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China, Vietnam Want Amicable Sea Dispute Solution

China and Vietnam agreed on Monday to use an existing border dispute mechanism to find a solution to a territorial dispute in the South China Sea, saying they did not want it to affect relations. The two countries have sought to patch up ties since their long-running row erupted in May, triggered by China's deployment a drilling rig in waters claimed by the communist neighbours, which lead to confrontation at sea between rival vessels and violent anti-Chinese protests in Vietnam. After a meeting between China's top diplomat, State Councillor Yang Jiechi, and Vietnam Foreign Minister Pham Binh Minh in Hanoi, China's foreign ministry said they had agreed to "appropriately handle the maritime problem". The two exchanged smiles and warm handshakes in contrast to Yang's last visit in June, which ended in acrimony with Yang accusing Vietnam of "hyping up" their dispute, which was the worst breakdowns in their relations since a brief border war in 1979. The rapprochement began in late August, a few weeks after Vietnam started courting other countries embroiled in maritime rows with China, including the Philippines and China's biggest investor, Japan, which will provide boats and radar equipment to Vietnam's coastguard. Most significant for Vietnam has been improvements in its defence ties with former foe the United States, including an Oct. 2 U.S


CMB Continues Fleet Rejuvenation

CMB confirmed that its subsidiary, Bocimar and Wah Kwong, have sold the panamax vessel Yasmine Venture (2006 - 73,546 dwt) - ordered in joint venture in 2003 from Jiangnan (China) - to Diana Shipping. The net sale price amounts to $39.6 million, and CMB will realize a capital gain of approximately $5.5 million on this sale. Also, Bocimar and Oak Maritime have concluded an agreement with Chang Myung Shipping (Korea) for the sale of the joint venture vessel Mineral Oak (1996 - 165,693 dwt).


Yang Ming Sales Sag

Taiwan's Yang Ming Marine Transport Corp., the island's largest shipping firm in terms of revenues, said on Thursday it made sales of T$3.75 billion in May, down 1.37 percent from the same month in 2000. That brought accumulated sales in the January-May period to T$19.85 billion, a 5.17 percent rise from the corresponding period last year. May sales were down 13.8 percent from T$4.35 billion in April. - (Reuters)


Quarders Joins Intellian

Intellian selected David M. Quarders as its new Director of VSAT Sales for the Americas. A veteran in both marine electronics and the communications industries, Quarders will help to drive sales growth for Intellian’s VSAT communication antenna line.  “We are very proud to have David join the Intellian team,” said Eric Sung, president and CEO of Intellian. “Intellian has experienced tremendous growth in the Americas in just a few short years


Bourbon Sells Two AHTS in Planned Modernization Program

Bourbon Surf: Image courtesy of Bourbon

Bourbon announces the sale of the 'Bourbon Surf' and 'Bourbon Borgstein', two large 10-year old Norwegian built AHTS (Anchor Handling Tug Supply) vessels for a total amount of US$130 million, generating a total capital gain of approximately US$63 million. Bourbon will continue to operate the two ships for a minimum period of 2 years to a maximum period of 5 years, with an annual bareboat charter cost of 13% of the transaction value.


Kongsberg Appoints New Managing Director

Leif Kristian Weum (left) is taking over the helm from Managing Director, Terje Dyhre (right). Photo by Kongsberg Maritime AS

 Leif Kristian Weum has been appointed to the position of Managing Director of the Kongsberg Maritime Sales and Service office in Athens, Greece.    Kongsberg Maritime Hellas SA is a key Sales & Customer Support office established to serve the significant number of Greek shipping companies, located in the Athens area.   Having served on the Kongsberg Maritime Hellas SA Board of Directors since the office was opened in 2011 and in various customer support and sales


Brandsborg - Danfoss-Sea Recovery

Freddy-Brandsborg_web.jpg

Freddy Brandsborg joins Danfoss-Sea Recovery to manage Commercial Marine and Offshore sales in Europe, the Middle East, and Africa. He will operate out of the company's Danish location to create new partnerships with many of the shipping and offshore oil companies throughout the region Brandsborg brings with him almost 30 years of experience in the marine and offshore industry. As a mechanical engineer, and later a sales engineer


Schottel Appoints Saudia Arabia Partner

Schottel, German manufacturer of propulsion and steering systems for ships and offshore applications has appointed Modern Power Marine Services as official Schottel sales and service partner for Saudi Arabia in July 2010. With this cooperation Schottel will provide a direct after sales support on this market and will tighten the close relationship to their customers with the focus on long term partnership and customer dedication.


DOF Installer Sells Offshore Vessel

Photo: DOF Subsea AS

DOF Subsea AS subsidiary, DOF Installer ASA, reported the sale of one of its three sister ships, an anchor handling tug supply (AHTS) vessel, to an international buyer. According to the company, the sale will release approximately $1.7 million for the DOF Group after redemption of debt. Delivery to the new owners is expected late 2014.


Goldenport Sells Thira

Goldenport Sells Container Vessel Thira

  Goldenport Holdings Inc.  the international shipping company that owns and operates a fleet of dry bulk and container  vessels, announces today the sale of a container vessel, 'Thira'.   The Company has agreed the sale of the 1997 built container vessel to an unaffiliated third party, "BSL Thira Shipping Limited", for a cash consideration of US$6.85 million. The vessel's delivery is due to take place on 21 July 2015.  


Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.   The company, which exports diesel and gasoline to markets in the southeastern Mediterranean and the Balkans


Damen Trading Sale hits 500th Vessel

Damen Trading 30 years

30 years and 500 vessels later, Damen Trading is just getting started. Damen Trading’s story begins in 1986, with Damen Shipyards Group responding to growing market demand for used vessels. Since then, Damen Trading has gone on to sell over 500 used vessels, right across the maritime spectrum


Seaspan Raises $80 Mn from Shares Sale

Image Courtesy Seaspan Corporation

Seaspan Corporation announced today the close of the sale of its previously announced public offering of 3,200,000 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") for gross proceeds of $80 million.


STX to Slash Jobs, Sell Yard

Photo by STX Offshore & Shipbuilding Co., Ltd

 To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.   The country's fourth largest shipyard filed for receivership in May


MN100: Dometic

(Image: Dometic)

The Company: Dometic develops products that make life on the water more comfortable and productive. An engineering leader of innovative products for the global marine industry with the largest worldwide sales and service network, products include air conditioning, ventilation, air purification


Damen Now Offfers AEC Scrubbers

(Photo: Damen)

Damen Shipyards Group said it has signed a sales agreement with scrubber producer AEC Maritime, meaning Damen will now be able to offer ship owners exclusive access to efficient, low maintenance and IMO-certified exhaust gas scrubber technologies.  


Norsafe Exhibiting Record Breaking Lifeboats at ONS

GES 50 MKIII  (Photo courtesy of Norsafe)

Norsafe, a leader in marine life-saving equipment, will be showing its world record breaking freefall lifeboat at the Offshore Northern Seas (ONS) show in Stavanger, August 29, to September 1, 2016. The GES 50 MKIII broke the world record on June 25


MN100: Baker, Lyman & Co., Inc.

Corinne Titus (Photo: Baker, Lyman & Co., Inc.)

The Company: A wheelhouse favorite for generations, Baker, Lyman & Co. is the oldest NOAA & Admiralty Chart Agent in the United States. Baker Lyman has been provisioning vessels with nautical charts, electronic charting systems, publications, safety/educational materials


SC Fisheries Research Vessel Repowered

(Photo: Ryan Collins)

 A fisheries research vessel operated by the South Carolina Department of Natural Resources (SCDNR), was recently repowered with new eco-friendly fuel-efficient engines from Volvo Penta.   The vessel R/V Palmetto underwent an overhaul at the Metal Trades shipyard near Charleston, S.C


MN100: Voith Turbo

(Image: Voith Turbo)

The Company: Voith Turbo specializes in the design, manufacture and servicing of high performance driveline equipment. From drive components to electronic drive systems, technology from Voith Turbo impacts a wide variety of markets, including ship technology


European Owners Lead in Buying Up Secondhand Tonnage

Graph: Clarkson Research Services

 With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.   While Europe has been the main buyer region


Ocean Signal, AMI Marine Unveil E101V Float-Free EPIRB

Ocean Signal E101V float-free EPIRB with integrated VDR memory capsule

Marine communications specialist Ocean Signal and VDR manufacturer AMI Marine will introduce a new float-free EPIRB with integrated voyage data recorder (VDR) memory capsule at this year’s SMM in Hamburg. The Ocean Signal E101V provides a reliable and innovative solution for commercial


MN100: Reintjes GmbH

Image: Reintjes GmbH

The Company: Founded in 1979, Reintjes GmbH is an independent propulsion technology company that manufactures thousands of gearboxes annually. More than 90,000 units have been supplied to customers worldwide. Over time, Reintjes has expanded its product portfolio of marine gearboxes for engine


Five Minutes with Paul Switzer

Paul Switzer (Photo: Viega)

Five minutes with Paul Switzer - Manager, Shipbuilding & Offshore, Viega   For readers not familiar with Viega, please give a ‘birds eye’ view, putting the company in perspective in terms of the products and services you provide, global reach, etc.


US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper






 
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