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Maritime News
Updated: 8 hours 3 min ago

Maersk Said to Plan Drilling Spinoff to Focus on Transport

Thu, 08/16/2018 - 14:34
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 announce the business separation as early […]
Categories: Maritime News

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

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

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

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

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

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

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

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’

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

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

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

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

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

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

New Fuel Rules Push Shipowners to Go Green with LNG

Wed, 08/15/2018 - 08:51
By Jonathan Saul and Nina Chestney LONDON, Aug 15 (Reuters) – Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a cleaner alternative and ports such as Gibraltar are preparing to offer upgraded refuelling facilities in the shipping industry’s biggest shake-up in decades. From 2020, International Maritime Organization rules will […]
Categories: Maritime News

Oil Spill Reported After Tugboat Capsizes Near Vancouver, Canada

Tue, 08/14/2018 - 15:40
The Canadian Coast Guard and other agencies are responding to a tugboat which sank overnight on the Fraser River near Vancouver. The Coast Guard reports that the tug, named George H Ledcor, was towing a loaded barge when it capsized at about 11 p.m. on Monday. The overturned tug is located near Deering Island. An […]
Categories: Maritime News

Indian VLCC Suffers Explosion Off Oman

Tue, 08/14/2018 - 12:07
Update: SCI Confirms Two Casualties from VLCC Explosion A VLCC belonging to the Shipping Corporation of India suffered an explosion in a cargo tank on Tuesday off the coast of Oman, the company has confirmed.  The vessel, named Desh Vaibhav, was underway to Fujairah, UAE when the explosion took place at around 0935 hours, the […]
Categories: Maritime News

MSC Containership Loses 13 Containers Overboard Off South Africa

Tue, 08/14/2018 - 11:48
The South African Maritime Safety Authority has issued an urgent warning to vessels east of South Africa to be on the lookout for cargo containers that reportedly fell from a containership off the coast of Durban a week ago. According to SAMSA, a total 13 containers were reportedly lost overboard from the MSC Chloe on […]
Categories: Maritime News

SCF Tanker Loads First LNG Cargo from Yamal LNG’s Second Train

Tue, 08/14/2018 - 11:24
Russian shipping company SCF Group says its ice-class LNG carrier Pskov has loaded the first cargo of LNG from Yamal LNG’s second train in the Russian Arctic. The vessel loaded the cargo on August 9th at the Port of Sabetta, home to the Yamal LNG plant, before sailing westward bound for Europe via the Northern […]
Categories: Maritime News

Clarksons First Half Profit Falls Amid Challenging Trading In Shipping, Offshore Markets

Tue, 08/14/2018 - 10:50
Integrated shipping services firm Clarskson Plc saw its profit drop in the first half of 2018 after a challenging trading environment across the shipping and offshore capital markets. The UK-based firm reported a pre-tax profit of £18 million in H1 2018, down from £21.9 million in H1 2017. Revenue also fell to £152.6 million from […]
Categories: Maritime News