Shanghai 6th Best Shipping Center Globally
Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative, according to a report and index looking at the importance of the world’s key shipping centers. The Xinhua-Baltic Exchange International Shipping Centers Index 2015 was jointly published Friday by Xinhua News Agency and the London-based Baltic Exchange, an independent provider of ocean freight index.
Pacific Basin Returns to The Black
Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped it mitigate an anaemic dry-commodities shipping market. Hong Kong-listed Pacific Basin, the world's largest carrier of minor bulk cargo such as cement, bauxite and sugar, eked out US$5.8 million in net profit in the first half. The company…
Oceanteam Acquires Oceanwind
Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions. As a result of the acquisition the company’s name will be changed to Oceanteam Cable Solutions, whereby it can now fully focus and grow its worldwide cable transport, handling and storage services under the Oceanteam umbrella and in close collaboration with Oceanteam’s other entities.
China Cosco Guides H1 Profits at $306mln
China Cosco Holdings, the flagship unit of Cosco Group, is expecting a net profit of Yuan1.9bn ($306m) for the first half, against the Yuan2.3bn loss during the same period last year. Compared to the same period of last year, the company turned losses into profits in the first half of 2015. The imbalance between supply and demand in the international shipping market did not improve in the first half of this year.
AEU Presents Safety Awards
The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla. AEU, which provides solutions for workers’ compensation coverage under the Longshore and Harbor Workers’ Compensation Act, each year gives awards to the best performing ALMA members nationwide based on the rate and severity of accidents for the calendar year.
UK Navy Chooses Effer Crane Again
Cranes manufacturer Effer informs its marine crane has recently been installed aboard the U.K. Royal Navy’s patrol vessel HMS Mersey. The new 5s 275M crane, similar to those already aboard HMS Severin and HMS Tyne, was installed the first week of June in Falmouth, Cornwall, and Preffered Marine, Effer partner for the UK and Ireland, was on hand to facilitate the installation and conduct final tests on site.
US Senate Energy Panel Votes to Lift Oil Export Ban
The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil. The 22-member panel passed the bill to allow…
RoRo Launched for Royal Bahamas Defense Force
A Damen RoRo 5612 was launched this month at Halong Shipyard in Vietnam, the shipbuilder announced. The RoRo is one of nine Damen vessels ordered by the Royal Bahamas Defense Force as part of its Sandy Bottom Project. The vessel’s multipurpose capabilities will be put to use by the Defense Force in a range of situations including law enforcement, aids to navigation (ATON), replenishment at sea (RAS)…
Hapag-Lloyd Names Haeser Next CCO
Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales activities as chief commercial officer (CCO). Haeser, a law graduate, is currently managing director of Versatel GmbH, a company owned by United Internet AG. Prior to that, he held various management positions at Sixt AG, Telefonica O2 and VIAG Interkom. Haeser will take up his new position in Hamburg on October 1, 2015.
Activists Block Shell's Arctic Drilling Quest
Greenpeace protestors dangling from a bridge on Thursday in Portland, Oregon, halted an icebreaker that Royal Dutch Shell needs in northern Alaska before it can…
Fire-stricken Icebreaker Overhauled
SENER reports it has completed the engineering works relating to the re-outfit and overhaul of the Almirante Irizar icebreaker following a fire accident in an Antarctic season. In 2009, the Argentinean Navy and the Tandanor SACyF shipyard asked SENER Ingenieria y Sistemas – Argentina to deliver an engineering integral project for the repair and modernization of the Almirante Irizar icebreaker. After a series of meetings between the Tandanor design team and SENER…
Legislation Introduced to Lift Cuba Embargo
A new piece of legislation, the Cuba Trade Act of 2015, was introduced in Congress Tuesday that aims to lift the Cuba embargo and allow for U.S. businesses in the…
Google Maps Goes Coastal with Unmanned Boat
A new high-tech unmanned vessel, launched with the help of Google, will use innovative technologies from the boatbuilding and mapping fields to map shorelines and raise awareness of the impacts of global sea level rise. Originally designed to be worn by backpackers, Google's proprietary Street View Trekker camera system was provided on loan to the San Francisco Baykeeper organization, allowing them to create bay-level maps.
Bollinger Delivers 14th FRC to USCG
Bollinger Shipyards has delivered the 14th Fast Response Cutter (FRC), Heriberto Hernandez, to the United States Coast Guard (USCG). The 154-foot patrol craft Heriberto Hernandez is the 14th vessel in the Coast Guard's Sentinel-class FRC program. To build the FRC, Bollinger used a proven, in-service parent craft design based on the Damen Stan Patrol Boat 4708. It has a flank speed of 28 knots, state of the art command…
MARAD to Host Meeting on Proposed Delfin LNG License
MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility. On July 29, the Maritime Administration (MARAD)…
Substantial Demand Underscores Need for TIGER Grants
U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment…
Maritime Museum Christens San Salvador Replica
The Spanish ship San Salvador is the embodiment of California’s origin story. The ship’s voyage in 1542, with Juan Rodríguez Cabrillo at the helm, established California as one of the places in America’s landscape where we can say our country truly began. Nearly 500 years later, the Maritime Museum of San Diego has launched a full-sized, fully functional replica of the original galleon. The San Salvador was successfully lowered into the Pacific Ocean by Marine Group Boat Works of Chula Vista.
Maritime Experts to Debate Coastal Shipping, IWT Prospects
The opportunities and challenges faced by India’s coastal shipping industry as the country strives for a more optimal modal mix among various modes of transport…
Diana to Acquire Two Post-Panamax Containerships
Diana Containerships Inc. announced that yesterday it signed, through two separate wholly-owned subsidiaries, two Memoranda of Agreement to purchase from an unaffiliated…
Intelsat Records $598 mln Q2 Revenue
Satellite services provider Intelsat S.A. has reported total revenue of $598.1 million and net income attributable to Intelsat S.A. of $60.2 million, or $0.47 per common share on a diluted basis, for the three months ended June 30, 2015. The company reported adjusted net income per diluted common share1 of $0.70 for the three months ended June 30, 2015. Intelsat S.A. reported EBITDA1, or earnings before net interest…