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Tuesday, November 12, 2019

Jon Holvik was named Thrustmaster's Executive Vice President for Business Development of Dynamic Positioning Systems.

Holvik joins Thrustmaster

Thrustmaster of Texas acquired the ICON Dynamic Positioning business from Rolls Royce earlier this year, a DP product addition to the Thrustmaster product portfolio. In addition to the rights to produce and sell future units of the DP products, Thrustmaster also has responsibility for the maintenance, service and upgrades of existing DP systems presently in operation. To support this addition, Thrustmaster has added Jon Holvik to the Thrustmaster team as the Executive Vice President for Business Development of Dynamic Positioning Systems.

Photo: MHI Vestas

MHI Vestas Offshore Wind Appoints Co-CEO

The Board of Directors of MHI Vestas Offshore Wind has appointed Johnny Thomsen as the new Co-CEO following the resignation of Lars Bondo Krogsgaard.Thomsen is the former Vestas Senior Vice President of Product Management, said a press note from the Dutch offshore wind power solutions provider.“We are pleased to announce the appointment of Johnny Thomsen, as the new Co-CEO of MHI Vestas Offshore Wind,” said Anders Runevad, Chairman of the MHI Vestas Board of Directors.“Johnny combines substantial understanding and experience of the MHI Vestas platform with business acumen.

Image: Hapag-Lloyd

Hapag-Lloyd Expands Atlantic Loop 3

German international shipping and container transportation company Hapag-Lloyd AG announced that it is expanding fleet on Atlantic Loop 3 service between the US and Europe."Our Atlantic Loop 3 Service (AL3) fleet is growing with the addition of the 4,248 TEU vessel “Rio Grande Express” sailing between the United States and Europe," the cargo container shipping line said in a statement."Upgrading to a 6 vessel rotation will improve the reliability of the AL3 service for our customers and support our strategy of being number one for quality…

Pic: APM Terminals

AEO Status for APM Terminals Quetzal

Guatemala’s Superintendence of Tax Administration (SAT), customs entity, has recognized APM Terminals Quetzal’s transparency and security through its accreditation as an Authorized Economic Operator (AEO). The terminals achieved a 100% compliance rating.The terminal uses a state-of-the-art terminal operating system to optimize security, control and cargo management. It also enables customs and customers to work together as efficiently as possible.Authorized Economic Operator (AEO) recognized the terminal’s compliance with international and local security standards…

Pic: Albis Shipping & Transport

MPC Capital Buys Stake in Albis

German shipping asset manager MPC Capital has acquired a strategic stake of 50 percent in compatriot tanker chartering company Albis Shipping & Transport.The Hamburg-based asset and investment manager informed that, Albis, led by Kim Moeller, operates a market-leading commercial platform for tankers of various sizes. Albis offers its customers tailor-made solutions for the chartering and operations of tankers.In addition to the technical ship manager Ahrenkiel Tankers, MPC Capital complements its range of services in the tanker segment by acquiring a shareholding in Albis.

(From left): Dong Ho Park, Senior Approval Engineer DNV GL; Andreas Kristoffersen, Head of ACK, DNV GL; Jarle Coll Blomhoff, Head of Cyber Security, DNV GL; Hae Ki Jang, VP, SHI; Duck Soo Kim, Senior Engineer, SHI; Kyung Won Bae, Senior Smart Ship Engineer, SHI; Chang Ryeol Heo, Principal Engineer, SDS; Partick Jeon, Leader of Machinery & Electric Planning Parts, SHI. Photo: DNV GL

DNV GL Awards AIP for SHI Cyber Secure Notation

The international accredited registrar and classification society DNV GL has presented South Korean shipbuilder Samsung Heavy Industries Co., Ltd. (SHI) with an Approval in Principle (AIP) for the Cyber Secure (Advanced+) notation.According to DNV GL, this is the world’s first AIP for its Advanced+ addition to the Cyber Secure notation. The additional scope has been awarded as a result of the use of the Samsung Smart Ship Solution, SVESSEL.Cyber security is becoming a crucial part of design and operational ship safety.

Jobs at risk if Merger Stopped, Fincantieri Chairman Warns

Fincantieri Chairman Giampiero Massolo defended the Italian shipbuilder's planned acquisition of French rival Chantiers de l'Atlantique, and said jobs in the industry could suffer if the project fell through.European competition authorities last month opened an in-depth investigation into the proposed deal, saying it would significantly reduce competition and could push up prices for cruise ships."Ours is a valid industrial project that could not only help Europe's shipbuilding industry compete better globally…

Drew Amos (Photo: WAGO)

WAGO Welcomes Amos

Drew Amos has been hired as the new Regional Sales Manager for Southern California.  Amos is a graduate of Humboldt State University where he earned his Bachelor’s degree in Sociology.  Amos’ extensive sales background makes him an asset to the WAGO team.  He started as an inside sales rep for Moxa Americas, before moving to Ecolab as a Territory manager.  The last few years were once again spent with Moxa, this time as a Regional Sales Manager.  Born and raised in Southern California, Amos says he is looking forward to being closer to and working with his new clients.

Maersk COO Søren Toft Leaves Company

Chief Operating Officer (COO) Søren Toft has decided to pursue another opportunity outside the company and will leave A.P. Møller - Mærsk A/S effective today. CEO Søren Skou will take on the responsibilities of the COO in the interim.The Executive Board will hereafter consist of Søren Skou, Carolina Dybeck Happe, Vincent Clerc, and Morten Engelstoft.Søren Toft joined A.P. Møller - Mærsk in 1994 and became a member of the Executive Board in December 2017.

Photo: Fincantieri

Fincantieri: Jobs at Risk if Merger with Chantiers de l'Atlantique Stopped

Fincantieri Chairman Giampiero Massolo defended the Italian shipbuilder's planned acquisition of French rival Chantiers de l'Atlantique, and said jobs in the industry could suffer if the project fell through.European competition authorities last month opened an in-depth investigation into the proposed deal, saying it would significantly reduce competition and could push up prices for cruise ships."Ours is a valid industrial project that could not only help Europe's shipbuilding industry compete better globally…

At the 2019 CEDA Dredging Days, IADC’s Secretary General René Kolman (right) bestows the 2nd Young Author Award 2019 to Ms Liesbeth De Keukelaere (left) for her contribution to the paper “Mapping water quality with drones – test case in Texel”. Photo: IADC

De Keukelaere Wins IADC "Young Author Award"

The International Association of Dredging Companies (IADC) bestowed the Young Author Award to Liesbeth De Keukelaere, R&D Professional at VITO in Belgium. IADC’s Young Author Award is given annually to “stimulate the promotion of new ideas and encourage younger men and women in the dredging industry”. The award is granted at industry-leading conferences, with a winning young author selected from the proceedings of the CEDA Dredging Days 2019, held on November 7-8, 2019, in Rotterdam…

Artist impression courtesy Damen.

Damen Snags Ferry Order from B.C. Ferries

Damen Shipyards Group has won a repeat order from B.C. Ferries for four additional Damen Road Ferries 8117 E3, also known as the “Island Class vessels”. The diesel-electric hybrid ferries follow two such vessels that the client ordered from Damen in 2017. The four new vessels will provide inter-island ferry services between Vancouver and Vancouver Island.“The fact that Damen had designed the original two island class ferries for BC Ferries, positioned us well to start building very quickly," said Leo Postma, Sales Manager, Damen.

Edwin W. Stephan, the founder, long time-president, and vice chairman of the board of Royal Caribbean Cruise Line. Photo: Royal Caribbean Cruise Line

Royal Caribbean Cruise Founder Dies

Army veteran-turned-Royal Caribbean Cruise Line founder Edwin W. Stephan passed away on Friday at 87 years old."We at Royal Caribbean mourn his loss and extend our deepest sympathies to the Stephan family," said a statement from the global cruise company said.In 1969 Stephan founded the Royal Caribbean Cruise Line, and his contributions helped create the modern cruise industry we know today. Under his leadership in 1970, the company launched Song of Norway, the first ship purpose-built for warm-water cruising.Since that initial voyage…

Pic:  Samsung Heavy Industries

SHI Losses Widen

South Korean Samsung Heavy Industries (SHI) reported its third-quarter net loss of 583.2 billion won (US$ 503.8 million), compared with a KRW80.30 billion loss in the same quarter a year earlier, staying in the red compared with a year ago.The loss widened sharply in the wake of a cancelled shipbuilding deal. Mitsui Ocean Development & Engineering Co. (MODEC) was recently selected as the floating production, storage and offloading (FPSO) unit supplier for the Barossa Project in Australia.

Photo: Monjasa

Monjasa Expands to Angola

Danish bunker company Monjasa announced the opening of its first office in Luanda, Angola, to support the West Africa oil and shipping activities.Monjasa started supplying bunkers across West Africa in 2009 and since then, it has delivered a total of 10.6 million tonnes of fuel products across the region from the Gulf of Guinea to Namibia."Monjasa is currently enabling the IMO 2020 transition by making new low-sulfur marine fuel available across the region. Today, Monjasa is the leading supplier in West Africa measured on volume and a fleet of 10 tankers deployed in the region…

Pic: Vard

Fincantieri: Vard Shipyard is Losing Money

Italian shipbuilder Fincantieri has posted higher earnings in the first nine months, but said the result was hit by losses at its Vard unit. Revenues increased by 9.7% at euro 4,254 million (euro 3,878 million at 30 September 2018).Fincantieri reported a positive performance of the Shipbuilding segment (+30.2% compared to 30 September 2018 despite the negative impact of Vard cruise projects) and was affected by the negative margin of the Offshore and Specialized Vessels segment.Positive operating performance at Group level…

Pic: Global Ship Lease

S&P Upgrades GSL Ratings

Global Ship Lease (GSL), a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships, said that  S&P Global Ratings has raised its long-term issuer credit rating.According to the London-headquartered company, its  first priority senior secured notes to B+ from B on the basis of new charters at favorable rates, extended debt maturities, rebalancing supply and demand conditions, and an improved leverage profile.Ian Webber, Chief Executive Officer of Global Ship Lease…

Photo: Valletta Cruise Port

​Sky Princess, Princess Cruises’ Latest Newbuild Visits Valletta

Valletta Cruise Port has welcomed Sky Princess, Princess Cruises’ brand-new ship debuting this October. Sky Princess features exciting entertainment venues, new dining choices and award-winning chef partnerships and can accommodate up to 3,660 passengers with over 1,300 crew. Sky Princess, the newest addition to the Princess Cruises’ fleet elevates the distinctive, contemporary design and luxurious attractions of Princess Cruises to new heights. This is the fourth Royal-class ship, and sister ship to Royal Princess, Regal Princess and Majestic Princess.

AdobeStock_CREDIT Nightman1965

Retail Imports to See Final Tariff-Driven Surge

Imports at the nation’s major retail container ports are expected to see their final surge of the year this month ahead of new tariffs set to take effect in December, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“Retailers are highly competitive, but the ability to compete has been challenging this year because of the uncertainty of the trade war and continued tariff escalation,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.

Photo: BIMCO

IMO2020: Market Uncertainty Brings More Fuel Oil Price Volatility

The oil market has recently been shaken up by geopolitical events, but volatility in the price difference between low and high sulphur fuel cannot be explained by that alone – the uncertainty is the chaos factor.The uncertainty of the upcoming IMO 2020 Sulphur cap regulation (IMO2020) is having a big impact on the bunker market. Whereas, the price for Marine Gas Oil Low Sulphur (MGO LS) has largely remained stable, the price for High Sulphur Fuel oil (HSFO) has been become increasingly more volatile in recent months.

Photo: Namdock

Namdock wins Angolan Navy Maintenance Contract

In September 2019, in a milestone agreement, Namdock concluded a contract to maintain and repair the vessels of the Marinha de Guerra Angolana (MGA), the Angolan Navy.According to Namdock’s Commercial and Operations Manager, Willie Esterhuyse, although the contract has been concluded, the exact date when the vessels will be arriving in Walvis Bay has not been finalized, it is anticipated that this will be early in 2020.In terms of this agreement, Namdock will take two Angolan Navy vessels into its dry docks initially.

© Infinitum Produx / Adobe Stock

Baltic Index Down for 9th Session in a Row

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for a ninth straight session on Friday, on weaker demand for capesize and panamax vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.5%, to 1,378. The index was down 18.8% for the week, its biggest weekly decline since February.The capesize index was down by 73 points, or 2.9%, to 2,444, its lowest since June 26. The index was down 17.2% for the week, marking its fourth weekly decline.

Darius Silenskis . Photo: KN

KN Appoints Darius Silenskis as CEO

Lithuania-based  oil and LNG terminal operator Klaipėdos nafta (KN) appointed Darius Silenskis as the new CEO. Until now, D. Silenskis held the position of director of KN Oil business.The selection procedure of the new CEO was carried out by Independent Board of KN in cooperation with international executive search companies applying the best corporate governance practices. 26 candidates applied for the position, said the operator of the Klaipėda Oil Terminal.D. Silenskis has been working for KN for the last five years.

Pic: Ørsted

Ørsted Expands Rapidly in US

Denmark-based Ørsted A/S, offshore wind giant, is expanding rapidly in the US within the development and construction of offshore and onshore wind power as well as solar PV.The growing portfolio enables Ørsted to increasingly trade the green power generated by the wind and solar farms. Therefore, Ørsted is now setting up a trading office in Chicago which will be trading power in the wholesale markets."With a trading office in the US, we'll be able to reduce risks and ensure higher transfer prices on the power generated by our solar and onshore wind farms…

Photo: Damen

Concordia Damen Wins Ship of the Year

Inland shipping vessel Sendo Liner, built by Concordia Damen shipyard in Netherlands, has won the KNVTS Ship of the Year 2019 Maritime Award.The award jury highlighted the vessel’s ‘future-proof’ propulsion configuration (diesel-electric supplemented with a battery pack) as a crucial factor in selecting the Sendo Liner as winner. The award was presented at the 2019 Maritime Awards Gala.The Sendo Liner is an inland shipping container ship with dimensions 110 x 11.45 x 3.2 m (LxWxT).

Photo: BIMCO

Fuel Spread for 32 Ports on BIMCO Website

BIMCO members can now monitor the price spread between Marine Gas Oil Low Sulphur and 380 centistoke High Sulphur Fuel Oil in 32 different ports around the world with daily information supplied by MABUX.The service is intended to assist members in making bunkering decisions before and after January 1, 2020.“We have seen significant fluctuations in the market over the past couple of months – fluctuations that can only be explained by the massive uncertainty about the future. It is currently not operating by market fundamentals.

Photo: Kooiman Marine Group

Kooiman to Build Patrol Vessels for Antwerp

Kooiman Marine Group has obtained a contract from the Port of Antwerp to design and build 2 aluminium patrol vessels. In ordering the hybrid enforcement vessels, the Port of Antwerp is emphasizing the port’s sustainability and safety ambitions. The innovative hybrid vessels were developed by Kooiman Engineering and will be built by Scheepswerf Gebr. Kooiman, both from Zwijndrecht.The vessel dimensions are LOA 25.0 m, beam 5.4 m, moulded depth 3.1 m and draught 1.36 m. The vessel…

Photo: Metal Shark

Metal Shark To Build Fireboat for Canaveral

Shipbuilder Metal Shark is significantly expanding its presence in the fireboat market with a diverse range of fireboats currently in production for multiple customers. Most notably, the company has announced a custom “70 Defiant” fireboat to be built for Canaveral Fire Rescue in Cape Canaveral, Florida.The new Canaveral fireboat is a 70’ x 22’ welded aluminum monohull pilothouse vessel designed by Metal Shark’s in-house engineering team utilizing a military-proven hull form.

Christopher J. Wiernicki, ABS Chairman, President and CEO

ABS Achieves Safety Standard

ABS has received the ISO 45001:2018 certificate, which demonstrates compliance with the new global standard recognizing the management system for a safe and healthy workplace.“This is a significant accomplishment that places ABS at the forefront of maritime safety practice and underlines our continued commitment to our 157-year safety mission,” said Christopher J. Wiernicki, ABS Chairman, President and CEO. “When you factor in our own industry-leading safety performance it is…

Source: BIMCO

Growth of US Inbound Containers Has Slowed

The accumulated growth rate for US inbound containers has almost been cut in off half from 5.1% in 2018 to 2.6% in August of 2019.Towards the end of 2018, US retailers frontloaded consumer goods ahead of the planned tariff hike in January 2019. While another US tariff hike of 10% on Chinese goods worth USD 160 billion is planned for December 15, BIMCO does not expect the same frontloading to occur this time around, due to heightened uncertainty about the rumored trade deal.According to communication by the US government…

AdobeStock / © rawf8

China, U.S. Reportedly to Cancel Tariffs in Phases

China and the United States have agreed to cancel in phases the tariffs imposed during their months-long trade war, the Chinese commerce ministry said on Thursday, without specifying a timetable.An interim U.S.-China trade deal is widely expected to include a U.S. pledge to scrap tariffs scheduled for Dec. 15 on about $156 billion worth of Chinese imports, including cell phones, laptop computers and toys.Tariff cancellation was an important condition for any agreement, ministry spokesman Gao Feng said…

Pic: GasLog

GasLog Sees Tighter LNG Shipping Market

GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising demand for shipping and higher utilization of the global fleet.These underlying trends in the LNG commodity and shipping markets point towards a structurally tighter market through 2020 and into 2021.As of October 28, 2019, the LNG fleet and orderbook (excluding floating storage and regasification units (FSRUs) and vessels with capacity below 100…

Photo: Carrier Transicold

Carrier Transicold Introduces Next-Gen EverFRESH

Building on the pioneering legacy of the refrigerated container shipping industry’s first controlled-atmosphere system 25 years ago, Carrier Transicold has developed the next-generation EverFRESH system. Carrier Transicold is a part of Carrier, a leading global provider of innovative heating, ventilating and air conditioning (HVAC), refrigeration, fire, security and building automation technologies.The new EverFRESH system was unveiled for attendees at Intermodal Europe 2019,…

Photo: Zeaborne

CPO Tankers Becomes ZEABORN Tankers

Claus-Peter Offen Tankschiffreederei (GmbH & Co.) KG (“CPO Tankers”) has now been renamed ZEABORN Ship Management Tanker GmbH & Cie. KG (“ZEABORN Tankers”). The company is part of Bremen-based ZEABORN Group since June 2019 and has started trading under its new name with effect from November 4,2019.Since August 2018, ZEABORN Group has bundled its ship management activities for dry cargo vessels – container, bulk and multipurpose – under the brand ZEABORN Ship Management. ZEABORN Tankers will operate as a legally independent company under the brand name ZEABORN Ship Management as well…

Chris Hill Operational Performance Director. Photo: ORE Catapult

ORE Catapult Mulls Humber Expansion

UK's technology innovation and research center  Offshore Renewable Energy (ORE) Catapult has announced ambitious expansion plans in the Humber, including a commitment to open a base of operations in Grimsby and create 50 to 70 jobs in the region in the next 10 years.The Catapult is already an active member of Aura, a regional partnership of leading industry and academic organisations focused on driving forward the growth of the UK’s offshore wind sector, and collaborates with…

Image: Siemens Gamesa

SGRE Posts 10.9% Growth in Offshore Sector

Spanish-based engineering company Siemens Gamesa Renewable Energy  (SGRE) closed the fiscal year ended September 30 with double-digit growth (+10.9%) in offshore unit due to new markets, mainly Taiwan, which contributed 1.5 GW in firm orders.Meanwhile, Service orders increased by 13.4% in FY 2019, to €2,715m. This business unit, which contributes with very profitable contracts, accounts for 47% of the company's order book.Wind power has strong potential and significant growth opportunities in the long-term.

Image: Ørsted

Ørsted Issues Green Bonds in Taiwan

Ørsted, the largest energy company in Denmark, has secured nominal TWD 12 billion (USD 395m) through the issuance of green senior bonds, to finance its investments in offshore wind in Taiwan. This transaction marks the first ever green TWD bond to be issued by a foreign corporate in Taiwan. The bonds will be issued in accordance with Ørsted’s Green Finance Framework.Ørsted CFO Marianne Wiinholt, said: “We are very pleased with the completion of this historic transaction which is an important step in the financing of the Changhua 1 & 2a project.

HII President and CEO Mike Petters, center, accepts the 2019 Vice Admiral Emory S. “Jerry” Land Medal from, at left, Fred Harris, former president of General Dynamics NASSCO and Bath Iron Works, and Suzanne Beckstoffer, president of Society of Naval Architect and Marine Engineers (SNAME). The Land Medal is presented to an individual for outstanding accomplishment in the marine field. Photo courtesy of SNAME

HII President and CEO Honored by SNAME

Huntington Ingalls Industries announced that the Society of Naval Architect and Marine Engineers (SNAME) awarded HII President and CEO Mike Petters the 2019 Vice Admiral Emory S. “Jerry” Land Medal. Petters received the Land Medal on Thursday during the Annual SNAME Banquet, held in Tacoma, WA.Mike Petters Accepts Land AwardHII President and CEO Mike Petters, center, accepts the 2019 Vice Admiral Emory S. “Jerry” Land Medal from, at left, Fred Harris, former president of General Dynamics NASSCO and Bath Iron Works…

Ian Barrie  (Photo: Danfoss Drives)

Danfoss Drives Appoints Head of Sales for Americas

Danfoss Drives has named Ian Barrie as its new Head of Sales for the Americas. In this position, Barrie will continue to build and develop strong regional sales channels and verticals for Danfoss Drives’ business within North America and Latin America.Previously, Barrie was Head of Global Key Accounts for Danfoss Drives. He has an extensive 25-year history with Danfoss, wherein he has held several regional and global positions in sales, marketing, and business development. He will be based out of the Danfoss Drives’ Loves Park…

Kristian Kaasing Larsen (Photo: VMS Group)

VMS Group Expands into West Africa

The Danish maritime service company VMS Group A/S expands into West Africa opening a workshop in Walvis Bay, Namibia. A favorable location combined with a rapidly growing offshore market and fishing fleet creates huge potential for a strong, maritime cluster in this region.Being the only port with service facilities between Cape Town, South Africa, and the Canary Islands, Walvis Bay on the Namibian west coast is a key area for marine traffic in the Eastern Atlantic. This is the reason why VMS Group…

Photo: Thuraya

Thuraya Launches MarineStar

Thuraya has responded to strong demand from the maritime sector and distributors by launching the MarineStar, an affordable maritime voice solution with advanced two-way tracking and monitoring capabilities.Designed by the world’s most innovative provider of mobile satellite communications, the MarineStar is Thuraya’s new flagship voice terminal for entry-level maritime users. It is based on the same successful platform as other Thuraya voice hardware that have sold in excess of 1 million units to date.

Roman Miroshnichenko  (Photo: Gazpromneft Marine Lubricants)

Miroshnichenko Named MD at Gazpromneft

Roman Miroshnichenko has been appointed as Managing Director of Gazpromneft Marine Lubricants, the new operating company.Roman Miroshnichenko has more than 20 years of experience in the marine industry, and specifically in the field of marine lubricants. His career in the structure of Gazprom Neft started in 2011, when he took the position of the director of Gazpromneft-Lubricants branch in St. Petersburg and headed a new business line for production and sale of marine lubricants.

Image: Jan De Nul

Jan De Nul Opts for 100% Renewable Fuels

Luxembourg-based maritime construction engineering company Jan De Nul announced its decision to opt for 100% renewable fuels."Jan De Nul Group carries out dredging work in the Benelux with 100% renewable fuel. With this, the world player is further committing itself to immediately and considerably reducing its CO₂ emissions," said a release.Trailing suction hopper dredger Alexander von Humboldt will from now on sail on renewable biofuel from certified and sustainable waste streams.The choice of 100% renewable fuel is part of the ambitious CO₂ reduction objectives of the Jan De Nul Group.

 Image courtesy: PACC Offshore Services Holdings

Kuok Makes Cash Offer for POSH

The Kuok Group, through its investment vehicle Quetzal Capital, announced a voluntary conditional cash offer to buy out Singapore-listed PACC Offshore Services Holdings Ltd (POSH).Quetzal Capital said that the conditional offer to acquire all of POSH for S$0.215 a share, marking a 97.2 percent premium over the stock’s closing price on 30 October.The offer price represents a premium of approximately 109.8%, 96.2%, 69.6% and 35.3% over the one-month, three-month, six-month and twelve-month volume-weighted average prices respectively…

Pic: Hyundai Heavy Industries

HHI Adds $1.2Bln to Coffer Selling Stake in Refining Unit

South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group said that its holding company HHI Holdings Co will receive 1.4 trillion won ($1.24 billion) in proceeds next month from the sale of a stake in its refining unit, Hyundai Oilbank.In April, state-owned Saudi Aramco had agreed to buy a 17 percent stake in HHIs oil processing operations.Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a sales agreement with Saudi Aramco…

Photo: Massachusetts Port Authority

Boston’s Conley Terminal Receives Two New RTG Cranes

On Saturday, November 2nd, the Massachusetts Port Authority (Massport) received two new rubber-tired gantries (RTGs), increasing the number of RTGs at the Paul W. Conley Container Terminal to 16. Adding equipment is part of an $850 million investment to keep Conley Terminal competitive and efficient with truck turntimes averaging under 35 minutes. Another two RTGs were also delivered back in May. The Port of Boston contributes over $8 billion to the regional economy and supports more than 9,000 direct jobs.

Photo: RORO Company

RORO Company Launches New Platform

The Roll On Roll Off (RORO) Company, a digital freight forwarder, recently launched its new platform, RORO.com, to accelerate global trade of large assets. With access to instant quotes, schedules and bookings, users can save time and money on shipping machinery, automobiles, boats and more. Global trade of large assets moves too slowly. Online auctions, such as Ritchie Bros., make it easy to purchase items worldwide, but delivering these items across the world is slow. The current model relies on a subset of shipping companies called freight forwarders.

The ELKA_ARISTOTLE / CREDIT © MarineTraffic.com

Pirates Kidnap Four from Greek Tanker

Pirates attacked a Greek oil tanker off the coast of Togo in the early hours of Monday and fled after taking four crew members as hostages, the West African nation's navy said, two days after a similar attack in the waters of neighbouring Benin.Of the missing crew members, two are Filipinos, one is Greek and one is Georgian, the navy said in a statement. One security guard was also shot and wounded in the attack, it said."Monday, 4th of November 2019, around 0300, the tanker boat Elka Aristotle was attacked around 18 kilometers (11 miles) from the port of Lome by armed individuals…

Photo: Offshore Wind Consultants

OWC Opens Aussie Office

International engineering consultancy Offshore Wind Consultants (OWC) is setting up an office in Australia, as offshore wind plans in the country are moving forward.The International Energy Agency’s recently launched “Offshore Wind Outlook 2019” has identified more than 7,000TWh per year of offshore wind technical potential (roughly 2,000GW of capacity) in waters below 60 meters offshore Australia. The potential adds up to 16,000TWh per year when considering deeper waters.Currently…

Left to Right: Fabiana Simoes Martins, Sanjam Gupta, Alexandra Anagnostis, Despina Panayiotou Theodosiou, Connie Roozen, Angie Hartmann, Naa Densua Aryeetey. Photo: WISTA International

WISTA Re-elects Theodosiou as President

Women’s International Shipping and Trading Association (WISTA) announced that Despina Panayiotou Theodosiou (WISTA Cyprus), CEO of Tototheo Maritime, was re-elected to a second term as President.WISTA International elected Alexandra Anagnostis-Irons, President of Total Marine Solutions (WISTA USA) as Secretary, and Fabiana Simões Martins (WISTA Brazil), as Board Member, to the WISTA International Executive Committee at the 39th WISTA International Annual General Meeting on Grand Cayman on 30 October 2019.Naa Densua Aryeetey (WISTA Ghana)…

Image:  Ports of Sines and the Algarve Authority

Portugal Announces Tender for Vasco da Gama Terminal

The Portuguese government has issued a an international public  tender for the development of the Vasco da Gama container terminal at the Port of Sines, seeking a concessionaire who would invest in the project.According to the government sources, public tender will for a concession period of 50 years with an investment of 642 million euros, adding that the specifications include the construction and operation project, with a deadline of nine months for the submission of proposals.The…

Image:  SEACOR Marine

SEACOR Marine Sells North Sea Standby Biz

US-based  offshore support vessel  (OSV) provider Seacor Marine has decided to sell its North Sea emergency response and rescue vessel business to North Star in a move to cut costs and generate cash to support its core business.Under the terms agreed, North Star will pay approximately US$25.1 million, said the provider of marine and support transportation services to offshore.Based on revenue targets in 2020 and 2021, SEACOR Marine could receive an additional consideration of up to US$5.2. The sale will close in December.

Pic: Hamburg Süd

Hamburg Süd Announces EFF

German container shipping company Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft A/S & Co KG (Hamburg Süd) will introduce an Environmental Fuel Fee (EFF) effective 1 December 2019.According to a press release from the German carrier, EFF is to cover the increase in fuel-related costs associated to the implementation of the IMO 2020 regulation. The EFF tariffs have been calculated using the price difference between high sulfur fuel and low sulfur fuel. The difference calculated is 193…

Photo: Port of Gdansk

Gdansk Ports Aims to be Gateway to Baltic

Europe’s fastest growing port, the Port of Gdansk, has outlined huge expansion plans designed to double its cargo volumes to 100m tonnes a year, during a high-level maritime and business delegation from Poland to Singapore.The delegation marks 50-years of diplomatic ties between the countries and is being organized with PSA International, the Singapore based global ports group. In May this year PSA International formally acquired DCT Gdansk, the largest container terminal in Poland…

George A. (Sandy) Thomson (Photo: Thordon Bearings)

Polymer Pioneer Receives Engineering's Highest Accolade

On October 31st, 2019, George A. (Sandy) Thomson, the founder of Thordon Bearings and a pioneer in the development of advanced polymer materials, was presented with the 2019 Elmer A. Sperry Award in recognition of “leading the innovation in water-lubricated propeller shaft bearings” in marine transportation through the use of polymeric compounds.The award was presented to Mr. Thomson at the SNAME Maritime Convention, in Tacoma, USA, by the Chairman of the Board of the Institute of Marine Engineering, Science and Technology (IMarEST), Mr.

Despina Panayiotou Theodosiou (Photo: Tototheo Maritime)

Theodosiou Re-Elected as WISTA Int'l President

Despina Panayiotou Theodosiou, co-CEO of Tototheo Maritime, has been re-elected as WISTA International President during the association’s 39th Annual General Meeting, held in the Cayman Islands on October 30, 2019.“As 2019 draws to a close, I can already look back and see the work we have achieved within WISTA International and the amount of work and energy put by national WISTA associations around the world. We should all be proud of what we have achieved over the years”, said…

Larry T. Rigdon. Photo: Tidewater

Tidewater Elects Larry Rigdon as Chairman

Tidewater, which owns and operates the largest fleet of offshore support vessels in the industry, announced that Larry T. Rigdon has been elected Chairman of the Board effective October 28th.Rigdon replaces Dr. Thomas R. Bates, Jr., who has recently resigned from the board, said a press note.Rigdon has been a member of the Tidewater Board of Directors since August 2017. He has extensive prior experience as an executive at Tidewater. Rigdon served as Interim Chief Executive Officer…

Image: Okeanis Eco Tankers

OET Gets Loan for Two Suezmax Newbuilds

Greece-based shipping company Okeanis Eco Tankers (OET) said it  has secured funding to finance the pre-delivery of two new ECO scrubber-fitted Suezmax tankers.The Greek tanker owner and operator said that it has secured commitment to a USD 45.9 million secured loan facility from Alpha Bank A.E. to finance 88.95% of the total pre-delivery yard installments for the vessel pair.The two ECO design, scrubber-fitted 158,000 DWT Suezmax tankers are under construction at Hyundai Samho Heavy Industries and set for delivery in August 2020.The loan facility is available immediately…

Symeon Palios, Chairman and Chief Executive Officer. Photo: Performance Shipping

Performance Shipping Appoints Dy CEO

Performance Shipping, a global shipping company specializing in the ownership of vessels,  announced that its board of directors has unanimously appointed Andreas Michalopoulos to the position of Deputy Chief Executive Officer, effective immediately.Michalopoulos, who is presently the Greek company’s Chief Financial Officer and Treasurer, will retain such position for the time being.While it is expected that Michalopoulos will eventually succeed Symeon Palios as Chief Executive Officer…

Photo: Ports & Maritime Organization

Iranian, Algerian Ports Sign MoU

A delegation of Algerian Ministry of Transport executives visiting Iran's Imam Khomeini Port Special Economic Zone explored the development of port and maritime between the port of Imam Khomeini and the ports of Algeria.Adel Deris, Director General of Khuzestan Ports and Maritime, referring to Algerian delegation's two-day visit to Imam Khomeini Port Complex and other Ports in Khuzestan Province in Iran, said: "During this visit, the officials of Algeria's Ministry of Transport visited Khuzestan Port Facilities and Achievements…

“You still have to come up with a concept, and literally it can come to us on the back of a napkin. Wherever the idea starts, it must then be boiled down to the specifics. CAD has obviously helped to speed that process along, but in my mind, the implementation of 2D and 3D CAD hasn’t really shortened the entire design process, but it’s allowed us to get a better product.”
Cory Wood, Vice President, Bristol Harbor Group, Inc.

Interview: Cory Wood, VP, Bristol Harbor Group

Born at the University of Michigan in the early 1990s, Bristol Harbor Group (BHG) has grown into a diverse and widely respected naval architecture and marine engineering firm. Cory Wood, Vice President and one of the four co-founders of BHG, discusses the companies past and design drivers to power its future.The University of Michigan runs one of the most prestigious naval architecture and marine engineering programs in the country, but when Cory Wood entered U of M, he did so with the intent of becoming an aerospace engineer.

Nate Guy  (Photo: Greensea)

Greensea Expands Workforce

Greensea, creator of OPENSEA, the universal open software architecture for the marine industry, recently added three key personnel to its team to address current and future growth and to support its core business strategies. Positions have been created to support existing needs in business development, finance, and program management. Greg Probst comes to Greensea as Vice President, Sales and Business Development, having worked at Teledyne Marine where he drove sales and business development in the US defense sector.

Bray Joins Furuno USA

Furuno USA has announced the hiring of Matt Bray as a new Sales Associate for the Southeast region. A 2010 graduate of Fairleigh Dickinson University, Bray comes to Furuno with a background in marine electronics and electronics system installation, having led technical installation teams for several years.Bray will be working with the Furuno team in Florida, Georgia, and South Carolina with the aim of expanding sales and service in all market segments.

Richard Greiner, Partner, Shipping & Transport at BDO, said: “The predicted 2.5% and 2.7% increases in operating costs for 2019 and 2020 respectively compare to an average fall in actual operating costs in 2018 of 1.8% across all main ship types recorded in the recent BDO OpCost study."  (Photo: BDO)

Vessel Op Costs to Rise in 2019 and 2020

International accountant and shipping adviser BDO said total operating costs in the shipping industry are expected to rise by 2.5% in 2019 and by 2.7% in 2020.Responses to the firm’s latest annual Future Operating Costs Survey revealed that insurance is the cost category likely to increase most significantly in both 2019 and 2020. In the case of protection and indemnity insurance, the predicted increase is 2.0% for each of the years under review, while hull and machinery insurance…

Photo courtesy of Mackay Marine

Mackay Marine Acquires ChartCo’s Compass Business

Mackay Marine has acquired ChartCo’s Compass Services’ comprehensive magnetic compass business, effective October 9, 2019. This includes personnel, field service kits, compass calibration & repair laboratory, tools & equipment, compass & spare parts inventory, customer contracts, and vendor agencies.Mackay currently provides worldwide compass adjusting, audits, and field service through our 36-certified Magnetic Compass Adjusters at numerous ports along major trading routes. The acquisition of ChartCo’s business expands Mackay capabilities to perform in-shop…

AdobeStock / © Rawf8

China to Proceed with US Trade Talks as Planned

China's commerce ministry said on Thursday that Beijing and Washington will proceed with the bilateral trade negotiations according to plan and that the talks are progressing well.The ministry, in a statement, said the two sides remain in close communication and that the lead trade negotiators for Beijing and Washington will hold a telephone call on Friday.U.S. President Donald Trump said he hoped to meet Chinese President Xi Jinping next month to sign an interim trade deal during the Nov.

Graph: Rystad Energy

E&P Companies Struggle on RoI

International  exploration & production (E&P) are struggling to make money from offshore investments made during the latest investment upturn, according to a new study by Rystad Energy.Rystad Energy has evaluated all offshore oil fields sanctioned since 2010 and ranked them by estimated value per barrel of oil (boe) under various oil price scenarios. The return on investment (RoI) figures were not up to the mark.The sanctioning activity was record-high during the strong investment cycle from 2010 to 2014…

Photo: Naval Group

Naval Group, Fincantieri JV Named NAVIRIS

French shipbuilders Naval Group and Italy's Fincantieri announced the name of the 50/50  joint venture NAVIRIS.The name was presented during the recent Steering Committee held in Genoa (it meets every quarter alternatively in France and Italy) and is a new step in the strong collaboration between Fincantieri and Naval Group.The Alliance between Fincantieri and Naval Group represents a great opportunity for both groups and their ecosystems to enhance their ability to better serve the French and Italian navies…

Image: MasterCraft Boat Holdings

MasterCraft Boat Appoints Frederick Brightbill as CEO

MasterCraft Boat Holdings announced that its Board of Directors has appointed current Board Chair, Frederick A. Brightbill, as Interim Chief Executive Officer, effective immediately.Brightbill’s appointment follows Terry McNew’s decision to step down as President, Chief Executive Officer and a Director of the Company to pursue an opportunity outside of the boating industry. Brightbill is expected to serve until the Company completes a search and appoints a new Chief Executive Officer.“On behalf of the Board and the entire organization…

Image: Grindrod Shipping Holdings

Grindrod Announces Finance Arrangement

Grindrod Shipping Holdings, a global provider of maritime transportation services in the dry-bulk and product tanker sectors, announced a number of transactions relating to a new financing arrangement, its fleet and share repurchases."Further to the previously-announced financing arrangements in respect of IVS Knot and IVS Kinglet, we expect to enter into a similar financing arrangement with a Japanese shipowner in respect of the 2011-built handy-size dry-bulk carrier, IVS Magpie…

USMI, Brunswick Enter into MOU

United States Marine, Inc. (USMI) and Brunswick Commercial and Government Products (BCGP) are pleased to announce they have entered into a Memorandum of Understanding to explore potential business opportunities.USMI and BCGP have a history of providing our warfighters with mission proven vessels to help ensure our troops come home safely. “We have always admired Brunswick craft. This is an opportunity for both of us to work together to explore our core strengths and synergies to determine how we can provide unique craft to the military market with our combined expertise.

Maersk Join Forces to Develop LEO

A.P. Moller - Maersk alongside with Wallenius Wilhelmsen, BMW Group, H&M Group, Levi Strauss & Co. and, Marks & Spencer to explore LEO - a blend of lignin and ethanol - that could be part of the future solution for sustainable shipping.From the phone, tablet or computer you are reading this on, to the fruit you eat, the trousers you wear or the car you drive, around 80% of the goods you use every day are delivered to you by sea. Shipping accounts for 2-3% of global CO2 emissions, a proportion that is set to increase as global trade continues to grow at a sluggish but steady pace.

Ron Huibers, President Volvo Penta Americas

Changes to Volvo Penta Executive Group Announced

After 26 years with Volvo and 7 as President of Volvo Penta Americas, Ron Huibers has decided to retire from his current role and move to another role within Volvo Penta. Succeeding Ron will be Martin Bjuve, currently CFO and SVP Business Office Volvo Penta. Planned transition date will be January 1, 2020. Bjorn Ingemanson, President and CEO Volvo Penta, today announced that Ron Huibers, President Volvo Penta Americas, has decided to retire from his current role and take up a new role within the company. "The team, customers and industries we serve here have been exciting and rewarding.

Block Island Wind Farm, U.S. Photo: Ørsted

Ørsted to Divest Stake in NJ OWP to PSEG

Danish wind developer Ørsted A/S will enter into exclusive negotiations for Public Service Enterprise Group  (PSEG) to potentially acquire a 25% interest in the proposed 1,100-MW Ocean Wind project.Subject to negotiations toward a joint venture agreement, advanced due diligence and any required regulatory approvals, PSEG would acquire 25% of Ocean Wind.Ocean Wind is an 1,100MW offshore wind project which will supply more than half a million New Jersey homes with clean power from its location 15 miles off the coast of Atlantic City.

Heather Tomley. Photo: Port of Long Beach

PoLB Names Heather Tomley as MD

Port of Long Beach (PoLB) informed that the Long Beach Board of Harbor Commissioners voted unanimously to promote Heather Tomley, a widely respected Southern California leader in environmental improvement programs, to Managing Director of Planning and Environmental Affairs for the Harbor Department.Tomley, with the Department since 2005, has served as the Acting Managing Director for the past 12 months while the Port conducted a nationwide search for candidates for the executive…

A Euronav tanker in Drydock. Credit: Euronav

Euronav Readies Fleet for IMO 2020 Start

Belgian tanker operator Euronav expects to complete preparations on its fleet in coming weeks ahead of tougher rules next year limiting sulphur emissions from ocean-going vessels, a company executive said on Tuesday.Ship owners must cut emissions by reducing the sulphur content in fuel to 0.5% from 3.5% under the rules, which are set by the United Nations' International Maritime Organization (IMO), and come into effect in January.To comply, ship owners can use low-sulphur fuel…

Louis Bock (Photo: Crowley)

Crowley Scholarships to Webb Institute Students

Crowley Maritime Corp. has awarded Thomas B. Crowley Sr. Memorial Scholarships to two seniors attending Webb Institute, a four-year college specializing in naval architecture and marine engineering.In making the award, the Webb scholarship selection committee honored Louis Bock of Pipersville, Pa., and Mara DuVernois, of Menomonie, Wisc., based on their academic excellence, volunteer efforts and leadership skills.Among various roles on campus, Bock serves as chairman of Webb Institute’s Honor Council, which is tasked with upholding the principles of Webb’s Honor and Conduct Codes.

Photo courtesy of Fincantieri

Fincantieri Presents "Carnival Panorama" in Marghera

“Carnival Panorama”, the new ship of Carnival Cruise Line, a brand under Carnival Corporation & plc, the world’s largest cruise ship operator, was presented at the Fincantieri shipyard in Marghera (Venice) at the presence of the Italian Minister of Infrastructures and Transport Paola De Micheli.The ceremony was attended, among others, by Christine Duffy, President of Carnival Cruise Line, who was welcomed by the Chairman of Fincantieri Giampiero Massolo and the CEO Giuseppe Bono.The new unit is a sister ship of “Carnival Vista”…

Photo: Dredging Contractors of America

Full Utilization of HMTF Passes in U.S. House

This evening the U.S. House of Representatives passed by a recorded vote the Full Utilization of the Harbor Maintenance Trust Fund (HMTF), H.R. 2440. The vote was 296 in favor and 109 opposed. The voting required a two-thirds super majority of the House in order to pass under “suspension of the rules.”There were  seventeen (17) bills presented in the House of Representatives today with fifteen (15) bills passing by voice vote. The Full Utilization of the HMTF was one of two bills…

Photo courtesy of e5 Lab Inc

'eTug' Powered by Battery, Hydrogen Fuel Cell

Tokyo Kisen Co., Ltd. and e5 Lab Inc. have jointly developed the new concept design of “e5 Tug,” electric propulsion harbor tugboat powered by large-capacity battery and a hydrogen fuel cell.The e5 Tug is a harbor tug fully electrified and designed to minimize environmental footprint and is equipped with a propulsion system running on “e5 powertrain platform”, devised and planned by e5 Lab, which utilizes a large-capacity battery system as a main power source and a hydrogen fuel…

AdobeStock / © Jose Gill

Unipec Resumes Using COSCO Tankers

China's Unipec has resumed using tankers owned by COSCO weeks after it suspended bookings due to U.S. sanctions on some of the Chinese shipping company's subsidiaries, trade sources said on Tuesday.Refinitiv data showed one COSCO owned tanker - belonging to a subsidiary not affected by the U.S. sanctions - was sailing to Asia with a cargo of oil chartered by Unipec, the trading arm of Asia's top oil refiner, Sinopec.Sinopec officials did not immediately respond to requests for comment after business hours.In one of the biggest sanctions actions taken by the U.S.

File image: A CMA CGM boxship underway. CREDIT: CMA CGM

CMA CGM Buys Stake in Wing

CMA CGM has taken a position in Wing to support the growth of an innovative urban logistics service dedicated to e-commerce.CEVA Logistics and Wing are entering into a major industrial and commercial partnership for the benefit of their respective customers. Wing customers see a courier show up to pick up orders sold on the Internet. These are then deposited in a logistics warehouse where they are packaged and shipped. In less than 48 hours, orders are delivered to the end customer.

Image: Prosafe

Norway Rejects Prosafe-Floatel Merger

The Norwegian Competition Authority has rejected the proposed merger between Scandinavian offshore accommodation/construction support providers Prosafe and Floatel.Oslo-listed accommodation services player Prosafe in a press release said that it will study the decision in detail, and expects to decide on whether to appeal shortly and within the deadline within three weeks.The company owns and operates semi-submersible accommodation vessels operating at present in the North Sea…

Image: Milaha

Milaha's 9-months Net Profit Up 5%

Qatar Navigation (Milaha) reported a 5% year-on-year increase in net profit to QR419mn in the first nine months of this year on account of the earnings expansion in its maritime and logistics business as well as gas and petrochem.The company's earnings-per-share was QR0.37 compared to QR0.35 for the same period in 2018. Operating revenues stood at QR1.83bn for the nine months ended September 30, 2019, against QR1.81bn for the same period in 2018.Milaha Maritime & Logistics’ operating revenue increased by QR 18 million and net profit by QR 52 million…

Export cable laying, Gwynt y Môr Offshore Wind Farm. Photo: Macquarie Group Limited

Macquarie Doubles Gwynt y Môr Stake

Macquarie Infrastructure and Real Assets (MIRA) has agreed to lift its shareholding in the 576-MW Gwynt y Mor offshore wind farm in the UK by purchasing an additional 10% stake for an undisclosed sum.MIRA has managed a 10 per cent stake in Gwynt y Môr since 2017 following Macquarie Group’s acquisition of the Green Investment Bank.Gwynt y Môr is a 576 MW offshore wind farm positioned 13 kilometers off the coast of North Wales. Operational since 2015, Gwynt y Môr is comprised of 160 3.6 MW wind turbines spread across 80 square kilometers.

Niels Aalund, President, International Propeller Club

Aalund Named International Propeller Club's President

Niels Aalund was elected at the 93rd International Convention and Conference in New Orleans on October 17th.New Orleans, LA: Prominent maritime industry stakeholder Niels Aalund has been elected President of the International Propeller Club. Mr. Aalund will serve a two-year term, commencing from October 17th. Aalund, a well-known maritime subject matter expert and executive, currently serves as an Officer and as Senior Vice-President of the West Gulf Maritime Association (WGMA).