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Maritime News
Updated: 1 day 20 hours ago

Bourbon Offshore: Market Conditions Still Challenging

Fri, 09/07/2018 - 12:00
French offshore services company Bourbon Offshore reported adjusted revenue of 340.1 million euros in the first half of the year, down 15.2% compared to the second half of 2017, citing the continued challenging market environment. Revenues were mainly impacted by declining rates and subsea activity, which reached a low point during the first half, Bourbon […]
Categories: Maritime News

CMA CGM Sees Better H2 Margin After Oil Hit in H1

Fri, 09/07/2018 - 10:56
PARIS, Sept 7 (Reuters) – CMA CGM, one of the world’s largest container shipping lines, said on Friday it expects its operating margin to improve in the second half of the year after higher oil prices squeezed profits in the first half. “We are confident for the second half of the year. We anticipate an […]
Categories: Maritime News

China Ranks as Top Maritime Nation in the World, Report Says

Fri, 09/07/2018 - 10:43
The study benchmarks the 30 leading maritime nations around the world in four key maritime pillars: shipping, finance and law, maritime technology and ports & logistics, in an attempt to understand the key drivers behind national maritime success.
Categories: Maritime News

‘Ground-breaking’ Offshore Wind Project Inaugurated in Scotland

Fri, 09/07/2018 - 09:40
The European Offshore Wind Deployment Centre (EOWDC) was inaugurated today in north-east Scotland, consisting of eleven of the most powerful offshore wind turbines in the world.  The project has been led by Swedish energy firm Vattenfall. The company’s CEO, Magnus Hall, says the pioneering wind farm will “turbocharge” the growth of low-cost sector. The 93.2MW […]
Categories: Maritime News

Eight Vessels Stalled at Sabine Pass Due to Draft Restrictions After Ship Hits Dredging Pipeline

Fri, 09/07/2018 - 08:52
By Liz Hampton and Scott DiSavino HOUSTON/NEW YORK, Sept 7 (Reuters) – Eight vessels were stalled on Friday at the Sabine Pass Channel on the Texas-Louisiana border after draft restrictions were put in place this week to allow search operations for a displaced pipeline, the U.S. Coast Guard said. Prolonged restrictions could force Cheniere Energy […]
Categories: Maritime News

DNV GL, DSIC Agree to Develop LNG-Fuelled, 23,000 TUE Ultra Large Containership

Thu, 09/06/2018 - 11:37
Classification society DNV GL and Dalian Shipbuilding Industry Company (DSIC), China’s largest shipbuilder, have signed an agreement to develop a 23,000 TEU, LNG-fueled containership. The joint development project (JDP), which was signed this week at the SMM trade show in Hamburg, Germany, seeks to deliver a ultra large container vessel (ULCV) design that is ready […]
Categories: Maritime News

Carriers Hit by Asia-Europe Cargo Slump as Hopes of a ‘Bumper Year’ Sink

Thu, 09/06/2018 - 11:21
By Mike Wackett (The Loadstar) – North European trade growth for the year has been revised from 3.4% to 2.2%, according to August’s Global Port Tracker, supporting moves by carriers to suspend services. The monthly analysis collates data from six major North European hub ports. “The industry has finally awakened to the fact that things […]
Categories: Maritime News

Airlines Stepping Up Oil Hedges Before 2020 Shipping Rule Bites

Thu, 09/06/2018 - 11:16
By Alex Longley (Bloomberg) — Airlines are starting to hedge against the risk that fuel prices could be driven higher by rules targeting another industry’s environmental performance. Brent crude for 2020 rallied in the third quarter, a period in which spot prices fell, as some carriers began seeking protection against higher fuel costs caused by […]
Categories: Maritime News

Interview: Hans Hederström, Managing Director of Carnival Corp.’s State-of-the-Art Maritime Simulation Training Center

Thu, 09/06/2018 - 10:41
Interview by Paul González-Morgan (Marine Strategy) – Hans Hederström is the Managing Director of CSMART Academy, Center for Simulator Maritime Training, the state-of-the-art international maritime training center of the world’s largest cruise company, Carnival Corporation & plc Group. Opened in July 2009 and located in Almere, Netherlands, CSMART Academy established itself as a world-class training center […]
Categories: Maritime News

China Protests U.K. Sail-By of Disputed South Sea Island Chain

Thu, 09/06/2018 - 09:15
By David Tweed (Bloomberg) — China accused the U.K. of infringing on its sovereignty after a Royal Navy warship sailed close to islands it claims in the disputed South China Sea. The U.K. “violated international and Chinese laws” when the amphibious warship HMS Albion passed by the Chinese-occupied Paracel Islands in recent days, Foreign Ministry […]
Categories: Maritime News

Freeport LNG Signs 20-Year, 2.2 MTPA LNG Supply Deal with Japan’s Sumitomo

Thu, 09/06/2018 - 09:09
U.S.-based liquefied natural gas terminal operator Freeport LNG said it had signed a binding agreement with a U.S. unit of Sumitomo Corp to supply the Japanese company with 2.2 million tonnes of LNG per year for 20 years under a tolling structure (LTA). Freeport LNG owns and operates an LNG terminal on Quintana Island, near […]
Categories: Maritime News

CMA CGM Sees Brisk China-U.S. Trade for Now

Thu, 09/06/2018 - 08:44
By Gus Trompiz LE HAVRE, France, Sept 6 (Reuters) – CMA CGM, one of the world’s largest container shipping lines, is benefiting from strong trade flows between China and the United States for now, the French group’s chief executive said. Despite tit-for-tat tariffs imposed by Washington and Beijing, the traditional third-quarter ‘peak season’ of Chinese exports […]
Categories: Maritime News

World’s Largest Offshore Wind Farm Opens in Irish Sea… And It’s HUGE

Thu, 09/06/2018 - 08:08
The 659MW Walney Extension offshore wind farm has 87 wind turbines capable of generating enough green energy to power almost 600,000 UK homes. By Jeremy Hodges (Bloomberg) — Orsted A/S unveiled the world’s largest offshore wind farm, an 87-turbine complex in the Irish Sea covering an area more than double the size of Manhattan. The […]
Categories: Maritime News

Four Injured After Coast Guard Boats Collide in Buzzards Bay

Wed, 09/05/2018 - 16:56
Two U.S. Coast Guard boat crews collided Wednesday during a training exercises in Buzzards Bay off Falmouth, Massachusetts, injuring four crew members. The 29-foot tactical boat crews were involved in maneuvers and training when they collide at approximately 1:30 p.m., the Coast Guard reported. Both boats returned to Station Woods Hole under their own power […]
Categories: Maritime News