ACR Electronics Acquires Ocean Signal
ACR Electronics, Inc., a Drew Marine company, announced its acquisition of Ocean Signal, Ltd. “Ocean Signal has pioneered a number of innovations in marine safety,” said Gerry Angeli, President of ACR Electronics. “Their ability to create a strong brand in a short period of time is a testament to their product design, quality and understanding of the market. The combination of the ACR and Ocean Signal brands bolster the product lines for the marine marketplace.
Onomichi Marine Tech Center to Be Established
Eco Marine Power (EMP) in cooperation with its strategic partner, Teramoto Iron Works Co. Ltd., have agreed to establish a development and test facility in Onomichi, Hiroshima, focused on marine technologies for the shipping and offshore industries. The new facility, to be known as the Onomichi Marine-Tech Test Center or Onomichi MTTC, will be co-located at the Teramoto Iron Works Chojahara Workshop.
Vessel Draft Restrictions Lifted at Oregon Inlet, NC
The U.S. Coast Guard (USCG) informed it has lifted restrictions and enforcement of the regulated navigation area Thursday at Oregon Inlet between Bodie and Pea Islands.
Baltic Index Down on Lower Rates for Panamax, Smaller Vessels
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday, pulled down by a fall in rates for panamax and smaller vessels.
US Navy Ships Arrive in Busan
U.S. Navy sailors from the Arleigh Burke-class guided-missile destroyers USS Preble (DDG 88) and USS Fitzgerald (DDG 62) along with the Los Angeles-class fast-attack…
Shipbuilder HII Declares Quarterly Dividend
U.S. shipbuilder Huntington Ingalls Industries (HII) announced today that its board of directors has declared a quarterly cash dividend of $0.40 per share, payable on June 12, 2015, to shareholders of record as of the close of business on May 29, 2015.
Indonesia Pledges Support for Ferry Safety
The Indonesian Minister for Transportation Ignasius Jonan, visited the International Maritime Organization (IMO) April 28, confirming his country’s support for the IMO’s initiative to establish global safety standards for domestic ferries. This follows the adoption in Manila, Philippines, last week of guidelines to address the topic. The minister also told IMO Secretary-General Koji Sekimizu of his country’s plans to expand and modernize its maritime sector…
Savannah, Ga. Opposes Offshore Drilling
The city council of Savannah, Georgia on April 30 unanimously approved a resolution opposing offshore seismic testing and oil drilling activities, the Savannah Morning News reported. The city’s opposition comes as the U.S. Bureau of Ocean Energy Management (BOEM) is trying to open the mid and south Atlantic coastal areas to exploration and development of offshore drilling as part of the Obama Administration’s…
Vale Debt Rating Cut On Iron Ore Price Drop
Brazilian mining company Vale SA was downgraded late on Thursday by the Standard & Poor's credit-rating agency over concern that a drop in iron ore prices will erode…
US Says China's Activity in South China Sea Won't Help Peace
The U.S. State Department said on Friday that China's activities building on reclaimed land in the South China Sea do not contribute to peace in the region, regardless of how the facilities are used.
US Weekly Oil Rig Count Decline Slows
The fall in the U.S. oil rig count slowed this week, data showed on Friday, suggesting the collapse in drilling may be coming to an end as prices recover after falling 60 percent from June to March.
Ports Association Praises Harbor Funding Legislation
The American Association of Port Authorities (AAPA) lauded H.R. 2028, the U.S. House of Representatives’ fiscal 2016 Energy and Water Appropriations bill that passed today, together with two bipartisan amendments included in the bill. Of particular interest to AAPA is the portion of the bill that funds the U.S. Army Corps of Engineers’ navigation program, which manages improvements and maintenance of federal navigation channels at U.S. ports. The first amendment, offered by Rep.
US Navy Might Accompany Other Nations' Ships in Strait of Hormuz
The U.S. military signaled on Friday it may allow warships to accompany other nations' vessels through the Strait of Hormuz, after Iran's seizure of a container…
Yangzijiang Shipbuilding in Early Talks on Rongsheng Investment
China's Yangzijiang Shipbuilding Holdings Ltd is considering a possible investment in troubled peer China Huarong Energy Co Ltd , formerly known as China Rongsheng…
Canada Announces Funding for Commercial Fishing Safety
Canada’s Minister of Transport Lisa Raitt, joined by Members of Parliament from Atlantic Canada, announced a new Commercial Fishing Safety component of the Government…
ABS Reports ‘Stellar Growth’ in 2014
Classification society American Bureau of Shipping (ABS) hosted its Annual Meeting in New York on April 28, 2015. “2014 was a year of firsts and excellence in performance for ABS,” said Christopher J. Wiernicki, ABS chairman, president and CEO. In 2014, the ABS-classed fleet grew by more than 7 percent year-on-year to 221 million gross tons (gt). ABS captured more than 31 percent of the liquefied natural gas (LNG) carrier orderbook and 23 percent of the very large LPG carriers on order.
FEIS for Magnolia LNG Project Due in November
The Directors of Liquefied Natural Gas Limited advised that the United States Federal Energy Regulatory Commission (FERC) has issued the Notice of Schedule for Environmental…
US Navy is Buying the Wrong Ship, Costing Taxpayers Billions
The United States will spend $585 billion on its armed forces in 2015 — the biggest military budget in the world by far. That’s just the Defense Department budget and doesn’t include the tens of billions of dollars that Washington spends on veterans, the purview of the Veterans Administration, or nuclear-weapons development, which falls under the Department of Energy. There’s tremendous pressure in Congress to spend less.
Canada to Scale Back Plan for Navy Ships, Go Over Budget
Canadian officials said on Friday a C$26.2 billion ($21.5 billion) program to build 15 naval ships could end up below target and over budget, the latest challenge…
T&T Salvage Completes OPA 90 Response in the Great Lakes
T&T Salvage was activated under its Salvage and Marine Firefighting Agreement to respond to a 600-foot laker that went aground on the St Mary’s River near DeTour Village, Mich. T&T Salvage’s naval architects and salvage master then developed a comprehensive salvage and lightering plan to ensure the safety of the ship, crew and responders, while protecting the environment. Once the salvage plan was approved by the Coast Guard and with T&T salvage personnel overseeing operations onboard the ship…