Concordia, Damen Partner to Build Inland Vessels
Concordia Group and Damen Shipyards Group have signed a joint venture agreement to cooperate in the construction and trade of inland waterway vessels. The joint venture will operate under the name Concordia Damen Shipbuilding. Concordia has been active in the Dutch inland waterways business since 2001 and also internationally over the past decade. Concordia’s corporate identity will remain within the new joint venture.
Perez Joins Hepburn and Sons
Hepburn and Sons has hired Rear Admiral Sam Perez as Chief, Advisory Services. Rear Admiral, a graduate of the U.S. Naval Academy, earned his Masters of Art degree…
Gold Rush: A $194B Gold Salvage Operation
During World War I and World War II there were an estimated 7,500 merchant ships were sunk, 700 of which were carrying shipments of gold under U.K. Government direction, leaving an estimatd $194 billion in gold lying underwater. Britannia’s Gold Ltd. was created finance the recovery of targeted cargoes and return them to the UK for the benefit of the government, investors and merchant marine charities…
KNOT Offshore Acquires Brasil Knutsen
KNOT Offshore Partners LP announced that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has acquired all of the ownership interests in KNOT Shuttle Tankers 32 AS, the company that owns and operates the shuttle tanker Brasil Knutsen, from Knutsen NYK Offshore Tankers AS. The acquisition is for an aggregate purchase price of $96.0 million, less $59.0 million of outstanding indebtedness under the secured credit facility related to the vessel…
Rosneft, PDVSA Sign New Oil and Gas Agreements
President of the Republic, Nicolás Maduro, held a meeting with CEO of Rosneft, Igor Sechin, to bolster the joint work between Venezuela and Russia and sign new agreements on gas exploration and exploitation. People’s Minister of Petroleum and President of Petróleos de Venezuela, S.A., Manuel Quevedo, along with PDVSA Executive Vice President and Vice President of Trade and Supply, Ysmel Serrano; People’s Minister of Finance…
CMA CGM Launches Serenity
French shipping line CMA CGM Group has launched "SERENITY by CMA CGM", an innovative offering to deal with unforeseen events during freight transport. This new offering is part of CMA CGM’s "Customer Centricity" strategy, which puts customers at the center of the Group’s development. On the occasion of the launch of this new innovative offer, Elie Zeenny, Vice President in charge of Development Projects…
Sete Brasil Arbitration Favors Petrobras
Petróleo Brasileiro SA informs that an arbitration award favorable to the company has rejected a request made by an investor of Sete Brasil Participações SA - in judicial reorganization. "Petrobras, pursuant to CVM Instruction 358/2002, informs about an arbitration award, favorable to the company, which rejected a request made by an investor of Sete Brasil Participações SA, in judicial reorganization…
Algoma Adds Algoma Innovator
Algoma Central Corporation, a leading provider of marine transportation services, today announced that it has taken ownership of the Algoma Innovator from the Uljanik d.d. shipyard in Croatia. The vessel is part of the Company’s Equinox 650’ class of self-unloading dry-bulk lake freighters and is the first new forward mounted boom ship to be built in 45 years. The vessel has been engineered to be a leader in the river class business…
SSY Acquires Bidsted & Co
British-based ship broker Simpson Spence Young (SSY) has acquired Danish dry bulk broker Bidsted & Co. Bidsted & Co, which was founded in 1940, is one of the last few remaining independent shipbrokers in Copenhagen. Bidsted’s chartering and S&P expertise focuses on serving Danish and Far Eastern dry cargo charterers, operators and shipowners.
DOF Sells Skandi Marstein
Norwegian supply shipping company DOF sold and delivered the 1996 built platform supply vessel (PSV) "Skandi Marstein" to a new owner. The sale will not have any significant liquidity impact or impact on the accounts. The vessel has been in lay up since late autumn 2017. The sale is in line with DOF Group's strategy to divest in the oldest part of the fleet. Last month, Skandi Niteroi, a Brazilian…
SC Ports Handles Container Volume Growth
South Carolina Ports Authority’s 2018 fiscal year container volume through November grew 2.5 percent compared to last year, with 886,414 twenty-foot equivalent container units (TEUs) handled by the Port of Charleston since July. The Port moved 163,592 TEUs during the month of November, with a balanced mix of import and export cargo. As measured in pier container volume, or the total number of boxes handled, the Port moved 92,329 containers in November.
NIMASA for Blue Economy Framework in Africa
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stated that in order to harness the opportunities derivable from the Blue Economy in Africa there is a need for a proper framework and structure which will enhance the coordination of the sector. The NIMASA DG who stated this during a paper presentation to the Management of the Nigerian Shippers’ Council (NSC) in Lagos titled…
Miriam Maes New Chairman of Rotterdam Port
Miriam Maes has been appointed Chair of the Supervisory Board of the Port of Rotterdam Authority, in accordance with a decision made by the supervisory directors. Maes has served on the Supervisory Board since 1 January 2016. She will be succeeding Rutger van Slobbe, who joined the Supervisory Board in 2006 and has served as its Chair since May 2011. Van Slobbe’s third term will end on 1 January 2018.
SM Line Selects Intellian VSAT Antennas for its Fleet
The provider of maritime satellite antenna systems Intellianhas announced that its v100 maritime VSAT antenna has been chosen by SM Lines to power its ships’ data and communications, and enable its IoT (Internet of Things) freight monitoring system. Internet-enabled physical objects that can process, receive or store information are enabling providers who can illuminate the supply chain’s blind spots to improve productivity…
Clipper Fleet, Dania Ship Announce Partnership
Dania Ship Management has announced plans to extend ship management capabilities to include dry cargo in a partnership agreement with Clipper Fleet Management, part of the Clipper Group. The partnership, which strengthens the commitment by V.Group, Nordic Tankers and Clipper Group to create a compelling platform for Copenhagen based ship management solutions, will see the transfer of 28 shore-based employees and around 1,000 seafarers to Dania Ship Management.
Skuld Bottom-line Up 68.7%
Marine insurer Skuld ended the first nine months of the 2017/18 reporting year (as at 20 November) with a positive bottom-line result of USD 27 million (up 68.7%, from USD 16 million year-on-year) with the contingency reserve standing at a record high of USD 421 million (up 15.6%, from USD 364 million year-on-year). Ståle Hansen, Skuld president and CEO, said: "The first nine months have been challenging for some of our members who have experienced major losses.
S&P Revises Hapag-Lloyd’s Rating Outlook to Stable
Corporate Credit Rating agency Standard & Poor's has affirmed at B+. The rating agency acknowledges debt prepayments and cost synergies and expects adequate liquidity in 2018. Rating agency Standard & Poor’s affirmed Hapag-Lloyd’s B+ rating and revised the outlook from negative to stable. Hapag-Lloyd’s debt prepayments and cost synergies after the integration of UASC combined with improved shipping…
MacGregor to Split Smart Ocean Technology Division
MacGregor, part of Cargotec, said it will reorganize its offshore and merchant shipping operations as part of a plan aiming to achieve €13 million in annual cost savings. Under the plan, MacGregor’s Smart Ocean Technology division will be divided into two new divisions: Cargo Handling and Advanced Offshore Solutions. The statutory cooperation negotiations have now been finalized, resulting in restructuring of operations and reducing approximately 170 full-time equivalents globally.
DNV GL: First Class Guideline for Additive Manufacturing
DNV GL has published the first classification guideline for the use of additive manufacturing (AM) in the maritime and oil amid gas industries. The guideline is designed to help manufacturers and sub-suppliers of materials, parts and components, service suppliers and end users adopting AM technologies, by ensuring that the parts or components created by an AM process and the materials from which they are created have the same level of quality assurance as traditionally manufactured products.
Cruise Sector on Track for Growth in 2018 -CLIA
The cruise industry is expected to stay on course for further growth in 2018, according to the latest State of the Cruise Industry Outlook report from trade association Cruise Lines International Association (CLIA). “It is without question that the cruise industry continues on a growth trajectory, gaining in consumer interest and creating a positive impact on the global economy,” said Cindy D’Aoust, president and CEO, CLIA.