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
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
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
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
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
The rising demand for cleaner and flexible energy from two emerging major economies, China and India, may keep the petrochemical market tight, although the shale gas boom in the US is disturbing energy markets around the world, considers the International Energy Agency's (IEA) 'World Energy Outlook
The Tanker Safety Expert Panel, an independent panel appointed to review Canada's current tanker safety system and to propose measures to strengthen it, has released its report: 'A Review of Canada's Ship-Source Oil Spill Preparedness and Response Regime—Setting the Course for the Future.'
Offshore Patrol Vessels Middle East 2014 examining maritime security challenges in region, world As policy leaders wrapped up the Manama Dialog, an international security conference in Bahrain, maritime and naval leaders commenced their meetings in Abu Dhabi to discuss practical implementation
Inlecom Systems Ltd., the transport and logistics research and innovation company, has launched the first ever guide and checklist to enable maritime authorities and trade organizations to fulfill their obligation to deliver ship reporting formalities in electronic format via a Single Window
The International Bunker Industry Association (IBIA) has called on the South African government to realise the potential of the ship refuelling market in its ports and the impact this will have in supporting regeneration. Speaking at the recent African Ports Evolution conference in Cape Town
The Managers have recently completed production work on the Club’s latest Loss Prevention DVD -“ Groundings – Shallow Waters, Deep Trouble”. The consequences of a vessel running aground vary in severity, but they are potentially devastating
A new NOAA report that examines national oil pollution threat from shipwrecks has been presented to the U.S. Coast Guard. With as many as 20,000 recorded shipwrecks in NOAA’s database, the May 2013 report finds that just 36 sunken vessels scattered across the U.S
Offshore Solutions BV (OSBV), the joint venture between AMEC and Cofely Nederland NV, has signed a North Sea contract with Maersk Oil UK to provide marine access support to the floating production, storage and offloading (FPSO) unit Global Producer III.
The U.S. Coast Guard announced Thursday that mariners whose credentials expire between Oct. 1 and Nov. 30 will receive an extension due to the current lapse in appropriations. The Coast Guard is currently unable to process all mariner credentials in time to ensure that all
Last month, I had the opportunity to testify before the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation at a hearing that examined maritime regulations. In what must have been a change of pace for Subcommittee members
Insurance: Ship Repairers and Marine Equipment Installers Operating on both land and water, ship repairers and marine equipment installers tackle a variety of tasks from general maintenance and repair, to upgrading electrical systems, to installing state-of-the-art navigational systems
The Panel on 21st Century Freight Transportation published its final report on United States freight transportation, offering an assessment of its current condition with recommendations for strengthening nationwide infrastructure and U.S. economy.
Tschudi Shipping Co., one of Norway's oldest shipping firms, will begin exploring the possibility of establishing a transshipment port in western Alaska, Lt. Governor Mead Treadwell said today. Treadwell, who leads the state's work with the eight-nation Arctic Council
In September 2013 the U.S. Integrated Ocean Observing System (IOOS) launched a study to determine the ocean observation sector's impact on the U.S. economy. This nationally-focused effort will inventory companies classified as providers of technology to U.S
Following recent reports in the media regarding the use of Emergency Position Indicating Radio Beacons (EPIRBs) the Department of Transport, Tourism & Sport wishes to clarify the position regarding the approval and use of EPIRBs in Ireland.