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Eurasia International News

28 Jun 2014

APM Terminals Leads Productivity Rankings Again

The JOC Group’s latest study of port productivity data, covering the year 2013, retains APM Terminals Yokohama as the world’s leading container terminal in productivity with 163 container moves per vessel hour (MPH). MPH, respectively. “We’re very proud of the team effort which produced these results for our customers,” said Jeff De Best, APM Terminals Chief Operating Officer. “Our approach is very simple: constant dialogue with our customers, intense pre-planning and then process discipline when the vessel is alongside. The goal is to make an APM Terminals port call like a Formula 1 pit stop. APM Terminals Yokohama’s 2013 productivity performance reflected an 8.7% improvement over last year’s industry-leading 150 MPH…

09 Jun 2005

Useless Judgment Doctrine Moots Appeal

The U.S. Court of Appeals for the Fifth Circuit ruled that, under the useless judgment doctrine, it lacked jurisdiction to consider an appeal. In the instant case, plaintiff ship manager operated a ship for the owner. The ship was subject to a preferred ship mortgage and also subject to various liens held by suppliers of necessaries. When the owner did not pay as promised, plaintiff filed an in rem claim and had the ship arrested. The other claimants also filed their claims. The ship sale did not bring sufficient monies to pay all the claims. Following a hearing, the court denied various claims asserted by plaintiff and then ranked the various claims such that the monies were dissipated before plaintiff’s claim arose. The court then directed that the claims be paid in rank order.

01 Jun 2006

Omega Navigation Takes Delivery of Tanker

Omega Navigation Enterprises, Inc. took delivery of its Panamax (LR1) double hull product tanker, the Rudolf Schulte, to be renamed the Omega Queen. The Omega Queen is a Panamax (LR1) double hull product tanker of 74,999 deadweight ton (dwt) built by Hyundai Heavy Industries, South Korea in 2004. The acquisition was funded by in part from proceeds of the Company's initial public offering and debt under a senior secured credit facility provided by HSH-Nordbank AG. The Omega Queen is employed under a long-term time charter to A/S Dampskibsselskabet TORM until May 2009 at a daily time charter hire rate of $26,500. The company has granted Torm an option to extend the charter for 24 months at a minimum daily time charter hire rate of $28,500.

16 Jun 2006

Omega Navigation Takes Delivery of Tanker

Omega Navigation Enterprises, Inc. (has taken delivery of its second Panamax (LR1) double hull product tanker, the Everhard Schulte, to be renamed the Omega King. The Omega King is a Panamax (LR1) double hull product tanker of 74,999 deadweight tons (dwt), built by Hyundai Heavy Industries, South Korea in 2004. The acquisition was funded by in part from the net proceeds of the Company's initial public offering and debt under a senior secured credit facility provided by HSH-Nordbank AG. The Omega King is employed under a long-term time charter to A/S Dampskibsselskabet TORM until June 2009 at a daily time charter hire rate of $26,500. The Company has granted Torm an option to extend the charter for an additional period of 24 months at a minimum daily time charter hire rate of $28,500.