Golden Ocean Sees Dry Bulk Market Upswing
Reuters - Dry bulk shipping firm Golden Ocean reported fourth-quarter earnings broadly in line with expectations on Tuesday and said it expects the market to continueā¦
Issues Linger for Trans-Pacific Trade Deal
Reuters - Ministers in 12-nation Trans-Pacific trade talks said on Tuesday they have made progress trying to finalize a deal during a four-day meeting in Singaporeā¦
Qatar's Nakilat Q4 Profit Falls 13%
Reuters - Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 13 percent drop in fourth-quarter net profit on Tuesday. The company made a fourth-quarter profit of 176.5 million Qatar riyals ($48.5 million), down from 203.3 million riyals a year earlier, according to Reuters calculations based on its financial statements. QNB Financial Services had forecast Nakilat would make a quarterly profit of 201 million riyals.
MOL's Net Profit Halves in Q4
Reuters - Hungarian oil group MOL's net profit halved in the fourth quarter due to a squeeze on gasoline margins as well as big impairment charges related to itsā¦
Maritime Charity Amassing Stories for History Book
A national maritime charity is set to publish a commemorative book in celebration of its 150th anniversary and is calling for people to come forward with their stories and memories.
Quest for More Lethal U.S. Warship Could Raise Cost
Defense Secretary Chuck Hagel's decision to stop building the current class of coastal warships after 32 vessels and focus on ships with more firepower and protection will result in higher costs, U.S. defense officials said on Monday. Hagel said that given the new threats, he had "considerable reservations" about building all 52 coastal warships as planned, which would account for one-sixth of the future 300-ship Navy.
Latest on Proposed Scania Buyout
The Independent Committee of the Scania Board of Directors has begun its work to consider Volkswagen's buyout offer and confirms it has noted that Volkswagen does not foresee any significant changes with regards to Scania and that Scaniaās headquarters and its development centers will remain where they are today. Deutsche Bank and Morgan Stanley have been retained as financial advisors to the Committee. Mannheimer Swartling has been retained as legal advisor and JKL as communication advisor.
Navy Updates Plans for a Changing Arctic
"This updated Navy Arctic Roadmap prepares the U.S. Navy to respond effectively to future contingencies, delineates the Navy's Arctic leadership role within the Defense Department, and articulates the Navy's support to achieve national priorities," writes Chief of Naval Operations (CNO) Adm. Jonathan Greenert in the Roadmap introduction. In the coming decades, as multi-year sea ice in the Arctic Ocean recedes, previously unreachable areas may open for maritime use for a few weeks each year.
DP World's Rio de la Plata Terminal Switches to Navis N4 TOS
Cargo movement technology experts Navis inform that DP Worldās Terminales Rio de la Plata (TRP), the largest container facility in Argentina, successfully went live on the Navis N4 terminal operating system (TOS). A Navis SPARCS and Express customer since 1994, Buenos Aires-based Terminales Rio de la Plata handles containers from deep-sea vessels from Europe, Asia and North America, as well as feeders vessels to both the East and West coasts of South America and barges upriver to Rosario.
U.S. Anti-Piracy Ship Crew Treatment in India 'An Outrage'
The International Organization of Masters, Mates & Pilots (MM&P), says 35 U.S. anti-piracy ship crew members are being treated unfairly, following the arrrest of their ship, 'Seaman Guard Ohio', describing it as 'an outrage' that they are being subjected to inhumane conditions in an Indian prison. MM&P inform that officials are withholding proper medical treatment, bathing facilities and adequate food andā¦
Latest DoD Navy Contracts
General Dynamics Electric Boat Corp. has been awarded a contract modification for NRMD tasks in support of operational nuclear submarines. Secondly, York International has been awarded a contract for shipboard air-conditioning & refrigeration system work. General Dynamics Electric Boat Corp., Groton, Conn. The company is being awarded a $36,137,340 cost-plus-fixed-fee modification to previously awarded contract (N00024-13-C-4311) to provide a Nuclear Regional Maintenance Department (NRMD).
Maersk Drilling Takes Delivery of First of Four Ultra-Deepwater Drillships
Maersk Drilling informs it has taken delivery of its first ultra deepwater drillship, 'Maersk Viking', from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. The new vessel has started its voyage to the US Gulf of Mexico where it will commence a three year contract with ExxonMobil. The owners explain that Maersk Viking is the first in a series of four ultra deepwater drillships to enter Maersk Drillingās fleet.
Scorpio Tankers Cuts Loss in FY 2013
For the year ended December 31, 2013, Scorpio Tankers report a net loss of $3.7 million or $0.03 basic and diluted loss per share, as opposed to a net loss of $26.5 million or $0.64 basic and diluted loss per share on 31, December 2012. On February 21, 2014, the Scorpio Tankers' board of directors declared a quarterly cash dividend of $0.08 per share, payable on March 26, 2014 to all shareholders as of March 11, 2014 (the record date). There are currently 198,791,502 shares outstanding.
Big Growth in Mediterranean Transhipment Business Observed
Virtually all large Mediterranean transhipment hub ports recorded double digit growth in 2013, well above regional and global growth levels, notes the latest edition of Drewry's Container Insight Weekly. Once all full year data is collated, global container port traffic is likely to have grown by around 3.3% whilst that for the regions bordering the Mediterranean Sea will probably have grown by between 3 and 6%.
Rickmers FY 2013 Loss Impacted by Impairment Charge
Container ship owners and operators, Rickmers Trust Management, report a net loss of US$8.0 million in 4Q2013 and a lower net profit of US$23.5 million in FY2013, compared to net profits of US$2.2 million and US$27.6 million in 4Q2012 and FY2012 respectively due to a a US$2.4 million provision for vessel impairment was made for 'Kaethe C. Rickmers'. A goodwill impairment of US$18.4 million was also recognised in 4Q2013, up from US$2.1 million a year ago.
Robert Allan Z-Tech Tugboats for Galveston, Texas, Harbour
Designers, Robert Allan, inform that Leevac Shipyards has completed the construction of the second of their Z-Tech designed 2400 tugs. The latest, 'Zeus', has been delivered to its owners Suderman & Young Towing Company of Houston, Texas following the earlier delivery of her sister 'Chloe K' to her owners: Bay-Houston Towing Co. of Houston, Texas. Both tugs are operated by G&H Towing of Galveston, Texas on behalf of their owners. The Z-Tech Class tugs from Robert Allan Ltd.
Shipowners' Club P&I Offers MLC 2006 Wage Insurance
In response to specific market demand for insurance cover not formerly available, the Shipownersā Club has launched a policy for its high net worth super yacht client base to indemnify them against Seafarers Unpaid Wages Following Abandonment (SUWFA). Although some 80% of the worldās gross tonnage of shipping has been signed up to the Maritime Labour Convention 2006 (MLC), there are still many owners and managers unsure as to the extent and applicability of some of the provisions.
Yacht Brokers & Charter Agents BYS Launch New Website
BYS, a Burger Company, has introduced its new website which includes yacht descriptions, detailed specifications, image galleries, and videos. According to the new web site BYS, located in Fort Lauderdale, Florida, serves yacht brokerage and charter clients worldwide. Absolute professionalism and discretion are assured when working with a BYS associate. A full array of new yacht construction and brokerage vessels are available through BYS and its brokers are astuteā¦
Five Minutes With Tomas Tillberg
Modern cruise ships can cost upwards of a billion and built to last more than 25 years, so the platforms must be built for change, as evolving style & taste, material innovation & maritime regulation dictate. āBuilt to stand the test of timeā is the mantra, so in seeking insight on modern cruise design we sought insights from a designer that also has stood the test of time, Tomas Tillberg of Tillberg Design International. Mr.
MIOX Safe Water Management for Cruise Ships
Safe water management onboard any ship is a challenge, a challenge magnified exponentially onboard the worldās largest cruise ships with thousands of passengers and crew in close quarters. Just last month it again made global headlines as Royal Caribbeanās Explorer of Seas was forced to cut its 10-day cruise short due to an estimated 700 passengers dropping ill with a with a gastrointestinal illness.
