Tommy Mølgaard Leaves APM Terminals, Appointed Damco CFO
Damco announces the appointment of Tommy Mølgaard as Global Chief Financial Officer. Mølgaard takes up his position in Damco’s Headquarters after occupying the role of Head of Corporate Finance at APM Terminals. Tommy Mølgaard brings with him over twenty years of experience in finance at a senior level in the Logistics sector. He gained extensive experience as CFO at corporate, country, regional and business unit levels- during various assignments with the A.P.
Contractors, B&W, Comment on US Government Shutdown Effect
"B&W is closely monitoring the government shutdown and the effect it could have on our business results and operations. We do not expect any delays or impacts to…
Chinese Cargo Ship Sinks: 8 Crew Dead, 3 Still Missing
Eight crew members of 19 crew aboard a Panama-flagged Chinese-owned 8,461-tonne freighter, died after their vessel sank in rough seas off the South Korean harbour of Pohang, reports Xinhua. The vessel, the CHENGLU15, owned by China’s Lishen International Shipping Group, was standing by to enter Pohang port to discharge cargo when it dragged anchor, collided with the sea wall and sank. China’s Xinhua reported that 18 of the 19 crew members were Chinese…
Venezuela to Free Seized Seismic Survey Ship
Venezuela has agreed to free a U.S.-chartered oil survey ship and 36 crew members seized last week in a territorial dispute with neighboring Guyana, reports Reuters, citing the vessel's owner.
Port of LA September 2013 Container Volumes Top 700,000 TEU's
The Port of Los Angeles has released its September 2013 cargo volumes. September overall volumes totaled 710,892 Twenty-Foot Equivalent (TEU) containers, the third consecutive month volumes exceeded 700,000 TEUs, but compared to September 2012, volumes dropped 4.57 percent. Imports declined by 3.75 percent, from 385,250 TEUs in September 2012 to 370,785 TEUs this September. Exports decreased 12.79 percent, from 172,432 TEUs in September 2012 to 150,380 TEUs in September 2013.
Australia Boosts Funds for SADI Program
Minister for Defence David Johnston has announced the award of more than $10.5 million in grants to more than 120 companies under the most recent round of the Skilling Australias Defence Industry (SADI) program. Senator Johnston said the funding would provide more than 1000 individual training opportunities to support Australias defence industry in improving the quality and quantity of skills within its workforce.
Transocean Future Newbuild Drillship Chartered Out
Transocean Ltd. has been awarded a five-year contract by Chevron U.S.A. Inc. for a newbuild dynamically positioned ultra-deepwater drillship. Shipyard delivery is scheduled for the second quarter of 2016. After customer acceptance, the contract is expected to commence in the fourth quarter of 2016, contributing an estimated revenue backlog of approximately $1.1 billion, excluding mobilization. Excluding capitalized interest…
Safe Bulkers Declare Series B Preferred Shares Dividend
Greece-based dry bulk ship owners Safe Bulkers declares a cash dividend of $0.51111 per share on its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares for the period from July 30…
Canada Conducts Spill Response Study
A comprehensive study assessing current marine-spill preparedness and response capabilities was released by the Province today. The study also outlines necessary improvements to achieve a world-class system to ensure B.C.'s coast is protected from potential marine spills. Nuka Research, an international expert in spill preparedness and response, had been commissioned by the provincial government to undertake the study so B.C.
Thailand Product Tanker Reported Missing
ReCAAP ISC reported that the owner of Thailand-registerer oil product tanker, Danai 4 had lost contact with the vessel, and the ship is assumed missing. The owner’s last communication with the vessel was on October 10, 2013 at approximately 17.78 nm northeast of Tanjung Penawar, Malaysia (1° 35.48’ N, 104° 34.08’ E). Danai 4 (IMO 8613530, dwt 1924, built 1986, flag Thailand, manager Thai International Tankers Co.
Rolls-Royce Design and Equipment for COSCO
Rolls-Royce has won an order to provide an integrated design and equipment package for two offshore supply vessels to be built at COSCO (Guangdong) Shipyard Co., Ltd. in China for the Singapore based Chellsea Group, a company in the offshore oilfield services industry. The two Rolls-Royce UT 771WP platform supply vessels will be the first vessels in Asia featuring the wave piercing bow designed to pierce through the waves in rough seas…
Florida Gov. to Address Port Infrastructure Investments
Florida Governor Rick Scott will serve as the keynote speaker on Wednesday, Oct. 16, at the American Association of Port Authority’s (AAPA) 102nd Annual Convention and Expo in Orlando, Fla., hosted by the Canaveral Port Authority. He will discuss the importance of investing in ports and port-related infrastructure during a luncheon presentation at the AAPA convention. Gov. Scott is a strong proponent for ports, particularly Florida’s 14 deepwater seaports.
Monico and CMR Form Strategic Alliance
Monico Monitoring, Inc., a company in the industrial monitoring and control solutions market, formed a strategic alliance with CMR Group, a manufacturer of industrial engine controls…
Today in U.S. Naval History: October 15
Today in U.S. 1917 - USS Cassin (DD-43) torpedoed by German submarine U-61 off coast of Ireland. In trying to save the ship, Gunner's Mate Osmond Kelly Ingram becomes first American sailor killed in World War I and later is awarded the Medal of Honor for his heroism. He becomes the first enlisted man to have a ship named for him, in 1919. 1948 - First women officers on active duty sworn in as commissioned…
Moody's Upgrades CMA CGM's Financial Outlook
Moody's Investors Service has upgraded CMA CGM S.A.'s corporate family rating (CFR) to B2 from B3 and the company's probability of default rating to B2-PD from B3-PD. Concurrently, the rating agency has upgraded to Caa1 (LGD5/84) from Caa2 (LGD5/80) CMA CGM's EUR325 million and $475 million worth of senior unsecured notes maturing in 2019 and 2017, respectively. The outlook on the ratings is stable.
2H Offshore’s Brazil Team Adds Technical Managers
2H Offshore, an Acteon company, has appointed Pedro Viana and Roberto Alvim as the technical managers of its Rio de Janeiro, Brazil office to strengthen its management team and drive business growth. Viana was the first engineer hired when 2H Offshore’s Brazil office opened in 2003. He has participated directly in the development of the office since its inception, and has supported both the technical and management activities of the company.
USCG Grants Certificate Extension for Some Commercial Ships
Due to the lapse in government funding, the U.S. Coast Guard announced Tuesday that it will allow commercial vessels engaged in domestic voyages between ports in the United States or its possessions to operate with an expired certificate of documentation as long as they are in compliance with all other requirements for operation. Vessel owners should submit their renewal application to the National Vessel Documentation Center as appropriate using normal submittal procedures.
Companies Partner to Protect the Great Lakes
American Steamship Company (ASC), a subsidiary of GATX Corporation, and Chicago’s John G. Shedd Aquarium are working collaboratively in pursuit of their common goal of protecting the Great Lakes, and now they’re taking that message to communities along the shores. One of ASC’s 1,000-foot vessels, the MV Indiana Harbor, is displaying each organization’s logo along with the slogan “Working Together to…
Caterpillar MaK Engines: EPA Tier 2 Certified
Caterpillar Marine Power Systems announced the EPA Tier 2 Certification of all MaK engine platforms with cylinder volumes of above thirty liters. Included in the certification are the M 32 C, M 43 C, M 46 DF as well as the recently announced M 34 DF engine platform. The certification of the MaK range provides customers operating in the American market, specifically in the commercial and offshore marine markets, a spectrum of power nodes to meet emissions regulations on U.S. flagged vessels.
Brazil Postpones SISTRAM Communications
The Brazilian Maritime Authority has advised that the commencement of the new SISTRAM communications system has been postponed for at least 90 days, and will therefore…