countryās emerging start-up culture.The report, sponsored by Inmarsat is the first in a series of in-depth profiles into maritime technology and start-ups in specific countries.
