Independent Online News

U.S. shipbuilder Huntington Ingalls Industries (HII) was named one of America’s best employers for new college graduates in 2018 by Forbes. HII was ranked 21 of 250 employers in the nationwide survey.Forbes derived the list from a series of independent, online surveys of more than 10,000 young professionals working for organizations with more than 1,000 people in their U.S. operations. The surveyed employees were asked to give their opinions on a series of statements surrounding their employer’s atmosphere and development…

Shock Mitigation brings together market analysis, communication, training and specialist online resources that link manufacturers and international decision makers. The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview of how this sector is rapidly changing. The objective is to communicate clear information to all levels of audience. For OEM boat builders and equipment manufacturers…

SGX Mainboard-listed Chemoil (SGX-ST: CHEL.SI), supplier of marine fuel, announced its acquisition of OceanConnect Holding’s (OCH), marine fuel business. The purchase price as agreed by both parties is expected to be approximately $25m and took into account factors such as the marine fuel business’ historical and future earnings potential. The deal includes the acquisition of OCH’s marine fuel business, its independent online bunker auction portal, and a team of experienced bunker brokering and trading employees and staff in the United States…

Shipping finance specialist Tufton Oceanic is reportedly launching an independent web-based shipping chartering exchange with a group of e-commerce and investment companies. The exchange, to be called ShipDesk, aims to become the definitive independent chartering exchange, benefiting all market participants, a spokesperson said. ShipDesk, which will go live later this year, has been developed in conjunction with U.S.-based electronic market developer OptiMark Technologies, European e-business investment firm antfactory, and private equity group Whitney & Co. The site will provide a confidential exchange for wet and dry bulk commodity trade from shipment to voyage completion.

OceanConnect.com, the independent online marketplace for the purchase and sale of marine fuels, products and services introduced an innovative feature called OceanConnect.com Credit Solutions. Through the website, up to $1 million of credit protection could be available per ship owner closing business on the OceanConnect.com site. OceanConnect.com Credit Solutions provides the opportunity for suppliers to be covered for losses due to insolvency or default by buyers. Coverage is provided by an underwriter rated "A+XV" by A.M. Best Company. When an auction is created, available coverage is calculated instantly and can be viewed by buyers and invited suppliers on the auction monitor. OceanConnect.com Credit Solutions provides benefits to both suppliers and buyers alike.

Independent Online reported that a Panama-flagged cargo vessel has gone missing in Somalia's pirate-infested waters, a Kenyan maritime official said. The MV Infinity Marine 1 disappeared some 37 nautical miles off the northeastern village of Ras Hafun in late June, said Andrew Mwangura of the Kenyan branch of the Seafarers' Assistance Program. The vessel, sailing from the United Arab Emirates, was carrying general cargo including food stuffs, iron sheet, generators, batteries, white wood and light vehicles. Four vessels - one from Taiwan, another from Denmark and two from South Korea - are already currently in the hands of pirates off the coast of war-torn Somalia. Source: Independent Online

The four-month trial - the most complex of its kind in French history - may also turn into a trial of the globalized international shipping system. The aging and rusting ship, which split in two off off Britanny, on December 12, 1999, was Japanese-built, Italian-owned and controlled by two Liberian companies. The Erika was crewed by Indians, sailing under a Maltese flag, chartered by a shipping company registered in the Bahamas for a French oil company. The tribunal in Paris was told that the ship had already been identified as a potential risk. It was nonetheless allowed to leave Dunkirk in high seas, carrying a cargo of 20,000 tonnes of toxic heavy fuel oil. The ship foundered three days later.

Three Arab states have promised to donate two ferries each to Egypt, nearly two months after an Egyptian ferry sank in the Red Sea leaving some 1 000 people dead. The six 70-million-dollar ferries shall operate in the Red Sea and be used primarily to transport Muslim pilgrims and Egyptian expatriates in the Gulf, Independent Online reported. Each of the ships, to be imported from Australia, has a capacity of around 1 500 passengers. (Source: Independent Online)

The new vessel Maria Dolores for Virtu Ferries, due for delivery in the middle of this year, will be delivered by Austal Ship in January, according to a report by the Malta Independent Online. The delay is reportedly due to a shortage of labour in Western Australia. The vessel will carry 600 passengers in two lounges, one Club Class, 65 cars/campers and 10 trucks/TIR/coaches. The vessel has a cruising speed of 36 knots; crossings to Pozzallo will take 90 minutes, Catania three hours and Reggio Calabria four hours and 30 minutes.