Maritime News from gCaptain.com

Maersk’s Offloading of Drilling Unit is Latest Move to Exit Energy

News from gCaptain - Fri, 08/17/2018 - 11:55
By Christian Wienberg (Bloomberg) — A.P. Moller-Maersk A/S has decided to list its drilling unit separately, marking its latest step toward a complete exit from the energy industry. Copenhagen-based Maersk, which owns the world’s biggest shipping operations and is working on turning itself into a pure transport company, said on Friday that the decision will take effect […]
Categories: Maritime News

U.S. Coast Guard Warns of LED Lighting Interfering with VHF-FM Radio and AIS Reception

News from gCaptain - Fri, 08/17/2018 - 11:08
The U.S. Coast Guard is warning the maritime community regarding the potential interference of VHF-FM radio and AIS reception from LED lighting.  The Coast Guard said it has received reports from crews, ship owners, inspectors and other mariners regarding poor reception on VHF frequencies used for radiotelephone, digital selective calling (DSC) and automatic identification systems […]
Categories: Maritime News

Boskalis Terminates Low-End Transport Activities Amid Heavy Losses

News from gCaptain - Fri, 08/17/2018 - 10:38
Dutch marine services company Boskalis will be terminating its loss-making low-end transport activities. The announcement came this week as Boskalis revealed a lower operating result in the first half of 2018 compared to the same period last year. Boskalis reported a net operating profit of EUR 34.5 million in the first half of 2018, compared […]
Categories: Maritime News

Fuel Markets Confirm Global Growth Slowdown: Kemp

News from gCaptain - Fri, 08/17/2018 - 09:12
By John Kemp LONDON, Aug 16 (Reuters) – If the global economy starts to grow more slowly, the impact will show up first in the price of refined fuels such as road diesel, marine gasoil and jet fuel that play a central role in the freight transport system. Middle distillate fuels are principally burned in the […]
Categories: Maritime News

Where to Look in the Oil Market for Clues of a Demand Slowdown

News from gCaptain - Fri, 08/17/2018 - 09:10
By Ellen Milligan and Alex Longley (Bloomberg) — This is supposed to be a year of bumper oil demand, but economic warning signs are flashing across the developing nations that drive growth. Emerging markets are expected to contribute 1 million barrels a day of additional oil demand this year, about three quarters of total global growth, according […]
Categories: Maritime News

Maersk to Spin Off Drilling Unit, Hand Total Shares to Investors

News from gCaptain - Fri, 08/17/2018 - 08:35
By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, Aug 17 (Reuters) – A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics. Maersk, which cut its full-year profit outlook this month, sold […]
Categories: Maritime News

Maersk Said to Plan Drilling Spinoff to Focus on Transport

News from gCaptain - Thu, 08/16/2018 - 14:34
Update: Maersk Confirms Drilling Unit Spin-Off By Manuel Baigorri, Ruth David and Matthew Miller (Bloomberg) — A.P. Moller-Maersk A/S is planning to spin off its drilling unit instead of pursuing a sale as the Danish conglomerate shifts focus to its transport activities, according to people familiar with the matter. The world’s biggest shipping company may […]
Categories: Maritime News

Trump Pushes China for Better Deal With Trade Talks Set to Resume

News from gCaptain - Thu, 08/16/2018 - 12:16
By Justin Sink and Andrew Mayeda (Bloomberg) — President Donald Trump prodded China to offer more at the bargaining table as the two countries prepared for their first major negotiation in more than two months in an effort to head off an all-out trade war. “We’re talking to China, they very much want to talk,” […]
Categories: Maritime News

All-Electric Ships on the Horizon as Rolls Launches New Battery System

News from gCaptain - Thu, 08/16/2018 - 10:59
By Áine Quinn (Bloomberg) — Rolls-Royce Holdings Plc has begun offering its own battery-powered ship engines in a move that signals the gathering momentum behind a push toward hybrid and ultimately all-electric vessels. While maritime demand for lithium-ion batteries is focused on providing top-up power for traditional diesel and gas-turbine ships, the technology could propel […]
Categories: Maritime News

2018 May Be a Write-Off as Shocking H1 Numbers All But Sink Ocean Carriers

News from gCaptain - Thu, 08/16/2018 - 10:51
By Mike Wackett (The Loadstar) – Just halfway through the Q2 reporting period, some $650m of red ink has been reported by ocean carriers to add to their $1.2bn deficit for the first three months of the year. To date, niche operator Wan Hai is the only container line to post a net profit for […]
Categories: Maritime News

Scientists Discover Stern of World War II U.S. Destroyer Off Remote Alaskan Island

News from gCaptain - Thu, 08/16/2018 - 10:43
For almost 75 years, the stern of the destroyer USS Abner Read lay somewhere below the dark of the Bering Sea off the Aleutian island of Kiska, where it sank after being torn off by an explosion while conducting an anti-submarine patrol. Seventy-one U.S. Navy Sailors were lost in the aftermath of the blast, during […]
Categories: Maritime News

Maersk Supply Service AHTS Selected to Deploy World’s First Large-Scale Ocean Plastic Cleanup System

News from gCaptain - Thu, 08/16/2018 - 09:46
Maersk Supply Service has signed on to support The Ocean Cleanup, the Dutch non-profit that is developing technology to clean the ocean of plastic waste. For their role in the project, Maersk Supply Service will provide its AHTS, Maersk Launcher, to deploy and support the first cleanup system, known as Cleanup System 001, in the […]
Categories: Maritime News

Kenya to Revive National Shipping Line in Partnership With MSC

News from gCaptain - Thu, 08/16/2018 - 08:59
By Helen Nyambura (Bloomberg) — Kenya plans to revive a state-owned shipping line with the help of the Mediterranean Shipping Co., President Uhuru Kenyatta said. The Kenya National Shipping Line, which was established in 1987 and stagnated after years of mismanagement, is “expected to once again become an active participant in international seaborne trade, which […]
Categories: Maritime News

Mega Oil and Gas Projects Are Back

News from gCaptain - Thu, 08/16/2018 - 08:31
By Dan Murtaugh (Bloomberg) — Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100 crude. From liquefied natural gas in Mozambique to deep-oil in Guyana, the world’s biggest energy companies are gearing up to sanction the […]
Categories: Maritime News

Shipbuilding Contract Signed for Unmanned, Zero-Emission Container Ship ‘Yara Birkeland’

News from gCaptain - Wed, 08/15/2018 - 13:27
The world’s first autonomous and electric container ship is one step closer to reality with a shipbuilding contract now in signed and sealed for the vessel. Norwegian technology firm Kongsberg, who is partnering with Yara on the project, announced today that Yara has signed a deal worth NOK 250 million ($25.9 million) with VARD to […]
Categories: Maritime News

BP Offloads Last 2 Stranded Oil Cargoes to Shandong Refiner – Sources

News from gCaptain - Wed, 08/15/2018 - 13:24
BEIJING, Aug 15 (Reuters) – Oil major BP on Tuesday offloaded about 1 million barrels of Angolan crude from supertanker ‘Olympic Light’ to an independent Chinese refiner after holding the oil at sea for about three months, people with knowledge of the discharge said on Wednesday. The oil had been aboard one of four supertankers […]
Categories: Maritime News

WATCH: Meet the Shannon, RNLI’s New Class of Waterjet-Propelled, Self-Righting, All-Weather Lifeboats

News from gCaptain - Wed, 08/15/2018 - 11:09
When the UK’s Royal National Lifeboat Institution was given the chance to design their dream lifeboat, they came up with the Shannon: a waterjet-propelled, highly-maneuverable, stop-on-a-dime, beach-launched and recovered, self-righting, shock-absorbing, 13-meter all-weather lifeboat capable of reaching speeds up to 25 knots. The Shannon is actually the first class of all-weather lifeboats to be powered […]
Categories: Maritime News

IMO’s 2020 Fuel Rule to Hit Truckers Where It Hurts: The Diesel

News from gCaptain - Wed, 08/15/2018 - 10:19
By Erin Douglas (Bloomberg) — Every time Chuck Paar makes the over 500-mile round trip from his home in Mt. Jewett, Pennsylvania, to Buffalo and Syracuse, New York, his 18-wheel tractor trailer carries 25 tons of sand or cement and burns about $265 of diesel in one day. That’s up from as little as $166 […]
Categories: Maritime News

Shipping Company Confirms Two Casualties from VLCC Explosion Off Oman

News from gCaptain - Wed, 08/15/2018 - 10:02
The Shipping Corporation of India has confirmed two casualties as the result of an explosion on one their VLCCs off the coast of Oman on Tuesday. In an update issued Wednesday, the company reported that the situation on board the MT Desh Vaibhav is “totally under control” and the vessel continues to be under full […]
Categories: Maritime News

Trade Spat Threatens U.S. LNG Exporters

News from gCaptain - Wed, 08/15/2018 - 09:07
By Rachel Adams-Heard and Ryan Collins (Bloomberg) — This winter could be a bleak one for America’s natural gas exporters as the fastest-growing buyer of the fuel threatens to halt purchases amid an escalating trade war. PetroChina, a unit of the state-owned China National Petroleum Corp., may suspend its buying of U.S. liquefied natural gas cargoes during […]
Categories: Maritime News
Syndicate content