Maritime News from gCaptain.com

FellowSHIP Project Concludes 15 years of Maritime Battery and Fuel Cell Research

News from gCaptain - Mon, 08/06/2018 - 11:27
After 15 years of extensive research, project partners Eidesvik Offshore, Wärtsilä Norway and DNV GL have recently announced the closure of the FellowSHIP project. It aimed to explore the use of battery, hybrid and fuel cell technology in the maritime industry. “FellowSHIP has been a productive project,” says Bjørn-Johan Vartdal, Maritime Programme Director for Technology […]
Categories: Maritime News

COSCO Upbeat on OOCL Despite $73 Million Loss in First Half

News from gCaptain - Mon, 08/06/2018 - 11:13
By Mike Wackett (The Loadstar) – Orient Overseas International (OOIL) suffered a loss of $73m in its OOCL container business in the first six months of the year, following a profit of $24.5m in the same period of 2017. H1 turnover was $3.1bn, versus $2.8bn the year before, earned from liftings which had increased by 6% […]
Categories: Maritime News

China’s Gas Tariffs Are a Permian-Size Problem: Opinion

News from gCaptain - Mon, 08/06/2018 - 10:51
By Liam Denning (Bloomberg Opinion) — Energy dominance sure does seem to come with a hefty dose of self-flagellation. The latest bit of America’s energy sector to feel the over-the-shoulder lash is the liquefied natural gas-export business. On Friday, LNG joined the list of goods that China will hit with tariffs in retaliation for U.S. ones. This […]
Categories: Maritime News

Ship Insurer UK P&I Club Opts for Rotterdam as Hub Due to Brexit

News from gCaptain - Mon, 08/06/2018 - 09:30
By Jonathan Saul LONDON, Aug 6 (Reuters) – British ship insurer UK P&I Club is in the process of setting up a subsidiary in the Dutch port city of Rotterdam to ensure continued access to trade in the European Union in case Britain loses single market access, its chief executive said. Britain dominates the global marine […]
Categories: Maritime News

For These Billionaires, It’s All About Cruise Fleets

News from gCaptain - Mon, 08/06/2018 - 08:41
By Fran Golden (Bloomberg) — It was a cold and cloudy July day in Reykjavik, and French arts patron Maryvonne Pinault was at a pier fulfilling her godmother duties for Le Laperouse, the first of six 184-passenger, upscale expedition yachts from her husband’s Marseilles-based cruise line Compagnie du Ponant. French billionaire and Kering SA chairman Francois Pinault […]
Categories: Maritime News

Drunken Master Suspected in Another Ship Grounding Off Sweden

News from gCaptain - Sun, 08/05/2018 - 10:14
A cargo ship which ran aground Friday night off Helsingborg, Sweden has been refloated with no pollution reported, the Swedish Coast Guard said Sunday. The vessel, loaded with 5,000 tonnes of wheat, was headed for the port of Helsingborg when it grounded at 11:15 p.m. local time on Friday night, the Coast Guard reported. Prior […]
Categories: Maritime News

Saudi Arabia Resumes Oil Exports Through Red Sea Shipping Lane

News from gCaptain - Sat, 08/04/2018 - 15:29
DUBAI, Aug 4 (Reuters) – Top oil exporter Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb. Saudi Arabia halted temporarily oil shipments through the lane on July 25 after attacks on two oil tankers by Yemen’s Iran-aligned Houthi movement. A statement by […]
Categories: Maritime News

China’s Biggest Refiner Sinopec Delays U.S. Oil Buys Amid Tit-for-Tat Tariffs

News from gCaptain - Fri, 08/03/2018 - 13:53
By Sheela Tobben and Rachel Adams-Heard (Bloomberg) — Rising trade tensions between China and the U.S. may soon affect global oil flows. China’s largest refiner, Sinopec, will delay making any purchases of U.S. oil for September amid concern that the Asian giant will slap tariffs on American crude, making imports more expensive, according to a person familiar […]
Categories: Maritime News

Twenty-Five Nations Conclude RIMPAC, the World’s Largest International Maritime Exercise

News from gCaptain - Fri, 08/03/2018 - 11:43
The world’s largest international maritime exercise concluded this week following more than a month of training events conducted in and around the Hawaiian Islands and Southern California. The biennial exercise, known as Rim of the Pacific, or RIMPAC for short, involved twenty-five nations and included 46 surface ships, five submarines, 17 land forces, and more […]
Categories: Maritime News

Chinese Tariffs on LNG, Oil May Hit U.S. Bid for Energy Dominance

News from gCaptain - Fri, 08/03/2018 - 11:05
By Scott DiSavino and Chen Aizhu NEW YORK/BEIJING, Aug 3 (Reuters) – China’s proposed tariffs on U.S. liquefied natural gas and crude oil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing U.S. energy export prowess. China included LNG for the […]
Categories: Maritime News

Scrapping May Make Comeback as Smaller Containerships Lose Their Appeal

News from gCaptain - Fri, 08/03/2018 - 10:51
By Mike Wackett (The Loadstar) – Non-operating owners of ageing gas-guzzling small containerships are likely to renew their interest in scrapping as the charter market makes an unexpected U-turn. The latest idle tonnage report by Alphaliner records 131 ships of 500-5,100 teu in hot or cold lay-up seeking employment, compared with just 56 in February. […]
Categories: Maritime News

Bank of England’s Carney Sees “Uncomfortably High” Risk of No-Deal Brexit

News from gCaptain - Fri, 08/03/2018 - 09:44
By Andy Bruce LONDON, Aug 3 (Reuters) – Bank of England Governor Mark Carney said on Friday Britain faces an “uncomfortably high” risk of leaving the European Union with no deal, comments that drove sterling to an 11-day low against the dollar. With less than eight months until Britain quits the EU, the government has […]
Categories: Maritime News

Billions at Risk as China Proposes 25% Tariffs on U.S. LNG Exports

News from gCaptain - Fri, 08/03/2018 - 08:04
By Naureen S. Malik (Bloomberg) — China is threatening to impose a 25 percent tariff on imports of U.S. liquefied natural gas, potentially a major blow to an emerging American business. It’s the first time the fuel has been ensnared by the trade war, coming as part of a $60 billion response to a Trump […]
Categories: Maritime News

Despite Early Activity, Atlantic Hurricane Season May End in a Fizzle

News from gCaptain - Thu, 08/02/2018 - 14:05
By Brian K. Sullivan (Bloomberg) — The Atlantic hurricane season may have gotten off to an early start this year, but it’ll probably end with a whimper — at least when it comes to the total number of storms. Twelve named storms are likely to form in 2018, fewer than last year’s 17 and below […]
Categories: Maritime News

London Court Rules DP World Djibouti Contract is ‘Valid and Binding’

News from gCaptain - Thu, 08/02/2018 - 13:38
DUBAI, Aug 2 (Reuters) – Dubai’s government said on Thursday the London Court of International Arbitration (LCIA) has ruled DP World’s port container terminal contract in Djibouti was valid and binding. The government of Djibouti seized the Doraleh Container Terminal from DP World in February over a dispute dating back to at least 2012. Dubai […]
Categories: Maritime News

Can the World’s Ports and Terminals Take the Strain as Container Throughput Rises?

News from gCaptain - Thu, 08/02/2018 - 13:26
By Gavin van Marle (The Loadstar) – “Cautious investor sentiment towards greenfield container terminal projects” could lead to steeply increasing box terminal utilisation and a possible decline in port productivity. According to Drewry’s latest five-year container port demand forecast, volumes are set to increase on average by just under 6% a year. This would add 240m […]
Categories: Maritime News

U.S. Was Right to Give China’s Navy the Boot: James Stavridis

News from gCaptain - Thu, 08/02/2018 - 12:10
By James Stavridis (Bloomberg Opinion) — The vast annual military operation known as the Rim of the Pacific Exercise (simply RIMPAC in Pentagon jargon) just concluded on the beaches of Southern California with a huge demonstration of an amphibious assault, which involves sending troops ashore from warships at sea — a highly complex maneuver whether […]
Categories: Maritime News

BP Offloads Oil Cargo in Shandong After Two-Month Delay at Sea

News from gCaptain - Thu, 08/02/2018 - 11:20
BEIJING, Aug 2 (Reuters) – Oil major BP has started discharging about 1 million barrels of Angolan crude to a Chinese independent refiner, after holding the oil on water for two months due to slowing demand from private refiners, sources said on Thursday. The Mercury Hope supertanker, chartered by BP and carrying about 2 million […]
Categories: Maritime News

Damaged Car Carrier Makassar Highway Reaches Port in Sweden

News from gCaptain - Thu, 08/02/2018 - 11:15
The damaged car carrier Makassar Highway was been moored in Oskarshamn on Thursday after salvors completed its emergency tow from open waters of the Baltic Sea. The 139-meter car carrier ran aground last Monday, July 23, off Loftahammar, Sweden, causing extensive damage to the hull plates and water ingress. Before salvors could address oil contained […]
Categories: Maritime News

Stalled FSRU Ready for Start-Up Off Bangladesh

News from gCaptain - Thu, 08/02/2018 - 10:44
By Ruma Paul DHAKA, Aug 2 (Reuters) – A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations “within a week” after bad weather hampered its start-up, an official said on Thursday. The floating storage and regasification unit […]
Categories: Maritime News
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