Malaysian oil and gas company Petronas named its second floating liquefied natural gas (LNG) facility, the PFLNG Dua, in a ceremony in Geoje, South Korea.The floating LNG facility is designed to extract gas from deepwater gas reservoirs in depths up to 1,500 meters.With PFLNG Dua, the national oil and gas company of Malaysia owns and operates two floating LNG facilities
The 2019 version of the MarineNews MN100 edition - our annual look at the very best individuals and firms in the shallow draft, brown water and workboat sectors - has come and gone. Anchoring that prestigious list, as always, is R.W. Fernstrum & Company. That's no surprise to MarineNews readers.THE COMPANY:R.W.
In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance
Imagine a power distribution network where excess renewable energy from hydropower, wind, solar, and nuclear energy is converted to hydrogen and used as transportation fuel in the maritime industry. With the allure of a zero emissions fuel, a number of ship owners are starting to seriously consider hydrogen for newly built vessels.
International mining company BHP BHP floated a bulk carrier tender for LNG-fueled transport for up to 27 million tonnes of its iron ore.The Melbourne-based resource company said in a release that this is the world’s first bulk carrier tender for LNG-fueled iron ore vessel.The mining giant is considering LNG as a way to eliminate nitrogen oxide and sulfur oxide emissions by launching the world’s
"Koselig" is a Norwegian adjective used to describe situations that give a feeling of comfort, warmth, and relaxation. The NorShipping exhibition and conference, one of the largest in northern Europe, could definitely be described as koselig. Occurring in Oslo, Norway between June 4-7, 2019, the conference featured close to 1,000 exhibitors from around the world.
Chicago-based CC Industries acquired Southern Towing Company (STC) from Trive Capital and McCombs Partners. Founded in 1958, STC is one of the largest operators of towboats and barges along the inland waterways of the United States.This acquisition expands CCI’s portfolio of industry-leading businesses, and marks another CCI investment in the transportation equipment and logistics sector.
The MR (Medium Range Product Carrier) product and chemical tanker market continues its upward trend, with charter rates higher in the first quarter on the back of continued strengthening supply-demand fundamentals and further supported by prolonged winter market conditions.According to Anthony Gurnee
Tsuneishi Shipbuilding Co, ship repair and manufacturing company in Japan, has delivered its first long-range-one (LRI) (77,000 DWT) Product/Chemical Tanker."This first ship was constructed at Tsuineishi Group (Zhoushan) Shipbuilding, Inc., the Group’s shipbuilding site in China," said a press statement.
New holographic technology is set to revolutionize training procedures, fleet management, ship performance and engineering maintenance in the maritime sectorHave you ever wished you could move around your fleet of ships, in full 3-D, without ever moving from your desk? Have you ever wanted to be able to delve into the complex inner workings of one of your vessels and inspect its internal
The product tanker market registered a robust recovery in the fourth quarter of 2018, partially reversing the downward trend observed in the first nine months of the year, said Capital Product Partners.The Marshall Islands' tanker company said in a stock exchange annoucement that the beginning of the quarter was weak in line with the previous quarters
Late 2018 saw the tanker market bubble upwards through late November, with daily vessel hires moving in the direction of, though not yet reaching levels not seen since late 2014-2015, when oil prices were in freefall and inventories building to the brim. A few pundits have suggested that we are seeing a “mini 2014” where lowered oil prices are coaxing another inventory build which would drive