Leading Korea Shipyard Appoints New Chairman
Hyundai Heavy Industries (HHI) has promoted Lee Jae-sung, from CEO to chairman, the position having become vacant when former chairman Min Kye-shik left the shipbuilder in December 2011, reports 'The Korea Times'. This is part of a management reshuffle designed to defy concerns over corporate profitability amid the continued market downturn. The Korea Times adds that President Kim Oe-hyun will be in charge of shipbuilding…
Excel Maritime Agree Chapter 11 Way Out Re-structuring
Excel Maritime Carriers Ltd. say they have reached an agreement on the terms of a modified plan of reorganization with its senior secured lenders and the Official Committee of Unsecured Creditors, which was filed with United States Bankruptcy Court for the Southern District of New York. "We are pleased to have reached this agreement with our lenders and bondholders, which positions Excel Maritime for future growth and success," said Gabriel Panayotides, Chairman of the Board.
MOL to Migrate Fleet to 6GB FleetBroadband Plan
Inmarsat say that MOL Ship Management has commenced migrating over 100 vessels to the FleetBroadband 6 gigabyte (GB) plan for the primary purpose of enhancing both crew welfare and business operations. The decision to upgrade was made following a trial period on several selected vessels. “Any FleetBroadband user can quickly and easily upgrade their plans without additional capital investment and data usage can be shared across vessels,” said Frank Coles, President of Inmarsat Maritime.
DoD's Increased Arctic Attention Welcomed by AAPC Co-Chairs
Alaska Arctic Policy Commission Co-Chairs Senator Lesil McGuire and Representative Bob Herron have approved of a recent DoD report, introduced by United States Secretary of Defense Chuck Hagel, but pointed out that the overarching language is short on details and lacks a plan for implementation. Chuck Hagel, announced the release of his agency's 14-page “Arctic Strategy”, touting it as a plan to ensure security, support safety and promote defense cooperation in the region.
NAT's New Offshore Subsidiary to Seek NYSE Listing
Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American Offshore Ltd. (NAO). NAO, an offshore supply ship company, has now been established and NAT is its largest shareholder (26%) with an investment of $65 mill.
New Canadian Coast Guard Hovercraft Arrives
Canadian Government ministers have announced the arrival in Canada of the new hovercraft to be stationed at Sea Island in Richmond, British Columbia – the 'CCGS Moytel'. The new hovercraft will be named the CCGS Moytel. Moytel is a Halq’emélem word meaning “to help each other.” Canadian Coast Guard vessels are given names that promote Canadian sovereignty, culture, geography and history. As a replacement for the CCGS Penac…
Resolve Maritime Academy Welcomes Distinguished Visitor
Lieutenant Colonel Roque, Director, Region South, of the Office of the Chairman of the Joint Chiefs of Staff Warrior and Family Support visits Resolve Marine Group and tours Resolve Maritime Academy. LTC Roque's visit included a tour of the Resolve Maritime Academy simulators and fire school. The purpose of the tour was for her to acquaint herself with industry-related capabilities and to meet the many veterans employed by Resolve.
Diana Shipping Dispute Early Charter Termination
Diana Shipping subsidiary Gala Properties Inc. has received a notice from the charterers of the 'M/V Houston' claiming that they are entitled to terminate the vessel's charter effective November 26, 2013 for purported breaches by the owners. The Company believes that the owners have fully performed under the terms of the charter since its inception and that the charterers have no basis for the purported termination of the charter.
Drew Marine Gets Navy Worldwide MSC Supply Contract
In the latest listing of US Department of Defense, Navy, contracts Drew Marine USA has been awarded a one-year option for the worldwide supply, delivery and services for shipboard chemical treatment…
Aecon Completes $150 Million Public Offering
Aecon Group Inc. announced that it has completed its previously announced public offering of $150 million aggregate principal amount of 5.5% convertible unsecured…
Upper Mississippi River Reopens
The Coast Guard captain of the port reopened the Mississippi River from mile marker 493 to mile marker 501 on the upper Mississippi River at approximately 6 p.m. Tuesday. The Coast Guard, Illinois EPA, Illinois DNR and local emergency crews continue to respond to oil discharge into the Mississippi River near LeClaire, Iowa from the partially submerged towboat. Watchstanders at Coast Guard Sector Upper Mississippi River received a report at approximately 4:30 p.m.…
Today in U.S. Naval History: November 27
Today in U.S. 1941 - Chief of Naval Operations sends "war warning" to commanders of Pacific and Asiatic Fleets. 1961 - Navy reports first use of its cyclotron at…
Lloyd’s Register Issues Gas Technology Report
The November 2013 edition of Lloyd’s Register’s Gas Technology Report is dedicated to LNG as a marine fuel. Highlights include a look at developments in Canada – a shipowner, the regulator and a shipbuilder talk about gas fuelled shipping, progress made by the Maritime and Port Authority in Singapore to develop LNG bunkering, the CEO of Viking Line talks about the LR classed Viking Grace and interviews with SIGTTO and the newly formed Society for Gas as a Marine Fuel (SGMF).
EU Urged to Address IMO Sulphur Requirements
In conjunction with the first meeting of the newly established European Sustainable Shipping Forum (ESSF), which is scheduled to take place today, the shipping industry…
Strategic Marine Scores Two Infrastructure Projects
Strategic Marine announced today it is constructing two marine infrastructure fabrication projects in its Vietnam shipyard. Both projects are for Australian clients. The first comprises three 60-meter pontoons and three 90-meter gangways for application in Gladstone Port Corporation's new tug base. The second is for Carnegie Wave Energy and comprises three Buoyant Actuators for a renewable wave energy and desalination project off the coast of Perth.
Dorian Completes Acquisition of Scorpio VLGC Fleet
Dorian LPG Ltd. announced that it has concluded its agreement with Scorpio Tankers Inc. to acquire its Very Large Gas Carrier (VLGC) newbuilding contracts, associated deposits of $83.1 million…
Irish Ferries Launches Dublin-Cherbourg Ferry Route
A new direct passenger car ferry service linking Dublin with the French port of Cherbourg is being introduced by Irish Ferries with the first sailing departing from Dublin on January 18. The once-weekly, year-round service – which the company’s head of passenger sales Dermot Merrigan said “will bring the European motorways directly into the heart of our capital city” – will depart from Dublin every Saturday (15.30) arriving into Cherbourg next morning (11.30).
Adani Ports, Port of Zeebrugge Explore Joint Opportunities
Adani Ports & SEZ Ltd., India’s largest private port developer and part of the Adani Group, signed a Memorandum of Understanding with the Belgian Port of Zeebrugge to act as a strategic entry port for the lucrative European market. It will now collaborate with the Belgian port to explore joint business opportunities between the two ports along with other forms of trade, shipping, railway infrastructure across India and Europe.
Ship Finance Posts Third Quarter Results
Ship Finance International Limited announced its preliminary financial results for the quarter ended September 30, 2013, reporting preliminary 3Q 2013 results and…
ITF Seafarers’ Trust Grants Aid Filipino Mariners
The ITF Seafarers’ Trust, the charity arm of the International Transport Workers” Federation, has authorized two grants totalling GBP100,000 to aid Filipino seafarers…