Maritime Industry Top News
NAT Gets Finance for 3 Vessels
Nordic American Tankers (NAT) has entered into final agreements with a subsidiary of Ocean Yield ASA for the financing of the outstanding commitments of $39 million per ship, due on delivery.
CMA CGM Completes Sale of Los Angeles Terminal
The CMA CGM Group completed today the sale of a 90% equity interest in Global Gateway South terminal (GSS) in Los Angeles (United States) to EQT Infrastructure III…
IMO Assembly Elects New 40-Member Council
China, Greece, Italy, Japan, Norway, Panama, Republic of Korea, Russian Federation, United Kingdom, United States. Australia, Brazil, Canada, France, Germany, India…
BIMSTEC to Promote Coastal Shipping
Member States of BIMSTEC ( Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation ) met in New Delhi this week to discuss modalities for…
Bouchard's Fleet Expansion Continues
Bouchard Transportation Co., Inc. announced the new construction of ATB unit M/V Evening Breeze and Barge B. No. 252, which adds to the company’s fleet expansion plan that began in 2012. The M/V Evening Breeze is being constructed in Pascagoula, Miss. by VT Halter Marine, Inc., and is the sister vessel to ATB tugs M/V Denise A. Bouchard and M/V Evening Star. The Evening Breeze will be 4,000hp meeting U.S.
New Owner Takes Over at WESMAR
Bruce H. Blakey, founder and President of WESMAR (Western Marine Electronics), has sold his company to local businessman Roger Fellows, effective November 1, 2017. Blakey has sold the company to a new innovator whom he says is poised to take the company and its products to new heights. The name of the company will remain the same. Headquarter operations will remain in Woodinville, Wash. and employees will remain with the company, says its new owner and president Fellows.
MHI to Reorganize its Shipbuilding Business
Mitsubishi Heavy Industries, Ltd. (MHI) announced it will establish two new wholly-owned companies in conjunction with reorganization of its shipbuilding business.
Fugro Wins Work at US Offshore Wind Sites
Fugro said it has been awarded contracts by Ørsted to undertake geotechnical investigations at two large-scale offshore wind development sites in the U.S. Ørsted…
PanOcean Signs USD 1.8bln Deal with Brazil's Vale, Orders Six VLOCs
South Korean shipper Pan Ocean has won a 1.98 trillion won ($1.82 billion) contract to transport iron ore over a period of 27 years for Brazilian mining giant Vale, Reuters reported.
Hapag-Lloyd Completes Integration with UASC
Hapag-Lloyd successfully completed the integration of UASC into the Group on 30 November 2017. At a gathering of the shipping company’s global management in Hamburg…
Maersk Completes Hamburg Süd Acquisition
The transaction between Oetker Group and Maersk Line for Maersk Line's acquisition of Hamburg Süd, the German container line, was closed on 30 November 2017. On 1 December 2016…
Cosco, PSA Launch New Berth in Singapore
China's Cosco Shipping Ports (CSP) is launching a new berth at its joint venture container terminal - Cosco PSA Terminal (CPT) - with PSA Corporation in Singapore.
CMA CGM Merges Multimodal Subsidiaries
The CMA CGM Group announced it will merge its subsidiaries MacAndrews and OPDR effective January 1, 2018., in line with the Group’s strategy to develop its intra…
LNG Shipping on Recovery Path: Golar
The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving.
MOL Succeeds in 'Visualization at Sea'
Mitsui O.S.K. Lines (MOL) has announced a joint success with Japan Radio and JSAT MOBILE Communications in building a network that shares data recorded in Voyage…
All-Women Crew Tarini Enters Lyttelton
India's INSV Tarini entered Lyttelton port (New Zealand) on 29 Nov 2017, during it’s maiden voyage to circumnavigate the globe. This is the first-ever Indian circumnavigation…
BIMCO, WFP Issue Modernized Charter Party
BIMCO has together with the UN World Food Programme (WFP), updated and modernised the WORLDFOOD voyage charter party used by the UN organisation to transport food to emergency areas around the world.
Rising US LNG Exports Boost Interest in Natgas Futures
A surge in speculative interest in the U.S. liquefied natural gas (LNG) export boom has pushed open interest in natural gas futures to an all-time high, traders said on Thursday. Open interest, which measures the number of contracts outstanding, in the Henry Hub front-month hit 386,826 on the New York Mercantile Exchange on Wednesday, topping the previous high of 366,383 set in May 2016, according to Reuters data going back to 1990.
First Class Approved 3D Printed Ship’s Propeller Unveiled
The world’s first Class approved 3D printed ship’s propeller, the WAAMpeller, has been unveiled following rigorous testing verified by Bureau Veritas at Damen Shipyard Group’s headquarters in the Netherlands. The groundbreaking propeller is the result of collaboration between RAMLAB, Promarin, Autodesk, Bureau Veritas and Damen, who started pooling collective resources and knowledge to develop the world’s first 3D printed ship’s propeller seven months ago.
ABS: New Guidance on Energy Storage
ABS has published The ABS Guide for Use of Supercapacitors in the Marine and Offshore Industries (Supercapacitor Guide) to support safe application of hybrid power…