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.
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.
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
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.
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
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
The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa this is even more the case due to less developed land infrastructure.
The Port of Indiana-Burns Harbor opened the 2016 international shipping season today with the arrival of the M.V. Lubie , a 623-foot bulk carrier from Europe. To commemorate the first ocean vessel of the year, the captain was presented with the Port of Indiana 'Steel Stein.'
Louisiana-based shipbuilder Metal Shark has been awarded a small shipyard grant by the United States Department of Transportation’s Maritime Administration (MARAD). Metal Shark was one of nine shipyards selected for an award from a field of 118 applicants.
The Port of Rotterdam handled roughly the same volume of cargo in the first quarter of 2016 as in the same period last year, as an increase in the volume of, mainly, crude oil and oil products put through the port was offset by a more or less equivalent decrease in the volume of dry bulk and
ZIM Integrated Shipping Services Ltd (ZIM) has announcd an enhanced Asia to US East Coast and Gulf service offering, with seven different weekly services, extensive direct port-to-port coverage and best-in-market Transit time from key ports in Asia to US East Coast & Gulf.
China has agreed to scrap export subsidies on a range of products from metals to agriculture and textiles, the United States said on Thursday, in a step by Beijing to reduce trade frictions with Washington. China is to end a program known as its "demonstration bases-common service
China's trade with North Korea rose in the first quarter in spite of tough new international sanctions this year targeting Pyongyang's banned nuclear program, including curbs on coal imports. Imports from the isolated country, consisting mainly of coal and clothes, rose 10
Yesterday during a joint trade mission in Montreal, the port authorities of Montreal and Antwerp, Belgium renewed their cooperative agreement. The first agreement, signed in March 2013, resulted in four trade missions to Montreal and Antwerp during which extensive business contacts were
DP World Group Chairman and CEO, and Chairman of Ports, Customs and Freezones Corporation, HE Sultan Ahmed Bin Sulayem has met with the Prime Minister of Georgia, Giorgi Kvirikashvili, at the Annual Investment Meeting in Dubai to explore possible future opportunities for economic co-operation.
The latest Container Shipping Forecaster from Maritime Strategies International (MSI) makes a more optimistic forecast on the demand side. Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner
Veresen, the developer of the Jordan Cove LNG facility in Oregon, has announced a preliminary agreement on key commercial terms with Itochu, including the purchase of 1.5 million mt/year of LNG (190 MMcf/d or 70.1 Bcf of gas) for an initial term of 20 years.
The latest Container Shipping Forecaster from MSI suggests a more positive market outlook for the container shipping sector in 2016 than the analysis of most of its peers. Though its supply-side predictions are broadly aligned with those of Drewry and Alphaliner
Henrique Machado Rabelo, who has for some time already been responsible for commercial and institutional contacts and will now be focusing on the latter, was recently joined by Ricardo Sproesser, who will manage and develop the commercial contacts
The British government opened talks on Tuesday with potential buyers for Tata Steel's UK operations, including Sanjeev Gupta's commodities company Liberty Group, as it stepped up its battle to find a buyer for the loss-making business.
Navios Maritime Holdings Inc. regains compliance with NYSE continued listing requirements Dry bulk shipping and logistics firm Navios Maritime Holdings Inc. announced that, based upon a notice received on April 1, 2016 from the New York Stock Exchange, Inc