South Korea Takes Stab at Slaying Zombie Company Menace
South Korea is getting serious about tackling its "zombie company" problem and will set up its first restructuring firm backed by the government and banks in November, spooked by some huge corporate losses and a darkening economic outlook. Korea Development Bank (KDB) will also seek to sell some of the 118 non-financial firms it controls, the government said last week - a move seen as part of its new resolve to deal with the issue.
Robots Help Map England’s Deepwater Canyons
The first true three-dimensional picture of submarine canyon habitats has been produced using a combination of marine robotics and ship-based measurements. The information captured in this new set of maps ranges in scale from the 200km canyon down to the size of an individual cold-water coral polyp, and will be used to inform the management of the only English Marine Conservation Zone in deep water.
VOSS Fluid: Tube Connection Technology
For connection of stainless steel and steel tubes above and below deck, VOSS Fluid provides the VOSSFormSQR tube forming system. The solution is certified for marine and offshore applications, even frequently-changing assembly personnel achieve process-reliable connections. Leaky connection points on ships and wind parks can quickly grow into enormous problems. Aiming to ensure that a leak does not occur in the first place and to prevent time and cost intensive localization and repair work…
Low Containership Demand: A Manageable Challenge?
Is the lack of demand for containerships a manageable challenge? The low demand on the high volume trade lanes is increasing the pressure on earnings which is already felt in the container shipping industry, says shipping association BIMCO. This was one of the views that BIMCO’s Chief Shipping Analyst, Peter Sand, shared with the participants at the Maritime Cyprus 2015 Conference as he played an active part as a panelist on the session that focused on the future of the shipping market.
Meyer Werft Offers Training for Refugees
German shipbuilder Meyer Werft and the Johannesburg educational institution in Surwold are expanding their collaboration by further developing already existing work for the integration of young people from socially disadvantaged backgrounds. The program offers refugees from various crises regions opportunities to further qualification and, with this, integrate into society, the shipbuilder said. In the first step…
‘Trash Boats’ Help Keep Waterways Clean
Elastec, a U.S. based manufacturer of pollution control equipment, is producing trash and debris collection boats to assist local governments in meeting Clean Water Act standards, aid in the reduction of floating pollutants in waterways and help protect aquatic ecosystems. The trash and debris collection vessel, designed to skim floating litter from harbors and waterways, can also be used for various marine maintenance duties from its 8- by 11-foot work platform.
New System for Marine Pipe-joining Applications
Viega LLC, a provider of pipe-joining solutions, announced the availability of the Viega SeaPress system for a variety of marine pipe-joining applications from potable water, to fuel, to fire sprinkler. The Viega SeaPress system is a 90/10 copper-nickel alloy suited for seawater systems, and according to the manufacturer is the only copper-nickel press fitting with a double-press connection. Viega SeaPress is available with adapters to transition to imperial and metric sizes.
Bristol Harbor Group Announces Two New Hires
Bristol Harbor Group, Inc. (BHGI) announced the addition of naval architect Zachary Gilfus and mechanical engineer Marissa Stutzman to its naval architecture and marine engineering practice. Gilfus is the most recent addition to BHGI, joining the team at the end of August as a naval architect and marine engineer. Gilfus graduated this past spring from Webb Institute with a Bachelor’s of Science in naval architecture and marine engineering.
Partnership Eyes Reduced CO2 Emissions
Logistics company Greencarrier Freight Service and shipping company CMA-CGM Scandinavia have initiated a long-term collaboration project to cut joint CO2 emissions by 30 percent by 2020. The partners aim to achieve this goal through the development of new and sustainable logistics solutions that will also be made available on the market. One example is a joint solution involving sea transport to Gothenburg and further transport to Torsvik, where trucks have now been replaced by rail transport.
UKHO Plans Hundreds of Port Approach Guides
The United Kingdom Hydrographic Office (UKHO) announced it continues to expand its Port Approach Guide portfolio, with coverage in Asia set to increase through the inclusion of ports in China. The UKHO's Port Approach Guides are port-scale charts that contain a range of planning and support information for some of the world's busiest ports. By providing bridge crews this information in one place, each guide can help simplify a number of passage planning tasks…
Steel Cut for Norwegian’s Next Cruise Ship
Marking the beginning of construction of the second ship in Norwegian Cruise Line’s Breakaway Plus class, a steel cutting ceremony was held Tuesday, September 15 at Meyer Werft shipyard in Papenburg, Germany. The new vessel, named Norwegian Bliss, is scheduled to be delivered in spring 2017. Once completed, the ship will weigh 165,600 gross tons, measure 330 meters in length and 41.4 meters in breadth…
SCPA Box Volumes Up; Leadership Realigned
On the heels of announcing its five-year growth, investment and cargo base expansion plans at the State of the Port, South Carolina Ports Authority (SCPA) reported…
Seanergy Acquires First of Seven Bulk Carriers
Seanergy Maritime Holdings Corp., a shipping company that owns and operates dry bulk vessels, has taken delivery of the first of seven newly acquired secondhand dry bulk vessels.
Spill Response Continues on Mississippi River
The unified command in Paducah continues its response to a spill in the Mississippi River at mile marker 937, Wednesday as active recovery efforts are underway to…
Massive FPSO Modules Installed at Brasa Shipyard
Mammoet, a service provider specializing in engineered heavy lifting and transport, said it has completed a module weighing and transport project in Brasa Shipyard, Brazil. In July 2015, SBM Offshore awarded Mammoet Brazil a contract for the weighing and transport of construction modules for the floating production storage and offloading (FPSO) vessels Cidade de Maricá & Cidade de Saquarema, both located at Brasa Shipyard (Niteroi - Rio de Janeiro).
Aquatic to Lay Subsea Power Cables off Canada
Aquatic Engineering and Construction Ltd. has been awarded a contract to lay power cables for the main provider of electricity in British Columbia, Canada. The contract will see Aquatic deliver a multi-reel solution, making the operation faster and supporting its partners to manage costs and resources, the company said. The shallow water project will commence later this week in the tidal estuary of the Strait of Georgia.
Tough Times Loom for Offshore Energy Insurance -IUMI
Speaking at this year’s IUMI conference in Berlin, Simon Williams, Chairman of IUMI’s offshore energy committee reported continuous growth in the sector with 2015 capacity reaching around $7 billion…
OSK-ShipTech Puts Polar Operations in Focus
Citing an increase of cruise operations in polar waters, naval architects and marine engineers OSK-ShipTech A/S has ventured into new strategic business areas addressing…
Diana Inks Six-year Term Loan Facility
Press release - Diana Containerships Inc. has announced that on September 10, 2015, it signed a six year term loan facility with The Royal Bank of Scotland plc for up to $148 million…
Siemens Power and Drive Systems for New DSV
Shanghai Zhenhua Heavy Industries Co. Ltd (ZPMC) has commissioned Siemens to equip the latest diving support vessel being built for Toisa Ltd. with complete drive and power systems. According to Siemens, the solution is designed to improve the vessel’s reliability and maneuverability, as well as reduce fuel consumption, so lowering overall operating costs. The integrated drive system (IDS) used in the vessel…