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
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
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: 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
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
Navigation safety and environmental protection in the Straits of Malacca and Singapore could further improve following a detailed investigation into accident reports by the International Chamber of Shipping (ICS). ICS (as part of a wider initiative being undertaken by the Round Table of international shipping associations) has conducted a survey of incident reports which it is anticipated will result in the development of agreed proposals to enhance the management of traffic in the Straits
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
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
A ship management company has been fined $283,500 in connection with a breach of clean air regulations in the United States, the International Transport Intermediaries Club (ITIC) has confirmed. ITIC reports that an inspector of the California Air Resources Board
The 2nd Annual Wargame Planning Session is being conducted by the Naval Postgraduate School’s (NPS) Littoral Operations Center (LOC) in Monterey, Calif., on April 23, 2015; followed by a Surface Warfare - Littoral Combat Innovation Workshop on April 25, 2015.
The Subcommittee on Coast Guard and Maritime Transportation, chaired by U.S. Rep. Duncan Hunter (R-Calif.), will hold a hearing next week to examine how the U.S. Coast Guard (USCG) allocates hours and resources among its multiple statutory missions
Chevron’s new 100BN cylinder oil Taro Special HT 100 offers ship owners the ability to achieve the latest emissions legislation and has now received interim approval for its use in another key engine range – products made by Winterthur Gas & Diesel Ltd (formerly Wärtsilä)
The next phase of transportation technology, which could eventually replace the entire shipping industry, is under development, Forbes reported today. In a 3,500 word feature that will appear in the March 2nd issue, Forbes staff writer Bruce Upbin examines two companies that are racing to design
With its vast and beautiful coastline, virgin forests and undisturbed idyllic islands, rich historical and cultural heritage, India may get some fillip in cruise tourism in the months to come. A report in Business Standard says that a high-level meeting of the Bureau of Immigration
U.S. shellfish producers in the Northeast and the Gulf of Mexico will be most vulnerable to an acidification of the oceans linked to climate change that makes it harder for clams and oysters to build shells, a study said on Monday. The report said the two regions would be more at risk in coming
Conservative think tank The Heritage Foundation argued for increased U.S. port cybersecurity in a report published online this week. "The U.S. Department of Homeland Security (DHS) and maritime stakeholders need to stay ahead of [cybersecurity] risks in order to keep trade flow
The Brookings Institution, a Washington D.C.-based think tank, will host a two-panel discussion on the use of LNG as a marine fuel on Tuesday, March 3, the organization announced today. The panels are part of the Institution's Energy Security and Climate Initiative (ESCI)
The U.S. Navy has deployed underwater drones beneath the ice in the Arctic Ocean to assess how quickly the ice is melting and understand how soon the U.S. and Russia will be competing for strategic waterways in the region, reports Sputnik.
As offshore field developments in the North and Norwegian Seas face maturity, operators on the Norwegian Continental Shelf (NCS) are looking to the more remote areas of the Barents Sea for further development. Here harsher environmental conditions
U.S. Coast Guard, shipping industry professionals, to speak on cyber security issues at CMA Conference Jeffrey G. Lantz, Director of Commercial Regulations and Standards for the United States Coast Guard’s Assistant Commandant for Marine Safety
Privatization of Limassol Port, a port of multiple uses, is the main port of Cyprus, will be officially launched by the end of April with a call for expression of interest, says the Minister of Communications and Works Marios Demetriades.
Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies in Finland during the 2015-2016 academic year and the 2016-2017 academic year.
The US Navy is developing a duck-like drone, the Flimmer (Flying Swimmer), that can both fly and swim. The drone, it says, can reach operational areas more quickly by flying over the surface of the water. In addition to both a rear-facing propeller and wings