White & Case Publish New Marine Industry Report
Global law firm White & Case LLP announced the availability of a new report, "Restructuring & Beyond: The marine industry's routes to safety." The report focuses on survival strategies for those affected by the industry's downturn as well as emerging opportunities for companies, banks and investors. "Market equilibrium remains out of balance, and risks remain for the maritime sector," said Christopher Frampton, Partner and Global Head of the Asset Finance Practice of White & Case. "We have seen some contraction in the bank market. This, together with continued demand for capital, presents opportunities for alternate sources of finance. Private equity and the export credit agencies may bridge a part of the gap, but with portfolio composition evolving for other investors, we may see a fresh focus on the U.S. capital markets." The report features insight from industry experts including Richard Haines, a ship broker at Howe Robinson; Paul Slater, chairman of First International; Erik Nikolai Stavseth, an analyst at Arctic Securities and Albert Stein, managing director at AlixPartners. The report examines: •Strategic and practical measures companies under threat might take to preserve their future •How lenders and investors can support companies by continuing to deploy capital •New opportunities for investors and new sources of capital
Map Shows Kidnap & Piracy Threats
Global risk and crisis management consultancy NYA International today releases its 2016 Kidnap and Piracy Map, accompanied by the Global Kidnap Review, a special report examining kidnap for ransom over 2015 and identifying themes for 2016. Together, the map and report provide a guide on the threats to people and operations worldwide. Intensified civil conflicts in Africa, entrenched criminality in Latin America and the advance of Islamist militancy in spaces worldwide have
Global Offshore Pipeline Market by Region 1997-2006
source: The World Offshore Pipelines & Umbilicals Report II – Douglas-Westwood Ltd The installation of almost 50,000 km of pipeline is forecast over the next five years in the new second edition of The World Offshore Pipelines and Umbilicals Report 2002-2006, published today by leading offshore analysts Douglas-Westwood and offshore data specialists Infield Systems. According to the report’s lead author, Dominic Harbinson of Douglas-Westwood
Dry Bulk Shippers Fail to Benefit From Trade Growth
The Bedford Report Provides Analyst Research on Genco & Diana Shipping NEW YORK, NY--(Marketwire - March 10, 2011) - The bulk and tanker sectors of the shipping industry have been in the headlines for all the wrong reasons this year. Both sectors have been underperforming as freight rates remain under pressure based on too many available ships and not enough demand to match supply. Compounding the crisis, Chinese demand for raw materials has dropped dramatically as the nation tries to
Kværner ASA Updates Verdal Accident Situation
Kværner ASA: Serious accident at Verdal: internal investigation completed. Kvaerner's internal investigation following from the serious crane accident at the Verdal yard 8 February 2012 has been completed and the main findings have been presented to the Police and the Norwegian Labour Inspection Authority. The investigation report examines the accident in detail, reviews the existing health and safety procedures in place for work at heights
GAO Critical of Navy Flat-top Program
In a new report, the US Government Accountability Office (GAO) states that the Navy faces technical, design, and construction challenges to completing 'Gerald R. Ford' (CVN 78) that have led to significant cost increases and reduced the likelihood that a fully functional ship will be delivered on time. The GAO finds: The Navy has achieved mixed progress to date developing CVN 78's critical technologies, such as a system intended to more effectively launch aircraft from the ship
Cummings: Oversight of Safety on Cruise Ships Will Continue
U.S. Congressman Elijah E. Cummings (D-MD), Chairman of the Subcommittee on Coast Guard and Maritime Transportation, led the Subcommittee in conducting a hearing on crimes against Americans on cruise ships following a request made by U.S. Congresswoman Doris Matsui (D-CA). Witnesses included representatives of the Federal Bureau of Investigation and the Coast Guard, a representative of a victims' rights advocacy group, a former cruise passenger
Report Examines ROV Growth
In a recent report, the energy & marine industry analysts Douglas-Westwood, has revealed that operations of cable controlled work-class remotely operated underwater vehicles (ROVs) is a business worth $600 million worldwide and this is forecast to grow to $725 million by 2008. The firm reported these results in ‘The World AUV & ROV Report,’ a new global business study published. In his keynote address to delegates at the ‘Advances in Technology for Underwater Vehicles’ conference in London
New Report Examines MOL Comfort Casualty
Following the loss of the container vessel MOL Comfort on June 17, 2013, ClassNK established a special Casualty Investigation Team in order to investigate and determine the cause of the casualty. Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) further established a Committee on Large Container Ship Safety to develop measures to ensure the safety of large container vessels on August 29, 2013
Calif. Forum Examines Transport ‘Beyond Traffic’
Maritime Administrator Jaenichen, Vice Mayor Lowenthal Host Town-hall style Forum on Beyond Traffic Framework U.S. Maritime Administrator Paul “Chip” Jaenichen and Long Beach Vice Mayor Suja Lowenthal today hosted the third of 11 nationwide regional forums on the Beyond Traffic draft framework at Long Beach Convention Center. The Beyond Traffic report examines the trends and choices facing America’s transportation infrastructure over the next three decades
ClassNK Publishes Annual Report on Port State Control
ClassNK has released its annual report on Port State Control. The report aims to assist ship operators and management companies in maintaining compliant operations by providing information about ships detained by PSC as well as deficiencies that were found on board from many port states in 2016. PSC inspections ensure that vessels departing the port meet international standards and have proved to be highly effective in eliminating substandard ships that are in operation
OSK-ShipTech Secures Danish Ferry Project
The Ferry Company Læsø wants to examine the need for a new ferry between Læsø and Frederikshavn and puts the project in the hands of OSK-ShipTech A/S. Danish company OSK-ShipTech A/S said it will lead a project examining the potential purchase and construction of a completely new ferry sailing between Læsø and Frederikshavn in Denmark. OSK-ShipTech A/S signed a contract to do the preliminary examinations for The Ferry Company Læsø
No Sign Ship Collision Was Intentional -US Navy Chief
There was no indication that the collision between a U.S. Navy ship and a tanker near Singapore on Monday was intentional, U.S. Navy Chief of Naval Operations Admiral John Richardson told reporters at the Pentagon on Monday. Ten U.S. sailors were missing after a collision between the USS McCain destroyer and the tanker, the second involving a U.S. warship and a merchant ship in Asia in about two months, triggering a fleet-wide probe of operations and training.
American Society of Civil Engineers: Not Just a Tough Grader
Within the U.S. inland waterways industry, any mention of the American Society of Civil Engineers (ASCE) will almost certainly be in reference to the “Infrastructure Report Card” that ASCE prepares and issues every four years, describing the condition and performance of America’s infrastructure in 16 categories: aviation, bridges, dams, drinking water, energy, hazardous waste, inland waterways, levees, ports, public parks, rail, roads, schools, solid waste
Large Rogue Waves More Common than Previously Thought
University of Miami Rosenstiel School of Marine and Atmospheric Science scientist Mark Donelan and his Norwegian Meteorological Institute colleague captured new information about extreme waves, as one of the steepest ever recorded passed by the North Sea Ekofisk platforms in the early morning hours of Nov. 9 2007. Within the first hour of the day, the Andrea wave passed by a four-point square array of ocean sensors designed by the researchers to measure the wavelength, direction
USMMA Resumes Commercial Sea Year
On February 15, we announced that Sea Year training for U.S. Merchant Marine Academy (USMMA) Midshipmen will resume on three commercial carriers – Crowley Maritime Corporation, Maersk Line Limited and American President Line. This followed implementation of comprehensive new requirements for commercial carriers to ensure that the academy’s standards for behavior, leadership and integrity are upheld.
EGCS Ready Notation for MOL Ships
ClassNK issued EGCSR-F (Exhaust Gas Cleaning System Ready Full) notations to nine ships operated by Mitsui O.S.K. Lines, Ltd., meaning that the ship fulfills requirement for SOx scrubber retrofitting. Following discussions on the implementation schedule of MARPOL Annex VI SOX/PM regulations at MEPC70 in October last year, all ships operating outside Emission Control Areas (ECA) will be required to limit sulfur emission levels to under 0.50% from 1 January 2020.
New Training Program on Near-miss Reports
Videotel, a KVH company, has launched a new training program, “Report a Near-Miss, Save a Life”, in association with The Standard Club, a protection and indemnity (P&I) club, which insures ship owners, operators, and charterers for their liabilities to third parties. The training program examines the importance of sharing near-miss reports, so that lessons can be learned and publicized throughout a fleet, to help reduce the chances of similar incidents happening.
Senate Hearing on USMMA Issues Scheduled
The Subcommittee on Transportation, Housing and Urban Development, and Related Agencies of the Senate Committee on Appropriations will hold a hearing on 5 April to examine protecting midshipmen, focusing on preventing sexual assault and sexual harassment at the U.S. Merchant Marine Academy. Senator Susan Collins (R- ME) will chair the meeting. Details of the event can be found HERE Witnesses will include:
Navios Selects Preferred Scrubber Supplier
Navios Selects DuPont as Preferred Scrubber Supplier Navios ShipManagement Inc., a member of Navios Group, has issued a letter of intent endorsing DuPont Clean Technologies as the preferred supplier of exhaust gas cleaning systems (EGCS) for its vessels. The letter of intent also confirms that Navios and DuPont Clean Technologies will carry out a joint feasibility study and techno-economic analysis of marine scrubbing units for retrofitting or new build installation on a variety
Rotterdam Port Anticipates Climate Change
Right now, Rotterdam’s port area is effectively protected against floods. While most of the port area is situated outside the dikes, these port sites are elevated relatively high above sea level and are partly protected by storm surge barriers. Only under particularly extreme weather conditions will a small number of companies be affected by limited flooding. This is one of the conclusions of a recently-completed joint study that focussed on water safety in
Biofouling Keep Out!
Biofouling was a backburner issue until 5 March 2017. On that day the Government of New Zealand ordered the bulk carrier DL MARIGOLD out of NZ waters after the vessel’s hull was determined to be excessively fouled with potentially invasive organisms including barnacles and tube worms. The bulker was not allowed back until it showed that the underwater surfaces had been thoroughly cleaned. This was the first known instance of a vessel expulsion due to biofouling
Denmark Tightene Water Scooter Regulations
Danish Ministry of Industry will launch a set of new initiatives to enhance safety at sea when operating water scooters, jet skis, speed boats and the like. The new initiatives are to prevent accidents at sea by securing, inter alia, that those riding water scooters have the skills needed and are familiar with current regulations. At the same time, the new initiatives are to make it easier to identify water scooters and their owners and to hold somebody
Is Container Shipping on the Mend?
A new report from Drewry’s investment research arm, Drewry Financial Research Services Ltd., examines the financial health of the global container shipping industry. In the report, Container Shipping - A Financial Health Check - Macros and Micros, Drewry analysts have updated their independent assessment of the industry's financial health, identifying lingering areas of concern and even signs of hopes for the sector.
US Warship Stayed on Collision Course despite Warning
A U.S. warship struck by a container vessel in Japanese waters failed to respond to warning signals or take evasive action before a collision that killed seven of its crew, according to a report of the incident by the Philippine cargo ship's captain. Multiple U.S. and Japanese investigations are under way into how the guided missile destroyer USS Fitzgerald and the much larger ACX Crystal container ship collided in clear weather south of Tokyo Bay in the early hours of June 17.