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UASC building six Eco-friendly 18,800 TEU container ships

by Azimuth Support Team on 12/17/15

UASC launched M.V. Barzan the first of six 18,600 TEU super-eco friendly container ships to be built in South Korea in July 2015 which has carbon emissions far lower than those of the Maersk EEE class containerships.

She has a deadweight of 199,744 tonnes, and gross tonnage of 195,636. It took the shipyard six months to build her (from steel cutting to launching). Classed under DNV GL as the first ship ever to have the "Gas Ready" class notation, M.V. Barzan has the lowest per container level of carbon emissions.

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New all time low for Baltic Dry Index

by Azimuth Support Team on 12/17/15

The Baltic Dry Index fell 4.7 percent to 484 points, the lowest since January 1985. This is the shipping industry’s most-closely followed rates for hauling commodities plunged to a new low amid a persisting glut of ships and speculation of weakening Chinese steel output that could translate into declining imports of iron ore into China.

Ship owners are reeling as China’s combined seaborne imports of iron ore and coal — commodities that helped fuel a manufacturing boom — record the first annual declines in at least a decade.

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US may soon lift the 40 year ban on Crude Oil Exports

by Azimuth Support Team on 12/17/15

Congressional leaders agreed to lift the nation’s 40-year-old restrictions on crude-oil exports this week. The House and Senate on Tuesday evening reached a deal on tax and spending plans that included an end to the oil-trade limits.

While President Barack Obama is opposed to lifting the ban, the White House has stopped short of threatening to veto the provision as part of the wider spending bill.

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Worls largest Floating Object being built in Korea near completion

by Azimuth Support Team on 12/17/15

The 600,000 tonnes Prelude FLNG facility, the largest offshore facility ever constructed, is nearing completion at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea.

Once completed, the floating liquefied natural gas (FLNG) facility will be moored off Western Australia for a period of 20 to 25 years where it will be used to chill natural gas produced at the Prelude field to –162°C (-260°F), shrinking its volume by 600 times so it can be exported to customers in Asia.

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Shipwreck Possibly Containing $17 Billion Worth of Lost Gold Has Been Found Off Colombia

by Azimuth Support Team on 12/11/15

In 1708, the Spanish flagship San Jose was sunk by a British squadron near the port of Cartagena, in what is modern-day Colombia, taking down with it about 600 souls and a treasure that a U.S. salvage group says may be worth as much as $17 billion.

More than three centuries later, Spain and Colombia are fighting over the spoils. Sea Search Armada, a Bellevue, Washington-based marine salvage group, says the galleon was carrying coins and precious metals mined and smelted in Peru. The San Jose with its 64 guns fell prey to the British squadron led by Commodore Charles Wager as it sought the safety of the Caribbean port of Cartagena.

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