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
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
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
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
Bay Ferries Ltd. announced on June 30 that the Princess of Acadia will make its final three-hour trip between Digby and Saint John, N.B., on Oct. 31.High fuel prices and declining tourist and commercial traffic were among factors in the decision, the company said in a news release. Local government officials are working together to find a way to maintain the area’s ferry service. Many officials are expected to travel to Halifax for talks with cabinet ministers and, possibly, the premier
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.
Egypt plans to allow smaller vessels in the Mediterranean direct access to East Port Said around the clock instead of just eight hours a day by building a side channel near the Suez Canal, which will speed up shipping movements in the area.
Protestors rappelled off a bridge in Portland, Oregon on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return of a ship to Alaska that holds emergency equipment. Greenpeace said 13 protestors lowered themselves from the St
The West Gulf Maritime Association (WGMA) is urging its members with ships arriving at any port in the western US Gulf to participate in the Menhaden survey. The annual Menhaden spawn (typically April through October) has created challenges for ships transiting local waterways
China and Russia will hold joint naval and air defence drills in the Sea of Japan, China said on Thursday, the latest exercises between the two countries which could concern Japan, involved in a marine dispute with China to the south. The manoeuvres also come as the United States ramps up
Venezuela's request to review a $46 million compensation claim it has been ordered to pay to oil service company Tidewater was rejected and the stay on the award's execution lifted, a World Bank tribunal said in a decision posted on its website on Wednesday.
PJSC LUKOIL has strongly denied accusations of money laundering and tax evasion brought against Petrotel-LUKOIL and its employees by the Prosecution Office under the Board of Appeal of the city of Ploesti, Romania. LUKOIL has been operating on Romania’s territory since 1998 and is
A 40 truck convoy carrying enough food to feed 117,000 people for a month has reached Yemen's Aden province after being held at a checkpoint for days, Abeer Etefa, a spokeswoman for the U.N. World Food Programme in Cairo, said on Tuesday.
Ten environmental groups say a missing icebreaker should be a deal-breaker for Arctic offshore drilling by Royal Dutch Shell PLC off Alaska's northwest coast and urged the U.S. government not to grant final permits to Shell, reports Reuters and AP.
“Weak market situation” prompts realignment of Wärtsilä’s Ship Power business Wärtsilä announced a realignment of its Ship Power business, now renamed Marine Solutions. The reorganization, triggered by “sluggish global marine market
Hanjin Group opened its creative economy innovation center in Incheon on Wednesday, hoping to develop the city into a distribution hub of Northeast Asia utilizing advanced shipping technologies. As part of the center, Hanjin created a fund worth 159 billion won ($138 million)
Maritime education and training in focus at Japan’s World Maritime Day Parallel Event Present and future maritime education and training needs were the focus of an international symposium held during the 2015 World Maritime Day Parallel Event hosted in Japan’s port city of
The first cargo ships passed through Egypt's New Suez Canal on Saturday in a test-run before it opens next month, state media reported, 11 months after the army began constructing the $8 billion canal alongside the existing 145-year-old Suez Canal.
History was made at ABP’s Port of Teignmouth with the visit of its first ever cruise ship. The Hebridean Princess, a luxury cruise ship, arrived from Dartmouth carrying 50 passengers. They were welcomed by the town officials before embarking on a day trip around Teignmouth
Shipping group CMA CGM has taken delivery of the newbuild box ship CMA CGM Vasco de Gama [sic] on July 27. Built by China State Shipbuilding Corporation (CSSC), the 18,000 TEUs vessel is, with its 399 meters length and 54 meters width, is the largest ship in the CMA CGM fleet and the largest
British Columbia's finance minister Michael de Jong said that the construction of Petroliam Nasional Bhd’s (Petronas) $36 billion liquefied natural gas (LNG) export terminal project in Canada is expected to start in September.