France Seizes Yacht Reportedly Belonging to Rosneft Boss Sechin
French customs have seized a yacht belonging to Rosneft boss Igor Sechin as it tried to leave the Mediterranean port of La Ciotat in a breach of EU sanctions on Russian oligarchs, Finance Minister Bruno Le Maire said.The move came as western states are implementing massive sanctions, including asset freezes, against Russia for invading its neighbor Ukraine. A separate nearly $600 million luxury yacht owned by Russian billionaire Alisher Usmanov has also been seized, by German authorities, Forbes reported. The 88-meter "Amore Vero" arrived in La Ciotat on Jan.3 and was due to stay there until April 1st for repairs, the finance ministry said in a statement…
Positive Trends Mark Start to Port Authority Year
Notable accomplishments in revenue generation, cargo throughput, professional performance and international recognition highlighted today's monthly meeting of the Port Commission of the Port of Houston Authority (PHA). Executive Director Roger Guenther, in his first meeting since being named to the post, characterized January's numbers as "a very exciting start to the new year" with operating revenue of more than $20 million. Guenther cited across-the-board increases in all major areas of cargo as the driver behind a 3-million-ton month for January, which was 15 percent higher than the year before. A contributor to that January figure was 400…
Vale’s Valemax Ships Regain Admittance to Asian Ports
Vale SA of Brazil said it has increased access of its Valemax iron ore carriers to Asian ports. The company even docked one of its ships in China where a ban on the giant vessels has been in effect for more than a year, Reuters.com reported. Reuters reported on April 18 that the Vale Malaysia docked at China's port of Lianyungang April 15 and left April 17 after unloading its cargo, but the 402,285 deadweight ton (dwt) ship, one of the world's largest bulk freighters, was only partly loaded. The company hopes the giant ships will help slash costs of shipping ore to China, the world's largest iron ore market and compete with Australian rivals BHP Billiton Plc and Rio Tinto Plc, whose mines are closer to Chinese customers.
Canadian Shipyard Gets Government Finance for Naval Ship Construction
Irving gets $304 million assistance for next-generation naval ship construction from Nova Scotia authority Irving Shipbuilding Inc. is getting $304 million from the Nova Scotia government to help prepare for the construction of the Royal Canadian Navy's next fleet of vessels, according to a CBC news report. The government's assistance package, includes a forgivable loan worth up to $260 million and a repayable loan of $44 million for human resources, technological and industrial development. The company said it needed provincial support to be the winning bidder for the federal $25-billion shipbuilding contract to build 21 combat vessels. The contract is expected to maintain a steady flow of work at the Halifax Shipyard over the next 20 to 30 years.
Shipyard Modernization Grant for Small US Yards
U.S. Transportation Secretary Ray LaHood today announced $9.98 million in grants to 15 small shipyards throughout the United States to pay for modernizations that will increase productivity and help the country’s small shipyards compete in the global marketplace. “In cities and towns across America, shipyards are creating jobs and keeping our nation's economy growing," said Secretary LaHood. The U.S Maritime Administration’s (MARAD) Small Shipyard Grants Program provides equipment and technical skills training for America’s maritime workforce, helping these businesses compete in the global marketplace while creating well-paying jobs at home.
