DP World CEO Sharaf Retires
DP World today announces that, after 23 years with the Group and 11 successful years as Group CEO, Mohammed Sharaf has retired from DP World Group, effective today, to pursue other opportunities. The Board has commenced a process to identify a permanent successor. Pending that appointment, the Chairman of the Company will carry out the Group CEO’s duties and functions on an interim basis. Mohammed Sharaf…
APM Terminals Pipavav Project Profit
January 28, 2016: APM Terminals Pipavav (Gujarat Pipavav Port Ltd), operating one of western India’s gateway ports, reported a net profit of INR 533 million for the quarter ended 31st December 2015 as against INR 531 million in the previous quarter. Income from operations for the quarter ended 31st December 2015 stood at INR 1,521 million as against INR 1,404 million for the previous quarter. EBIDTA for the quarter was INR 1,001 million and EBIDTA margin stood at 61 %.
Incat Crowther's Catamaran Ferry for Lomprayah
Incat Crowther delivered Thapdaorai, the seventh catamaran passenger ferry for Lomprayah High Speed Ferries. Constructed by BP Marine, the 34m vessel is an extended version of Lomprayah’s previous delivery, Maehaad. The improvements over the previous vessel reflect feedback from the operation, as well as responding to increased patronage for the operation. The vessel has been lengthened in the mid-body…
Tidewater Suspend Dividend
Tidewater Inc. (NYSE:TDW) leading provider of Offshore Service Vessels, announced that its Board of Directors has approved management's recommendation to suspend Tidewater's quarterly dividend and common stock repurchase program. The dividend and share repurchase program suspension is part of a broader plan of reducing costs and capital expenditures in order to preserve liquidity in an oilfield services…
Navy to Christen Littoral Combat Ship Sioux City
The Navy will christen its newest Freedom variant littoral combat ship, USS Sioux City (LCS 11), during a 10 a.m. CST ceremony Saturday, Jan. 30 in Marinette, Wisconsin. Sioux City, designated LCS 11, honors the city of Sioux City, Iowa. Adm. Michelle Howard, vice chief of Naval Operations, will serve as principal speaker. Mary Winnefeld, wife of retired Adm. James “Sandy” Winnefeld, will serve as the ship’s sponsor.
IMTRA Acquires Custom Product Sales Talent
IMTRA, the leading manufacturer and importer of quality marine products, announced today the addition of Prentice Weathers to its sales team. Focusing on business development efforts for the big boat segment, Weathers has joined Imtra in a Custom Product Sales position. In his new role, Weathers is dedicated to providing excellent customer service, product support and follow-through to key clients.
Fisherman Medevaced off Cape May, NJ
The Coast Guard medevaced a fisherman 75 miles southeast of Cape May, New Jersey, Thursday. The 43-year-old man was fishing with three other people aboard the 80-foot fishing boat Starbrite when he started experiencing difficulty breathing and numbness of his extremities. Watchstanders at Coast Guard Sector Delaware Bay in Philadelphia received initial notification Thursday at approximately 8:30 a.m.
VARD's LNG Tank gets DNV GL Approval
VARD’s new LNG tank design has been granted General Approval for Ship Application (GASA) by DNV GL. The new LNG-type B-tank design is based on vertical cylindrical-shape geometry and has a patented support design. The tank is the result of a joint industry project (JIP) initiated by VARD and DNV GL in April 2015. Initially, a number of design and documentation challenges were identified, but throughout the project…
Performance Monitoring, Verification Drives Orders, Investments for Norsepower
Finnish engineering company, Norsepower today announced that it has received €3 million in investment from a syndicate led by venture capital fund Power Fund III and has installed a second rotor sail on Bore’s Ro-Ro vessel MS Estraden. Data analysis and verification by NAPA, the leading maritime data analysis, software and services provider, has been fundamental to these developments by proving the effectiveness of Norsepower’s technology.
Energy from the Ocean: The Ocean Thermal Energy Converter
Despite historic lows in traditional oil and gas energy markets, research and develoment continues in earnest on a number of projects designed to produce green energy. The latest, an Ocean Thermal Energy Converter (OTEC) from KRISO, received Approval in Principle from classification society Bureau Veritas. KRISO (Korea Research Institute of Ships & Ocean engineering), established in 1973, is a government…
Listing Freighter Drifts Towards French Coastline
A crippled cargo ship was drifting slowly towards the French Atlantic coast on Friday as rescue teams struggled to board the distressed vessel. The Modern Express…
Asia-Europe Box Rates Fall Again
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fourth consecutive week of falling freight rates on the world's busiest route, and the current level is widely seen as loss-making to shipping companies.
Singapore Slaps Heavy Fine on N. Korea-linked Shipper
Singapore-based Chinpo Shipping Company (Private) Ltd was fined S$180,000 ($125,698) on Friday for facilitating a shipment of arms to North Korea in violation of U.N. sanctions.
U.S. Navy Commander Guilty in Corruption Scandal
A U.S. Navy commander charged with accepting paid travel, prostitutes and Lady Gaga concert tickets from a Malaysian defense contractor in exchange for classified…
Weather Shutters Australia's Port Hedland
Australia's Port Hedland was officially closed earlier on Friday following warnings from the weather bureau that a tropical cyclone was developing off the northern coast…
ClassNK Releases Updates on Ship Recycling
ClassNK has released the latest updates on ship recycling on its website, including information on ship recycling facilities that ClassNK has issued Statements of…
Videotel’s API Enables Integration with Crew Management Software
Videotel, a global provider of e-Learning maritime training solutions and a company of KVH Industries, Inc., has released the Videotel Partner API, an application…
New SOLAS Requirements for Testing Instruments
Further to Class News 33/2014 and 10/2015, SOLAS regulation XI-1/7 adopted by IMO Resolution MSC.380(94) will enter into force on July 1, 2016, requiring the carriage…
Alaska Oil Spill Response Policy Revised
The policy regarding chemical dispersant use for oil spill responses in Alaska has been revised. The new policy for the Dispersant Use Plan For Alaska was announced Wednesday in Anchorage by the U.S.
Greece Ports Strike Extended
A general strike in Greece has been extended by another 48 hours and is affecting the routes of domestic and local ferries and commercial vessels calling at Piraeus…