Port of Cleveland Approves Refinancing
The Port of Cleveland’s Board of Directors voted today to provide up to $161 million to support the combined refinancing of four previous economic development projects, as well as approved the acceptance of a Homeland Security grant. Issuing up to $5 million in lease revenue bonds in support of the Euclid facilities of Babcock & Wilcox Nuclear Operations Group, which is refinancing the outstanding balance of Port bonds issued in 2004.
Severe Weather Closes Sydney and Port Botany
Inchcape Shipping Services (ISS) Australia is advising that Sydney and Port Botany have been closed to all shipping movements since 22:00hrs yesterday evening until further notice…
Floating Storage at Sea Stalls Despite Falling Oil Prices
Despite falling oil prices, traders in recent weeks have booked just a few tankers to store cargoes at sea as higher freight costs outweigh any profit play for now.
British Marine Society & Sea Cadets Await New Training Ship
The British Marine Society & Sea Cadets will say farewell to its training vessel, TS Royalist, while a replacement with the same name is already under construction at the Spanish Gondan Shipyard.
Barge Master Installed on Walk-To-Work Vessel
On October 14 the Barge Master BM-T40 system motion-compensated knuckle boom crane pedestal was installed on the new Wagenborg Walk-to-Work vessel, designed and built by Royal Niestern Sander. The vessel and Barge Master system will be delivered in the first quarter of 2015. NAM will use the motion compensated crane for service and maintenance of gas production platforms in the Southern North Sea. Offshore platforms have become smaller and more flexible during the last forty years.
Faststream Awards Inaugural Leadership Scholarship
Faststream today named Chad Fuhrmann the recipient of its inaugural Scholarship for Leadership Excellence. The scholarship, valued at $9,500, will afford Fuhrmann the opportunity to attend a continuing education program hosted by Louisiana State University’s E.J. Ourso College of Business Stephenson Entrepreneurship Institute. Fuhrmann is the business director for the Americas at Maritime Assurance and Consulting, Ltd. (MAC), where he is responsible for all U.S. operations.
Newbuild Containership Enters CMA CGM Fleet
The CMA CGM Group announced the maiden voyage of the CMA CGM Elbe on October, 14, 2014 in Dalian (China). The CMA CGM Elbe (9400 TEUs) is the second of a series of 28 vessels from 9,400 TEUs to 10,900 TEUs, vessels which will be delivered from now to the third quarter of 2016. Last June, the group received the delivery of the first vessel of this series: the CMA CGM Danube. Each vessel of this one-of-a-kind series will be named after a famous river of the world.
Denmark Lobbies for IMO Top Job
Denmark and its maritime industry are lobbying to get the top position at the International Maritime Organization, a United Nations body that wields great influence…
Statoil’s President & CEO Helge Lund Resigns
Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign. Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect. According to a Reuters report, Statoil's long-serving chief executive will take on the top role at smaller rival BG…
Oceangrip in Partnership with Legacy Paddlesport
OceanGrip, a leading manufacturer of high-quality, marine-grade non-skid padding protection, announced today that it has been selected as the original equipment manufacturer (OEM) for Legacy Paddlesports’ Native Watercraft kayak line. OceanGrip will provide its signature non-skid pad for all Native Watercraft kayaks. Durable and shock-absorbent, the versatile OceanGrip pads offer traction and protection for any vessel surface—from luxury yachts to personal watercraft, kayaks and surfboards.
General Dynamics Delivers Micro Encryptor to U.S. Navy
General Dynamics C4 Systems’ cyber-defense products team recently delivered the 100,000th TACLANE®-Micro (KG-175D) in-line network encryptor to the U.S. Navy’s Space and Naval Warfare Systems Command (SPAWAR). SPAWAR develops, delivers and sustains communications capabilities for warfighters, keeping them connected wherever they are around the world. Introduced in 2007, the rugged TACLANE-Micro is…
Early Contract Termination for Loke Viking
As previously communicated, Viking Supply Ships has entered into an agreement with a major oil company for the charter of four AHTS vessels. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017. The drilling season is expected to commence around May each year. Viking Supply Ships has received an early termination for AHTS vessel Loke Viking…
EVPs of Petroleum Geo-Services Swap Responsibilities
From November 20th Magne Reiersgard, Executive Vice President (EVP) Operations, and Per Arild Reksnes, EVP Marine Contract of Petroleum Geo-Services, will change roles, with Mr.
ST Marine Celebrates Naming of RNOV Al Seeb
Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the naming ceremony today for the first Patrol Vessel (PV) built for Royal Navy of Oman (RNO). The Guest-of-Honour was His Excellency Sayyid Badr bin Saud bin Harub Al Busaidi, Minister Responsible for Defence Affairs of the Sultanate of Oman. ST Marine won the contract to design and build four PVs for RNO in 2012.
Bore and P&O Ferries JV add RoRo Vessel
Bore and P&O Ferries announces today that they have agreed to add a further RoRo vessel to the long-standing partnership in the North Sea. M/V Estraden will be added to the vessel portfolio sailing for P&O alongside M/V Norsky, M/V Norstream and M/V Bore Song. She will move to her new route in January 2015. M/V Estraden is a similar vessel to M/V Norsky and M/V Norstream, which have proven suitable for the P&O cargo trade.
MacGregor Mooring Systems for Tender Rigs
MacGregor, part of Cargotec, has won new contracts that will see electrically-driven versions of its mooring systems fitted to two new tender assist drilling rigs for Thailand-based Mermaid Maritime Public Company Limited. The Self-Erected Drilling Tender (Hull No. CMHI (JS)-151-1 and Hull No. CMHI (JS)-151-2) are under construction at China Merchants Heavy Industry (Jiangsu) Co Ltd with delivery planned for 2016. The order was booked into third quarter 2014 order intake.
Update from Cyclone Hit Indian Ports
Two ports on the Eastern Coast of India that suffered extensive damage from the Hudhud cyclone have provided a status update. Yesterday night port declared the impact of cyclone HudHud as ‘force majeure’. As a very preliminary assessment of the port, “Hudhud” has caused extensive damage to Port infrastructure, including conveyor system, storage sheds, and other storage areas. The extent of damage will only be assessed and estimated in due course.
Carnival Corp MOU with CSSC to Promote Cruise Industry
Carnival Corporation & plc the world’s largest cruise company, today announced it has signed a memorandum of understanding (MOU) with the China State Shipbuilding Corporation (CSSC) to explore the possibility of a joint venture aimed at accelerating the development and growth of the Chinese cruise industry, expected to be one of the largest cruise markets in the world with 4.5 million passengers by 2020, according to the Chinese Ministry of Transport (MOT).
Ocean Rig Partners Files for IPO
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary…