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Herald Tribune News

22 Jul 2015

Working Toward a Low Carbon Future

Paul Floren (Photo: GE)

Recently, Pilita Clark, the Environment Correspondent at the Financial Times, wrote a very interesting article about a new report, ‘The New Climate Economy’, which I would highly recommend reading. The New Climate Economy was commissioned in 2013 by the governments of seven countries: Colombia, Ethiopia, Indonesia, Norway, South Korea, Sweden and the United Kingdom. Its reports are completely independent, and this latest one highlights some key recommendations which can help support economic growth while reducing carbon emissions…

08 Nov 2012

Drydocks World and Maritime World Chairman Delivers Key Address

Khamis Juma Buamim with HE Boediono, Vice-President of the Republic of Indonesia.

The Chairman of Drydocks World and Maritime World, Khamis Juma Buamim delivered the key address at the Indonesia Investment Summit. The Summit convened by the Investment Coordinating Board of Indonesia - BKPM - in Jakarta in association with The International Herald Tribune on November 6-7, 2012 and hosted by H.E. Susilo Bambang Yudhoyono, the President of the Republic of Indonesia at the Ritz Carlton. The event sought to provide an update on government policy and trading and investment opportunities in Indonesia and global economic transformation. Mr.

19 Jul 2010

This Day in Coast Guard – July 20

1917- An Executive Order extended the jurisdiction of the Lighthouse Service to the non-contiguous territory of the American Virgin Islands. 1942-The Herald-Tribune of July 20, 1942, carried the following story: "A new Coast Guard regiment, made up of tough, hand-picked men, all heavily armed and with the headquarters company mounting machine guns in speedy jeep cars, has been organized for extra protection of the Port of New York, it was announced yesterday. Regimental offices of the commando-like outfit, led by Captain Francis V. Lowden, will be in the Barge Office at the Battery. There will be five battalion headquarters -- one each in Manhattan, Brooklyn, Staten Island and New Jersey, and a floating one set up a harbor patrol craft.

07 Mar 2002

Inmarsat: F77 Extends Offerings

Inmarsat, the original mobile satcom provider for the maritime industry, has been riding the crest of a wave recently, with users at an all-time high, overall 99.9 per cent satellite reliability and the launch of its Fleet F77, Mobile ISDN and Mobile Packet Data services for the maritime community. Ruth Ling reports on what's new and what lies on the horizon. Twenty years ago, a revolution hit the maritime industry. Satellite communications became available to ships at sea. Back in 1982, when Inmarsat began offering onboard satellite communications, its first and only system was Inmarsat A, which offered voice, facsimile, telex and data services. After nine years of successful service and expansion into most maritime sectors, Inmarsat began offering Inmarsat C.

17 Oct 2007

Bohai Bay Oilfield Output to Double

CNOOC reportedly plans to more than double production at the Bohai Bay field to more than 27 million metric tons, or about 542,000 barrels a day, in five to six years as new fields come on stream, according to a report in the Herald Tribune. China is said to be encouraging its oil and gas producers to step up production to meet rising consumption spurred by an economy that rose 11.9 percent in the second quarter. Chinese oil demand will likely increase 5.9 percent to 7.6 million barrels a day this year, the International Energy Agency said in its September forecast. (Source: The International Herald Tribune)

05 Sep 2007

Lion Group to Study Steel Mill

According to reports, Malaysian conglomerate Lion Group is considering plans to build a $7b steel mill in Vietnam as part of its regional expansion. A Lion Group company has teamed up with Vietnam's state-owned Vinashin to conduct a feasibility study of the project, it said in a statement to the stock exchange late Tuesday. Once the feasibility study is completed and approvals are obtained, a consortium will be formed to undertake the steel plant project, said Lion Corp., the group's main investment holding company in Malaysia. The facility is earmarked for completion in the next 10 to 15 years, the statement said. Source: International Herald Tribune

08 Mar 2007

Container Ship Capsizes in Belgian Port

According to the Herald Tribune, a large container ship capsized during loading Thursday in Belgian port city Antwerp, officials said. No injuries were reported. The cause of the capsizing of the Republica di Genova, a roll on/roll off vessel of the London-based Grimaldi Lines, was not immediately clear, authorities said. Grimaldi Group vessels carry containers and Fiat cars from Italy to Antwerp. Port of Antwerp Captain Jan Persi said the 215-meter-long (705-foot-long) vessel slowly rolled onto its starboard side in a dead end dock early in the morning. He said the ship began taking on water and that the captain ordered the crew to evacuate. The white-and-yellow vessel lay resting on its side, part of its hull above the waterline in the dock.

21 Feb 2007

BP Shuts Down Offshore Oil Field in Arctic After Small Leak

BP PLC has shut down an offshore oil field in the Arctic Ocean after a small leak was detected in a gas line, a company official said. The shutdown of the Northstar oil field has taken about 40,000 barrels of oil offline each day since Friday or Saturday. Company officials were not sure when the field would resume operations, but said that the facility had to be shut down in order to fix it. There was no environmental damage and no safety hazard associated with the leak, which was found in an 8-inch (20-centimeter) pipe that is used to handle extraneous gas from the field, reports indicated. The pinhole-sized leak was discovered during a routine inspection of Northstar's wells and processing facilities…

12 Jan 2007

Tankers Collide in Singapore Waters

Two Singapore-registered bunker tankers collided near St John's Island resulting in a 200-ton oil spill, maritime officials said. No one was injured in the crash Thursday and most of the spill was cleaned up, the Maritime and Port Authority - said. The Seafalcon and the Frontek were sailing from opposite directions and rammed into each other 500 miles south of the island in Singapore's waters, the MPA said. The tankers operate as 'floating fuel stations' that refuel ships sailing to and from other countries. The collision damaged one of the Seafalcon's 10 tanks. The Frontek's bow was damaged, but no oil spilled from it. The MPA had dispatched five-anti-pollution craft to the scene. The clean-up continued late into the night.

03 Jan 2007

Ships Ready to Repair Undersea Cables

Taiwan's Chunghwa Telecom Co. said two repair ships will soon start fixing undersea cables damaged last week by an earthquake off the island's coast that resulted in a major disruption to telephone and Internet links across Asia. The two ships will take two to three weeks to complete their task, said a senior official at Chunghwa Telecom, Taiwan's largest telecommunications company, the International Herald Tribune reported. One of the ships is Japanese registered and sailed to Taiwan from Japan. The other, British registered, sailed to Taiwan from the Philippines, he said. Both are specially equipped to repair undersea cables and had to complete other repair work before setting out for Taiwan. The Dec.

28 Dec 2006

Report: China Wants to Bolster Naval Power

The Chinese president, Hu Jintao, has called on top military commanders to build a powerful navy, the state media reported as China continues to spend heavily on a modern, blue-water fleet. In a speech to navy officers attending a Communist Party meeting Wednesday, Hu said China was an important maritime nation and the navy should be ready to protect the country's interests at any time, according to reports. His comments also reinforce the views of senior Chinese military officers who argue that China needs a navy that can deploy far from the country's coastline to protect its huge maritime, trade including crucial imports of oil and raw materials. China has a fleet of more than 50 submarines, including modern Russian and domestic designs, that could pose a major threat to U.S.

24 Oct 2006

Lifeboat Repairs Shut Down Statoil Oil Fields

Statoil said it aims to restart 200,000 barrels per day of offshore oil production early this week after lifeboat repairs, according to an AP report in the International Herald Tribune. The company was forced to shut down its Snorre A platform and the linked Vigdis platform on Oct. 13 because an industry study found defects in lifeboats essential to evacuating crew in a crisis. A Statoil spokesman said the lifeboats were being upgraded and repaired, and that the best case scenario had production restarting late on Tuesday (October 24). The spokesman also the company's 140,000 barrel per day Heidrun field resumed production on Friday, after it was shut down Wednesday due to bad weather. Snorre A and Heidrun both use the lifeboats that were found to be defective.

23 Feb 2006

Lebanon Plans for Floating LNG Plant

Lebanon is planning to establish a floating Liquid Natural Gas (LNG) plant to feed natural gas directly to the country's power stations. Lebanon has been trying to adopt an alternative energy program for years, by diversifying its fuel sources and reducing its dependence on imported oil. With the government shouldering the mounting losses of ElectricitŽ du Liban - which meets Lebanon's annual energy consumption requirements using oil imports - the need to switch to switch to gas has become even more pressing. As part of the new energy strategy, Lebanon plans to build a natural gas pipeline along the coast to feed all its power plants. Up to 2004 the government did a lot of preparatory work to establish an off-shore national gas transmission pipeline from the North to the South.

02 Feb 2006

More Big Tankers, Lower Profits?

The abundance of big tankers, the very large crude carriers (VLCCs) of some 300,000 deadweight tons, makes several analysts express reservations about the projected revenues of the category this year. In 2005 the revenues of VLCCs dropped by 40 percent compared with the "golden" year 2004 when a lack of vessels and the great increase in demand pushed freight rates to extremely high levels. Analysts expect the current trend to continue and forecast an additional decline of profits by 30 percent for the entire year. On the positive side, shipowners are generally optimistic about the market, as daily rates for VLCCs carrying oil from the Middle East and from West Africa come to at least $100,000.

11 Oct 2005

Korea May Limit Bidders for Daewoo

A South Korean state agency that is jointly selling 51 percent of Daewoo Shipbuilding & Marine Engineering said that it might reject bids from companies that did not support national interests, according to a Bloomberg report published in the International Herald Tribune. Korea Asset Management, which liquidates distressed assets at financial companies, plans to sell its stake in Daewoo Shipbuilding, which it owns with Korea Development Bank, next year. South Korea, the world's biggest shipbuilder, is facing increased competition from China and may lose its top ranking should Daewoo Shipbuilding be sold to foreign interests. Five years ago, Korean shipyards had 49 percent of all new orders by deadweight tonnage, according to Clarksons, a London-based shipping services company.