HOLIDAY

Warning: Holiday Lights on Vessels

The U.S. Coast Guard issued a safety alert reminding mariners, particularly during the holiday season, to not activate display lights that obscure the required navigational lights, unless operating in a holiday boat parade or when the vessel is secured dockside. Alert 09-09 (12/18/09). (Source: USCG Historian’s Office)

Tanker Trends: Markets Lose Steam During Asian Holidays

Tanker markets cooled as Asian holidays took the steam out of recent strength, but some brokers saw it starting to simmer again last week. Holidays in Japan and Korea this week coincided with the end of most charterers' May programs, brokers said May 5. Approximately 18 VLCC fixtures of five million tons were reported in the Middle East Gulf, down from 22 of six million tons the week before, according to broker E.A. Gibsons

Coast Guard Halts Carnival’s Holiday for Investigation

Coast Guard investigators, a law enforcement boarding team, and the Coast Guard Investigative Service are investigating the cruise ship, Holiday, after three separate breaches of security occurred Monday during the passenger embarkation process. The Coast Guard Captain of the Port New Orleans, Capt. Ron Branch, has ordered the Holiday to remain at the Julia Street Terminal until all passengers and luggage are screened again.

Far East Holidays Cripple Shipbrokers' Forecasts

The panamax market is clouded by the prospect of Far Eastern holidays in less than two weeks, shipbrokers said on Wednesday. Brokers are unwilling to give forecasts beyond April 29 - the start of Golden Week. "We made it through Easter unscathed, but Golden Week is a different matter. Every year we're shocked at the slack trade, it's like we forget how important the Far Eastern market is," a broker said. Inquiry for Pacific basin panamaxes remained slow with modern tonnage hoping for $11

Carnival Reports Financial Impact of Katrina

Carnival Corporation announced that the severe weather caused by Hurricane Katrina and subsequent port closures resulted in the cancellation of one voyage and the shortening of two voyages, as well as other voyage disruptions and related costs, for the company's Carnival Cruise Lines brand. In addition, Carnival Cruise Lines has two vessels, the Carnival Conquest and Sensation, which homeported out of New Orleans. Given the tremendous damage to New Orleans

Korean Stocks Fall, Shipbuilders Lead the Way Down

According to a Reuters report, Seoul shares edged down the day after Christmas as holiday celebrations from a string of positive U.S. data were cut short by lingering doubts on the sustainability of a recovery amidst the unresolved debt crisis in Europe. Losses were led by shipbuilders, seen as most sensitive to economic downswings, with Hyundai Heavy Industries losing 2.36 percent while Daewoo Shipbuilding & Marine Engineering dipped 3.88 percent

Offshore Workers Earn More Paid Vacation

North Sea workers have won an extra 14 days of paid holiday in a tribunal held in Aberdeen, according to a report on www.EnergyCurrent.com. The Offshore Industry Liaison Committee (OILC) and Unite sited the European Union working time directive in the bid to get more vacation for 10,000 offshore workers, including those in subsea, drilling and catering. In a 150-page ruling, the current 26 week field break was deemed compensatory rest for time workers could not take while offshore. (Source: www

Seaway Workers Ratify Contract

The agreement provides for annual wage increases of 3%, 3% and 3.25% over the three-year span of the contract, one additional paid holiday in February, and increases to shift and skilled trade allowances. The contract includes the necessary flexibility for the Corporation to move ahead with the development of new technology, which is expected to improve the system’s productivity and increase worker safety.

Sea Tow Provides Activity/Response Reports

Sea Tow Reports Increased Boating Activity and Calls for Assistance Midway Through July 4th Holiday Week. Incidents Underscore the Need to Follow Commonsense Boating Safety Guidelines.   The extended July 4th holiday has been one of the busiest in recent years for Sea Tow Services International Inc., the nation’s leading on-water assistance provider, and its network of Sea Tow locations across the U.S. This increased activity reflects a growing desire among boaters to enjoy the

Oil Prices Rally On Tight Supplies

Crude oil prices bolted higher early last week as traders returned from a long holiday weekend to indications that exporting countries may extend the supply cuts which have helped double petroleum prices this year. Crude oil for delivery in February closed 46 cents higher at $26.33 a barrel on the New York Mercantile Exchange, but still failed to lift shares of companies such as Exxon Mobil Corp. and Chevron Corp. in stock market trading.