Star Bulk Sets Terms on Reverse Stock Split
Athens-based Star Bulk Carriers Corp has determined to effect a 1-for-5 reverse stock split of the Company's common shares. The Company's shareholders approved the reverse stock split and granted the Board the authority to determine the exact split ratio and proceed with the reverse stock split at the Company's annual general meeting on December 21, 2015. When the reverse stock split becomes effective…
Hundreds of Scientists Urge Obama to Halt Arctic Oil Drilling
Nearly 400 scientists from more than a dozen countries signed a letter urging U.S. President Barack Obama to take the Arctic Ocean out of the next federal offshore lease sale plan, thus ruling out the possibility of offshore drilling in the Arctic in the near future. Scientists from 13 countries have signed the letter saying global warming will be accelerated by burning oil found in the Arctic Ocean.
Russia Aims it Big With Arktika, World's Largest Icebreaker Ship
The floating out of the world’s largest nuclear-powered icebreaker Arktika in Russia’s St. Petersburg shows Russia's ambitions to control the top of the world in the 21st century. The Arktika launched early on June 16, ahead of its original 2017 schedule. Powered by two nuclear reactors, the 568 foot leviathan displaces over 33,000 metric tons of water and can break through ice 10 feet thick and 13 feet deep, according to Sputnik News.
Shipbrokers Challenge Baltic Exchange
Several key dry bulk shipbrokers have formed the Competitive Ship Brokers Limited (CSBL) to challenge the Baltic Exchange over their role in the market as it tries to sell itself to the Singaporean financial giant SGX, reports the Telegraph. Eleven-member CSBL formed to campaign for better terms for providing the daily data that forms its lucrative cargo indices including the Baltic Dry, which is used as a bellwether for global trade.
Nuclear Sub Vladimir Monomakh to Join Pacific Fleet
TASS reports that Vladimir Monomakh Borey class nuclear-powered ballistic missile submarine (Project 955) will complete the voyage to the Pacific Fleet before the yearend, quoting Commander-in-Chief of the Russian Navy Admiral Vladimir Korolev. The Russian Navy has started receiving fourth-generation Project 955 Borei-class (Dolgorukiy-class) submarines recently. It has three of them now - the Yuri Dolgoruky, Alexander Nevsky and Vladimir Monomakh.
Indonesia Again Seizes Chinese Fishing Boat
Indonesian navy officials detained a Chinese boat along with seven Chinese crew members for allegedly fishing in Indonesian maritime territory in the disputed South China Sea region, Ap reported quoting Indonesia's navy spokesman. The Indonesian warship KRI Imam Bonjol-383 responded to a report from maritime air surveillance officials that 12 foreign fishing boats were illegally working in the Natuna Sea, First Admiral Edi Sucipto said.
Seaspan Rejects Hanjin’s Proposal on Charter Rate
The container ship-leasing company Seaspan Corp declined Hanjin Shipping Co.’s request for a cut in charter rates by about 30 percent, dealing a blow to efforts by South Korea’s biggest liner to revamp debt amid a prolonged trade slump, reports Bloomberg. Hanjin Shipping operates seven container vessels leased from Seaspan. Seaspan recently said there were $11.6 million in charter-hire arrears from Hanjin Shipping. Gerry Wang, CEO of Seaspan, said: “We do not accept any rate cut.
Crowley Scholarships for Four Maine Maritime Academy Students
Crowley Maritime Corp.’s Thomas B. Crowley Sr. Memorial Scholarships have helped to further educational opportunities for four students of Maine Maritime Academy (MMA). The four recipients, J.T. DiGuglielmo, Jordan Harmon, Sean O’Connor and Luke Olson, were chosen based on their excellent grades, demonstrated financial need and plans to pursue careers in the maritime industry. DiGuglielmo, from Milton…
USCGC Sequoia Visits Saipan, Open for Tours
USCGC Sequoia (WLB-215), homeported in Apra Harbor, Guam, is scheduled to arrive in Saipan today, for a port visit before continuing aids to navigation operations in Western Oceania. The Sequoia will be open to the public for tours Sunday from 12 p.m. to 4 p.m., at the Port of Saipan in Tanapag Harbor. All children must be accompanied by an adult. Pets are not allowed aboard the cutter. Coast Guard crewmembers will be standing by to answer questions about Sequoia.
IMB: Beware Commercial Impact of Cyber Attacks
The International Maritime Bureau (IMB) is asking shipping and maritime companies to be vigilant to the potential commercial impact that cyber-attacks can cause. IMB says that cyber security is not only about trying to identify and to prevent systems on board ships from getting hacked or ‘taken over’. “There is also a very real danger that emails being sent to and from ships are monitored or altered. This could have huge commercial effect on vessels,” an IMB spokesman said.
Amid Melting Arctic Ice, Kerry sees Looming Climate Catastrophe
Standing near Greenland's Jakobshavn glacier, the reputed source of the iceberg that sank the Titanic over a century ago, U.S Secretary of State John Kerry saw evidence of another looming catastrophe. Giant icebergs broken off from the glacier seemed to groan as they drifted behind him, signaling eventual rising oceans that scientists warn will submerge islands and populated coastal region. Briefed by researchers aboard a Royal Danish Navy patrol ship…
Indonesian Navy fires on Chinese boat, injures fisherman
An Indonesian naval vessel fired on a Chinese fishing boat on Friday, injuring one person, China's foreign ministry said, the countries' third reported confrontation…
Houston International Seafarers Centers to honor Aalund in September
On September 24, 2016 the Houston International Seafarers Centers will host their Annual Maritime Gala . Niels Aalund, Senior Vice President, West Gulf Maritime Association, will be honored as the " Bronze Anchor Award” recipient. Niels Aalund, serves as an Officer and as Senior Vice-President, West Gulf Maritime Association, with primary responsibility for advocating on behalf of member companies (steamship agents…
U.S. Merchant Marine Academy Graduates 229
The U.S. Merchant Marine Academy (USMMA) at Kings Point graduated 229 new Merchant Marine and Military Officers as part of its Class of 2016 commencement ceremony today. The keynote speaker, Gen. Darren W. McDew, Commander, U.S. Transportation Command (USTRANSCOM), gave the commencement address before a crowd of more than 2,200, including graduates, family members and representatives from the federal government, U.S. military and maritime industry. “Your craft now is leadership,” said McDew.