Meyer Turku Increased Turnover in 2022
Meyer Turku Group has published its 2022 financial results indicating a positive turnaround on the previous year.The Group’s turnover was 1.30 billion euros, up about 200 million euros on 2021. The loss for the financial year was 15.6 million euros, which was less than the previous year's 17 million euros.Meyer Turku CEO Tim Meyer comments on the result: "During 2022, we were particularly affected by the difficult availability of materials and overall increased costs…
US Coast Guard Warns on Load Line Regulations
The Office of Investigations and Casualty Analysis has released U.S. Coast Guard Marine Safety Alert 06-23: Avoiding Load Line Requirements.The safety alert cites a recent marine casualty resulting in the total loss of a crane barge, estimated at over $6 million, and cautions about the risks associated with not complying with load line regulations.The incident occurred approximately 18 miles offshore…
Lomar Shipping Buys Three Bulk Carriers
U.K.-based shipowner Lomar Shipping announced it has acquired three Supramax bulk carriers as part of its ongoing bulker fleet expansion program.The company, a subsidiary of New York-based Libra Group, said it has taken delivery of the 57,038-dwt Oslo Trader (ex Ariadne, built in 2010), while the 2012-built 56,702-dwt Lima Trader (ex Universal Bangkok) and 57,075-dwt Rome Trader (ex Haut Brion), built in 2011…
US Consumer Goods Import Forecast Lowered for First Half of 2023
Closely watched U.S. retail trade forecasters on Monday lowered their import target for the first half of 2023 and said they expect incoming ocean container volume to remain soft going into this autumn - when retailers like Walmart (WMT.N) should be well into holiday season preparations.The Global Port Tracker now expects U.S. container imports of 10.4 million 20-foot equivalent units (TEU) for the first half of the year, a reduction of nearly 4% from its prior forecast.
Ukraine Says Russia Has Effectively Stopped Black Sea Grain Deal
Russia has effectively stopped the Black sea grain deal by refusing to register incoming vessels, Ukraine's reconstruction ministry said on Monday.Ukrainian Black Sea ports were blockaded after Russia's invasion last year, but access to three of them was cleared last July under a deal between Moscow and Kyiv that was brokered by the United Nations and Turkey."The Russian Federation once again effectively…
CMA CGM to Buy Bollore Logistics Unit for $5.5 Billion
French shipping group CMA CGM has committed to buy the logistics operations of family-run conglomerate Bollore for an enterprise value of 5 billion euros ($5.5 billion), the two companies said on Monday.CMA CGM granted the Bollore group an option to sell it the logistics business, which generated more than 7 billion euros in revenue last year and employs 13,500 people.Bollore said it would decide whether…
LNG Dual-fuel VLCC Design Gets AIP from Bureau Veritas
French engineering firm GTT said it has obtained an approval in principle (AIP) from Bureau Veritas (BV) for the design of a liquefied natural gas (LNG) dual-fuel very large crude carrier (VLCC). This approval is part of a joint development project (JDP), started in May 2022, and carried out by Shanghai Waigaiqiao Shipyard (SWS) and BV.The SWS-designed vessel features optimized hull lines and is equipped with GTT’s high-tech system for LNG cargo containment…
Colonna’s Promotes Three Execs
Tom Godfrey, President & CEO of Colonna’s Shipyard, Incorporated (CSI), today announced the promotions of three executives from the company’s leadership team to new positions. Randall Crutchfield has been promoted to Executive Vice President and Chief Operating Officer (COO) and Jordan Webb, becomes the Executive Vice President of Shipyard Operations. Chris Hartwig has been promoted to Senior Director of Steel America. All three appointments are effective immediately.
Lifeboats Need to be Reinvented, Industry Group Says
A maritime industry safety group is calling for the total reinvention of lifeboats on board cargo vessels amid frequent injuries among seafarers.“Lifeboats are an essential part of crew safety onboard every vessel, but seafarers are way too often getting injured when launching the lifeboat,” the Container Ship Safety Forum e.V. (CSSF) said. “Over the years, many seafarers have been injured – some of them fatally – while launching the lifeboat during evacuations or evacuation drills.
Bad Fuel Caused Washington State Ferry Grounding
A fuel contamination issue led to the grounding of a Washington State Ferries (WSF) vessel in April, the operator said in a recent update.The 440-foot double-ended Jumbo Class ferry Walla Walla was traveling from Bremerton, Wash. to Seattle with 596 passengers and 15 crew members on board when it ran aground in Rich Passage, just off Bainbridge Island, Wash., at approximately 4:30 p.m. on April 15.
Thousands Rally in Australia Against Potential Submarine Base
Thousands of people rallied on Saturday against a future nuclear-powered submarine base at Port Kembla in eastern Australia as part of the A$368 billion ($244.1 billion) AUKUS defense pact with the United States and Britain.The second-largest coal export port in New South Wales state is the Defense Department’s preferred site for a new east-coast submarine base, according to state broadcaster ABC.Protesters…
Tanker Crew Members Rescued More Than Five weeks After Gulf of Guinea Pirate Attack
Six crew members who were kidnapped by pirates from a Danish-owned ship in the Gulf of Guinea in late March have been rescued from an undisclosed location in Nigeria…
MODEC Confirms Its First FPSO Order in Guyana
Japan's MODEC said Monday it would proceed with engineering, procurement, and construction on the Uaru FPSO vessel following a final investment decision on the Uaru offshore oil project by ExxonMobil in Guyana last month.The Uaru FPSO is named ‘Errea Wittu’, which means ‘abundance,’ and will be the fifth offshore FPSO in Guyana and the first to be supplied by MODEC. The first four, two of which are now in production in the Stabroek block off Guyana…