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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)


Globe Wireless Establishes New Office

Globe Wireless has established a new office in Houston, Texas, and appointed Greg Halverson as regional manager of Offshore Sales. Halverson will lead the company's GlobeOffshore® sales efforts in the Gulf of Mexico as well as lending support to Offshore sales worldwide. With more than 16 years of sales experience, including seven years selling communications solutions to the offshore industry, Halverson has had a variety of sales and management positions with MCI Telecommunications


Monico Promotes Walker Sales VP

Following another strong year for the company, President and CEO, Doyle Taylor, has promoted his Vice President of Sales, Allen Walker, to Vice President and General Manager of the Monico Monitoring, Inc. Taylor brought Walker on board in September of 2012 as Vice President of Sales to oversee the company’s ever-growing product sales and expanding sales staff, to utilize his business and management experience to bring more structure and drive to the company’s sales process and


Cummins Reports Revenue Jump in Q2 2014

Tom Linebarger

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Revenues in North America increased 14 percent while international sales decreased 1 percent compared to the second quarter a year ago


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


Final Details for Upcoming Central GOM O&G Lease Sale

New Orleans -- Today the Obama Administration provided final details for the Central Gulf of Mexico lease sale announced by President Obama in January 2012, as part of his administration’s ongoing focus on expanding safe and responsible production of our domestic energy sources. Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau today announced the Final Notice of Sale for a June 20


Obama Admin. Announce 21 Million Acre Oil and Gas Lease Sale

August Auction to offer all Unleased Acreage in Western Gulf of Mexico   As part of President Obama’s all-of-the-above energy strategy to continue to expand domestic energy production, Secretary of the Interior Sally Jewell and Acting Assistant Secretary for Land and Minerals Management and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced that Interior will offer more than 21 million acres offshore Texas for oil and gas exploration and development


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.


Eni Mulls Mozambique LNG Supply Deal

Italian oil and gas group Eni is holding discussions with a potential buyer of liquefied natural gas (LNG) supply from its floating export project in Mozambique, an executive said on Thursday. "We are in discussions with a potential buyer, a key term agreement has been finalised


Diana to Acquire Two Post-Panamax Containerships

Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated third party two Post-Panamax container vessels, the m/v Rotterdam and the m/v Hamburg.


Hapag-Lloyd Names Haeser Next CCO

Thorsten Haeser (Photo: Hapag-Lloyd)

Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales activities as chief commercial officer (CCO). Haeser, a law graduate, is currently managing director of Versatel GmbH


Royal Caribbean's Profit Rises 34 Percent

Royal Caribbean Cruises Ltd, the world's second-largest cruise operator by revenue, reported a 34 percent rise in quarterly profit as passengers spent more onboard and demand rose for its Caribbean cruises. Net income rose to $185 million, or 84 cents per share


French Ferry Workers Blockade Channel Tunnel

Protesting ferry workers temporarily blocked French road access to the undersea rail tunnel linking France to Britain on Tuesday, a Eurotunnel spokesman said. Employees of the Eurotunnel-owned MyFerryLink service - whose ferries the company plans to sell - brought traffic in the tunnel to a


Golar Receives Financing Commitment for GoFLNG Hilli

Golar LNG Limited has received an underwritten financing commitment for its first GoFLNG project from CSSC (Hong Kong) Shipping Co. Ltd (CSSCL) in relation to a conversion financing and sale and leaseback transaction for the GoFLNG Hilli, the company announced today.  


Senate Transport Bill Eyes Crude Sale from US Petroleum Reserve

The U.S. Senate's new transportation funding bill proposes the sale of 101 million barrels of crude oil from the government's Strategic Petroleum Reserve in the fiscal 2018-2025 period, collecting $9 billion to fund road and rail projects.  


Eurostar Breaks Passenger Growth Record, Despite Calais Strike

Photo: Eurostar International Limited

 Channel Tunnel rail operator Eurostar has reported record quarterly passenger numbers despite the disruption caused by strikes in Calais.   Around 2.8 million passengers travelled on the high-speed service in the second quarter of this year, an increase of 3 per cent on last year.


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


US Slaps Sanctions on Singapore Shipping Firm over North Korea Links

Image: Senat Group

 The United States imposed sanctions on a Singapore-based shipping firm and its president, alleging they are supporting illicit arms imports into North Korea.   The Treasury Department said that Senat Shipping Company was providing extensive support to Ocean Maritime Management Company


Carnival’s Fathom Names Senior Sales Leader

Michelle Sutter (Photo: Fathom)

Carnival Corporation's new brand Fathom has appointed Michelle Sutter as a company senior sales leader. Sutter will be responsible for marketing and business development supporting sales of the new “social impact travel” brand.  


Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to maintain its role as the world's top bunkering hub. The move to issue bunker supplier licences to the gas sector complements the


Diana Containerships Sells Panamax Ship

Diana Containerships Inc. sells Panamax containership, the m/v Cap Domingo   Diana Containerships Inc. today announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2001-built vessel m/v Cap Domingo


Neptune Orient Lines Logs Q2 Profit

Singapore's Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion. "The group's container shipping business continued to face a challenging environment characterised by


Vale Sells Four 'ValeMax' Bulkers to China Merchants

A ValeMax very large ore carrier (file image: Vale)

Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China's state-owned China Merchants Energy Shipping Co in September. The 400,000-deadweight-tonne ships






 
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