Rickmers Maritime Trust May Face Liquidation
[ Updated ] The Singapore-based Rickmers Maritime Trust has come to a sitatuation where the choice is between restructuring the securities in the company to less than half their current value or shutting down. So it has warned the investors that if its proposed debt restructuring plan is not approved by its noteholders, it could be headed for a potential liquidation or judicial management. The shipping trust, has asked for clemency from its creditors regarding $179.7 million of debt and a following $100 million of interest that it cannot pay, reported Bloomberg.
Pirates Attack, Loot Container Ship
Pirates stormed a container ship off the coast of Guinea on Wednesday, making off with money and some of its cargo but leaving the crew unharmed, the government said. They fired guns and briefly held the crew hostage while they were looting the ship named Wendok, Guinea government spokesman Albert Camara said by telephone. He did not have details of the flag Wendok was flying under, the company running it, what its cargo was nor the nationalities of the crew. He said that Guinea's navy had been alerted but that the pirates had escaped before it could catch them.
U.S. meeting on ocean conservation nets $5.3 billion in pledges
International participants at a high-level conference on the world's oceans pledged more than $5.3 billion for conservation and designated vast areas as protected waters, U.S. Secretary of State John Kerry said on Friday. More than 90 countries took part in the two-day conference, the third of its kind, in an effort to galvanize attention to the dangers that pollution, climate change and over-fishing may pose to the world's oceans. "This ocean conference, in order to protect marine eco-systems…
Star Bulk Announces $51.5M Offering Common Stock
Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock. The Company intends to use the net proceeds from the offering for general corporate purposes. Oaktree Capital Management, L.P., Caspian Capital LP and family members or entities owned and controlled by affiliates of the family of our Chief Executive Officer and founder, Mr. Pappas, have indicated…
DNV GL on Maritime Cyber Security
What are the best options for securing remote connections on ship and offshore systems? Which operational technology on board is most vulnerable to cyber-attacks? DNV GL has published a Recommended Practice (RP) on “Cyber Security Resilience Management” to help the industry address potential cyber hazards. Developed in cooperation with customers, the RP provides guidance on risk assessment, general improvements to cyber security, and the verification of security improvements and management systems.
Cooperation key to Enhancing Maritime Security in Indian Ocean
Further cooperation on maritime security in the western Indian Ocean area was discussed between members of International Maritime Organization (IMO) Secretariat and staff from the EU Critical Maritime Routes Indian Ocean (CRIMARIO). The talk focused on cooperation with Member States to enhance information sharing in the region. They also discussed an EU-funded project to develop an Indian Ocean regional information sharing and crisis management network (IORIS-CMN). In addition…
United Nations East River Security Zones Scheduled
U.S. Coast Guard crewmembers are scheduled to enforce security zones on the East River near the United Nations Headquarters beginning Friday. The security zones scheduled to begin Sept. 16, and continue until Sept. 25, 2016, include all waters of the East River between East 35th Street and the Queensboro/59th Street Bridge. Zone (1): This zone is always in effect. No Vessels within 175 yards of Manhattan between East 35th Street and the Queensboro/59th Street Bridge in the West Channel of the East River.
Boosting Maritime Security in Cameroon
An International Maritime Organization (IMO)-led maritime security table top exercise is taking place in Yaoundé, Cameroon (6-8 September) for participants from a range of government departments and national agencies, including the Maritime Authority. The exercise encourages a multi-agency, whole of government approach to maritime security and maritime law enforcement issues. A range of evolving scenarios are being used to stimulate discussions and demonstrate the need for cooperation amongst government departments and agencies.
MarAd Stresses Economic Impact of Shipyard Jobs in NE
In comments before the international Tradewinds Ship Owners Forum in New York City, Maritime Administrator Paul “Chip” Jaenichen highlighted the more than 42,700 jobs, $3.6 billion in labor income and $4.78 billion in GDP associated with employment for shipbuilding and repair in the northeast region. “American shipyards provide a dependable, highly trained workforce that produce, repair and maintain some of the world’s most modern and innovative vessels. Their efforts ensure our…
Philippines, Indonesia Sign Maritime Accord
The Philippines and Indonesia have agreed to join forces in combating crime on the high seas, after a surge of kidnappings by Abu Sayyaf bandits in waters between the two countries. Philippines President Rodrigo R. Duterte and Indonesian President Joko Widodo had signed an agreement to ensure maritime security in the region and affirming both countries’ commitment to fight terrorism and illegal drugs. Philippines President gave Indonesian forces the right to pursue pirates into Philippine waters, saying piracy is one of the main problems between the two countries.
Cochin Shipyard Gears Up for IPO
India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources, CSL is all set to file documents for its IPO of Rs 600 crores ($90 million) with the Securities and Exchange Board of India (SEBI). The plan is part of its effort to expand and construct larger vessels and also undertake ship repair and fabrication. In addition, the government will sell 10% of its stake through the IPO.
Australian Port Sold for $7.3 bln to Consortium
A consortium of global and domestic funds, backed by investors including China Investment Corp, agreed to buy Australia's busiest port for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are helping fuel appetite for infrastructure. Australian leaders will also hope the deal shows they still welcome Chinese investment in infrastructure. The federal government last month blocked the sale of the country's biggest power network, Ausgrid, to state-owned State Grid Corp of China and Hong Kong-listed Cheung Kong Infrastructure Holdings on security concerns.
Indian Naval Ships Call At Port Louis, Mauritius
Indian Naval ships Kolkata and Aditya, under the Command of the Flag Officer Commanding Western Fleet, are in Mauritius since 1st September 2016, in a demonstration of India's commitment to its ties with Mauritius and to promote maritime security in the Indian Ocean region. INS Kolkata is commanded by Captain Rahul Vilas Gokhale and INS Aditya is commanded by Captain Vidyanshu Srivastava. The ships are part of the Indian Navy’s Western Fleet based at Mumbai under the Western Naval Command and are on a two month long deployment in the Western Indian Ocean.
UKHO Publish World's First Security Paper Charts
The United Kingdom Hydrographic Office's (UKHO) security charts are designed to protect against risks, including piracy. The two new Admiralty Maritime Security Charts, cover the waters around India and Southeast Asia, including the Malacca Straits. These paper charts provide a single point of reference for recording the most up-to-date security information and, taken together with the UKHO’s three existing security and piracy charts, create the world’s first suite of security planning charts. Admiralty Maritime Security Charts are designed to be used by ship personnel, shore-based managers and security specialists as a key voyage planning tool for recording the latest security-critical navigational information…
USCG Issues Port Security Guidelines
The U.S. Coast Guard issued Navigation and Vessel Inspection Circular (NVIC) 9-02 entitled Guidelines for Port Security Committees and Port Security Plans Required for U.S. Ports Building on its Maritime Homeland Security Mission, the Coast Guard Headquarters has advised its field units on how to structure the Port Security Committees and how to develop Port Security Plans. By February 28, 2003, each Captain of the Port (COTP) is to conduct a preliminary port level security assessment in conjunction with the Port Security Committee. The assessment will provide the basis for finalizing the Port Security Plan. Source: HK Law
Navigating through U.S. By Dennis L. Holland & Knight, Washington, D.C. The U.S. Maritime Transportation Security Act (MTSA) imposes various maritime security requirements on operating in waters subject to the jurisdiction of the United States. Maritime security regulations promulgated by the U.S. Coast Guard implement some (but not all) of the MTSA requirements and impose some additional requirements. In other words, Congress has imposed various requirements on the owners and operators of ships navigating waters of the United States and the U.S. Coast Guard has not provided full guidance on how to comply with those legislative mandates.
Training: Maritime Security Professional Training
Port facilities and Shipping companies are rushing to comply with new international and national maritime security requirements. The ISPS (International Ship and Port Security) and the U.S. maritime security requirements mandate security assessments, plans and training of security personnel. The Maritime Institute of Technology (MITAGS) and its satellite school, the Pacific Maritime Institute (PMI) offer training for port facility, shipping company and ship security officers. MITAGS/PMI is now offering training for Maritime Security Professionals.The ISPS Code, the Maritime Transportation Security Act (MTSA) of 2002 and in the Code of Federal Regulations (CFR) mandate training for port facility personnel with specific security duties.
10 Years After 9/11, Security Still a Top Priority of U.S. Ports
AAPA Concerned Federal Budget Cuts May Impact Port Security Progress. Port and industry leaders from throughout the Western Hemisphere will pause on Sunday, Sept. 11, as part of the 100th Annual Convention of the American Association of Port Authorities (AAPA) in Seattle (Sept. 11-15), to remember those tragically lost in the terrorist attacks on U.S. soil 10 years ago. Among those lost were 84 industry colleagues from the Port Authority of New York and New Jersey who perished at the World Trade Center. In the decade since Sept. 11, 2001, America’s seaports and the federal government have joined forces to make major gains in fortifying and hardening port facilities against intruder attack.
Videotel Warns Shipowners Over Security Training Requirements
Videotel Marine International has advised shipowners to prepare themselves for the fundamental changes expected in ship security regulations. vessels. the vessel's formal security plan," says Len Holder, chairman of Videotel. their normal duties. trained ship security officer onboard. vessels. designed for training ship security officers. comes complete with on-screen assessment and testing capabilities. vessel. away from the messroom or computer. be difficult," says Chris Haughton, deputy managing director of Videotel. "But ship security is a major issue. flexible approach to training. due to be launched in early 2003. completing the training package.
Becena Named Security Administrator at Port Everglades
Anti-terrorism and physical security specialist Melchor Becena has been named Security Administrator for Broward County’s Port Everglades, announced Port Director Ken Krauter. Becena joins Port Everglades after a search for a top level security/safety advisor to South Florida’s burgeoning cruise, cargo and petroleum seaport. He comes to the South Florida Seaport from the Security and Intelligence Division, Public Safety Business Center, in Fort Bragg, N.C. where he was a Physical Security and Anti-terrorism specialist. He has more than 20 years of experience in security specializing in counter-terrorism, anti-terrorism, intelligence and physical security. He has a Master’s degree in Business and Organizational Security Management from Webster University, St. Louis, Mo. Highlights of Mr.
Liberia Approves Seagull Security Training Package
Maritime Training specialist, Seagull, has secured Liberia’s approval for its unique Security training package. Liberian approval comes little more than a month after Seagull announced that it had been awarded Norwegian Maritime Authority (NMA) approval for the new security training package, which is to be made available in October. Seagull has sent application for approval to a number of other flag states. Receiving Liberian approval so shortly after getting NMA approval underscores industry recognition of the importance of Seagull’s courses in ensuring seafarers are trained properly in all security matters. Shipowners can now be confident that their seafarers can demonstrate the necessary competency and proficiency.
Panama Canal is ISPS Ready
Security at the Panama Canal was enhanced recently as it implemented requirements of the International Ship and Port Facility Security (ISPS) Code and received fulfillment certification from the American Bureau of Shipping (ABS) Consulting (an affiliate of the American Bureau of Shipping). The Panama Canal Authority (ACP) voluntarily sought certification and chose to comply with the Code, which is mandatory for ship and port facilities by July 1, 2004. The Panama Canal is among the first of the largest maritime organizations in the continent to receive ISPS certification. The enhanced security will improve upon the way the Canal works with ships and port facilities to detect and deter security threats within a standardized and consistent framework…
Maritime Security Course in Seattle
Beginning July 1, 2005, Seattle Maritime Academy (SMA) will offer courses in Maritime Security, specifically CSO/VSO and FSO. · Company Security Officer – CSO/VSO (3 days). This course is intended to provide the knowledge required for personnel to conduct the duties of a Company Security Officer (CSO) in accordance with the requirements of the Maritime Transportation Security Act of 2002, Chapter XI-2 of SOLAS 74 as amended, the IMO ISPS Code, and relevant U.S. Coast Guard regulations. · Vessel Security Officer - CSO/VSO (3 days) This course is intended to provide the knowledge required for personnel to conduct the duties of a Vessel Security Officer (VSO) in accordance with the requirements of the Maritime Transportation Security Act of 2002…