Aker Philadelphia Shipyard, Inc. (APSI), the sole operating subsidiary of Aker Philadelphia Shipyard ASA, announced today that a new four year collective bargaining agreement has been ratified by the Philadelphia Metal Trades Council (PMTC). The PMTC is the exclusive bargaining representative for production and maintenance employees at APSI and consists of ten unions. Mike Giantomaso, Aker Philadelphia Shipyard Vice President of Human Resources remarked, "We are pleased to have successfully ratified this agreement and are very proud to continue our partnership with the PMTC. This contract supports our company's vision of being the leading U.S. commercial shipyard and underscores our objective of being a preferred employer in our communities." President of the Philadelphia Metal Trades Union, Lou Agre, commented "This contract ratification is another example of successful collaboration between union and management, and a clear example of how cooperation keeps organizations moving forward."
Metal Trades, Inc. was contracted by Maybank Industries. LLC to build two new types of double hull barges for the U.S. Navy. Three “YON” fuel barges and one Ship Waste Offloading Barge (SWOB) will be built, each type with identical 6,900 barrel capacity cargo and double hull configurations. The ABS classed barges are being designed by Bristol Harbor Group of Bristol, RI to be 180 feet long and 44 feet wide
The AFL-CIO Metal Trades Department (MTD), representing workers at Aker Shipyard in Philadelphia, has urged the U.S. Coast Guard to investigate the yard's "partnership" with South Korea's Hyundai Mipo Dockyard to determine whether ships Aker is building, specifically a series of ten Veteran Class MT-46 Product Tankers, comply with the requirements of the Jones Act. The Department has also held discussions with key members of Congress to start inquiries on the Hill.
The Metal Trades Department of the AFL-CIO has sued the U.S. Coast Guard over allowing domestic shipyards to use preassembled foreign ship parts and engines, Ron Ault, president of the MTD, said on Tuesday. Preassembled ship parts require little or no assembly at U.S. shipyards, and cut the need for U.S. labor at these yards, he told Reuters in an interview. MTD, a trade department of the American federation of labor unions, coordinates negotiating
CITIC Resources Holdings Ltd said on Tuesday that metal it owns at Qingdao port may be affected by a probe into suspected fraud, the latest firm caught up in a scandal that has raised broader worries about the risks of metal financing in China. The probe at the Chinese port, where a third-party firm is suspected of using single cargoes of metal multiple times to obtain financing, has also shaken markets amid fears the problems could extend to other ports and force a crackdown on using
Citigroup Inc has about $280 million in loans tied to commodities in two Chinese ports which are at the center of a probe into possible fraud, a senior executive said on Friday, becoming the first U.S. bank to disclose its potential exposure. The total is a large portion of the bank's roughly $400 million worth of so-called repo commodity financing deals in China. Short for repurchasing agreements, repo deals give customers access to short-term credit in exchange for goods.
Jet Edge, Inc., announced that Fab Metal Shop of Long Beach, Cal., is offering waterjet cutting services on a state-of-the-art Jet Edge High Rail Gantry waterjet cutting system. Fab Metal Shop can cut virtually any material with its Jet Edge waterjet machine, including metals, stone, resin, woods and plastics. The company’s Jet Edge High Rail Gantry waterjet system features a 6’X12’ work envelope. Fab Metal Shop equipped its waterjet system with a Jet Edge Permalign II
Metal Action Machining Ltd. (the CNC Division of Analytic Systems) has announced that they have been certified to the International Standards Organization (Certificate number AS-1197), Aerospace AS9100 Quality Management System. On the heels of being certified to ISO9001-2008 one year ago, Metal Action decided to upgrade to the Aerospace Certification. This will allow Metal Action to obtain new aerospace contracts for the likes of AVCORP, ASCO, Boeing, Bombardier, etc
Metal-on-Metal Waterjet Seal Eliminates Conventional Plastic Seals, Cuts Number of Consumable Seals in Half Jet Edge, Inc. has announced that the United States Patent and Trademark Office has issued the waterjet manufacturer a patent for a high pressure fluid sealing mechanism designed by Jet Edge R&D Engineer Michael Wheeler. Jet Edge’s proprietary high pressure fluid sealing mechanism (U.S
The Chinese probe into financing of copper and aluminium may spread to other commodities such as iron ore and soybeans, an executive of a commodity hedge fund said on Wednesday. Banks and trading houses have been making urgent checks on the security of metal holdings in China, sparked by a suspected fraud at Qingdao Port, the world's seventh biggest. Police are investigating the duplication of warehouse receipts by a third-party firm on metal cargos used to obtain financing.
Clarksons Research discusses about the emerging trends in China which is at the heart of the world’s seaborne trade. In 2015 the Chinese economy saw both a slowdown in growth and a significant degree of turbulence. GDP growth slowed from 7.3% in 2014 to 6.9%
U.S. President Donald Trump says he wants to build dozens of new warships in one of the biggest peace-time expansions of the U.S. Navy. But interviews with ship-builders, unions and a review of public and internal documents show major obstacles to that plan.
In the last few decades, the shipping industry has generally been able to rely on seaborne trade as a fairly steady performer, says a report from Clarksons Research. However, the slowdown in volume growth since the financial crisis has focussed the industry’s thoughts on
Six Robert Allan-designed Advanced Rotortugs ART 85-32W for Perth-based Fortescue Metals Group (FMG) will be driven by Schottel Rudderpropellers. The order is about the delivery of 18 SRP 430 FP (1765 kW each). The vessels will be built by Damen Song Cam Shipyard in Vietnam.
Maersk Line introduces a new service – the AE7 – on the Asia-North Europe trade and a new service – the TP16 – on the Transpacific trade. The new services will enable MSC and Maersk Line to accommodate the incoming volumes from the recently announced slot purchase
Louisiana-based shipbuilder Metal Shark has announced the launch of its new website. The new metalsharkboats.com features an all new design boasting fresh content, increased functionality, and robust search tools that facilitate navigation within the company’s vast product portfolio
Singapore fuel oil trading volumes have soared after the 380-cst front-month time spreads widened by around $1 per tonne from the previous day's close, in what could develop into an aggressive trade strategy that occasionally rattles this market.
The LPG shipping trade will continue to grow at a healthy pace on the back of strong Asian demand, but fleet growth will outpace it, keeping rates under pressure in 2017, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
In a bid to raise the maritime container trade between French port HAROPA and Indian ports, a power-packed delegation is visiting India from February 20-23 to hold road shows in four cities across the country. During the visit, the delegation led by Mr Herve Martel
Trading house Vitol purchased a liquefied natural gas (LNG) shipment from Angola's Soyo production facility following a tender, trade sources said. The vessel is currently sailing off South Africa on a heading which indicates a delivery to India or markets in Asia, the sources said.
France-based Haropa port expects maritime trade with India to grow at double digit this calendar year after having reported 7% growth in 2016, said Herve Martel, , CEO - Port of Le Havre & President- HAROPA ports. “We have received encouraging response from the Indian policy
Protectionism and long hauled free trade negotiations can be an expensive battle for the Danish shipowners, if the market outside the European Union are not included in free trade negotiations. The Danish Shipowners’ Association hosted a verbal rumble between the Danish Social
Ferry and logistics operator DFDS has many activities and 2,200 employees in the U.K., placing it at the heart of the ongoing “Brexit” process following the U.K.’s vote to leave the EU and making the firm an early indicator of changes in trade and passenger movements.
Louisiana-based shipbuilder Metal Shark said it has put the first two passenger vessels for New York's new Citywide Ferry Service on the water, having splashed the new builds at its Franklin, La. shipyard late last week. At 7:30 a.m
Container trade on intra-Asian routes accounts for a significant proportion of global seaborne container trade, and in 2016, growth in intra-Asian box trade accelerated notably, helping to generate a healthier demand environment in the boxship sector, says a report in Clarksons Research.