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%.
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 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. (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
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
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
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
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
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)
A water bladder on the pier at Chinhae naval base is filled by offshore petroleum distribution system ship MV Vice Adm. K.R. Wheeler (blue-hull ship in distance) Feb. 26 as part of a demonstration of the ship's capabilities during Exercise Key Resolve 2008. Photo by Edward Baxter, Sealift Logistics Command Far East Public Affairs Military Sealift Command personnel and ships demonstrated their ability to quickly respond to a breakout of hostilities on the Korean peninsula as part of
As part of our objective to continually improve their services to customers, MSC has included a new mainline call to Hazira from July 2015. MSC Tomoko will be the first vessel to call at Hazira on 2nd July 2015. Seven MSC 9,000 TEU vessels will be deployed on the upgraded service
Watson Farley & Williams (“WFW”) has advised long-time client MSC Cruises (“MSC”) on the €1.2 billion (US$1.35bn), export credit agency (ECA) supported financing of two newbuild ‘Seaside class’ cruise ships
Geneva-based MSC Cruises S.A., and Fincantieri, today cut the first steel for its new generation of ship, MSC Seaside. In a ceremony held at Fincantieri’s shipyard in Monfalcone, Italy, MSC Cruises’ Executive Chairman Pierfrancesco Vago and Chief Executive Officer
A revolutionary new option to scrapping for younger panamax containerships deemed too small for a tradelane involves widening the vessel rather than adding length. The enlargement operation of MSC Geneva was held at the Chinese shipyard Huarun Dadong (HRDD)
Cruise lines like Holland America, MSC Cruises, Costa Cruises, Star Clippers, Hapag-Lloyd Cruises and Aida Cruises have canceled all port stops to Tunisia for the rest of the year following the jihadist terrorist attack and massacre in the capital March 18th.
MSC Oliver was inaugurated at the DSME shipyard in Busan, South Korea, just two months after the delivery of MSC OSCAR. This week, it was the turn of Oscar’s cousin, Oliver, to break the traditional bottle of champagne against the ship, in the presence of his father Pierfrancesco Vago
Mediterranean Shipping Co’s latest vessel MSC Oscar, the world's largest boxship, has entered the Panama Registry. The Panama Maritime Authority (AMP) has announced that the Merchant Marine Department has inscribed in the Panama Registry the MSC Oscar.
ABB Turbocharging helps improve engine performance on record- breaking containerships ABB has designed turbochargers powering the largest ships in the world. First came the China Shipping Container Lines (CSCL) Globe with capacity of 19,100 TEU completing its maiden voyage in February 2015
MSC Mediterranean Shipping Group has signed an exclusive partnership with the social media consultancy Orca Social Ltd. Over the past 45 years the family-owned shipping company, headquartered in Geneva, has maintained a modest approach to communications.
Maersk Line has entered into a vessel sharing agreement with Switzerland-based Mediterranean Shipping Company (MSC) and Japan's Mitsui O.S.K Lines (MOL) on routes between Asia and the east coast of South America. "The VSA will simplify the network and improve operational responsiveness on
ABB has designed turbochargers powering the largest ships in the world. First came the China Shipping Container Lines (CSCL) Globe with capacity of 19,100 TEU completing its maiden voyage in February 2015. This was followed by the Mediterranean Shipping Company (MSC) Oscar at 19,224 TEU
MSC has announced plans to optimise all of its Asia-Europe services. The changes, which will be implemented progressively over the coming months will include: port combinations, vessel rotations and capacity deployment. Since the launch of the new Asia – Europe network in
The Australian Maritime Safety Authority’s (AMSA) Navigation Safety and International Relations General Manager Brad Groves has been elected as Chairman of the International Maritime Organization’s (IMO) Maritime Safety Committee for 2016.
Mediterranean Shipping Company announced improvements to its MSC’s East Coast South America (ECSA) service to and from the US & Mexican Gulf, effective from the first week of July. MSC’s current Amazon Service (Gulf to ECSA) & our US Gulf feeder service will be replaced
The new mandatory code for ships fuelled by gases or other low-flashpoint fuels was adopted by IMO's Maritime Safety Committee (MSC), when it met at the Organization's London headquarters for its 95th session from June 3-12, 2015. The Committee also placed unsafe mixed migration by sea on its