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
Analysts say intelligent analytics could give firm an edge. A young Israeli technology company believes the expertise it has built up in tracking ships for governments and security agencies could help it break into the much larger market for providing information on seaborne commodities. Windward, founded just over five years ago by two former Israeli navy officers, plans to launch a maritime information service later this year for banks, investors and trading houses
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
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.
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
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.
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
Lloyd’s Register (LR) and Shipping in Changing Climates, a $4m multi-university and cross industry research project funded by EPRSC, have today released Low Carbon Pathways 2050 – a new study that details a number of potential pathways for the shipping industry’s transition to a
Capesize market "absolutely dead" on Thursday - broker. Vale says no new cargoes but owners sail empty vessels to Brazil. Freight rates for large capesize dry cargo ships on key Asian routes will continue to fall next week as too many ships chase available cargoes
The bankrupting container operator Hanjin Shipping Co. is shedding half of its ground workforce and may ax equally that many of the crew on deck as the bankruptcy court is out to sell most of ground and sea assets, according to the Pulse.
The launch of drones from the air and from the sea heralded the start of an innovative series of demonstrations at Fleet Base East in Sydney. The lunchtime displays are the brainchild of the naval engineering community.
Between July and September, 2016, the architectural safety equipment company InterDam’s engineers subjected its G21 Fire Door to a single sample blast and fire safety test. The result, according to InterDam, was an unqualified success
Following last year’s successful Woolly Hat Day, The Campaign for Wool is once again urging those up and down the country to wear wool to raise money for The Mission to Seafarers on the 14th October as part of Wool Week 2016. With support from shops
With his participation in the Danish Maritime Forum on October 26 the Danish Minister for Business and Growth will highlight the need for greater global cooperation when meeting with maritime key leaders from around the world. Around 90 percent of world trade is transported by sea
Bad ship design can make life onboard difficult and uncomfortable, cause accidents and even kill. Naval architects have a huge responsibility, but few of them have direct experience of how their designs affect those who use them. Improving Ship Operational Design
Hurricane Matthew weakened slightly on Saturday as it moved towards Jamaica and Cuba, although with winds of up to 155 miles per hour (250 kph) it is powerful enough to wreck houses, forecasters said. The strongest hurricane in the Atlantic Ocean since Felix in 2007 was forecast to make
The South Korean government, in collaboration with the private sector, will provide Won14.7trn ($13.3bn) for port upgrades and infrastructure investment by 2020 , according to data released by South Korea’s Ministry of Oceans and Fisheries (MOF).
Asian liquefied natural gas (LNG) gas prices reached a nine-month high this week as demand from India, Japan and South Korea underpinned sentiment, reports Reuters. LNG for November delivery were about $6.20 per million British thermal units (mmBtu), 10 cents higher than last week
Indian Register of Shipping (IRClass), a leading international classification society, opens an office in Alang, India, today. The new office will serve to support its ship recycling initiative in Alang, following on its recent initiative of certifying ship recycling yards according to EU
Following the severity of Hurricane Matthew last week, Mediterranean Shipping Company (MSC) Freeport terminal operator in the Bahamas has temporarily halted operations, in order to repair cranes and ensure full safety and security within container yards.
Liebherr Maritime Crane has delivered the largest mobile harbor crane of the Caribbean to Kingston Wharves Limited in Jamaica. The LHM 600 is equipped with an elongated tower extension and eases the handling of big container vessels up to Super-Post-Panamax size.
Sea Trucks Group said it has secured a contract award from Tullow Ghana Limited for the provision of a Construction Support Vessel (CSV) providing Accommodation and Heavy Lift services to the turret moored FPSO Kwame Nkrumahe, located in the Jubilee Unit Area, 60 km offshore Ghana.