Royal Caribbean Flags Slow Summer Demand in Europe as Ukraine Crisis Weighs
Royal Caribbean Group on Thursday flagged slow summer demand for European cruises due to the Ukraine crisis, after a dull first quarter as it reeled under a resurgence in COVID infections in some parts of the world.Shares of the cruise operator fell about 5% to $73.87 after Royal Caribbean Group said higher fuel and food costs, spurred by inflationary and supply chain-related challenges, are expected…
Venezuela's Oil Exports Drop 8% in April amid Quality-linked Delays
Venezuela's oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel monitoring data on Thursday.U.S.-sanctioned Venezuela recovered a portion of lost production last year, but crude shipments have been volatile, bouncing some 200,000 barrels per day (bpd) in the…
NWS: Dangerous Marine Conditions Expected in Virginia as Storm Approaches
The National Weather Service Wakefield, Virginia on Friday warned of an approaching coastal storm impacting the region over the upcoming weekend and into early next week, warning mariners of potentially dangerous marine conditions."Gale force winds are expected Saturday evening through Tuesday evening, May 7-10. Between this time, expect strong north to northeasterly winds, 25-35 kts with gusts up to 40 kts.
Guyana in 'No Rush' to Draft New Offshore Oil Production Sharing Agreement
Guyana is in "no rush" to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output.The government of South America's newest crude oil producer said in 2021 it was planning a new agreement to revamp terms and boost royalties for future oil and gas projects. The proposed…
Germany to Help Eastern EU States Without Ports Access LNG - Scholz
Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied natural gas (LNG), Chancellor Olaf Scholz said on Thursday.Speaking after meeting with Czech Prime Minister Petr Fiala, Scholz said many countries faced an even bigger challenge than Germany in reducing…
Baltic Index Hits 7-Week High. Boosted by Stronger Rates for Bigger Vessels
The Baltic Exchange's main sea freight index rose to a seven-week high on Friday to notch up its fourth straight weekly gain, on higher rates for the bigger capesize and panamax segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 74 points, or 2.8%, to 2,718 points. Up 13.1%, the main index gained for the fourth consecutive week.The capesize index rose 173 points, or 6.4%, to 2,894 points.
Damen Shipyards Partners with Port Accelerator PortXL
Dutch Damen Shipyards Group has become a corporate partner of the PortXL accelerator program for the maritime industry.PortXL has been described as the world’s first port accelerator. Its objective is the acceleration of innovative technologies for the green energy, maritime, logistics, and process industry in port regions across the world.This is not the first time Damen has been connected with PortXL.
Perenco Declares Force Majeure after Oil Terminal Leak in Gabon
Anglo-French oil company Perenco has declared force majeure for 150 days following a leak at its Cap Lopez oil terminal in Gabon last week, a company spokesperson said on Friday.Overall production shut down is estimated at 50,000 barrels of oil per day, the spokesman said.The company expects production to restart within weeks, but with reduced storage capacity. The terminal normally receives 130,000 barrels of oil per day."We are temporarily re-routing production to the Oguendjo Terminal…
Converted and Renamed Emergency Towing Vessel Abeille Normandie
German Naval Yards has converted and and will delivery later in May the high-performance tug Abeille Normandie to the French shipping company Les Abeilles. The vessel arrived at the shipyard for conversion in September 2021.The 91 x 22-m vessel has a 282 ton towing capacity and 20,800 kW (28,300 hp) of power, and will be available to the French Navy as a multifunctional emergency tug.Designed to be multifunction…
Lewis Named Partner in MidAtlantic Engineering
MidAtlantic Engineering Partners (MidAtlantic), a civil, environmental, and marine engineering and surveying firm, is pleased to announce that W. Stuart Lewis, P.E. is a partner in the firm. Since joining MidAtlantic, he has successfully led the company’s Marine Services Division. Lewis joined MidAtlantic in February 2017, and since that time has developed and grown the Marine Services Division into…
SAAM to Buy 21 Starnav Tugs for $198M
SAAM's Towage Division has agreed to buy 17 tugs operating in Brazil from the Brazilian company Starnav. The deal also involves the purchase of four additional tugs currently under construction.SAAM CEO Macario Valdés said the deal was one of the largest transactions in SAAM’s history."The transaction was valued at US$150 million for the 17 active tugs, all state-of-the-art, flexible, high-capacity vessels.
Russia's Sovcomflot Plans to Sell Part of Its Fleet as It Grapples with Sanctions
Russia's leading shipping company Sovcomflot plans to sell part of its fleet on Friday, as it grapples with Western sanctions and seeks to repay outstanding loans.Sovcomflot has faced growing challenges in concluding charters as ports, end purchasers, marine insurers, and other freight companies pull back from Russian business amid sanctions imposed in response to Moscow's invasion of Ukraine. Lloyds List shipping newspaper reported…
Marco Polo Marine Wraps Buy of Taiwan-based PKR Offshore
Singapore-listed offshore services provider Marco Polo Marine has completed the acquisition of the offshore renewables service firm PKR Offshore.Marco Polo bought…
Irish Port Eyes Offshore Wind Opportunities. Taps Bechtel for Assistance
Shannon Foynes Port Company has selected Bechtel to update its Vision 2041 master plan to accommodate offshore and onshore investment within and near its harbor in Ireland. Bechtel will support the company in considering how to deliver significant growth and expansion of the port, including how it can support the offshore wind industry and the production of alternative shipping fuels.Shannon Foynes…
EDF Charters Fourth LNG Carrier from NYK
NYK-affiliated company France LNG Shipping has secured a long-term charter contract for a new liquefied natural gas (LNG) carrier with EDF LNG Shipping SAS. The newly built LNG carrier is scheduled for delivery in 2025 from Hyundai Samho Heavy Industries Co. Ltd. This is the fourth NYK vessel on a long-term time-charter contract with the EDF Group.The newly built LNG carrier will be propelled by a WinGD-built, dual-fuel slow-speed diesel engine.
Ocean Craft Marine Finds Great Lakes Region Ambassadors for Its Boats
Ocean Craft Marine, the manufacturer of Amphibious Rigid Hull Inflatable Boats (RHIBs), has signed a brand ambassador partnership with local Chicago-area boat enthusiasts Ted Widen and Mark Kaplan. Widen and Kaplan will represent Ocean Craft Marine in the Great Lakes region to increase brand awareness and provide sales and marketing of the AMP RHIBs to prospective customers in the Midwest."With a passion for the boating lifestyle…
Singapore Port Authority Says Tainted Bunker Fuel Came from UAE
Contaminated fuel supplied to some 200 ships in Singapore came from a tanker that loaded the oil from Khor Fakkan port in the United Arab Emirates, the Maritime and Port Authority of Singapore (MPA) said.MPA began investigations after it was notified on March 14 that a number of ships had been supplied with high-sulphur fuel oil (HSFO) containing high concentration levels of chlorinated organic compounds…
Stolt Tankers Adds Three Chemical Tankers
Stolt-Nielsen Limited announced on Friday that Stolt Tankers B.V. has entered into agreements to acquire three 33,600 dwt stainless steel chemical tankers built in Japan. The ships are expected to be delivered into Stolt Tankers’ fleet between July and September 2022.Stolt Tankers president, Lucas Vos, said, “This acquisition is an excellent opportunity for Stolt Tankers to secure competitively priced tonnage ahead of an expected cyclical upturn in the chemical tanker industry.
US Coast Guard Cutter Cuttyhunk Decommissioned
The U.S. Coast Guard Cutter Cuttyhunk (WPB 1322) was decommissioned Thursday during a ceremony held at Air Station Port Angeles that was presided over by Capt. Mark McDonnell, 13th Coast Guard District Chief of Response.Cuttyhunk was one of the Coast Guard's 37 remaining 110-foot Island-class patrol boats. The fleet of Island-class cutters is being replaced by 154-foot Sentinel-class cutters built by Louisiana-based Bollinger Shipyards.Built by Bollinger Shipyards in Lockport, La.
Contract Extension for DOF's 'Skandi Africa'
Norwegian subsea services DOF Subsea has won a contract extension for its Skandi Africa subsea construction vessel.The new commitment will now run until February…
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