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Transportation Expenses News

22 Aug 2013

IMG Enhance Marine Group Medical Insurance Program

International Medical Group® (IMG) a leader in designing, distributing and administering global medical insurance benefits, has announced its enhanced flagship marine group medical insurance program. According to IMG, the enhancements enable ship owners to provide their crew comprehensive coverage for eligible medical expenses, which is increasingly important with the enactment of the Maritime Labour Convention (MLC, 2006). The MLC, 2006, which took effect August 20, 2013 and became binding in international law, establishes minimum working and living standards for all seafarers on those ships. As such the MLC, 2006, requires ship owners to provide health protection and medical care to seafarers on board their ship.

14 Feb 2013

'Carnival Triumph' Tow: Latest Update

Carnival Triumph & Coast Guard Cutter: Photo credit USCG

Carnival dispatches a third tugboat, from Port Fourchon, Louisiana, to further assist the disabled cruise ship toward Mobile, ALA. The company has also announced further compensation of US$500 for the 3,143 passengers aboard the Carnival Triumph in addition to a full refund of the cruise along with transportation expenses and reimbursement of all shipboard purchases during the voyage, with the exception of gift shop, art purchases and casino charges. All passengers will also receive a future cruise credit equal to the amount paid for this voyage.

12 Feb 2013

'Carnival Triumph': Latest News

Carnival Triumph: Photo credit Carnival

The cruise ship, disabled by an engine room fire, will probably be towed to Mobile,  AL. Carnival Triumph was originally intended for towage to the Mexican port of Progreso, however after drifting through currents in the Gulf of Mexico, she is expected to dock instead in Mobile. Some power has been restored including the freshwater system, which is back up and operational. Additionally, the sewage system has been restored to the forward section of the ship but is still down in the after part.

13 Aug 2009

Aegean Marine Q2 2009 Results, Sales up 21.6%

Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced financial and operating results for the second quarter ended June 30, 2009. The company recorded net income of $16.3m, or $0.38 basic and diluted earnings per share, for the three months ended June 30, 2009. Net income, adjusted for a $4.2m gain from sale of vessels, was $12.1 million, or $0.29 basic and $0.28 diluted earnings per share. For purposes of comparison, the Company reported net income of $9.9 million, or $0.23 basic and diluted earnings per share, for the three months ended June 30, 2008. The weighted average basic and diluted shares outstanding for the three months ended June 30, 2009 were 42,576,830 and 42,728,588, respectively.

19 May 2009

Aegean Announces Q1 2009 Results

Aegean Marine Petroleum Network Inc. ANW announced financial and operating results for the first quarter ended March 31, 2009. •    Increased sales volumes by 23.6% to 1,310,037 metric tons in Q1 2009, compared to 1,060,134 metric tons for Q1 2008. •    Expanded net revenues to $40.0 million. •    Recorded operating income of $8.3 million. •    Reported net income of $4.4 million, or $0.10 basic and diluted earnings per share. o    Expanded Greek operations to the market of Patras. o    Acquired or took delivery of five double-hull bunkering tankers, including two newbuildings. •    Secured a new senior secured revolving credit facility for a period of two years. •    Entered into strategic alliance with Gulf Oil for the marketing and distribution of marine lubricants.

03 Oct 2001

Carnival Heads Into Rough Waters

According to Lazard Freres and Co., the impact on Carnival's (CCL) business in the first week following terrorist attacks on September 11th is estimated at around $20 million, including loss of revenue from canceled cruises, port reposition costs, and additional transportation expenses. They have since dropped to about 50 to 60 percent of typical levels for this period, but cancellations, which had increased sharply in the days immediately following September 11th, have started to decline steadily with new bookings now outpacing cancellations. Luxury product continued to suffer in the quarter- the company has sold two vessels from the Seabourn fleet and reduced staff at Cunard/Seabourn by 25 percent.

26 Oct 2007

Hanjin Heavy Industries Recruits 20,000

Some 20,000 local male residents are being recruited by business titan Hanjin Heavy Industries & Construction Co., Ltd., of South Korea for its shipbuilding and ship repair projects. Former vice Gov. Ramon Lacbain II announced that Gov. Amor Deloso has created Task Force Hanjin (TFH) to fill up the company's labor requirements. Deloso said the task force chaired by Lacbain is assisting the Korean firm in recruiting job applicants from this province and nearby provinces for the multi-billion dollar shipbuilding projects of Hanjin in Zambales and South Korea. Lacban said that his task force is going around the province to recruit applicants to save them from traveling and spending transportation expenses to Subic Bay Freeport.