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TT Club Reports Positive Trading Performance

Photo: TT Club

Specialist liability insurer for the international transport and logistics industry TT Club said it had another good performance for the year ended December 31, 2012, with further increased gross written premiums, and the club now maintains its A- (Excellent) rating for the past eight years. In a statement, U.S. rating agency A M Best reaffirmed the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” of Through Transport Mutual Insurance Association Limited (TTB) (Bermuda) and its subsidiary, TT Club Mutual Insurance Limited (TTI) (United Kingdom) collectively trading as TT Club. "The outlook for both ratings remains stable. The ratings of TTI reflect the integral part it plays in TT Club’s strategy, as well as the extensive reinsurance protection provided by TTB, which is expected to maintain excellent consolidated risk-adjusted capitalization in 2013," the agency said. A M Best also noted in its statement on the TT Club, "Its business profile is supported by a superior service standard, which underpins a high policyholder retention rate of roughly 95%, and by its active involvement in loss prevention and risk management within the industry." The TT Club's gross written premium for 2012 increased to $182.3 million and the Club's combined ratio - the key measure of the health of its operating performance - reduced to 96.3%.


Fairmount Pair Tows Rig Noble Max Smith to Brazil

Max Smith7.JPG

Super tugs Fairmount Sherpa and Fairmount Expedition have towed the drilling rig Noble Max Smith from the Gulf to Brazil. Both tugs hooked-up in Pascagoula Mississippi, USA.   For this job the Fairmount Sherpa and the Fairmount Expedition were mobilized to the departure location from there previous projects. Fairmount Sherpa had just delivered the rig Atwood Condor in Trinidad after a speedy crossing of the Atlantic and the turbulent waters around the Cape of Good Hope and Fairmount


Mediterranean Shipping Co. Announces Appointments

Mediterranean Shipping Company (USA) Inc. (MSC) has announced the following staff promotions and appointments effective immediately: Francesco Pansardi was named Marketing Manager, based in New York City; Tom Hughes was named National Trade Manager Transpacific Service, based in Los Angeles; Halina Rosa was named Trade Manager East Coast for the company's Transpacific service based in New York City; and Juan Wilson has been named Credit Manager, also based in New York City.


Mediterranean Shipping Company Orders New Cruise Ship

Mediterranean Shipping Company. (MSC) has announced that its cruise division, Mediterranean Shipping Cruises, today confirmed an order for a new 1,600-passenger capacity cruise ship to be built by the French shipyard, Chantiers de l'Atlantique at St. Nazaire at a cost of $250 million. Negotiations are also in progress for a second ship of the same capacity. Backed by a network of MSC owned offices and affiliated agents worldwide


MSC Celebrates Mariner Heroes

The Navy's Military Sealift Command will commemorate the Merchant Marine heroes of yesterday and today at a 2:30 p.m. Maritime Day ceremony May 22 at Pier One East on the historic Washington Navy Yard. Rear Adm. David L. Brewer III, USN, commander, MSC, will host the event, and MSC fleet ocean tug USNS Mohawk will be pierside, serving as the backdrop for the ceremony. Mohawk is one of about 110 ships operating daily around the world supporting MSC's mission as the ocean transportation


MSC Announces Award Winners

Fleet replenishment oilers USNS Laramie and USNS Yukon, and rescue and salvage ship USNS Grasp are the winners of Military Sealift Command’s 2008 Capt. David M. Cook Food Service Excellence Awards. MSC Commander Rear Adm. Robert D. Reilly Jr. announced the winners in a message Tuesday, Jan. 22. Laramie won the award in the large ship East Coast category while Yukon took the honor for large ship West Coast. Grasp won the award in the small ship overall category


MSC Announces New Service

Mediterranean Shipping Company (MSC)announced that the company now offers new direct service to West Mediterranean ports in addition to its existing North Atlantic Service. This service is being operated using five 1200 TEU capacity vessels on a weekly basis. The new service rotations are: Boston, New York, Baltimore, Charleston, Savannah, Freeport, Valencia, Naples, La Spezia and returning to Boston. "This service enhancement provides more cargo space and better transit time for


Alstom wins Contract for Cruise Ships

Alstom signed a contract worth $1.17B to build two cruise ships for Italian line MSC in a deal which might avert restructuring of its shipbuilding business following the near bankruptcy of the group last year. The order for the ships, which will each measure 1,106 ft. in length and offer 1,650 cabins, was signed by the chief executive of MSC, Pierre Francesco Vago and his counterpart from Alstom Marine, Patrick Boissier, during a press conference on Monday.


Military Sealift Wins Award forCommand Contracting Team

Secretary of the Navy Donald C. Winter announced Feb. 1 that a Military Sealift Command (MSC) contracting team won a 2006 Navy Competition and Procurement Excellence Award for chartering ships to rescue Americans stranded in Lebanon last year. The team -- Ken Allen, Lee Anderson, Olivia Bradley, Tim Pickering, Lance Nyman, and Dan Wentzell -- worked with companies and brokers from around the world to ensure that more than 6


New Standards for Ship Construction

The IMO's Maritime Safety Committee 78th session (MSC 78) embarked on the difficult task of developing "goal-based standards" for newbuildings. MSC 78 has unanimously agreed to begin this complex endeavour at the next session of this Committee (MSC 79). The base document that will be considered is a joint submission by the Bahamas, Greece and IACS. INTERTANKO will be closely involved in this process through its Safety, Technical and Environmental Committee (ISTEC)


Konecranes Deliver RTG Trio to MSC

Photo: Konecranes

 Konecranes has announced its third RTG delivery to the Mediterranean Shipping Company (MSC) Terminal in Valencia, Spain.   When the three RTGs on order go into operation, MSC Terminal Valencia will operate a fleet of 18 Konecranes RTGs. The cranes will be delivered by spring 2017.


Fincantieri Hosts Coin Ceremony for MSC Seaside

Photo: Fincantieri

Cruise shipping company MSC Cruises and shipbuilder Fincantieri today marked a milestone in the building of MSC Cruises’ latest newbuild MSC Seaside with the celebration of the traditional maritime coin ceremony held at the Monfalcone, Italy shipyard.  


First Call of MSC's Vessel Received at Sohar

Photo: Oman International Container Terminal (OICT), Sohar Port

 Oman International Container Terminal (OICT) received the first call of the Mediterranean Shipping Co (MSC), the world’s second largest container shipper with over 2.7m twenty-foot equivalent units (TEUs) per year, Lana vessel at the Port of Sohar.  


Golden Ocean Names New CEO and CFO

Photo: Golden Ocean

The board of Golden Ocean Group Ltd. announced a pair of leadership appointments, naming Birgitte Ringstad Vartdal as the new Chief Executive Officer of Golden Ocean Management AS and Per Heiberg as the new Chief Financial Officer of Golden Ocean Management AS.  


OOCL Implements Shipping Ban on Whale, Shark and Dolphin

Pic: Orient Overseas Container Line

 Hong Kong-based shipping giant Orient Overseas Container Line (OOCL)  said it would not accept cargo bookings for whale, shark, dolphin and their related products with immediate effect.   In a statement the container shipping firm said: "In our commitment to sustainability


Bahamas Pushes Martitime Activities

Executive Director of The Bahamas Maritime Authority, Cmdr. Davy Rolle, Secretary General Kitack Lim and H.E. Eldred Bethel. (Photo: Bahamas High Commission, London)

 Bahamas' Prime Minister Christie has met with Global Shipping Giant Mediterranean Shipping Company (MSC), in Geneva.   Principal and founder of MSC, Gianluigi Aponte and his senior management team met with Prime Minister at MSCs headquarters in Geneva


Iran, Switzerland Sign Mou On Shipping

Photo: Iran - Switzerland Chamber of Commerce

 The Islamic Republic of Iran and Switzerland signed on Sunday a memorandum of understanding (MoU) on expansion of shipping and sea transport cooperation, Irna reported.   Iran’s Ministry of Roads and Urban Development in a statement said an agreement had been signed with the MSC


MSC Expands India-Africa Service

Photo: Mediterranean Shipping Company (MSC)

 Geneva-based Mediterranean Shipping Co SA has expanded the port rotation of its India-South Africa service by introducing a direct call at Hazira, a privately-operated cargo complex on India’s west coast, in an attempt to pick up additional hinterland cargo.  


MSC Adds Direct Call at Hazira

File photo: MSC

The Mediterranean Shipping Company (MSC) said it has adjusted coverage on its South Africa service with the introduction of a weekly direct call at Hazira, in addition to Nhava and Mundra. MSC’s updated India-South Africa service port rotation is as follows: Salalah - Jebel Ali - Bin


RFP in Maritime Security Research

MSC conducts innovative research, develops new tools and technologies and provides relevant maritime security-focused educational programs to enhance our nations maritime domain awareness, the resiliency of our Marine Tra

The DHS Maritime Security Center (MSC), led by the Stevens Institute of Technology, announces a competitive research opportunity to address challenges in maritime cyber security. This effort invites qualified researchers to propose projects that will provide DHS stakeholders with innovative


MSC: Bringing Asia to Northern France

Image: MSC

 The Mediterranean Shipping Company (MSC) provides a range of shipping services between France and the world’s major trade hubs. Since its foundation in 1993, MSC France has scaled up into a 675,000 TEU per annum business.  


WSS Warns of Firefighting Compliance

Ship owners will need to act now to ensure they comply with new firefighting rules brought into force on January 1, 2016 for all new buildings warns WSS. New amendments to the safety of life at sea convention (SOLAS), which are now in force have laid down extensive ground rules for firefighting


MSC, INTTRA Address Container Weight Rules

Photo: MSC

MSC and INTTRA enter into a new digital partnership to address SOLAS VGM requirements    Container shipping company MSC and ocean shipping electronic marketplace INTTRA have entered a new partnership aiming to introduce a customer-friendly solution to new container weight safety


MSC Introduce 'Lone Star Express' and 'Amberjack' to the Transpacific Trade

Photo: Mediterranean Shipping Company

 Swiss headquartered Mediterranean Shipping Company (MSC) has announced two new services alled the ‘Lone Star Express’ which will operate between Asia and the US Gulf.    This new service will become a new Gateway to/from the US Gulf in anticipation of increased demand


MSC Cruises Orders Four More Ships from STX

MSC Magnifica, which entered service in 2010, was built by STX for MSC (Photo: STX)

French shipyard STX has secured an order for up to four more ships from MSC Cruises, in a 3.6 billion-euro ($4.1 billion) deal announced on Wednesday.   MSC Cruises, part of privately owned shipping group MSC, has in recent years been the main customer for STX France






 
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