Modi Urges GE to Make Ships in India
Indian Prime Minister Narendra Modi invited US-based General Electric (GE) to manufacture ships in India claiming that the country offers immense opportunities for the ship-building sector. Pitching his government's 'Make in India' campaign, he pointed out that India is in a position to export marine defense equipment to other third world countries at cheaper-than-expected rates. GE currently manufactures equipment like engines, which are used in ships, but does not manufacture ships in India.
Ethiopia to Use Somaliland’s Berbera Port
Ethiopia is to start using the Port of Berbera of Somaliland this month on an agreement reached between the two countries on January 29, 2015, while the use of Port Sudan has started by the importation of 50,000tn of fertilizer. Ethiopia is distributes its cargo among neighboring countries’ ports as the country needs alternative ports aside that of Djibouti. Workeneh Gebeyehu, Minister for Transport…
Indonesia Mulls Maritime Ties with Netherlands
Indonesian Maritime Affairs Minister Indroyono Soesilo has met Dutch Ambassador to his country Rob Swartbolon to discuss cooperation on maritime issues, reports The Jakarta Post. Both has agreed to explore cooperation in various maritime issues including in developing an integrated system of information and communication technology, the expansion of tourism in Lombok, West Nusa Tenggara, and the improvement of manpower capacity.
Hong Kong Ferry Disaster Captain Convicted
The captain of Hong Kong and Kowloon Ferry’s Seasmooth passenger ferry, Lai Sai-ming, was on Saturday found guilty of 39 counts of manslaughter over the 2012 Lamma island ferry disaster. He was also found guilty of endangering the lives of others at sea by a Hong Kong court. Chow Chi-wai, the captain of the other boat involved in the collision, was acquitted of manslaughter but convicted of the lesser charge of endangering the safety of others at sea.
Korea to Build World's Largest Marine Engineering Aquarium
The Korean Government is to develop the largest maritime engineering aquarium in the world for deep-sea research purposes, such as simulation experiments for the construction of maritime plants. The joint investment of public and private sector plans to build the marine engineering aquarium by 2016, which will create the perfect deep-sea environment for core designing technology research. The Ministry of Oceans and Fisheries (MOF)…
Manila Upgrades North Harbour Port
Manila North Harbour Port Inc. (MNHPI) is budgeting P1 billion ($23 million) capital expenditure this year to finance port expansion. It expects to increase container throughput once a major terminal upgrade completes. According to the MNHP chief executive officer Richard Barclay, capex last year was “probably over P2 billion including the equipment,” while target revenue for this year is more than P2 billion.
Taiwan Navy to Commission Locally Made Corvette
The Taiwan Navy plans to put its first locally designed stealth missile corvette and a new locally manufactured supply vessel into service late next month, says a press statement. There will be a ceremony to formally put the corvette Tuo Jiang and supply vessel Panshih into service is scheduled to take place in late March at the navy’s Zuoying base in Kaohsiung. Training on the 502-ton Tuo Jiang began…
Obama to Intervene in West Coast Ports Strike
U.S. President Barack Obama has asked his labor secretary, Tom Perez, to travel to California in order to help spur an agreement in talks between port operators and the dockworkers’ union that have led to closed ports along the US west coast, says White House sources. "The negotiations over the functioning of the West Coast Ports have been taking place for months with the Administration urging the parties to resolve their differences," White House spokesman Eric Schultz said in a statement.
Euroseas Reports Results FY & Q4 2014
Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period and full year ended December 31, 2014. •Total net revenues of $11.5 million. Net loss of $7.0 million; net loss attributable to common shareholders (after a $0.4 million of dividend on Series B Preferred Shares) of $7.3 million or $0.13 loss per share basic and diluted.
Juicy Yields on Energy Bonds Attracting PE Firms
Crude price volatility may not have completely closed the funding doors for US high-yield energy companies as private equity firms and new funds prepare to snap up juicy yields on offer after a recent slump in the sector's bonds. In a likely sign of things to come, GSO Capital Partners, the alternative asset manager owned by Blackstone, last week deployed cash by providing a large order for CrownRock's US$350m high-yield bond - the first such E&P offering in months.
Farmers Hit by Strife at West Coast Ports
Protracted labor strife and shipping disruptions at U.S. West Coast ports have hit farmers especially hard, posing a major barrier to perishable goods headed to overseas markets and resulting in losses estimated at hundreds of millions of dollars a week. Foreign Pacific Rim customers facing chronic delays in shipments of U.S. food and farm products are turning to other countries for produce ranging from citrus and apples to beef and pork…
U.S. West Coast Ports Reopen Briefly
Clogged ports along the U.S. West Coast reopened to cargo vessels on Friday after a daylong closure, but shippers planned to re-impose a partial shutdown through the holiday weekend barring a settlement in stalled labor talks with the dockworkers union. The shipping companies and terminal operators planned to halt loading and unloading of container ships again starting Friday night and keep the suspension in place through Monday…
West Coast Ports Backups Prompt Coffee Traders to Switch Ports
U.S. coffee importers have begun diverting shipments bound for West Coast roasters to ports on the Gulf and East Coasts due to a labor dispute that has caused prolonged backlogs in California, market sources said. Traders said they began re-routing ships carrying coffee from El Salvador and Brazil, among other origins, destined for California ports three or four weeks ago, sending them instead to ports in Houston, New Orleans, Virginia and New Jersey.
Havyard Delivers Windmill OSVs to Esvagt
Norway's Havyard Ship Technology has delivered the first of three offshore wind service operations vessels to Danish shipping company Esvagt. The 83.7-metre vessel is the first of its kind to be manufactured by the oil sector specialist and will be deployed under long-term contracts with Siemens. The vessel is the first of a pair ordered in July 2013 to work under long-term contracts with Siemens on service assignments for offshore wind farms.
Record 6 ships docked at Port Canaveral
Port Canaveral was jammed Sunday with both spectators and cruise ship passengers as, for the first time ever, six cruise ships tied up at the port’s docks. “It’s just a sign of things to come,” Port Canaveral Chief Executive Officer John Walsh said, as Port Canaveral battles to overtake the Port of Miami as the world’s No. 1 cruise port. The port’s first six-ship day is a symbolic milestone in that quest.
Singapore, India take stance in South China Sea row
India and Singapore asserts its stance in South China Sea saying no threat or force should prevail in the maritime dispute between China and its smaller neighbors like the Philippines, reports Philstar. Both countries have expressed their official positions in joint statements with the United States on the years-long tension due to overlapping claims of jurisdiction in the South China Sea. The US has…
MPA, ClassNK Ink MoU On Ship Safety
The Maritime and Port Authority of Singapore (MPA) and ship classification society ClassNK, have signed a memorandum of understanding (MoU) to enhance ship safety and environmental sustainability. "With the MOU, the first to be established between MPA and ClassNK, both parties will collaborate on maritime technologies research and development (R&D) project and conduct conferences and workshops," MPA Chief Executive, Andrew Tan said.
Taiwanese Captain Arrested in Australia
The Australian Federal Police have arrested the captain of a Chinese coal ship -China Steel Developer- for sailing through part of the Great Barrier Reef Marine Park without a pilot. Sources said that the captain — a Taiwanese national by the name of Lu — will plead guilty to a charge of being the master of a ship without a pilot in the marine park, an offence that carries a maximum fine of $85,000.