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Report Examines

White & Case Publish New Marine Industry Report

Global law firm White & Case LLP announced the availability of a new report, "Restructuring & Beyond: The marine industry's routes to safety." The report focuses on survival strategies for those affected by the industry's downturn as well as emerging opportunities for companies, banks and investors. "Market equilibrium remains out of balance, and risks remain for the maritime sector," said Christopher Frampton, Partner and Global Head of the Asset Finance Practice of White & Case. "We have seen some contraction in the bank market. This, together with continued demand for capital, presents opportunities for alternate sources of finance. Private equity and the export credit agencies may bridge a part of the gap, but with portfolio composition evolving for other investors, we may see a fresh focus on the U.S. capital markets." The report features insight from industry experts including Richard Haines, a ship broker at Howe Robinson; Paul Slater, chairman of First International; Erik Nikolai Stavseth, an analyst at Arctic Securities and Albert Stein, managing director at AlixPartners. The report examines: •Strategic and practical measures companies under threat might take to preserve their future •How lenders and investors can support companies by continuing to deploy capital •New opportunities for investors and new sources of capital


Dry Bulk Shippers Fail to Benefit From Trade Growth

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The Bedford Report Provides Analyst Research on Genco & Diana Shipping NEW YORK, NY--(Marketwire - March 10, 2011) - The bulk and tanker sectors of the shipping industry have been in the headlines for all the wrong reasons this year. Both sectors have been underperforming as freight rates remain under pressure based on too many available ships and not enough demand to match supply. Compounding the crisis, Chinese demand for raw materials has dropped dramatically as the nation tries to


Global Offshore Pipeline Market by Region 1997-2006

source: The World Offshore Pipelines & Umbilicals Report II – Douglas-Westwood Ltd The installation of almost 50,000 km of pipeline is forecast over the next five years in the new second edition of The World Offshore Pipelines and Umbilicals Report 2002-2006, published today by leading offshore analysts Douglas-Westwood and offshore data specialists Infield Systems. According to the report’s lead author, Dominic Harbinson of Douglas-Westwood


Report Examines ROV Growth

In a recent report, the energy & marine industry analysts Douglas-Westwood, has revealed that operations of cable controlled work-class remotely operated underwater vehicles (ROVs) is a business worth $600 million worldwide and this is forecast to grow to $725 million by 2008. The firm reported these results in ‘The World AUV & ROV Report,’ a new global business study published. In his keynote address to delegates at the ‘Advances in Technology for Underwater Vehicles’ conference in London


Kværner ASA Updates Verdal Accident Situation

Kværner ASA: Serious accident at Verdal: internal investigation completed. Kvaerner's internal investigation following from the serious crane accident at the Verdal yard 8 February 2012 has been completed and the main findings have been presented to the Police and the Norwegian Labour Inspection Authority. The investigation report examines the accident in detail, reviews the existing health and safety procedures in place for work at heights


GAO Critical of Navy Flat-top Program

Artists rendering of CVN 78

In a new report, the US Government Accountability Office (GAO) states that the Navy faces technical, design, and construction challenges to completing 'Gerald R. Ford' (CVN 78) that have led to significant cost increases and reduced the likelihood that a fully functional ship will be delivered on time. The GAO finds: The Navy has achieved mixed progress to date developing CVN 78's critical technologies, such as a system intended to more effectively launch aircraft from the ship


Cummings: Oversight of Safety on Cruise Ships Will Continue

U.S. Congressman Elijah E. Cummings (D-MD), Chairman of the Subcommittee on Coast Guard and Maritime Transportation, led the Subcommittee in conducting a hearing on crimes against Americans on cruise ships following a request made by U.S. Congresswoman Doris Matsui (D-CA). Witnesses included representatives of the Federal Bureau of Investigation and the Coast Guard, a representative of a victims' rights advocacy group, a former cruise passenger


'Emission Manager' Launched by GL

Celebrating GL Emission Manager Launch: Photo credit GL

GL launches “GL EmissionManager” - Hamburg Süd is partner in a pilot project. At SMM 2012 classification society Germanischer Lloyd announced the launch of a new product, “GL EmissionManager”, which will allow owners and operators to collect, track and calculate the emissions of a ship in detail for the first time. In cooperation with German shipping company Hamburg Süd, GL have developed the GL EmissionManager system to systematically capture all


New Report Examines MOL Comfort Casualty

MOL Comfort: Photo courtesy of PTI

Following the loss of the container vessel MOL Comfort on June 17, 2013, ClassNK established a special Casualty Investigation Team in order to investigate and determine the cause of the casualty. Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) further established a Committee on Large Container Ship Safety to develop measures to ensure the safety of large container vessels on August 29, 2013


Fire Aboard US-flagged Car Carrier

A car carrier vessel has suffered a fire on one of its decks, approximately 40 miles off Harwich, the U.K. Maritime and Coastguard Agency (MCA) reported.   The U.S. flagged ship, Courage, reported the fire to the U.K. Coastguard at Dover Maritime Rescue Coordination Center just before 10 p.m., June 2.   Using an inbuilt CO2 system to, crew members flooded a large area to put the fire out and continued their journey. The situation is currently contained.  


Hearing to Address USCG Drug Interdiction Efforts

Crew members aboard the Coast Guard Cutter Vigilant stack seized cocaine at Coast Guard Base Miami Beach, Florida, June 12. On May 22, the crew of the Vigilant and the Coast Guard Cutter Bear interdicted the cocaine worth an estimated wholesale value of $10.9 million. (USCG photo by Mark Barney)

Hearing will examine U.S. Coast Guard’s efforts to stop drug smuggling into the U.S.   The Subcommittee on Coast Guard and Maritime Transportation, chaired by U.S. Rep. Duncan Hunter (R-Calif.), will hold a hearing next week on the U.S


Maersk Line 'Global Carrier of the Year'

Pic: Maersk Line

 Maersk Line has been named Global Carrier of the Year at the Containerization International Awards 2015. It also took home the Shippers’ Choice award, which is voted for by the global container shipping industry.   Maersk Line was named Global Carrier of the Year after one of


Maritime Piracy: Distinguishing Piracy vs. Robbery

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It is important to distinguish between armed robbery and piracy when reporting incidents in South East Asia waters says the Singapore Shipping Association (SSA) which has commissioned a study to determine the scale of threat posed to seafarers in the area.


SUNY Maritime to Host e-Navigation Conference

The e-Navigation Underway 2015 – North America conference will be hosted by The State University of New York (SUNY) Maritime College from September 28 to 30 on the college’s Throggs Neck, N.Y. campus.    The conference’s theme is: “Reducing Risk through


Salvage and Wreck Removal Conference

  HINODE Events and Services Pvt Ltd., have announced the 4th Annual Conference on Salvage and Wreck Removal in India to be held on Wednesday, July 8, 2015 at Visakhapatnam on India's East Coast. This conference is being held for the first time in Visakhapatnam, a busy Dry Bulk Port


H-Energy to Build Floating LNG Terminal in West Bengal and Canada

Niranjan Hiranandani, Chairman, (Pic by Construction Skill Development Council of India)

 Business Standard reported that real estate developer Hiranandani Group plans to set up a INR 2,400 crore floating LNG import terminal off Haldia, West Bengal and supply imported gas to users as far as Paradip in Odisha.   H-Energy Pvt Ltd, the Energy arm of the Hiranandani Group


Japan, US Bolster Submarine Alliance

Commanders from the U.S. and Japanese Navies visited Naval Base Guam, touring the base and examining areas of cooperation, the U.S. Navy reported.   The United States’ Rear Adm. William R. Merz, commander, Submarine Group 7, and Japan’s Vice Adm


USCG Monitors LNG Carrier Repair in Alaska

The U.S. Coast Guard (USCG) is monitoring repairs aboard the liquid natural gas (LNG) carrier Excel in Homer, Alaska.    The vessel was received an order from Coast Guard Sector Anchorage to remain anchored in Kachemak Bay near Homer after the 908-foot


Marine News Editor's Note

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It is at times like this that bumper sticker humor comes in handy. One of my favorites has to be the infamous “God, please let me have another oil boom – I promise not to mess this one up” version that graced the bumpers of pickup trucks on the Gulf Coast in the late 1980’s


Court Allows Eurotunnel-Owned Channel Ferries

Ferries owned by Groupe Eurotunnel and run under the MyFerryLink brand can continue to run between Britain and France, after a British court upheld an appeal from a workers' collective which runs run the ferries. Britain's Competition and Markets Authority (CMA) has been examining Eurotunnel's


SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near Santa Barbara said on Thursday it may take months to restore the area to its natural condition.


DNV GL Examines Safety, Sustainability of Alternative Fuels

DNV GL’s position paper analyses the affordability, sustainability, safety and the reliability of future fuels (Image: DNV GL)

  DNV GL takes a broad view on the cost of safety and sustainability to alternative fuels   Trends in pricing are an obvious factor to consider when examining the feasibility of new fuels, but sustainability and safety also have an impact on the ultimate affordability of change


SoCal Beach Stretch Reopens After Tar Ball Problem

  Officials reopened a stretch of Southern California coastline on Friday after closing it because of tar balls that washed ashore, in a phenomenon authorities are examining for any possible link to an oil pipeline spill. Officials had closed the 4-mile (6-km) stretch of shore in Long


Carnival Bans Bringing Bottled Water Onboard

Image: Carnival Cruise Lines

 Carnival Cruise Lines will stop passengers from bringing bottled water, bottled soda and other bottled nonalcoholic drinks onboard, effective July 9.   Carnival's Liquor and Beverage Consumption Policy Guest has long prohibited guests from bringing alcoholic beverages onboard


Fuel Quality Data Tapped for Fleet Performance

Dr. Torsten Büssow (Photo: DNV GL)

Veritas Petroleum Services (VPS) and DNV GL signed a cooperation agreement to develop a new module for DNV GL’s ECO Insight fleet performance management solution at the Nor-Shipping trade fair. By tapping into the world’s largest fuel sampling database, this module will allow owners






 
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