Mining Wastes Report Identifies Research Gaps
More scientific research needs to be done to understand and assess the environmental impacts of wastes from mining operations which have been disposed into the marine environment, a new report shows. The Joint Group of Experts on the Scientific Aspects of Marine Environmental Protection (GESAMP) report, Impacts of mine tailings in the marine environment, provides the findings of an international workshop held in Lima, Peru (in 2015) and makes a number of recommendations for future work.
DryShips Buys First Very Large Gas Carrier
DryShips Inc., a diversified owner of ocean group cargo vessels, announced that it has acquired one Very Large Gas Carrier (VLGC) currently under construction at Hyundai Heavy Industries (HHI) for a purchase price of $83.5 million. The Company financed the closing price of $21.9 million by using part its undrawn liquidity under the $200.0 million New Sifnos Revolver, which now stands at $142.9 million.
Danish Shipping Tribunal Relocated to Viborg
As part of the Danish Government's plan "Better balance – Government jobs closer to citizens and companies" (only available in Danish), the Danish Appeals Boards Authority was established on 1 January 2017. A large number of Danish appeals boards have relocated to the Danish Appeals Boards Authority in the city of Viborg in Jutland, including the Danish Shipping Tribunal. In this connection, secretarial assistance for the Danish Shipping Tribunal…
Action Must be Taken If We are to Address UK Seafarer Shortfall
UK Chamber CEO Guy Platten has responded to the publication of the Department for Transport Seafarer Projections Review by calling on government to back its SMarT Plus proposal. The Department for Transport has this week published a study to assess the UK supply and demand for trained seafarers to fulfill roles at sea and onshore over the coming decade. The UK Seafarer Projections study identified a shortage of 3,000- 4,000 UK deck and engine officers, and 2,000 UK ratings by 2026.
Norway Awards 4 APA Licensing to MOL
The Norwegian Ministry of Petroleum and Energy has announced the results of the APA (Award in Pre-Defined Areas) licensing round, which granted four licences to MOL Norge on the Norwegian Continental Shelf. MOL Group’s Norwegian subsidiary, MOL Norge participated in the second APA licensing round since MOL Group entered Norway in 2015. The awarded licences are located in MOL Norge core areas. “MOL…
New Navy Leaders as Trump Takes Office
The Honorable Sean J. Stackley assumed the responsibilities of acting secretary of the Navy Jan. 20 at noon. Stackley, who served as the assistant secretary of the Navy (Research, Development and Acquisition) for more than eight years, will carry out the day-to-day responsibilities of the secretary of the Navy until the incoming Trump administration nominates, and Congress confirms, a replacement for Secretary of the Navy Ray Mabus. The Honorable Thomas W.
Shoreham Port staff given paediatric first aid training
With over half of Shoreham Port's employees already trained in adult emergency first aid the port offering paediatric first aid training has enabled individuals to feel more confident about delivering first aid outside of the workplace, especially if they have children or babies in their family. The Port welcomed back First Aid Co-ordinators Eddie Seaborne MBE and Karyn Ashcroft from St Vincent College…
Mattis Takes Oath as 26th Defense Secretary
By a 98-1 vote, the Senate confirmed retired Marine Corps Gen. James Mattis to be the 26th secretary of defense Jan. 20, and Vice President Michael R. Pence administered his oath of office shortly afterward.R. Pence administered his oath of office shortly afterward. Mattis is the first retired general officer to hold the position since General of the Army George C. Marshall in the early 1950s. Congress passed a waiver for the retired four-star general to serve in the position…
Scorpio lines up $172m in loans for newbuilds
Scorpio Tankers Inc. announced today that the Company has received commitments for a loan facility of up to $172 million from a group of financial institutions including Macquarie Bank Limited (London Branch), DekaBank Deutsche Girozentrale ("DekaBank"), The Export-Import Bank of Korea ("KEXIM") and Garanti-Instituttet for Eksportkreditt ("GIEK"). The loan facility, which is composed of multiple tranches…
EMGS Inks Charter for BOA Thalassa
Electromagnetic Geoservices ASA (EMGS) has signed a new charter agreement for the vessel BOA Thalassa with BOA SBL AS (owner of the vessel) at new and improved commercial terms. The new terms are valid through 1 October 2019 with an option to extend the new agreement through 1 April 2021. EMGS and the owners have agreed to a reduction of the charter hire rate by approximately 20%. EMGS and BOA SBL AS have also agreed to some additional flexibility during 2017.
Injured Man hoisted from fishing Boat 25 mi off Cape Ann, MA
A helicopter crew from Coast Guard Air Station Cape Cod hoisted a man Saturday from the fishing boat Golden Girl while 25 miles southeast of Cape Ann. The captain of Golden Girl contacted Coast Guard Sector Boston watchstanders Saturday morning and reported a crewman aboard severely injured his hand and needed medical attention. The aircrew launched and arrived on scene at about 12:20 p.m. to medevac the man. After a successful hoist, the man was taken to Massachusetts General Hospital.
Singapore Exchange to Open LNG Index
Singapore Exchange (SGX) is developing a spot pricing index for the Middle East and India liquefied natural gas markets (LNG) in collaboration with inter-dealer broker Tullett Prebon, says WSJ. The index is aimed at market participants who are forced to rely on tenders for setting up prices due to the lack of an accepted price marker. The deal is aimed at boosting Singapore's status as a key LNG hub providing storage, trading, shipping and price discovery activities.
OOIL, COSCO Deny Deal Rumors
China Cosco Shipping Corporation Limited (Cosco Shipping) and Orient Overseas (International) Limited (OOIL) denied reports that they are in negotiations for Cosco Shipping to take over OOIL subsidiary Orient Overseas Container Line (OOCL). Rumors about a deal for OOCL have grown over recent months, amid market consolidation and shake-up as the industry struggles to recover from a slump in freight rates linked to a glut of ships and slowing Chinese economic growth, reports Reuters.
Nogaholding Secures $741 mln Loan for LNG Terminal
Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA), recently hosted a dinner to mark the financial close of its LNG Terminal Project with Bahrain LNG WLL, the developer and owner of the first LNG receiving and regasification terminal to be developed on a public–private partnership (PPP) basis in the Middle East. Dr Dafer Al Jalahma, CEO of nogaholding…
Shipping Loans Weigh Down German Banks
German banks are still struggling with bad loans from exposure to the shipping industry, reports DW. The banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. A report published on Sunday by German public broadcaster ARD has suggested that the northern German states of Hamburg and Schleswig-Holstein may have to offer up to 20 billion…
Giuseppe Bottiglieri Files for Creditor Protection
Italian cargo shipowner Giuseppe Bottiglieri Shipping Co. SpA has filed for court protection while it works on a restructuring plan reports WSJ. The Naples company cited "the unprecedented world freight market crisis" that has weighed on profits across the industry. Giuseppe Bottiglieri said it has prepared a new business and financial plan that is now under discussion with creditors. With 15 ships flying the Italian flag properties…
Orix Buys RBS Shipping Loans
Japanese financial services firm Orix Corp has agreed to buy $290 million (272 million euros) worth of Greek shipping loans from Royal Bank of Scotland (RBS), Reuters reported quoting sources with direct knowledge of the deal. Reuters reported last month the British bank was close to selling at least $600 million worth of shipping loans to financial institutions including Orix. Germany's Berenberg Bank would purchase around $300 million of loans.
JonRie Winch set for McAllister Towing
JonRie Marine Winches supplied its 6th ship set of Full 90 Ton Winch to McAllister Towing of NY installed on their new tug Jeffrey McAllister. The 92’ (30 meter) x 36’ (11 meter) Z-Drive Tug was built by Eastern Shipbuilding, Panama City, FL. The 5,150 HP tugs with a bollard pull of 75 Tons is the latest addition to the McAllister Fleet. The JonRie Series 250 Escort Winch was designed to handle in the Recover mode the full Bollard Pull of the vessel. The winch is capable of 180,000 lbs.
ASL Marine gets approval to delay redeeming $105m bonds
Singapore, 20 January 2017– ASL Marine Holdings Ltd. respectively. This means the maturity dates of Series 006 Notes and Series 007 Notes will each be extended for three years to March 2020 and October 2021 respectively. By giving approval to the Consent Solicitation, Noteholders will receive a coupon step-up, with coupon rates of 5.50% p.a. and 5.85% p.a. for Series 006 Notes and Series 007 Notes…
Rotterdam port mull power-to-gas-plant development
Six Rotterdam-based parties will investigate how sustainably generated electricity, converted into hydrogen, can be used in the production of fuels. TNO, Stedin, Smartport, Uniper, BP Refinery Rotterdam and Port of Rotterdam Authority will investigate the technical and economic feasibility of a power-to-gas plant in the Rotterdam port area, as well as the necessary amendments to regulations. The parties above signed a cooperation agreement to this end on 18 January 2017.