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
A consortium of global and domestic funds, backed by investors including China Investment Corp, agreed to buy Australia's busiest port for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are helping fuel appetite for infrastructure.
GAIL India, largest state-owned natural gas processing and distribution company in India, will likely scrap the tender for hiring LNG ships after failing to negotiate acceptable terms with bidders in what would hurt India's ambition to build high-tech LNG carriers at home under the Make in India
Crowley Maritime Corp. presented four California Maritime Academy (CMA) students with Thomas B. Crowley Sr. Memorial Scholarships during last night’s Containerization and Intermodal Institute’s Connie Awards dinner in Long Beach, Calif
Pavilion Energy Pte Ltd (Pavilion) and Exxon Mobil Corp. (ExxonMobil) will work together to develop liquefied natural gas (LNG) bunkering in Singapore, as well as other downstream projects, reports the Straits Times. Both companies will also look at developing other downstream
Fincantieri signed a contract with the Australian Government to participate in the Competitive Evaluation Process, conducted by the Department of Defence, to deliver 9 Future Frigates - to be built in Adelaide, South Australia - for the Royal Australian Navy (RAN) under the SEA 5000 programme.
Greek shipping companies Oceanic Illsabe Limited and Oceanfleet Shipping Limited, and two of their employees, were convicted of violating the Act to Prevent Pollution from Ships (APPS), obstruction of justice, false statements, witness tampering and conspiracy
London Offshore Consultants (LOC) has clinched its first ever windfarm project work in the Asia Pacific region. LOC in Korea has been jointly appointed by reinsurers Swiss Re and Korean Re as the marine warranty surveying service provider for the Tamra Wind Farm project.
ABB’s newly launched Azipod propulsion unit is said to be up to 10 percent more efficient than previous versions. ABB hopes to expand the appeal of the podded electric propulsion system beyond established markets with its improved efficiency and bollard pull.
Siemens announced it has been awarded a contract to equip the first new build cruise liner for the British based operator Saga Cruises under contract to Meyer Werft in Papenburg. The awarded package includes a SISHIP eSiPOD propulsion system as well as a power and distribution plant
Hong Kong flagged bulk carrier Five Stars Fujian has been banned from Australian ports for 12 months once it was discovered that the vessel lacked sufficient provisions for its intended voyage and the crew had not been paid in several months.
Mont Hope Ship Management, a new and specialized company focusing on services for vessels engaged in energy segments, is implementing DNV GL’s integrated software system ShipManager on the entire fleet in order to optimize operations and improve performance.
The Akademi Maritim (AKMI) Suaka Bahari Cirebon has selected VSTEP for the supply of one DNV Class A FMB Simulator to train its students in accordance with the latest IMO requirements and model courses. On August 22, 2016, VSTEP and its local distributor PT Megatech Mandiri Setia have been
i-Tech's CEO Philip Chaabane is intent on keeping hulls clean, one barnacle at a time. Please provide a brief personal/professional background, with insight on how you’ve come to occupy the CEO seat at I-Tech. I have a Swedish and French MSc in Engineering and have spent some six
DryShips Inc., owner of drybulk carriers and offshore support vessels, announces deleveraging transaction and vessel sale. It has reached an agreement with Sifnos Shareholders Inc. (sifnos) to convert $8.75 million of outstanding principal amount
Norway's Statoil will supply small-scale liquefied natural gas (LNG) to terminals in the Baltic Sea through Lithuania's Klaipeda LNG terminal, a company official said on Thursday. The move comes after the energy firm signed an agreement on Thursday with Litgas and Lietuvos Duju Tiekimas