IHS Energy: US crude exports to triple by 2020 Following the repeal of the ban on crude exports, America's outbound volumes should grow to 1.7 million barrels/day (bpd) by 2020, according to a new report by the consultancy IHS Energy. In January-September 2015, US exports of crude to Canada, which are not covered by the ban, combined with allowable condensate...
US Coast Guard cyber authority gets boost in Congress Pier T at Port of Long Beach. Credit: Port of Long BeachLawmakers introduced and quickly passed a bill that makes the US Coast Guard the primary agency responsible for reducing the risk of a cyber-attack against American maritime interests. The Strengthening Cybersecurity Information Sharing and Coordination in Our Ports Act of...
Peel Ports buys Great Yarmouth Port Company Peel Ports Group (PPG) has completed the acquisition of Great Yarmouth Port Co (GYPC) from International Port Holdings for an undisclosed sum. The port of Great Yarmouth is a strategic addition to PPG's existing and extensive portfolio in the British Isles. This includes ports and terminals in Clydeport, Dublin, Heysham, Liverpool,...
New dredging approach in New Jersey "You have to try something else," said Joe Hill, owner of New Jersey's Barnegat Bay Dredging Company. That 'something else' involves fresh approaches to storing, disposing, and using dredged material in his state, where disposal spaces for dredged materials are fast filling to the brim. Hill and his team at the...
Environmental dredging - New Jersey's coastal innovation The skyline of Atlantic City, New Jersey, is visible on the horizon from the sands of Mordecai Island, a salt marsh island that is being fortified in an ecosystem restoration campaign. The view of Atlantic City, a gambling destination, is apropos, because on Mordecai Island, stakeholders are doubling down on an...
JF Brennan completes inaugural project with new barracuda class dredge - Victor Buhr RESERVE, LOUISIANA - J.F. Brennan Company, Inc., based in LaCrosse, Wisconsin, recently completed the inaugural project for its newest, fully customized Barracuda Class dredge from DSC Dredge. The Quad Cities Generating Station, a two-unit nuclear power plant located on the Mississippi River near Cordova, Illinois, requires biennial dredging of siltation...
Helsinki's new ferry terminal has style and substance Artist's impression of the new terminal. Credit: PES-ArkkitehditA sleek and modern form, a maritime marquee, an uber-efficient building, a conspicuous sign of the growing ferry business - however you describe it, Helsinki's new passenger terminal is a study in how to build where the city meets the sea. Finland's Port of Helsinki's USD98...
Salalah opens USD143 million general cargo and liquid bulk terminal Opening ceremony for the liquid bulk terminal. Credit: APM TerminalsA major Arab Gulf regional gateway port and transhipment hub on the Arabian Sea, the port of Salalah in Oman has opened a new deepwater general cargo and liquid bulk terminal. Adding 20 million tonnes of dry cargo and six million tonnes...
India's Shipping Corp goes on five-ship spending spree Shipping Corporation of India. Credit: AffeldtCashed-up Shipping Corporation of India, the country's largest carrier, is evaluating offers from undisclosed shipyards and shipping companies to buy five vessels, which would be its first purchase since April 2013. "We are evaluating the offers and will take a final decision on the ship purchases...
Ship recycling licence comes to Europe Careful asbestos removal in Dalian. An EU recycling licence would support safe recycling. Credit: DSIC Marine Services Co Ltd.By the end of December, a report will be submitted to the European Commission proposing a financial mechanism to incentivise sustainable shipbreaking practices. Under the system, ships calling at European ports will pay...
Ship recycling yards 'should look to EU regulation', says activist group India's Priya Blue Industries recycling yard is one of four to win international-level compliance. Credit: Priya Blue Industries.As two more Indian ship recycling yards achieve compliance with international standards, environmental activist group NGO Shipbreaking Platform says yards need to start using the EU regulation as their standard. This week, the two...
Van Oord names new Damen-built CSD Mangystau The naming ceremony was held at Damen Dredging Equipment's yard in Nijkerk, the Netherlands, and was performed by Mrs J.P.T.M. Verwijs, wife of the chairman of Van Oord's Works Council, with members of both the Van Oord and Damen families present. Mangystau is the second modified Damen CSD 650 cutter suction...
SITC redelivers chartered-in ships as newbuilds arrive An SITC bulker. Credit: HasenpuschChinese intra-Asia shipping line SITC International has been returning chartered-in ships and choosing not to renew charterhires as the freight market comes under pressure. Ship brokers that have dealings with SITC told IHS Fairplay that the company has redelivered more than six ships this year. One broker said,...
No general increase for Korea P&I members in 2016 Credit: IHSKorea P&I Club has announced that it will not charge a general increase in member premiums in 2016. The club, whose members are mainly South Korean shipowners, said, "Our board of directors agreed that there would be no general increase in 2016 for our members, even if general increase is...
Avance Gas withdraws Aurora bid Avance Gas vessel Venus Glory. Credit: FotofliteAvance Gas Holding, the listed Norwegian VLGC owner, says it has withdrawn its offer for Aurora LPG, another listed VLGC company, after its bid failed to reach a sharply reduced level of acceptances. The failure of the bid did not come as a surprise as...
Cosco Corp excluded from COSCO/China Shipping tie-up Credit: Cosco CorpThe exclusion of Cosco Corporation, the Singapore-listed shipbuilding and dry bulk shipping unit of COSCO group, from its parent's impending merger with fellow Chinese state-owned shipping behemoth China Shipping Group, has emphasised the predicament the unit is facing. In a 16 December report, analyst Ho Pei Hwa, on behalf...
Chabahar port development delayed as India and Iran struggle to agree terms Indian shipping minister Nitin Gadkari. Credit: PAIndia and Iran are trying to agree contract terms to pave the way for work to begin on the development of the port of Chabahar in southeastern Iran. A memorandum of understanding (MoU) to build and operate cargo facilities at the port was signed...
SBM Offshore completes financing for FPSO Netherlands-based SBM Offshore has completed the USD800 million financing of floating production, storage and offloading (FPSO) vessel Turritella. This involved the creation of a joint-venture company to operate the vessel, with SBM Offshore having a 55% stake, and Japanese companies Mitsubishi Corporation and NYK Line holding 30% and 15% respectively. The joint venture...
Wuchang shipbuilding wins Marin Teknikk design DSCV pair China's Wuchang Shipbuilding has secured a newbuilding contract for the construction of up to two Offshore Dive and Construction vessels. Singapore based Ultra Deep Offshore Ltd placed the order for one firm vessel with an option for a second vessel that has to be exercised before the end of April 2016. The...
Ship collision causes oil spillage in Vietnam A collision in Tien River, south of Tien Giang Province, Vietnam, has resulted in a massive oil spill in the waterway. A ship carrying 1.2 million litres of petrol collided with a 998-tonne barge loaded with construction materials on 15 December 2015. The impact of the collision has left ship, SG2674 with...
Six crew missing after ship collision off Batam, Indonesia Six crew are missing after Cayman Islands-flagged tanker Stolt Commitment collided with Antigua & Barbuda-flagged cargo ship Thorco Cloud on 16 December 2015 at 20:14 h local time, 6 nm northwest of Batam. After the collision, the 10,385-dwt cargo ship sank with its loaded cargo of 560 tonnes of bunker fuel,...
Analysts weigh shipping impacts of US crude export move Deutsche Bank analyst Amit Mehrotra. Credit: Chris Preovolos/Marine Money.With America poised to allow exports of crude oil for the first time in 40 years, analysts are describing the shipping impact as a puzzle with many moving parts. As Deutsche Bank analyst Amit Mehrotra put it, the new US policy will be...
Seanergy Maritime posts net loss for the third quarter Chief executive says dry bulk market is experiencing one of the worst crises of the last 25 years
Data Hub: Trade Routes Large vessels cascade onto Asia-Africa trades: Port developments allow post-panamax vessels to move in on African trade
Stable VLGC rate during seasonal weakness bodes well Spot rate has hovered at around $68 per tonne since late November
Beijing tightens entry criteria for shipyard whitelist Orderbook data is added to the must-have baskets
DP World confirms $1.9bn Chinese port venture Terminal operator and partners ink long term deal to develop Chinese terminals through to 2020
ENL cancels $100m Viking Supply Ships AHTS contract Charter termination will lead to $33m in lost income
Nordic American Tankers refinances credit facility Facility is increased from $430m to $500m as terms improved
Frontline seals $500m refinancing package Tanker giant expects positive cash flow and profit effect from the five-year deal
Vancouver looks to join the 'big ship' party Canada's GCT Deltaport gears up for 18,000 teu-plus ships
POSH delivers profit warning Offshore operator will take impairment on goodwill from 2007 acquisition of PSA Marine
USCG rejects ballast water approval methods Coast Guard decision adds confusion to market as industry awaits IMO recount to determine if regulations come into force in 2016
Pakistan emerges as Asia's newest LNG destination Shell and Gunvor likely to win Pakistan State Oil's new LNG tender
Singapore container throughput drops in November from year before Second straight month volumes fall 16% year-on-year
Russia's sanctions on Turkey have minimal impact on shipping, for now Biggest effects to be felt by only a small number of operators carrying fruit and vegetables, but there is potential for Russian customs delays
Port of Antwerp divests stake in Essar Ports and ends strategic pact Antwerp Port subsidiary still carrying out consultancy work for Essar Ports
Teekay Corp and its subsidiaries slash dividends Dividend cuts projected to generate combined cash savings in excess of $435m to fund future capital projects
South Carolina reports November box traffic up 6.5% on year Growth to remain above US port market average
Cargoship sinks in Singapore Strait after collision with chemical tanker Six crew members missing in Indonesian waters off Batam Island
Port of Rotterdam adds fresh incentive for ships to bunker LNG Port offering a 10% discount on fees until 2020 for vessels using liquefied natural gas as fuel
Goldenport's chairman and president step down Robert Crawley to succeed Chris Walton as non-executive chairman as Paris Dragnis announces retirement from board
FMC continues to monitor impact of PierPASS operations Move is part of FMC's statutory mandate to check on agreements for fairness in competition
Avance's attempt to buy Aurora LPG thwarted Conditions of offer not met by Wednesday deadline
HSH Nordbank will get tougher on bad loans, Torsten Temp warns German lender stays in big league, with book still topping $20bn, says shipping chief
Crude futures settle at 2008/09 lows on rising dollar, oversupply NYMEX January crude settled down 57 cents at $34.95/b, lowest front-month settle since February 2009.
Barge for LNG bunkering to be lauched early next year Hull is almost complete.
Bank targets ship in bunkers row For costs as well as outstanding fuel bill.
Bunker prices to remain under pressure next month Key Singapore IFO grade has lost 11% of its value in the last four days.
Six missing after freight sinks off Singapore MPA puts anti-pollution craft on stand-by after reports that stricken vessel had 560 mt of bunker on board.
Cheaper bunkers boon to owners, poll confirms Average annual savings of well over $100 million recorded.
Rotterdam reduces port fees for LNG bunkers 10% discount on offer to participating ships.
ExxonMobil starts MFMS bunkering operations in Hong Kong Installs mass flow metering system on bunker tanker Anshing.
Fitch changes outlook for shipping Smaller operators remain most vulnerable.
HK bunker supply tightens amid stock-taking by terminal operators Terminal operators at Hong Kong carry out stock-taking operations earlier than usual.
New Orleans high sulfur bunker fuel prices hit nearly four-month high 'New Orleans is in serious trouble,' says an East Coast trader with business in the port.
US EIA says crude stocks rise 4.8 million barrels Inventories have increased 11 of the last 12 reporting periods, refusing to budge lower despite the end of the autumn refinery maintenance season.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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