UK Chamber Stand on Seafarers Minimum Wage
The Government's newly issued 'Guide to the application of the Equality Act 2010 and National Minimum Wage for seafarers' does not make any change to legal entitlement for those working in UK waters, the UK Chamber of Shipping advises. "The guide does not amend the law and there has been no change in the entitlement of any seafarer in respect of the National Minimum Wage or the Equality Act. It is hoped that the clarification of the current position provided by the guide will be of use to companies and seafarers…
G E Shipping Sells Supramax
India’s largest private sector shipping company Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt.
Wilhelmsen Relocates to Singapore
Wilhelmsen Ship Management (WSM) will be relocating its global headquarters from Kuala Lumpur, Malaysia, to Singapore within the first quarter of 2018. The relocation decision is part of WSM’s strategic initiatives to be nearer to current clients and also future market. Singapore is an established maritime hub, and a driver of digital innovation that will play a significant part in the company’s ongoing transformation. At the moment, only a few selected key personnel in the management team will be relocated.
Victaulic to Add Manufacturing Space in Pennsylvania
Victaulic, a manufacturer of mechanical pipe joining solutions, has unveiled a plan to build an additional state-of-the-art manufacturing center in Lehigh Valley, Pennsylvania. The 400,000 square foot facility is the result of increased domestic demand for the company’s products. The facility is expected to break ground later this year and be fully operational in 2019. “This new facility will play an important role in meeting increased customer demand, while also producing the highest quality products in the industry -- something our customers have come to expect from us since our first innovation nearly 100 years ago,” said John F. Malloy, CEO of Victaulic.
Coast Guard Cutter Elm Heads to Baltimore for Overhaul
The 20-year-old U.S. Coast Guard Cutter Elm is scheduled to make its way to the Coast Guard Yard in Baltimore this month for a planned major dry dock overhaul. The cutter’s departure from Atlantic Beach, N.C. will mark its last from its current homeport. After the overhaul work is completed, the Elm will report to a new homeport in Astoria, Oregon. Coast Guard Cutter Maple, which is presently undergoing a midlife overhaul of its own, will replace the Elm in Atlantic Beach this April.
Gulf Navigation Refinances Two Carriers
Gulf Navigation Holding PJSC has announced refinancing 'Gulf Mishref' and 'Gulf Mirdif' petrochemical carriers in less than a month after increasing its capital to AED 1 billion through an Initial Public Offering (IPO). The move underlines the increasing demand for the company’s shipping services, which requires increasing its fleet capacity to meet the demand for its services in the region. Refinancing the two carriers, Gulf Mishref and Gulf Mirdif, is an important addition to the company's petrochemical transportation capabilities.
Fugro Models Complex Sea Currents
3D sea current modelling is an important step forward in extending the boundaries of safety and efficiency in subsea operations. Fugro Subsea Services Limited is a manufacturer and operator of ROVs and provider of subsea engineering, construction support and inspection, maintenance and repair services. Its Robotic Technologies business line has announced the introduction of three-dimensional sea current profiles to its DeepWorks family of subsea simulators. Users can now model currents as they vary with depth and location…
MMS Study of Loop Current in Eastern GOM
A study released by the Minerals Management Service examines the circulation in the Eastern Gulf of Mexico (GOM) and sheds new light on the behavior of the Loop Current (LC) and Loop Current Eddies (LCEs), the relation between the upper- and lower-layer currents, and the variability of water mass characteristics in deepwater. When the LC and the LCE are present in the Gulf near oil and gas activities, operators may have to curtail or amend their operations due to the strength of the current or eddy. “The observations from this study will help MMS and other scientists better understand the Loop Current and improve our forecasting of its behavior in the Gulf of Mexico,” said Dr. Alexis Lugo-Fernandez, the MMS physical oceanographer responsible for the study.
Bibby Offshore Recapitalization Completed
Subsea services provider Bibby Offshore Holdings Limited said it has completed the recapitalization of its balance sheet announced on December 5, 2017. The agreement to recapitalize the balance sheet was approved January 10 by 98.7 percent of noteholders of the £175 million (approximately $243 million) 7.5 percent senior secured notes, and makes noteholders the new owners of the group. “The completion of the recapitalization will be transformational for Bibby Offshore and is a major milestone for our business,” said Howard Woodcock, chief executive of Bibby Offshore.
17 Keppel Employees Pay for Petrobras Bribery Case
Keppel Corp's rig-building unit has taken disciplinary action against 17 current and former employees as part of its Brazil bribery case, a U.S. court document showed, including $8.9 million of financial sanctions, demotions and departures. The measures were revealed after the Singapore-based company agreed to pay $422 million to settle charges it bribed Brazilian officials, including some at state-run oil company Petrobras. Singapore authorities are investigating individuals involved. In the document seen by Reuters, U.S.
Charting the Shift of Oceanic Boundary Currents
Global warming results in fundamental changes to important ocean currents. As scientists from the Alfred-Wegener-Institute show in a new study, wind-driven subtropical boundary currents in the northern and southern hemisphere are not only going to increase in strength by the end of this century. The Kuroshio Current, the Agulhas Current and other oceanic currents are shifting their paths towards the pole and thus carry higher temperatures and thus the risk of storms to temperate latitudes. For this study, researchers evaluated a wealth of independent observational data and climate simulations.
NOAA Offers a New Way to See Currents
A new NOAA National Ocean Service website will provide mariners near real-time coastal ocean surface current observations and tidal current predictions in coastal waters using high frequency (HF) radar, making marine navigation safer for mariners and commercial shippers. The web-based observations are now available for the Chesapeake and San Francisco Bays in areas vital for marine navigation, with additional locations to follow. The product was made possible by NOAA’s Center for Operational Oceanographic Products and Services (CO-OPS) using data from the NOAA-led U.S.
Loop Current Eddy Halts Work at GoM Projects
The most recent Loop Current eddy to halt operations in the Gulf of Mexico with 4.0+ knot currents shows no sign of letting up any time soon. In support of multiple projects, Horizon Marine has mobilized three of its ocean current monitoring systems to provide fine-scale monitoring of Eddy Hadal*, the latest eddy to shed from the Loop. This large, vigorous oceanographic feature has impacted operators in Mississippi Canyon, Green Canyon, and Walker Ridge since June. Over the years, the Loop Current and associated eddies have cost the offshore industry millions of dollars with operators reporting downtime as 'Waiting on Currents'. The Fast Automated Survey Technology (FAST) Eddy survey systems…
Navy Repair Contracts Awarded
BAE Systems San Diego Ship Repair, San Diego, California (N00024-16-D-4419); Continental Maritime of San Diego, San Diego, California (N00024-16-D-4420); and General Dynamics, National Steel and Shipbuilding Co., San Diego, California (N00024-16-D-4421), are being awarded firm-fixed price modifications to previously awarded indefinite-delivery/indefinite-quantity, multiple-award contracts to exercise option period two for the accomplishment of complex emergent and continuous maintenance and Chief of Naval Operations availabilities on amphibious ships (LPD, LSD, LHA and LHD) homeported in San Diego, California. The exercising of these options ensures continued facilities and human resources capable of completing complex emergent and continuous maintenance…
Vigor Wins $19.6m Navy Ship Repair Contract
Vigor Marine LLC, Portland, Oregon, is being awarded a $19,629,518 firm-fixed-price contract to prepare for and accomplish repair and alteration requirements for USS Kidd (DDG 100) Chief of Naval Operations scheduled, selected restricted availability (SRA) in support of the DDG-51-class destroyer ship repair program. For U.S. Naval Surface Combatants – typical repair and maintenance work to be performed in SRA includes modernization ship alterations; blasting, painting and surface preparation for complete or touch-up preservation, freeboard, struts, rudders, running gear, ground tackle, and sea-chest; hull, mechanical and electrical; various interior tanks. Work will be performed in Everett, Washington, and is expected to be completed by September, 2018.
New CEO, Co-CEO to Lead MHI Vestas Offshore Wind
Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…
Global Ship Lease Extends TC with CMA CGM
Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of its charter with CMA CGM for the GSL Tianjin, a 2005-built, 8,063 TEU containership. The vessel will be chartered for a period of eight to twelve months (at the charterer's option) at a fixed rate of $11,900 per day, commencing in direct continuation from its current charter on January 26, 2018. Ian Webber, Chief Executive Officer of Global Ship Lease, commented, "We are pleased to have secured this extension with CMA CGM for the continued employment of the GSL Tianjin.
Bahri Profits Fall
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil shipper for Saudi Aramco, made a net profit of 327.8 million riyals ($87.4 million) for the three months to Dec. 31. That compares with 566.4 million riyals in the fourth quarter of 2015. For the year ending December 31, 2016, Bahri has reported a net profit of SR1.76 billion ($469.3 million). The company registered net revenue of SR6.78 billion ($1.8 billion), and earnings per share (EPS) of SR4.48 for the year, it said in a statement. -Lower spot market rates in general and specifically in Oil transportation.
CG Urges Caution as Hurricane Bill Approaches
With Hurricane Bill expected to pass along the Atlantic coast this weekend, the Coast Guard is stressing the importance of safety for boaters and swimmers during the hurricane season. Hurricanes can create dangers in the water, such as rip currents and large waves. Rip currents and undertows can drag swimmers away from their boat or the beach and lead to death by drowning when they attempt to fight the current and become exhausted. According to the United States Lifesaving Association, rip currents cause approximately 100 deaths annually in the United States - more than all other natural hazards except heat and floods. More than 80 percent of rescues by beach lifeguards are due to rip currents, totaling 18,000 lifeguard rescues a year.
Tanker Rates: How High Is Too High?
Current oil tanker rate highs are an aberration caused by a spike in oil demand and will fall sharply, shipping analysts said. In a report, Drewry Shipping Consultants said the rise in rates in 2000 represents an aberration in the current market cycle. Current sky-high rates are being caused -- by and large – by increased demand for oil in the second quarter of this year equivalent to about 20 additional VLCCs, the analysts said.
Hitachi Zosen Wins Bergesen Order
Hitachi Zosen Corp., a major Japanese shipbuilder, won 29 billion yen worth of orders from Bergesen D.Y. Group ASA of Norway for four 300,000-ton oil tankers. The tankers will be delivered between March 31, 2000 and January 31, 2001, a spokesman for Hitachi Zosen said. Hitachi Zosen posted a parent current loss of 17.49 billion yen for the year ended March 1999, its first current loss in 10 years, against current profit of 7.02 billion a year earlier, mainly due to losses from unprofitable overseas business.
Vessel Optimization Data Combines Ocean/Tidal Currents
A vessel optimization application offering combined tidal and non-tidal (ocean) current data has been launched for integrated vessel speed and route optimization. Developed by oceanographic data specialist Tidetech, the new application offers resolution of six nautical miles (0.1 degree) at 60-minute intervals in a six-day forecast. Significant passage time savings have been demonstrated in simulations. Tidetech managing director Penny Haire said this was the first time ships could access global tides and ocean currents in the same application.
NOAA Engineers a Better Current Sensor for Mariners
Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents. The Center for Operational Oceanographic Products and Services (CO-OPS) developed a more reliable, cost-saving version of a current sensor system that can now be placed at more remote locations along navigation channels. The updated Acoustic Doppler Current Profiler (ADCP) system provides real-time current speed and direction observations where many mariners need it most—at U.S.