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Panama Canal Case Headed to Arbitration

Picture Credit: Panama Canal Authority.

 The Panama Canal Authority (PCA) and the consortium building a third set of locks for the inter-oceanic waterway said in separate statements that they will take a dispute over cement quality to international arbitration.   The PCA has asked for an international arbitration panel to review a decision to award US$233 million to the consortium expanding the canal in a dispute over cement quality.   The consortium, led by Spain's Sacyr and Italy's Salini Impregilo, and including Belgium's Jan de Nul and Panama's CUSA, said in January it had won US$233 million of the US$463 million it claimed in the dispute.   In the latest chapter of an often thorny relationship between the authority, known as the ACP, and the Grupos Unidos por el Canal consortium (GUPC), the latter said Tuesday it has filed a request for international arbitration as it seeks an award of $345 million.   The request for arbitration comes 56 days since the issuance of a decision by a panel created by the contractor and the Canal Authority to resolve disputes. Under the terms of the contract, both sides have the right to appeal the decision of the panel to the court of arbitration.   Arbitration is the last resort of the mechanism established in the contract for the design and construction of the new locks. It will be held in Miami.  


Mideast Crude Tanker Earnings Slip, Ukraine Watched

By Jonathan Saul, Reuters Crude oil tanker earnings on the major Middle East route fell on Tuesday as a build up of vessels available for hire weighed on rate sentiment. Shipping markets continued to monitor developments in Ukraine after Russia sent military forces into the Crimea region of southern Ukraine. Russian President Vladimir Putin said Moscow would only use military force in Ukraine as a last resort. A U.S. official said it was ready to impose economic sanctions on Russia.


New Maritime Exhibition Planned

Cyprus’ MIE Group, Limassol, is arranging an exhibition of marine equipment managers and services (East Med Marine Exhibition) during 7-8th April next year (2005) at the Hawaii Grand Hotel & Resort, Limassol. Backed by the Cyprus Minister of Communications and Works, the exhibition will not only have exhibitors that use MIE as their agent in Cyprus, but also other marine equipment and service companies. Some 45 companies have already signed up for this exhibition


Final Designs, King Abdullah Sea Port

KAEC+Port_web.jpg

Emaar, the Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has revealed the final blueprints of the KAEC Sea Port, designed in coordination with Halcrow, the international consultancy specializing in the provision of planning, design and management services for maritime projects. One of the six key components of the 168 million sq m KAEC, the Sea Port will be the largest in the Red Sea with a capacity to handle 20 million TEU (twenty ft


Marauder Fired on by U.S. Fleet Tanker

USNS Rappahannock: Photo credit USN

A small motor vessel fired on in the Persian Gulf after ignoring warnings to keep away from 'USNS Rappahannock' The incident occured near Jebel Ali, United Arab Emirates. In accordance with Navy force protection procedures, the sailors on the USNS Rappahannock (T-AO 204) used a series of non-lethal, preplanned responses to warn the vessel before resorting to lethal force.
 The U.S. crew repeatedly attempted to warn the vessel's operators to turn away from their deliberate approach


Hurricane Blanca Weakens off Mexico, Still Headed for Resorts

Hurricane Blanca Photo NOAA

  Hurricane Blanca weakened to a category 1 storm on Friday but is still expected to hit Mexico's Baja California peninsula on Sunday, the U.S. National Hurricane Center said. Blanca, the second hurricane to form off Mexico's Pacific coast this year, is about 330 miles (531 km) southwest of the major port of Manzanillo, with maximum sustained winds of 90 miles per hour (145 km), the Miami-based NHC said in a report.


World's First Floating Resort Scheduled To Set Sail In 2001

The world's first ocean-going luxury resort is scheduled to be afloat late in 2001 now that Bahamas-registered ResidenSea has secured financing and found a builder, company officials said. The vessel for the rich, dubbed The World of ResidenSea, was conceived four years ago by Norwegian cruise magnate Knut Kloster Jr. "After four years of an uphill struggle...we have finally made it," Henning Oeglaend, chairman of the board of ResidenSea


Sub to Probe Sunken Ship

Greek rescuers will deploy a robot submarine to search for the bodies of two French tourists believed to have drowned when a cruise ship sank off a resort island in the Aegean Sea last week, reported the Houston Chronicle. The ship's captain blamed the accident on sea currents that swept the Sea Diamond onto a charted reef off the island of Santorini, tearing a hole in the ship's hull. According to reports, more than 50 tons of the ship's fuel leaked after the sinking


Ottawa to Mulls Banning U.S.-bound Tankers from N.B. Waterway

The Canadian Press reported that federal politicians say Canada is considering regulations to ban liquefied natural gas supertankers from a sensitive waterway in the Bay of Fundy, risking renewed territorial tensions with the United States. Maxime Bernier, Canada's new minister of foreign affairs, assured a citizens' group on Sunday that Canada is opposed to the prospect of LNG supertankers navigating the treacherous waters that lead into Passamaquoddy Bay between Maine and New Brunswick


Storm Carlos Moves West, Nearing Mexican Pacific Port

Tropical storm Carlos threatened Mexico's Pacific coast with heavy rain on Monday as it churned west near the port of Lazaro Cardenas, and it is forecast to become a hurricane again by early Tuesday, the U.S. National Hurricane Center said. Early on Monday, Carlos was 75 miles (121 km) south of Lazaro Cardenas, blowing maximum sustained winds of about 70 miles per hour (113 kph) with higher gusts, and moving west-northwest at around 6 mph (10 kph), the Miami-based NHC said.


‘RASI’ Charity Rowers ‘Smashed It’ Round Singapore

Courtesy RASI

  Charity endurance event ‘Row Around Singapore Island (RASI)’ beats electrical storm and finishes with time triumph, high emotion and VIP celebrations at the finish line. ‘Mission RASI’, took place last week as part of Singapore’s 50th Anniversary


Windstar Debuts All Suite Power Yacht

Star Breeze

  Today at a christening ceremony in Nice, France, Windstar Cruises debuted Star Breeze, the second of the fleet’s three new all suite power yachts. The christening ceremony and pier-side champagne celebration mark the luxury yacht’s introduction to the Windstar fleet


More Ferry Services between Johor and Singapore

Image: Changi Point Ferry Terminal

 As agreements was signed between Singapore and Malaysia to boost the number of ferry trips between Changi Ferry Terminal, Singapore and Tanjung Belungkor in south-eastern Johor, Malaysia.   The memorandum of understanding (MOU) signed was between Singapore's Maritime and Port


Tunisia Rescues 350 Migrants Heading to Italy from Libya

Tunisia's navy rescued more than 350 illegal migrants off its coast and was searching for hundreds more on Wednesday after they tried to sail from neighbouring Libya to the Italian island of Lampedusa, the local Red Cross said.   Boat smugglers often use Tunisia's proximity to the Italian


North American Rig Counts Continue Decline

The number of U.S. oil and gas rigs declined by 48 last week, according to data released today by Baker Hughes, which shows the number of U.S. rigs is now down to 1,310, a decrease of 461 from a year ago and the lowest since January 2010.  


Dredging Project to Protect Virginia Shoreline

Dam Neck Annex at Naval Air Station Oceana, Virginia Beach, Va. Navy photo

Outer Continental Shelf sand will protect infrastructure, restore dunes and habitat   The U.S. Bureau of Ocean Energy Management (BOEM) and Naval Air Station Oceana at Dam Neck, Virginia, expect to begin a shore protection project at the Dam Neck annex within the next month.  


Holland America Floats out Koningsdam

Koningsdam (Holland America Line)

 Holland America Line's new ms Koningsdam is set to be delivered March 31, 2016. This week the ship was transferred from its dry dock to its outfitting dock at Fincantieri’s Marghera shipyard in Italy, where the final construction and interior furnishings will take place.  


Former Norwegian Cruise Line CEO sues Virgin Group

The former chief executive of Norwegian Cruise Line Holdings Ltd sued Richard Branson's Virgin Group in federal court in Miami for $300 million on Wednesday over plans by the British billionaire to launch his own luxury cruise line.  


Egypt Woos Investments in Suez Canal

Suez Canal (by Suez Canal Authority)

 With Legislative Reform Committee giving the go-ahead for the suggested Suez Canal Project regulatory legal frame work, Egypt is offering investors massive projects worth billions of U.S. dollars for the development of the Suez Canal region.  


Tight Budget Hampers Malaysia's Naval Ambitions

Budget constraints are jeopardising Malaysia's defence spending plans, which include replacing ageing fighter jets and beefing up its maritime capabilities, at a time when Beijing is growing more assertive in the disputed South China Sea.  


PDVSA's Oil Exports to Asia, Americas Fell in 2014

Venezuelan state oil company PDVSA's exports to Asia and the Americas fell last year though shipments to Europe increased, according to a preliminary government report issued this month.   The OPEC country's Oil Ministry did not explain the overall drop in exports in its report to Parliament


Hundreds Return in Philippines, Typhoon Weakens

Hundreds of people in the north of the main Philippine island of Luzon left evacuation centres and returned home on Sunday after a typhoon weakened significantly as it made landfall, although officials still warned of heavy rain and rough seas.


Navy League Honors Retired Ingalls President

Irwin F. Edenzon (center) accepts the Fleet Admiral Chester W. Nimitz Award from Rep. Randy Forbes (left) and James H. Offutt, national president of the Navy League of the United States, Tuesday night in National Harbor, Maryland. Photo courtesy of the Navy League of the United States

Irwin F. Edenzon, the retired president of Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division, accepted the Navy League of the United States' Fleet Admiral Chester W. Nimitz Award last night. The Navy League presented the award at the annual Sea-Air-Space Black Tie Reception and


Murmansk Region Head for Zoning Arctic Territories

Courtesy Arctic Info

  Murmansk Governor Marina Kovtun, at the first meeting of the State Commission for the development of the Arctic has proposed a change to the system of energy pricing for the Murmansk region and zoning of marine areas. The authorities of the Murmansk region linked the successful


APSEZ Ports Cargo Handled Up 28%

Adani Ports and Special Economic Zone Ltd (APSEZ) is part of Adani Group – a $9.4 billion conglomerate with businesses spanning coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, power gen

  Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the fourth quarter and year ended March 31, 2015. Consolidated cargo across all ports handled by the company was






 
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