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.
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.
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.
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
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
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
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
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
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
The team of Japanese experts who flew into the country to help assess the the damage caused by the sinking of the M/T Solar 1 and the resulting oil spill said oil continues to leak out from the tanker, a statement from the Japanese embassy said Tuesday. In Guimaras, President Gloria Macapagal-Arroyo ordered Transportation and Communications Secretary Leandro Mendoza to conduct a full-blown inquiry into the August 11 sinking
Press release - Italy-based classification society RINA has launched a series of new services and standards aimed at helping the growing global yacht industry to grow efficiencies and reduce its environmental footprint. The five new services being rolled out in the last quarter of 2015 are a
A total 336 ships transited the canal last week, carrying a total cargo of 19.5m tonnes, reports Daily News Egypt quoting new data from the Suez Canal. The average number of ships transiting the canal daily reached 48 throughout last week, with average cargos amounting to 2
It is nighttime on a beach near the resort town of Bodrum and a group of migrants look out nervously at two ships on the horizon, wondering if they can slip past the Turkish coastguard and cross the Aegean Sea into a new life in Europe.
Twenty-two migrants drowned and 200 more were rescued when a boat capsized in the Aegean Sea off the Turkish coast while trying to reach the Greek island of Kos on Tuesday, the Turkish coastguard said. A total of 211 immigrants were rescued from the boat while divers recovered the bodies of 22
A ferry enroute to South Ari Atoll (Alif Dhaal atoll) Maamigili from the capital Male has capsized leaving all the passengers onboard stranded at sea. Around 80 passengers had reportedly been on-board including women and children
Energy ministers from the Asia-Pacific Economic Cooperation (APEC) group will discuss climate change and business opportunities at a meeting in the Philippines next month but not the South China Sea. China claims most of the potentially energy-rich South China Sea
Donegal fishermen are counting their lucky stars after a near-miss with a submarine last week. A shocked fisherman has described his close encounter with a submarine, which emerged from the water 200 yards away from his boat.
At least 12 people believed to be Syrian refugees drowned as two boats sank after leaving southwest Turkey for the Greek island of Kos on Wednesday, a senior Turkish naval official said. The two boats, carrying a total of 23 people, had set off separately from the Akyarlar area of the Bodrum
Chinese sailor Guo Chuan intends to make it world’s quickest Northern Sea Route trip from Murmansk to the Bering Strait in 14 days without engine power. His trimaran “Qingdao China" is docked in Jarfjord outside Kirkenes, Norway
U.S. Coast Guard (USCG), Sturgeon Bay dedicate service's last operational 41-foot utility boat during ceremony at Door County Maritime Museum Representatives from U.S. Coast Guard, the city of Sturgeon Bay and the Door County Maritime Museum dedicated the Coast Guard’s last
A U.S. government weather forecaster on Thursday warned that much-watched El Nino conditions are likely to last another nine months, potentially roiling global crops and commodities prices. The National Weather Service's Climate Prediction Center projected a more than 90 percent chance that El
The ports of the Estonian state-owned port operator Tallinna Sadam (Port of Tallinn) handled in June 1.68 million tonnes of cargo and serviced 1,045,461 passengers. Compared to the same period last year, the cargo volume dropped by 25% while the number of passengers was by 1
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.
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
United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on navigation in polar waters become effective from 1 January 2017. The IMO has taken the very last step towards making the