Hamburg Süd for Sale?
Speculations about an upcoming sale of Hamburg Süd have intensified in the market, says a report in WSJ. Hamburg Sud, the seventh-largest container-shipping operator world-wide in terms of capacity, is part of the Oetker Group, a family-owned German conglomerate, involved in shipping, banking, food and beverages. The Oetker family is discussing a sale of the shipping business, but no decision has been reached, one of the people said.
The Arctic Is In Meltdown
The Arctic has lost almost 95% of its older ice cover since 1984, says NASA. The area covered by Arctic sea ice at least four years old has decreased from 1,860,000 square kilometres in September 1984 to 110,000 square kilometres in September 2016. ABC News quoted a report produced by the Arctic Council -- an intergovernmental forum of eight member countries that include the U.S., Canada and Russia -- stressed that changes to the Arctic have "global implications…
S.Arabia Costructs Huge Shibuilding Complex
A Reuters report quoting Saudi Arabia's energy minister Khalid al-Falih said that the country expects a huge ship repair and shipbuilding complex that its national oil company Saudi Aramco is developing at Ras al-Khair on the kingdom's east coast to cost over 20 billion riyals ($5.33 billion). The government will finance the infrastructure of the complex such as dredging and other work as it did with other cities Jubail and Yanbu that have become major industrial hubs.
Indian To Boost Maritime Security Ties with Sri Lanka
To enhance bilateral maritime relations, Indian Chief of Naval Staff Admiral Sunil Lanba, has embarked on a five-day visit to Sri Lanka. According to PTI report, during Sunil Lanba's visit, he will hold bilateral discussions with President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and senior dignitaries including the Chief of Defence Staff and the three Service Chiefs. The Admiral will also attend the 'Galle Dialogue' which is being held at Colombo.
Enhancing Search and Rescue Services in Western Africa
International Maritime Organization (IMO) is supporting countries in western Africa to enhance their national search and rescue (SAR) services with a regional training course and meeting taking place in Lagos, Nigeria this week. The activities are assisting Member States under the “Nigeria SAR Region” (Benin, Cameroon, Congo, Democratic Republic of Congo, Equatorial Guinea, Gabon, Nigeria and Sao Tome and Principe) to develop their regional SAR Plan and to increase regional cooperation.
Injured Crewman Hoisted over 170 mi off Columbia River
A Coast Guard aircrew performed a medical evacuation of an injured crew member from a 618-foot cargo vessel over 170 miles offshore from the Columbia River, Saturday. An MH-60 Jayhawk helicopter crew from Coast Guard Sector Columbia River in Warrenton safely transported the 23-year-old man to the air station where he was transferred over to emergency medical personnel, who took him to Columbia Memorial Hospital in Astoria.
Akastor, Mitsui, MOL Close JV Transaction
Akastor ASA (OSE: AKA) announced today that the Agreement with MITSUI & CO., LTD ("Mitsui"), and Mitsui O.S.K. Lines, Ltd. ("MOL"), to create a joint venture with 50/50 ownership between AKOFS Offshore AS ("AKOFS") and Mitsui/MOL has now been approved and concluded according to the terms and conditions described in the press release of September 20, 2016. As a consequence, AKOFS will realize a cash gain of USD 66 million…
Designees to The TechnipFMC Board Announced
Technip S.A. (Euronext: TEC) and FMC Technologies, Inc. (NYSE: FTI) today announced their respective designees to the Board of Directors of the combined company, TechnipFMC, effective at the close of the proposed combination. The Board of Directors of the combined company will comprise 14 directors, seven designated by FMC Technologies and seven designated by Technip as set forth below. FMC Technologies will appoint the initial Independent Lead Director…
Navig8 Receives 8th Interline-Coated Tanker
Navig8 Chemical Tankers Inc. today announced that it has taken delivery of the Navig8 Tanzanite, a 49,000 DWT IMO2 Interline-coated chemical tanker, from STX Offshore & Shipbuilding Co., Ltd. (“STX”), the final 49,000 DWT IMO2 Interline-Coated vessel from the Company’s newbuilding program. The Navig8 Tanzanite is also the eighth and final vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA (“Ocean Yield”) announced on April 1, 2015.