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
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 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.
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
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
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.
The Department of Defense issued a statement memorializing Bob Hope, the legendary comic who was well known for entertaining many audiences laugh and for entertaining troops through the ages. Today, we mourn the loss of a true American patriot. The first and only American ever to be made an honorary Veteran of America s Armed Forces, Bob Hope holds a special place in the national security pantheon. He called the troops his "best
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
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.
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.
DP World is expanding its container terminal at Port of Caucedo following the expansion of the Panama Canal to accommodate larger container ships, reports ASC. DP World will increase the capacity of the port to 2.5-million TEU and started work to increase the depth of the quay wall
Federal safety investigators traveled to Florida on Tuesday to investigate the U.S. container ship lost at sea after being hit by powerful Hurricane Joaquin, leaving one person confirmed dead and 32 others missing. The team from the National Transportation Safety Board left Washington for
Deep seas may complicate efforts to find the sunken U.S. cargo ship lost off the Bahamas during Hurricane Joaquin, a federal safety investigator said, as a search and rescue mission for 32 missing crew stretched into a sixth day. A U.S. National Transportation Safety Board team arrived on
A yacht has gone adrift in the North Sea after losing steering in difficult weather conditions, reports the U.K. Maritime and Coastguard Agency (MCA). One man is believed to be aboard the yacht which was making its way from Lerwick to Norway when it encountered difficulties around 8:50 p.m
The United States Department of State awarded a contract to Willard Marine, Inc., to provide the Philippine National Police Maritime Group with patrol vessels equipped to conduct search and rescue operations along Philippine maritime borders.
Global marine terminal operators DP World, Hutchison Port Holdings Limited (HPH), APM Terminals, PSA International and Shanghai International Port Group (SIPG) – five of the world’s largest port operators, and joined by the Port of Rotterdam Authority (PRA)
The UK P&I Club one of the leading shipping protection and indemnity mutual insurers, has awarded Tobias Rennekamp the Robin Travis Scholar for 2015. Tobias will spend three months in the Thomas Miller London office and the offices of selected lawyers, surveyors
Big investments, lean manufacturing techniques borrowed from the automotive industry, and a more engaged workforce have revamped the Wisconsin shipyard where Italy's Fincantieri SpA builds the Freedom variant of the U.S. Navy's coastal warships for prime contractor Lockheed Martin Corp.
The tracks for a new, faster railway linking the Indian Ocean port of Mombasa to Kenya's capital will be laid by the end of 2016 and will open for commercial traffic on target in June 2017, the chairman of Kenya Railways said on Friday. The Chinese-financed project is the first stage in a
The Port of Felixstowe is creating an environmental corridor as part of the Go Green campaign launched by Hutchison Port Holdings (HPH) and a number of other global port operators. The initiative at Felixstowe will include the refurbishment of part of a system of dykes within the port
An American woman Kate McCue is on her maiden voyage at the helm of the Celebrity Summit. She's leading the 14-day cruise with more than 2,100 passengers and a crew of about 950. Kate McCue, 37, took the helm of her maiden voyage on the Celebrity Summit ship on Sunday as the
First Gen Corp. hopes to secure a partner for its planned $1-billion liquefied natural gas (LNG) import terminal in Batangas this year as the company gears up for the project’s construction phase in 2016, reports local media.
The Investment Coordinating Board (BKPM) is looking to book millions of dollars of investment realization in the shipbuilding industry by the year-end as domestic demand is expected to skyrocket following the government’s instruction to prioritize the utilization of locally produced
Saga Cruises has placed an order for a new cruise ship to be built by Meyer Werft in Germany with the delivery date of Summer 2019. The deal comes with an option for a second new ship to be delivered in 2021. The 55,900 gross ton vessels will span approximately 234 metres in
Hurricane Joaquin will bring high winds and a storm surge to the Central Bahamas through Thursday night, the U.S. National Hurricane Center said in its latest advisory. The major hurricane, located about 65 miles (105 km) southeast of San Salvador with maximum sustained winds of 120 mph (195