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.
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
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
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
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
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
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)
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
The job’s not over until the paperwork is done. Done correctly. When an accident occurs on one of your vessels, an accident investigation is necessary. As safety is our primary concern, it is important to determine what happened, how it happened and how we can prevent it from happening in the future. Although determining how to prevent a future accident is important, it is also important to be responsible while generating documents as the process unfolds
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.
Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the south of the country with an initial investment of $ 733 million . In a unanimous ruling
India's Reliance Industries Ltd said it will source 1.5 million metric tons of ethane a year from the United States as feedstock for its crackers in India. The company has executed storage and capacity agreements for liquefaction and export of ethane with a North American terminal
Norway's Statoil shut oil and gas production at its Troll C platform in the North Sea after inspections found corrosion damage on a pipeline, the company said in a statement on its website on Wednesday. The platform was shut on Sunday and the repair is expected to take seven days, Statoil said
China rejected Philippine complaints on Wednesday about Chinese survey vessels operating in a gas-rich area of Manila's exclusive economic zone, and has lodged a separate complaint about the detention of Chinese workers, as tensions persist.
The Bureau of Ocean Energy Management (BOEM) Gulf of Mexico Regional Director John Rodi will open the Gulf of Mexico Western Planning Area Lease Sale 238 at 9 a.m. CDT on Wednesday, August 20, 2014 at the Mercedes-Benz Superdome in New Orleans.
Cultivating next generation of leaders from head office and overseas subsidiaries, promoting management skills to drive future innovation. Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company launched a program on August 4 to train candidates for the next-generation of
Liquefied Natural Gas Limited has advised that the U.S. Department of Energy has revised procedures that could result in faster approval of applications to export LNG to non-Free Trade Agreement (Non-FTA) countries. The company had in October 2013 applied for approval to export 8
Chinese rig builder Honghua Group has been awarded a contract by Orion Engineering and Management Ltd to build a semi-submersible drilling rig, with options to build three more. According to a statement released by Honghua, the rig deal worth US$320 million was signed by its offshore
Colombia awarded a 2.5 trillion peso ($1.33 billion) contract to a consortium led by Brazil's Odebrecht SA on Friday to improve navigability on the Magdalena River, which the Andean nation has long planned to exploit for cargo transport. Odebrecht will have an 87 percent stake in the joint
Germany's Hapag-Lloyd's said it expected operating profit to drop considerably this year after tough competition in container shipping dragged freight rates lower in the second quarter. The company, partly owned by TUI AG, posted a second-quarter operating loss of 73.7 million euros ($98
Portsmouth Shipbuilding Group was set up in the wake of the decision made by BAE Systems last year to relocate its shipbuilding division to the Clyde, in Scotland, a move that put hundreds of jobs at risk, reports ‘The [Portsmouth] News'.
BMT WBM (BMT), a subsidiary of BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, has provided critical inputs to the Environment Impact Statement (EIS), in the areas of flooding, water quality and coastal processes for the A$ 8
China appeared to rebuff pressure from the United States to rein in its assertive actions in the South China Sea on Sunday as Southeast Asian nations declined to overtly back Washington's proposal for a freeze on provocative acts. * ASEAN communique urges self-restraint from all parties
The anti-submarine force of the Northern Fleet of Russia detected a foreign submarine in the border waters and "expelled", Russian news agencies reported on Saturday, citing an unnamed spokesman of Staff Russian navy. A foreign submarine
Gabon's oil ministry said on Friday it had signed seven oil contracts with six companies as part of an offshore licensing round expected to attract at least $1.1 billion in investment to the sector. "(We) proceeded on August 8 with the signing of seven oil contracts with the companies