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.
Nearly 40 tourists rescued by Egyptian authorities as a passenger boat sinks in the Red Sea near Marsa Alam in southern Egypt. The boat carrying 26 French tourists and 10 Egyptians hit coral reefs before it sank off the Red Sea coast - one of the most prominent
Greece ferried hundreds of refugees to its mainland on Friday to relieve the pressure on outlying islands that have been overwhelmed by thousands of people arriving by boat to flee Syria's civil war. At the same time, crowds of migrants massed on the Greek border with Macedonia
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) and NYK Auto Logistics (India) today announced the commencement of RORO operations at Pipavav Port. Ford Motors India Pvt Ltd dispatched the first lot of its new Ford FIGO built in its Sanand plant in Gujarat for exports.
Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. Snapping back from a deep two-month slump that reached 6-1/2 year lows
Local media quote Huntington Ingalls Industries (HII) as announcing this week the Avondale Shipyard, just upriver from New Orleans, is being sold. The historic, 206-acre facility is on the market after a tumultuous last five years that have included layoffs and threats to
Egyptian President Abdel Fattah el-Sisi issued a decree establishing an economic zone for Egypt’s Suez Canal, reports Reuters. The decree establishes a 460-square-kilometer economic zone around the canal the government says will be used to develop an international industrial
Northern Fleet divers salvage weapons and equipment from the American ship “Thomas Donaldson”, which sank after a German submarine attack outside Murmansk in 1945. Divers from the Northern Fleet’s search and rescue department in 2014 started an operation to bring
Migrants desperate to get off the Greek island of Kos fought each other on Saturday while nearby a passenger ship chartered to house and process refugees lay empty 24 hours after it had arrived. Outside the island's main police station, about 50 migrants from Afghanistan
Havyard Group ASA is taking further measures to adapt to the market situation and maintain the Group's profitability, thereby securing jobs for the future All business areas in Havyard Group have been affected to a varying degree by the general downturn in the market in the oil industry
A Unified Command has been formed to respond to a release of diesel fuel from the Jarvis St. Power Plant, the U.S. Coast Guard reported Monday. Coast Guard Sector Juneau, Alaska Department of Environmental Conservation pollution responders from Juneau and members of Marine Safety
A group lead by Brookfield Infrastructure Partners, a global asset manager, had reached an agreement to buy the Australian port and railroad operator Asciano for about $8.8 billion in cash and stock, and that it was shopping for ports farther afield in a push to expand, reports NY Times.
Russian President Vladimir Putin has taken a high-profile dive to the bottom of the Black Sea to explore an ancient shipwreck off Crimea in a submersible, in a stunt aimed at cementing his image as adventurer and control of the annexed territory, reports AFP.
SC Ports Authority Posts $30.4 Million in Operating Earnings, $196.8 Million in Revenues for FY2015; Community Giving Program Awards $81,000 in Grants to 42 Charitable Organizations Today SC Ports Authority reported 2015 fiscal year-end operating earnings of $30
A report in the Straits Times Vietnam is set to build a US$2.5 billion seaport in Ca Mau, its southernmost province, hoping to steal some spotlight away from the more popular regional hubs Singapore and Malaysia and could be a clue to Kra Canal.
Syrians want to get to northern Europe. A car ferry carrying just over 2,400 Syrian refugees arrived on the Greek mainland on Thursday as a wave of migrants fleeing conflict and poverty continued unabated, straining a country which is already in economic crisis.