California Vessel Response Plans Altered
Steamship Mutual advises that beginning January 1, 2016 Marine Spill Response Corporation (MSRC) will no longer provide California Shoreline Protection (CASP) and…
US Oil Drillers Cut Rigs for a 6th Week in 7
U.S. energy firms cut oil rigs for a sixth week in the last seven, data showed on Thursday, a sign drillers were still waiting for higher prices before returning to the well pad.
Crowley Scholarships Aid Four UW Students
Crowley Maritime Corporation recently awarded Thomas B. Crowley Sr. Memorial Scholarships to four seniors studying at the University of Washington’s (UW) Michael G. Foster School of Business. The students, Joshua Banks, Kainen Bell, Maninder Grewal and Xuan Liao, were each chosen to receive a $2,500 scholarship for the 2015-2016 academic year based on their demonstrated financial need, community involvement and leadership skills.
Scorpio Bulkers Sells Five Capesize Ships
Scorpio Bulkers, Inc. announced today that it has entered into agreements with unaffiliated third parties to sell three Capesize dry bulk vessels and two newbuilding…
Urals Prices Weaken in Med, Baltic
Russian Urals crude price differentials weakened in the Mediterranean and the Baltic due to ample supplies, traders said on Thursday. In the Platts window, Litasco sold to Shell a 80…
U.S. Grain Prices Soar as Floods Shut Waterways
U.S. grain farmers scrambled to find shelter for their crops and handlers hunted for alternative transportation routes, as widespread floods shut waterways from…
China Confirms Second Carrier being Built
After months of speculation, China confirmed on Thursday it is building a second aircraft carrier to go with an existing one bought second-hand, as neighbours worry…
Iran Denies Rocket Launch Near U.S. Warships
Iran denied on Thursday that its Revolutionary Guards launched rockets near the U.S. aircraft-carrier Harry S. Truman and other warships as they were entering the Gulf on Saturday.
Storm Shutters Some North Sea Output
Loose barge drifts by platforms in North Sea; BP platform evacuated, output shut down. A fierce storm in the North Sea forced oil firms to evacuate platforms and…
Obituary: Christer Olsson, Stolt-Nielsen Chairman of the Board
The Board of Directors of Stolt-Nielsen Limited announced the passing of Christer Olsson, Chairman of the Board. He was 70. Mr. Olsson had served as a Director of the Company since 1993…
Drifting Barge Missed Valhall North Sea Platform
A drifting barge has missed BP's Valhall platform in the North Sea by some two kilometres, a spokeswoman for the Rescue Coordination Centre for southern Norway told Reuters.
Korea to Create $1.2bln Shipping Fund
The South Korean government will create a US$1.2 billion ship investment fund to aid the shipping industry which has been struggling due to decreasing global trade. A report by South Korea's Yonhap News Agency said the fund will help shippers buy and sell vessels with less financial risk. The fund, aims to "aid the shipping industry which has been struggling due to decreasing global trade". Fund will "help shippers buy and sell vessels with less financial risk as the Korea Trade Insurance Corp.
China's Maritime Economy Expands by 8 Pct Annually
The total production value of China's maritime industry grew by an average of 8.4 percent annually from 2011 to 2014, representing over 9.3 percent of the GDP each year, reports China's official media. During the same time frame, the industrialized utilization of ocean water had accelerated, according to the 2015 report on China's marine economy development issued by the State Oceanic Administration (SOA).
India: New Opportunities Unveiled in Shipping Sector
The Ministry of Shipping has taken many proactive and progressive interventions in the areas of shipbuilding, port development, inland waterways and coastal shipping this year for the development of the maritime sector in the country. The key initiatives includes Sagarmala Project, Special Purpose Vehicle to provide efficient last mile rail connectivity to Major Ports, Incentive for Shipbuilding and ship-repair Industry…
Indian Ministry of Shipping to Promote Ease of Biz
Promoting ease of doing business has been at the core of the efforts of the Ministry during the year. Focus has beenonsimplifying procedures by removing irritants that make it cumbersome to carry on business smoothly. Obsolete Rules under the Merchant Shipping Act, 1958 weeded out: The Ministry of Shipping has decided to rescind 13 Rules under the Merchant Shipping Act, 1958 (as amended), having found them to be obsolete and unnecessary.
India Bullish on Maritime Industry
For the development of maritime sector in the country, India has rolled out some important projects and signed MoUs, asscording to the Ministry of Shipping. India signed an MoU with Iran for developing Chahbahar Port. An SPV, Indian Ports Global Ltd has been formed with equity participation from Jawaharlal Nehru Port and Kandla Port to execute the project. Ministry of Shipping has prepared a vision for coastal shipping…
64% Gowth for LNG Bunkering Market
Detailed insights and analysis of the global market for LNG bunkering fuel have been included in a new market research report recently published by Transparency Market Research (TMR). The report includes an analysis of market’s historical statistics to present an overview of the growth trajectory exhibited by the global LNG bunkering market over the past few years and forecasts the course the market is likely to adopt over the report’s forecast period.
Cyber at Sea: House-Passed Legislation Signals Focus on Maritime Cybersecurity
Recent developments in the United States suggest that cybersecurity of the maritime sector will come under increasing focus in 2016, says Hogan Lovells. On December 16, 2015, H.R. 3878, “Strengthening Cybersecurity Information Sharing and Coordination in Our Ports Act of 2015,” passed the House of Representatives. The Bill’s language echoes and expands upon recommendations made by the General Accountability Audit’s June 5, 2014 study Maritime Port Cybersecurity.