Construction Begins On First Offshore Transfer Vessel For U.S.

By MarEx 2015-08-14 12:06:32

Construction has begun on the first crew transfer vessel for the offshore wind industry in the U.S. The vessel is being built by Blount Boats for Atlantic Wind Transfers, which is the commercial wind services arm of the Rhode Island Fast Ferry. The vessel will be launched April 2016 and will service Rhode Island’s Block Island windfarm.

Built under license from South Boat IOW, a British boat builder and primary supplier to the European wind industry, the vessel will be propelled with waterjets powered by a pair of Tier III MAN V-12-1200CR engines, turning 1,200 hp at 2,100 rpm.

The vessel will have a 15-ton cargo capacity and deliver components to the Block Island site along with workers, and continue as the operations and maintenance boat.

The vessel will have a 15-ton cargo capacity and will deliver components, technicians and construction workers to the Block Island site. It will also serve as an operations and maintenance boat.

Construction of Rhode Island’s 30MW, five turbine Block Island windfarm are underway, and it is expected to be completed in the first half of 2016.

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Construction Beings On First Offshore Transfer Vessel For U.S.

By MarEx 2015-08-14 12:06:32

Construction has begun on the first crew transfer vessel for the offshore wind industry in the U.S. The vessel is being built by Blount Boats for Atlantic Wind Transfers, which is the commercial wind services arm of the Rhode Island Fast Ferry. The vessel will be launched April 2016 and will service Rhode Island’s Block Island windfarm.

Built under license from South Boat IOW, a British boat builder and primary supplier to the European wind industry, the vessel will be propelled with waterjets powered by a pair of Tier III MAN V-12-1200CR engines, turning 1,200 hp at 2,100 rpm.

The vessel will have a 15-ton cargo capacity and deliver components to the Block Island site along with workers, and continue as the operations and maintenance boat.

The vessel will have a 15-ton cargo capacity and will deliver components, technicians and construction workers to the Block Island site. It will also serve as an operations and maintenance boat.

Construction of Rhode Island’s 30MW, five turbine Block Island windfarm are underway, and it is expected to be completed in the first half of 2016.

Details

Nicaragua Has Big Expectations For Its Canal

By MarEx 2015-08-14 11:39:29

Egypt and Panama aren’t the only countries upgrading shipping canals. Nicaragua is investing $50 billion to build the Nicaragua Grand Canal, which will run through Lake Nicaragua. The shipping route will serve as a connection between the Atlantic and Pacific oceans and will allow the passage of larger ships. Construction of the canal began in December 2014 and it is expected to open in 2020.

In June 2013, Nicaragua’s National Assembly approved a bill to grant a 50-year concession to the Hong Kong Nicaragua Canal Development Company to finance and manage the project.

The 173-mile canal will have three sections.The West Canal will run from Brito at the Pacific Ocean up to the Rio Brito Valley and enters Lake Nicaragua. The Eastern Canal will run along the Rio Tule valley through the Caribbean highland to the Rio Punta Gorda valley to the Caribbean Sea. Lake Nicaragua is the center of the canal.

Nicaraguan supporters foresee a vibrant commercial waterway that will reshape commercial shipping and lift the nation out of poverty. The project will generate about 50,000 jobs during its construction phase, and another 200,000 jobs once it is operational. A free trade zone with commercial facilities as well as tourist hotels and an international airport at Rivas will be built when the canal is near completion.

Nicaragua has seen a steady growth of 5% in GDP over the past three years, but 43% of Nicaraguans live below the poverty line.

With the Panama Canal nearing completion, many wonder if there is enough demand for a second shipping route in Central America. The Panama Canal currently accommodates vessels capable of carrying 5,000 TEUs and will carry 13,000 when the project is completed. But Nicaraguan officials contend that its canal will accommodate ships up to 23,000 TEUs.

Activists have also voiced concerns regarding the canal’s environmental impact. Lake Nicaragua is Central America’s largest freshwater lake and many fear it will be contaminated. To accommodate the new generation of ships that will go through the canal, a trench 65-mile, 1,700 feet wide and over 90 feet deep will be dredged in Lake Nicaragua.

Critics fear that the dredging of the will have a disastrous impact on aquatic life by introducing invasive new species and releasing toxic chemicals into the water system. Others also expect the lake’s salt levels to rise once the canal reaches the Pacific Ocean.

Small-business owners on the shores of Lake Nicaragua have also expressed fears that the canal could affect their trade. And reports estimate that 120,000 Nicaraguans could be dislocated due to the project.

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SCI continues to hit profit trail

Government-owned Shipping Corporation of India (SCI) has continued to hit the profit trail, posting a net profit of INR1.63 billion (USD25 million) for the first quarter ending 30 June 2015, benefiting from the rally in tanker markets.
Turnover, however, dropped slightly to INR10.9 billion against
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Two Injured In Fire On USS Truman

By MarEx 2015-08-14 09:33:54

A sailor and pilot aboard the USS Harry S. Truman were injured when an F/A18C Hornet caught fire. Navy officials say the fire occurred during refueling and was quickly extinguished.

The single-seat jet is part of Strike Fighter Squadron 106 based at the Virginia Beach Naval Air Station Oceana. The jet’s pilot sustained minor injuries and ejected onto the flight deck with the fire occurred. A USS Truman sailorwas also injured in the incident and both were transported to the New Hanover Medical Regional Medical Center in Wilmington, North Carolina.

The Hornet is taking an operational pause while the cause of the fire is investigated. The USS Harry S. Truman has been underway off the coast of Virginia conducting carrier flight operations.

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Lauritzen issues profit warning

J Lauritzen Holding, the privately-owned Danish dry bulk and small LPG carrier owner, has issued a profit warning after reporting deep interim losses and booking a heavy impairment charge.
Group net loss in 2Q15 amounted to USD117.6 million compared with a profit of USD27.0 million in the same
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