Maersk to Split Into Two Divisions
It's oficial now. Danish conglomerate A.P. Moeller-Maersk A/S said Thursday it is splitting into two separate units - transport and energy businesses. Denmark’s biggest company moves ahead with an historic shake-up of the conglomerate to generate growth, as it battles with the worst shipping downturn in years and a historic oil-price rout. "As announced on 23 June 2016, the Board of Directors has tasked the management of A.P.
IMO Joins Kenya’s World Maritime Day Celebrations
Kenya has marked this year’s WorldMaritimeDay with celebrations held in Mombasa, Kenya (20 September). International Maritime Organization (IMO)’s Juvenal Shiundu delivered a goodwill message on behalf of IMO Secretary-General Kitack Lim, reiterating this year’s World Maritime Day theme – “Shipping: indispensable to the world” – which emphasizes that maritime transport is the backbone of international trade…
Germany's DST Bags IWAI Contract for Designing Special Vessels
With its objective of providing safe, environment friendly and economical mode of transportation through National Waterway-1 (NW-1), the Inland Waterways Authority of India (IWAI),Ministry of Shipping signed a contract with DST, Germany to design vessels, especially suited to navigate the 1620 km stretch of NW-1. Speaking on the occasion a senior IWAI official said it is a revolutionary step and a milestone in the journey of NW-1.
Hanjin Gets $45 Million Credit Line From KDB
Korea Development Bank has offered a conditional credit line of 50 billion won ($45 million) to help ease supply-chain disruptions caused by the collapse of Hanjin Shipping Co, says a report in Reuters. An estimated $14 billion of cargo was trapped on Hanjin ships when the world's seventh-largest container carrier collapsed late last month, creating havoc ahead of the crucial holiday shopping season.
Crowley Awards Scholarships to Four Cal Maritime Students
Crowley Maritime Corp. presented four California Maritime Academy (CMA) students with Thomas B. Crowley Sr. Memorial Scholarships during last night’s Containerization and Intermodal Institute’s Connie Awards dinner in Long Beach, Calif. Crowley’s Jenny Terpenning, recruiter, marine personnel, presented the awards to recipients, Christiana Harrell, Bonnie Claire Muchnick, Taylor Sullivan and Alex Yorkman.
Port of Va. Signs Long Lease for International Gateway
Governor Terry R. McAuliffe on Wednesday announced that The Port of Virginia has signed a new, long-term lease for Virginia International Gateway (VIG) that clears the way for the port to begin work on doubling capacity at the deep-water container terminal. “This is an historic event for The Port of Virginia,” Gov. McAuliffe said. The new lease, which was negotiated during a two-year period, will give the port oversight of and operating rights at the terminal until 2065.
Two VARD Module Carrier for Topaz Energy and Marine
Vard Holdings Limited has secured a contract for the design and construction of two additional Module Carrier Vessels for Topaz Energy and Marine (“Topaz”). The vessels, of VARD 9 21 design and measuring 123 by 16.5 meters, are sister ships of a series of 15 identical Module Carrier Vessels previously contracted by Topaz for delivery from VARD’s shipyards in Tulcea and Braila in Romania, and Vung Tau in Vietnam. They will be operated by Topaz through a consortium led by Blue Water Shipping.
ABTO Warns of Liquefaction Problems at Terminals
The Association of Bulk Terminal Operators has warned that cargo liquefaction – an issue commonly associated with the seaborne transportation of unprocessed mineral ores and concentrates – is also an issue which bulk terminals need to pay attention to. Speaking at the ICHCA ISP76 panel meeting in London last week, ABTO chief executive Ian Adams, said: “The liquefaction of bulk commodities is a serious issue which can and should be managed effectively shoreside.
China COSCO Shipping Not to Hike Freight Rates
China COSCO Shipping will not raise its shipping prices as it had planned, reports Caixin quoting shipping agency representatives at Shanghai’s port. The shipping giant has given up its plan to take advantage of Hanjin Shipping’s bankruptcy by raising prices after a surge of international cargo prices turned out to be temporary, says the report. The shipping market witnessed a spike in prices in the first few days after Hanjin filed for court receivership on Aug. 31.
Submarine Optical Fibre Cable to Link Andamans, Mainland India
India's government has decided to build a submarine cable between the city of Chennai and the Andaman & Nicobar Islands, which is about 200km east of India, way out in the Bay of Bengal. The estimated cost of the project, which is Rs 1,102.38 crore ($164,5 million) includes operational expenses for 5 years, and is likely to be completed by December 2018. The project would allow the implementation of e-governance initiatives; establishment of enterprises and e-commerce facilities in the islands.
Wärtsilä Nacos Platinum for Four Cruise ships
Wärtsilä has been awarded the contract to supply a broad range of integrated automation, navigation and dynamic positioning equipment, as well as the complete uninterruptable power systems (UPS) for four new cruise ships. Two of the vessels are being built at the Meyer Werft shipyard in Papenburg, Germany, while the other two vessels are to be built at Meyer Turku in Finland. The contract with Wärtsilä was signed in the second quarter of 2016.
Daintith Named CFO, Rolls-Royce
Rolls-Royce announced that Stephen Daintith has been appointed Chief Financial Officer and as an executive director of Rolls-Royce Holdings plc. Stephen will take up his new role in 2017, succeeding David Smith who will leave Rolls-Royce after three years to pursue other business interests. Stephen Daintith is currently Chief Financial Officer of Daily Mail & General Trust plc. Previously he was employed…
IOC Eyes GSPC's Stake in Mundra LNG terminal
Indian Oil Corp. Ltd (IOC) wants to buy debt-laden Gujarat State Petroleum Corp.’s (GSPC) entire stake in the in the under-construction Rs 4,500 crore ($672 million) GSPC-Adani liquefied natural gas (LNG) terminal in Mundra, Gujarat, reports Livemint. GSPC is looking to exit the 5 million tonnes a year LNG import terminal project, which is likely to be completed by mid-2017, says sources. GSPC LNG Ltd…
Shipping Partnerships Create Economic Opportunity in Everett
Every month Eastern Car Liner (ECL) loads aerospace containers for transport back to Japan to be reloaded with new airplane parts. Typically, this is the only cargo loaded on this vessel at the Port of Everett – until recently. This weekend, for the second time, Everett-based log supplier, Forest Marketing Enterprises, Inc. (FORMARK) will be delivering nearly 3.3 million board feet of logs to the Port of Everett to be loaded under deck of the ECL chartered ship.
VULKAN Couplings at SMM
Buoyed by encouraging response at the international maritime trade fair SMM in Hamburg, VULKAN Couplings prepared interesting impressions from the booth and the round table maritime in the evening as well as statements referring to new products and concepts at VULKAN. The coupling specialist has in addition expanded its systems competence to include acoustics. At the SMM VULKAN unveiled its new highly flexible coupling VULKARDAN F…
Capsized Migrant Boat: Egypt Arrests Crew Members
Egyptian authorities have arrested four crew members of a boat carrying almost 600 migrants which capsized off Egypt's coast, killing at least 43, judicial sources said on Thursday. The boat sank on Wednesday in the Mediterranean off Burg Rashid, a village in Egypt's northern Beheira province where the sea and the Nile meet. Rescue workers have so far saved 169 people, which means the death toll could hit several hundred.
MarAd Stresses Economic Impact of Shipyard Jobs in NE
In comments before the international Tradewinds Ship Owners Forum in New York City, Maritime Administrator Paul “Chip” Jaenichen highlighted the more than 42,700 jobs, $3.6 billion in labor income and $4.78 billion in GDP associated with employment for shipbuilding and repair in the northeast region. “American shipyards provide a dependable, highly trained workforce that produce, repair and maintain some of the world’s most modern and innovative vessels.
ABS' New Subchapter M Guide
[Press Release] ABS announced the publication of the ABS Guide for Building and Classing Subchapter M Towing Vessels. The Guide is designed to aid domestic owners comply with new U.S.
U.S. Shale Gas Shipment to Arrives in Britain
The first shipment of gas fracked from U.S. shale will arrive in Britain next week, upping pressure on Scotland to reassess its opposition to fracking. Chemicals giant Ineos will be importing ethane…
General Atomics Battery for New Navy Submersible
General Atomics Electromagnetic Systems (GA-EMS) signed a contract with Lockheed Martin to provide Lithium-ion Fault Tolerant (LiFT) battery systems for use on U.S.