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Issues Statement

ClassNK Certifies More Indian Ship Recyclers

Classification society ClassNK has issued Statements of Compliance (SoC) to two ship recycling facilities in Gujarat, India, Shree Ram Vessel Scrap Pvt. Ltd and Leela Ship Recycling Pvt. Ltd, verifying that the facilities are in line with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (HKC).   Although the HKC has yet to enter into force, Shree Ram and Leela have both carried out substantial improvements to their facilities in a bid toward safer and greener ship recycling as well as developed the Ship Recycling Facility Plans (SRFPs) required for a competent authority’s certification according to the HKC, according to the class society.   ClassNK reviewed the SRFPs prepared by Shree Ram and Leela, which comply with requirements of the HKC, and confirmed that their ship recycling processes follow their respective SRFPs in addition to conducting on-site inspections before issuing the SoC.   The SoC are issued based on purely technical verifications of the facilities by ClassNK, which has so far done the same for ship recycling facilities around the world.


China Slams G7 on Maritime Disputes

Photo: Council on Foreign Relations

 China reacted with anger Tuesday after the Group of Seven foreign ministers released a statement a day earlier voicing strong opposition to “unilateral actions” in the East and South China seas.   "China is strongly dissatisfied with relevant moves taken by G-7," Chinese Foreign Ministry spokesman Lu Kang said.   His statement added: “We urge the Group of Seven member states to honor their commitment of not taking sides on issues involving


Marad Responds to Labor Critics

U.S. Maritime Administrator David Matsuda

The U.S. Maritime Administration issued a Report Comparing U.S. and Foreign-Flag Operating Costs. The U.S. maritime labor union(s) responded with pointed criticism. Marad issues its own statement in reponse.   Text of Marad Chief Matsuda's Prepared Statement: “The U.S. Maritime Administration’s top priority is to promote the growth and sustainability of America’s maritime industry. The first-of-its-kind ‘Comparison of U.S


Recently Acquired Dockwise Did Well in 2012

Dockwise publish audited annual accounts for 2012, having earlier published an unaudited version. The unaudited 2012 results were first disclosed as part of the publication by Dockwise of the Q4 2012 results on 13 February 2013. Performance highlights: Revenues USD 539 million Adjusted EBITDA USD 181 million Adjusted Net Profit USD 40 million Fleet Utilization 74% As indicated in the position statement of Dockwise regarding the mandatory cash offer by Boskalis for


Two Indian Shipbreakers Deemed HKC Compliant

Photo: Priya Blue Industries

ClassNK issues Hong Kong Convention Statements of Compliance to two ship recycling facilities in India    Two ship recycling facilities in Gujarat, India, R. L. Kalthia Ship Breaking Pvt. Ltd. and Priya Blue Industries Pvt. Ltd., have received Statements of Compliance (SoC) from classification society ClassNK verifying that the facilities are in line with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (HKC).  


U.S: No ASEAN South China Sea Consensus is Telling

The inability of a forum of Southeast Asian defence ministers to agree on a joint statement at the end of a forum on Wednesday reflects their concern about China's activity in the South China Sea, U.S. Defense Secretary Ash Carter said. "It was clearly an issue of discussion and an issue of concern by countries in the meeting, because everybody raised it," Carter told a news conference. The Association of South East Asian Nations held its defence ministers meet this week


Hornbeck Offshore Files Shelf Registration Statements

Hornbeck Offshore Services, Inc. has filed a universal shelf registration statement on Form S-3 and an acquisition shelf registration statement on Form S-4 with the Securities and Exchange Commission. Once declared effective by the Securities and Exchange Commission, the universal shelf on Form S-3 will enable the Company to sell from time to time, in one or more public offerings, up to $350 million of its common stock, preferred stock, debt securities or warrants to purchase common stock


USACE Issue Impact Statement on Ecosystem Restoration Project

The US Army Corps of Engineers issued a notice stating that the draft integrated feasibility report and environmental impact statement for the Mid-Chesapeake Bay Island Ecosystem Restoration Project is available for consideration. Public meetings will be held in Cambridge (October 11) and Taylors Island, Maryland (October 12). Written comments should be submitted by October 23. 71 Fed. Reg. 53090


Aker Takes Major Stake In Kvaerner

Aker Maritime has acquired control of about one fourth of Kvaerner for a reported $350 million (3 billion crowns). The purchase made the industrial holding firm, a group of companies operating in more than 20 countries with no previous Kvaerner ownership, the biggest shareholder in Kvaerner. "Aker Maritime ASA has today bought rights issues, shares and options in Kvaerner ASA which together amount to 26.39 percent of the company after the ongoing rights issue


China Clarifies Maritime Jurisdiction

Photo: Council on Foreign Relations

 The Supreme People's Court (SPC) on Tuesday issued a regulation of judicial interpretation to clarify China's jurisdiction over its territorial seas, reports Xinhua.   "Judicial power is an important component of national sovereignty," said the statement, adding, "People's courts will actively exercise jurisdiction over China's territorial waters, support administrative departments to legally perform maritime management duties


Libyan Oil Output Rises after Port Fighting Ends

Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports.   "We are working very hard to reach 800,000 barrels by the end of April 2017, and


Diana Containerships Launches USD 150 Mln Securities Offering

Photo: Diana Containerships Inc

 Diana Containerships, a global shipping company specializing in the ownership of containerships, announced today that the Company has entered into a Securities Purchase Agreement with Kalani Investments, an entity organized in the British Virgin Islands (Kalani) that is not affiliated with


Top LNG Buyers Form Alliance to Push for Flexible Contracts

© akiyoko / Adobe Stock

The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers.   Korea Gas Corp (KOGAS) said on Thursday it had signed a memorandum of understanding in mid-March with


Statoil Wins Licences Off UK, 'Resets' Exploration Off U.S.

Norway's Statoil was the second top bidder for 13 oil exploration leases in the U.S. Gulf of Mexico and won six licences offshore Britain, it said on Thursday, in a sign it may be looking to boost reserves after slashing costs. "The importance of oil companies' ability to replenish


US Probe into El Faro Disaster Concludes Public Hearings

Photo: NTSB

U.S. investigators stood in silence for 33 seconds on Friday as they concluded the public phase of a probe into the sinking of the El Faro cargo ship during a 2015 hurricane, recognizing each crew member aboard who died.   The Coast Guard's Marine Board of Investigation


IBIA in Attack Mode

Bunker fuel company staff supervising supply operations at port [Photo: ©2016 Patrick King Photo for GAC]

IBIA Attacks IMO Low-Sulfur Fuel Proposals; Association says 2020 decision may be based on overly optimistic fuel availability forecast   The IMO’s MEPC 70 proposals for a marine fuels sulfur cap of 0.5% to be in place by 2020 have attracted severe criticism from several major


Hapag-Lloyd 2016 Profit Dips on Weaker Box Rates

File photo: Hapag-Lloyd

FY operating profit down 66 pct and freight rates down 15.4 percent in 2016. Company says merger benefits, cost cuts help.   German container shipping firm Hapag-Lloyd on Tuesday reported a 66 percent year-on-year fall in operating profit for 2016


PetroChina Dalian Refinery Exports First Australian-spec Diesel Cargo

PetroChina's Dalian oil refinery exported on Feb. 27 a 40,000 tonne cargo of diesel fuel with that met Australian fuel quality specifications, the first shipment of its kind from China, according to a statement posted on the website of the state assets regulator on Monday.


Royal Caribbean cuts South Korean Ports from China Cruises

Royal Caribbean Cruises Ltd will remove visits to South Korean ports from its China cruises, the firm said in a statement, amid rising tension between the two countries over Seoul's deployment of a U.S. missile defence system.   In a post on its Chinese website, the U.S


Shreyas Shipping Acquires Balaji Shipping

Image: Transworld

 India’s Shreyas Shipping and Logistics has approved plans for its subsidiary Shreyas Relay Systems (SRS) to acquire 99.9% of Balaji Shipping Lines from Transworld Holding (TWH).   Shreyas Shipping said that consequent to the said issue


N.Korean Ship sinks off China, All Rescued

A North Korean cargo vessel called Kum San sank off the east coast of China early on March 9 after colliding with a Chinese fuel tanker, which rescued 27 crew members, the Ministry of Transport said in a statement on Monday.   The collision took place near the port of Lianyuanhang in


One Dead, Three Missing in Helicopter Crash off Irish Coast

One person died and three were missing after a Sikorsky S-92 helicopter crashed off the coast of Ireland during a rescue operation, the Irish Coast Guard said on Tuesday.   The search-and-rescue helicopter, which was assisting another aircraft with a medical evacuation from a fishing vessel


Borr Drilling Scoops up Transocean Rigs for $1.4 Bln

   Borr Drilling, founded by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water drilling rigs for $1.35 billion.   The rig market deal is Borr's biggest since it was set up last year by Tor Olav Troeim and other executives who


Emas Offshore Braces for Ezra’s Bankruptcy

Lee Kian Soo, Executive Chairman Photo: EMAS Offshore

 The EMAS Offshore (EOL) board of directors warns that the Chapter 11 filing of parent company Ezra Holdings  may negatively impact EOL and its subsidiaries, which could possibly lead it to face a going concern issue. EMAS Offshore Limited is a subsidiary of Ezra Holdings Limited


Maersk Reaches Key North Sea Tax Deal with Denmark

File photo: Maersk Oil

Shipping and oil company A. P. Moller-Maersk on Wednesday reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025.   The deal, which has been under negotiation for months






 
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