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
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
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
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
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
Bahrain, Iran Sea Link Examined
A team of businessmen and shipping officials from Bahrain plans to visit Iran to examine the possibility of launching a sea link between the two states, Bahrain's commerce minister said. Local newspapers quoted Ali Saleh al-Saleh as saying the team would meet officials from the public and private sectors in Tehran to discuss linking Bahrain's Salman Port and Iran's southern port of Bushehr. The two countries had agreed to discuss the sea link during a visit to Manama by Iranian Foreign
Cummings: Resolving Deepwater Will Require a Long Term Commitment
U.S. Congressman Elijah E. Cummings (D-MD), Chairman of the Subcommittee on Coast Guard and Maritime Transportation, convened a Subcommittee hearing to examine the Coast Guard's fiscal year 2008 budget and to receive testimony from the U.S. Department of Homeland Security's (DHS) Inspector General, Richard Skinner, and a representative of the Government Accountability Office (GAO), Mr. Stephen Caldwell, regarding their on-going examinations of the Deepwater procurement.
Hearing on CG Acquisitions Process
Today, March 24, Congressman Elijah E. Cummings (D-Md.), Chairman of the House Subcommittee on Coast Guard and Maritime Transportation, convened the Subcommittee to examine steps the Coast Guard has taken to reform and strengthen the policies and procedures it utilizes to manage acquisition processes. Specifically, the hearing examined the extent to which the Coast Guard will be positioned to exercise effective oversight of acquisition efforts as a result of new reforms implemented in
Port Security Advisory – Nations with Inadequate Port Security Measures
The U.S. Coast Guard issued a Port Security Advisory listing nations it has determined to have inadequate port security measures. Ships that have called in any of those nations within the five previous port calls may be subject to increased port state control examination upon arrival in a U.S. port. The enhanced examination may be lessen if the ship establishes a higher security level during the port call, executes a Declaration of Security
Offshore Wind Spend to Average $21B per year
Douglas-Westwood (DW) forecast offshore wind installations averaging 3.2 GW per year over the next ten years with capital expenditure hitting a peak of $24.1B in 2016. The fifth edition of DW’s World Offshore Wind Market Forecast launched today presents a new longer-term forecast and
QinetiQ Updates Ship Design Software
QinetiQ Maritime’s Paramarine software, a ship and submersible design tool, has released its latest version of software including a number of new capabilities. The new functionality in Paramarine V8, developed by QinetiQ GRC, is intended to further meet the needs of commercial ship
Offshore Installations: BSEE to Host Hurricane Preparations Forum
The Bureau of Safety & Environmental Enforcement (BSEE) will host a public forum on offshore energy infrastructure hurricane preparedness and response on Thursday, June 27, 2013, as part of its efforts to improve the safety of offshore oil and gas operations.
Why TWIC?
GAO finds it is broken, and now the question is; can it be fixed? Recently, the U.S. Government Accountability Office (GAO) issued a scathing report on the Transportation Worker Identification Credential (TWIC) electronic reader pilot test and on the TWIC program in general
Mukilteo Ferry Terminal: WSDOT Release Environmental Study
The 60-year old Mukilteo ferry terminal (about 25 miles north of Seattle) is one step closer to replacement with the release of a final environmental impact statement. “We’ve reached a major milestone,” said David Moseley
IMO Symposium on Future of Ship Safety
The IMO Symposium on the Future of Ship Safety will be held 10 & 11 June, 2013, at IMO Headquarters in London. The symposium will include six international panels of high-level speakers from across the broad spectrum of ship design, construction, equipment, operation and regulation
LaHood Appoints Seven to USMMA Advisory Board
U.S. Transportation Secretary Ray LaHood announced the appointment of seven members to the United States Merchant Marine Academy (USMMA) Advisory Board. The USMMA Advisory Board serves as an independent body whose purpose is to examine the course of instruction and management at the Academy and
Logistics Revenues Surpass Pre-recession Levels
The latest report from Ti, Global Transport and Logistics Financial Analysis 2013, reveals the winners and losers in the global logistics industry over what has been a tempestuous six year period. Analyzing the financial accounts of 20 of the world’s largest publicly quoted express
NOAA Report Examines Shipwreck Oil Pollution Threat
NOAA presented to the U.S. Coast Guard today a new report that finds that 36 sunken vessels scattered across the U.S. seafloor could pose an oil pollution threat to the nation’s coastal marine resources. Of those, 17 were recommended for further assessment and potential removal of both fuel
Shipwrecks Pose US Sea Pollution Threat
New NOAA report presented to the US Coast Guard examines national oil pollution threat from shipwrecks in US waters. The report finds that 36 sunken vessels scattered across the U.S. seafloor could pose an oil pollution threat to the nation's coastal marine resources
USCG Schedules Hearing for Kulluk Grounding
A Coast Guard formal marine casualty investigation hearing is scheduled for May 20 at noon, at the Anchorage Loussac Library, Assembly Hall Chambers, to investigate the contributing causes that led to the conical drilling unit Kulluk grounding on Sitkalidak Island Dec. 31, 2012.
American Salvage Association to Consider Non-Tank VRP's
New regulations for non-tank vessel response plans (VRP) to be discussed at upcomingNational Maritime Salvage Conference One issue on the conference agenda will be the new regulations for Non-Tank Vessel Response Plans (VRPs). On March 9, 2013
U.S. Senator Sends Safety Inquiries to Major Cruise Lines
The Senate Committee on Commerce, Science and Transportation said in a news release that Chairman Jay Rockefeller (D-W.Va) sent letters to the three largest cruise liners about their passenger safety, security, and health practices. Chairman Rockefeller’s letters to Carnival, Royal Caribbean
Wan Hai Lines Chooses ClassNK-Napa Green
ClassNK and maritime software company Napa have announced that Taiwan-based Wan Hai Lines Ltd. has chosen ClassNK-Napa Green ship efficiency software for use on Wan Hai 516, a 4680 TEU vessel delivered by CSBC in April 2013. This marks the first time that the operational optimization and
Japan Needs U.S. LNG, But Quickly ...
Japanese trade minister Toshimitsu Motegi calls for early U.S. approval for exports to his country of liquefied natural gas (LNG). The Japanese minister made his request at a meeting with Acting Energy Secretary Daniel Poneman, stating that securing a relatively cheap energy source is crucial for