BLM Supports Expanding Oil and Gas Pilot Offices
Bureau of Land Management (BLM) Director Neil Kornze today testified before the Senate Energy and Natural Resources Committee on a bill that would increase the efficiency of oil and gas permitting on public lands and coordination among agencies by continuing the BLM’s Oil and Gas Pilot Office program. During his testimony on S. 2440, the BLM Permit Processing Improvement Act of 2014, Kornze described…
KKR, Borealis Maritime JV acquires 9 container ships
KKR and Borealis Maritime today announced the acquisition of a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank. Financial details of the transaction were not disclosed. The company informed that their partnership with KKR has been well timed to deploy capital during what they believe will prove to be a low cycle in the shipping industry.
USCG Responds to Plane Crash 51 mi SE Of Chincoteague Island, VA
The Coast Guard is responding to a plane crash Saturday approximately 51 miles southeast of Chincoteague Island. Watchstanders at the Coast Guard 5th District in Portsmouth received notification at approximately 2:40 p.m. that a single-engine Cirrus aircraft with only the pilot aboard failed to land at Manassas Regional Airport as scheduled. Instead the Cirrus remained at an altitude of approximately 13,000 feet and continued into restricted air space in the vicinity of Washington, D.C. Two U.S.
Oil Train Regulation Passes in California
California lawmakers on Friday passed legislation requiring railroad companies to tell emergency officials when crude oil trains will chug through the state. The bill would require railroads to notify the state's Office of Emergency Services when trains carrying crude oil from Canada and North Dakota are headed to refineries in the most populous U.S. state. It passed its final vote in the Assembly 61-1, with strong bipartisan support within the state legislature in Sacramento.
Indian Investigators Drop Case Against Billionaire Birla
India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in 2012 after an auditor's report on revenue loss to the exchequer from allocations of coal blocks. The CBI filed the case against Birla and former Coal Secretary P.C. Parakh last year in relation to a block allocated in 2005 to Hindalco Industries, part of the $40 billion Aditya Birla Groupled by Kumar Mangalam Birla.
Drydocks World to Participate in SMM 2014
Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding, Machinery, and Marine Technology (SMM) Exhibition, from September 9-12, 2014. Taking place in the strategic shipping hub of Hamburg, Germany, Drydocks World will attend SMM 2014 with representatives from Maritime World, Dubai Chamber and Dubai Council for Marine and Maritime Industries.
VIKING Saatsea Puts Crew Training in its Place
VIKING Saatsea will be at SMM 2014 to showcase the revolution it has brought about in crew training – moving everything on board to cut costs, speed up certification, ease administration and create greater on-the-job satisfaction for crew being trained. Esbjerg, Denmark, September 2014 – SMM 2014 sets the scene for a fundamental change in the way shipowners and offshore asset owners train their crews to comply with STCW and OPITO requirements…
Indian Govt to Sell Stakes of State Companies
India will sell part of the government's stake in some state-run companies in the next two to three months, Finance Secretary Arvind Mayaram said on Saturday, without naming any company.
Chinese Solar Company to Buy Germany's SAG Solarstrom
German solar firm SAG Solarstrom AG, which filed for insolvency late last year, said on Saturday it agreed to be acquired by Shunfeng Photovoltaic International for 65 million euros ($85 million). The small German company, which builds and operates solar power plants, said all jobs were safe and additional jobs would be created under Shunfeng's growth strategy for the business. Solar companies have been under pressure from plunging prices for solar panels and cells…
Frost & Sullivan’s Excellence Awards 2014 recognises 18 companies
Frost & Sullivan held its inaugural New Zealand Excellence Awards on 28 August 2014 at Villa Maria, presenting a total of 18 awards to companies across the industries of Food, Energy and Power, Healthcare and Information Communication Technologies. The New Zealand Excellence Awards will be an annual event to honour companies that have demonstrated outstanding achievement and superior performance in their respective market segments.
DoD Award Dredging, Ship Maintenance, Charter Contracts
US Department of Defense informs of placement of contracts for Chesapeake Bay dredging, dry-docking of USS Pearl Harbor, and charter of surface escort vessels. Norfolk Dredging Company, Chesapeake, Virginia, has been awarded $18,784,248 for a dredging requirement for Baltimore harbor and channels. Maintenance dredging will take place in various channel sections in the Chesapeake Bay, Maryland. Fiscal 2014 operations and maintenance (Army) funds in the amount of $18…
Tankship Owners TORM Get Credit Facility Extension
Denmark-based TORM say that all lenders have supported the agreement to extend the existing Super Senior Working Capital Facility by six months until 31 March 2015 to facilitate the completion of the recapitalization process. Given the current limited draw, the extended facility will be reduced from USD 100m to USD 50m on TORM’s request, however the extension remains subject to continued progress in the recapitalization process.
MARAD Shipbuilding Loan Guarantee
The launch of the Bravante IX, built in a U.S. shipyard, was from the investments made by the Maritime Administration (MARAD) just three years ago. The investment in and upgrading of the infrastructure can be an economic game changer, increasing competiveness and fostering long term job creation. Over the last five years, the work of two MARAD grant and financing programs have come together at Eastern Shipbuilding of Panama City, FL, to provide a perfect example of this principle at work.
Modi Seeks Japan's Help for 'inclusive vision'
Indian Prime Minister Narendra Modi arrived in Japan on Saturday seeking to capitalise on his affinity with Japanese counterpart Shinzo Abe to strengthen security and business ties on his first major foreign visit since his landslide election victory in May. Modi is one of only three people that Abe follows on Twitter, while the Indian leader admires the Japanese premier's brand of nationalist politics.
Fukushima Fallout: Resentment Grows
Like many of her neighbours, Satomi Inokoshi worries that her gritty hometown is being spoiled by the newcomers and the money that have rolled into Iwaki since the Fukushima nuclear disaster almost three and a half years ago. "Iwaki is changing - and not for the good," said Inokoshi, 55, who echoes a sentiment widely heard in this town of almost 300,000 where the economic boom that followed the worst nuclear accident since Chernobyl has brought its own disruption.