A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.Turkmenistan typically exports about 200,000 tonnes of oil per month via the Caspian to world markets, mainly from fields operated by the UAE's ENOC and Italy's Eni, but flows have halved in recent weeks, six traders involved in operations said.That happened after Turkmen producers decided to export oil via Russia with the help of Swiss trader Vitol and ditch the previous Azeri route, operated by state-owned SOCAR.
Metal Shark has arguably been one of the more active and successful boat builders in the U.S. over the last 12 to 24 months, boasting a strong order book and expanding facilities and portfolio. In particular, the company has been able to capitalize on the burgeoning ferry market, today accounting for about a quarter of its business, as Chris Allard, CEO, explains.When you look at the ferry business today in relation to Metal Shark’s business
Singapore's Keppel FELS has delivered the jackup rig, Cantarell IV, to Grupo R with a perfect safety record.The wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) said that as part of the deal, Grupo R has entered into a sale and leaseback agreement with FELS Asset, another wholly-owned subsidiary of Keppel O&M.FELS Asset will purchase the rig from Grupo R for US$179m which is equivalent to the balance contract value of the rig. Cantarell IV will be leased back to Grupo R on a bareboat charter at competitive day rates over five years.
Global marine outfitter, MJM Marine is undertaking its biggest-ever project which will see a team of 1,400 people spend more than a month working on a cruise liner at locations including China and the US.The company been appointed as the main outfitting contractor by Norwegian Cruise Line (NCL) to completely refurbish the Norwegian Joy, as the company repositions the ship to the West Coast of the United States.In a multi-million dollar project, MJM Marine will play the lead role in the design, manufacture, installation and project management of the interior refit of the cruise liner.
Global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 1.4% in the fourth quarter of 2018, reflecting the trend observed in the rate environment.According to Norway based dry bulk shipping company Golden Ocean Group, freight rates in the fourth quarter of 2018 disappointed compared to expectations, in particular for the Capesize vessels, which declined from the previous quarter.The Panamax and Supramax markets were relatively unchanged from the previous quarter, it said.
The Hong Kong and Vancouver-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine & Engineering (SHIME).Ship set to be fitted with a scrubber and will enter the market before the end of 2020, said a release from Valles, which was founded by C.S. Koo in Shanghai as a family business in 1917."We take great pleasure in concluding a newbuilding contract with the esteemed yard and the we look forward to further strengthening their relationship with SHIME," said the statement.
Workers at South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) voted on February 19 to strike to oppose Hyundai Heavy Industries (HHI)’ proposed takeover.According to labour union, the approval for the proposed strike heralds a bumpy road for a mega deal between HHI and the state-run Korea Development Bank (KDB).The decision to go on strike was supported by a majority of DSME workers in a meeting on February 19, Yonhap reported citing the workers’ 5,600-member union. The union said the precise date for the strike would be determined at a later point in time.
Marine LNG Zeebrugge, a joint venture of the Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - has signed an agreement with the Norwegian multinational energy group Equinor.Under the agreement, Marine LNG Zeebrugge will supply liquefied natural gas as a marine fuel to Equinor’s four crude shuttle tankers in the Dutch port of Rotterdam.The four planned dual fuel vessels are to come into service in early 2020; they will be operated by Equinor in Northern European seas.Marine LNG Zeebrugge will supply LNG using the LNG bunkering vessel ENGIE Zeebrugge which started operations in 2017.
The government of India has revised guidelines for chartering of ships by providing the right-of-first-refusal (RoFR) to ships built within the country, a move to promote the Make in India initiative and incentivise shipbuilding activity.Henceforth, whenever a tendering process is undertaken to charter a vessel, a bidder offering a ship built in India will be given the first priority to match the L1 quote. It is expected that this priority given to ships built in India will raise the demand for such vessels, providing them with additional market access and business support.
After more than 60,000 installations since its debut 15 years ago, Furuno’s FAR21X7 will cease production this year, making way for the next-generation series of IMO-compliant radars, the all-new FAR22X8BB.The Furuno FAR22X8BB Radar Series is available in 12kW or 25kW X-Band, 30kW S-Band, or 250W Solid State S-Band configurations. Each model is supplied in a 'black box' configuration, allowing the choice from a variety of displays to fit the needs of the vessel, including Furuno's own MU190 19" LCD's for SOLAS Category 2 ships, and MU231 23.
The first major milestone in the construction of Nexans’ new DP3 cable laying vessel, the C/S Aurora, was passed Monday, February 18, 2019, with the cutting of the first steel.“With this modernization we will further strengthen our ability to deliver green power for the future”, said Vincent Dessale, Senior Executive VP Subsea and Land Systems Business Group at Nexans. “Aurora will play a key role in the installation of our cutting-edge submarine cables to help bring more energy to the world, connect offshore wind farms to the grid
Captain Louis Rhéaume has joined the team at Maritime Simulation and Resource Center (MSRC).At MSRC Captain Rhéaume will supervise the implementation of maritime expertise projects and provide his professional and administrative experience to the pilots in training. Captain Rhéaume is a graduate of the Institute maritime du Québec and holder of a Master Foreign Going Certificate. He was a pilot on the St. Lawrence River in the Quebec-Escoumins sector from 1984 to 2018, President of the Lower St.