Cummins Opens Logistics Hub in Singapore
Cummins Inc. opened a global logistics hub in Singapore yesterday, one of the company's eight master distribution centers for parts and filters globally. The Singapore…
Halliburton Seen Facing Antitrust Issues on Baker Hughes Deal
Oilfield services provider Halliburton Co's acquisition of smaller rival Baker Hughes Inc is facing resistance from U.S. regulators who are concerned that the deal could hurt competition…
FMC Approves Northwest Seaport Alliance
Upon competitive review and analysis of the Port of Seattle/Port of Tacoma Alliance Agreement, the U.S. Federal Maritime Commission (FMC) has voted unanimously to allow the Northwest Seaport Alliance to become effective as scheduled on July 23, 2015. FMC said its decision is based on a determination that the agreement is not likely at this time, by a reduction in competition, to produce an unreasonable…
Working Toward a Low Carbon Future
Recently, Pilita Clark, the Environment Correspondent at the Financial Times, wrote a very interesting article about a new report, ‘The New Climate Economy’, which I would highly recommend reading. The New Climate Economy was commissioned in 2013 by the governments of seven countries: Colombia, Ethiopia, Indonesia, Norway, South Korea, Sweden and the United Kingdom. Its reports are completely independent…
Cosco Xiamen Orders Aluminum Fast Ferry
CoCo Yachts and AFAI Southern Shipyard Guangzhou Panyu ltd have been awarded a new building contract with Cosco Xiamen for a Coastal Cruiser 322 aluminum fast ferry. The newly built Coastal Cruiser 322 will replace Cosco Xiamen’s current fast ferry with on the passenger service between Xiamen P.R. China and Kinmen Taiwan. The Coastal Cruiser 322 will have feature passenger saloon on main deck with economy seats and a spacious business class and VIP arrangement on the upper deck.
Dredging Company Sentenced for Worker’s Death
Dredging NZ has been fined $79,500 and ordered to pay $42,000 in reparation after the death of a worker, crushed on a dredging barge in West Park Marina, Auckland…
L-3 Receives Award for U.S. Navy EOSSs
L-3 KEO announced it has been awarded a multi-million dollar contract option from the Naval Sea Systems Command (NAVSEA) for nine MK 20 Electro-Optical Sensor Systems (EOSSs).
Durban’s 90-year-old Dry Dock Set for Repair
The 90-yer-old Prince Edward Graving Dry Dock in Durban, which is owned and operated by Transnet National Ports Authority (TNPA), will be undergoing a R30 million ($2.4 million USD) repair project on its outer caisson over the next four months. This is the third and final phase of a repair program on the structure, which was deemed unsafe and in need of repair due to the dry dock’s age and general need for maintenance.
Custom Cranes Installed Aboard Nigerian OSV
Global offshore crane manufacturer Sormec has supplied matching cranes for a Dutch-built vessel operating in one of Nigeria's largest deepwater oil fields. The Italian firm was tasked with manufacturing two M350/EL hydraulic elbow knuckle-boom marine cranes to be equipped aboard an offshore supply vessel (OSV) for the Awaritse Nigeria Ltd vessel Prince Job I, now based in Chevron’s Agbami Field, one of Nigeria's largest deepwater discoveries.
DHT Holdings Changes Dividend Policy
Crude oil shipper DHT Holdings, Inc. announced it has changed its policy regarding dividend and capital allocation. As a result of the current tanker market, DHT’s new plan will see the company return at least 60 percent of its ordinary net income (adjusted for extraordinary items) to shareholders. Further, DHT intends to use a significant amount of surplus cash flow after returning such capital to shareholders to deliver its balance sheet.
CNO Puts Warfighting First in Navy’s Five-year Plan
U.S. Chief of Naval Operations (CNO) Adm. Jonathan Greenert on Monday highlighted the U.S. Navy's intended track and investments in a document that outlines the Navy’s navigational plan for the next five years. "This year's navigation plan highlights our Navy's key investments, which support missions and functions outlined in the defense strategic guidance (DSG)," said Greenert in the document released Monday.
Three More Workboats Built for Jordan
Three newbuild vessels have been delivered from Sanmar Shipyards to the Aqaba Port Marine Services Company (APMSCO) for the Sheikh Subah Al Ahmad Al Subah LNG terminal at Aqaba, Jordan, the shipbuilder announced. The overall contract comprises four 80-metric-ton bollard pull specially modified Terminal RAstar 2800 ASD tugs, two conventional twin screw Rascal 1500 line-handling tugs, all designed by Robert Allan Ltd. of Canada, and a pilot boat designed by Camarc Ltd in the U.K.
New Standard for Offshore O&G Project by DNV GL Led JIP is Cost Saving
Variations in owner, operator and regulatory requirements during engineering and construction phases at South Korean shipyards present a huge challenge for operators and drive up costs. DNV GL has kicked off a joint industry project (JIP) with Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and Marine Engineering Company (DSME) and Samsung Heavy Industries (SHI) that will establish a new international standard for offshore oil and gas projects.
Second Damen ATD 2909 Tug for SA Navy
Damen Shipyards Cape Town (DSCT) is currently building a Damen ATD 2909 Tug named Inyathi – Buffalo in English – to be delivered to the South African Navy in January 2016. Now in the production phase, this is the second tug the SA Navy has ordered from DSCT. The first, named Imvubu - meaning Hippo – was delivered beginning July 2015. These tugs are to replace two existing harbour and coastal tugs, De Neys and De Mist, built in 1969 and 1978 respectively.
Argentinian Center Installs Engine Room Simulator
Buenos Aires, Argentina. Transas Marine has delivered its leading Engine Room Simulator ERS 5000 TechSim to the Center for Marine Engineer Officers and Chief Engineers in Buenos Aires, Argentina. The Center for Marine Engineer Officers and Chief Engineers is the corporate and trade association that brings together Merchant Navy Officers specialising in machinery. These professionals are responsible for the operation…
BHP Billiton Injects $240m into Port Hedland
BHP Billiton has approved $240 million (BHP Billiton share) to purchase six additional tugs and construct a new eight pen Tug Harbour at Hunt Point in the Port Hedland Port.
HLG Bags Abu Dhabi Port's KIZAD Contract
The Habtoor Leighton Group (HLG) has been awarded a contract with revenue of AED263 million (AUD96 million) for the construction in Abu Dhabi of Khalifa Industrial Zone (Kizad) Area A Secondary Infrastructure (Phase 1B) for Abu Dhabi Ports. The methodology will include extensive dewatering, excavation, pipe-laying and road construction works. HLG has been involved in the construction of different phases…
Gazprom becomes Public Joint Stock Company
The procedure of renaming Open Joint Stock Company (OJSC) Gazprom into Public Joint Stock Company (PJSC) Gazprom has finished. The change in the Company's legal status is reflected in the new version of the Articles of Association approved by the annual General Shareholders Meeting on June 26 and registered under a statutory procedure on July 17. The Company's name was changed with a view to bring it in line with the provisions of Chapter IV of the Civil Code of the Russian Federation.
Goldenport Sells Thira
Goldenport Holdings Inc. the international shipping company that owns and operates a fleet of dry bulk and container vessels, announces today the sale of a container vessel, 'Thira'. The Company has agreed the sale of the 1997 built container vessel to an unaffiliated third party, "BSL Thira Shipping Limited", for a cash consideration of US$6.85 million. The vessel's delivery is due to take place on 21 July 2015.
Piracy Attack on Small Tankers Continues - ICC
Published today, a new report from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) highlights a continuing trend in South East Asia in the hijacking of small coastal tankers by maritime pirates, averaging one attack every two weeks. According to the report, five small tankers were hijacked in South East Asian waters in the second quarter of 2015 alone, bringing the total number of vessels hijacked globally in 2015 to 13.