COSCO 'bidding' for Orient Overseas
Chinese conglomerate Cosco Group is in talks to acquire smaller rival Hong Kong-based rival Orient Overseas Container Line Co. ( OOCL), Chinese media outlet Caixin reported quoting people familiar with the matter. The state-owned China COSCO will compete with Evergreen Marine Corp. from Taiwan and France’s CMA-CGM SA in the takeover bid, but COSCO was more likely to win the deal, a source from COSCO told Caixin.
Ex-Daewoo Shipyard Head Gets 10 Years in Prison
Ko Jae-ho, the former head of the ailing South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME), has been sentenced to 10 years in prison by a lower court in Seoul over accounting fraud, Yonhap News Agency reports. The Seoul Central District Court found Ko Jae-Ho guilty of manipulating the company's books in 2013 and 2014, when he was the CEO, and using them to raise bank loans.
Ships, Ports and People to be World Maritime Day Theme
World Maritime Day 2017: Connecting ships, ports and people. The importance of coherent and connected development across all maritime sectors will feature strongly in IMO’s work this year, as the Organization focuses on its World Maritime Day theme “Connecting ships, ports and people”. The theme for 2017 was launched by International Maritime Organization (IMO) Secretary-General Lim during a visit to Felixstowe, the busiest container port in the United Kingdom.
Höegh LNG Orders 4 FSRU from Samsung Heavy
South Korea's Samsung Heavy Industries Co has won one firm Shipbuilding Contract (SBC) and an agreement for three optional floating storage and regasification units (FSRUs) from Hoegh LNG Holdings. Under the deal with Norway-based Hoegh LNG Holdings Ltd., the shipyard will build the vessel by May 2019, the company said in a regulatory filing. Samsung has an option to build three more FSRU units, it said. Höegh LNG's President and Chief Executive Officer Sveinung J.
Yang Ming Rules Out Merger
The chairman of Taiwan's Yang Ming Bronson Hsieh has ruled out a merger with a boxship rival. According to him, the world's ninth-largest shipping firm has never considered the possibility of merging with another operator and does not intend to do it now. Over the past 10 years, the five shippers with the highest profit margins have been smaller players. Smaller companies do not necessarily have to be merged, he said.
IMO Welcomes Financial Security Obligations for Seafarers
International Maritime Organization (IMO) Secretary-General Kitack Lim has welcomed the entry into force today (18 January) of new obligations under the Maritime Labour Convention (MLC 2006) which require shipowners to have compulsory insurance to cover abandonment of seafarers, as well as claims for death or long-term disability of seafarers. The 2014 amendments to the MLC 2006, which comes under the auspices of the International Labour Organization (ILO)…
Govt Okays India-UAE Pact on Maritime
Indian Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Memorandum of Understanding (MoU) between India and the United Arab Emirates on Institutional Cooperation in Maritime Transport. The proposed MoU will pave way for facilitation and promotion of maritime transport, simplification of customs and other formalities, wherever possible, observed in Ports and facilitation of the use of existing installations for the disposal of waste.
TechnipFMC Begins Operations Post-merger
TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies and paris-based Technip. Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects, technologies, systems and services “from concept to project delivery and beyond” with headquarters in Houston, London and Paris. A key focus for TechnipFMC will be project economics across subsea…
World Energy Trends: What’s New in Floating Production
Oil pricing continues to hover in the mid-$50s, market confidence is slowly returning and the production floater fabrication market is stirring. A major order for a production semi was placed in early January -- with Samsung receiving a contract to build the production semi for BP's Mad Dog Phase 2 project. The $1.27 billion unit will have capability to produce 110,000 b/d oil from 14 production wells.
Odebrecht Tries Again to Shed Colombia River Stake
Brazilian construction conglomerate Odebrecht is looking to dispose of its entire stake in Colombia's Magdalena River navigability project, as the company battles…
Hanjin Shipping's Sale of Total Terminals Okayed
Bankrupt South Korean shipping line Hanjin Shipping Co Ltd won U.S. court approval at a hearing on Wednesday for the $78 million sale of its stake in U.S. terminal operator Total Terminals International LLC, overcoming objections of container companies. "My decision is to approve the sale," U.S. Bankruptcy Judge John Sherwood said, adding he would approve the transfer of the sale's proceeds to South Korea.
Shell Bolsters Offshore Wind Interests with Bid in U.S. Tender
Royal Dutch Shell has been shortlisted by the U.S. government to make a bid for an offshore wind project licence in the waters off North Carolina, as it comes under…
Oil and Trump: Russians Full of Optimism in Davos
What a difference a year makes. Twelve months ago, the mood of the Russian delegation at the World Economic Forum in Davos was distinctly gloomy, with oil prices…
NIL Supplies GenSet for FDNY Fireboat
A marine power generation and climate control products manufacturer Northern Lights, Inc. (NLI) has announced completion of a 235kW Commercial Series generator set for the Fire Department of New York. The unit – M235C13.11NYFD – was built with a number of specifications unique to the requirements of metropolitan fire-fighting, including a nonstandard base pan, shutdown switches and USCG fuel lines plumbed to the base frame.
PDVSA Terminal 'recovering' after Oil Spill
Shipping operations at one of three docks of Venezuela's main crude exporting port have "recovered" after a "minor" oil spill occurred over the weekend, state oil company PDVSA said on Wednesday…
SENER to Present LNG Bunkering Vessel Design
The SENER engineering and technology group will be at the LNG BunkeringSummit 2017 to present its revolutionary design for a liquefied natural gas (LNG) bunkering vessel. The conference is taking place in Amsterdam (Netherlands), and will run from January 29 to February 1. The use of LNG as a fuel significantly reduces carbon dioxide (CO2) emissions and almost completely eliminates sulfur dioxide (SO2), nitrous oxide (NOx), and other polluting particles.
Ivory Coast's Main Port Shut Down
Paramilitary gendarmes firing in the air sealed off access to Ivory Coast's main port on Wednesday, forcing companies including cocoa exporters to close down, as…
Worldwide Ferry Safety Association 2017 Conference
“2017 may be the global breakout year for ferries,” says Dr. Roberta Weisbrod, Chief Executive of the Worldwide Ferry Safety Association (WFSA). She takes this viewpoint because of the tremendous expansion of ferries in India, Philippines, Thailand, new beginnings in West Africa, and the high profile expansion of the Citywide ferry service in New York City, where the WFSA’s third conference on International Ferry Safety and Technology conference will be held on May 11-12, 2017.
Living Life Aboard a Floating Hospital
The author, 14-year-old Caleb Biney, is one of 39 Kid Reporters in the Scholastic News Kids Press Corps. He reports “news for kids, by kids” from onboard Mercy Ships in Africa. My parents volunteer for Mercy Ships. Founded in 1978 by Don and Deyon Stephens of Lindale, Texas, the organization utilizes hospital ships to serve people in West Africa. Vessels provide clean water, electricity, and free surgical care to people living in poverty.
Optimizing Aberdeen's Harbour Expansion Design
A £350m ($431m) development plan to expand Aberdeen Harbour was approved on December 19, 2016. HR Wallingford has been involved in the project from its initial concept stages in 2010, and will be working with Aberdeen Harbour Board right through to construction, and undertaking modelling work for the approved contractor, Dragados UK Ltd. The new facilities will include 1,400 meters of new quay, with a water depth of up to 10.5 meters.