Brunswick Ro/Ro Capacity Up by 50%
Georgia Ports Authority (GPA) Executive Director Griff Lynch said the GPA increased auto processing capacity at Colonel’s Island Terminal by 50 percent over the past 12 months, all of which has been absorbed by processors and manufacturers. The Port of Brunswick now has an annual capacity of 800,000 vehicles. “Since last year, we’ve been implementing an aggressive growth plan, enabling GPA and our auto processing partners to win new customers and capture greater market share,” Lynch said.
BP Chairman to Retire
BP has announced that Carl-Henric Svanberg has informed the company’s board of directors of his intention to retire as chairman. Svanberg will chair the annual general meeting to be held in May 2018 and will remain in position until a successor is in post. Ian Davis, the BP board’s senior independent director, will now lead the process to identify and appoint BP’s next chairman. Mr Svanberg joined the BP board on 1 September 2009 and became chairman on 1 January 2010.
Global Logistics to Reach $12 Trillion by 2025
The global logistics industry is expected to reach $12 trillion in value by 2025, recording a 6 percent CAGR over the period, says a research report. According to Wiseguyreports, 2015 was a difficult year for global logistics companies. However, accelerating Asia Pacific economies and recovering manufacturing in Western Europe are expected to have a positive effect on global logistics, which started to recover in 2016 and is expected to continue solid growth in the next 10 years.
Scorpio Gets Financing for Kamsarmax Vessel in Japan
Scorpio Bulkers Inc announced that it has entered into a financing transaction in respect of one of the Company’s Kamsarmax vessels with unaffiliated third parties in Japan. The cost of the financing is equivalent to an expected fixed interest rate of 4.24% for 10 years. If converted to floating interest rates, based on the expected weighted average life of the transaction, the equivalent margin at current swap rates would be LIBOR + 2.07%.
HMAS Hobart Sets Sail
HMAS Hobart has “slipped her lines” and set sail for the first time since commissioning on 23 September 2017. Her departure from Fleet Base East, Garden Island, Sydney on Wednesday heralded the much anticipated return to sea for the Guided Missile Destroyer (DDG) of the Royal Australian Navy. During her journey to and from Jervis Bay on the New South Wales south coast, HMAS Hobart’s ship’s company will perform a series of exercises to test core mariner skills.
Alpha Bank Securitize Shipping Loans
Greece's Alpha Bank has successfully completed its second financing transaction of $250 million through shipping securitization with Citi, following the inaugural shipping securitization issuance of $500 million in 2014. "Alpha Bank has successfully completed its second financing transaction of USD 250 million through shipping securitisation with Citi, following the inaugural shipping securitisation issuance of USD 500 million in 2014," said a press statement.
Keller Shifts Gears
Satisfaction in overall powertrain reliability often comes down to individual components, starting with the gearbox and gear wheels. To this end C. u. W Keller GmbH & Co.KG, has made investment in its products and processes – $41 million over the last 15 years – to ensure that it remains a strong link in the propulsion chain. Keller’s experience in gear wheels and gearbox that spans more than 100 years, with marine applications added to the line-up 18 years ago.
Containership Receives a Special Welcome
The world’s largest containership received a special greeting when it arrived for the first time at Germany’s sole deepwater port. On October 16, EUROGATE welcomed the 21,413 TEU OOCL Germany at its container terminal in Wilhelmshaven, where employees had arranged containers on the stowage area to write out the ship’s record-setting TEU capacity. “Although we are in the meantime witnessing the world’s largest container vessels at Wilhelmshaven on a weekly basis…
Southampton Marine Services Delivers Svitzer Merlin
U.K. shipbuilder Southampton Marine Services said it has delivered a newly constructed 20.45-meter multipurpose harbor workboat to Svitzer. The new vessel, named Svitzer Merlin, is the forerunner in Southampton Marine Services’ new Bulldog workboats range. A Bulldog 20, the workboat is a repeat Svitzer order for Southampton Marine Services, being similar to the Middlesbrough-based Svitzer Leven. Svitzer Merlin takes her place in the Svitzer fleet being based at Milford Haven…
Update: Texas Barge Explosion Kills One, Fire Extinguished
At least one person was killed and another was missing on Friday after an oil barge being pulled by a tug boat caught fire and exploded in the Gulf of Mexico off Texas, officials said. The barge was carrying some 133,000 barrels of crude oil to a refinery in Corpus Christi when the explosion occurred at 4:30 a.m., they said. The dead person had not yet been identified and the fire was allowed to burn itself out before being extinguished…
Wärtsilä Inks Maintenance Deal with GasLog
Wärtsilä said it has signed an engine maintenance agreement with Monaco-based GasLog LNG Services, covering eight LNG carriers operating on Wärtsilä dual-fuel engines. The agreement, effective as of October 1, 2017, consists of Dynamic Maintenance Planning (DMP), technical support, secured availability of spare parts and specialized technical personnel around the clock as well as constant performance monitoring.
APL Launches New Korea China Straits Service
APL announced the launch of a new Korea China Straits (KCS) service that will serve the key Asian markets of China, Korea, Singapore, Malaysia, Indonesia and the Philippines. The weekly service will link Nansha in South China to the Straits of Singapore and Port Klang as well as Indonesia; offer superior transit between Indonesia and Manila; and call Lianyungang in Jiangsu where few carriers provide access to.
Spotlight on Maritime Security at Mexico Workshop
Mexican port security officials have undergone training on complying with International Maritime Organization (IMO)'s International Ship and Port Facility Security (ISPS Code). Forty participants took part in the workshop in Manzanillo, Mexico (16-20 October), focusing on the practise of self-assessing compliance with regulations under the Code that apply to port facilities. The workshop included theoretical lessons…
Victor Restis Buys Stake in Globus Maritime
Globus Maritime Limited, a dry bulk shipping company, announced that it has signed a share and warrant purchase agreement providing for the issuance, for gross proceeds of $2.5 million in a private placement to a private investor. The Company intends to use the proceeds from the sale of common shares and warrants for general corporate purposes and working capital. "Restis has significant experience in shipping and currently runs a fleet of approximately 40 vessels.
Wren Completes Isle of Man Steam Packet Company Deal
Liverpool marine fabrication firm Wren Industrial has manufactured and installed a collection of new water-tight and fire-rated doors for leading UK ferry operator Isle of Man Steam Packet Company. The welding and fabrication specialist has a long-standing relationship with the famous ferry firm, which is renowned as the oldest continuously operating passenger shipping company in the world - founded in 1830.
Two Missing after Barge Catches Fire in Texas
Two crew members were missing after a barge carrying about 140,000 barrels of crude oil to a refinery caught fire early on Friday in the Aransas Pass Anchorage in Texas…
Rob Nakama: From USCG to Foss Maritime
Just two weeks after accepting the U.S. Coast Guard’s congratulations on a military career spanning almost three decades, Rob Nakama drove from Washington D.C. to Seattle to join Foss Maritime as the company’s Manager of Contingency Planning and Emergency Response. “I’ve been in the military for the majority of my life; the transition has been surreal,” he said. Nakama was born in Hawaii, growing up on the island of Maui as the son of a taro farmer who worked for the Aloha Poi Factory.
How HR Can Make Maritime Organizations Future Proof
Any maritime business relies on its workforce to innovate and adapt, often in tough and changing market conditions. In fact, people are the most important assets in the maritime sector and organizations must invest in bridging the talent gap or risk losing out to competitors, especially as there is a shortage of suitably qualified and experienced seafarers, onshore staff and shipyard workers worldwide.
Legal Limbo: Risk Management in a Modern Marine Economy
Technology helps maritime companies do more with less. But today, technological advances are outstripping legal developments. As a result, many marine-based businesses operate in a legal limbo with many lawyers and insurance professionals confused about what laws will apply to what claims. While sometimes philosophical, the problem of what law will apply becomes stark and very real when a worker is injured.
The Nautical Safety Profile
MARIN is working together with the industry to develop the Nautical Safety Profile for operations and risk management. Liquefied natural gas (LNG) is increasingly being used as an alternative fuel, both at sea and on land, to reduce pollution from transportation. In 2011 the first LNG carrier arrived at the Rotterdam Gate terminal, and last year the terminal was upgraded to facilitate the transfer of LNG to shuttle tankers.