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Entomology for the millennium: Options for the bugs

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


Asia-Bound VLCCs to Use Venezuela's St Eustatius Terminal

VLCC file photo

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 Rents Out First IHC Beaver Dredger

IHS Beaver 40

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


Iron-Ore Ship Rents Fall

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)


Get Ready for Changes in Lease Reporting

By Richard J. Paine, Sr.

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


New CEO Showcases Marseilles Fos Initiatives

Christine Cabau Woehrel

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


Intrepid to Close for Repairs, Renovation

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


DMC Partners to Develop "The Dolphin Residence"

28 5 14 Dolphin Residence - Artists Impression.JPG

Dubai Maritime City (DMC) announced its partnership jointly with Sharaf Investments and Al Ali Property Investment (API) to develop “The Dolphin Residence” within the City, into a high-end Freehold mixed use development complete with offices, private residences, a four star hotel, shopping mall, mosque, parking lot and leisure facilities. The partnership deal was signed by Khamis Juma Buamim, Chairman, Dubai Maritime City; Sharafuddin Sharaf


Container Census Predicts Limited Box Availability

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


IMCA Moves to Larger Headquarters

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 imca@imca-int.com.


Keeping to the Schedule in the Pacific Northwest

Photo courtesy of Cummins and Hansen Shipyard

When a tightly scheduled repower for the Kodiak-based trawler Sea Mac in early December took a very bad turn, Mike Fourtner used his 25 years of fishing experience and leadership to pull together a team at Cummins Northwest to solve the problem


Port of Houston Expecting Record Year

John Moseley, Sr. Director, PHA Trade Development; Ellen Goldberg, Indian Film Festival of Houston (IFFH) Board Member and Immediate Past President, Sister Cities of Houston; Port Commission Chairman Janiece Longoria; Sutapa Ghosh, Founder and Festival Director, IFFH; Atul Badwal, IFFH Board Member; and Port Commissioner John Kennedy

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director Roger Guenther reported to the port commission of the Port of Houston Authority at its monthly meeting Tuesday.  


Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.   APM Terminals said in a statement Costa Rica's National Concession Council had also issued a


MSC Oscar is the World’s Largest Containership

MSC Oscar (Photo: MSC)

MSC Oscar, the newest cargo vessel built for Mediterranean Shipping Company (MSC), will launch in January 2015, and at 19,224 teu, the containership will take the record for world’s largest.   MSC Oscar possesses a nominal capacity of 19,224 teu


NPCT1 to Develop New CT in Jakarta

Logos

  PT. Pelabuhan Indonesia II (Persero) (“IPC”), Mitsui & Co, Ltd. (“Mitsui”), Nippon Yusen Kabushiki Kaisha (“NYK Line”) and PSA International Pte Ltd (“PSA”) have agreed to jointly participate in the construction and operation of a new


Report: Dire Conditions in Indian Shipbreaking Yards

Photo: NGO Shipbreaking Platform

Report by Indian research institute reveals poor enforcement of occupational health and safety provisions   The working and living conditions at the shipbreaking yards of Alang, India, remain alarmingly poor, argues a new study published in the Economic & Political Weekly


K Line to Expand Use of Eco-efficiency Software

Photo: K Line

Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel   NAPA and ClassNK announced a deal with Kawasaki Kisen Kaisha Ltd. (K Line) to install an eco-efficiency and operational


Transpacific Container Shippers Plan Price Rise

File photo: containership at dock.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned


Maersk to Continue Russian Operations

Denmark's A.P. Moller-Maersk said its four subsidiaries with activities in Russia continue to operate as planned despite the recent sharp drop in oil price and the rouble's collapse. "The Group's business with Russia amounts to some two to three percent of our total revenue


BMT Completes Hong Kong Port Study

BMT completes Hong Kong Port Strategic Development Study‏

  BMT Asia Pacific, a subsidiary of BMT Group Ltd, is pleased to announce the completion of The Strategic Development Plan for Hong Kong Port 2030 (HKP2030) on behalf of the Hong Kong Government. The Study is a key element in guiding local port development policy and planning investment for


Los Angeles Container Volumes Drop

Photo: Port of Los Angeles

November container volumes down 3 percent at Port of Los Angeles; year-to-date volumes up 6.5 percent   Overall containerized cargo volumes in November 2014 have decreased 3 percent at the Port of Los Angeles compared to November 2013


Transpacific Box Shippers Plan Freight Rate Rise

Photo: Maersk Line

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level.   The Transpacific Stabilization Agreement (TSA) said the planned


Container Volumes on the Rise in South Carolina

Photo: South Carolina Ports Authority

Container volume up 13 percent at South Carolina Ports Authority; Charleston benefiting from federal appropriations    The SC Ports Authority announced another month of double-digit container growth, with fiscal year-to-date volumes up 13 percent year over year.  


Becker Marine Delivers Rudder for Largest Containership

CSCL GLOBE

Becker Marine Systems delivers rudder for the largest container ship in the world   At 19,000 TEU, the largest container ship in the world is now picking up speed – with a high-performance rudder from the Hamburg-based company.  


Maersk: Rate Hike Under Pressure on Low Demand

Image: file photo

Container shipping firm Maersk Line said a fresh attempt made on Monday to raise freight rates on main routes from ports in Asia to those in northern Europe was already under pressure due to weak demand from shippers. Maersk Line, a unit of Danish conglomerate A.P






 
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