Maritime News from gCaptain.com

Next Offshore Wind in U.S. Can Compete With Gas, Developer Says

News from gCaptain - Fri, 06/08/2018 - 14:27
By Jim Efstathiou Jr. (Bloomberg) — Massive offshore wind turbines keep getting bigger, and that’s helping make the power cheaper — to the point where developers say new projects in U.S. waters can compete with natural gas. The price “is going to be a real eye-opener,” said Bryan Martin, chairman of Deepwater Wind LLC, which […]
Categories: Maritime News

Inmarsat Rejects Lowball Takeover Bid from EchoStar

News from gCaptain - Fri, 06/08/2018 - 13:47
By Nick Turner (Bloomberg) — Inmarsat Plc rebuffed a takeover proposal from EchoStar Corp., saying the bid undervalued the British satellite company and its outlook as an independent business. The “highly preliminary” offer was turned down by the board after discussions with its advisers, Inmarsat said in a statement on Friday. “It very significantly undervalued […]
Categories: Maritime News

Bankrupt Seadrill Anticipates Emerging from Chapter 11 in July

News from gCaptain - Fri, 06/08/2018 - 13:11
Bankrupt offshore drilling contractor Seadrill has announced that it anticipates emerge from the chapter 11 process in the first half of July 2018 upon completion of its commitments under a plan of reorganization agreed to by stakeholders. The restructuring plan, which was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas in […]
Categories: Maritime News

Nigeria Needs $12 Billion to Avoid Missing the LNG Boat

News from gCaptain - Fri, 06/08/2018 - 12:41
By Paul Wallace, Paul Burkhardt and Elisha Bala-Gbogbo (Bloomberg) — On a tropical island just off the coast of Nigeria, hundreds of engineers work around the clock to produce liquefied natural gas at a plant the size of Lower Manhattan. Operator Nigeria LNG Ltd. says it will decide later this year whether to invest more than $10 […]
Categories: Maritime News

ONE Joins Rivals in Introducing Emergency Bunker Fuel Surcharge

News from gCaptain - Fri, 06/08/2018 - 11:42
Freshly-minted Japanese container shipping line Ocean Network Express (ONE) has become the latest box line to introduce an emergency bunker fuel surcharge due to rising fuel prices over the last several months. ONE said the “Bunker cost Recovery Surcharge (BRS)” charge, ranging from $37 to $60 per dry TEU and up to $110 per reefer, […]
Categories: Maritime News

Stena Line to Use Artificial Intelligence Technology to Reduce Fuel Consumption

News from gCaptain - Fri, 06/08/2018 - 10:44
European shipping company Stena Line has partnered a subsidiary of Tokyo-based Hitachi to implement artificial intelligence technology on ships, marking the latest in what seems like an ever-growing list of shipping companies exploring the use of AI to improve operations. Stena Line and Hitachi Europe say the partnership is aimed at using AI to reduce […]
Categories: Maritime News

Retail Imports Expected to Hit Record Numbers this Summer Despite Tariff Threat

News from gCaptain - Fri, 06/08/2018 - 10:13
Imports at the United States’ major retail container ports are expected to set record numbers this summer and fall even as the debate over trade and tariffs continues in Washington, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. According to the, ports covered handled 1.63 […]
Categories: Maritime News

China’s Waste Ban Hits Asian Ports

News from gCaptain - Fri, 06/08/2018 - 10:00
By Sam Whelan, Asia correspondent (The Loadstar) – Port operations in South-east Asia have come under increasing pressure from a build-up in scrap cargo, following China’s crackdown on imported waste. In Vietnam, a dramatic increase in scrap-laden containers forced Ho Chi Minh City’s overloaded Cat Lai port to temporarily stop receiving plastic and paper waste on […]
Categories: Maritime News

Greek Shipowners Say EU Tax Pressure Could Make Brexit ‘Not a Bad Thing’

News from gCaptain - Fri, 06/08/2018 - 09:46
ATHENS, June 8 (Reuters) – Greek shipowners could relocate to Britain after it leaves the European Union if European regulators demand changes to favourable shipping taxes in Greece, a top industry official said on Friday. The European Union has been pressing Greece to end generous tax allowances it grants shipowners, although the government has steered […]
Categories: Maritime News

Venezuela’s PDVSA Takes First Step to Ease Huge Oil Export Backlog

News from gCaptain - Thu, 06/07/2018 - 14:58
  By Marianna Parraga and Mircely Guanipa HOUSTON/PUNTO FIJO, Venezuela, June 7 (Reuters) – Venezuela has begun testing seaborne oil transfers to ease a severe backlog of crude deliveries from its main terminals, according to sources and data, as chronic delays and production declines could temporarily halt state-run PDVSA’s supply contracts if they are not cleared […]
Categories: Maritime News

Concerned Sailors Warn of Unlit Drydock Sections Floating Around Bermuda

News from gCaptain - Thu, 06/07/2018 - 14:17
A group of Bermuda government officials and concerned yachting professionals are warning about recent sightings of at least two large sections of an unlit dry dock reportedly floating off Bermuda. The sections are believed to belong to a drydock formerly belonging to the former Avondale Shipyard. The drydock left the Mississippi River yard in September […]
Categories: Maritime News

U.S. East Coast Dockworkers Agree to New Six-Year Master Contract After ‘Tough’ Negotiations

News from gCaptain - Thu, 06/07/2018 - 13:30
By Alexander Whiteman (The Loadstar) – Shippers are breathing a sigh of relief after US east and Gulf coast dock workers reached “tentative” agreement on a new six-year master contract, following years of tough negotiations. The International Longshoremen’s Association (ILA) announced the news yesterday, adding that the agreement with the US Maritime Alliance (USMX) now needed […]
Categories: Maritime News

Here Are the Commodities Most Likely Affected by U.S.-China Trade Talks

News from gCaptain - Thu, 06/07/2018 - 11:04
  By Bloomberg News (Bloomberg) — American crude drillers, coal miners and farmers are set to be among the beneficiaries of the Trump Administration’s trade pressure on China. China has offered to boost purchases of American goods by about $25 billion this year, showing particular willingness to step up imports of crude oil, coal and farm products, […]
Categories: Maritime News

Ezion Liftboat Capsizes During Tow in South China Sea

News from gCaptain - Thu, 06/07/2018 - 09:11
A liftboat belonging to Ezion Holdings has capsized in the South China Sea during a dead tow from Vietnam to Taiwan, the company said Wednesday. The vessel was unmanned at the time. Singapore-based Ezion said its liftboat Tera Lyza was being towed by the tug Teras Eden when it developed a sudden list to the […]
Categories: Maritime News

Man Rescued After Falling Overboard from Containership Off Port Everglades, Florida

News from gCaptain - Thu, 06/07/2018 - 08:40
This guy is lucky to be alive… The U.S. Coast Guard rescued a 25-year-old Filipino man from the water about 5 miles east of Port Everglades, Florida on Wednesday after the man apparently fell overboard from a containership. Rescued was Lorejei Moscoso, a crew member on board the Liberian-flagged containership, Vega Sagittarius. Moscoso was reported […]
Categories: Maritime News

U.S. Crude Exports Reach All-Time High

News from gCaptain - Thu, 06/07/2018 - 08:06
By Stephen Cunningham (Bloomberg) — Booming U.S. shale production is fueling record crude exports, with shipments reaching an all-time high of 1.76 million barrels a day in April. That’s up from 1.67 million in March, according to U.S. Census Bureau data released on Wednesday. Total exports reached 52.7 million barrels for the month. “Given that […]
Categories: Maritime News

Homeland signs for sixth Damen 3307 Patrol

News from gCaptain - Thu, 06/07/2018 - 06:22
Press Release- Damen Shipyards – Homeland Integrated Offshore Services has signed a contract with Damen Shipyards Group for another Damen 3307 Patrol Vessel. The vessel will be another milestone collaboration between the companies, who have been in cooperation since Damen delivered Homeland’s first 3307 Patrol Vessel in 2014. The vessel named, Guardian 6, will join its sister vessels […]
Categories: Maritime News

Seastreak Commodore delivers Speed Capacity and Offshore Capability

News from gCaptain - Thu, 06/07/2018 - 06:17
Incat Crowther is pleased to announce the delivery of Seastreak Commodore. The vessel has been developed in response to significant growth in passenger volume at Seastreak, and brings the operator’s fleet of Incat Crowther-designed vessels to a total of eight. At 45m in length with a capacity for 600 passengers, Seastreak Commondore is the highest […]
Categories: Maritime News

American Oil Fight to Heat Up as U.S. Keeps More for Itself

News from gCaptain - Thu, 06/07/2018 - 04:59
By Serene Cheong (Bloomberg) — The U.S. is set to get a bit more possessive about its own oil, sparking a bidding war with eager buyers in the other side of the world. Asian refiners from China to Taiwan and Thailand have boosted purchases of American crude in recent months because it was increasingly turning […]
Categories: Maritime News

Venezuela Faces Hurdles Clearing 24 Million Barrel Backlog at Ports

News from gCaptain - Wed, 06/06/2018 - 15:19
By Marianna Parraga June 6 (Reuters) – Venezuela is nearly a month behind in shipping crude to customers from its main oil export port, according to Reuters data, as chronic delays are compounding production declines and could breach state-run PDVSA’s crude supply contracts if they are not quickly cleared. The oil company in recent days has […]
Categories: Maritime News
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