Maritime Risk Symposium 2020: Maritime Resilience in Black Swan Events
In 2007, scholar Nassim Nicholas Taleb, who holds a doctorate from the University of Paris, wrote a bestselling book titled “Black Swan,” which proposed a theory involving unpredictable events with significant impact. Taleb believed that a black swan event was an outlier with significant impact and, once it occurs, is the source of deep reflection and rationalization. Since the book’s publication,…
Report: Pirate Attack on Oil Tanker Thwarted Off Ghana
An attempted pirate attack on the Marshal Islands-flagged tanker Pike was reportedly thwarted on Friday morning offshore Ghana.According to Praesidium, a maritime security intelligence firm, the tanker, which had left Lagos the day before, was approached on Friday around 0350 UTC by a small craft with six to eight persons aboard.“Perpetrators attempted to board the vessel, but evasive maneuvers performed by the Master hampered their attempt.
Dutch Shipyard Wins Contract to Build New Vessel Type, "Monomaran Crewtender"
Coastwise Offshore Services and Next Generation Shipyards signed a contract for the building of a new type of vessel, an aluminum vessel for the offshore wind-industry, with an option for three additional vessels. The signing took place at Next Generation Shipyards on Lauwersoog, the Netherlands. The new boat aims to combine the stability of a catamaran with the speed and fuel efficiency of a monohull…
Shipping Community Beware; Sanctions Scrutiny is Stepping up a Gear
Earlier this year, The U.S. Department of State, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the U.S. Coast Guard issued a new advisory to provide those engaged or involved in trade in the maritime industry with further information and tools to counter illicit shipping and sanctions evasion.The advisory is representative of the U.S. Government’s increasingly detailed efforts towards addressing these issues…
Baltic Index Retreats as Capesize Rates Drop
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, Panamax and supramax vessels, shed 16 points, or 1.1%, at 1,488.The index registered a small 0.5% weekly gain. The capesize index fell 46 points, or 2%, to 2,218. However, the capesize index registered a 2.7% weekly gain.Average daily earnings for capesizes, which typically transport cargoes of 170…
Workboat Repower: New Life for Miss Vivian
A Corpus Christi crew boat runs with renewed power and graceMiss Vivian has a commanding presence while plying the waters off the Texas Gulf Coast.Hardworking crew boat Miss Vivian serves offshore oil platforms and large ships moored in Corpus Christi Harbor. Owned by Sea Level Marine, Inc., in Aransas Pass, Texas, the 28-meter (91-foot) welded aluminum vessel is U.S. Coast Guard-approved for 50 passengers…
Seatankers Names Svelland as New CEO
Norwegian-born billionaire John Fredriksen appointed a hedge fund manager on Friday as next head of his family's key holding company, which controls assets ranging from oil tankers and rigs to real estate, fish farming, and finance.Fredriksen, 76, said Tor Andre Svelland, 53, will become chief executive of Seatankers Group, top shareholder of world number one salmon producer Mowi, tanker firm Frontline…
ClassNK Releases “Guidelines for Digital Smart Ship”
ClassNK released its “Guidelines for Digital Smart Ship” which stipulates the procedures for class notations for ships with advanced digital technology. The guidelines are part of the society's new initiative, "Innovation Endorsement", aiming to certify innovations utilizing digital technology.The "Digital Smart Ship Guidelines" set out the requirements to grant class notations, “Digital Smart Ship”…
ReCAAP Issues Alert Over Armed Robberies at Batangas Anchorage
Two recent instances of violent armed robbery against ships berthed/anchored in Batangas, Philippines have prompted the ReCAAP Information Sharing Center (ICS) to alert the maritime community to dangers in the area.The two incidents occurred within an interval of seven days, and in both cases the perpetrators demonstrated violence toward crew with a knife.The first incident occurred on August 14 at about 10 a.m.
Hermitage Offshore Services Appeals NYSE Delisting Decision
Offshore vessel owner Hermitage Offshore Services has appealed against the New York Stock Exchange's move to delist its shares.Hermitage Offshore Services (previously…
Venture Global LNG: Minimal Impact of Hurricane on LNG Construction Site
LNG developer Venture Global LNG has said that its under-construction LNG project Calcasieu Pass LNG in Cameron, Louisiana has sustained "minimal impacts" from Hurricane Laura which made landfall early on Thursday in southwestern Louisiana as a category 4 storm.Venture Global LNG is building the 10 MTPA Calcasieu Pass facility at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico…
Novatek Ships First LNG Cargo to UAE
Russian gas company Novatek has said it has shipped its first LNG Cargo to the United Arab Emirates.Novatek said Friday that the cargo was shipped from the Yamal…
Asia LNG Price Hovers above $4/mmBtu as Hurricane Disrupts U.S. Exports
Asian spot liquefied natural gas (LNG) prices hovered above $4 per million British thermal units (mmBtu) this week as cargo loadings from the United States were delayed due to a powerful hurricane.The average LNG price for October delivery into northeast Asia <LNG-AS> was estimated at about $4.05 per mmBtu, down five cents from the previous week.Loadings of LNG cargoes from the U.S. have been delayed following Hurricane Laura…
Sovcomflot's 1H Profit Jumps 149%
Russian energy shipping company Sovcomflot reported a net profit for the first half of 2020 of $226,4 million, a 148.8 percent increase to last year's first-half income of $91 million. The first half 2020 revenue was $951,3 million, up from $794,1 million in the first half of 2019.Igor Tonkovidov, President and CEO of SCF Group said Friday that the company had achieved its targets with an optimal balance of long- and short-term charter contracts…
World's First: Drone Brings Cargo to Offshore Production Platform
Norwegian oil company Equinor has successfully sent a drone carrying a 3D-printed cargo from shore to an offshore production platform in the North Sea in what the company says is a world's first.In a flight spanning around 80 kilometers from the Mongstad base onshore to the Troll field in the North Sea offshore Norway, the drone carried a 3D-printed part for the lifeboat system. The flight took one hour, at an altitude of approx.
Mauritius: No Oil Found in Dead Dolphins' Bodies
Dead dolphins that washed up in Mauritius near the site of an oil spill have so far been found to have wounds on their bodies but no trace of oil, preliminary autopsy results released on Thursday said.Environmentalists are urgently seeking an explanation for the mysterious deaths of 27 dolphins which washed ashore on Wednesday and Thursday, to determine whether they were killed by the spill. Scientists…
Argentina: Grains Port Workers Delay Strike
labor union representing Argentine grains port workers said on Thursday that it suspended a scheduled strike over wages after the government called for talks between the workers and their companies.The URGARA union, which represents inspectors who check the quality of grains before they are loaded onto ships, said the strike, previously set to begin on Friday, would hold off until an upcoming meeting scheduled by the government."In the framework of maintaining social peace…
Oil Dips as U.S. Rigs, Refiners Appear to Have Avoided Worst of Storm
Oil prices fell in early trade on Friday as a massive hurricane raced inland past the heart of the U.S. oil industry in Louisiana and Texas, with a storm surge weaker than predicted.U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.4%, to $42.85 a barrel as of 0014 GMT, adding to overnight losses.Brent crude futures for October, set to expire on Friday, fell 9 cents, or 0.2%, to $45.00 a barrel…
KVH Unveils TracVision TV10 Antenna
KVH Industries, Inc. launched the newest marine satellite TV antenna in its TracVision series. A 1-meter ultra-high efficiency marine antenna, the TracVision TV10 provides the biggest coverage footprint in KVH’s TracVision series and is designed to provide boat owners, charter yacht guests and commercial vessel crews with access to live news, local channels and TV and movie programming from leading…
US Energy Exports Severely Disrupted by Hurricane Laura
Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.The hurricane also temporarily suspended operations at several liquefied natural gas (LNG) facilities in the world’s third largest exporter of the super-cooled gas…
