GC Rieber Shipping has entered into a ship management contract with Statnett Transport AS (Statnett) for technical management of Statnett’s ro-ro vessels Elektron and Elektron II. The contract has a duration of three years plus options. The vessels are mainly used for subsea works and transport of transformers, generators and turbines to Norwegian energy plants. Source: GC Rieber Shipping

Maritime technology startup CargoMate Technologies has today announced they will begin operating under a new name; Intelligent Cargo Systems. The two-year-old startup, which develops port call optimisation technology, is launching the new brand to better serve their strategic objective of improving the flow of cargo around the world. “What started as a digital logbook to improve the lives of seafarers, has become a sophisticated analytics solution which gives stakeholders real-time visibility of port operations and tracks the performance of container terminals worldwide,” says Emma Mark, Marketing Manager at Intelligent Cargo ...

Growing demand for professional shipping services from the offshore oil & gas industry has prompted GAC to open an office in Uruguay. The new office continues 2018’s expansion of the Group’s Americas region with the opening of GAC Brazil’s office in Fortaleza, and the establishment of GAC Panama. Geographically, Uruguay is located along the East Coast of South America (ECSA), making GAC Uruguay an ideal next step for the Group. Bob Bandos, GAC Group Vice President – Americas, says: “With the opening of GAC Uruguay, we are better positioned on ...

The next time you hop on a ferry, take a look at the captain’s bridge. There may not be a human at the helm much longer. Ships around the world are beginning a transformation into autonomous machines, leveraging the same advances in artificial intelligence that are shaking up the automotive world. In 2017, Ugo Vollmer and his friend Clement Renault were working on self-driving cars in Silicon Valley when an article on autonomous shipping caused them to make a sudden change in direction. Reading that more than 80% of goods ...

The last few years have proved challenging for offshore drilling major Transocean, which saw its day rates and contracting activity post significant declines. While things are likely to look up for the company over 2019, driven by a large number of planned offshore projects, the recent decline in oil prices and a continued oversupply of deepwater rigs could still prove a challenge. In this note, we take a brief look at what lies ahead for Transocean and the broader deepwater market in 2019. We have also created an interactive dashboard ...

The Great Eastern Shipping Company Ltd. (GE Shipping) has entered into a contract to sell its 1994 built very large gas carrier Jag Vishnu of about 49,353 deadweight tonnage (DWT). The vessel will be delivered to the new buyer in H1FY20. The company made the announcement on Thursday afternoon, post market hours. Despite the news, shares of the company slipped ~1% in intraday trade on Friday. “The company’s current fleet stands at 48 vessels, comprising 35 tankers (12 crude carriers, 17 product tankers, 6 LPG carrier) and 13 dry bulk ...

Two fresh VLCCs were heard booked on the Hound Point-South Korea route for a February voyage Friday, shipping and trading sources said. The reports suggest Forties crude oil will leave the North Sea for the Far East next month. According to sources, Glencore’s shipping arm ST Shipping placed the Bunga Kasturi Tiga VLCC on subjects for a February 15 voyage, while Trafigura was thought to have booked the Mermaid Hope for an earlier voyage starting February 10. Representatives of Glencore and Trafigura were not available for comments. This brings the ...

Kevin Kilps’ car ferry churns the waters of Germany’s Rhine river as he steers towards the bank opposite Kaub, a scenic village just south of the rocky outcropping named after the legendary siren Lorelei. It’s typically a busy stretch of waterway. On a normal day, the commuter ferry vies for space with cargo barges shuttling supplies to factories in the south and German goods to ports on the North Sea as well as tourist boats heading for nearby mediaeval castles and vineyards. After a prolonged summer drought, the bustling traffic ...

Hong Kong listed Brightoil Petroleum (Holdings) Limited (the ‘company’ and together with its subsidiaries, collectively the ‘group’) issued a statement on the Hong Kong Stock Exchange (HKSE) regarding potential debt reorganisation. “The company is currently assessing the financial position of the group and the impact of claims made by some creditors against the Group,” it said. “Based on a preliminary assessment made by management of the company, the total creditor claims amount to approximately USD250 million. “The management of the company considers that the group has sufficient cash flow to ...

An obscure ruling by the International Maritime Organization, the United Nations agency that regulates shipping, could rock the global economy next year. The ruling — known as IMO 2020 — could send the cost of marine diesel spiraling upward, disrupt the shipping industry and even stoke global inflation. And yet the purpose of IMO 2020 is entirely benign: It’s designed to clean up the environment, protect human health and save lives. The regulation is aimed at forcing shipowners to stop using dirty fuel oil to power their ships. “Marine fuel ...

The definition of ‘laid up’ used in this context: ‘Estimating the number of vessels in layup is an imperfect science, however, using a big data approach VesselsValue can provide a valid estimation using the following methodology. VV observes the recency of a vessel’s AIS signal and filters the data appropriately. Vessels that have not signalled for over a week are considered to be in layup.’ It is no secret that the Offshore sector is suffering. Through observing the figures, we can see that some areas are experiencing more layup than ...

Life is hectic, and sometimes it gets even busier than that, but for the mariner there are pressures from all quarters. Paperwork is a big draw on the time of most deck officers and getting the pages of compliance, port requirements, cargo and fuel documents in order for the next port of call can take a mammoth effort, only to have it restart when the vessel is in her berth if in fact there is a vacant berth and it is not a local holiday or five thousand cruise passengers ...

Capesize A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply of tonnage. Rates below $6.00 prompted resistance, and after a clear out of tonnage, rates climbed back over $6.00 finishing the week in the upper $6.00s. Timecharter rates slipped under $10,000 daily for 180,000 tonners, but recovered ground, with a 2010 vessel fixing from CJK for an east Australia/India run at $12,000 with an option of China at $13,000. Brazil/China activity fluctuated, the pace quickened as ...

World coal seaborne trade grew 3.7 percent last year helped by higher output in India, Indonesia and Russia, Germany’s VDKI coal importers lobby said. Imports and exports rose to 1.202 billion tonnes from 1.159 billion tonnes in 2017, VDKI Managing Director Franz-Josef Wodopia said in an speech made available to Reuters. Of the total, trade in steam coal used in power stations rose by 3.6 percent to 920 million tonnes. Trade in coking coal used for steelmaking rose by 4.4 percent to 281 million tonnes, the VDKI (Verein der Kohlenimporteure) ...

VLCC A steady week in the Middle East Gulf saw rates hovering between WS 55.75 and 56.25 for 270,000mt to China. Going west, rates for 280,000mt to the US Gulf held at WS 24.75 basis Cape to Cape. With healthy activity in the US Gulf/Caribbean area supporting other markets, rates to China held around $7.4 million. West Africa recovered modestly, with 260,000mt to China last fixed at WS 57.5, up 3.75 points from the end of last week. Hound Point to South Korea went at $6.2 and subsequently $6.3 million. ...