First Phase of Historic Mexico Oil Auction Misses Expectations
Mexico auctioned only two of 14 blocks in a pivotal oil and gas tender on Wednesday, falling far short of the government's modest expectations as it begins to open…
Retailers: Short-term Transportation Bill Isn’t Enough
“Transportation funding is a long-term problem that needs a long-term solution. Today’s vote is a necessary step to keep federal transportation programs in operation, but quick fixes are not the answer. “The supply chain is the lifeblood of any retailer. Congress needs to make good use of these next few months to come up with a long-term, sustainable funding measure that provides needed stability to the programs. Any long-term bill should recognize the importance of transportation to the U.S.
Signal International Files for Bankruptcy
Facing a wave of lawsuits filed by workers recruited from India to work on the U.S. Gulf Coast, marine services company Signal International has filed for Chapter 11 bankruptcy protection to help save its business and resolve litigation, the Wall Street Journal reported. Accused of labor trafficking, marine services company Signal lost the first of many lawsuits filed against it by more than 225 Indian workers who say they were promised good jobs repairing rigs damaged by Hurricane Katrina.
USCG Helps Seize 5,000 lbs of Marijuana
A U.S. Coast Guard helicopter crew, working under the direction of Operation Bahamas, Turks and Caicos, assisted in the seizure of 5,050 pounds of marijuana worth an estimated wholesale value of $4.6 million Wednesday. While on routine patrol, a U.S. Customs and Border Protection maritime patrol aircraft located a 35-foot go-fast vessel transiting at a high rate of speed without navigation lights.
Bouchard Transportation Christens New ATB Unit
Oceangoing petroleum barge company Bouchard Transportation Co. celebrated the christening of two new vessels, M/V Kim M. Bouchard and B. No. 270, on Tuesday July 14, 2015 in New Orleans. The ceremony was honored by the Monsignor James Vlaun who blessed the vessels, and Marie Romais, wife of Dimitri Romais, Chartering Manager of SeaRiver Maritime and was attended by executives from Bouchard, VT Halter Marine and several of Bouchard Transportation Co., Inc. The B. No.
Thousands Rescued At Sea Near Libya
Around 2,700 migrants were rescued from 13 boats near the coast of Libya on Wednesday, Italy's coastguard said. A German navy vessel and a search and rescue ship…
SC Ports Post 14% Container Volume Rise
Container volumes increased 14 percent during SC Ports Authority's (SCPA) 2015 fiscal year, building upon several previous years of above-market growth with strength across all business segments, SCPA announced. "2015 was a memorable year for SC Ports Authority," said SCPA president and CEO Jim Newsome. "We reached near-record levels of containerized cargo and saw strong volume and good diversification of the breakbulk sector.
Biggest Spenders of 2015
Online ships data platform VesselsValue.com has rounded up the top spenders in terms of second hand tonnage for the first half of 2015. Leading the industry in total amount spent on second hand tonnage so far in 2015 is U.S.-based Gener8 Maritime, who spent roughly $1.4 billion on 14 vessels. The seaborne crude oil transportation services company formed earlier this year as result of a merger between General Maritime Corporation and Navig8 Crude Tankers Inc.
New Courses Offer Online Electrical Safety Training
AVO Training Institute released its new complete nine-module online course series entitled “Arc Flash Electrical Safety”, a complete electrical safety awareness…
London P&I Club Holds Strong Despite Large Claims
The London P&I Club’s 2015 Annual Report highlights an unusual run of expensive claims in the 2014/15 policy year, with progress in other areas meaning that the free reserves stand at $157.4 million. Ian Gooch, chief executive of the club’s management team, said, “During the course of the last policy year, the club was required to respond in respect of 14 claims in excess of $1 million, two of which…
Royston Supports PSV Engine Parts Overhaul
Diesel engines specialist Royston has supported and completed the overhaul and maintenance of a range of engine components for a platform supply vessel (PSV) undergoing a scheduled service at Babcock’s Rosyth facility. A change in operating schedules for the E.R. Georgina required a fast four day turnaround of 24 sets of cylinder heads, piston and connector rod assemblies and bottom end bearing bocks…
SBM Offshore Divests Stake in Turritella Project
SBM Offshore has entered an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating Floating Production Storage and Offloading (FPSO) Turritella, the company announced today. Mitsubishi Corporation (30 percent interest) and NYK Line (15 percent interest) have acquired a 45 percent combined stake in the joint venture companies.
'Kayaktivists' Take Shell Arctic Protest Nationwide
Environmental activists in the U.S. prepare to take their so-called “kayaktivism” nationwide as they urge lawmakers to revoke oil and gas exploration leases in the Chukchi Sea, says environmental group Friends of the Earth. The group’s “Shell No” day on July 18 will gather activists in 13 states and in Washington D.C. as they bring their message to President Obama’s doorstep by staging an Arctic marine scene in Lafayette Park to protest Shell and other companies drilling in the Arctic Ocean.
Will Robots Aid Maritime Search and Rescue?
The ICARUS European project aims to develop robotic tools to assist crisis intervention teams. Playing a role in developing the maritime component of this project was NATO Center for Maritime Research and Experimentation (CMRE), whose assistance including enhanced autonomy and integration between Unmanned Surface Vehicles and Unmanned Aerial Vehicles. On July 9-10, 2015, at the Portuguese Navy Base of Alfeite (Almada) in Lisbon…
Oaktree Capital Pumps $25 mln into Harkand
Harkand's key shareholder Oaktree Capital Management has reaffirmed a strong commitment with an additional $25 million of funding which will allow the company to expand its footprint in new and existing regions. As well as maintaining its operations in current market conditions, the global inspection, repair and maintenance company has recently been awarded three major frame agreements taking them into West Africa and Mexico for the first time.
CargoSmart Launches Big Schedules Search Engine
CargoSmart Limited, a global shipment management software solutions provider that leverages big data for greater visibility and benchmarking, has announced Big Schedules, a new sailing schedule search platform that helps shippers and logistics service providers manage and visualize their ocean routes. Big Schedules actively sources ocean carriers’ published sailing schedules and live vessel location…
Hybrid Propulsion for New Fairplay Tugs
The Fairplay fleet in Rotterdam welcomes two new members: The hybrid tractor tugs Fairplay IX and Fairplay XI, each equipped with a SCHOTTEL hybrid propulsion system including two SCHOTTEL Rudderpropellers SRP 4000 with hybrid gearboxes, two electric motors and an integrated steering control system, specialized for hybrid propulsion. Tugs are required to fulfill a variety of daily tasks, covering the full power spectrum, from stand by periods to towing operations.
Couplings Cure Gensets’ Destructive Vibration
Rubber-in-compression couplings help protect gas- and diesel-driven generator sets from torsional vibration and the possible catastrophic effects of resonance occurring if this were to coincide with the natural frequency of the system, says couplings manufacturer Renold Hi-Tec. The company explains torsional vibration is an inherent feature of any internal combustion engine as pulses, or peaks in torque…
Hapag-Lloyd Names IPO Banks
German container shipping group Hapag-Lloyd is speeding up preparations for an initial public offering and has mandated Deutsche Bank, Goldman Sachs and Berenberg to lead the transaction, two people familiar with the matter said. Dow Jones earlier reported that an IPO could value the group at more than 5 billion euros ($5.5 billion) and could take place as early as autumn. Hapag Lloyd and the banks declined to comment. Reporting by Arno Schuetze and Alexander Hübner
Saudi-backed Yemen Forces Take Aden Port
Saudi-backed Yemeni militiamen took over the main port of the southern city of Aden and the adjoining district of Mualla on Wednesday, residents and the fighters said…