Business & Finance
York Spit Channel Dredging Underway
Contracted crews working for the U.S. Army Corps of Engineers, Baltimore District, began maintenance dredging of the York Spit Channel in the Chesapeake Bay Saturday, May 9th to maintain safe passage for container ships calling at the Port of Baltimore. The channel is being dredged to a depth of 51
Marine Work Continues Around the Centerm Terminal
The Vancouver Fraser Port Authority has released the latest update on their Centerm Expansion Project. Infilling is continuing this month at the northeast dyke and west end dykes 24 hours, six days a week (Monday to Saturday, with Sunday being the off-day), reported the port. “Once the western dykes
BIMCO: The crash of the bunker market and post-IMO 2020 reality
The collapse of the oil market has seen prices of marine fuels compliant with the IMO 2020 sulphur regulation dwindle providing some ease for shipowners in the unprecedented economic crash. “From a shipowner’s or charterer’s perspective, the lower bunker prices provide a glimmer of hope in bleak tim
Church Scar Coastal Protection Scheme Completed
Construction works on the Fairhaven to Church Scar Coastal Protection Scheme are now complete, according to the Fylde Council. VBA – a joint venture between VolkerStevin, Boskalis Westminster and SNC-Lavalin’s Atkins business – worked together with Fylde Council on this £22m coastal protection schem
Arundel Tidal Defense Scheme Update
Good progress continues to be made under the Arundel tidal defense scheme (ATDS) with the improvements to the wall at River Road, informs the Environment Agency. According to the update, further deliveries of steel sheet piles were made to site week beginning Monday 4 May. This means that all the st
Optimarin introduces BWT leasing to ease financial stress on ship owners, operators
Norwegian-based ballast water treatment (BWT) specialist Optimarin has launched a leasing option within the BWT segment as a response to the growing need for more flexibility in financing solutions. The company said that the leasing option is the first of its kind in the segment and comes amid chall
Tema Port Expansion Completed Ahead of Schedule
Meridian Port Services Limited (MPS) successfully completed the entire Phase 1 works of the Tema Port Expansion Project in Ghana (also known as Terminal 3 of Tema Port) on April 30, 2020. “As per the terms of the Concession, MPS Terminal 3 was expected to Go-Live on 28th June 2019 on 2 berths and th
Solstad agrees terms for two anchor handlers. Closes financial restructuring
Norwegian vessel owner Solstad Offshore has finalized negotiations regarding its financial restructuring and the agreed conditions for two Ocean Yield’s anchor handlers.
Eagle Bulk installs scrubbers on 82% of its fleet
US-based shipowner Eagle Bulk Shipping has completed its scrubber installation program in early April, fitting exhaust cleaning systems on 41 ships, the equivalent of 82 percent of the company’s fleet. As such, the company expects its off-hire days to be historically low as ships continue trading wi
MISC posts quarterly loss, LNG revenue grows
Malaysian shipping company MISC reported a net loss in the first quarter of this year but the company’s liquefied natural gas business logged a 11.3 per cent rise in revenue. MISC’s 1 .16 billion ringgit ($270 million) loss in the quarter is mainly related to a 1.05 billion ringgit provision on liti
Honolulu Dredging Deal for Healy Tibbitts
Healy Tibbitts Builders Inc., Aiea, Hawaii, has won a $9.7 million firm-fixed-price contract for the Honolulu Harbor maintenance dredging. According to the US Department of Defense (DoD), bids were solicited via the internet with two received. Work will be performed in Honolulu, Hawaii, with an esti
Loss deepens for Kosmos as impairments bite
Kosmos Energy sank deeper into the red in the first quarter of 2020 due to impairments and low oil prices.
Penspen to support ADNOC’s Zirku project
Engineering and management services provider Penspen has been awarded a contract by Target Engineering Construction for slug catcher replacement support on a project on Zirku Island in the United Arab Emirates.
NRF: US container ports brace for double-digit imports decline
Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the U.S. National Retail Federation and Hackett Associate