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Leading global coatings manufacturer Hempel is launching Globic 7000, a new antifouling coating with enhanced operational flexibility for all vessel types and a speed loss* of 4.5 per cent, on average (according to ISO 19030). This contributes to significant fuel cost savings, and a reduction in associated emissions, for owners and operators. Specifically designed to deliver effective protection for up to 60 months, Globic 7000 incorporates an optimum biocide mix to guard against both hard and soft fouling. With an improved performance against slime and algae, Globic 7000 is suitable ...

Designed to optimize vessel responsiveness, efficiency and safety across the entire operating profile, ABB Ability™ Marine Pilot Control allows deploying joystick control for maneuvering at all times, including around the berth. Featuring model predictive control, ABB Ability™ Marine Pilot Control’s superior maneuvering capability is built around predicting where the vessel will be in 5-30 seconds instead of measuring its position on arrival. Software calculates the optimum way of executing decisions across the operational profile, depending on how the operator has prioritized speed, maneuverability or other parameters. Integrating DP2 functionality to ...

Leading Classification Society ClassNK has released its Guidelines for Software Security which target software developers, system integrators, and more. As part of the ClassNK Cyber Security Series, ClassNK regularly releases guidelines and standards that outline cyber security measures based on the recently-released ClassNK Cyber Security Approach that outlines ClassNK’s basic approach to ensuring onboard cyber security for ships. Released as the 3rd and latest part of the series, the Guidelines for Software Security aim to assist with risk management focused on software used onboard vessels. They outline the recommended security ...

BIO-UV Group, the pioneer in UV-based water treatment technologies, and Norwegian marine engineering and technical services provider TECO Tech have signed a cooperation agreement aimed at providing shipowners with a complete turnkey solution for the BIO-SEA advanced ballast water treatment system. The agreement was signed by Xavier Deval, BIO-SEA Business Director, and Tore Enger, CEO of TECO Tech AS at the Nor-Shipping trade show, in Oslo, Norway. “With a history serving the maritime and offshore industries dating back more than 25-years, TECO is a perfect partner for BIO-UV Group,” said ...

Why is the conflict between labor and management at Hyundai Heavy Industries (HHI) so great over the split-up plan? Under the plan, Korea’s largest shipbuilder will be divided into Korea Shipbuilding & Offshore Engineering, a sub-holding company merging parts of HHI with Daewoo Shipbuilding & Marine Engineering (DSME), which will carry out shipbuilding and offshore businesses, and a reorganized HHI. The management says it is aimed at acquiring DSME, but the labor union is concerned about the possible “restructuring” and some say, “Isn’t it part of the chaebol succession process?’ ...

BPA Chairman addresses MPs, Peers and industry representatives: – Brexit: A quick and satisfactory resolution to Brexit needed followed by a return to stability – Business Environment: Relentless focus on ensuring that the business environment is one where businesses can invest and grow, with access to the skills they need – Climate Change & scrubbers: Ports and shipping very much part of the solution to UK decarbonisation challenges; concerns growing around use of open-loop scrubbers in ports The Chairman of the British Ports Association has called for a return to ...

Eurogate Container Terminal Limassol Ltd has completed the first phase of investments at the Limassol Container Terminal, worth more than €30m. In the context of the company’s investment plan, two new “super post panamax” cranes (already in operation) as well as 17 new straddle carriers have been purchased. With the purchase of the two cranes, the Limassol port is now in a position to serve the largest container ships and attract transhipment business. In addition, three older cranes have been revamped, while equipment passed on by the Cyprus Port Authority ...

U.S. soybean exporters are facing what may be their busiest and most logistically challenging summer due to an unprecedented backlog of soybeans purchased by China that still needs to be shipped and widespread floods in the U.S. Midwest. While there is little hope for a prompt U.S.-China trade deal, some 7 million tonnes of U.S. soybeans bought before talks broke down last month will need to be delivered to Beijing in coming months, U.S. exporters and industry analysts said. China would face steep penalties if it tried to cancel the ...

Russia and Greece have a promising future in wide-ranging economic cooperation, with the latter interested in importing liquefied natural gas (LNG) from the former, Dimitrios Velanis, an adviser to the Greek prime minister on Russian and Eastern European issues, told Sputnik. “This year was more productive in terms of the economic relations between Russia and Greece. Maritime, shipping as well as steel industry and energy agreements were reached… Greece is currently at the economic growth phase after a long crisis, and the use of Russian energy resources, including gas, will ...

Venezuelan PDVSA’s oil exports took another hit in May, following a deadline for customers to wind-down purchases in order to comply with U.S. sanctions, according to documents from the state-run company and Refinitiv Eikon data. The energy firm’s exports of crude and refined products fell 17% in May from the previous month to 874,500 barrels per day (bpd), mainly due to difficulty in selling off barrels of upgraded crude that used to be bought by U.S. refiners. Venezuela has drained oil inventories since late January, when Washington imposed sanctions on ...

The world’s 40 largest mining companies continued to consolidate their stellar performance of the past several years by delivering steady growth in 2018, according to PwC’s Mine 2019 report released today. As a group, the Top 40 increased revenue by 8%, buoyed by higher commodity price rises, and lifted production by 2%. They also boosted cash flows, paid down debt and provided a record dividend to shareholders of $43 billion. Forecasts indicate continued steady performance in 2019. Revenue should remain stable, with weaker prices for coal and copper offsetting marginally ...

Oil prices resumed their slide on Wednesday, dragged down by an unexpected gain in U.S. inventories and comments from the head of Russian state oil producer Rosneft questioning the point of a deal with OPEC to withhold supplies. Brent futures were down 42 cents, or 0.7%, at $61.55 a barrel by 0552 GMT. They rose 1.1% on Tuesday after a near 13 percent fall in the previous four sessions. U.S. West Texas Intermediate (WTI) crude was down by 48 cents, or 0.9%, at $53 a barrel. The U.S. benchmark closed ...

Forget the trade war and global growth pessimism. Citigroup Inc. is sticking to its target of Brent oil rising to $78 a barrel in three months. Supply risks, rising demand over the northern summer, light fund positioning and a tight physical market are some of the reasons cited by the bank for its optimism in a note by analysts including Ed Morse, global head of commodities research. Citi’s forecast implies a 28% increase from current levels. “Underpinned by rising trade tensions, the global economic picture has clearly deteriorated since May,” ...

Lower oil prices are starting to rebalance the oil market by slowing the rise in U.S. crude output and encouraging Saudi Arabia and its allies to extend production cuts through the end of 2019. U.S. crude production rose 241,000 barrels per day (bpd) to 11.905 million bpd in March from February, according to the U.S. Energy Information Administration (“Petroleum Supply Monthly”, EIA, May 2019). U.S. crude output during the first three months of the year was up 1.575 million bpd compared with the same period a year earlier, but the ...

Vitol Group, the world’s largest independent oil trader, expects OPEC and its allies to extend their production cuts into the second half because of the uncertain market outlook. “We expect them to roll” over current output targets, Vitol Chairman Ian Taylor said in an interview with Bloomberg Television on Monday. “It’s the easiest thing to do.” Taylor described a market caught between two opposing forces. On one side, financial investors are selling oil contracts because they’re worried about the impact of the deepening trade war between the U.S. and China. ...