Maritime News from gCaptain.com

Pilotage: Local Places and Tight Spaces

News from gCaptain - Mon, 05/22/2017 - 21:57

By Capt. George H Livingstone, One could make the argument that international marine transportation is the singular thread running throughout the world.  It is wonderfully complicated, layered and diverse; a fascinating business.  Ships have been sailing the ocean trades for thousands of years along with the people who manned them.  A Mesolithic (10,000-5,000 BC) boatyard […]

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Categories: Maritime News

APL Turnaround Boosts CMA CGM Q1 Profits

News from gCaptain - Mon, 05/22/2017 - 19:47

  By Gavin van Marle (TheLoadStar) A dramatic turnaround in the fortunes of recently acquired APL helped French carrier CMA CGM offset a slight decline in revenue and volumes in the first quarter of this year. CMA CGM said APL, acquired from the Singaporean government in a $2.4bn deal last year, had managed to post a quarterly […]

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Categories: Maritime News

First NYC Ferry Takes to Water in Big Apple

News from gCaptain - Mon, 05/22/2017 - 18:25

The first new ferry in NYC Ferry’s fleet has been christened Lunch Box and has commenced service connecting Manhattan, Brooklyn, Queens and the Bronx along the East River.  Lunch Box, designed by Australia-headquartered Incat Crowther, is the first vessel in a fleet of 26 meter catamaran ferries commissioned by Hornblower Cruises to form NYC Ferries, […]

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Categories: Maritime News

From Deep in Atlantic, Titanic Relics Sail Toward Auction

News from gCaptain - Mon, 05/22/2017 - 15:08

By Eliza Ronalds-Hannon (Bloomberg) — The Titanic may be under 2.5 miles of water, but wreckage from the doomed ship could fetch close to $220 million at an auction this year. Premier Exhibitions Inc. proposed the sale in a May 18 filing in U.S. Bankruptcy Court in Jacksonville, Florida. The Atlanta-based company and its RMS […]

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Categories: Maritime News

China Love for U.S. Gas Begins as Trump Rolls Out Red Carpet

News from gCaptain - Mon, 05/22/2017 - 11:32

By Bloomberg News (Bloomberg) — Let the gushing begin. After an executive from U.S. liquefied natural gas exporter Cheniere Energy Inc. spoke to a few hundred people at a conference in Beijing last week, the first question from the audience turned out to be an invitation to visit one of China’s biggest energy firms and […]

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Categories: Maritime News

BP Starts North Sea Oil Project That Will Help Double Its U.K. Output

News from gCaptain - Mon, 05/22/2017 - 11:29

By Rakteem Katakey (Bloomberg) — BP Plc started a project in the U.K. North Sea that will restore production halted since 2013 and help double the company’s output in the area by the end of the decade. BP and its partners budgeted 4.4 billion pounds ($5.7 billion) for the Quad 204 project, which involved building […]

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Categories: Maritime News

Five Killed in Fire Aboard Indonesian Ferry

News from gCaptain - Mon, 05/22/2017 - 10:49

At least five were killed after a fire broke out aboard a car and passenger in the Java Sea on Friday, Indonesian authorities confirmed over the weekend. The fire reportedly started in the vehicle deck of the Indonesian ferry Mutiara Sentosa 1 and quickly spread to other parts of the vessel, prompting the captain to give […]

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Categories: Maritime News

Dry Bulk Shipowner Jinhui Shipping Sees Bumpy Road to Recovery

News from gCaptain - Mon, 05/22/2017 - 09:47

OSLO, May 22 (Reuters) – ** Oslo-listed dry bulker Jinhui Shipping sees a bumpy road ahead despite signs of a recovery in the dry bulk market ** The road to recovery will be challenging and the market will remain volatile, vice president Raymond Ching told the Q1 conference call on Monday ** “To be honest […]

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Categories: Maritime News

The Data Dilemma: Big Differences in Saudi Crude Export Numbers

News from gCaptain - Mon, 05/22/2017 - 09:35

By Clyde Russell LAUNCESTON, Australia, May 22 (Reuters) – One of the difficulties in constructing a narrative for the crude oil market and the output cuts promised by major exporters is what set of numbers to believe. It’s possible to argue that Saudi Arabia, OPEC’s biggest exporter and the force behind the cuts, is either […]

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Categories: Maritime News

U.S. Celebrates National Maritime Day

News from gCaptain - Mon, 05/22/2017 - 07:50

Each year on May 22nd, the United States celebrates National Maritime Day, a holiday in observance of the contributions of the men and women of the U.S. merchant marine, as well as the U.S. maritime industry and the benefits it brings to the country in terms of transportation, jobs, goods, recreation and national security. The […]

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Categories: Maritime News

Maritime Monday for May 22nd, 2017: Suffren Succotash

News from gCaptain - Sun, 05/21/2017 - 18:26

At the start of World War II, it was decided that Queen Elizabeth was so vital to the war effort that she must not have her movements tracked by German spies. Therefore, an elaborate ruse was fabricated involving her sailing to Southampton to complete her fitting out. There were only two spring tides that year […]

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Categories: Maritime News

Propulsion Problems Put Australia’s Largest Warships Out of Service

News from gCaptain - Sat, 05/20/2017 - 19:34

By Harry Pearl SYDNEY, May 20 (Reuters) – Australia is investigating if problems in the propulsion systems of two $1.5 billion warships built by manufacturers from Spain, Germany and Britain are the result of design flaws. Naval engineers are trying to figure out exactly what is causing the problems onboard the HMAS Adelaide and HMAS […]

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Categories: Maritime News

Wilhelmsen Ships Service Launches Drone Delivery Pilot Project

News from gCaptain - Fri, 05/19/2017 - 14:53

Wilhelmsen Ships Service has announced plans to launch a large scale pilot program exploring use of drones to deliver vital supplies to ships in harbors and ports around the world.  WSS described the project as a potentially seismic shift in the way ships agents can support their customers by eliminating the need for launch boats to deliver […]

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Categories: Maritime News

Brexit: No Deal Means No Trade for the UK, Economists Say

News from gCaptain - Fri, 05/19/2017 - 11:25

By Alexander Whiteman (The Loadstar) – Economists have warned that trade is likely to come to a halt if the UK fails to negotiate a deal in leaving the European Union. Contrary to claims from Theresa May on her campaign trail that “no deal is better than a bad deal”, the chief economist and director of […]

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Categories: Maritime News

U.S. to Offer Over 1 Million Acres Offshore Alaska in Upcoming Oil and Gas Lease Sale

News from gCaptain - Fri, 05/19/2017 - 10:46

The U.S. Bureau of Ocean Energy Management (BOEM) on Friday announced it will offer approximately 1.09 million acres off Alaska’s southcentral coast for oil and gas development in a lease sale scheduled for June. Cook Inlet Oil & Gas Lease Sale 244 will offer 224 blocks toward the northern part of the federal Cook Inlet […]

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Categories: Maritime News

Second Bulker Detained Over Western Sahara Legal Challenge

News from gCaptain - Fri, 05/19/2017 - 10:08

By Patrick Markey ALGIERS, May 18 (Reuters) – Panama authorities have detained a Moroccan phosphate shipment from the disputed territory of Western Sahara after the Polisario independence movement claimed the cargo had been transported illegally, Polisario and officials said on Thursday. The detention of the vessel carrying phosphate rock cargo from Morocco’s OCP for Canada’s […]

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Categories: Maritime News

Fincantieri Signs Deal to Acquire Majority Stake in STX France

News from gCaptain - Fri, 05/19/2017 - 10:06

Italian shipbuilding group Fincantieri on Friday signed an agreement to acquire a majority stake in STX France, operator of the 150-year-old shipyard in Saint-Nazaire, France, as the Italian shipbuilder looks to expand its already-sizeable footprint in the large cruise ship market.  Fincantieri said Friday it will pay euro 79.5 million for 66.66% of the share […]

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Categories: Maritime News

Full Tanks and Tankers: A Stubborn Oil Glut Despite OPEC Cuts

News from gCaptain - Fri, 05/19/2017 - 09:13

By Catherine Ngai NEW YORK/LONDON/SINGAPORE May 19 (Reuters) – After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut – […]

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Categories: Maritime News

Escalating Dockworkers’ Conflict Now Threatens Swedish Economy

News from gCaptain - Fri, 05/19/2017 - 08:46

By Niclas Rolander and Hanna Hoikkala (Bloomberg) — As a drawn-out labor conflict at the Nordic region’s largest port escalates, some of Sweden’s largest exporters are warning they may be forced to find alternative harbors abroad to safeguard shipments. Container capacity at A.P. Moller-Maersk A/S’ APM Terminals facility in Gothenburg has in the past six […]

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Categories: Maritime News
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