Hyundai Heavy Industries Applies for IPO Approval
![Credit: Jasmine Halki/Flickr - CC BY 2.0](https://images.marinelink.com/images/maritime/w100h1500/credit-jasmine-halkiflickr-cc-by-122533.jpg)
South Korean shipbuilder Hyundai Heavy Industries Co Ltd applied for preliminary approval for an initial public offering, Korea Exchange said on Thursday.The company, currently wholly owned by Korea Shipbuilding & Offshore Engineering, was separated from Korea Shipbuilding in 2019.Hyundai Heavy reported a 2020 operating profit of 32.5 billion won on revenue of 8.3 trillion, Korea Exchange said in a statement.(Reporting by Joyce Lee; editing by Jason Neely)
Tanker Firm Euronav Says Large Crude Tonnage Still Abundant. Sees Slow Freight Rates Recovery
![File photo: Euronav](https://images.marinelink.com/images/maritime/w100h1500/file-photo-euronav-122532.jpg)
Belgian tanker operator Euronav on Thursday reported higher-than-expected first-quarter earnings, but said the shipping market was pressured by restricted crude supply and a slow recovery in freight rates.The group, one of the largest tanker companies in the world, said COVID-19 restrictions were depressing demand for crude oil and high levels of compliance with OPEC+ output supply cuts have restricted the number of cargoes available for commercial transit…
Survitec Wraps Hansen Protection Buy
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Maritime survival equipment specialist Survitec has completed the acquisition of Hansen Protection, a provider of personal protective equipment. Ron Krisanda, Executive Chairman at Survitec, commented: "The addition of Hansen Protection, and its leading portfolio in personal protective equipment, protective rainwear, and technical textile solutions, fits perfectly within Survitec. "Our acquisition…
Seismic Data Firm CGG Launches Pollution Monitoring Solution
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French firm CGG, best known for its seismic data services for oil and gas exploration, has now launched a maritime pollution monitoring solution named SeaScope."Combining expertise in remote sensing science, Earth observation data, machine learning and high-performance computing, SeaScope provides critical sea surface slick intelligence for a range of industries to strengthen situational awareness of the interaction between offshore assets…
Salvage Crews Begin Lightering Fuel from Seacor Power
![The Seacor Eagle is on scene for salvage and pollution response operations following the fatal capsizing of the Seacor Power off Port Fourchon, La. (Photo: Brendan Freeman / U.S. Coast Guard)](https://images.marinelink.com/images/maritime/w100h1500/the-seacor-eagle-is-on-122516.jpg)
Salvors have started removing fuel from the tanks of a lift boat that capsized in the Gulf of Mexico last month, the U.S. Coast Guard said.The 234-foot Seacor Power could have been carrying up to 35,000 gallons of fuel, lube oil, hydraulic and waste oil when it overturned in rough weather on April 13, about eight miles south of Port Fourchon, La., according to the Coast Guard. No spills have been reported.Salvage…
CDC Advances Plan for Resumption of US Cruise Operations
![Two Carnival cruise ships, Carnival Breeze and Carnival Vista, returned to Galveston earlier this week ahead of planned voyages later this year. (Photo: Port of Galveston)](https://images.marinelink.com/images/maritime/w100h1500/two-carnival-cruise-ships-carnival-122517.jpg)
The U.S. Centers for Disease Control and Prevention (CDC) has begun a key step for the eventual resumption of U.S. cruise industry operations by issuing new technical instructions.In October, the CDC issued Conditional Sailing Order for operators, which acted as a guidance for a phased resumption of cruise ship passenger operations.On Wednesday, it announced two new phases and said operators now have…
Castor Buys Another Bulk Carrier
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Castor Maritime announced it has acquired a 2013 Japanese-built Kamsarmax dry bulk carrier for $21 million, marking the Cyprus-based shipping company's 18th vessel acquisition of 2021.Castor did not name the seller, but said it expects to take delivery of the vessel within the second quarter or beginning of the third quarter of this year.The Nasdaq-listed company has been swiftly expanding its dry bulk fleet, having bought three bulk carriers in 2020 and another 10 so far in 2021.
Brennan Opens a New Location in Paducah, Ky.
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La Crosse, Wis.-based dredging, diving and marine construction company J.F. Brennan Company said it established a permanent Mid-South Region presence in Paducah, Ky., and will provide all Brennan services, including above and below-water construction and environmental remediation services.The Mid-South team consists of locals in the area and is under the leadership of Robert "Bob" Wheeler, who recently joined Brennan from Shimmick Construction Company, Inc.
New Tug is a Mechanical Hybrid
![(Image: Schottel)](https://images.marinelink.com/images/maritime/w100h1500/image-schottel-122512.jpg)
The concept of “hybrid tug” is getting a whole new definition with an innovative new tug under construction at Turkey’s Uzmar Shipyard for the Danish Port of Aarhus. From the outside it looks very similar to other Robert Allan Ltd-designed tugs built at the Uzmar yard. The RAmparts 3000 ASD tug, to be named Hermes is 30.25 by 11.75 meters.In the engine room and in the thruster rooms of the azimuthing stern drive (ASD) tug, the innovations are revealed.
Smartphone App Aims to Help Commercial Fishing Reduce Bycatch
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A new smartphone app created in the U.K. enables the fishing industry to report accidental wildlife catch (bycatch) alongside standard catch reporting and will help to record bycatch of important marine species such as dolphins and porpoises, seals, seabirds, sharks, skates and rays.The app's developer, AST Marine Sciences Limited, part of Applied Satellite Technology Ltd, says it hopes the technology…
Low Water Levels Hamper Shipping on the Parana River
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Argentina's Parana River, the grains superhighway that takes soy and corn from the Pampas farm belt to the world, has gotten so shallow that it has started "trimming" international shipments just as the country's export season gets underway.The level of the Parana at the export hub of Rosario, home to some of the biggest soy crushing plants in the world, was a scant 0.90 meters on Wednesday, according…
Port of Corpus Christi Inks LNG Bunkering Deal with Stabilis
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One of the United States' top oil export ports said it plans to build infrastructure for bunkering vessels fueled by liquefied natural gas (LNG).The Port of Corpus Christi Authority said it inked a memorandum of understanding (MOU) with Stabilis Solutions to facilitate the use of LNG as a marine fuel at the U.S. Gulf Coast port as vessels running on the cleaner-burning fuel become increasingly prominent…
Bureau Veritas Publishes Guidance on Ammonia as Marine Fuel
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Classification society Bureau Veritas (BV) has released an Ammonia-Prepared notation and has developed a Rule Note for ammonia as a marine fuel as more industry players continue to show interest in the cleaner-burning fuel on the path to shipping decarbonization.The Ammonia-Prepared notation, developed in collaboration with different stakeholders including ship owners, equipment makers, designers and shipyards…
Cargo Removed from Stricken Tanker off China, Preparing for Voyage to Repair Yard
Cargo onboard a tanker that leaked oil off China has been removed and preparations are underway so the vessel can sail to a Chinese repair yard, the ship's manager…
Maersk Expects Container Shipping Tailwind to Last Amid High Demand
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Denmark's Maersk said on Wednesday it expected its "exceptionally strong" performance in the first quarter to continue for the rest of the year, driven by high demand for shipping containers from China to the United States.Maersk, which handles about one in five containers shipped worldwide, said there were not enough ships available in the world to meet a surge in consumer demand, resulting in record-high freight rates.The firm's shares traded 4% higher at 0921 GMT…
PHOTO: Siemens Gamesa Takes 'Esvagt Dana' Back to Baltic 2 Offshore Wind Farm
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Danish offshore vessel owner Esvagt has informed that its Esvagt Dana vessel has returned back to the Baltic 2 offshore wind farm in Germany to support wind turbine maker Siemens Gamesa during maintenance work.For the next three to six months, the ’Esvagt Dana’ will connect its gangway system to the offshore wind turbines in the 288MW Baltic 2 wind farm. The Baltic 2 wind farm is owned by EnBW. It…
BIMCO: U.S. Coarse Grain "Madness" Triples Ton-Mile Demand
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Record high US seaborne exports of coarse grains in March of 9.2 million tonnes took total Q1 exports to 21.3 million tonnes. This is the highest ever first quarter on record and a 120% increase from Q1 2020.Of the total 21.3m tonnes exported so far this year, 68%, or 14.6m tonnes, have gone to Asia, an increase of 208.7% from Q1 2020. For years, the trade war has lowered US exports to China, but exports…
Maritime Safety: Viking Aquires HydroPen Container FiFi System
![Image courtesy Viking](https://images.marinelink.com/images/maritime/w100h1500/image-courtesy-viking-122495.jpg)
Viking Life-Saving Equipment has acquired HydroPen, the company behind the unique HydroPen container firefighting solution. HydroPen, attached to a ship’s hose and raised on a telescopic arm by a single crew member, uses water pressure alone to power its ‘drill and spray’ nozzle to penetrate a container door before switching to spray mode to extinguish a fire with water, foam or CO2 – directly at its source.HydroPen was founded in 2016 by Martin Winkel…
Case Study: Uni-Tankers Banks on Frugal Propulsion for Fuel Savings
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Ten months of test sailing using Frugal Propulsion on the tanker Endelo Swan shows a fuel saving of 12.2%, which is now driving Uni-Tankers to install the system on more ships in the fleet.Danish shipping company Uni-Tankers is reaping the rewards of Frugal Propulsion, a system which provides opportunities for optimizing fuel consumption on engine-driven ships.Frugal Propulsion, which is developed by the Danish start-up Frugal Technologies…
Kongsberg Digital, BW LNG and Alpha Ori Ink Digital Deal
![Left to right: Yngvil Åsheim, Managing Director, BW LNG; Captain Rajesh Unni, Co-CEO, Alpha Ori Group; Hege Skryseth, President, Kongsberg Digital. Image courtesy Kongsberg](https://images.marinelink.com/images/maritime/w100h1500/left-to-right-yngvil-sheim-122492.jpg)
Kongsberg Digital, BW LNG and Alpha Ori Technologies signed a strategic digitalization partnership to realize digital capabilities that enhance efficiency and reduce the environmental footprint of LNG carriers (LNGCs) and floating storage and regasification units (FRSUs). The agreement encompasses several projects, including utilizing a common data management platform and developing a maritime digital…