Marine link
 

MARITIME INVESTMENTS

Dubai Maritime City Authority Launches UAE-German Maritime Majlis

Image.jpg

Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of the maritime sector in Dubai, has announced the establishment of the UAE-German Maritime Majlis in cooperation with the German Emirati Joint Council for Industry & Commerce (AHK), during a special Business Dinner hosted by DMCA in Dubai under the patronage and in the presence of His Excellency Dr. Abdulla Belhaif Al Nuaimi, Minister of Public Works & Chairman of the National Transport Authority. The dinner gathering was attended by H.E. Ahmed Butti Ahmed, Executive Chairman of Dubai Maritime City Authority, Dr. Peter Goepfrich, CEO of AHK, Amer Ali, Executive Director, Dubai Maritime City Authority, in addition to other senior officials from AHK and DMCA. Ahmed Butti Ahmed said, “The UAE-German Maritime Majlis reflects the importance given by the DMCA in strengthening its international partnerships in order to achieve its strategic objectives aimed at establishing Dubai as a global maritime hub. We thank the AHK for its full support for this undertaking and assure our friends in Germany that Dubai is keen to protect and prosper their maritime interests. We look forward to addressing and resolving our mutual concerns via this Majlis.” The new Majlis is of great strategic importance as it serves as an actionable platform for the UAE and Germany to exchange best practices and experiences and address mutually important


Dry-Bulk Shipping: Hitting the Bottom

Photo: China COSCO Bulk Shipping (Group) Co

 Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei.   The global commodities bust has rocked the dry-bulk shipping industry, with a wave of bankruptcies washing across the sector and major players forced to restructure, divest or scrap assets.   Many in the industry had hoped it would start to recover this year


UK Seeks Maritime Dominance of Yore

S tidal turbine being transported to EMEC test site Image Rolls Royce WEB.jpg

“Britannia rules the waves” paid a glowing tribute to the maritime past of the United Kingdom.  Over the past three centuries as the sun began to set on the British power, resilient U.K. with its pioneering characteristics began its voyage of transformation to become a world-class maritime services center, with one of the largest clusters of marine insurance, ship finance, law, classification societies, ship broking, education and consultancy organizations.


India Bags USD 6.22 bln Investment in Ports and Water Transport Sector

Indian Shipping Minister Nitin Gadkari. Photo: Official FB Page

 Foreign Direct Investment upto 100% under automatic route is already permitted in the Port Sector. This has resulted in several Public Private Partnership (PPP) projects coming up in the Major Ports.    At present, a total of 33 PPP Projects with an investment of INR 17817.96 crore (USD 2.8 bln) are operational and 20 more PPP projects with an investment of Rs. 22362.67 cr (USD 3.42 bln) are under implementation. In total it comes to USD 6.22 bln.  


Indian Maritime Development Can Create 10 Million Jobs

Nitin Gadkari. Photo: The Ministry of Shipping

 Indian minister for shipping Nitin Gadkari has said port and shipping sector has potential to create nearly 4 million direct jobs and 6 million indirect employment opportunities over the next 5 years.   Gadkari said "all the developed countries have a vibrant port sector, but unfortunately, our maritime sector remained neglected over the years, despite having immense potential."   Recalling Prime Minister Mr


Lehman Acquires IMECO

J.F. Lehman & Company investment affiliates acquire AMECO, provider of electro-mechanical solutions to the defense, aerospace and maritime sectors. IMECO, based in Iron Mountain, MI, is a leading independent domestic provider of turnkey marine electro-mechanical solutions for U.S Government and commercial customers.  The Company's integrated maritime solutions include the design, engineering, planning, procurement and installation of HVAC, cargo handling, electric steering


Mubarak to Build New Shipbuilding Facility in Dubai

Mubarak Shipyard

Dubai Maritime City LLC (DMC), the world-class mixed-use maritime cluster, announced the signing of long term partnership agreement with Mubarak Marine LLC. The agreement is for the development of an industrial complex project for maritime services, shipbuilding and repair worth AED 130 million.   This complex will enable Mubarak Marine to establish their headquarters as well as a major marine workshop and maintenance facility


SIU Honors Thomas B. Crowley Sr.

Crowley’s current Chairman and CEO Tom Crowley Jr. – the son of Crowley Sr. – addresses the crowd at the Seafarers International Union dedication ceremony that named a new building in his father’s memory. (Photo: Crowley)

SIU Piney Point building dedicated in honor of the late Thomas B. Crowley Sr.   The Seafarers International Union (SIU) recently honored the late Thomas Crowley Sr. during a dedication ceremony that named a new administration building in his memory. The new Thomas Crowley Sr. Center for Maritime Services, located at the Paul Hall Center for Maritime Training and Education in Piney Point, Md., commemorates the legacy of Crowley, who owned and operated Crowley Maritime Corp


New Stainless Steel Chemical Tanker Platform

Principal Maritime Management LLC of Southport, Connecticut, a shipping company owned by affiliates of Apollo Global Management LLC, has formed a new platform in the stainless steel chemical shipping sector. Additionally, Princimar Chemical Carriers has acquired its initial three stainless steel chemical tankers, all of which were purchased from existing owners and are currently in service.   Princimar Chemical Carriers is focused primarily on acquiring stainless steel chemical


Senators Murray, Cantwell Introduce American Port Legislation

Senator Patty Murray (WA)

-    Senate bill designed level the playing field for American ports competing for cargo, boost investments in port infrastructure and maintenance -    Legislation replaces the Harbor Maintenance Tax U.S. Senators Patty Murray and Maria Cantwell introduced today The Maritime Goods Movement Act for the 21st Century, new legislation that would support the American trade economy and significantly strengthen American ports


Cox Takes over as Matson Board Chairman

Matthew Cox (Photo: Matson)

Matson, Inc. president and chief executive officer Matthew J. Cox will succeed retiring chairman of the board Walter A. Dods, the company announced today.   The appointment becomes effective at the end of the company's annual shareholders’ meeting today


Wilhelmsen Acquires Drew Marine Technical Solutions

Thomas Wilhelmsen (Photo: Wilhelmsen)

The Wilhelmsen group has signed an agreement to acquire the technical solutions business from Drew Marine.   “This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division,” said Wilhelmsen group CEO, Thomas Wilhelmsen.


MPA Honors Patrick Phoon

Patrick Phoon, Deputy Managing Director, Evergreen Shipping Agency (Singapore) Pte Ltd receiving the International Maritime Centre (Individual) Award from Mrs Josephine Teo. Photo: Maritime and Port Authority of Singapore

 Ocean transportation firm, “K” Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively.  


Kartsonas Joins Seanergy Board

(Photo: Seanergy Maritime Holdings Corp.)

Dry bulk vessels owner and operator Seanergy Maritime Holdings Corp. has appointed Ioannis “John” Kartsonas as a member of its board of directors, effective May 4, 2017.  Kartsonas has more than 18 years of experience in finance and commodities trading


Private Equity Boost for Hyundai Samho

South Korea’s Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), said it has attracted 300 billion ($264 million) won investment via pre-IPO.   Under the agreement signed with Korean private equity firm IMM Private Equity


Damen Celebrates 90 Years

(Photo: Damen)

With nine decades of operations in the shipbuilding industry under its belt, Damen has grown from small beginnings in the 1920s into a renowned maritime service provider that employs 9,000 people.   The expansion of Dutch rooted Damen has been global


European Banks Back Green Shipping Deal

EIB Group’s headquarters in Luxembourg. Photo: European Investment Bank

The European Investment Bank and Dutch bank ABN Amro will sign an agreement to support investments for greening the European shipping fleet.    This framework is the first with a financial institution in the Netherlands and is supported by the Connecting Europe Facility and was made


Denmark Aims to be Global Maritime Power Hub

Photo: Danish Maritime Authority

 The Danish Government receives recommendations from the Maritime Strategy Team on how to maintain the Danish stronghold as a maritime nation towards 2025.   The Maritime Strategy Team, headed by Chairman Jesper Lok, presents its recommendations to the Danish government


Rickmers Sells Entire Containership Fleet to Navios

CMA CGM Azure (Photo: Rickmers Maritime)

Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has reached an agreement to acquire Rickmers Maritime’s entire containership fleet. The deal, worth about $113 million, will see Navios Partners acquire 14 container vessels from Rickmers Maritime


US Shipyards: Building for America, Jobs for Americans

In August 2015 General Dynamics NASSCO launched Perla del Caribe, the second ship in a series of natural gas powered containerships for TOTE (Photo: General Dynamics NASSCO)

The shipbuilding and ship repairing industry has always been a core strength of our nation. It has enabled the United States to protect and project its prosperity, power and influence internationally. A book in my office signed by shipbuilder William Webb illustrates the point. Mr


MPC Rolls Out New Box Ship Investment Firm

Photo: MPC Capital AG

 MPC Capital AG, an international asset and investment manager, has initiated an investment company with a focus on small-size container ships between 1,000 and 3,000 TEU.    The newly formed 'MPC Container Ships AS' raised USD 100 million in equity in a private placement towards


Rickmers Maritime is Latest Singapore Casualty

File Image: CREDIT Rickmers

Company struggled with debt in wake of shipping downturn. Debt includes over $270 mln in secured loans.   Rickmers Maritime, a Singapore-listed trust that operates container ships, said it would be wound up as it has been unable to reach an agreement with its lenders to restructure


DNV GL Advisor for 3 New UK Wind Farms

Photo: DNV GL

 DNV GL, the world’s largest resource of independent energy experts and certification body, has advised renowned lenders, including Santander, on their GBP 210 million project finance investment for the construction of three new onshore wind farms by Banks Renewables


DP World, Egypt on Expansion of Sokhna Port

Photo: DP World Sokhna

 DP World and Egypt's General Authority for Investment and Free Zones (GAFI) have is planning to increase the capacity of Egypt’s Sokhna port located south of Suez Canal, off the Red Sea coast, Egypt’s official State Information Service reported.  


Lloyd’s Register Invests in Hanseaticsoft

Nial McCollum (Photo: Lloyd’s Register)

Lloyd’s Register invests in ship management software provider Hanseaticsoft in move to build a marine and offshore Industry 4.0   Lloyd’s Register (LR) said it has made a significant investment in Hamburg-based ship management software provider Hanseaticsoft.  






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright