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
Global risk and crisis management consultancy NYA International today releases its 2016 Kidnap and Piracy Map, accompanied by the Global Kidnap Review, a special report examining kidnap for ransom over 2015 and identifying themes for 2016. Together, the map and report provide a guide on the threats to people and operations worldwide. Intensified civil conflicts in Africa, entrenched criminality in Latin America and the advance of Islamist militancy in spaces worldwide have
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
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
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
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
Maritime Administrator Jaenichen, Vice Mayor Lowenthal Host Town-hall style Forum on Beyond Traffic Framework U.S. Maritime Administrator Paul “Chip” Jaenichen and Long Beach Vice Mayor Suja Lowenthal today hosted the third of 11 nationwide regional forums on the Beyond Traffic draft framework at Long Beach Convention Center. The Beyond Traffic report examines the trends and choices facing America’s transportation infrastructure over the next three decades
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
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
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
India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities of the Indian Navy’s soon-to-be-inducted Scorpene submarines.
In the first half of 2016 the Rickmers Group generated consolidated revenues of €249.3 million ($279 mln), 13.9 percent lower than in the corresponding period in 2015 (€289.6 million, $324 mln). The main underlying factors are the persistently strained market situation
The voyage data recorder (VDR) from El Faro, a U.S. flagged cargo ship that sank during Hurricane Joaquin in October 2015, has been recovered from the ocean floor late Monday evening, the U.S. National Transportation Board (NTSB) said.
Coast Guard crews are enforcing a safety zone on the Hudson River around the Tappan Zee Bridge after a crane collapsed Tuesday afternoon. At approximately 12:15 p.m., Tuesday, Coast Guard Sector New York received a report of a partial crane collapse across the western end of the Tappan Zee Bridge
The situation of the shipyards in the world and in particular the struggles of the Korean shipbuilding industry has received a fair amount of attention in the shipping press, as well as in more general news outlets. Poten and Partners discusses about the outlook for vessel deliveries in the
ClassNK released its annual report on Port State Control. The report aims to assist ship operators and management companies in maintaining compliant operations by providing information about ships detained by PSC as well as deficiencies that were found on board from many port states in 2015.
Chairman Duncan Hunter (R-CA) Subcommittee on Coast Guard and Maritime Transportation Hearing on “An Examination of the Maritime Nuclear Smuggling Threat and Other Port Security and Smuggling Risks in the U.S.” The subcommittees are meeting today to examine the efforts of the
Italian emergency workers have recovered 217 bodies from the wreck of a boat that sank in the Mediterranean in April 2015, killing some 500 migrants, the Navy said on Thursday. The sinking was one of the worst known disasters involving migrants trying to reach Europe by sea
DNV GL has issued a report on fire incidents in Ro-Ro spaces to address growing safety concerns in this segment and provide guidance to shipowners. DNV GL’s “Fires on Ro-Ro decks” has examined fires within Ro-Ro spaces on Ro-Pax vessels
e-Navigation and the Gulf Area: Meeting Information Needs Where Blue Water, Brown Water and Port Facilities Intersect An event examining the role, development and trends in maritime e-Navigation is scheduled for October 17-19, 2016 at the San Jacinto College Maritime Campus in La Porte
U.S. investigators on Friday concluded two weeks of hearings into the sinking of cargo ship El Faro in a hurricane last fall that included reports the vessel had outdated weather data and testimony from some of the last people to see it.
Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar the first foreign port which India is involved in developing to such a large extent.
U.S. Coast Guard investigators on Monday resumed a probe of last year's deadly sinking of the El Faro off the Bahamas, beginning two weeks of hearings to examine the cargo ship's operations, weather forecasts and regulatory oversight. Captain Eric Bryson
The U.S. Coast Guard will conduct a second round of public hearings May 16-27 for the Marine Board of Investigation into the loss of the U.S.-flagged cargo ship El Caro, and its 33 crewmembers. The Coast Guard completed its first round of hearings in February 2016.
Drewry Supply Chain Advisors’ whitepaper finds that the traditional gateway ports in North-West Europe no longer hold all of the trump cards. A recently published whitepaper from Drewry’s Supply Chain Advisors looking at the ‘Best Routes’ for containerised