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Management Statement

Braemar Shipping Interim Management Statement

Braemar Shipping Services plc isued its Interim Management Statement in relation to the period since the six months ending 31 August 2009. The group has benefited from a dry bulk market which has been stronger than many expected during much of 2009, particularly in the latter part of the year. This has mainly been due to the continuing high demand from China, and to a lesser extent India, for the import of raw material which has been sufficient to absorb the arrival of new tonnage and for the return of port congestion.  Braemar has also benefited from a good level of sale and purchase activity and demolition broking remains extremely active as the scrapping of older ships, particularly in the container and tanker sectors, continues to grow. For much of 2009 the tanker market rates have been weak due to lower global industrial energy demand and the impact of newbuilding deliveries. But there has been some improvement in rates in recent months and the Group’s transaction numbers remain strong. Additionally, Braemar’s specialised tanker team has won some important new business in recent weeks and the Group is growing its presence in the wet FFA (Forward Freight Agreement) market. The established Technical, Logistics and Environmental divisions are all performing in line with expectations.


Braemer Shipping Interim Management Statement

Braemar Shipping Services plc issued an Interim Management Statement in relation to the period since the six months ending 31 August 2008: “Shipping markets have experienced a significant correction over the past four months and in varying degrees dry and wet freight rates and vessel values are sharply lower, mainly in response to the slowing global economic demand and the significant contraction in the availability of bank lending


St. Lawrence Seaway Annual Report Available

The St. Lawrence Seaway Management Corporation (SLSMC) issued a statement that the 2002-2003 Annual Report is now available. Including both a narrative text and financial summary, the annual report also mentions that the SLSMC's new business plan increases maintenance expenditures by 36 percent over the next five years. Source: HK Law


MERPAC Meeting

A working group of the Merchant Marine Personnel Advisory Committee (MERPAC), sponsored by the U.S. Coast Guard, will meet in Washington, DC on March 21 and 22. The purpose of the meeting is to discuss task statement #47 concerning recommendations on knowledge and practical qualifications for engineers at the operational and management levels to serve on steam propelled vessels and task statement #49 concerning recommendations for use of a model sea course project in conjunction with an


Cosco Busan Management Company Charged

A federal grand jury in returned a second superseding indictment charging Fleet Management Limited, a ship management company, with negligently causing the discharge of 50,000 gallons of oil from the Cosco Busan and falsifying documents after the crash to cover-up the company’s negligence, the Justice Department announced today.  Fleet Management, the company responsible for operating the Cosco Busan, was charged with six felony counts for making false statements and obstruction


Braemar: Interim Management Statement

Braemar Shipping Services plc today issues its interim management statement in relation to the period since the announcement of the interim results on 25 October 2011. Over the past few months activity in the Shipbroking division has increased. The Group has seen good levels of spot chartering business particularly in deep sea tankers and in capesize bulk carriers. The specialised tanker chartering desks are also performing well


Zeebrugge Traffic Up 6.6%

Total traffic through Zeebrugge port rose by 6.6 percent to 26.67 million tons in the first nine months of 1999. At the end of the year it expected total traffic to rise to 35 million tons versus 33.4 million tons in 1998. "On the basis of these interim figures we can see that 1999 will be an absolute record year," port management said in a statement, noting that traffic rose by more than 20 percent over the past three years.


Ballast Water Management Changes Proposed

The California State Lands Commission (SLC) issued a Notice of Proposed Regulatory Action relating to management of ballast water on ships of 300 gross registered tons or more arriving in California after having taken on ballast water from places within the Pacific Coast Region. The Pacific Coast Region is defined as coastal waters on the Pacific Coast of North America east of 154°W longitude and north of 25°N latitude, exclusive of the Gulf of California


Cape Wind Energy Project EIS Released

The Minerals Management Service (MMS) issued a notice stating that it has released the final environmental impact statement for the Cape Wind Energy Project.  Comments should be submitted within the next 30 days.  74 Fed. Reg. 3635  (January 21, 2009). (Source: Holland & Knight)


InterManager Salutes Capt. Vanderperre

InterManager, the international association of in-house and third party ship managers, has paid tribute to the life and memory of Captain Charles Vanderperre, the founder of Univan Ship Management and the long-accredited grandfather of modern day third party shipmanagement, who died at the age of 88. In a statement, Guy Morel, General Secretary of the Association, said: “We salute his memory and applaud the work he did in driving forward the development of third party shipmanagement


Libyan State Oil Firm NOC Will Remain Independent

Libya's Tripoli-based state firm National Oil Corp (NOC) will remain independent, it said on Thursday, in an apparent attempt to reassure foreign oil buyers it will stay out of the country's conflict.   Libya has two governments vying for legitimacy which have been trying to control the


USCG Says Unaffected by Cuba Policy Changes

The U.S. Coast Guard (USCG) issued a statement today stating that the United States’ Cuba policy change will not impact its missions annd operations. “Coast Guard missions and operations in the Southeast remain unchanged,” the USCG statement said.


US Shippers, West Coast Dockworkers Union Resume Contract Talks

Photo: Port of Long Beach

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports, a representative for the labor group said.  


Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.   APM Terminals said in a statement Costa Rica's National Concession Council had also issued a


IMO, UN Agencies Address Maritime Migration

Koji Sekimizu (Photo: UNHCR / Jean-Marc Ferré)

The International Maritime Organization (IMO) has joined with other UN agencies in calling for concerted action from the international community to address the problem of the loss of life, injury, trauma and serious human rights violations affecting migrants


Jones Act Gets Staunch Support

  The United States Congress this week enacted the strongest statement of support for the Jones Act and the American domestic maritime industry since the Merchant Marine Act of 1936. The measure was included as part of the National Defense Authorization Act (H.R


Petrobras' Condensed Report for 3Q, 2014

  Petrobras clarifies that it has been decided not to publish the financial statements for the third quarter of 2014 not reviewed by the independent auditors in view of the new incidents, after the day November 13, 2014, relating, directly or indirectly, with Operation Lava Jato, namely:


Petrobras Delays Results as Corruption Scandal Grows

  Brazil's state-run oil company Petroleo Brasileiro SA said it delayed the release of its third-quarter financial results for a second time on Friday as a result of new developments in a widening corruption probe. Prosecutors on Thursday indicted executives of some of the country's


CEZ to Close its Bulgarian Thermal Plant

Thermal Plant

  Czech power utility CEZ will wind down operations of its coal-burning plant in Bulgaria on Jan. 1, after it failed to get an exemption from European Union environmental rules, the company said on Saturday. CEZ had hoped Brussels may allow the plant to continue operations during the


US, UK Navies Plan Future Cooperation

Leaders of the U.S. and British navies agreed on a shared vision for closer cooperation Dec. 11, the culmination of a yearlong effort that will build on a long-standing maritime partnership over the next 15 years.   Chief of Naval Operations Adm


Eni Performs Production Test in Offshore Congo

Photo: Eni

Italian oil and gas group Eni estimated the potential of the Minsala Marine discovery offshore Congo Brazzaville at about 1 billion barrels of oil equivalent, after successfully completing the production test of an exploration well.  


Containership, Fishing Boat Collide; 13 Dead

File photo courtesy of the Suez Canal Authority

Egypt has ordered an investigation into an accident in which a Kuwaiti container ship and a fishing vessel collided in the Red Sea in an incident that killed 13 Egyptians.   A statement from the prosecutor's office said initial enquiries showed the fishing boat capsized after it and the


Bill Secures Funding for US Warship

The United States Senate voted 56-40 to pass bill H.R. 83 which funds the federal government for the remainder of the fiscal year. The funding ensures the construction of a 12th LPD-17 amphibious ship at Ingalls shipbuilding in Pascagoula, Mississippi.  


Saab to Overhaul Swedish Navy Submarine

HMS Södermanland (Photo: Försvarsmakten)

Saab has received an order from the Swedish Defense Materiel Administration (FMV) to overhaul the Swedish Navy submarine HMS Södermanland. The order, valued at SEK121 million, is part of the letter of intent announced on June 9, 2014 regarding Swedish armed forces’ underwater


Chevron Awards North Sea Expansion Contracts

Chevron awarded front end engineering and design contracts for the expansion of its Captain oil and gas field in the North Sea to British suppliers Wood Group and Amec Foster Wheeler, it said on Tuesday. The offshore field, located around 68 miles (109 kilometres)north of Aberdeen






 
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