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
Venezuela's state-run PDVSA will use a terminal owned by U.S. firm NuStar Energy on the island of Saint Eustatius to store crude and load very large crude carriers (VLCCs) going to Asia, after deciding it will no longer rent a facility in the Bahamas, according to a PDVSA executive. PDVSA has been using the Saint Eustatius terminal in the Caribbean since March as a center to store and mix its crudes and produce exportable blends
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
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)
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
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 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
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 email@example.com.
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
Pemex, Mexico's state oil company, will launch new companies next year as it restructures following landmark energy reform, Pemex Chief Executive Officer Emilio Lozoya told local radio on Monday. "The business plan that we're considering for the next year will involve an internal restructuring," Lozoya said. "We will be launching various new companies that will be 100-percent-Pemex owned in order to run certain businesses more efficiently."
Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility. The RTGs follow on from an order of two units that were commissioned earlier in 2014 at the port.
UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive, investing more than $2 billion in bigger ships and forming alliances with peers to boost efficiencies and
DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility. The ‘APL Phoenix’ was welcomed by DP World Chairman
Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful introduction of Gloria into European and APAC markets where Kalmar reachstackers have firmly established a reputation for
The port of Antwerp handled a freight volume of 148,344,168 tonnes during the first nine months of this year. That’s 3.7% more than the same period last year. Both the container volume and the liquid bulk volume were strongly up, which helps to explain the continuing growth
Container throughput at French port Marseilles Fos reached 876,711 teu for the period January to September, an increase of 6% on the first nine months last year. The performance - driven by a 9% rise at the Fos 2XL deep sea terminals - was two points better than the trend at other French ports
VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered, combination Container Roll-On/Roll-Off (ConRo) vessels for Crowley following the signing of the contract
Guardian Maritime launched Guardian Greenwater, a new product that was developed to deal with the issue of greenwater on-board deck following turbulent weather conditions, but also serves as piracy barrier but . It will be fitted onboard a tanker next month, its first installation.
Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007, the Port’s peak year. A total of 629
Temporary suspension of Central China (CC2) Service / All ports covered by other G6 services In response to seasonal changes in market demand, the members of the G6 Alliance announced the temporary suspension of their Central China (CC2) service between Asia and the U.S
The CMA CGM Group announced it has acquired more than 7,000 of last generation 40’ High Cube Reefer containers including 6,000 low consumption engines. The CMA CGM Group said regularly invests Reefer containers that reduce carbon print by 60% compare to the first generation’s Reefers
New service expands Port of Charleston's capacity to serve North-South trade The SC Ports Authority today received the first ship call of a new consolidated East Coast South America service that brings additional post-Panamax vessels to Charleston.
The largest ship ever to enter the Thames arrived at DP World London Gateway, the U.K.’s new deepwater container port. The 397-meter-long, 56-meter-wide Edith Mærsk has a draught of 16 meters and carries up to 15,500 TEU (twenty-foot equivalent units).
India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers. The port of Chabahar in southeast Iran is central to India's efforts to circumvent Pakistan and
The Port of Long Beach will add an extra three days to the time that overseas import containers can remain on the docks without charge, in order to grant some relief to cargo owners as the supply chain works to eliminate cargo delivery delays.