MSHIPCO Exploring Strategic Options
MSHIPCO has engaged Global Capital Markets Inc. (GCMI), a middle market M&A investment bank with global reach to advise on corporate strategic options including sale, licensing or other transactions. As creator of the M80 Stiletto, which employs MSHIPCO’s proprietary M-hull technology, MSHIPCO’s designs have redefined naval military movement on the water, the company said. By applying creative design to physical science…
S. Korea's Daebo Int. is 3rd Dry-Bulk Shipper to File for Bankruptcy This Month
A third dry cargo shipper has filed for bankruptcy this month following a collapse in freight rates to historic lows in what shippers call the worst market conditions since the 1980s.
US Hoists Partners with Boat Lift
US Hoists Corporation of Calverton, New York has teamed up with Boat Lift SRL of La Morra, Italy to provide the marine industry with marine hoists and shuttle machines. As the North American representative, US Hoists will provide parts and service domestically for Boat Lift customers. Boat Lift’s standard design includes 90-degree steering system with electronically synchronized winches; sliding lifting points and remote control equipped with display and remote assistance service.
Florida Companies Push for Ferry Service to Cuba
Catamaran builder Brian Hall is too young to remember when ferries plied the route between Florida and Cuba in the 1950s, but he has plans to be among the first to revive the once-popular route.
Korean Shipbuilding Investment Creating Risk for Government: OECD
Two of Korea's major shipbuilding financiers are creating fiscal risks for the government due to the shipbuilding industry's struggles, the Organization for Economic…
US Pays Philippines $1.97M for Reef Damage
The U.S. government has a made a $1.97 million payment to the Philippines for damages to a protected coral reef caused by a U.S. Navy minesweeper. The USS Guardian ran aground on the Tubbataha Reef, a UNESCO World Heritage Site, in January 2013. The park's management, the World Wide Fund for Nature, and marine experts said that 25,240 square feet of corrals were damaged, according to the Navy Times.
Royal Netherlands Navy Selects Wavestream Bilge Filters
The Royal Netherlands Navy has adopted Wave International's Wavestream bilge filters for all relevant size craft to ensure compliance with bilge water discharge legal requirements, theUK-based company announced today. Technautic BV of Wormerveer, The Netherlands Wavestream distributor, is supplying the Navy with the Wavestream System 2. The Royal Navy spent several months of performing testing on the Wavestream systems before selecting it for adoption on its ships.
Jaxport Welcomes Consolidation of Crowley's Jacksonville Operations
JAXPORT’s Board of Directors today unanimously approved an expanded, long-term lease with Crowley Liner Services Inc. Under the agreement, Crowley will relocate its Puerto Rican service from its private terminal along Jacksonville’s harbor to JAXPORT’s Talleyrand Marine Terminal and expand its current leasehold in preparation for deployment of the company’s two new LNG-powered Commitment-Class ships. Crowley Liner Services Inc.
West Coast Port Slowdown Could Cause Two Month Delays
Congestion at the U.S. West Coast ports could take as much as two months to unwind, according to port and trade group officials, with retailers and other companies…
Study: Ocean Acidification Threatens Shellfish Production
U.S. shellfish producers in the Northeast and the Gulf of Mexico will be most vulnerable to an acidification of the oceans linked to climate change that makes it harder for clams and oysters to build shells, a study said on Monday. The report said the two regions would be more at risk in coming decades than the Pacific Northwest, which had previously suffered the most from the problem, with losses to the oyster industry estimated at $110 million, putting 3,200 jobs at risk.
Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel LNG Carriers
Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and operators. “As a result of the oil price collapse, energy companies are reducing capital budgets to protect against falling revenues.
Danish-Swedish Port Boosts Rail Freight
Copenhagen Malmö Port (CMP) has engaged in a new collaboration to increase freight traffic by train to and from Northern Harbour. The new train service starts from the Netherlands and serves Malmö three times a week. Freight traffic by rail will now increase in Malmö and Northern Harbour. The German forwarding agent Kombiverkehr has established a new train service which will serve Malmö three times a week. The first train, with a capacity up to 36 carriages, arrived on January 29.
Voyager Navigation Software for German Research Vessel
Global Navigation Solutions (GNS) reported that operators Briese Schiffahrt has chosen to install its Voyager navigation software on Germany’s newest research vessel, RV Sonne.
MMA Offshore Posts 55.8% YoY Profit Increase
MMA Offshore, the company born from the merger of Mermaid Marine Australia and Jaya Holdings in June 2014, posted a net profit of $37.7 million for the half year that ended on December 31, 2014. This represents a 55.8% increase over the same half-year in 2013 for what was formerly Mermaid Marine Australia. Revenue increased 80% year on year to $456.3 million, an increase the company credited to Australian vessel projects.
ISS Offers Advice on Philippines' Passenger Charge
ISS GMT Manila has issued clarification in respect of a change to the procedure for the collection of the International Passenger Service Charge which was introduced earlier this month.
MARAD Certifying Cruise Security, Safety Training
The U.S. Maritime Administration (MARAD) informs it has begun certifying cruise vessel security and safety training program providers. As part of the voluntary certification, MARAD will review training plans and supporting information for consistency with training standards established under the Cruise Vessel Security and Safety Act (CVSSA) of 2010, which imposes new security and safety standards on cruise ships.
ThyssenKrupp Committed to Australian Submarine Process
Germany's ThyssenKrupp is determined to take part in a selection process it hopes will take place to build Australia's next-generation submarine fleet, it said on Monday. "ThyssenKrupp Marine Systems... is committed to take part in the competitive evaluation process for the design and construction of Australia's future submarines," the German industrial group said in a statement. "We welcome the federal…
Softer Panamax Rates Drag Down Baltic Index Slightly
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged down slightly on Monday as rates for panamax vessels fell.
Kenya to Start Work on New Northern Seaport
Kenya will start construction work next month on a long-delayed new port to be built on its northern coast, next to the historic trading town of Lamu, the presidency announced on Monday.
New Box Ship Enters CMA CGM Fleet
The maiden voyage of the containership CMA CGM Rhone started in China on February 20, the CMA CGM Group announced. The 9,365 TEU vessel CMA CGM Rhone is the seventh in a series of 28 ships from 9,400 TEUs to 10,900 TEUs that will be delivered from now to the third quarter of 2016. The CMA CGM Danube, CMA CGM Elbe, CMA CGM Litani and CMA CGM Tigris are the firsts of this series of 28 vessels named after famous rivers that started being delivered on June 30, 2014.