Jeddah Mulls Safe and Secure Regional Waters
Signatory States to an agreement aimed at repressing piracy, armed robbery and illicit maritime activity in the western Indian Ocean and the Gulf of Aden Area have agreed that building response capability and information sharing are vital steps towards achieving a more safe and secure maritime environment. The signatories to the revised Code of Conduct concerning the repression of piracy, armed robbery against ships and illicit maritime activity in the western Indian Ocean and the Gulf of Aden Area…
Kongsberg Norcontrol Pact with Norwegian Coastal Administration
Kongsberg Norcontrol has signed a framework agreement with the Norwegian Coastal Administration for delivery, operations and maintenance of radars to the maritime traffic service. The agreement has a potential total value of up to NOK 250 million and a duration of up to eleven years. This is amongst the largest framework agreements the Norwegian Coastal Administration has entered into with a single supplier. "The Ministry of Transport and Communications has assigned us to expand the service area for our maritime traffic service…
Kalmar Contracted for Automation Retrofit of Two Kalmar RTGs
Kalmar, part of Cargotec, said it has been awarded a contract for the automation retrofit of two Kalmar rubber-tyred gantry cranes (RTGs) by Borg Havn IKS, Norway.The order, which also includes a one-year maintenance and support agreement for the automation software, was booked in Cargotec's 2017 fourth quarter order intake. The project is scheduled to be completed during Q4 of 2018.Borg Havn is a marine terminal located in Fredrikstad, southeast Norway. The terminal has an annual throughput capacity of approximately 150…
Kalmar to Help Borg Havn IKS Improve Productivity
Kalmar, part of Cargotec, has been awarded a contract for the automation retrofit of two Kalmar rubber-tyred gantry cranes (RTGs) by Borg Havn IKS, Norway. The order, which also includes a one-year maintenance and support agreement for the automation software, was booked in Cargotec's 2017 fourth quarter order intake. The project is scheduled to be completed during Q4 of 2018. Borg Havn is a marine terminal located in Fredrikstad, southeast Norway. The terminal has an annual throughput capacity of approximately 150…
Yanmar Hires Nordics Regional Manager
Yanmar Marine International has appointed Daniel Sundberg as its new Nordics Regional Manager to oversee sales, after-sales and marketing related to the manufacturer’s commercial and leisure marine engines and other Yanmar Group brands in Norway, Sweden, Finland, Estonia and Latvia.Sundberg's position encompasses the roles of Nordics Regional Manager, General Manager of Yanmar Norway and General Manager of Yanmar Sweden.According to Yanmar, the addition of a focused Nordics Manager…
Norway Expects Gas Export Prices to Slip in 2019
Prices of Norwegian gas exports are likely to rise slightly this year amid strong demand, but will fall back in 2019 as liquefied natural gas (LNG) deliveries in Europe are expected to increase, the government said in its revised budget on Tuesday.Europe's largest gas supplier after Russia forecast gas export prices would rise by 0.1 crowns per standard cubic metres (sm3) to average 1.8 crowns (22.43 U.S.
Star Bulk Carriers Acquires Songa Bulk Fleet
Greece-based dry bulk shipping firm Star Bulk Carriers has entered into definitive agreements to acquire 18 dry bulk vessels in two all-share transactions. 15 of the vessels will be acquired from Songa Bulk and three of the vessels will be acquired from Oceanbulk Container Carriers. The consideration for the vessels was determined based on average vessel valuations by independent vessel appraisers. The Company has agreed to issue an aggregate of 13.725 million common and pay $145 million in cash for the acquisition of all of Songa’s 15 modern dry bulk vessels .
BW LPG Offers to Buy Dorian LPG in $1.1 Bln Deal
The world's largest liquid petroleum gas (LPG) shipper, Norway's BW LPG, is offering to buy competitor Dorian LPG in a $1.1 billion all-stock deal in an effort to boost its earnings in a weak market, it said in a statement on Tuesday.Dorian shareholders will receive 2.05 BW LPG shares for each Dorian share, equal to $7.86 per share, a premium of 13 percent from Friday's closing price, and based on BW LPG's share price on May 28.New York-listed Dorian LPG's equity is valued at about $441 million and including debt the transaction is valued at $1.1 billion.The deal is backed by shipping conglome
Sea Shepherd Says Endangered Blue Whale Killed in Iceland
An endangered Blue whale has been killed by an Icelandic whaling company Hvalur hf to be sold for export to Japan, a conservationist organization Sea Shepherd said. "Sea Shepherd volunteers monitoring the Hvalur hf whaling station in Hvalfjordur Iceland have documented the slaughter of an endangered Blue whale on the night of July 7th, the 22nd endangered whale killed and butchered for export to Japan by Kristján Loftsson’s commercial whaling company since June 20, 2018," said a press release.
Shippers Push to Undermine EU Ship Recycling Regulation
The EU member states’ experts on ship recycling met in Brussels to discuss the latest developments, six months ahead of the application of the 2013 Ship Recycling Regulation. With the recent decision by the Chinese government to stop the import of end-of-life ships for scrapping, the shipping industry is quick to lament that there will not be enough recycling capacity and that there will be too few options for them under the EU List of approved recycling facilities. The industry claims that the standard set by the EU must be lowered so that beaching yards can be approved.
Actisense Restructures Its Management Team
Marine electronic equipment provider Actisense has undergone an internal reorganization. Danny Thrasher, Head of Sales & Operations, has taken on the newly created role of Head of Sales & Marketing. Additionally, Mark Pay former Operations Supervisor, has been promoted to the role of Operations Manager. As the Head of Sales & Operations, Thrasher has been responsible for promoting the Actisense brand overseas as well as managing the internal operations team. In his new role as Head of Sales & Marketing, he will be aligning sales activities with the company’s global business development plans.
Electric Ferries on Rise: DNV GL
The environmental ambitions of the politicians in Hordaland were very high when it came to cutting emissions from ferry operations. A tender for new ferries, supported by DNV GL, resulted in a record investment of 140 million euros in zero-emission technology. When ferries pass the stunning scenery of Norway’s Hordaland County today they leave a sizeable pollution and CO2 footprint behind. Hordaland’s 20-vessel ferry fleet has an average age of 29 years and emits as many noxious fumes as all the buses of the county combined.
Bolidt Eyes Polar Cruise Sector
Bolidt Synthetic Products & Systems' position for decking and flooring in mainstream cruise ship and superyacht markets has been quickly converted into a series of business wins in the fast-emerging polar expedition cruise ship sector.The most recent contract for the Dutch manufacturer’s hardwearing, environmentally friendly and visually attractive products covers the Hurtigruten newbuildings, Roald Amundsen and Fridtjof Nansens, two hybrid propulsion expedition cruise ships under construction at Kleven shipyard in Norway.
New Rules on Ship Emissions Herald Sea Change for Oil Market
New rules coming into force from 2020 to curb pollution produced by the world's ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies.The regulations will slash emissions of sulfur, which is blamed for causing respiratory diseases and is a component of acid rain that damages vegetation and wildlife.But the energy and shipping industries are ill-prepared, say analysts, with refiners likely to struggle to meet higher demand for cleaner…
Vard Wins Contract for Luxury Expedition Cruise Vessel
Vard Holdings Limited has announced that it has secured a new contract for the design and construction of one luxury expedition cruise vessel for German cruise company Hapag-Lloyd Cruises. The new expedition cruise vessel will join Hapag-Lloyd Cruises HANSEATIC series, together with the two vessels that VARD already has under construction for the Germany-based cruise company. Developed by VARD in close cooperation with Hapag-Lloyd Cruises, the vessels are specially designed for cruises in polar regions in the Arctic and Antarctica…
Bangladesh Ship Recycling Project: Second Phase Begins
The second phase of an International Maritime Organization (IMO) -implemented project to enhance safe and environmentally sound ship recycling in Bangladesh has been launched with the first Project Executive Committee meeting in Dhaka, Bangladesh (2 July). The SENSREC Project Phase II - Capacity Building, funded under a US$1.1 million agreement with Norway, will focus on legal and institutional analysis of ship recycling in the country and will develop a roadmap for the Government…
Equinor Acquires Energy Trader Danske Commodities
Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years," said a press release from the company. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad energy company.
REGULATORY WATCH: The Global 0.50% Sulfur Cap: 30 months and counting down …
Industry frets about the coming deadline. Shipping desperately wants to be ready, but will global shore-based infrastructure and refining capacity match the demand that is sure to come? And … are regulators listening to industry’s concerns? In early June, the U.S. Coast Guard (USCG) and U.S. Environmental Protection Agency (EPA) held a public workshop in Washington to help the agencies prepare for the January 1, 2020 deadline for worldwide implementation of very low sulfur marine fuel that meets the new 0.50% sulfur cap as set forth by the International Maritime Organization (IMO).
Star Bulk Carriers Completes Acquisition of 15 Dry Bulkers from Songa Bulk
Global shipping company Star Bulk Carriers, announced that it has closed the previously announced acquisition of fifteen operating dry bulk vessels from Songa Bulk for an aggregate of 13.725 million common shares of Star Bulk and $145.0 million in cash. Following the closing of the Vessel Purchase Transaction, (i) Arne Blystad will be appointed to the Board of Directors of Star Bulk as Class C Director and Herman Billung will join the management team of Star Bulk as Senior Vice President and (ii) Songa is expected to distribute the Consideration Shares to its shareholders.
Oil Prices Dip as Markets Eye Potential Supply Increases
Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.Brent crude futures were down 26 cents, or 0.4 percent, at $75.07 a barrel at 0057 GMT.U.S. West Texas Intermediate (WTI) crude was down 27 cents, or 0.4 percent, at $70.74 a barrel.Supply outages in Libya and strike action in Norway and Iraq pushed oil prices higher late last week, although prices still ended down for a second straight week."Crude oil prices fell as fears of supply disruptions eased.
Meet the Digital, Zero Emission Cargo Solution
Kalmar, part of Cargotec, and Yara entered into an agreement in which Kalmar will deliver fully autonomous equipment, software and services for a unique, fully digitalized container handling solution at Yara's Porsgrunn facility in Norway. This means that all the necessary operations related to the world's first autonomous and electric container vessel Yara Birkeland will be conducted in a fully autonomous and cost efficient manner, with zero emissions. The order was booked in…
EU-backed Autonomous Shipping Project Moves Forward
Hull to Hull (H2H), an EU-funded research project established to develop technical solutions for safer navigation in close proximity of other stationary or moving vessels and objects, is in its Concept Definition phase and will move on to the Technology Adaption and Integrations Work Package (WP03) this summer.H2H was established in November 2017 to develop solutions using the European Global Navigation Satellite System (EGNSS), EGNOS and Galileo, that can enhance safety in busy waters and during close maneuvering…
Dorian LPG Rejects BW LPG Merger Offer
Dorian LPG announced that its Board of Directors has unanimously declined an unsolicited, conditional proposal from Norway's BW LPG, the world's largest liquid petroleum gas shipper, to combine with Dorian in a stock-for-stock transaction. After a thorough review, conducted in consultation with its financial and legal advisors, the Board of Directors unanimously concluded that the proposal is not in the best interests of Dorian and its shareholders., said a press release from the company.
MOL Acquires Stake in AKOFS of Norway
Mitsui O.S.K. Lines (MOL) announced that MOL and Mitsui & Co have entered into a share purchase agreement to acquire shares in AKOFS Offshore AS, which is owned by Akastor ASA, Norway. After in-kind contribution of the company of owner and leasing the subsea support vessel, Skandi Santos, which MOL, Mitsui & Co., and AKOFS are jointly operating since November 2016, MOL's acquisition amount will be about JPY 8 billion. MOL's acquisition of shares in AKOFS means MOL will become more deeply involved in the operation and ship management of subsea support vessels…
Adriatic LNG Receives 600th Cargo
Adriatic LNG, the company which operates the regasification terminal located off the Veneto coastline, announces the arrival of the 600th carrier, the Al Jassasiya. The carrier left Ras Laffan Port in Qatar, delivering a cargo of about 140,000 cubic meters of liquefied natural gas (LNG), equivalent to nearly 85 million cubic meters of gas. The event was celebrated on the terminal with a brief ceremony that involved the vessel's personnel and Adriatic LNG's staff, including the Operations Manager Fabian Erle, who delivered a recognition to Georgios Pissaris, the Captain of the Al Jassasiya.
LNG Trade Grew 10% in 2017 -EIA
Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in the Australia and the United States, the U.S. Energy Information Administration (EIA) said on Monday.LNG trade reached 38.2 billion cubic feet per day (bcfd) in 2017, up 3.5 bcfd from 2016 and the largest annual volume increase on record, the EIA said, citing the Annual Report on LNG trade by the International Association of Liquefied Natural Gas Importers (GIIGNL).New liquefaction export capacity commissioned in Australia…