Marine link


NSA: Cuts Coming for Offshore

The Norwegian Shipowners' Association (NSA) had high hopes of maintaining status quo while the White Paper on shipping policy was still pending. These hopes were not met in the Government's proposal for a National Budget, put forward last week, according to NSA. The net-wage scheme for ferries is to continue, but cuts are proposed for offshore vesssels. According to NSA, there are no proposals affecting the tax regime for shipowning companies or owners in the National Budget. NSA contends that Norway is still out of sync with the rest of Europe, and the maritime industry in Norway has growing expectations for this to be righted in the forthcoming White Paper, says Marianne Lie, Director General of The Norwegian Shipowners' Association. The Government announced a full evaluation of the tax system this fall. NSA calls on the Parliament to hold on to the agreement that was reached for the seafarers three months ago. It is clearly a need to determine a long-term policy for seafarers in connection with the ongoing development of a White Paper on shipping policy, which is due in the spring 2004, says Lie. In relation to economic support for using Norwegian seafarers, NSA was hoping the Government would continue supporting this in the Budget. However, according to NSA, the Government proposes to abolish the net wage system for seafarers on shuttle tankers and offshore vessels that was introduced on 1 July 2003, and instead introduce a 19 percent refund scheme

Expanded Suez Canal Opening to High Hopes, Some Doubts

Photo: Suez Canal Authority

Egypt will open an expansion to the Suez Canal to great fanfare on Thursday, the centrepiece of President Abdel Fattah al-Sisi's plans to revitalise the country's economy after years of damaging political turmoil.   Some analysts and economists say, however, that the mega-project may fail to meet the great expectations.   The Suez extension was announced by Sisi a year ago and billed as a major national accomplishment on a par with President Gamal Abdel Nasser's nationalisation

Jurong Shares Surge on Newbuilding Order

Jurong Shipyard shares reportedly surged more than eight percent, or Singapore $0.60, to a year high of S$8.10 morning on hopes that the yard had won a multi-million dollar new building order.

Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come under pressure next week if charterers hold back cargoes, ship brokers said. "So far, I can't see too much cargo in the market. Charterers are hoping rates are going to drop again," said a Shanghai-based ship broker on Thursday. "Sentiment is not good," the broker added.

SIA to Honor Honeywell's Gordon Hope

Gordon Hope: Photo SIA

The Security Industry Association (SIA) says it has chosen Gordon Hope, general manager of Honeywell's AlarmNet communications network, as the 2014 recipient of the George R. Lippert Memorial Award. Hope, who celebrates 25 years with Honeywell this year, joined the company in 1989 when it was Ademco. He began in marketing, with responsibilities including the control panel family. Over time, he added responsibilities, ultimately becoming director of marketing and then vice president of

Hyundai Heavy Wins Record Orders in Feb.

Hyundai Heavy Industries has set a new record in the global shipbuilding history by winning $5.7b in orders in February, the highest figure ever for a single month. The Korean shipbuilding giant said Sunday that it won $5.7 billion in orders for 25 ships last month, including a $1.6 billion contract with the French energy corporation Total for a floating production, storage and offloading vessel (FPSO). The February orders also include a deal for a $660 million deep-sea oil and gas

Wave Power Generation – US Navy Hawaiian Project

Wave power site visited by NAVFAC: Photo credit USN

Navy eyes Kaneohe wave power testing expansion The Navy hopes to expand its testing for ocean wave energy power generation in Hawaii, having been testing an energy buoy in about 100 feet of water off Marine Corps Base Hawaii in Kaneohe Bay for about 10 years. The Navy now hopes to put two more buoys in water more than 200 feet deep, and the greater depth will allow it to test larger devices closer to the size it needed to generate energy for customers.

UK O&G to Address Decommissioning Issues

The UK oil and gas industry will be looking for a firm step towards resolving the fiscal uncertainty surrounding North Sea decommissioning when Chancellor George Osborne delivers his 2012 Budget on March 21, according to business advisory firm Deloitte. Over the next decade, the UK Continental Shelf (UKCS) can expect to see a number of fields and installations cease production and commence decommissioning, potentially leading to the loss of critical infrastructure.

High-Tech Hull Coating Receives NYSERDA Funding

Greenfield Manufacturing Inc., a Saratoga Springs chemical manufacturing company, has received New York State Energy Research and Development Authority (NYSERDA) funding of $183,000 to help commercialize and deploy a high-tech hull coating that can improve boat engine efficiency by reducing friction.   HullSpeed High Performance Coatings, a division of Greenfield, produces eco-friendly alternatives to current marine paints and coatings that can be environmentally harmful

SKorean Shares Close Higher

According to reports, South Korean shares finished higher on Thursday, with late buying of shipbuilding and technology counters helping the key index close in positive territory. Trading was listless for most of the session as investors found little direction from Wall Street's mixed close overnight. Weak trade data released by the Bank of Korea triggered fears that growth momentum could slow and prices shoot up. The central bank said the country had a merchandise trade deficit of 1

Barge-Rail Service on Upper Columbia, Snake Rivers

Columbia-Snake River System Courtesy U.S. Army Corps of Engineers

  Container barge service is back on the upper Columbia and Snake rivers.The Up river Container Barge-Rail Shuttle will help importers and exporters in eastern Washington, Oregon and Idaho move containerized agricultural products to markets in Asia

Europe-Bound Diesel Diverted to Asia

At least two tankers redirected to Singapore; Vitol floating storage vessel also heading East. Diesel cargoes which had planned to discharge in a heavily-supplied Europe have recently been redirected to Asia where the strong demand and refinery outages have constrained supplies.

Hague Court Begins Hearing On South China Sea Issue

Map by USC US-China Institute

 A United Nations arbitral tribunal in The Hague heard some of the Philippines’ territorial claims over the disputed Spratly Islands in the South China Sea on Tuesday.    A delegation of nearly 50 lawyers and representatives for the Philippines gathered to present their case

Commodities Hit 2002 Lows Before Rebounding on Oil

Commodities hit 13-year lows before rebounding on Monday after Saudi Arabia's pledge to work toward crude price stability bolstered oil and France's first wheat exports to Indonesia in more than six years helped lift grains markets.  

American Club Announces 2.5% Increase

Joe Hughes (Photo: American Club)

At its meeting in New York on November 20, the American Club’s board resolved to levy a general premium increase of 2.5 percent for P&I cover, but no increase in the cost of FD and D for the 2016 policy year. The club’s board also reviewed release call requirements for open policy

Port of Long Beach Mulls ‘Flexible Free Time’

Photo: Port of Long Beach

Port of Long Beach officials will consider reducing the amount of time import containers can be stored on docks without charge, hoping the change would increase velocity of cargo moving out of the port.   Since 2005, the length of time containers can stay on the dock, called “free time

Transas Launches High Voltage Training Breaker

Photo: Transas

Coming in response to recently introduced STCW requirements, Transas has launched a high voltage training solution for marine engineering and electrical training. The new rules require training to be conducted using real equipment, leading Transas to partner with the power technology specialist

Statoil’s Exit from Alaska ‘Disappointing’ -NOIA

Randall Luthi (Photo: NOIA)

NOIA President Randall Luthi, issued a statement on Statoil’s decision to exit the Alaskan Arctic, calling the departure “disappointing” yet “understandable” due to a tough economic and regulatory climate.  

Dryad Maritime's Mediterranean Special Advisory

Courtesy Defence Interaction Intelliegence Agency

  This morning Dryad Maritime released their Mediterranean Special Advisory, an in depth report, looking at the complex threats currently facing commercial shipping in the Mediterranean Sea. It has been written with the purpose of providing a better understanding of this important area of sea

US Oil Drillers Add Rigs for First Week in 11

U.S. energy firms this week added oil rigs for the first week in 11, data showed on Friday, despite continued weak crude prices.   Drillers added 2 oil rigs in the week ended Nov. 13, bringing the total rig count up to 574, oil services company Baker Hughes Inc said in its closely followed

Project Cargo and Grain Top Seaway Cargoes in October

With two months left in the shipping season, U.S. ports were busy moving grain and project cargo in October.   “We anticipated an increase in vessel activity and cargo tonnage into the Great Lakes Seaway System for the month of October, and we saw it,” said Betty Sutton

Nautisk Bolsters Management Team in Asia

Alan Leung (Photo: Nautisk)

Global chart distributor Nautisk said it is strengthening its presence across one of its core global locations with the appointment of two new managers in Asia.   Alan Leung will take up the role of Regional Sales Manager in Hong Kong to help with Nautisk’s business expansion in the

Bestobell Secures High Pressure Valve Orders

Photo: Bestobell Marine

Bestobell Marine has secured two orders to supply its new range of high pressure globe and check valves to be used in high pressure fuel gas systems on board ships.   The valves will be used within the pump and vapouriser skids for six LNG carriers that are being built at DSME shipyard and

China Says Unaware of Plan to Discuss Sea Dispute at APEC

China is not aware of any plan to discuss the disputed South China Sea at an Asia Pacific leaders' summit next week, a senior Chinese diplomat said on Tuesday, amid tensions between China and the Philippines over the waters.   For its part

MPA Calls for Integrated Approach to Blue Economy

Speech by Andrew Tan, Chief Executive of MPA at 3rd Busan International Port Conference (Photo: MPA)

  In his opening address at the Sustainable Ocean Summit 2015 held in Singapore today, Chief Executive of the Maritime and Port Authority of Singapore (MPA) Mr Andrew Tan called for an integrated approach bringing together the science, the research

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