New Shipbuilding Orders Threaten Fragile Sector Recovery
Reuters – Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, according to a recent survey. Ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into its biggest crisis since the 1930s. In recent months, prospects have brightened as the sector absorbs the tonnage as well more positive signs for world trade.
HK International Airport Nearshore Contract for Fugro
Fugro inform that the Airport Authority of Hong Kong has awarded them a contract to carry out a major nearshore geotechnical and environmental ground investigation…
Petrobras rig evacuated after tilting, now stabilized
An offshore drilling platform, operated for Brazilian state-run oil company Petrobras , was partially evacuated after tilting on Friday, but there was no risk of it sinking…
OPEC oil output rises in February
Supply rises by 170,000 bpd, led by Iraq, Angola. Saudi Arabia trims output, Libyan supply falls and OPEC output below 30 million bpd target for fifth month. OPEC's…
Wind turbine maker Nordex turns corner in overhaul
Shares rise 4.6 percent to top TecDAX. German wind turbine maker Nordex on Friday said it had swung to an operating profit last year, boosted by stronger demand…
Rig salvage work off Angola LNG to start in Q2
Salvage work to remove a capsized drilling rig lying in shallow waters off Angola's new liquefied natural gas (LNG) plant is due to start in the second quarter, Italian oil services firm Saipem said.
U.S. Navy eyes greater presence in Arctic from 2025
The U.S. Navy is mapping out how to expand its presence in the Arctic beginning around 2020, given signs that the region's once permanent ice cover is melting faster than expected…
Minimum Wage Increase for the Able Seafarer
Maritime Employer representatives, coordinated by the International Shipping Federation (ISF), met with International Transport Workers’ Federation (ITF) counterparts…
U.S. DOJ: First Guilty Plea in RO-RO Price Fixing Scandal
South American Company Agrees to Plead Guilty to Price Fixing on Ocean Shipping Services for Cars and Trucks. First Charges in the Department’s Antitrust Investigation Involving Ocean Shipping Services; Conspiracy Affected Global Cargo Shipments, Including at Port of Baltimore. Compañía Sud Americana de Vapores S.A. (CSAV), a Chilean corporation, has agreed to plead guilty and to pay an $8.9 million criminal fine for its involvement in a conspiracy to fix prices…
Global Availability of Fleet Management Software Platform
Vessel tracking and asset/document management software, used by hundreds of U.S. commercial workboat and fishing customers, is now available internationally for…
Hamburg Süd Christens New Containership
Together with customers and business partners, Hamburg Süd yesterday celebrated the christening of its containership Cap San Lorenzo at the Exolgan Terminal in Buenos Aires.
Innovative Solutions to Global Trends at INEC 2014
The newly launched program for the 12th International Naval Engineering Conference and Exhibition – INEC 2014, being held at the Marine Establishment Amsterdam in the Netherlands (May 20-22, 2014) features an incomparable line-up drawn from over a dozen countries speaking to the theme ‘Innovative solutions to global trends’. The program includes keynote addresses by Vice Admirals of both the Royal Netherlands Navy and the Royal Navy…
Fairmount Tows Rig from Brazil to Singapore
Fairmount Marine said it has safely delivered rig ENSCO 5002 in Singapore. The rig was towed from Rio de Janeiro, Brazil, via Cape Good Hope, by tug Fairmount Expedition. ENSCO 5002 is a 1975 built 70 meters long and 61 meters wide semisubmersible drilling rig. The rig can accommodate up to 110 persons and is capable to drill up to 10,668 meters. Tug Fairmount Expedition hooked-up with the rig offshore Rio de Janeiro mid-November 2013.
Disruptive Truckers at Port Metro Vancouver
Port Metro Vancouver is taking steps to ensure the safety of the port and port users, and the smooth movement of goods in the face of ongoing disruption to operations by members of the United Truckers Association. This group of truckers is protesting the wages paid by those who hire them, as well as wait times. Trucking wages are between truckers and trucking companies and Port Metro Vancouver will not interfere in that commercial arrangement.
Hapag-Lloyd Launches New Service
Enhanced service network between Japan and South East Asia / Port rotation includes four Japanese ports / First sailing mid of March. Hapag-Lloyd is launching the new Japan-Singapore-Jakarta service (JSJ) which will commence on March 12 from Singapore. The new service will further enhance Hapag-Lloyd’s service network between Japan and South East Asia, and offer fast and reliable transit between Japan, Singapore and Jakarta.
U.S. Government Offers $600M for Transport Projects
U.S. Transportation Secretary Anthony Foxx will join President Barack Obama today to announce that $600 million will be made available to fund transportation projects across the country under a sixth round of the U.S. Department of Transportation’s highly successful Transportation Investment Generating Economic Recovery (TIGER) competitive grant program. The announcement will be made at the Union Depot in St.
DNV GL, MPA Collaborate in Maritime R&D
DNV GL and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote research and development (R&D) and innovation in the maritime industry. The signing ceremony took place at the DNV GL 150th anniversary celebrations, in the presence of Lui Tuck Yew, Singapore’s Minister for Transport, and Borge Brende, Norway’s Minister of Foreign Affairs. The MOU was signed between Dr.
Wire Rope Integrity Regulatory Update
Current state-of-the-art wire ropes, updated regulation references, and flow diagrams to assist with the wire rope integrity management process have been included in the revised ‘Guidance on Wire Rope Integrity Management for Vessels in the Offshore Industry’ just published by the International Marine Contractors Association (IMCA SEL 022 Rev.1/ IMCA M 194 Rev. 1). “This document offers guidance on…
Hold-harmless Clauses May Not Be So Harmless
ITIC has warned that the so-called ‘hold harmless’ clauses in many of the contracts entered into by its members may contain pitfalls which could prejudice their rights. A mutual hold-harmless indemnity clause should provide that each party to the contract agrees to take responsibility for - and to indemnify the other against - injury and loss to its own personnel and property and its own consequential losses, even if the accident and related losses are caused by negligence.
U.S. East Coast Refiners Slash Light Crude Imports
Reuters - East Coast refiners slashed imports of lighter, sweet crudes from countries like Norway and Nigeria last year as they commissioned new rail offloading…