Cargoships News

Project, breakbulk and heavylift cargo transport company Intermarine, LLC announced that its President & CEO, Andre Grikitis, will be awarded with the Admiral of the Ocean Sea by the United Seaman’s Service (USS) at the organization’s 48th annual gala at the Sheraton New York Times Square Hotel, New York City, on October 13, 2017. The Admiral of The Ocean Sea Award (AOTOS) has been presented annually by United Seamen's Service for the past 47 years. The AOTOS Award is given in…

The Islamic Republic of Iran Shipping Lines (IRISL) plans to become one of the world's top ten shipping lines. It plans to modernize its fleet and ally with international shipping majors to tap western markets , reports WSJ. Mohammad Saeidi, chairman of IRISL said that his company is planning a massive fleet expansion. It aims to re-enter western markets as Tehran exits a long period of sanctions that barred its vessels from calling at European and U.S. ports, the company’s chairman said. The company expects sanctions to be lifted in January under the comprehensive agreement between Iran and the West. It has been away for too long and our priority is to re-enter the international market, he added.

While small in stature at just 760 sq. km. with a population of 1.2 million, the Kingdom of Bahrain, an archipelago in the Persian Gulf just east of and connected by causeway to Saudi Arabia, seeks to grow its stature in the world marine market to become a global maritime and logistics center by 2030. The Arab Shipbuilding & Repair Yard Co. (ASRY), which is central to this success, last month celebrated several key milestones, including the anniversary of its 35th year in business and the opening of its new 1.38km Repair Quay Wall…

International Maritime Organization (IMO) has approved improved shipbuilding standards aimed at passenger and cargoships. The new construction rules, designed to increase a vessel's chance of surviving an accident, were agreed at the IMO's committee on stability and load lines headed by the Australian Maritime Safety Authority (Amsa). The new standards will go into effect in November and will apply to ships with keel laying after January 2009. Among the new rules is one concerning lubricating-oil circulation tanks, which must be kept a minimum distance of 500 millimetres from the keel line of the vessel to prevent the oil escaping in the case of a grounding leading to engine failure. Guidelines for the crew will also advise on how to ensure a vessel survives in an accident.

While it is difficult to find an industry where fierce competition and price wars are not the hallmarks, it seems at times that the ship repair industry has created and patented the formula. Ship repair and conversion yards have weathered years of cut-throat battling, as a slew of new, low-cost competitors regularly make an appearance. The trend is predicted to continue indefinitely. In general, ship repair operations are weathering many of the same financial, corporate and political storms as other major industrial companies. According to Dennis Stonebridge, a shipping consultant for Drewry Shipping Consultants, the forecast revenue for 1998-2003 is likely to fall in total by an estimated 1.5 percent.

Shell is considering a self-imposed ban on single-hulled tankers for cargoes coming through the Bosphorus from the Black Sea. "They're considering demanding double-hulls on any tankers they charter for their cargoes through the Bosphorus," said one London broker. Brokers said that although Shell had a limited presence in the Black Sea, it was expected to expand in coming years. They said BP Amoco, Chevron and TotalFina all had a major presence there. Collisions and shipwrecks are not uncommon in the Bosphorus, a narrow passage winding through Turkey's largest city Istambul and on which commercial vessels are guaranteed free passage during peacetime under the 1936 Montreux Treaty.