U.S. DOJ: First Guilty Plea in RO-RO Price Fixing Scandal
South American Company Agrees to Plead Guilty to Price Fixing on Ocean Shipping Services for Cars and Trucks. First Charges in the Departmentās Antitrust Investigation Involving Ocean Shipping Services; Conspiracy Affected Global Cargo Shipments, Including at Port of Baltimore. Compañía Sud Americana de Vapores S.A. (CSAV), a Chilean corporation, has agreed to plead guilty and to pay an $8.9 million criminal fine for its involvement in a conspiracy to fix pricesā¦
Minimum Wage Increase for the Able Seafarer
Maritime Employer representatives, coordinated by the International Shipping Federation (ISF), met with International Transport Workersā Federation (ITF) counterpartsā¦
U.S. Navy eyes greater presence in Arctic from 2025
The U.S. Navy is mapping out how to expand its presence in the Arctic beginning around 2020, given signs that the region's once permanent ice cover is melting faster than expectedā¦
Rig salvage work off Angola LNG to start in Q2
Salvage work to remove a capsized drilling rig lying in shallow waters off Angola's new liquefied natural gas (LNG) plant is due to start in the second quarter, Italian oil services firm Saipem said.
Wind turbine maker Nordex turns corner in overhaul
Shares rise 4.6 percent to top TecDAX. German wind turbine maker Nordex on Friday said it had swung to an operating profit last year, boosted by stronger demandā¦
OPEC oil output rises in February
Supply rises by 170,000 bpd, led by Iraq, Angola. Saudi Arabia trims output, Libyan supply falls and OPEC output below 30 million bpd target for fifth month. OPEC'sā¦
Petrobras rig evacuated after tilting, now stabilized
An offshore drilling platform, operated for Brazilian state-run oil company Petrobras , was partially evacuated after tilting on Friday, but there was no risk of it sinkingā¦
HK International Airport Nearshore Contract for Fugro
Fugro inform that the Airport Authority of Hong Kong has awarded them a contract to carry out a major nearshore geotechnical and environmental ground investigationā¦
New Shipbuilding Orders Threaten Fragile Sector Recovery
Reuters ā Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, according to a recent survey. Ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into its biggest crisis since the 1930s. In recent months, prospects have brightened as the sector absorbs the tonnage as well more positive signs for world trade.
Shipbuilder OSX Brasil Restructuring Plan Suspended by Court
Reuters ā A Brazilian court has suspended the deadline for shipbuilder OSX Brasil SA to present its restructuring plan under bankruptcy legislation until a new judge is appointed to the caseā¦
Upcoming HII Apprentice School Graduation
Huntington Ingalls Industries informs it will host commencement exercises for The Apprentice School's graduating class of 2013. Danny Hunley, Newport News Shipbuilding's vice president of operations and Apprentice School graduate, will provide the keynote address on Saturday, 29, February 2014. The Apprentice School accepts about 250 apprentices per year. The school offers four- to eight-year, tuition-free apprenticeships in 19 trades and eight optional advanced programs.
MacGregor Acquires Norwegian Offshore Lifting Firm
MacGregor, part of Cargotec, says it has acquired Norwegian privately-owned Deep Water Solutions AS, a company specialising in lifting applications utilising electric multi-drive technology. "Customer requirements for environmentally friendly solutions are increasing in offshore load handling applications, such as subsea cranes, module handling and LARS (launch and recovery) systems and having Deepā¦
Indian Navy Chief Resigns After Submarine Fire
Indian Navy chief Admiral D.K. Joshi resigned from his position, hours after a submarine mishap off Mumbai coast in which seven sailors were injured and two officers went missing, reports Xinhua. The Indian Defense Ministry has accepted the resignation of 59- year-old Admiral Doshi, the first military chief to quit taking moral responsibility of a spate of mishaps involving Indian Navy warships and submarines in the past few months.
Price-Fixing Chilean Shipping Firm Fined US$8.9-Million
Reuters ā Chilean shipping firm Compania Sudamericana de Vapores has agreed to plead guilty to a price-fixing conspiracy and pay an $8.9 million criminal fine to the U.S. government, the U.S.
Huntington Ingalls Industries 2013 Revenues Increased
Huntington Ingalls Industries reports Fourth Quarter & Year 2013 financial results with increased revenues in each period. Segment operating income in the fourth quarter was $169 million, compared to $140 million in the same period last year, mainly driven by improved contract performance. Total operating income for the quarter was $174 million, compared to $106 million in the same period of 2012.
Singapore Offshore Firm Rides Crest of 2013 Financial Wave
Singapore's Swiber Holdings, a construction and support services provider to the offshore oil and gas industry, reported that it has achieved record revenue and net profit for the second consecutive year-running for the full year ended December 31, 2013. Revenue rose 11.2% to hit US$1.1 billion from US$952.2 million for the full year ended December 31, 2012. The Groupās topline was driven by a 75.3%ā¦
Coast Guard Foundation to Honor 8th District at Upcoming Event
The Coast Guard Foundation, a non-profit organization committed to the education and welfare of all Coast Guard members and their families, announced today that its 21st Annual Tribute to the United States Coast Guard Eighth District will take place on Friday, March 14, 2014 in New Orleans, Louisiana. Admiral Robert J. Papp, commandant, U.S. Coast Guard and his wife, Linda Papp, will speak at the event.
Obama US$320-B Multimodal Freight Grant Proposal Welcomed
Welcoming the proposal, the Coalition for Americaās Gateways and Trade Corridors (CAGTC) says it applauds the Administrationās vision for improving the multimodal freight network to support American businesses and national competitiveness in the world marketplace. CAGTC inform that President Obama has unveiled an outline for his Administrationās first-ever surface transportation authorization proposalā¦
Maritime Reporter @ 75: The Daily Cartoon
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.
FMC Grants PVO Reimbursement Decrease
The Federal Maritime Commission (FMC) granted a passenger vessel operator a decrease in the amount of financial responsibility it is required to maintain to reimburse passengers when an operator fails to perform cruises as contracted. The Federal Maritime Commission has granted the request of a passenger vessel operator (PVO) for partial relief from its financial responsibility requirements used to reimburse passengers when a PVO fails to perform cruises as contracted.
