GulfMark Sails Out of Bankruptcy
GulfMark Offshore, Inc. said it has completed its financial restructuring plan and emerged from bankruptcy protection under chapter 11 of the U.S. Bankruptcy Code. The company’s court-approved reorganization plan went into effect November 14, 2017, and converts approximately $429.6 million of outstanding bonds into equity, and raises approximately $125 million of new equity capital. “GulfMark is now positioned as one of the best capitalized companies in the global offshore industry…
Stone Marine, NGC Marine Launch Joint Company
Propeller design and manufacturing company Stone Marine Propulsion has joined forces with NGC Marine of China to form a new supplier of propulsion solutions and marine gearbox equipment. The new U.K.
YANMAR Launches New Training Initiatives
YANMAR America has announced the launch of the YANMAR//ACADEMY and POWER//TRAIN following the recent opening of the EVO//CENTER, YANMAR America’s training and customer experience center headquartered in Acworth, Ga. Both initiatives provide an enhanced training experience focused on YANMAR’s dealerships, employees and customers. The YANMAR//ACADEMY consists of eight schools; six focused on dealer training, one on employee training and one dedicated to customer training.
New Coating Dispensing System
Sulzer Mixpac USA, Inc. has launched MIXPAC MixCoat Manual, a new member of its cartridge-based two-component dispensing system line. The lightweight MixCoat Manual protective coating dispensing system features a unique brush assembly on a manual dispenser, which increases stripe coating productivity and speed, the manufacturer said. The system is suited for repairs and rope work on offshore oil and gas, petrochemical, marine, and bridge repair applications.
US Oil Rig Count Steady this Week -Baker Hughes
U.S. energy companies kept the oil rig count unchanged this week, General Electric Co's Baker Hughes energy services firm said on Friday, as some analysts expect a gradual decline in overall rigs in the fourth quarter and in 2018. The rig count, an early indicator of future output, held at 738 in the week to Nov. 17, still much higher than 471 rigs a year ago as energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash.
Retlif: Ensuring the Future Today
Ensuring the future today . . . by supporting the U.S. Ensuring the future is an essential part of what a testing laboratory is all about. In fact, that concept underlies every EMC test and all the torturous Environmental Simulation testing that products undergo en route to compliance. Retlif Testing Laboratories, a leading independent EMC and Environmental Simulation testing organization founded in 1978…
Gazprom, Mitsubishi Corp. in Talks on LNG Cooperation
Gazprom said on Friday it had held talks with Japan's Mitsubishi Corp. on Friday about cooperation at the Russian gas giant's Sakhalin-2 liquefied natural gas (LNG) plant.
Sovcomflot Reports Loss for 9M 2017
PAO Sovcomflot (SCF Group) reported a $6.8 million loss for the first nine months of 2017, citing the adverse impacts of low spot market freight rates in the conventional tanker sectors. “This year has proven to be a very challenging period for the tanker industry and the situation now faced by many conventional tanker ship owners is especially severe,” said Sergey Frank, President and CEO of PAO Sovcomflot.
DNV GL: Standardization Can Aid Shipping's Digital Transformation
Classification society DNV GL has released a new position paper setting out the importance of standardization in enabling the growth of digital applications in the maritime industry. Drawing from the experiences gained from digital pilot projects focused on ship sensor data, the paper examines how standardization can enable the effective collection, storage, exchange, analysis and use of data, while contributing to improved data quality and sensor reliability.
Liebherr: New Manipulator for Offshore Cranes
The Liebherr offshore crane division has produced and delivered a new manipulator tool with a safety working load of 100 tonnes. Using this equipment is designed to extend the task range of the Liebherr offshore cranes. Liebherr designed a manipulator for its ram luffing knuckle boom crane series to ensure safe, efficient and reliable operation. The Manipulator 100 is able to be used with either hook or crossbar function.
Deal for Floating LNG Powerplant in China
As the proliferation of LNG use spreads rapidly in the maritime and energy sectors, word from China is that Wison Offshore & Marine has signed an MoU with Shanghai Electric Power Generation Group…
Maersk Names New North American President
Veteran Maersk Leader, Omar Shamsie, becomes President of Maersk Line in North America. Maersk Line, the world’s largest container shipping company, announces the appointment of Omar Shamsie as the new president of Maersk Line in North America effective December 1st, 2017. His most recent position was president of Maersk Line Latin America & the Caribbean and before that president of Maersk Line Canada. Mr.
ABS Raises Cyber Awareness to Marine Insurance Industry
ABS Chairman, President and CEO calls upon insurance industry and class to work closer together in addressing the next-generation safety system. Christopher J. Wiernicki, Chairman, President and CEO of ABS, addressed the American Institute of Marine Underwriters (AIMU) today, describing the future of maritime safety and risk mitigation as it relates to cyber safety as well as outlining how the classification…
Andreas Nordseth is New Chairman of EMSA’s Administrative Board
Director General of the Danish Maritime Authority (DMA), Andreas Nordseth, has just been elected Chairman of the Administrative Board of the European Maritime Safety Agency (EMSA). "EMSA provides a very important contribution to maritime safety and environmental protection in Europe. Besides ensuring uniform implementation of legislation across Europe, EMSA puts great effort into implementing new technologies and digitalising shipping- which is also of importance to Blue Denmark.
INS Sarvekshak in Joint Hydrographic Survey with Tanzanian Navy
In an initiative to bolster bilateral relations with friendly foreign countries and navies in the Indian ocean region, INS Sarvekshak, a hydrographic survey ship of Southern Naval Command, arrived at Dar-es-Salaam Tanzania on 15 November 2017 for undertaking joint Hydrographic Survey along with the Tanzanian Navy. The joint survey will be conducted with the Naval personnel of Tanzania who have been trained in India in National Institute of Hydrography, Goa.
Newcastle’s Operations Complete
HMAS Newcastle has rounded out her busy six-month deployment to the Middle East, completing some ‘firsts’ and ‘lasts’ for Australian Navy ships in the region. During her demanding deployment, she patrolled about 25,500 nautical miles or five times the distance around Australia. She conducted a range of Combined Maritime Forces operations, including an attachment in support of the USS Nimitz Carrier Strike Group, and trialled emerging naval capabilities.
ESPO Supports CO2 Emissions Agreement
Last week, the European Parliament and the Council reached an agreement with regard to the CO2 emissions from shipping and agreed to align any EU action with the IMO timeline. This compromise is a part of the first reading agreement on the review of the EU Emission Trading Scheme (ETS) Directive. The agreed text wants the IMO to introduce an ambitious emission reduction target and accompanying measures by 2023.
APM Terminals Liberia Aids Local Health Outreach
APM Terminals Liberia participated in a local medical outreach program organized by First Responders Liberia, Inc., as part of a 10-day program to provide access for an estimated 4,000 Liberians. APM Terminals Liberia is providing logistical support to the medical team of 30 professionals from the USA who are volunteering their services. APM Terminals Liberia Managing Director George Adjei said, “We…
Diana Shipping Time Charter for Naias With Phaethon
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Phaethon International Company AG, for one of its Panamax dry bulk vessels, the m/v Naias. The gross charter rate is US$10,000 per day, minus a 5% commission paid to third parties, for a period of about 15 months to maximum 18 months. The charter is expected to commence on November 24, 2017.
Crude Tanker Shipping Market to Get Hurt in 2018
Crude tanker freight rates are expected to decline further in 2018 following a sharp decline in 2017, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry. Although tonnage supply growth in the crude tanker market is expected to be low next year after surging in 2017, this will not be enough to push tonnage utilisation rates higher as demand growth is expected to be sluggish.