Marine Link
Wednesday, July 26, 2017

ESG Completes First OPC Milestone On Schedule, Within Budget

A depiction of the U.S. Coast Guard's Offshore Patrol Cutter design (CREDIT: ESG)

Panama City, FL, Eastern Shipbuilding has successfully completed its Initial Critical Design Review (ICDR) milestone with the United States Coast Guard on 21 July, 2017 for the Offshore Patrol Cutter (OPC) Program. ESG’s accomplishment is noteworthy as it occurred on schedule and within the budget constraints set forth by USCG acquisition, and cleared the way to proceed to the next critical milestone known as Final Critical Design Review (FCDR). This accomplishment comes after a weeklong group of discussions…

U.S. Sanctions Vens as Pressure Builds on Maduro

The Trump administration imposed sanctions on 13 senior Venezuelan officials as the country's opposition launched a two-day strike on Wednesday, heaping pressure on unpopular President Nicolas Maduro to scrap plans for a controversial new congress. Venezuela's long-time ideological foe the United States targeted the country's army and police chiefs, the national director of elections, and a vice president of the state oil company for alleged corruption and rights abuses. U.S. President Donald Trump spared Venezuela for now from broader sanctions against its vital oil industry, although such actions were still under consideration. U.S.

Samskip Scoops up Nor Lines

(Photo: Samskip)

European multimodal transport provider Samskip said it will acquire activities associated with Nor Lines AS, marking a major expansion of its shipping, transport and logistics businesses in Norway. Subject to approval by Norway’s competition authorities, Samskip has agreed with the DSD Group to acquire the activities of Nor Lines, which generate an average annual turnover of €110 million ($128.2 million). With its head office in Stavanger, Nor Lines is a diversified logistics business offering domestic and international services.

The Marshall Islands Move to Head of the Class

From left to right: Theo Xenakoudis, IRI Managing Director, Greece; Bill Gallagher, IRI President; and John Ramage, COO, IRI. (Phoo: IRI)

Leveraging 27 worldwide offices, the RMI Registry has been gaining market share year-on-year. Surging tonnage and a solid record for safety has pushed the registry to the head of the class. When the Marshall Islands Registry announced that it had become the world’s second largest – at a whopping 223,262,177 deadweight tons – the registry’s leadership was quick to emphasize quality as the leading reason. International Registries (IRI) President Bill Gallagher didn’t discount the importance of the deadweight milestone, but quickly moved the conversation towards why it had happened.

Op/Ed: The Real Story Behind the Attack on SMFF Regulations

Todd Schauer (Photo: ASA)

ASA Sets the Record Straight. The U.S. salvage industry came under attack at a recent Congressional hearing on May 3 by a special commercial interest that is promoting its own agenda. The American Salvage Association (ASA) intends to set the record straight. At the hearing, the attacking group made false allegations that the Salvage and Marine Firefighting (SMFF) resource providers are not willing or contractually obligated to respond and lack the resources to meet regulated response requirements. At the same hearing, this group also criticized the U.S.

Baltic Index Firm on Capesize Support

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, supported by higher rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.31 percent, at 980 points. The capesize index jumped 50 points, or 4.27 percent, to 1,221 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $332 to $9,547.

DP World Q2 TEU Count Soars 10%

file Image: CREDIT DP World

State-owned ports operator DP World on Tuesday reported second-quarter gross container volumes up 10.4 percent on a like-for-like basis and 10.7 percent on a reported basis. DP World handled 17.6 million twenty-foot equivalent units (TEUs) in the three months to June 30, the company said in a statement. Volumes in the second quarter were driven by improved trading conditions and market share gain from new shipping alliances, said DP World Chairman Sultan Ahmed bin Sulayem. Half-year gross container volumes rose 7.7 percent on a like-for-like basis and 8.2 percent on a reported basis.

Keppel, Sembcorp Merger on the Cards ?

Photo: Sembcorp Industries

A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS). DBS said that with orders at a trough and expectations for only a modest recovery, a merger of Singapore's two major rigbuilders could create a global giant that is more competitive and resilient. “A merger could make sense to further streamline their operations, achieve cost synergies and eliminate competition in the medium term,” DBS said.

Helix Energy Cuts Q2 Loss

Photo: Helix Energy Solutions

Oil service company Helix Energy Solutions has narrowed its loss in the second quarter of 2017 backed by increased activity of its well intervention business. Mainly North Sea operations helped narrow the firm’s losses. The group, which controls Aberdeen based Helix Well Ops and Canyon Offshore, reported a net loss of $22.9million for the first six months of the year, compared to $38.5million in the same period last year. It reported a net loss of $6.4 million for the second quarter of 2017 compared to a net loss of $10.7 million for the same period in 2016.

Höegh LNG Secures Financing for FSRU Unit

Photo:  Höegh LNG

Höegh LNG Holdings has announced that it has received commitment letters for a US$230 million debt financing for its eighth floating storage and regasification unit (FSRU). The Facility comprises a 12 year export credit agency (ECA) term loan of up to USD 150 million backed by Garantiinstituttet for Eksportkreditt (GIEK) and Eksportkreditt of Norway, and a 5 year non-amortising commercial bank loan of up to USD 80 million funded by ABN AMRO Bank, Danske Bank, Nordea and Swedbank.

ABS, Industry Partners to Advance Autonomous Shipping

Photo: ABS

ABS joined the Unmanned Cargo Ship Development Alliance to work with industry partners, including class organizations, shipyards, equipment manufacturers and designers to advance autonomous shipping. The design will integrate features of independent decision-making, autonomous navigation, environmental perception and remote control. “Increased digitization, advanced technologies and new levels of connectivity are changing the way the maritime industry operates,” says ABS Greater China Division President Eric Kleess.

Baltic Index Falls as Capesize Rates Sag

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday as rates for larger vessels dropped. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 12 points, or 1.22 percent, at 968 points. The capesize index lost 15 points, or 1.23 percent, at 1,206 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $108 at $9,439. The panamax index shed 33 points, or 2.69 percent, at 1,192 points.

Shanghai to Spend $740 million on Cruise Ship Park

A Shanghai district government plans to spend about 5 billion yuan ($739.97 million) to develop a cruise ship industrial park to house foreign firms that it hopes will help build China's first luxury passenger vessels, a local official said. China's government has earmarked cruise shipbuilding as a major objective in its "Made in China 2025" programme to upgrade its manufacturing and support jobs at its shipyards, as domestic demand for cruise trips increases 30 percent a year. Firms who set up shop in the new zone could expect financing support from banks and recently established government funds, Lei Shuguang, director on the administrative committee of Shanghai Baoshan Industrial Zone, told Reuters on Wednesday.

France to Nationalize STX if Italy Deal Fails

File Image (CREDIT: AdobeStock / (c) Burnel11)

French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until Thursday. The French state said on Wednesday it would nationalise the STX France shipyard if Italy does not accept its offer to split STX's capital equally, putting down a marker on the limits of economic liberalism under new President Emmanuel Macron. The threat raises the stakes in a standoff with Rome over the shipyard's fate, the only one in France with facilities large enough to build aircraft carriers.

Is China Shipbuilding Sinking into Tough Waves?

Photo: China Shipbuilding Industry Corp, Dalian Shipbuilding

The world’s largest shipbuilding nation China is facing some tough years ahead as new-vessel orders weaken and order backlogs decline, Caixin reported quoting China Association of the National Shipbuilding Industry (CANSI). According to the industry association, in the first half of 2017, new orders received by Chinese shipbuilders plunged by 29 percent year-on-year in terms of total estimated freight volume for the new ships, the report said. The new orders are totaling 11.51 million deadweight tons. Deadweight tonnage is how much a ship can safely carry, not the weight of the ship itself.

DP World Reports Q2 10.7% Gross Volume Growth

Photo: DP World Limited

DP World Limited handled 34.0 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2017, with gross container volumes growing by 8.2% year-on-year on a reported basis and 7.7% on a like- for-like basis, with second quarter growth rates accelerating to 10.7% year-on-year on a reported basis and 10.4% on a like-for-like basis, ahead of Drewry Maritime’s upgraded industry estimate of 4% throughput growth in 2017. The first…

Costamare Adds Three Vessels

Image: Costamare Inc.

Costamare accepted delivery of three second hand vessels during the last quarter ended June 30, 2017, said Gregory Zikos, Chief Financial Officer of Costamare. In a press statement he said that the vessels have been chartered for periods ranging from 5 to 7 years. "During the quarter we entered into debt financing agreements for two of them and we are into discussions regarding the debt finance of the third ship. As of today all of our new building program is fully funded with remaining equity commitments amounting to only US $ 2 million, due in 2018," he added.

Truman Completes Sea Trials

Photo: United States Navy

USS Harry S. Truman (CVN 75) returned July 25 to its homeport at Naval Station Norfolk for the first time in nearly a year, following the completion of sea trials. "Sea trials is a five-day underway that pushes the limits of the ship; a true shakedown," said Truman's Executive Officer Capt. Cassidy Norman. "Everything we've done for the past year has been building up to this moment. Team Truman navigated through the sea trials checklist completing a number of evolutions, including small boat recoveries…

Hyundai Merchant Marine Asia-US West Coast Volume Up by 77%

Graph: Hyundai Merchant Marine

Hyundai Merchant Marine (HMM) has announced that its Asia-US west coast (USWC) volume in June 2017 increased 77% year-on-year. According to PIERS Data, HMM’s Asia-USWC handling cargo rose year-on-year from 7,953 TEU/WK to 14,055 TEU/WK (up 77%) at the end of June 2017. Moreover, HMM ranked 4th in terms of market share, up from 12th the previous year. HMM’s Asia-all US route cargo handling also rose year-on-year from 11,626 TEU/WK to 17,291 TEU/WK (up 49%) in June 2017. Furthermore, HMM’s USWC market share has grown to 7.4%, up 3.4%p from the same month last year.

ReCAAP, OCIMF Sign Asian Anti-Piracy MoU

ReCAAP Information Sharing Centre Executive Director Masafumi Kuroki (L) and OCIMF Director Andrew Cassels affirm shared interest and collaboration with MOU. Photo provided by ReCAAP Information Sharing Centre

The safety of navigation is vital to the safety, security and economic activities of all stakeholders traversing sea routes in Asia—the region with some of the busiest seas in the world. Recognising this shared interest, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre and Oil Companies International Marine Forum (OCIMF) signed a Memorandum of Understanding (MOU) on July 24, 2017 in London to boost the fight against piracy and armed robbery against ships in Asia.

Abu Dhabi Ports: No Immediate Plans for a Listing

(Photo: Abu Dhabi Ports)

Abu Dhabi Ports has no plans to launch a public sale of shares in the short term, the chief executive of the state-owned company told Reuters on Tuesday. "There are no immediate plans to go public," Mohamed Juma al Shamisi said when asked if the company planned to sell shares and a subsequent listing. His comments came after Bloomberg News reported that Abu Dhabi Ports is considering an initial public offering, joining a growing list of state entities in the United Arab Emirates seeking to sell shares, citing people familiar with the matter.

US Navy Ship Fires Warning Shots near Iranian Vessel

A U.S. Navy ship fired warning shots when an Iranian vessel in the Gulf came within 150 yards (137 meters) on Tuesday in the first such incident since President Donald Trump took office in January, U.S. officials said. The last major incident was earlier in January, though there have been instances when a U.S. vessel fired a flare as well as an event in March when a U.S. Navy ship was forced to change course after multiple fast-attack vessels from the Islamic Revolutionary Guard came too close. In a statement, U.S. Naval Forces Central Command said the patrol craft, named Thunderbolt, fired the warning shots in front of the Iranian vessel after it ignored radio calls, flares and the ship's whistle.

Nakilat Ends H12017 with $112 Mln Net Profit

Nakilat's flagship, QMax Mozah. Photo: Qatar Gas Transport Company

Qatar Gas Transport Company (known as “Nakilat”, which means carriers in Arabic) recorded its financial results for the first half of the year ended June 30, 2017 with a net profit of QR 409 million ($112 million) compared to QR 501 million ($137 million) of the same period last year in 2016. The lower profit was mainly attributed to the lower number of charter hire days in the current period compared to the same period last year (2016 was a leap year), the effect of changing…

Certification for MOL Environmental Management System

Image: MOL

Mitsui O.S.K. Lines (MOL) has announced that on July 20, its core dry-cargo ship management company, MOL Ship Management  received a new certification of its Environmental Management System ISO14001: 2015 and Energy Management System ISO50001from Nippon Kaiji Kyokai (ClassNK) after undergoing stringent transition audit and renewal audit processes. MOLSHIP acquired ISO14001: 2004 and ISO50001: 2011 certifications at the same time from ClassNK in July 2014 . Since then, it has worked…

Nautical Institute Rolls Out Ice Navigator Scheme

Logo Image: The Standard Club, Nautical Institute

The Standard Club has advised its members that at the start of July the Nautical Institute launched its Ice Navigator Scheme. This scheme is designed to help meet the demand for properly trained officers with the skills and knowledge to handle a ship in ice. The scheme is designed to run in conjunction with the Polar Code and builds on STCW requirements. It focuses on the practical elements necessary to handle a ship and manage operations in ice covered waters worldwide; it is not limited to the Polar Regions. Participants in the scheme can be awarded Ice Navigator Level 1 or 2.

India: The Admiralty Bill 2017 Gets Upper House Nod

Indian Prime Minister, Narendra Modi. Photo: PIB

Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2017, introduced during the Winter Session of Indian Parliament came up for discussion in the Rajya Sabha (Upper House) and was passed unanimously by the house. The Bill aims to establish a legal framework for consolidation of related laws to replace the age old archaic laws with modern Indian legislation and to confer admiralty jurisdiction on all High Courts of the coastal states of the country. The bill was earlier passed by the Lok Sabha in March, 2017.

Engineering Entrepreneur Buys Wren Industrial

(Photo: Wren Industrial & Marine Fabrications)

Merseyside maritime company Wren Industrial & Marine Fabrications has been bought by Merseyside entrepreneur and former member of the Armed Forces Jonathan Willoughby. Bootle-based Wren Industrial has been run for 27 years by husband and wife team David and Helen Wren. It specializes in manufacturing doors, windows and hatches for ships and boats as well as welding and fabrication services primarily in the maritime sector. Wren’s clients include the Royal Navy, the Royal Fleet Auxiliary and ferry operators Stena and the Isle of Man Steam Packet Company.

BAE Systems Begins Building UK’s Next Warship

Image: BAE Systems

BAE Systems said it has begun to build the first of the U.K. Royal Navy’s new Type 26 Global Combat Ships. Sir Michael Fallon MP, U.K. Secretary of State for Defense, visited the builder’s Glasgow shipyard to press the button to officially commence production on the new warship, and during his speech revealed the vessel’s name: Glasgow. This ceremonial event follows the U.K Government’s recent award of a contract worth approximately £3.7 billion for the first three ships to be built at BAE Systems’ sites in Glasgow.

Study Examines Economic Impact of US Waterways

© Tak Inaba / Adobe Stock

A study unveiled today documents the contribution of the American tugboat, towboat and barge industry to the U.S. economy. The study, developed through a cooperative agreement between the American Waterways Operators (AWO) and the Maritime Administration (MARAD) and conducted by PricewaterhouseCoopers, explores the industry's economic contributions to employment, gross domestic product and taxes at the national and state levels; details the types and quantities of vital commodities transported on American waterways…

French and Filipino Firms Bid to Operate Bissau Port

French firm Necotrans and the Philippines' International Container Terminal Services submitted bids on Monday to operate Guinea Bissau's main port, the transport minister said, as the government looks to cede control to a private operator. The main port in the capital Bissau, which is small and can only be serviced at high tide by some cargoes, has been operated by a state agency ever since the government stripped Portugal-based operator Tertir of the concession rights in 1999. "The French company Necotrans and the Philippines' ICTSI are neck-and-neck to exploit the commercial port of Bissau," Transport Minister Fidelis Forbes told reporters in Bissau. The government will select the operator next month, he said.

Baltic Index Flat After Nine Winning Sessions

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was flat on Monday, as gains across capesize vessels were offset by lower rates for panamaxes. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was unchanged at 977 points, after gaining for nine straight sessions. The capesize index climbed 17 points, or 1.47 percent, to 1,171 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $45 at $9,215.

Six Countries Vie for US$2 Bln Philippines LNG Hub

Image: PNOC

State-run Philippine National Oil Company (PNOC) has shortlisted six countries and will choose one from them as a partner for its planned US$2 billion receiving and distribution facility for imported LNG, Reuters reported. The company has received six proposals from China, Indonesia, Japan, Singapore, South Korea and the United Arab Emirates (UAE) to co-build the LNG hub, PNOC’s head of LNG team and technical adviser Arwin Ardon quoted as saying. He said all proposals include storage, liquefaction, regassification, a power plant, and distribution facility as part of the LNG terminal.

Songa Offshore Wins in DSME Arbitrations

Songa Equinox. Photo: Songa Offshore

Songa Offshore had submitted its defence to the claims asserted by Daewoo Shipbuilding & Marine Engineering (DSME) in arbitrations related to the Songa Equinox, the first Cat D rig, and the Songa Endurance, the second Cat D rig, in which DSME asserted aggregate claims of USD 329 million, along with a request for repayment of liquidated damages in a total amount of USD 43.8 million, totalling to USD 372.8 million. The claims asserted related to alleged cost overruns and additional…

HMAS Arunta Returns Home

HMAS Arunta's crew lines the deck in 'Procedure Alpha' as the ship returns to her home port of Fleet Base West, Rockingham after completing a nine-month deployment to Operation MANITOU. Photo: Royal Australian Navy

HMAS Arunta has sailed into her home port of Fleet Base West in Rockingham, Western Australia, after completing the longest Middle Eastern deployment of an Australian Navy vessel since the first Gulf War. Senator for Western Australia, Linda Reynolds; Commander Australian Fleet, Rear Admiral Stuart Mayer; and family and friends of the ship’s company welcomed the Anzac class frigate home after her nine-month deployment to Operation MANITOU. During her deployment, Arunta intercepted…

President Trump Commissions USS Gerald R. Ford

Photo: United States Navy

President Donald J. Trump commissioned the aircraft carrier USS Gerald R. Ford (CVN 78) at a commissioning ceremony July 22. A commissioning is a day of celebration, and honors the dedication, team work, and collaboration of Sailors, legislators, shipbuilders, program managers, and the ship's sponsor in delivering the ship to the fleet. Trump landed on the flight deck in Marine One and was greeted by Secretary of Defense James Mattis, Acting Secretary of the Navy Sean Stackley, Chief of Naval Operations Adm. John Richardson, and USS Gerald R. Ford Commanding Officer Capt. Rick McCormack.

Truman Departs for Sea Trials

Photo: United States Navy

USS Harry S. Truman (CVN 75) departed Norfolk Naval Shipyard (NNSY) for Sea Trials July 21 following a 10-month Planned Incremental Availability (PIA). Truman's Commanding Officer, Capt. Ryan B. Scholl, praised ship forces, NNSY and civilian contractors for working together to stay on schedule and making an on-time departure from the shipyard. "The number one goal for this ship over the last year was making it better than when it arrived here," said Scholl. "This excitement, enthusiasm and teamwork is what propelled us out of the shipyard.

Certifying Spaceship Earth

Former DNV GL President and CEO, Henrik O. Madsen (centre) presents the testimonial to UN Secretary-General António Guterres as Vice-Chair of the UN Global Compact Board, Sir Mark Moody-Stuart looks on. Photo: Mads Øvlien/DNV GL

Former DNV GL President and CEO, Henrik O. Madsen has presented UN Secretary-General António Guterres with a testimonial attesting to DNV GL's assessment of the UN Sustainable Development Goals (SDGs) at the UN Headquarters in New York this week. The presentation took place during a Board meeting of UN Global Compact, the world's largest corporate sustainability initiative, with over 9000 member companies. The Future of Spaceship Earth report is DNV GL's long term forecast of the state of our planet in 2050.

Port Cooperation and Maritime Security in Belize

Photo: International Maritime Organization (IMO)

Identifying and dealing with potential threats to port security operations was at the core of a three-day workshop in Belize City, Belize (18-20 July). The event took a closer look at security needs and associated risks. Through interactive presentations and discussions between participants the workshop helped identify opportunities for increased collaboration between government agencies and port owners/operators as well as assessing port security training priorities. The workshop…

Tanker with Disputed Kurdish Oil Reappears off Malta

The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30, when it was chartered by oil trader Vitol carrying Iraqi Kurdish crude oil, Reuters ship-tracking showed on Friday. The tanker had been heading to eastern Canada to discharge the cargo at the end of June when the Federal Court of Canada issued a seizure order for the cargo at the request of Iraq's oil ministry. Iraq alleges the cargo was unlawfully misappropriated by the Kurdistan Regional Government (KRG) and sold to Vitol. Along with the seizure request made to Canada, the ministry filed a separate claim against Vitol and two subsidiaries for $32.5 million. The tanker appears empty, according to the draft on the ship tracking system.

Activists Protest near Oil Rig in Norway's Arctic Sea Area

Environmental activists protested on Friday near an offshore rig contracted by Statoil in the remote Norwegian Arctic, where the firm is looking for oil and gas deposits. The Nordic country wants to open up northern areas for exploration to offset declining production in the south. Oil and gas production is Norway's leading industry, accounting for 20 percent of its economy. From the Greenpeace Arctic Sunrise ship, 11 campaigners launched inflatable boats carrying banners opposing Statoil's Songa Enabler oil rig, 275 km (170 miles) north of the Norwegian coast, in the Arctic Barents sea. One of the banners read "“The People Vs. Arctic Oil”.

A Significant Date for Subchapter M

© hildeanna / Adobe Stock

July 20 marks a milestone in Subchapter M implementation. Towing vessels with keels laid or major conversions on or after July 20, 2017 are required to meet 46 CFR Subchapter M and obtain a Certificate of Inspection (COI) prior to operating. Additionally, starting July 20, 2018, a portion of existing towing vessels will have one year to meet all of Subchapter M and obtain COIs. By July 19, 2022, 100 percent of the towing vessels must have valid COIs on board. Owners or managing…

Baltic Index Win Streak at 9 Straight Days

File Image (CREDIT: AdobeStock / Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the ninth straight session, on higher rates for capesize and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.35 percent, at 977 points, touching its highest in more than two months. The capesize index climbed 61 points, or 5.58 percent, to 1,154 points. Capesize dry bulker earnings are finishing the week on a firm note with assessments lifting up to about $9…

VLCC Outlook Brightens Slightly

file Image: CREDIT EuroNav

Rate correction likely after low S-Oil charter drags market. Freight rates for very large crude carriers (VLCCs) could see a small respite next week, building on the slight improvement seen in the last two days although sentiment is likely to remain pessimistic of any real recovery, brokers said on Friday. "There was a large drop on Tuesday when South Korea's S-Oil fixed at 45.50 (on the Worldscale measure). But rates are now correcting," a Singapore-based supertanker broker said.

Schlumberger to Acquire Majority Stake in Eurasia Drilling

Photo: Eurasia Drilling Company

Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV. The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of the deal were not disclosed since it is subject to approval. The agreement, if approved, would extend a strategic alliance with Schlumberger that dates to 2011, Eurasia added. EDC is an onshore and offshore drilling and well services contractor.

Rotterdam Port Throughput Up by 3.9%

Photo: Kees Torn, Port of Rotterdam

With an increase in throughput of 3.9%, the port of Rotterdam can look back a good first half year. There was growth in eight of the ten market segments. The only falls were in the volumes of mineral oil products and other liquid bulk. In particular, the volume of containers handled (9.3% in TEU, 10.4% in tonnes) was the determining factor for the overall growth in throughput. Dry bulk increased (5.2%), liquid bulk decreased slightly (-1.0%) and break bulk was very much on the rise (10.8%). A total of 238.0 million tonnes of goods were handled in the first half of the year.

Australia Conducts Amphibious Task Group Drill

 Soldiers from 2nd Battalion, Royal Australian Regiment disembark a Landing Craft from HMAS Canberra during a major amphibious beach landing operation during Exercise Talisman Saber. Photo: Royal Australian Navy.

Australia’s amphibious capability was put to the test recently as the Amphibious Task Group Headquarters took charge of the largest amphibious assault conducted by an Australian force for 70 years as part of Exercise TALISMAN SABER. The assault, led from amphibious sssault ship HMAS Canberra, was a significant milestone in the Australian Defence Force’s development of a high end amphibious warfare capability. The Australian and New Zealand Amphibious Ready Group, consisting of HMA Ships Canberra and Choules and the Royal New Zealand Navy’s HMNZS Canterbury…

Shipwreck Recovery to Commence in August

Photo: Endurance Exploration Group, Inc.

Florida-based Swordfish Partners and Deep Blue Exploration have contracted Blue Water Ventures International to recover potentially valuable artifacts and coins from a shipwreck site off the coast of North Carolina the parties believe to be the 1838 sinking of the steam paddle wheeler, Pulaski. Endurance discovered the site of the loss and the shipwreck is currently subject of a Swordfish Partners admiralty claim in the U.S. District Court for the Middle District of Florida, Tampa.

Cargotec Sales Figures Plummet

Photo: Cargotec

Cargotec Corporation said that the orders received for H1 for the period of January-June 2017 decreased 4 percent and totalled EUR 1.7bln (USD 1.9bln). The total sales declined 5 percent and totalled EUR 1,638 for the period. However, Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million). Cargotec's CEO Mika Vehviläinen said: "The development of our business continued to be positive during the second quarter of 2017.

US Navy to Commission Gerald R. Ford

Photo: United States Navy

The Navy will commission its newest aircraft carrier, the future USS Gerald R. Ford (CVN 78), during a 10 a.m. EDT ceremony Saturday, July 22, at Naval Station Norfolk. USS Gerald R. Ford (CVN 78) is the lead ship of the new Gerald R. Ford class of aircraft carrier, the first new class in more than 40 years and will begin the phased replacement of Nimitz-class carriers when the ship is commissioned. CVN 78 honors the 38th president of the United States and pays tribute to his lifetime of service in the Navy, in the U.S. government and to the nation.

Oil Spill Response Workshop in Senegal

Photo:  International Maritime Organization (IMO)

The use of oil spill dispersants, which can be used to break down an oil slick into smaller droplets as part of response efforts, is the subject of a workshop taking place in Dakar, Senegal (17-20 July). Participants from 11 countries (Benin, the Congo, Côte d’Ivoire, Democratic Republic of the Congo, Gabon, Guinea, Guinea-Bissau, Mauritania, Sao Tome and Principe, Senegal, Togo) are attending the sub-regional workshop, which will analyse national policies on dispersant use and provide training on further development and implementation of these policies.

India Government Sops for Ship-Repairing Facilities

Indian Prime Minister, Narendra Modi. Photo: PIB

In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast  at present in the country.

Duke Receives Funding for New Research Vessel

Duke University said it has received $11 million for the construction and operation of a new state-of-the-art vessel that will expand teaching and research capabilities at its marine lab. The gift to the Nicholas School of the Environment from the Grainger Family Descendants Fund, a donor-advised fund at The Chicago Community Trust, provides $5 million to build the new 68-foot oceangoing research vessel and an additional $6 million to support operating costs. The ship will have wet labs and dry labs, oceanographic equipment, a galley and sleeping quarters. It will be an oceangoing classroom to train undergraduate and graduate students in oceanography and marine biology at the Duke Marine Lab at Beaufort, N.C.

DNV GL Updates NOx TIER III Compliance Guide

Photo: DNV GL

Classification society DNV GL has developed a new brochure to offer a set of best practices for the design of ships subject to NOx Tier III requirements. It also offers guidance on the considerations that should be taken into account at the newbuilding stage. To ensure the success of any newbuilding plan, shipowners should carefully consider the future operation of their vessels in the newbuilding planning stage, including the implications of the different technological solutions for reducing NOx emissions and how to fulfil the NOx Tier III requirements.

Baltic Index Rises on Stronger Capesize Rates

File Image (CREDIT: AdobeStock / (c) Lidian Neeleman)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday supported by robust demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, increased 16 points, or 1.69 percent, to 964 points. The capesize index jumped 65 points, or 6.32 percent, to 1,093 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $363 to $8,774.

Wartsila Order Intake Beats Forecast as Marine Market Revives

file image: Wartsila

Finnish ship technology and power plant maker Wartsila reported on Thursday a bigger-than-expected rise in quarterly order intake, saying the market demand had improved for its marine solution business. * Bookings of new orders in the second quarter increased 14 percent from a year earlier to 1.36 billion euros ($1.57 billion), beating analysts' average expectation of 1.22 billion in a Reuters poll. * Adjusted operating profit rose 3 percent from a year ago to 126 million euros, roughly in line with the market consensus.

PetroChina Unloads First US SPR Cargo

File Image (CREDIT: AdobeStock / (c) Carabay)

PetroChina is this week unloading the first Chinese purchase of crude oil from U.S. strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources. The move comes as China, the world's No.2 oil consumer, steps up imports from the Americas to diversify supply sources. PetroChina unit, PetroChina International America Inc, bought the 550,000-barrel cargo of Bryan Mound sour crude in a sale from U.S. strategic petroleum reserves in March for $28.8 million. Supertanker Cosrising Lake <C}KV7309834335>, chartered by PetroChina, is unloading the U.S.

Keppel Posts Lower Q2 Profit, Warns on Rig Outlook

Q2 profit S$161 million versus S$205 million year ago; O&M division net order book at S$3.4 billion. Singaporean conglomerate Keppel Corp posted a 21 percent drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market. The conglomerate and its smaller cross-town rival Sembcorp Marine have been hit by an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing new orders with oil prices expected to stay lower for longer. "Despite some pick-up in activity in the offshore market, the general consensus is that, with the prevailing uncertainty in the oil market, and oversupply in the jackup market, a quick recovery is unlikely," said CEO Loh Chin Hua.

Paragon Offshore Comes Out of Bankruptcy

Photo: Paragon Offshore

Paragon Offshore Group announced that it has emerged from bankruptcy after completing a restructuring that eliminated USD 2.3 billion of debt. The successor company to Paragon Offshore PLC , which filed for bankruptcy in February 2016 with USD 2.96 billion of debt, also named a new board of directors. The search for a new CEO is underway. "The plan of reorganization under chapter 11 of the United States Bankruptcy Code substantially de-levers the company’s ongoing business, eliminating  approximately $2.3 billion of secured and unsecured debt.

Antwerp Port Container Freight Up by 2.5%

Photo: Port of Antwerp

The port of Antwerp handled 111,385,518 tonnes of freight during the first six months of this year, 2.8% more than in the same period last year. Container freight once more performed well after a number of exceptional years, with an increase of 2.5% in terms of tonnage and 1.9% in TEU. Liquid bulk, a regular climber, finished 1.8% up at the end of June. After the previous record years these figures inspire further confidence. “We have achieved them against a background of already good performance,” declared Port Authority CEO Jacques Vandermeiren.

UK Ship Register Modernization Begins

Photo: UK Chamber of Shipping

The UK’s Maritime & Coastguard Agency (MCA) is modernising the way the UK Ship Register operates and a number of new initiatives are in the works that could help the red ensign become more commercial and internationally competitive, says a report from UK Chamber of Shipping. The MCA is considering increasing the fee structure for the UK Ship Register to above 2016 levels, attendees heard at the All-Party Parliamentary Group for Maritime and Ports on Monday. The registry is working to improve the response time for enquiries to one working day…

Inland Waterways Authority of India to Raise USD 103 mln Through Bonds

Work at Dhubri Ro-Ro Terminal at Guwahati. Photo: Inland Waterways Authority of India (IWAI)

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Revalidation of permission to raise Extra Budgetary Resource (EBRs) of INR 660 crore (USD 103 mln) as Government of India Bonds by Inland Waterways Authority of India (IWAI) in 2017-18. The proceeds from the bonds will be utilized by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016). Funds received through issue of bonds will be used exclusively for capital expenditure to improve infrastructure funding.

Baltic Index Gains for Seventh Straight Session

© bergamont / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for seventh session in a row on Wednesday supported by stronger demand for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 16 points, or 1.72 percent, to 948 points. The capesize index climbed 44 points, or 4.47 percent, to 1,028 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $240 at $8,411.

Russian Think Tank: Oil Exports to Decline in 2017

© Mikhail Perfilov / Adobe Stock

A think tank that advises the Russian government on taxes and energy-related issues said on Wednesday it expects the country's oil exports to fall this year thanks to a global deal to cut output, contrasting with official forecasts for a rise. Vygon Consulting said in a presentation to reporters that oil exports this year are seen declining by 0.7 percent to 252.5 million tonnes (5.1 million barrels per day) from around 255 million tonnes in 2016, a record high. The Energy Ministry forecasts Russian crude oil exports this year at 257 million tonnes.

Two Frenchmen Investigated over 2002 Malaysia Submarines Deal

Two French former defence industry executives have been placed under preliminary investigation as part of a probe into the 2002 sale of submarines to Malaysia, an official in the French judiciary said on Wednesday. The source said Philippe Japiot and Jean-Paul Perrier, former executives at Thales and DCNS, had been placed under investigation as part of a long-running probe into alleged kickbacks from that Malaysian submarines deal in 2002. Japiot and Perrier deny any wrongdoing, French media reports said. Reuters was unable to immediately reach either individual. Being a target of a preliminary investigation or a formal investigation in France does not necessarily lead to a trial.

LR to Oversee Testing of Coldharbour’s BWTS

Pictured (L-R): Nick Brown, Marine and Offshore Director, Lloyd’s Register and Andrew Marshall, Chief Executive, Coldharbour Marine. (Photo: Coldharbour Marine)

U.K.-based manufacturer of ballast water treatment systems based on unique inert gas technology Coldharbour Marine said it has signed a contract with Lloyd’s Register (LR) to oversee the complete range of tests required by the U.S. Coast Guard (USCG) in its type approval process. LR has Independent Laboratory Approval from the USCG and will work closely in the type approval tests with Marine Eco Analytics (MEA), a test laboratory in the Netherlands. Revised and more comprehensive…

DMCA Shares Maritime Experience with Abu Dhabi

Photo: Dubai Maritime City Authority (DMCA)

The Dubai Maritime City Authority (DMCA) shared its renowned experience in implementing world-class maritime registration and licensing services with the Department of Municipal Affairs and Transport in Abu Dhabi (DMAT) during their recently held meeting. Both parties also exchanged expertise to achieve their common goals of further improving the marine licensing system according to the highest international standards and reinforcing the UAE’s position as one of the most important maritime and logistics capitals in the world.

Samsung Heavy to Cut Its Workforce

File Photo: Samsung Heavy Industries

South Korea’s shipbuilder Samsung Heavy Industries (SHI) is looking to further cut its workforce,  and have employees return part of their salaries in order to cut costs, according to Yonhap News Agency. SHI unveiled a self-restructuring program that centers on cutting the workforce and having executives return part of their salaries last year, in order to tide over a protracted slump in the shipbuilding sector. The report said that Samsung Heavy was forced to reduce its workforce by 1,500 in 2016 through an early retirement scheme.

Piracy Down by 22% in H1, Says ReCAAP

Map: Location of incidents

A total of 36 incidents of piracy and armed robbery against ships (comprising 30 actual incidents and six attempted incidents) were reported during January-June 2017 in Asia, said a report by Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia Information Sharing Centre (ReCAAP ISC). The total number of incidents reported during January-June 2017 has decreased by 22% compared to the same period in 2016. A total of 46 incidents were reported during January-June 2016.

UNITAS 2017 Naval Exercise Begins In Peru

Photo: U.S. Navy photo

Naval maritime forces from 19 countries are gathering in Lima, Peru, to kick off the 58th iteration of the annual multilateral exercise UNITAS. The meeting will conclude on July 26. This year's exercise will be hosted by Peru and commanded by Peruvian navy Rear Adm. Alberto Alcala. Participating countries include the United States, Peru, Brazil, Paraguay, Argentina, Australia, Chile, Colombia, Dominican Republic, Ecuador, Guatemala, Honduras, Indonesia, Italy, Panama, Mexico, Spain, Canada, and the United Kingdom. While participating in UNITAS 2017, U.S.

IMO for Implementing the Sustainable Development Goals

Photo:  International Maritime Organization (IMO)

International Maritime Organization (IMO) has a key role in implementing a number of UN Sustainable Development Goals (SDGs) which relate directly or indirectly to the oceans, protection of the environment and the maritime industry. How to support the 2030 Agenda for Sustainable Development and implement the UN SDGS is therefore a key theme which underpins the work of IMO's Technical Co-operation Committee, which oversees IMO's integrated technical co-operation programme (ITCP). The Committee is meeting for its 67th session (17-19 July).

India Approves Major Port Authorities Bill

Indian Prime Minister Narendra Modi. Photo: Press Information Bureau

The government of India has approved a draft bill to empower 12 major ports in India by providing them full autonomy in decision-making for greater efficiency. According to Union Minister of State for Shipping Mansukh Lal Mandaviya, the Major Port Authorities Bill, 2016 once enacted, would replace the Major Port Trusts Act, 1963. "With the growth and development of private ports, the major ports are facing severe competition and difficulties in implementing the changes which may help them compete in the evolving market conditions.

Bureau Veritas Approves Wison's W-FSRP Concept

Photo: Wison

Wison Offshore & Marine said its newly-developed floating storage regasification and power generation barge (W-FSRP) has received Approval in Principle from Bureau Veritas. W-FSRP integrates functions of LNG loading and storage facilities, regasification and power generation. Wison and Bureau Veritas have completed the validation for the specified design of 50MW FSRP this time. As the turnkey service provider for the world’s first FLNG and FSRU barge,Wison built on its rich expertise in floating LNG facilities to provide the LNG industry with innovative solutions…

Baltic Index Advances on Firm Capesize Demand

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 20 points, or 2.19 percent, at 932 points. The capesize index gained 51 points, or 5.47 percent, to 984 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $391 at $8,171.

Yang Ming to Float 500 mln Shares

Photo: Yang Ming Marine Transport

The Taiwanese ocean carrier Yang Ming Marine Transport will make a public offering of 500 million shares as part of the company's ongoing recapitalization plan, the Taiwanese ocean carrier said in a statement . It will offer the shares to existing shareholders, Yang Ming employees and the general public as part of the company's ongoing recapitalization plan. "As the subsequent round of private offering continues with amounts pledged exceeding the first round, the Board of Directors of Yang Ming on July 14…

AHHI Insures 1,900 Vessels in First Year

Photo: American Hellenic Hull Insurance

Cyprus-based American Hellenic Hull Insurance (AHHI) surpassed key targets during its first year of operation: 1,900 insured vessels, written premium income exceeded $10 million and covered 35 million GT on 100% basis, said a press statement. During its latest Board meeting in June 2017, American Hellenic Hull Insurance Company appointed two new Directors, Angelos Kostakos of Oceanstar Management Inc. and . Panagiotis Christodoulatos of Ikaros Shipping & Brokerage Kostakos is Legal, Insurance and Claims Director of Oceanstar Management Inc.

APL Reports 48% CO2 Emission Reduction in 2016

Photo: APL

APL has announced its highest recorded fleet carbon dioxide emissions reduction of 48 percent in 2016, compared to its base level in 2009. Verified by Lloyd’s Register Group according to the Clean Cargo Working Group (CCWG) verification protocol and ISO14064-3:2006 standard, this achievement marks APL’s seventh consecutive year of improvements. “APL is pleased to register our best carbon reduction performance as yet, improving our fleet emission level by about 3 percent, versus our reduction in 2015.

The Strong and Silent Type

Derecktor Shipyard General Manager Micah Tucker and Project Manager Joe Goodspeed shaping the Keel for the first Harbor Harvest Hybrid.

Mapping and shaping the growth of marine hybrid means many things to different stakeholders. The journey leads us all to the same place. If you follow the advancements in automotive design, the term or tag “hybrid” has come to define the alternative energy movement on our roads and highways. HEV autos have moved past Ford and GM in Detroit and into the hands of contemporary entrepreneurs and inventors the likes of Tesla’s Evan Musk or Dr. Victor Wouk. BMW, Ferrari, Bentley and…

Researchers Study Hull Biofouling and Spread of Invasive Species

Photo: Subsea Industries

A new study seeks to determine the extent to which biofouling on ships’ hulls is contributing to the spread of invasive aquatic species in the Mediterranean Sea – a phenomenon commonly associated with ship ballasting operations. According to recent research published by Tel Aviv University’s School of Zoology, half the ships passing along the Mediterranean coast of Israel are carrying invasive ascidians, presenting a global threat to ecosystems around the world. TAU’s Dr. Noa Shenkar…

ABS Updates Advisory Ahead of 2020 Global Sulfur Cap

ABS said it has updated the ABS Advisory on Exhaust Gas Scrubber Systems (Scrubber Advisory) to help industry prepare for IMO’s 2020 global sulfur cap. Central to the impending 2020 global sulfur cap are requirements to reduce the sulfur oxide (SOx) emissions from ships. Installation of exhaust gas cleaning systems (EGCS), commonly referred to as scrubbers, is a potential solution for owners looking to comply with the upcoming requirements. This updated Advisory includes background on air emission regulations and explores the different types of available scrubber technologies along with the associated installation and operational challenges for each.

GOC, Nigerian Army 81 Division Visit to DG, NIMASA

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside receiving a plaque from the General Officer Commanding (GOC) 81 Division of the Nigerian Army, Major General Peter John Dauke when the GOC paid a courtesy visit to the NIMASA DG at the Agency’s headquarters in Lagos. (Photo: NIMASA)

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed the strategic importance of security agencies to the achievement of safe and secure shipping and a viable and vibrant maritime sector for the country’s benefits. The Director General who stated this while playing host to the General Officer Commanding (GOC) 81 Division of the Nigerian Army, Major General Peter John Dauke at the Agency’s Headquarters in Lagos said that as the Agency strives to achieve a secure maritime environment…

StormGeo Receives EU MRV Certification

StormGeo’s shipping division (formerly AWT) has received its certification as an EU MRV supplier by Verifavia Shipping. The European Union’s decision to monitor CO2 emissions for most vessels in excess of 5000 gross tons affects owners or vessel managers with ships that are calling on ports in EU member states. The EU requires ship-specific monitoring plans to be in place by August 31, 2017, including being MRV compliant for Monitoring, Reporting and Verification. StormGeo's shipping division (formerly AWT) has been collecting data, monitoring data and reporting data on fuel consumption and emissions for over twenty years. More than 60,000 voyages utilized StormGeo’s methods of collecting and reporting data in 2016.

Smaller Tonnage Buoys Baltic Index

File Image: a handy sized bulk carrier (FedNav)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, tracking gains across panamax and smaller vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.33 percent, at 912 points. The capesize index was flat at 933 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $62 to $7,780. The panamax index was up 29 points, or 2.47 percent, at 1,202 points.

Japan's Top 3 Shippers Sail to Profit in Q1

File Photo: Nippon Yusen Kaisha (NYK Line)

The healthy international trade and cost cutting measures augurs well for Japan's to three marine shippers -  Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha - reported Nikkei. The report said that the three companies are expected to post a group pretax profit for April-June, the first time in seven quarters. According to the report, Mitsui O.S.K.'s pretax profit likely tripled on the year to around 2 billion yen ($17.7 million), while Nippon Yusen's is seen reaching about 5 billion yen after a year-earlier pretax loss of 9.9 billion yen.

S. Korea's Top Three Shipyards Look Bullish

File photo: Hyundai Heavy Industries

With a slew of contracts to be signed soon  South Korean shipyards are expected to clinch a decent number of new orders during the second half of the year, Yonhap reported quoting  industry sources. Hyundai Heavy Industries (HHI) and its affiliates have secured a series of fresh contracts, with their new orders reaching US$4.2 billion for 72 ships in the first six months of the year. In the January-June period, Samsung Heavy Industries (SHI) won $4.8 billion worth of orders to build 13 ships, including two offshore plants.

China Acquires Global Ports: FT

File photo: China COSCO Shipping

With the aim to dominate maritime industry China has been acquiring overseas ports with huge investments which crossed USD 20 bln last year, Financial Times reported. Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power, says the report. China is aggressively pushing its  “One Belt One Road”, a grand scheme to win diplomatic allies and open markets in around 65 countries between Asia and Europe. It is pushing ahead with plans to open new shipping routes through the Arctic circle, the report said.

Egypt to Establish USD 4bln Petrochemical Complex in Suez

Photo: Suez Canal Authority

Egyptian Ministry of Petroleum entered in a partnership with the Ministry of Public Business Sector to establish a petrochemical plant in Suez governorate at a total cost exceeds $4 billion, Zawya reported quoting Petroleum Minister Tarek el-Molla. The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, el-Molla added. The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.

Solstad Farstad Sells 2010-Built AHTS

Far Shogun. Photo:  SolstadFarstad ASA

Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway. The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced. "Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. The delivery of the anchor handling tug and supply vessel Far Shogun to the new owner took place on Thursday, July 13," said the company.

Tidewater Reorganization Gets Court's Okay

Tidewater Logo by Tidewater Inc

Tidewater, one of the world's largest offshore vessel owners, said that a court in Delaware approved the company's plans for a restructuring has, which would eliminate $1.6B in debt. The US-based owner of one of the world’s largest fleets of OSVs will be able to recapitalise and refinance debt on its balance sheet. "We are very pleased that the court has confirmed our Plan within a relatively short time frame," said Jeffrey M. Platt, Tidewater's President and Chief Executive Officer.

US Navy to Commission John Finn Today

Photo: United States Navy

The Navy will commission its newest guided-missile destroyer, the future USS John Finn (DDG 113), during a 10 a.m. HAST ceremony Saturday, July 15, at Joint Base Pearl Harbor-Hickam, Hawaii. The new destroyer honors Chief Aviation Ordnanceman John Finn, who received the Medal of Honor for heroism during the first attack by Japanese airplanes at Pearl Harbor. While under heavy machine gun fire, Finn manned a .50-caliber machine gun mounted on an instruction stand in a completely exposed section of the parking ramp. Wounded multiple times, he had to be convinced to leave his post.

Acorus Denied Access to Paris MoU Region

Photo: Paris MoU

M/V Acorus vessel was detained in Port of Asprogirpos (Elefsis) - Greece on 6 July 2017. This is the third detention in the Paris MoU region within the last 36 months. The ship flies the flag of Moldova Republic, which is black on the current Paris MoU WGB list. "Therefore under the provisions of section 4 of the Paris MoU, Article 16 of EU Council Directive 2009/16/EC, the ship will be refused further access to any port and anchorage in the Paris MOU region, except a port and anchorage of the ship’s flag State," said a release from  Paris MoU.

Asia Tankers-VLCC Rates Under Pressure on Oversupply

File Image: CREDIT EuroNav

Charterers set to split VLCC cargoes if owners push rates higher. Freight rates for very large crude carriers (VLCCs) are coming under pressure from a build up in ships waiting for new charters and depressed rates in smaller tanker sizes, brokers said on Friday. "At the slightest attempt by owners to push rates higher, charterers can split the cargo into Suezmax cargoes for the same rate," an European supertanker broker said on Friday. A VLCC can carry around 2 million barrels of oil while a Suezmax tanker can transport about 1 million barrels.

Diana Time Charter with Maersk and CMA CGM

Photo: Diana Containerships Inc

Diana Containerships has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Puelo, for a period of minimum eight months to maximum 18 months. The gross charter rate is US$10,600 per day for the first eight  months of the charter period and US$12,000 per day for the balance period of the time charter, in each case minus a 5.0% commission paid to third parties. The charter is expected to commence on August 2, 2017.

IMB Reports 87 Piracy Incidents in H1 2017

Graphics: The Standard Club

The IMB has published its report on piracy and armed robbery for the second quarter of 2017, covering the period from 1 January to 30 June 2017. The report highlights continuing decline in the number of incidents of maritime piracy, said a press release from The Standard Club. 87 incidents have been reported in the first six months of 2017, with 63 ships boarded, eight attempted attacks, four ships hijacked and 12 ships fired upon. This represents a decrease from 2016 when there were 97 reported incidents in the same period.

HMAS Newcastle Visits India

Able Seaman Boatswain's Mate Glen Cameron throws a heaving line from the forecastle of HMAS Newcastle in Kochi, India. Photo: Royal Australian Navy

Making her way north to commence duties as part of Operation MANITOU, HMAS Newcastle made a port visit to Cochin, India, further strengthening relationships recently made on exercise off Fremantle. As a continuation of Exercise AUSINDEX, the visit allowed for the strengthening of international relations between Australia and India, and gave the crew the opportunity to experience the wonderful culture India has to offer. There were many notable interactions between Newcastle and the Indian Navy which allowed each group to gain an appreciation for how the other operated.

A Maritime Security Strategy for Cameroon

Photo: International Maritime Organization (IMO)

Work to assist the Government of Cameroon to develop a national maritime security strategy is underway in Yaoundé (5-14 July). Senior Government officials from departments and agencies concerned with maritime matters are attending meetings with an IMO consultant with a view to setting up a maritime security committee. This committee will set the course for a draft programme and strategy to enhance the country’s maritime security. These efforts fall under International Maritime Organization (IMO)'s Strategy for Implementing Sustainable Maritime Security Measures in West and Central Africa.

Dakuku Calls for Marine Ecosystem Conservation

Director, Nigerian Institute for Oceanography and Marine Research, Dr. Parcy Obatola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, Norwegian Ambassador to Nigeria Jens-Petter Kjemprud and the representative of the Lagos state commissioner for Agriculture, Emmanuel Audu at the Regional Conference on Marine Safety and Fisheries Protection, in Lagos. (Photo: NIMASA)

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed the need for concerted and collaborative efforts of all stakeholders toward the conservation and sustainable use of ocean resources for the protection of the environment and indeed the entire ecosystem. The Director General who made this appeal while speaking at a 2-day Regional Conference on Marine Safety and Fisheries Protection organized by the United Nations…

Trump Administration Approves Eni Plan to Drill Offshore Alaska

Image of sea ice in the Beaufort Sea, acquired on 3 June 2017 by the Moderate Resolution Imaging Spectroradiometer (MODIS) instrument, on board the Aqua satellite. (Photo: NASA)

Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years. The approval is conditional on Eni getting other state and federal permits, which in past cases are generally granted once BOEM gives the green light. "We know there are vast oil and gas resources under the Beaufort Sea, and we look forward to working with Eni in their efforts to tap into this energy potential," said BOEM's acting Director Walter Cruickshank.

Turkish Navy Monitoring Drilling Vessel near Cyprus

Turkey has sent two ships and a submarine to monitor a drilling vessel in the eastern Mediterranean Sea, the military said on Thursday, in a move likely to increase tension with Cyprus after reunification talks failed last week. The drilling work, a contractual obligation between Cyprus and France's Total, comes a week after the collapse of talks to reunify the divided island nation, split between ethnic Greek and Turkish Cypriots. Ankara has said it will take measures against Cyprus for engaging in gas and oil exploration around the island. It says that hydrocarbon resources in the waters around the divided island should belong to both sides. The military said it had deployed the frigates and a submarine to the eastern Mediterranean to "guarantee the security of oil transportation".

Rays of Hope Seen for German Marine Equipment Suppliers

© MicroStudio / Adobe Stock

Germany’s marine and offshore equipment suppliers will have to continue efforts this year to respond to the continuing weak demand from other countries and growing competition in global shipping markets, says German Engineering Federation (VDMA) who reported a decline in orders in the maritime sector in 2017 as sales slid slightly to €11.1 billion ($12.7 billion). However, according to VDMA, the general situation in mechanical engineering industry and digitalization show encouraging signs as companies stand to benefit from developing new markets…

Dredging Seminar Held in Bangladesh

Her Excellency Leoni Cuelenaere, the Dutch Ambassador to Bangladesh (Photo: Damen)

On Tuesday, July 11, Damen hosted a dredging seminar in Dhaka, Bangladesh attended by more than 100 representatives from the Dutch Embassy in Bangladesh, experts from the Bangladesh Government, the Bangladesh Navy, local financing institutions, various customers of Damen and other industry stakeholders. Damen said it has enjoyed great successes all over the world in the sale of its dredging equipment, including Trailing Suction Hopper Dredgers, Cutter Suction Dredgers and renowned DOP pumps.

Kuehne Raises Hapag-Lloyd Stake to 17 pct

File Image (CREDIT: Hapag Lloyd)

Logistics entrepreneur Klaus-Michael Kuehne has raised his shareholding in German container shipping line Hapag-Lloyd to 17.15 percent from 14.1 percent, his Swiss-based Kuehne Holding said on Thursday. Kuehne was taking advantage of shares being sold by TUI , which on Tuesday completed the disposal of its remaining 7.9 percent of shares to focus on cruise ship acquisitions. TUI's move allowed Kuehne to expand its investment in Hapag-Lloyd, which it said it considered to be long-term.

Denmark Charges Former OW Bunker Manager with Fraud

File photo: OW Bunker

Denmark's general prosecutor said on Thursday it had charged a former Singapore unit manager of Denmark-based OW Bunker with fraud.   The prosecutor said the former manager, a Danish citizen, has been charged with committing fraud of agent for more than 800 million Danish crowns ($122.79 million) by granting credit outside his mandate.   The prosecutor also said it did not find legal grounds for criminal prosecution of other management members within the OW Bunker group, the world's biggest marine fuel supplier before it went bankrupt in 2014.   Reporting by Stine Jacobsen 

BP Sends US Diesel to Australia

File Image: CREDIT BMT

Second such cargo in a year - traders; cargo loads from Cherry Point, heading to Botany Bay. Oil major BP Plc is shipping diesel from the United States to Australia in an unusual shipping flow, several industry sources told Reuters on Thursday. The Jupiter Express carrying about 35,000 tonnes of diesel loaded from BP's Cherry Point, Washington refinery on June 29 and is currently headed to Botany Bay, New South Wales in Australia, shipping data on Thomson Reuters Eikon showed. BP declined to comment.

Out of 210 Ships, 158 Hit South Asian Beaches in Q2

Image: NGO Shipbreaking Platform

There were a total of 210 ships broken in the second quarter of 2017. 158 of these ships ended up on South Asian beaches for dirty and dangerous breaking, said NGO Shipbreaking Platform. The Platform was able to document five accidents at the shipbreaking yards in Chittagong, Bangladesh, between April and June, which led to the death of four workers and the injury of two. Ishaq worked as a winch operator and died struck by a cable at the BBC Steel Shipbreaking/KR yard. This is the second fatal accident this year at BBC Steel.

Denmark to Deploy 'Sniffer Drones' to Monitor Polluting Ships

Image: Explicit

The Danish EPA has contracted Danish startup Explicit to monitor sulphur compliance from ships. The monitoring will be conducted from the air by sampling exhaust plumes from vessels in waters around Denmark. The operation will deploy a unique new sniffer technology developed by Explicit for easy-mount on helicopters – and eventually also drones. The objective is to detect and deter violations of the 0.10% ECA restriction on sulphur in the bunker fuel. Deploying a new, miniaturized measurement system…

IFC, Excelerate Secure Finance for Bangladesh First LNG Terminal

Photo: Excelerate Energy

IFC, a member of the World Bank Group, and Excelerate Energy Bangladesh Limited (Excelerate) are co-developing the Moheshkhali Floating LNG project – Bangladesh's first liquefied natural gas (LNG) import terminal. The project will be located offshore Moheshkhali island in the Bay of Bengal with a project cost of $179.5 million. IFC and Excelerate announced securing the debt financing for the project to help expand access to clean energy in Bangladesh. Bangladesh's first LNG import terminal will enable Petrobangla…

SC Ports Reports Record Volume in FY2017

Wando Welch Terminal. Photo: South Carolina Ports Authority

South Carolina Ports Authority moved a record 2.14 million twenty-foot equivalent units in fiscal year 2017, an increase of 10 percent over the previous year’s container volumes. Highest-ever June volumes of 183,237 TEUs gave SCPA a strong finish to its fiscal year, which runs July through June. The Port’s previous record was 1.98 million TEUs, achieved in FY2006. “We had a very strong fiscal year, reflective of a capable and hard-working SCPA team and entire maritime community,” said SCPA president and CEO Jim Newsome.

Golar LNG Cuts Dubai FSRU Charter

Image: Golar LNG Limited

Golar LNG Partners has agreed with the charterer of the Golar Freeze FSRU, Dubai Supply Authority (DUSUP) certain amendments to the existing time charter that was due to end in May 2020. DUSUP have two FSRU's on contract and do not currently have full time use for Golar Freeze and have therefore been working with Golar Partners to find alternative employment. Golar Partners and DUSUP will continue to cooperate with regards to future employment for Golar Freeze but in the meantime have agreed certain amendments to the existing charter.

US-Australia Naval Drill TS17 is Underway

(Front to Back) HMA Ships Bathurst and Ballarat conduct Officer of the Watch manoeuvres with USS John S. McCain during Exercise Talisman Saber 17 Field Training Exercise - North. Photo: Royal Australian Navy.

The Royal Australian and United States navies have proven a potent and agile force when operating together during the opening phases of Exercise TALISMAN SABER 17, which took place in the Northern Territory. HMA Ships Ballarat, Melbourne, Broome and Bathurst conducted four days of high-end warfare exercises with USS John S. McCain off the coast of Darwin, proving their ability to detect, track and engage surface, submarine, and air targets. Advanced air warfare serials were supported by the Royal Australian Air Force’s Classic and Super Hornets and the US Marine Corps’ F/A-18s.

ClassNK Endorses Turkish Ship Recycling Facility

Image: ClassNK

Leading classification society ClassNK  has issued a Statement of Compliance (SoC) to a ship recycling facility in Izmir, Turkey, ISIKSAN SHIP RECYCLING and TRADING, verifying that the facilities are in line with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (HKC). Although the HKC has yet to enter into force, ISIKSAN has carried out substantial improvements to its facility in a bid toward safer and greener ship recycling…

Iridium Plans to Start GMDSS Service in 2020

Iridium Communications Inc. announced that two key milestones along the path to becoming the second recognized provider of Global Maritime Distress Safety System (GMDSS) services have been reached. During its 98th session this past June, the International Maritime Organization's (IMO) Maritime Safety Committee (MSC) adopted new performance standards for GMDSS equipment and approved amendments to the Safety of Life at Sea (SOLAS) Treaty, which pave the way for Iridium to become a recognized GMDSS service provider. Now, the key remaining step in the approval process is an IMO resolution recognizing Iridium as a certified GMDSS mobile satellite service provider. Iridium expects this will be completed during calendar year 2018, with Iridium GMDSS service to begin in 2020.

Baltic Index Rises on Higher Rates across All Segments

© sergeevspb / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday, helped by higher rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 29 points, or 3.49 percent, at 859 points. The capesize index gained 91 points, or 12.05 percent, to 846 points. Capesize earnings are on the rise with average earnings ticking up to about $7,200/day as the market continues to gain some traction in Western Australia and Brazil…

Giant Iceberg Breaks off Antarctica

Thermal wavelength image of a large iceberg, which has calved off the Larsen C ice shelf. Darker colors are colder, and brighter colors are warmer, so the rift between the iceberg and the ice shelf appears as a thin line of slightly warmer area. Image from July 12, 2017, from the MODIS instrument on NASA's Aqua satellite. (Image: NASA Worldview)

One of the biggest icebergs on record has broken away from Antarctica, scientists said on Wednesday, creating an extra hazard for ships around the continent as it breaks up. The one trillion tonne iceberg, measuring 5,800 square km, calved away from the Larsen C Ice Shelf in Antarctica sometime between July 10 and 12, said scientists at the University of Swansea and the British Antarctic Survey. The iceberg, which is roughly the size of the U.S. state of Delaware or the Indonesian island of Bali, has been close to breaking off for a few months.

Drilling in Disputed South China Sea may Resume

Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said on Wednesday, as the government prepares to offer new blocks to investors in bidding in December. The Philippines suspended exploration at the Reed Bank, which it calls Recto Bank, in late 2014, as it pursued international arbitration over territorial disputes. The bank is in waters claimed by China. Ismael Ocampo, director at the Department of Energy's Resource Development Bureau, told reporters the agency expected the suspension to be lifted in December. He said a directive from the Department of Foreign Affairs directing the Department of Energy to resume oil and gas exploration in the South China Sea was already in the works.

Rickmers to Sell its Last 9 Vessels to Navios

File photo: Rickmers Maritime

HSH syndicate, comprising HSH Nordbank and DBS Bank, has approved the sale of the remaining nine of 14 vessels of Singapore-based Rickmers Trust Management for some $54 million to Navios Partners Containers and Navios Partners Containers Finance. The total consideration will also include an amount to support settlement of operational cash deficits to closing, said Rickmers Trust Management in an update on the winding up of Rickmers Maritime. The sales of these nine vessels are expected to be completed in parts from July 12, 2017, Rickmers said.

Maritime Reporter Magazine Cover Jul 2017 - The Marine Communications Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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