Panama Canal Extension Contractors Deny Halting Work
The Spanish building company, Sacyr, leading the expansion project on the Panama Canal has denied that work at the waterway has been halted despite word to the contrary by the Panama Canal Authority (ACP) reports BBC News. The Panama Canal Authority and the building companies involved are engaged in a dispute over who should foot $1.6bn (£1bn) in extra costs. Citing remarks by president of Sacyr, Manuel Manrique, BBC News report that no date had been set for construction work to stop.
DP World 2013 Container Volumes Continued to Grow
Dubai-based DP World reports that container volumes continued to grow In 2013 with a stronger second half performance across all regions. DP World Limited handled 55 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during 2013, with gross container volumes growing by 0.7% on a like-for-like 1 basis. The second half of the year delivered a stronger performance with volumes growing 3.6% on the prior period on a like-for-like basis.
BAE Systems Name Tom Arseneault COO of US Subsidiary
BAE Systems announce that Tom Arseneault has been appointed chief operating officer (COO) of BAE Systems, Inc., the U.S. subsidiary of BAE Systems plc. He will serve as deputy to President and CEO Jerry DeMuro and will continue to be a member of the Group Executive Committee. “Tom brings a wealth of experience and insight to his expanded position and I look forward to partnering with him to optimize program and business performance across our company,” said DeMuro.
Oregon Offshore Wind Project: Key Step Forward
On the heels of President Obama’s State of the Union address where he laid out actions to move the economy toward clean energy sources, reduce carbon pollution and create jobs, Secretary of the Interior Sally Jewell has announced an important step forward for the first offshore wind project proposed for federal waters off the West Coast. Governor John Kitzhaber and Bureau of Ocean Energy Management (BOEM) Director Tommy P.
Tru-Marine Houston Joined by Isaac Yohanan
Maritime turbocharger services provider Tru-Marine Group say that Mr. Isaac Yohanan has joined as a General Manager and Director of Tru-Marine Houston LLC. The company inform that Mr. Yohanan will be responsible for Tru-Marine's business and service operation in the US and the Americas focusing on its rapidly expanding presence in the marine and off-shore energy markets in North, South and Central America offering scheduled overhauls, reconditioning and repair services for marine turbochargers.
Baltic Exchange Appoints Jones A-P Director, Singapore
Jones joins the Baltic Exchange from ICAP Shipping Singapore where he was director of sale & purchase. He will replace Philip Williams who retires from the role in April, and he will be based at the Exchange's Singapore office. Baltic Exchange Chief Executive Jeremy Penn said: “We’re delighted to welcome Chris Jones to the team. The Baltic Exchange’s presence has grown significantly in Asia with our Singapore office leading the drive.
Subsea Cranes, Cement Unloader Orders for Cargotec
Cargotec's MacGregor has secured a new IHC Merwede order for subsea cranes, and in Libya Cargotec is to supply a Turkish company with a mobile cement unloader to work ports along the coast. MacGregor, part of Cargotec, has won an order worth around EUR 23 million for six active heave-compensated (AHC) subsea cranes from the Dutch IHC Merwede. The cranes will be installed on three pipe-laying ships destined for the UK headquartered global offshore specialist, Subsea 7.
Tankship Asset Price Forecasting Mysteries Explained
Marine transport advisors, McQuilling Services recently released its 2014-2018 Tanker Market Outlook that forecasts spot freight rates across eight tanker classes and 13 major trading routes. This year’s edition also includes a forecast of asset prices over the same period for newbuilding, 5-year old and 10-year old tankers in these eight tanker classes. "This note discusses an important element of McQuilling’s forecasting process – the development of tanker supply.
Netherlands Shipyard to Build Ship for China
IHC Merwede says it has been successful in securing orders worth € 350 million for a wide range of dredging and offshore vessels and equipment, including a large trailing suction dredger for a Chinese customer. The company's Dredging division has confirmed new contracts for the delivery of a large custom-built trailing suction hopper dredger, with units that will be supplied by IHC Beaver Dredgers as well as a cutter suction dredger training simulator.
Diamond S Shipping Files for $100M IPO
IPO investment firm Renaissance Capital said that Diamond S Shipping Group, a provider of seaborne transportation of refined petroleum and is backed by WL Ross, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The Greenwich, Connecticut-based company, which was founded in 2013 and booked $178 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol DSG.
Somerset Embarks for Commissioning
The Navy's newest amphibious transport dock ship, Pre-commissioning Unit Somerset, (LPD 25) departed Huntington Ingalls Industries (HII) Shipbuilding site in Avondale, La., Feb. 3, beginning its maiden voyage to its commissioning site in Philadelphia, March 1. "The commissioning ceremony marks an important milestone in a ship's life and completes the cycle from christening and launching to full status as a ship of the United States Navy," said Commanding Officer, Capt. Thomas L. Dearborn.
Ports America Announces Refinancing
The Ports America Companies successfully refinanced the debt facilities of both Ports America, Inc. (PAI) and MTC Holdings, Inc. (MTC) into a single, unified capital structure.
Port Everglades to Renovate Cruise Terminal
Port Everglades will begin the renovation for its sixth cruise terminal in five years this spring as Terminal 4 is modernized through an expansion and reconfiguration effort that will provide the cruise line industry with a modern dual flow facility just in time for the 2014/2015 cruise season. In addition, the adjacent Slip 2 will be extended by 250 feet for a total 1,150 feet of berth length to accommodate larger cruise ships calling at Port Everglades.
Maritime Reporter @ 75: The Daily Cartoon
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.
Testing FloScan Stainless Steel Flowmeters
FloScan’s new ABS-certified stainless steel flowmeters were tested on the F/V North American powered by a CAT 399 1125hp main engine. The North American is 110’ Marco-built crab boat once featured in the popular Deadliest Catch TV Series. Erling Skaar, owner of the North American, was onboard and had this to say about the new stainless steel flowmeters, “We ran tests at various RPM rates and vessel speeds on Puget Sound and our FloScan meters registered 118.0 gallons consumed.
ACP Demands GUPC to Resume Locks Project Work
The ACP demanded today that Grupo Unidos por el Canal (GUPC), the consortium in charge of the construction of the third set of locks, resume work on the project as required by the contract. GUPC is formed by the companies Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana, S.A. (CUSA) (Panama). After two weeks of negotiations, which saw production levels drop to 25%, almost all activity has ceased.
Aubin and Flexlife Partener for Integrity Solutions
Offshore chemical engineering specialist Aubin Group has formed a cooperation agreement with subsea flexible pipe specialist Flexlife to create an industry first in subsea integrity management (IM). Aubin Integrity, a division of Aubin Group, and Flexlife are working together to provide full-service IM solutions to the oil and gas industry. Under the cooperation, Aubin Integrity will supply its development team to create bespoke products and provide offshore personnel for operations.
Hoover Container Solutions Names Matis Sales Director
Hoover Container Solutions,a subsidiary of Hoover Group, Inc., has named Matt Matis as director of sales for the Gulf of Mexico region. Matis is based in Thibodeaux, La., and will work closely with Hoover’s facilities in Port Fourchon, New Iberia and Scott, La. Matis will lead Hoover’s Louisiana sales efforts with a focus on the offshore industry while managing several major customer accounts. Additionally…
Remote Control Boat Assists Flood Repair
A remote control boat equipped with a SonTek M9 Acoustic Doppler Profiler (ADP) has been employed with HydroSurveyor software to create a three-dimensional map of a damaged (and still submerged) flood barrier, following serious damage that took place during last December’s storms. Data from the survey enabled the Environment Agency to act swiftly and effectively to repair the damage and thereby protect local industry and residents.
Retlif Marks 35th Anniversary
Retlif Testing Laboratories, a strategic compliance organization and independent testing laboratory, is celebrating its 35th year of operations. President Walter Poggi officially announced the anniversary with a series of planned events and pledged to uphold the personal service that has been the organization’s hallmark since its inception. Founded in 1978 by Walter and Marilyn Poggi, Retlif provides EMC/EMI and environmental simulation testing services…