Eversheds International says that UK trade would clearly be impacted by the Brexit vote. "We saw an immediate effect on currency and share prices, although there are signs that the market is settling down after the initial post-vote furore," says a report by Eversheds. In terms of longer term impact, there are some matters which are already tolerably clear, for example that any changes to the cost of trade with the EU are likely to affect freight volumes at British ports. However, the precise nature and extent of the effect on UK trade will depend entirely on the form of relationship which is ultimately agreed both with the EU and with other trading partners. With the new British Prime Minister, Theresa May, looking to defer triggering Article 50 until 2017, that form of relationship remains pretty ‘uncertain’. There are wider potential outcomes for shipping in the UK beyond the direct effect on trade volumes. In terms of the UK offshore industry, for example, Tradewinds reported recently that “when news of the UK’s decision to exit the EU hit the offshore sector, most analysts agreed that the longer-term damage for the sector would be from a possible slowdown in the world’s economy. However, some warned the immediate and near-term effect would be that oil companies would obviously put the brakes on much-needed investment in the UK.
Effective June 9, MAN B&W Diesel has acquired the Alstom Engines business, and effective immediately the Alstom Diesel engine business was renamed MAN B&W Diesel Ltd. with its headquarters in Stockport, Cheshire. Dr. Hans-J. Schulte, President of MAN B&W Diesel, stated: "We welcome the new British members of the MAN B&W Diesel team to the MAN family. We will strengthen their technical and brand identities, thus bringing a wider range of products into a wider range of markets and placing more
Avon Inflatables, a U.K. RIB manufacturer, will be representing the UK Marine Industry on a combined outward Trade Mission to Australia and New Zealand this August. The event, organized by Trade Partnerships U.K. in association with the British Marine Federation, will see a number of U.K. marine companies visiting the two countries with the aim of raising the profile of the U.K. industry. During the mission, the group will be attending The Sydney Boat Show,
British Columbia's government is pushing to end a nearly four-decades-old ban on offshore oil and natural gas drilling to encourage exploration, Bloomberg reported. Fields off Canada's westernmost province's shores hold as much as 10 billion barrels of oil and 40 trillion cubic feet of natural gas, according to government estimates. It could be the biggest offshore reserves for any province based on these estimates, topping Newfoundland on the east coast
1775 - The first prize, the British supply ship, Unity, was captured by the Continental schoonerHannah. 1776 - David Bushnell attempts to destroy a British Ship of the Line, HMS Asia, in New York harbor with his submarine Turtle. 1942 - First air evacuation of casualties to hospital ships off shore occurs at Guadalcanal. (Source: Navy News Service)
Aircraft carrier USS Carl Vinson works with new HMS Daring to exercise air defence capability HMS Daring has been working with the USS Carl Vinson and her impressive air wing of fast jets to test Daring's Sampson radar and control system which allows multiple targets to be tracked over ranges of up to hundreds of miles. That information is fed to the Aster missiles in the silo on the ship's forecastle. With the long-range radar, Daring can track many thousands of air contacts
Greenpeace won its bid to delay oil exploration in the north Atlantic when a judge ruled the British government was failing to apply a European Commission environmental directive in allocating licenses. The government is considering an appeal against the judgment on the basis that it is not taking into account the Commission's Habitats Directive in issuing exploration licenses. A spokesman said the government had been planning to issue new licenses in its 19th round early in 2000
British shipping group P&O plans to start taking Germans on cruise holidays, citing that market as underdeveloped and with huge growth potential. The company is investing an initial $80.6 million and taking a 51 percent stake in a joint venture cruise company to be formed with privately owned German group Arkona Touristik. The new company, Aida Cruises, will order two new ships to complement the 1,200 berth Aida. P&O has an option to take full control of the venture once the ships are
Diane Finley, Minister of Public Works and Government Services Canada, joined by James Moore, Minister of Industry and Regional Minister for British Columbia, announced that Seaspan’s Vancouver Shipyards will build an additional 10 Noncombat vessels for the Canadian Coast Guard. The new ships, confirmed during Minister Finley’s visit to the Shipyards, increase Seaspan’s noncombat build package to 17 ships from the seven originally announced on October 19, 2011
Europe is luring twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. In just a week, seven new LNG tankers embarked for Belgian, British and Dutch ports and six more may arrive in the next month, attracted by the widest and most consistent premium to Asian prices in at least five years, price data on Reuters Eikon shows.
ICS Secretary General Peter Hinchliffe reaches out to the Canadian Transport Minister in a letter this week. The text of that letter follows below: Dear Minister Garneau, I am writing on behalf of the International Chamber of Shipping (ICS) which is the principal global trade
Britain said on Thursday it would keep a close eye on a fleet of Russian warships approaching British waters on their way to the eastern Mediterranean. The Norwegian military on Wednesday released pictures taken by surveillance aircraft of the fleet
Subsea Industries has received an order for its specialist hull and rudder coatings for application to a shallow draught anchor handling tug supply (AHTS) vessel under construction at Turkey’s Atlas Shipyard. The hard-type coatings were selected amidst strong competition
The Navy will commission its newest Freedom-variant littoral combat ship, Detroit (LCS 7), during an 11 a.m. EDT ceremony Saturday, Oct. 22 on Detroit's waterfront. Detroit is the sixth U.S. ship in our nation's history to be named in honor of city of Detroit.
Actor Mark Wahlberg said "the biggest responsibility" for himself and the makers of the new movie, "Deepwater Horizon," was to honor the real-life victims of the 2010 oil rig disaster. "The oil can ultimately be cleaned up, (but) those 11 men can't be replaced
Family owned and Bremen based shipyard, Luerssen acquired storied shipyard Blohm+Voss in Hamburg, the company announced on Wednesday, September 28, 2016. With the acquisition of Blohm+Voss, Luerssen said it is entering into a long-term relationship to strengthen its portfolio in the
Cox Powertrain will preview its professional outboard motor, the CXO300, at the Workboat Show in New Orleans later this year. Britain's Cox brought together engineers from Formula 1 racing and automotive engine design to develop this new concept diesel engine
BP has criticized the new "Deepwater Horizon" film as being an inaccurate Hollywood dramatization of the deadly oil rig disaster in the Gulf of Mexico in 2010. "The Deepwater Horizon movie is Hollywood's take on a tragic and complex accident
Asian liquefied natural gas (LNG) gas prices reached a nine-month high this week as demand from India, Japan and South Korea underpinned sentiment, reports Reuters. LNG for November delivery were about $6.20 per million British thermal units (mmBtu), 10 cents higher than last week
The submarine market will be valued at $22.8 billion this year. By 2026 the market will reach $36.3 billion, according to Strategic Defence Intelligence. This represents a compound annual growth rate of (CAGR) of 4.74%.
Incat has been selected by Virtu Ferries of Malta to design and build a 110 meter vehicle passenger RoPax ferry. The new wave piercing catamaran will become the 15th fast ferry Virtu has acquired, it will be the largest high speed catamaran in the Mediterranean and with a service speed up
As Britain sets sail in uncharted waters on the lookout for post-Brexit trade deals, lawmakers and a former diplomat have earmarked two key weapons: the Duchess of Cambridge and a new royal yacht. Following the vote in June for Britain to leave the European Union
The largest fast passenger ferry order for a U.K. shipyard in over 25 years has been confirmed by MBNA Thames Clippers. Two new 170 capacity passenger boats will be built at the Wight Shipyard Co on the Isle of Wight, and will join London’s growing river transport network in summer 2017.
Norwegian Cruise Line will commence a new era of Alaska cruising beginning June 2018, as the company announced today that its next new vessel, Norwegian Bliss, will be custom-built with features and amenities for Alaska cruising. Norwegian Bliss will cruise to America’s Last Frontier from
U.K. shipbuilder Cammell Laird held one of the largest ceremonies in its history when Sir David Attenborough joined more than 1,000 people for the keel laying of the new £150 million polar research vessel. Construction was officially started by the world-renowned naturalist and