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Bouchard Barge No. 255 Hearing Day 2: ‘He Slipped Out of His Life Jacket and Sank to the Bottom’

News from gCaptain - Thu, 07/19/2018 - 14:29
Editor’s Note: This article is part of a series focussing on the U.S. Coast Guard’s public hearing on the explosion and fire aboard the Bouchard No. 255 tank barge that claimed the lives of two people off the coast of Port Aransas, Texas on October 20, 2017. A live stream of the hearing can be found […]
Categories: Maritime News

Russia Ships First Yamal LNG Cargoes to China Via Northern Sea Route

News from gCaptain - Thu, 07/19/2018 - 14:16
Russian oil and gas company PAO Novatek has shipped its first cargoes of liquified natural gas from the Yamal LNG project to China via the Northern Sea Route. The cargoes recently arrived at the Chinese port of Jiangsu Rudong on board the icebreaking LNG carriers Vladimir Rusanov and Eduard Toll. A ceremony to mark the […]
Categories: Maritime News

Lindblad Orders Second Newbuild Polar Expedition Ship

News from gCaptain - Thu, 07/19/2018 - 12:13
The Board of Directors Lindblad Expeditions has authorized a plan to order a second newbuild polar expedition cruise ship as part of the company’s long-term growth strategy within the expedition cruise market. Lindblad Expeditions is an expedition cruise tourism company that operates cruises in partnership with National Geographic. The new ship has delivery planned for […]
Categories: Maritime News

Keppel Offshore and Marine Division Reports Second Quarter Loss

News from gCaptain - Thu, 07/19/2018 - 11:35
SINGAPORE, July 19 (Reuters) – Singapore’s Keppel Corp posted a 44 percent rise in its second-quarter profit, citing stronger earnings from its property and infrastructure divisions that offset losses in its other segments, including offshore and marine. Keppel, whose businesses range from rig-building to property development, posted a net profit of S$246 million ($179 million)for […]
Categories: Maritime News

Company Claims to Find Russian ‘Treasure Ship’ Amid Skepticism

News from gCaptain - Thu, 07/19/2018 - 11:05
By Josh Smith SEOUL, July 19 (Reuters) – A company claiming to have found the wreck of a Russian warship with $130 billion in gold “treasure” off the coast of South Korea has drawn skepticism from researchers and regulators in Seoul. Shinil Group, which lists a Singapore address on its website, said on Tuesday it […]
Categories: Maritime News

Bouchard Barge No. 255 Hearing: ‘I Was Hearing Blasts Every Second’

News from gCaptain - Thu, 07/19/2018 - 10:13
Editor’s Note: This is the first in a series of articles covering the U.S. Coast Guard’s public hearing on the explosion and fire aboard the Bouchard No. 255 tank barge that claimed the lives of two people off the coast of Port Aransas, Texas on October 20, 2017. A live stream of the hearing can be […]
Categories: Maritime News

Korean Court Holds Government Accountable for 2014 Sewol Ferry Sinking

News from gCaptain - Thu, 07/19/2018 - 09:55
By Hyonhee Shin SEOUL, July 19 (Reuters) – A South Korean court on Thursday acknowledged for the first time the government’s liability for the 2014 sinking of the Sewol ferry, which killed 304 people, mainly school children, and ordered it to compensate victims’ families. A botched rescue and the toll of children in one of […]
Categories: Maritime News

Maersk Line, MSC and ZIM Enter Strategic Cooperation on the Asia – U.S. East Coast Trade

News from gCaptain - Thu, 07/19/2018 - 09:20
Israeli container shipping company ZIM has reached a deal with 2M alliance members Maersk Line and Mediterranean Shipping Company on a new strategic cooperation on the Asia – US East Coast trade. Starting in early September 2018, the companies will operate five loops between Asia and the U.S. East Coast. ZIM will operate one loop […]
Categories: Maritime News

Death of Dirty Fuel Oil May Be Exaggerated as Ships Fit Scrubbers

News from gCaptain - Thu, 07/19/2018 - 09:05
By Alex Longley and Irene García Pérez (Bloomberg) — One of the world’s most polluting fuels may have some life left in it yet. Demand for high sulfur fuel oil is expected to crater in 2020 when the International Maritime Organization introduces a cap on sulfur. But companies that build exhaust cleaning systems for ships, […]
Categories: Maritime News

Norway Rig Owners Consider Lockout to Try to Break Strike

News from gCaptain - Thu, 07/19/2018 - 08:15
By Lefteris Karagiannopoulos OSLO, July 19 (Reuters) – Owners of Norwegian oil rigs are considering imposing a lockout on workers as a high-stakes gamble to try to end a strike by almost 1,600 staff that began last week. A lockout would involve preventing staff from accessing installations until a deal is struck. It could prompt […]
Categories: Maritime News

Shipping Losses Continue to Fall But Old and New Threats Remain -Report

News from gCaptain - Wed, 07/18/2018 - 16:41
Large shipping losses have declined by more than a third over the past decade, but new cyber and climate risks, along with human error, threaten safety progress, according to global insurance firm Allianz Global Corporate & Specialty. Recent events such as the collision of the oil tanker “Sanchi” and the impact of the NotPetya cyber attack […]
Categories: Maritime News

ReCAAP: Piracy Incident Reported in First Half of 2018 at Lowest Level in 10 Years

News from gCaptain - Wed, 07/18/2018 - 13:39
The number of maritime piracy incidents reported to the ReCAAP Information Sharing Centre in the first half of 2018 fell to its lowest number in the past 10 years, the agency reported Tuesday. From January to June 2018, ReCAAP had a total of 40 incidents reported, of which 29 were actual incidents while 11 were […]
Categories: Maritime News

Trade War Sparks More Capacity Cuts on Transpacific Container Trades

News from gCaptain - Wed, 07/18/2018 - 11:58
By Gavin van Marle (The Loadstar) – Container shipping lines on the transpacific trade this week continued to announce capacity cuts in response to the US-China trade war. Following last week’s news that both the 2M and The Alliance groupings would suspend a service each this summer, the latter announced this week it would also […]
Categories: Maritime News

Dutch Cargo Ship Aground in the Pentland Firth Off Scotland

News from gCaptain - Wed, 07/18/2018 - 11:07
An 89-meter cargo ship with six people on board ran aground in the Pentland Firth off Scotland on Wednesday as subsequent attempts to refloat the vessel proving unsuccessful. The HM Coastguard says it received a report just after 3:30 a.m. of a vessel that had run aground on the Pentland Skerries approximately 5 nautical miles […]
Categories: Maritime News

Tariffs Are Poised to Wreck Christmas for Container Shipping Companies

News from gCaptain - Wed, 07/18/2018 - 09:47
By Kyunghee Park (Bloomberg) — Christmas is looking a little less bright for container-shipping companies. As the industry enters what’s typically its busiest quarter before the year-end holidays, an escalating trade row between China and the U.S. may lead to higher prices for China-made goods from Christmas lights to cooking stoves. With about 90 percent of global […]
Categories: Maritime News

Opinion: 2020 Sulfur Cap May Augur an Oil Shock

News from gCaptain - Wed, 07/18/2018 - 09:42
By David Fickling (Bloomberg Opinion) — What’s the most important element in global commodity markets right now? Carbon? Copper? Gold? Wrong on all three counts. Sulfur — the yellow, infernal substance that gives rotten eggs their smell and hardens the rubber in car tires — is quietly roiling the energy industry. The disruptions could reshape everything from […]
Categories: Maritime News

New Report Debunks Jones Act Myths in Puerto Rico

News from gCaptain - Wed, 07/18/2018 - 08:50
Following Hurricane Maria’s landfall in Puerto Rico last September, a number of media reports claimed that the Jones Act had severely damaged the Puerto Rican economy both over time and in the immediate aftermath of the storm. These claims were nothing new. For years even before the storm, the Jones Act, a nearly century-old law […]
Categories: Maritime News

Overseas Shipholding Group Orders Two U.S.-Flag Tankers to Be Built in Korea

News from gCaptain - Tue, 07/17/2018 - 15:49
U.S.-flag tanker company Overseas Shipholding Group, Inc. (NYSE: OSG) has signed shipbuilding contracts with Hyundai Mipo Dockyard in South Korea for the construction of two 50,000 dwt product chemical tankers. The vessels are scheduled for delivery during the seoncd half of 2019 and will be built at HMD’s yard in Ulsan, South Korea. Upon delivery […]
Categories: Maritime News

Fire Hits VLCC Under Demolition at Gadani Shipbreaking Yard

News from gCaptain - Tue, 07/17/2018 - 14:42
A major fire tore through an end-of-life VLCC at the Gadani shipbreaking yard in Pakistan on Monday, marking yet another incident to underscore the dangers of scrapping vessels beaches. According to local media reports, the former German tanker ADA caught fire during its demolition at shipbreaking plot 116 at the yard. Four people were initially […]
Categories: Maritime News

ICS Encouraged by IMO Progress on 2020 Global Sulphur Cap Implementation Issues

News from gCaptain - Tue, 07/17/2018 - 13:41
The International Chamber of Shipping (ICS) says it is encouraged by efforts made by IMO Member States to resolve so of the challenges ahead of the global 0.5% sulphur fuel cap regulations taking effect on 1 January 2020. The ICS’ remarks comes after an important IMO working group meeting last week to which the industry […]
Categories: Maritime News
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