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
Baltex reaches breakeven level since start of 2015; Baltic previously faced broker opposition over platform. London's Baltic Exchange is studying a potential foray into commodities and is open to proposals on tie-ups as other exchanges attempt to boost volumes, its chief executive said.
According to the Internatinal Chamber of Shipping, the United States Congress signaled last week its intention to approve major free trade deals with Asia and Europe. ICS voices serious concern about the potentially protectionist approach being taken by the U.S
“The prosperity of the United States is inextricably entwined with that of the rest of the world and international trade agreements provide stability and equity enabling increased trade,” said American Association of Port Authorities (AAPA) President and CEO Kurt Nagle in
The Singapore SLNG Corporation and Commodities trading firm Trafigura have signed a storage agreement for the excess capacity within the Singapore LNG terminal on Jurong Island. John Ng, CEO at SLNG, operator of the country's first LNG terminal
An experimental offshore floating wind farm project sponsored by the Japanese Ministry of Economy, Trade and Industry has been underway since March 2012. Participating in the project is a consortium comprised of Marubeni (project integrator), the University of Tokyo (technical advisor), Mitsubishi
Odfjell today signed an agreement for the sale of Bow Balearia, Bow Bracaria and Bow Brasilia, all 5,800 dwt, built 1997/1998. The vessels are the last remaining vessels within Odfjell’s trade in the European short sea market
Trade Connect, the Port of Los Angeles’ award-winning export education outreach program, formally debuted its new website, LATradeConnect.org, at today’s Los Angeles Board of Harbor Commissioners Meeting. “Trade Connect plays a vital role in strengthening our
CME declares force majeure for corn, soy shipping stations due to floods CME Group Inc declared force majeure for all corn and soybean shipping stations because of flooding on the Illinois River, according to a notice from the exchange operator on Wednesday.
A subsidiary of Singaporean conglomerate Keppel Corp Ltd said it signed a 15-year contract with the International Seabed Authority to search the ocean for scarce minerals. The push to explore the ocean is gaining momentum as ore grades on land decline and demand grows for metals in
Ocean Mineral Singapore Pte Ltd (OMS) has entered into a 15-year exploration contract for polymetallic nodules at a site within the Clarion-Clipperton Fracture Zone of the Pacific Ocean with the International Seabed Authority (ISA). Sponsored by the Singapore Government
Genco Shipping & Trading Limited and Baltic Trading Limited have declared July 17 the date for an annual meeting of the two companies, where shareholders will vote on their proposed merger. Genco will acquire NYSE-listed Baltic Trading in a stock-for-stock transaction
Glander International Bunkering, a global leader in Bunker, Lubricant trading/brokering has promoted Piyush Raghuvanshi as Senior Bunker/Lubricant Trader & Team Leader of the Mumbai office. Piyush joined the firm in 2013 and demonstrated strong leadership and trading skills. Mr
Over $750 million worth of fuel oil traded 1st week of June. Trading frenzy leads to record price swing. Major commodity houses are betting against each other on the direction of fuel oil in Singapore, the world's largest market for shipping fuel
India's Largest shipping Company, the Shipping Corporation of India (SCI) in its continuous efforts to facilitate shipping solutions to the Indian trade has now upgraded the Coastal ports of call on the SMILE Service to include Katupalli and Visakhapatnam on East Coast
Samskip has increased capacity on Norway by chartering the 657 TEU container vessel MV Alk, built in 2004 and measuring 132.60 x 19.20 metres. Caesar Luikenaar, Trade Director Scandinavia Trade says the company has deployed the 8,015 DWT vessel on the weekly Norwegian West Coast service which