Tanker operator Stelmar Shipping said it was ready to revive talks with Bermuda-based First International to buy six petroleum tankers once the latter is free of an ownership dispute. "Yes, we're there to talk again, and would be interested in talking again for sure," a top Stelmar official said. Stelmar and First International reached a $140 million deal for the ships last year but it fell through in October when First International became embroiled in a bitter legal dispute with a minor lender. The tanker fleet has since become ensnared in a fresh dispute, this time between First International and bondholders, which provided most of the $257 million to build the fleet. Stelmar listed in New York in February, with the purpose of raising funds to buy 10 products tankers from Osprey Maritime; a deal with First International would swell the fleet to 28. "It's no secret that Stelmar's in the business of growing its product tanker fleet, and assets like that are not always on the market," the official said. "We're going to have to start again, because we're a different company. We've moved on since then (the first deal)." Both First International and investment fund bond holders have asked a New York court to decide in coming weeks which of them controls the future employment of the six tankers.
Xtreme Companies, Inc. manufacturer of mission-specific Fire-Rescue and Patrol boats, announced the delivery of its subsidiary 'First Responders Inc.'s' first ever international sale. The XFR.F.12 fire-rescue boat was delivered to Xtreme's Taiwanese distributor Shuanyi Industry Company LTDC two weeks ahead of schedule. Xtreme CEO Kevin Ryan stated, "It was extremely important for us to deliver our first international boat sale ahead of schedule. Shuanyi has
The first international Conference on Light Weight Structures will occur September seven through 8, 2009, in Glasgow, UK. Cost savings is one of the criteria for successful structural engineering and transport application. The use of strong but light-weight members helps to achieve this in that the overall stress levels in a construction are reduced together with handling, manipulation and pay-load cost. These factors are important in such applications as ships
The first International Conference on Light Weight Marine Structures will occur September 7-8 2009, in Glasgow, UK. Cost savings is one of the criteria for successful structural engineering and transport application. The use of strong but light-weight members helps to achieve this in that the overall stress levels in a construction are reduced together with handling, manipulation and pay-load cost. These factors are important in such applications as ships
Nippon Kaiji Kyokai (ClassNK) announced the official opening of a new surveyor office in Cardiff, U.K. The new office becomes the fourth new office to be opened by the Society this year, following the establishment of new offices in Malaysia, Syria, and Peru earlier this month. The new Cardiff Office is also the Society’s fourth office to be opened in the United Kingdom joining offices in London, Newcastle, and Milford Haven
The Port of Seattle, along with the Port of Tacoma and Port Metro Vancouver, implemented the first international ports clean air program in 2008, & now releases their DRAFT 2013 strategy. Agency partners include U.S. Environmental Protection Agency, Puget Sound Clean Air Agency (PSCAA), Washington Department of Ecology, and Environment Canada. Named the Northwest Ports Clean Air Strategy, this collaborative program seeks to:
When Nor-Shipping 2003 opens its doors on June 3 to the 19th shipping trade fair, nearly 1,400 exhibitors with close to 6,000 individuals representing more than 30 nations, will dominate the large new exhibition and congress center in Lillestrøm, which is just outside the city center The predecessor to the Nor-Shipping trade fair - an exhibition called Dekk og Dørk (Deck and Engine Room) — was held for the first time in the beginning of the 1960's
The International Labor Organization (ILO) campaign for minimum standards at work for seafarers has received an important boost with the forthcoming entry into force of two key international labor standards governing hours of work and the right to inspect ships. The 1996 Protocol to Convention No. 147* is set to make an international legal precedent as the first international instrument to allow countries to inspect ships purely because of concerns over seafarers' hours of work
Genoa-based classification society RINA has been authorized by the U.S. Coast Guard to conduct plan review and approval and initial and subsequent surveys for U.S.-flagged cargo and passenger vessels. Under the agreement signed yesterday, RINA has received delegation for Load Line, SOLAS, MARPOL, ISM, and Tonnage survey and certification services. The MOA delegating authority and establishing guidelines for co-operation between the USCG and RINA was signed at Coast Guard Headquarters in
The Panama Canal Authority (ACP) hosts the first International Maintenance Congress, focused on developing a business culture of profitability, maintenance & sustainability. Experts from United States, Chile, Costa Rica, Colombia, Mexico, Brazil, Uruguay and Panama participate in the 16, January 2013 congress held in the Ascanio Arosemena Training Center through January 18, 2013. The congress will develop three main topics: reliability and maintenance
Aiming to help deepen United States’ maritime partnerships with India, U.S. Chief of Naval Operations Adm. John Richardson will make his first visit to India February 2 through February 6. Richardson’s first stop will be in New Delhi
India’s naval might was on full display off the coast of Visakhapatnam today (Saturday) as President Pranab Mukherjee reviewed the naval fleet. Mukherjee, the Supreme Commander of the Armed Forces, was accompanied by Prime Minister Narendra Modi and Defence Minister Manohar
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 quarter and nine months ended December 31, 2015. Consolidated total income including other income increased by 15% to
Russian oil producer Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, it said on Wednesday. It is Rosneft's first individual international offshore drilling project as an operator, Russia's largest oil producer said in a statement.
Royal Australian Navy frigate HMAS Newcastle has arrived in the Middle East Region and has commenced her first patrol as part of Operation MANITOU after officially joining the operation on May 1, 2015. Newcastle departed for her first patrol as part of a six-month rotation that will see
The first international Hybrid Marine Power & Propulsion Conference will be held at the RNLI Lifeboat College, Poole UK from October 6-8, 2015. Shock Mitigation will bring together an international group of experts, armed with the latest knowledge that will identify the potential
In 2015 two significant developments are going to make many operators, owners and builders of professional vessels consider hybrid marine power. Firstly the new emissions laws in ports, and secondly there is now an incentive for high technology manufacturers to invest in developing highly
The first international container ships began arriving in Iran this week after the nuclear deal between Tehran and world powers, yet many ship owners remain wary of resuming business until sanctions are removed - still some months away. Iran had depended on foreign ships for much of its imports
China is building its first international undersea cable that will carry information and data flow between the country and the ASEAN nations, says Xinhuanet. Its also setting up Information Harbor for the 21st Century Maritime Silk Road.
The low oil price and a reduction in newbuilds have driven the integrity of existing assets up the agenda for the oil & gas industry. However, the cost of inspection programs can be significant, adding to the operational costs. DNV GL has now launched a recommended practice
Could bolster claims by other countries against China; China boycotting proceedings, rejects court's authority. The Philippines asked global judges on Tuesday to recognise its right to exploit waters in the South China Sea, a case that could bolster territorial claims by other countries against
Adani Ports and Special Economic Zone Ltd, (APSEZ), India’s largest port developer and part of the Adani Group, today formally began development of India’s first ever and ambitious international transhipment project in Vizhinjam, Kerala
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra
* Iranian insurers see tie-up interest from foreign players * Local insurance market worth $7.4 bln in premiums * Iranian players seeking credit ratings to help partnerships * Caution remains over U.S. restrictions still in place By Bernardo Vizcaino and Carolyn Cohn
The SENER engineering and technology group will celebrate its sixtieth anniversary in 2016. It has grown into a multidisciplinary international group which offers solutions in Aeronautics, Engineering and Construction, and Energy and Environment.