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17 Nov 2015
TORM Mulls 2016 NYSE Listing
Denmark-based tanker shipping company TORM A/S announced last week that it is considering the implementation of a new structure that would potentially include listing on the New York Stock Exchange and Nasdaq Copenhagen. If undertaken, the move is expected to be completed in 2016.
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13 Nov 2015
Beware the Dangers of Cat Fines
Horror stories frequently circle the maritime industry portraying tales of onboard damages induced by catalytic fines, or cat fines, used in oil processing. All cat fines that remain in fuel oil after centrifugal separation have the potential to cause abrasive wear and damage to the engine. Studies of high cylinder and piston ring wear cases show that cat fines particles embedded in the liner surface cause nearly 90 percent of the wear…
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13 Nov 2015
SFL Sells 1998-built Suezmax Tanker
Ship Finance International Limited (SFL) has agreed to sell the 1998-built Suezmax tanker Mindanao to an undisclosed unrelated third party, simultaneously terminating the corresponding charter party for the 17-year old crude oil carrier with a subsidiary of Frontline Ltd. The 159,211 dwt vessel is expected to be delivered to its new owner in December 2015. According to SFL, the sale is in line with its plans to divest older vessels in a strategy to renew and diversify its fleet.
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12 Nov 2015
ACL Acquires AEP River Operations
Marine transportation service company American Commercial Lines (ACL) announced it has acquired commercial inland barge company AEP River Operations from American Electric Power (AEP). AEP River Operations is based in Chesterfield, Mo., with operations in Paducah, Ky.; and Convent, Algiers and Belle Chasse, La., and delivers approximately 45 million tons of products annually. Mark Knoy, president and CEO of Jeffersonville, Ind.
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12 Nov 2015
Hapag-Lloyd Posts Third Straight Quarter of Profits
German continuer shipping company Hapag-Lloyd AG recorded its third consecutive profitable quarter, marked by higher transport volumes and reduced shipping costs in the third quarter of 2015. For the first nine months of 2015, the shipper posted a €6.8 billion revenue, up €1.9 billion compared to the same period a year ago, attributing much of the increase to its December 2014 merger with the shipping business of Cia. Sud Americana de Vapores SA (CSAV).
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11 Nov 2015
DSME Ordered to Halt Production After 2nd Fire
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) has received orders from government officials to cease production on five of its ships presently under construction…
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11 Nov 2015
Video: Dredgers at Work in Latin America
A major port in Latin America is in the midst of an expansion project to increase its container handling capacity and accommodate Post-Panamax vessels. Commissioned for this project are two Ellicott cutter suction dredges, which are both currently at work deepening the berthing area for the new terminal. The first Ellicott dredge, a Series 370 with a 300 x 250 mm pump and 328 kW of total installed power, has been working at this port for over six months.
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10 Nov 2015
Two More Secondhand Bulkers for Seanergy
Dry bulk shipper Seanergy Maritime Holdings Corp. has taken delivery of two secondhand Capesize dry bulk vessels, renamed M/V Gloriuship and M/V Squireship, to be employed in the spot market.
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09 Nov 2015
Maersk Orders BWTS for 7 Newbuilds
DESMI Ocean Guard A/S to supply ballast water treatment systems to a series of new container vessels to be built at COSCO Zhoushan shipyard in China, for Danish shipper Maersk Line. DESMI Ocean Guard announced that its RayClean ballast water treatment system (BWTS) has been selected for installation on Maersk Line’s series of new containerships to be built at COSCO Zhoushan Shipyard Co., Ltd. The order is for seven vessels each equipped with two RayClean 500 BWTS…
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03 Nov 2015
First LNG Containership Transits the Panama Canal
The world’s first LNG-powered container vessel, TOTE Maritime’s Isla Bella, transited the Panama Canal October 30, marking a milestone not only for the maritime industry, but also for the Canal as it nears the completion of its expansion scheduled to open in 2016, the Panama Canal Authority (ACP) announced. The 3,100 TEU capacity, 764-foot-long American-flagged Isla Bella is the first of two Marlin Class containerships contracted by TOTE Maritime and built by General Dynamics NASSCO.
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02 Nov 2015
Wreckage Confirmed to Be El Faro
Wreckage found on the ocean bottom off the Bahamas has been confirmed by the National Transportation Safety Board to be the lost cargo ship El Faro, which sank with 33 crew aboard October 1. Wreckage consistent with the 790-foot El Faro was discovered upright and intact by a U.S. Navy salvage team using side-scanning sonar equipment in the vicinity of the cargo ship’s last known position on October 31, according to NTSB. The wreck sits roughly 15,000 feet below the surface.
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29 Oct 2015
NAT Adds Two More Tankers
Nordic American Tankers Limited (NAT) has taken delivery of the second of two Suexmax tankers recently purchased secondhand. The shipper announced in July that it…
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28 Oct 2015
AET Orders Eight Tanker Newbuilds
AET, an owner and operator of petroleum tankers, has signed contracts worth approximately $500 million combined for the construction of eight new vessels. AET on Tuesday contracted Korean shipbuilder Samsung Heavy Industries Co Ltd (SHI) for four 113,000 dwt Aframax vessels to be delivered in 2018. The shipper then signed an additional contract Wednesday with another Korean builder Hyundai Heavy Industries Co Ltd (HHI) for two 114…
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27 Oct 2015
Australia Backs US in South China Sea
Though Australia is not involved in the United States’ current naval activity in the South China Sea, the country strongly supports the policy of freedom of navigation…
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26 Oct 2015
Fishing Crew Rescued After Engine Fire
A crew of 36 fishermen was rescued Sunday from a Papua New Guinean ship after an engine fire left the fishing vessel disabled roughly 200 miles off Tokelau, a territory…
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16 Oct 2015
Trelleborg Acquires US Marine Fender Company
Swedish based Trelleborg AB has finalized the acquisition of Maritime International, Inc., a U.S. based privately owned designer and manufacturer of marine fender systems and other quay accessories. The transaction will be consolidated as of October 15, 2015. Trelleborg said the bolt-on acquisition aims to strengthen its presence in berthing, docking and mooring in North America as part of its strategy to improve its position in attractive market segments.
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16 Oct 2015
Polar Code Will Force Big Operator Investment
Experts predict a higher level of shipping activity through polar sea routes for the years to come. Aiming to limit the impact of this activity on the region’s fragile environment, the IMO’s Polar Code sets standards that are likely to affect operators in a big way when they come into force in 2017. The Polar Code, adopted by the IMO via amendments to the SOLAS (Safety of Life at Sea) and MARPOL (Prevention of Pollution from Ships) Conventions…
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15 Oct 2015
Crowley Orders BWT System Retrofits
Crowley Maritime Corporation has entered into strategic partnership agreement with South Korean-based green technology developer Panasia Co., Ltd. for ballast water treatment systems to be installed during retrofitting of its ATB fleet. The agreement also includes technical services, engineering, integration, commissioning, training, scheduled delivery and spare parts. Panasia GloEn-Patrol treatment…
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15 Oct 2015
Lloyd's Register Acquires Fuel Testing Arm
Lloyd's Register announced it has acquired fuel testing service provider Guardian Marine Testing. The newly formed Lloyd's Register GMT Ltd combines Lloyd’s Register’s technical expertise with Guardian Marine Testing’s fuel testing operation to offer solutions to the challenges associated with the management of fuel quantity and quality. In addition to providing a range of marine testing services,…
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15 Oct 2015
Oil Leads Rotterdam’s 2015 Cargo Growth
The Port of Rotterdam reported a 5.4 percent increase in the amount of goods handled by the port for the first nine months of 2015, boosted largely by higher volumes of crude oil and oil product cargos. "The growth is almost entirely due to the increase in the handling of crude oil and oil products,” explained Allard Castelein, CEO Port of Rotterdam Authority. “Most other types of goods were handled in similar quantities as last year.