G7 Meeting to Tackle Sea Row in Asia Pacific
Group of Seven (G7) leaders will call for respect for the rule of law and peaceful resolution to conflicts in a joint statement to be issued Friday at the end of their two-day summit, taking a swipe against China's territorial ambitions in the South China Sea, reports Nikkei. The leaders, without singling out China, will dismiss “unilateral actions that could alter the status quo” in a declaration to be issued after their summit, the sources said. The document will not explicitly name Beijing.
Outdated Systems Placing Vessels at Risk of Cyber-Attack
Maritime vessels are under significant threat of cyber-attack because many are carrying outdated software and were not designed with cyber security in mind, according to new research. But operators could easily mitigate against such dangers by updating security systems, improving ship design and providing better training for crews, the study led by Plymouth University’s Maritime Cyber Threats Research Group suggests.
Iranian Port Deal: Modi's Masterstroke
Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar the first foreign port which India is involved in developing to such a large extent. India and Iran, along with Afghanistan, have agreed to develop the southern Iranian port of Chabahar, giving India vital access to Central Asia, as well as highlighting regional rivalries and burgeoning friendships.
Euroseas Faces Headwinds, Reports Loss
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31, 2016. •Total net revenues of $6.5 million. Net loss of $2.8 million; net loss attributable to common shareholders (after a $0.4 million of dividend on Series B Preferred Shares) of $3.3 million or $0.40 loss per share basic and diluted.
China Okays CMA CGM's Acquisition of NOL
CMA CGM S.A. (CMA CGM), a global leader in container shipping, announces that it has received today confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03), has been cleared by the Anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM). With regulatory approvals now received from MOFCOM and the European Commission on its proposed voluntary general cash offer for NOL as announced on 7 December 2015 (Offer)…
Mobile Shiploader Delivered to Port Metro Vancouver
Multipurpose heavy lift operator AAL has completed a series of shipments to Port Metro Vancouver (PMV) of a mobile grain shiploader to be installed at the Port’s Pacific Terminal run by grain handler Viterra. The largest component was over 66m long and weighed 250mt and, once assembled and operational, will increase the Terminal’s shipping capacity and allow for the loading of post-Panamax sized vessels.
Damen Unveils Multi-role Utility Vessel
Work is due to start shortly on the first of a new class of Damen utility vessel UV2410. This multi-role platform is the result of extensive consultation with customers active in the aquaculture industry in the U.K. and Norway, the shipbuilder said. For these customers it was important that the rule length of the new vessel be no more than 24 meters and, for U.K. customers in particular, that it fits within the 200 Gross Tonnage limit.
Technip Bags Statoil's Umbilical Supply Contract
Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway. This field is located approximately 8 kilometers North West of the Oseberg field center at block 30/9-30/6 on the Norwegian continental shelf, at water depths of 100 meters. The contract covers project management, engineering and manufacture of over 9 kilometers of static steel tube umbilical.
Mount Whitney Makes History
USS Mount Whitney (LCC 20), the U.S. 6th Fleet flagship, made history today as the first amphibious command ship to have an MV-22B Osprey land on its flight deck, May 23, 2016. The MV-22B and crew are part of Marine Medium Tiltrotor Squadron 263 (VMM-263), “The Thunder Chickens,” based out of Marine Corps Air Station, New River in Jacksonville, North Carolina. The aircraft, “Thunder 00,” successfully executed four starboard and three port landings…
Nordic Shipholding Profits below Market Expectations
For the 3 months ended 31 March 2016, Nordic Shipholding A/S generated a profit after tax of USD 1.5 million, compared to USD 2.7 million in the same quarter last year. The average daily TCE rate earned by the vessels in the Handytankers Pool was below the forecasted daily rate, and also lower than the rates earned during the same period in 2015, whilst the LR1 vessel (Nordic Anne) tracked the forecasted daily rate.
Singapore Exchange in Talks to buy Baltic Exchange
Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart…
CMA CGM Proceeds with NOL Takeover after China Okay
CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China, the French group said. CMA CGM received on Wednesday confirmation of the deal's approval by the anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM), it said in a statement. "With regulatory approvals…
Kongsberg Tech for Peruvian Arctic Research Vessel
Kongsberg Maritime has been chosen to deliver an integrated subsea technology systems package including two HUGIN Autonomous Underwater Vehicles (AUV) for a new Peruvian Navy Hydrographic & Oceanographic research vessel. The 97 meter BAP Carrasco’is built at Construcciones Navales P. Freire shipyard in Vigo, Spain. The advanced new research ship will have Polar capability and be classified with PC7 notation to perform research in Peruvian waters…
New Connections for France, Port of Rotterdam
With the launch of a new rail shuttle and inland shipping link, connections between Northern France and the port of Rotterdam are now better than ever. Five times a week, a train leaves Rotterdam for Dourges, and the inland shipping schedule also includes a number of departures per week. These connections, which were launched this spring, serve as a hub from and to other destinations in the South of France.
Commodities Shipping Firms Struggle to Ride Out Worst Downturn
Shipping companies transporting coal, and iron ore and other commodities are urgently seeking ways to conserve cash and withstand the worst market downturn on record…
Baltic Index Down on Lower Demand for Larger Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday hurt by sluggish demand for large vessel sizes.
ClassNK Updates Steel Ships Survey/Construction Guide
Classification society ClassNK has released printed versions of its 2016 Rules and Guidance for the Survey and Construction of Steel Ships. ClassNK regularly reviews…
Naviera Nabia Orders Newbuild from Gondan
Gondan Shipyard signed a new contract for the construction of a new vessel for Naviera Nabia, part of Acuña Group, from Bueu (Pontevedra-Spain). This new catamaran will operate passenger routes near the Ria of Vigo. The deal was signed at the At the Navalia 2016 Exhibition and was attended by María Jesús Otero Acuña, manager of Acuña Group, and from the shipbuilding company, Álvaro Platero Díaz, President of Gondan Shipyard…
SOLAS Container Weight Requirements FAQ
With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers the industry’s frequently asked questions (FAQ). What are the new rules? On July 1, 2016, new requirements to verify the gross mass of a packed container enter into force under the International Convention for the Safety of Life at Sea (SOLAS).
Statoil Says Sees European Gas Prices Bottoming Out
Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply…