Every company in the marine and offshore industries has at some stage been involved in a millennium bug compliance study. It is now time to admit that industry is bored with the subject. Since the problem was first mooted, its possible outcome has remained a mystery, which is the only definite aspect of the millennium bug problem. No one actually knows what will happen. One thing is certain, though, in the modern marine and offshore industry, information has become the most important business tool. How companies handle and store it for use depends on their internal structure, but it is safe to say that it will be on a computer at some stage. Lose the information, and the company will lose money rapidly while trying to recoup that information and operate effectively at the same time. So information-sensitive companies such as shipbrokers, agents, offshore oil companies, and ship operators, have been forced to take measures to ensure compliance. Until recently, there was only one course of action open to them, weed out the problems now by replacing equipment, at huge cost, that does not meet millennium bug requirements. There are now two courses of action possible. Companies can now rent the software. Renting software is a service that has never been offered to the shipping industry before, but small and medium-sized companies have welcomed the idea
IHC Merwede has entered the international rental market with its standard IHC Beaver dredgers and DMC work boats. The company has identified a demand in the market for vessels and equipment that may only be used for a relatively short period of time. In August, the first dredger – an IHC Beaver® 40 – was rented out to a contractor in Europe. The dredger was easily loaded on to trucks and transported to the dredging site
The aircraft carrier Intrepid, the military museum that has been docked on the Hudson River for 24 years, is scheduled to close on Oct. 1 and will be moved soon afterward to New Jersey for repairs and Staten Island for renovation. The New York Times reported that about a month after the museum closed, the carrier would be towed away from its mooring at Pier 86 and is not expected to return for 18 months. The museum's directors approved the general plan last week after Mayor Michael R
From the December 2010 edition of MarineNews Since the middle of 2006, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working towards changing how companies report their lease transactions on their balance sheets. Those companies (including publicly traded entities) whose reporting complies with Generally Accepted Accounting Principals (GAAP) must observe the reporting regulations as set down by FASB
According to a report from Bloomberg, rents for capesize ships that haul iron ore fell the most in a month on excess vessel supplies. Hire rates fell 5.4% to $6,359 on May 10, data from the Baltic Exchange in London show. That’s the biggest decline since April 8 and leaves rates 86 percent lower than a year ago. (Source: Bloomberg)
Christine Cabau Woehrel has taken up her new role as CEO of the Marseilles Fos port authority after two years heading the Port of Dunkirk. She succeeds Jean-Claude Terrier following a French transport ministry nomination that was backed by the port’s supervisory board in February and has now been confirmed by government decree. Her move marks a return to the headquarters city of CMA GGM, France’s biggest and the world’s third largest container carrier
The International Marine Contractors Association (IMCA), representing offshore, marine and underwater engineering companies, has moved to new and larger offices. Their new address is: IMCA - International Marine Contractors Association, 52 Grosvenor Gardens, London SW1W 0AU, UK. Their telephone and fax numbers and email address remain unchanged - Tel: +44 (0) 20 7824 5520, Fax: +44 (0) 20 7824 5521; Email firstname.lastname@example.org.
After the critical shortages of containers of last year, production has picked up again, but high container prices and a tight ratio of containers to vessel slots will continue to constrain the availability of boxes, according to the Container Census – Annual Survey and Forecast of Global Container Units, a new report from Drewry Maritime Research. At the end of 2010, the global fleet of containers exceeded $90 billion in replacement value for the first time, according to the report
Ashtead Technology announce at the U.K.'s Ocean Business 2013 expo that it has purchased Sonardyne 6G acoustic positioning equipment value £1.3 million. This latest acquisition is the second significant order placed by the company for 6G in the last 12 months, further strengthening the Ashtead Technology fleet of Compatt 6 transponders, including various sound velocity, digiquartz and inclinometer sensors, GyroCompatts
Tentec, a designer, manufacturer and supplier of bolt tightening equipment is pleased to announce that due to popular demand, its renowned ranges of topside and subsea bolt tensioning equipment is now available for worldwide rental. Supported by Tentec’s established worldwide distributor network, this latest move enables organizations to hire and use tools just when they need them, so keeping project costs low
Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,616 boxes, totaling 692,338 pier containers fiscal year to date.
The Port of Los Angeles has released its March 2014 containerized cargo volume figures, showing that container imports surged 42 percent, from 231,397 TEUsin March 2013 to 327,497 TEUs in March 2014. Exports rose 21 percent, from 154,428 TEUs in March 2013 to 187,826 TEUs in March 2014.
In the latest Clarkson Hellas S&P Weekly Bulletin newbuilding orders are reported in Far East shipyards for a range of vessels as follows: Bulk carriers Clarkson Hellas understand that Golden Union have declared options for three further 81
The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type, less crude oil (-2%), mineral oil products (-14%) and other liquid bulk cargo (-14%) were transferred
Drewry’s latest Container Equipment Insight, exclusive to subscribers of Drewry’s Container Leasing and Container Census reports, saw prices for new dry freight containers increase in the opening months of 2014 for the first time in two years.
Prices for new dry freight containers increased in the opening months of 2014 for the first time in two years, observes Drewry's latest 'Container Leasing and Container Census'. Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009
Truck gates at Charleston's container terminals will be open on Friday, April 18th, 2014 with modified holiday work hours. The interchange lanes and yard will be open from 0800 to 1200 and from 1300 to 1700. Empties, Dry Loads, and Chassis must be
The National Retail Federation (NRF) informs it has urged maritime management and the union representing dockworkers along the U.S. West Coast ports to expedite pending contract negotiations and reach agreement on a new deal well in advance of the expiration of the current contract this summer.
Ben3D BV Naval Architecture introduce in collaboration with Oonincx Shipbuilding BV the innovative ContainerTug 600S. A strong, compact Dutch built workboat with a remarkable feature: it can be transported as a standard 20 foot container. The 1,200 kg bollard pull
The U.S. Coast Guard is searching for a male crewmember reported overboard from a container ship approximately 805 miles northeast of Oahu, Monday. Watchstanders at the Coast Guard Joint Rescue Coordination Center were notified at approximately 8:23 a.m
State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.
The world’s largest container shipping company, Maersk Line, is the official shipping partner for the Volvo Ocean Race, the pre-eminent round-the-world yacht race. The race takes place from 4 October 2014 to 27 June 2015. During the nine month race, seven 65-foot (19
South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned. The shipbuilder won the order from Chilean shipping firm Compania Sudamericana de Vapores (CSAV) a year ago
Harsh winter elsewhere, ship deployment changes soften traffic Container volumes at the Port of Long Beach dipped in March, compared to the same month one year ago, with a decline of 1.9 percent overall and imports essentially flat. March saw some shipping lines suspend services or switch to
Hapag-Lloyd and CSAV binding agreement signed / In return for contributing its container business, CSAV becomes new core shareholder of Hapag-Lloyd / Hapag-Lloyd becomes the world’s fourth-largest liner shipping company Hapag-Lloyd AG and Compañía Sud Americana de Vapores