Little Rock Port Authority Reports June Shipping
Total barge tonnage through the Port of Little Rock in May was 66,000 net tons. Dock activities continue to compare favorably to calendar year 2015. Logistic Services, Inc.
Finland's Wartsila Sticks to 2016 Outlook
Finnish ship engine and power plant maker Wartsila reported weaker-than-expected quarterly profit and order intake on Wednesday. Wartsila cited tight competition in the energy markets and overcapacity of ships. However, the company repeated its full-year profitability outlook, surprising analysts. Second-quarter adjusted earnings before interest and tax (EBIT) was 122 million euros ($134.4 million) versus forecast of 138 million euros in Reuters poll.
Capesize, Panamax Vessels Drag down Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday due to weaker rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 10 points, or 1.34 percent, at 736 points. The capesize index fell 49 points, or 4.97 percent, to 937 points. Average daily earnings for capesizes…
LCS 6 Completes Full Ship Shock Trials
Austal Limited successfully completed Full Shock Trials by USS Jackson(LCS 6) on July 16, 21016. The Navy stated that USS Jackson (LCS 6) “performed exceptionally well” during her third and final underwater explosion as part of her Full Ship Shock Trials (FSST). This is a significant milestone for the LCS program and Independence variant warship. Last month, the Navy commenced FSST on JACKSON to validate her operational survivability after exposure to underwater shock.
CNO Visits Chinese North Sea Fleet
Chief of Naval Operations (CNO) Adm. John Richardson visited Chinese North Sea Fleet headquarters, July 20 to meet with fleet commander Vice Adm. Yuan Yubai. The goal of the five-day trip is to improve mutual understanding and encourage professional interaction between the two navies. "This is an important time in a very important relationship," said Richardson. "As growing nations and global powers, our two navies will play a pivotal role in the direction this relationship takes.
Three Keppel Dredgers for Jan De Nul
Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to…
Fitch Affirms Adani Ports and SEZ at ‘BBB-‘
Adani Ports and Special Economic Zone Limited (APSEZ) today informed the Stock Exchanges that Fitch Ratings, Singapore has affirmed India-based APSEZ’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘. According to Fitch, the Outlook is Stable. The agency has also affirmed APSEZ’s senior unsecured rating at ‘BBB-‘ and the ‘BBB-“ rating on its USD 650m 3.5% senior unsecured note due 2020. Mr.
Antwerp Port Inks Iranian Collaboration
Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran. Bandar Abbas accounts for 90% of the in- and outgoing containers of Iran and for nearly half of the 200 million tonnes of freight handled by the 11 Iranian ports put together. The Memorandum of Understanding was signed at the headquarters of the Ports & Maritime Organisation in Teheran which is responsible for managing these 11 ports.
Aussie Defence Minister Pyne Hits Ground Running
The new Minister for Defence Industry, the Hon Christopher Pyne MP met with His Excellency Mr. Christophe Lecourtier, Ambassador of France to Australia, Captain (Navy) Yann Marboeuf, Defence Attaché to Australia, Vice Admiral Jacques Cousquer, Head of International Development Division (Asia Pacific Region), Direction générale de l’armement (DGA) in the French Ministry of Defence, and Captain (Armement) Raphaël Jammes, Submarines Cooperation Programs Manager, DGA.
NYK Selects INTTRA eVGM Service
INTTRA, the world's ocean shipping electronic marketplace, and NYK Line, informed that NYK has joined the rapidly growing INTTRA eVGM network for facilitating compliance with new container weight requirements adopted by the International Maritime Organization (IMO), which went into effect on July 1, 2016. NYK is offering the INTTRA eVGM Service to customers as one solution via which they can exchange…
ABS Advisory Solutions Integrate ERM
ABS Group anticipated the update to Circular A-123 from the United States (US) Office of Management and Budget (OMB) requiring US executive departments and agencies to adopt enterprise risk management (ERM), and has expanded its suite of ERM advisory solutions aimed at risk-informed decision making and mitigation strategies. To help organizations comply with the new guidance and manage their risk exposure…
General Dynamics Bags $19 Mln U.S.Navy Order
General Dynamics Electric Boat has been awarded an $18.9 million contract modification for the continued development of the Virginia Payload Module (VPM). The funds will be used to procure two VPM pre-production setups to support the manufacturing start of the VPM payload tubes. The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines.
Royal IHC, NETICS Join Forces
Royal IHC has entered into a partnership with NETICS, a civil engineering and consultancy agency. A leading global player in engineering with dredged sediments, NETICS specialises in ‘building with nature’ and designs innovative hydraulic structures made from reclaimed sediment. NETICS possesses unique expertise and has developed cutting-edge techniques for creating structures such as dikes, dams, breakwaters, islands and environmentally friendly riverbanks.
CMA CGM Completes NOL Acquisition
CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital. Monday July 18 marked the last day of trading in shares of NOL on the Singapore Exchange. Trading in NOL was suspended. Singapore's former national shipping company was acquired in a 3.38 billion Singapore dollar ($2.5 billion) acquisition by the French shipping line CMA CGM.
Sub-Committee on III Meets
The third session of the Sub-Committee on Implementation of IMO Instruments (III) has been opened by International Maritime Organization (IMO) Secretary-General Kitack Lim. The agenda includes the regular casualty analysis work to review marine safety investigation report and produce lessons learned from marine casualties. The review of port State control procedures and the updates to the survey guidelines…
Maersk Takes Business from India to East Africa Faster Than Ever Before
The Mawingu Express, Maersk Line's direct service from India to Kenya, offers the fastest transit times in the market and better port coverage to bring business closer to East Africa. "Through our global connections coupled with superior customer care and market expertise, we serve as the perfect partner to realise your business ambitions in the region," says a statement from the company. • Mombasa - Benefit from our direct service the Mawingu Express which has the fastest transit time.
Offen Group Deploys DNV GL Energy Efficiency Training
The three shipping companies of the Offen Group, CPO Container, CPO Tanker and CPO Bulker, have decided to implement DNV GL’s e-learning course “Energy Efficiency on Board” across their entire fleet. The E-learning tool, developed by DNV GL’s Maritime Academy, enables users to identify potential savings in a simple way and to implement them in ship operation. "As a large modern shipping company, we…
DNV GL Seeks to Standardize Floating Turbines
DNV GL launched a new joint industry project (JIP) together with thirteen global partners to mutually develop a Recommended Practice for the coupled analysis of floating offshore wind turbines. Despite the fact that the wind industry has a strong focus on the development of floating offshore wind turbines, it is still missing a widely recognised and unified approach for the practical methods to build and validate the numerical models, in accordance with the requirements in the standards.
UASC Rolls Out New India Subcontinent – Europe Services
UASC announced two new Indian Subcontinent – Europe services (IEC1 & IEC2), to better align with its customer's needs, providing a superior service between India Subcontinent and Europe with enhanced reliability and more competitive transit times. These new, fixed day services are set to replace the current IEC1 service. By continuously introducing new and upgrading existing services, UASC can provide its customers with superior service reliability…
Foxx Names New Members to Maritime Industry Advisory Panel
U.S. Transportation Secretary Anthony Foxx announced the appointment of 29 new members to the Marine Transportation System National Advisory Committee (MTSNAC).