Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping.
Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.The Suezmax crude tanker Sabiti was ablaze and suffered heavy damage after being hit by two missiles, Iranian media reported.
Bourbon said a mission has been launched to rescue 14 crew from one of its vessels taking on water in heavy seas near a category 4 hurricane in the Atlantic Ocean.The French offshore vessels owner said water is entering the stern of the 49.5-meter tug supply vessel Bourbon Rhode, about 60 nautical miles south-southeast from the eye of hurricane Lorenzo.
Hurricane Dorian took aim at the Bahamas and the Florida coast on Thursday, spurred on by warm Atlantic waters as it threatens to strengthen into a dangerous Category 3 storm.Dorian earlier sideswiped the Caribbean without doing major damage but is expected to strengthen and slam the Bahamas and the southeastern United States with rain
A pigment package designed by the U.S. Naval Research Laboratory (NRL) to slow discoloration of the exterior coating on surface ships has started to make its way into the fleet and is producing early, positive results.NRL researchers created the pigment combination to satisfy the fleet requirement for the Navy standard "haze gray" paint that will remain color stable for longer than current
Three Iranian vessels tried to block a BP-operated tanker passing through the Strait of Hormuz but backed off when confronted by a Royal Navy warship, the UK government said on Thursday.Britain urged Iran to "de-escalate the situation in the region" after the British Heritage, a Suezmax oil tanker operated by BP under an Isle of Man flag, was approached.
The deepwater drilling contractor Seadrill said that its contract backlog, as of May 23, 2019, totaled approximately $1.9 billion.The drilling services provider said it has added $130 million of additional backlog from March, including the AOD I award of a three year follow on contract with Saudi Aramco keeping the unit employed until June 2022, which adds approximately $82 million in backlog.
The May 2019 edition of Maritime Reporter & Engineering News features a 10-page feature section on "Thought Leadership" in the marine power sector. Here we extract and present the interview with Sebastiaan Bleuanus, GM for research coordination and funding, Wärtsilä.Please put in perspective and discuss the current environment and pressure to reduce emissions in the maritime industry.
Tim Protheroe, with more than 40 years of industry experience, was tapped to head North American activities for Bureau Veritas Marine & OffshoreProtheroe was officially named Regional Chief Executive, Marine & Offshore, North America, providing leadership in the United States and Canada.
Alaskan Tanker Company (ATC) will retrofit the Ecochlor ballast water management system (BWMS) on board their fleet including three VLCC crude oil tankers and an option for one additional vessel. Each of these vessels are U.S. flag tankers with Zone 1 and Zone 0 hazardous areas.The Ecochlor BWMS is approved for installation in both US Flag and International vessels in hazardous areas rated Zone
The Office of Commercial Vessel Compliance announced the release of the 2017 Domestic Vessel Annual Report, the first of its kind issued from the Coast Guard.The report collates data from the Coast Guard’s Marine Information Safety and Law Enforcement (MISLE) database regarding vessel population, inspections conducted, and deficiencies issued for the 2017 calendar year.
FUELTRAX optimizes uptime and reduce costs with a real-time marine fuel management solution. Solving your emissions and fuel monitoring reporting and compliance headache is what they are all about.In today’s operating environment, it would be an understatement to say that detailed insight into fuel consumption and efficiency is one key to managing marine operations.