Panama City, FL, Eastern Shipbuilding has successfully completed its Initial Critical Design Review (ICDR) milestone with the United States Coast Guard on 21 July, 2017 for the Offshore Patrol Cutter (OPC) Program. ESG’s accomplishment is noteworthy as it occurred on schedule and within the budget constraints set forth by USCG acquisition, and cleared the way to proceed to the next critical milestone known as Final Critical Design Review (FCDR). This accomplishment comes after a weeklong group of discussions…

The Trump administration imposed sanctions on 13 senior Venezuelan officials as the country's opposition launched a two-day strike on Wednesday, heaping pressure on unpopular President Nicolas Maduro to scrap plans for a controversial new congress. Venezuela's long-time ideological foe the United States targeted the country's army and police chiefs, the national director of elections, and a vice president of the state oil company for alleged corruption and rights abuses. U.S. President Donald Trump spared Venezuela for now from broader sanctions against its vital oil industry, although such actions were still under consideration. U.S.

ABS joined the Unmanned Cargo Ship Development Alliance to work with industry partners, including class organizations, shipyards, equipment manufacturers and designers to advance autonomous shipping. The design will integrate features of independent decision-making, autonomous navigation, environmental perception and remote control. “Increased digitization, advanced technologies and new levels of connectivity are changing the way the maritime industry operates,” says ABS Greater China Division President Eric Kleess.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday as rates for larger vessels dropped. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 12 points, or 1.22 percent, at 968 points. The capesize index lost 15 points, or 1.23 percent, at 1,206 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $108 at $9,439. The panamax index shed 33 points, or 2.69 percent, at 1,192 points.

Hyundai Merchant Marine (HMM) requested the Korea Development Bank (KDB) to support with a total of 9.9 trillion won (US$8.9 billion) in funds until 2022  to grow into the 8th largest global shipping company in the future, Business Korea reported. HMM had asked consulting firm AT Kearney to estimate how much support funds for HMM would be needed. AT Kearney calculated that a total of 9.9 trillion won will be needed, including 5.6 trillion won (US$5.0 billion) for large container ships…

Bremen-based shipping company Harren & Partner and "K" Line, Tokyo, have reached an agreement for Harren & Partner to acquire German carrier SAL Heavy Lift today (27 July 2017). SAL will become the new dominant player in the super heavy lift segment (900 t to 2,000 t crane capacity). SAL Heavy Lift, founded in 1980 in the "Altes Land" area near Hamburg, is one of the world's leading carriers specialised in the sea transport of heavy lift and project cargo. Its offshore subsidiary, SAL Offshore, develops and supplies installation solutions for the oil & gas and renewables sectors.

Eco Marine Power (EMP) has begun preparing for sea trials of its Aquarius Marine Renewable Energy (MRE) solution in co-operation with strategic partners and ship owner Hisafuku Kisen K.K. of Onomichi, Japan. This preparatory work will lead to the world’s first installation of an integrated rigid sail and solar power system for ships using EMP’s patented technologies including the EnergySail. This is a major step forward towards a more sustainable future for shipping and is expected…

The Japan Bank for International Cooperation (JBIC) will provide a total of $28.3 million in syndicated loans with French bank BNP Paribas to help a major Danish shipping operator’s unit buy cargo vessels to be built by leading Japanese shipbuilder Imabari Shipbuilding, Jiji Press  reported. The state-owned JBIC aims to revive the domestic regional economies relying on the shipbuilding industry by giving financial support for vessel exports at a time when the industry faces a global slump due to oversupply, the report quoted informed sources as saying.

Diana Containerships, a global shipping company specializing in the ownership of containerships, has announced that its Board of Directors  has determined to effect a reverse stock split of the Company’s common shares, par value $0.01 per share, at a ratio of one-for-six. The Company’s shareholders approved the reverse stock split and granted the Board the authority to determine the exact split ratio and proceed with the reverse stock split at the Company’s Annual Meeting of Shareholders held on June 29, 2017.

Safe Bulkers has reported a loss of $1.6 million in its second quarter ended June 30, 2017 as compared to $9.0 million, during the same period in 2016. Net loss for the six months of 2017 was $4.9 million as compared to $26.8 million, during the same period in 2016. The remaining order book consisted of one newbuild vessel; its  wholly-owned subsidiary Pinewood Shipping Corporation has contracted to acquire Hull No. 1552 with scheduled delivery date in 2018 and has agreed to issue $16.9 million of preferred equity to an unaffiliated investor upon delivery.

Canadian asset manager Brookfield Business Partners will  buy 60 percent of Teekay Offshore Partners, a subsidiary of marine transportation provider Teekay Corp, for about $750 million, Reuters reported quoting company sources. Brookfield said it would invest $610 million to buy the stake in Teekay Offshore and will also acquire a $200 million loan given by Teekay Corp to Teekay Offshore. Teekay Corp in a separate statement said, following the transaction, it would own 14 percent of Teekay Offshore.

LNG shipper GasLog Partners acquired from GasLog 100% of the shares in the entity that owns and charters the GasLog Geneva on July 3, 2017. The GasLog Geneva is a 174,000 cubic meter (cbm) tri-fuel diesel electric (TFDE) LNG carrier built in 2016 and operated by GasLog since delivery. The vessel is currently on a multi-year time charter with a subsidiary of Shell through September 2023 and Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or eight years.

The government of India is looking to privatize staterun Dredging Corporation of India (DCI). "A proposal for disinvestment of Dredging Corporation of India Limited is under consideration of the Government of India," a government press release said quoting the Minister of State for Shipping and Road Transport and Highways Pon. Radhakrishnan. The proposal is aimed at upgrading technology, improving capability, infusing capital to buy necessary dredgers and equipments and instilling experienced professional management to optimize the operations of DCI.

India Ports Global has signed a contract with Aria Banader of Iran to equip and operate two terminals at Chabahar - Shahid -Beheshti Port in Iran for transportation of goods and other purposes. "As per Article 6 of the contract, effort are to be made to commence commercial operations at Chabahar –Shahid- Beheshti Port in Iran within 18 months from the contract activation date or 4 months from the date on which the Lessor hands over the Terminals and the infrastructure facilities to the Lessee in accordance with the terms of the Contract," said a press release from the government.

U.S. shale drilling slowdown may be temporary. Oil prices rose to an eight-week high on Thursday, as a rally in U.S. gasoline futures spurred further gains this week that came after key OPEC members pledged to reduce exports and the U.S. government reported a sharp decline in crude inventories. U.S. gasoline futures were the biggest percentage gainer in the petroleum complex, up 1.6 percent to their highest since May 30. "Today's buying rotation back to the front of the (gasoline) curve is a healthy sign that augers in favor of additional price gains…

A Saudi-led military coalition and the government of Yemen denied four oil tankers access to a Yemeni port last week, a move that could hurt the flow of aid and exacerbate a cholera outbreak in the country, a United Nations agency said. The vessels were on their way to Hodeidah, a Red Sea port controlled by the rebel Houthi movement that is aligned with Iran. Saudi Arabia, a regional rival of Iran, is leading a military coalition fighting the Houthis. More than 1,900 people have died from cholera in Yemen and 400,000 cases have been reported since the start of the outbreak in April. The disease spreads in polluted water, and fuel is needed to run pumps for clean water and power generators in hospitals, among other uses. Yemen is also facing a looming famine.

Italian Prime Minister Paolo Gentiloni received a "friendly" phone call on Thursday from French President Emmanuel Macron to discuss the STX France shipyard, Libya and immigration, Gentiloni's office said. Relations between the two EU allies has been strained this month by a number of issues, including France's decision to block a bid by Italian state-owned shipbuilder Fincantieri to buy a controlling stake in STX France. Rome has also felt slighted by France's diplomatic moves in Libya and annoyed by Macron's refusal to take in migrants who have poured across the Mediterranean into Italy in recent years.   Reporting by Crispian Balmer

France will temporarily nationalise the STX France shipyard to prevent an Italian firm taking majority control, the economy minister said on Thursday, marking President Emmanuel Macron's first big industrial policy decision. As France's most avowedly pro-business leader in decades, few would have predicted the former investment banker's first big move in the corporate sector would be a nationalisation. However, his action fits with the interventionist style of other postwar French leaders. It also crosses into the defence sector, where many national governments prefer to wield influence over ownership. The Italian state-owned shipbuilder Fincantieri rejected a French offer this week of 50-50 ownership of the shipyard…

Kirby Corporation (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2017 of $25.8 million, or $0.48 per share, compared with $38.9 million, or $0.72 per share, for the 2016 second quarter. Second quarter net earnings includes pre-tax expenses of $0.7 million, or approximately $0.01 per share, related to the pending acquisition of Stewart & Stevenson LLC (“S&S”). Consolidated revenues for the 2017 second quarter were $473.3 million compared with $441.6 million reported for the 2016 second quarter.

Tripoli government invited Italy into its waters; some 600,000 boat migrants have come to Italy since 2014. Italy intends to deploy several ships in Libyan waters by the end of August to fight human trafficking and stem a flood of immigrants, a government source said on Thursday. A mission plan should be brought to the Cabinet for approval on Friday, and the necessary parliamentary vote to endorse it may be held next week, the source said. "The exact number of ships and sailors is still being worked out," said the source. If parliament approves, the mission might begin "by the end of August", he said. Prime Minister Paolo Gentiloni met with military chiefs and ministers on Thursday to discuss "security, immigration and the Libyan situation", according to a statement.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday for a second straight day, on weaker rates across all vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 26 points, or 2.69 percent, at 942 points. The capesize index lost 68 points, or 5.64 percent, at 1,138 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $438 at $9,001.

A Shanghai district government plans to spend about 5 billion yuan ($739.97 million) to develop a cruise ship industrial park to house foreign firms that it hopes will help build China's first luxury passenger vessels, a local official said. China's government has earmarked cruise shipbuilding as a major objective in its "Made in China 2025" programme to upgrade its manufacturing and support jobs at its shipyards, as domestic demand for cruise trips increases 30 percent a year. Firms who set up shop in the new zone could expect financing support from banks and recently established government funds, Lei Shuguang, director on the administrative committee of Shanghai Baoshan Industrial Zone, told Reuters on Wednesday.

French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until Thursday. The French state said on Wednesday it would nationalise the STX France shipyard if Italy does not accept its offer to split STX's capital equally, putting down a marker on the limits of economic liberalism under new President Emmanuel Macron. The threat raises the stakes in a standoff with Rome over the shipyard's fate, the only one in France with facilities large enough to build aircraft carriers.

The world’s largest shipbuilding nation China is facing some tough years ahead as new-vessel orders weaken and order backlogs decline, Caixin reported quoting China Association of the National Shipbuilding Industry (CANSI). According to the industry association, in the first half of 2017, new orders received by Chinese shipbuilders plunged by 29 percent year-on-year in terms of total estimated freight volume for the new ships, the report said. The new orders are totaling 11.51 million deadweight tons. Deadweight tonnage is how much a ship can safely carry, not the weight of the ship itself.

DP World Limited handled 34.0 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2017, with gross container volumes growing by 8.2% year-on-year on a reported basis and 7.7% on a like- for-like basis, with second quarter growth rates accelerating to 10.7% year-on-year on a reported basis and 10.4% on a like-for-like basis, ahead of Drewry Maritime’s upgraded industry estimate of 4% throughput growth in 2017. The first…

Costamare accepted delivery of three second hand vessels during the last quarter ended June 30, 2017, said Gregory Zikos, Chief Financial Officer of Costamare. In a press statement he said that the vessels have been chartered for periods ranging from 5 to 7 years. "During the quarter we entered into debt financing agreements for two of them and we are into discussions regarding the debt finance of the third ship. As of today all of our new building program is fully funded with remaining equity commitments amounting to only US $ 2 million, due in 2018," he added.

USS Harry S. Truman (CVN 75) returned July 25 to its homeport at Naval Station Norfolk for the first time in nearly a year, following the completion of sea trials. "Sea trials is a five-day underway that pushes the limits of the ship; a true shakedown," said Truman's Executive Officer Capt. Cassidy Norman. "Everything we've done for the past year has been building up to this moment. Team Truman navigated through the sea trials checklist completing a number of evolutions, including small boat recoveries…

Hyundai Merchant Marine (HMM) has announced that its Asia-US west coast (USWC) volume in June 2017 increased 77% year-on-year. According to PIERS Data, HMM’s Asia-USWC handling cargo rose year-on-year from 7,953 TEU/WK to 14,055 TEU/WK (up 77%) at the end of June 2017. Moreover, HMM ranked 4th in terms of market share, up from 12th the previous year. HMM’s Asia-all US route cargo handling also rose year-on-year from 11,626 TEU/WK to 17,291 TEU/WK (up 49%) in June 2017. Furthermore, HMM’s USWC market share has grown to 7.4%, up 3.4%p from the same month last year.

The safety of navigation is vital to the safety, security and economic activities of all stakeholders traversing sea routes in Asia—the region with some of the busiest seas in the world. Recognising this shared interest, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre and Oil Companies International Marine Forum (OCIMF) signed a Memorandum of Understanding (MOU) on July 24, 2017 in London to boost the fight against piracy and armed robbery against ships in Asia.

Abu Dhabi Ports has no plans to launch a public sale of shares in the short term, the chief executive of the state-owned company told Reuters on Tuesday. "There are no immediate plans to go public," Mohamed Juma al Shamisi said when asked if the company planned to sell shares and a subsequent listing. His comments came after Bloomberg News reported that Abu Dhabi Ports is considering an initial public offering, joining a growing list of state entities in the United Arab Emirates seeking to sell shares, citing people familiar with the matter.

A U.S. Navy ship fired warning shots when an Iranian vessel in the Gulf came within 150 yards (137 meters) on Tuesday in the first such incident since President Donald Trump took office in January, U.S. officials said. The last major incident was earlier in January, though there have been instances when a U.S. vessel fired a flare as well as an event in March when a U.S. Navy ship was forced to change course after multiple fast-attack vessels from the Islamic Revolutionary Guard came too close. In a statement, U.S. Naval Forces Central Command said the patrol craft, named Thunderbolt, fired the warning shots in front of the Iranian vessel after it ignored radio calls, flares and the ship's whistle.

European multimodal transport provider Samskip said it will acquire activities associated with Nor Lines AS, marking a major expansion of its shipping, transport and logistics businesses in Norway. Subject to approval by Norway’s competition authorities, Samskip has agreed with the DSD Group to acquire the activities of Nor Lines, which generate an average annual turnover of €110 million ($128.2 million). With its head office in Stavanger, Nor Lines is a diversified logistics business offering domestic and international services.

Leveraging 27 worldwide offices, the RMI Registry has been gaining market share year-on-year. Surging tonnage and a solid record for safety has pushed the registry to the head of the class. When the Marshall Islands Registry announced that it had become the world’s second largest – at a whopping 223,262,177 deadweight tons – the registry’s leadership was quick to emphasize quality as the leading reason. International Registries (IRI) President Bill Gallagher didn’t discount the importance of the deadweight milestone, but quickly moved the conversation towards why it had happened.

ASA Sets the Record Straight. The U.S. salvage industry came under attack at a recent Congressional hearing on May 3 by a special commercial interest that is promoting its own agenda. The American Salvage Association (ASA) intends to set the record straight. At the hearing, the attacking group made false allegations that the Salvage and Marine Firefighting (SMFF) resource providers are not willing or contractually obligated to respond and lack the resources to meet regulated response requirements. At the same hearing, this group also criticized the U.S.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, supported by higher rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.31 percent, at 980 points. The capesize index jumped 50 points, or 4.27 percent, to 1,221 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $332 to $9,547.

State-owned ports operator DP World on Tuesday reported second-quarter gross container volumes up 10.4 percent on a like-for-like basis and 10.7 percent on a reported basis. DP World handled 17.6 million twenty-foot equivalent units (TEUs) in the three months to June 30, the company said in a statement. Volumes in the second quarter were driven by improved trading conditions and market share gain from new shipping alliances, said DP World Chairman Sultan Ahmed bin Sulayem. Half-year gross container volumes rose 7.7 percent on a like-for-like basis and 8.2 percent on a reported basis.

A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS). DBS said that with orders at a trough and expectations for only a modest recovery, a merger of Singapore's two major rigbuilders could create a global giant that is more competitive and resilient. “A merger could make sense to further streamline their operations, achieve cost synergies and eliminate competition in the medium term,” DBS said.

Oil service company Helix Energy Solutions has narrowed its loss in the second quarter of 2017 backed by increased activity of its well intervention business. Mainly North Sea operations helped narrow the firm’s losses. The group, which controls Aberdeen based Helix Well Ops and Canyon Offshore, reported a net loss of $22.9million for the first six months of the year, compared to $38.5million in the same period last year. It reported a net loss of $6.4 million for the second quarter of 2017 compared to a net loss of $10.7 million for the same period in 2016.

Höegh LNG Holdings has announced that it has received commitment letters for a US$230 million debt financing for its eighth floating storage and regasification unit (FSRU). The Facility comprises a 12 year export credit agency (ECA) term loan of up to USD 150 million backed by Garantiinstituttet for Eksportkreditt (GIEK) and Eksportkreditt of Norway, and a 5 year non-amortising commercial bank loan of up to USD 80 million funded by ABN AMRO Bank, Danske Bank, Nordea and Swedbank.

Qatar Gas Transport Company (known as “Nakilat”, which means carriers in Arabic) recorded its financial results for the first half of the year ended June 30, 2017 with a net profit of QR 409 million ($112 million) compared to QR 501 million ($137 million) of the same period last year in 2016. The lower profit was mainly attributed to the lower number of charter hire days in the current period compared to the same period last year (2016 was a leap year), the effect of changing…

Mitsui O.S.K. Lines (MOL) has announced that on July 20, its core dry-cargo ship management company, MOL Ship Management  received a new certification of its Environmental Management System ISO14001: 2015 and Energy Management System ISO50001from Nippon Kaiji Kyokai (ClassNK) after undergoing stringent transition audit and renewal audit processes. MOLSHIP acquired ISO14001: 2004 and ISO50001: 2011 certifications at the same time from ClassNK in July 2014 . Since then, it has worked…

The Standard Club has advised its members that at the start of July the Nautical Institute launched its Ice Navigator Scheme. This scheme is designed to help meet the demand for properly trained officers with the skills and knowledge to handle a ship in ice. The scheme is designed to run in conjunction with the Polar Code and builds on STCW requirements. It focuses on the practical elements necessary to handle a ship and manage operations in ice covered waters worldwide; it is not limited to the Polar Regions. Participants in the scheme can be awarded Ice Navigator Level 1 or 2.

Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2017, introduced during the Winter Session of Indian Parliament came up for discussion in the Rajya Sabha (Upper House) and was passed unanimously by the house. The Bill aims to establish a legal framework for consolidation of related laws to replace the age old archaic laws with modern Indian legislation and to confer admiralty jurisdiction on all High Courts of the coastal states of the country. The bill was earlier passed by the Lok Sabha in March, 2017.

Merseyside maritime company Wren Industrial & Marine Fabrications has been bought by Merseyside entrepreneur and former member of the Armed Forces Jonathan Willoughby. Bootle-based Wren Industrial has been run for 27 years by husband and wife team David and Helen Wren. It specializes in manufacturing doors, windows and hatches for ships and boats as well as welding and fabrication services primarily in the maritime sector. Wren’s clients include the Royal Navy, the Royal Fleet Auxiliary and ferry operators Stena and the Isle of Man Steam Packet Company.

BAE Systems said it has begun to build the first of the U.K. Royal Navy’s new Type 26 Global Combat Ships. Sir Michael Fallon MP, U.K. Secretary of State for Defense, visited the builder’s Glasgow shipyard to press the button to officially commence production on the new warship, and during his speech revealed the vessel’s name: Glasgow. This ceremonial event follows the U.K Government’s recent award of a contract worth approximately £3.7 billion for the first three ships to be built at BAE Systems’ sites in Glasgow.

A study unveiled today documents the contribution of the American tugboat, towboat and barge industry to the U.S. economy. The study, developed through a cooperative agreement between the American Waterways Operators (AWO) and the Maritime Administration (MARAD) and conducted by PricewaterhouseCoopers, explores the industry's economic contributions to employment, gross domestic product and taxes at the national and state levels; details the types and quantities of vital commodities transported on American waterways…

French firm Necotrans and the Philippines' International Container Terminal Services submitted bids on Monday to operate Guinea Bissau's main port, the transport minister said, as the government looks to cede control to a private operator. The main port in the capital Bissau, which is small and can only be serviced at high tide by some cargoes, has been operated by a state agency ever since the government stripped Portugal-based operator Tertir of the concession rights in 1999. "The French company Necotrans and the Philippines' ICTSI are neck-and-neck to exploit the commercial port of Bissau," Transport Minister Fidelis Forbes told reporters in Bissau. The government will select the operator next month, he said.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was flat on Monday, as gains across capesize vessels were offset by lower rates for panamaxes. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was unchanged at 977 points, after gaining for nine straight sessions. The capesize index climbed 17 points, or 1.47 percent, to 1,171 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $45 at $9,215.

State-run Philippine National Oil Company (PNOC) has shortlisted six countries and will choose one from them as a partner for its planned US$2 billion receiving and distribution facility for imported LNG, Reuters reported. The company has received six proposals from China, Indonesia, Japan, Singapore, South Korea and the United Arab Emirates (UAE) to co-build the LNG hub, PNOC’s head of LNG team and technical adviser Arwin Ardon quoted as saying. He said all proposals include storage, liquefaction, regassification, a power plant, and distribution facility as part of the LNG terminal.

Songa Offshore had submitted its defence to the claims asserted by Daewoo Shipbuilding & Marine Engineering (DSME) in arbitrations related to the Songa Equinox, the first Cat D rig, and the Songa Endurance, the second Cat D rig, in which DSME asserted aggregate claims of USD 329 million, along with a request for repayment of liquidated damages in a total amount of USD 43.8 million, totalling to USD 372.8 million. The claims asserted related to alleged cost overruns and additional…

HMAS Arunta has sailed into her home port of Fleet Base West in Rockingham, Western Australia, after completing the longest Middle Eastern deployment of an Australian Navy vessel since the first Gulf War. Senator for Western Australia, Linda Reynolds; Commander Australian Fleet, Rear Admiral Stuart Mayer; and family and friends of the ship’s company welcomed the Anzac class frigate home after her nine-month deployment to Operation MANITOU. During her deployment, Arunta intercepted…

President Donald J. Trump commissioned the aircraft carrier USS Gerald R. Ford (CVN 78) at a commissioning ceremony July 22. A commissioning is a day of celebration, and honors the dedication, team work, and collaboration of Sailors, legislators, shipbuilders, program managers, and the ship's sponsor in delivering the ship to the fleet. Trump landed on the flight deck in Marine One and was greeted by Secretary of Defense James Mattis, Acting Secretary of the Navy Sean Stackley, Chief of Naval Operations Adm. John Richardson, and USS Gerald R. Ford Commanding Officer Capt. Rick McCormack.

USS Harry S. Truman (CVN 75) departed Norfolk Naval Shipyard (NNSY) for Sea Trials July 21 following a 10-month Planned Incremental Availability (PIA). Truman's Commanding Officer, Capt. Ryan B. Scholl, praised ship forces, NNSY and civilian contractors for working together to stay on schedule and making an on-time departure from the shipyard. "The number one goal for this ship over the last year was making it better than when it arrived here," said Scholl. "This excitement, enthusiasm and teamwork is what propelled us out of the shipyard.

Former DNV GL President and CEO, Henrik O. Madsen has presented UN Secretary-General António Guterres with a testimonial attesting to DNV GL's assessment of the UN Sustainable Development Goals (SDGs) at the UN Headquarters in New York this week. The presentation took place during a Board meeting of UN Global Compact, the world's largest corporate sustainability initiative, with over 9000 member companies. The Future of Spaceship Earth report is DNV GL's long term forecast of the state of our planet in 2050.

Identifying and dealing with potential threats to port security operations was at the core of a three-day workshop in Belize City, Belize (18-20 July). The event took a closer look at security needs and associated risks. Through interactive presentations and discussions between participants the workshop helped identify opportunities for increased collaboration between government agencies and port owners/operators as well as assessing port security training priorities. The workshop…

The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30, when it was chartered by oil trader Vitol carrying Iraqi Kurdish crude oil, Reuters ship-tracking showed on Friday. The tanker had been heading to eastern Canada to discharge the cargo at the end of June when the Federal Court of Canada issued a seizure order for the cargo at the request of Iraq's oil ministry. Iraq alleges the cargo was unlawfully misappropriated by the Kurdistan Regional Government (KRG) and sold to Vitol. Along with the seizure request made to Canada, the ministry filed a separate claim against Vitol and two subsidiaries for $32.5 million. The tanker appears empty, according to the draft on the ship tracking system.

Environmental activists protested on Friday near an offshore rig contracted by Statoil in the remote Norwegian Arctic, where the firm is looking for oil and gas deposits. The Nordic country wants to open up northern areas for exploration to offset declining production in the south. Oil and gas production is Norway's leading industry, accounting for 20 percent of its economy. From the Greenpeace Arctic Sunrise ship, 11 campaigners launched inflatable boats carrying banners opposing Statoil's Songa Enabler oil rig, 275 km (170 miles) north of the Norwegian coast, in the Arctic Barents sea. One of the banners read "“The People Vs. Arctic Oil”.

July 20 marks a milestone in Subchapter M implementation. Towing vessels with keels laid or major conversions on or after July 20, 2017 are required to meet 46 CFR Subchapter M and obtain a Certificate of Inspection (COI) prior to operating. Additionally, starting July 20, 2018, a portion of existing towing vessels will have one year to meet all of Subchapter M and obtain COIs. By July 19, 2022, 100 percent of the towing vessels must have valid COIs on board. Owners or managing…

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the ninth straight session, on higher rates for capesize and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.35 percent, at 977 points, touching its highest in more than two months. The capesize index climbed 61 points, or 5.58 percent, to 1,154 points. Capesize dry bulker earnings are finishing the week on a firm note with assessments lifting up to about $9…

Rate correction likely after low S-Oil charter drags market. Freight rates for very large crude carriers (VLCCs) could see a small respite next week, building on the slight improvement seen in the last two days although sentiment is likely to remain pessimistic of any real recovery, brokers said on Friday. "There was a large drop on Tuesday when South Korea's S-Oil fixed at 45.50 (on the Worldscale measure). But rates are now correcting," a Singapore-based supertanker broker said.

Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV. The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of the deal were not disclosed since it is subject to approval. The agreement, if approved, would extend a strategic alliance with Schlumberger that dates to 2011, Eurasia added. EDC is an onshore and offshore drilling and well services contractor.

With an increase in throughput of 3.9%, the port of Rotterdam can look back a good first half year. There was growth in eight of the ten market segments. The only falls were in the volumes of mineral oil products and other liquid bulk. In particular, the volume of containers handled (9.3% in TEU, 10.4% in tonnes) was the determining factor for the overall growth in throughput. Dry bulk increased (5.2%), liquid bulk decreased slightly (-1.0%) and break bulk was very much on the rise (10.8%). A total of 238.0 million tonnes of goods were handled in the first half of the year.

Australia’s amphibious capability was put to the test recently as the Amphibious Task Group Headquarters took charge of the largest amphibious assault conducted by an Australian force for 70 years as part of Exercise TALISMAN SABER. The assault, led from amphibious sssault ship HMAS Canberra, was a significant milestone in the Australian Defence Force’s development of a high end amphibious warfare capability. The Australian and New Zealand Amphibious Ready Group, consisting of HMA Ships Canberra and Choules and the Royal New Zealand Navy’s HMNZS Canterbury…

Florida-based Swordfish Partners and Deep Blue Exploration have contracted Blue Water Ventures International to recover potentially valuable artifacts and coins from a shipwreck site off the coast of North Carolina the parties believe to be the 1838 sinking of the steam paddle wheeler, Pulaski. Endurance discovered the site of the loss and the shipwreck is currently subject of a Swordfish Partners admiralty claim in the U.S. District Court for the Middle District of Florida, Tampa.

Cargotec Corporation said that the orders received for H1 for the period of January-June 2017 decreased 4 percent and totalled EUR 1.7bln (USD 1.9bln). The total sales declined 5 percent and totalled EUR 1,638 for the period. However, Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million). Cargotec's CEO Mika Vehviläinen said: "The development of our business continued to be positive during the second quarter of 2017.

The Navy will commission its newest aircraft carrier, the future USS Gerald R. Ford (CVN 78), during a 10 a.m. EDT ceremony Saturday, July 22, at Naval Station Norfolk. USS Gerald R. Ford (CVN 78) is the lead ship of the new Gerald R. Ford class of aircraft carrier, the first new class in more than 40 years and will begin the phased replacement of Nimitz-class carriers when the ship is commissioned. CVN 78 honors the 38th president of the United States and pays tribute to his lifetime of service in the Navy, in the U.S. government and to the nation.

The use of oil spill dispersants, which can be used to break down an oil slick into smaller droplets as part of response efforts, is the subject of a workshop taking place in Dakar, Senegal (17-20 July). Participants from 11 countries (Benin, the Congo, Côte d’Ivoire, Democratic Republic of the Congo, Gabon, Guinea, Guinea-Bissau, Mauritania, Sao Tome and Principe, Senegal, Togo) are attending the sub-regional workshop, which will analyse national policies on dispersant use and provide training on further development and implementation of these policies.

In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping. There are 18 major ship-repairing facilities on western coast and seven on eastern coast  at present in the country.

Duke University said it has received $11 million for the construction and operation of a new state-of-the-art vessel that will expand teaching and research capabilities at its marine lab. The gift to the Nicholas School of the Environment from the Grainger Family Descendants Fund, a donor-advised fund at The Chicago Community Trust, provides $5 million to build the new 68-foot oceangoing research vessel and an additional $6 million to support operating costs. The ship will have wet labs and dry labs, oceanographic equipment, a galley and sleeping quarters. It will be an oceangoing classroom to train undergraduate and graduate students in oceanography and marine biology at the Duke Marine Lab at Beaufort, N.C.

Classification society DNV GL has developed a new brochure to offer a set of best practices for the design of ships subject to NOx Tier III requirements. It also offers guidance on the considerations that should be taken into account at the newbuilding stage. To ensure the success of any newbuilding plan, shipowners should carefully consider the future operation of their vessels in the newbuilding planning stage, including the implications of the different technological solutions for reducing NOx emissions and how to fulfil the NOx Tier III requirements.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday supported by robust demand for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, increased 16 points, or 1.69 percent, to 964 points. The capesize index jumped 65 points, or 6.32 percent, to 1,093 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $363 to $8,774.

Finnish ship technology and power plant maker Wartsila reported on Thursday a bigger-than-expected rise in quarterly order intake, saying the market demand had improved for its marine solution business. * Bookings of new orders in the second quarter increased 14 percent from a year earlier to 1.36 billion euros ($1.57 billion), beating analysts' average expectation of 1.22 billion in a Reuters poll. * Adjusted operating profit rose 3 percent from a year ago to 126 million euros, roughly in line with the market consensus.

PetroChina is this week unloading the first Chinese purchase of crude oil from U.S. strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources. The move comes as China, the world's No.2 oil consumer, steps up imports from the Americas to diversify supply sources. PetroChina unit, PetroChina International America Inc, bought the 550,000-barrel cargo of Bryan Mound sour crude in a sale from U.S. strategic petroleum reserves in March for $28.8 million. Supertanker Cosrising Lake <C}KV7309834335>, chartered by PetroChina, is unloading the U.S.

Q2 profit S$161 million versus S$205 million year ago; O&M division net order book at S$3.4 billion. Singaporean conglomerate Keppel Corp posted a 21 percent drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market. The conglomerate and its smaller cross-town rival Sembcorp Marine have been hit by an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing new orders with oil prices expected to stay lower for longer. "Despite some pick-up in activity in the offshore market, the general consensus is that, with the prevailing uncertainty in the oil market, and oversupply in the jackup market, a quick recovery is unlikely," said CEO Loh Chin Hua.

Paragon Offshore Group announced that it has emerged from bankruptcy after completing a restructuring that eliminated USD 2.3 billion of debt. The successor company to Paragon Offshore PLC , which filed for bankruptcy in February 2016 with USD 2.96 billion of debt, also named a new board of directors. The search for a new CEO is underway. "The plan of reorganization under chapter 11 of the United States Bankruptcy Code substantially de-levers the company’s ongoing business, eliminating  approximately $2.3 billion of secured and unsecured debt.

The port of Antwerp handled 111,385,518 tonnes of freight during the first six months of this year, 2.8% more than in the same period last year. Container freight once more performed well after a number of exceptional years, with an increase of 2.5% in terms of tonnage and 1.9% in TEU. Liquid bulk, a regular climber, finished 1.8% up at the end of June. After the previous record years these figures inspire further confidence. “We have achieved them against a background of already good performance,” declared Port Authority CEO Jacques Vandermeiren.

The UK’s Maritime & Coastguard Agency (MCA) is modernising the way the UK Ship Register operates and a number of new initiatives are in the works that could help the red ensign become more commercial and internationally competitive, says a report from UK Chamber of Shipping. The MCA is considering increasing the fee structure for the UK Ship Register to above 2016 levels, attendees heard at the All-Party Parliamentary Group for Maritime and Ports on Monday. The registry is working to improve the response time for enquiries to one working day…

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Revalidation of permission to raise Extra Budgetary Resource (EBRs) of INR 660 crore (USD 103 mln) as Government of India Bonds by Inland Waterways Authority of India (IWAI) in 2017-18. The proceeds from the bonds will be utilized by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016). Funds received through issue of bonds will be used exclusively for capital expenditure to improve infrastructure funding.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for seventh session in a row on Wednesday supported by stronger demand for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 16 points, or 1.72 percent, to 948 points. The capesize index climbed 44 points, or 4.47 percent, to 1,028 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $240 at $8,411.

A think tank that advises the Russian government on taxes and energy-related issues said on Wednesday it expects the country's oil exports to fall this year thanks to a global deal to cut output, contrasting with official forecasts for a rise. Vygon Consulting said in a presentation to reporters that oil exports this year are seen declining by 0.7 percent to 252.5 million tonnes (5.1 million barrels per day) from around 255 million tonnes in 2016, a record high. The Energy Ministry forecasts Russian crude oil exports this year at 257 million tonnes.

Two French former defence industry executives have been placed under preliminary investigation as part of a probe into the 2002 sale of submarines to Malaysia, an official in the French judiciary said on Wednesday. The source said Philippe Japiot and Jean-Paul Perrier, former executives at Thales and DCNS, had been placed under investigation as part of a long-running probe into alleged kickbacks from that Malaysian submarines deal in 2002. Japiot and Perrier deny any wrongdoing, French media reports said. Reuters was unable to immediately reach either individual. Being a target of a preliminary investigation or a formal investigation in France does not necessarily lead to a trial.

U.K.-based manufacturer of ballast water treatment systems based on unique inert gas technology Coldharbour Marine said it has signed a contract with Lloyd’s Register (LR) to oversee the complete range of tests required by the U.S. Coast Guard (USCG) in its type approval process. LR has Independent Laboratory Approval from the USCG and will work closely in the type approval tests with Marine Eco Analytics (MEA), a test laboratory in the Netherlands. Revised and more comprehensive…

The Dubai Maritime City Authority (DMCA) shared its renowned experience in implementing world-class maritime registration and licensing services with the Department of Municipal Affairs and Transport in Abu Dhabi (DMAT) during their recently held meeting. Both parties also exchanged expertise to achieve their common goals of further improving the marine licensing system according to the highest international standards and reinforcing the UAE’s position as one of the most important maritime and logistics capitals in the world.

South Korea’s shipbuilder Samsung Heavy Industries (SHI) is looking to further cut its workforce,  and have employees return part of their salaries in order to cut costs, according to Yonhap News Agency. SHI unveiled a self-restructuring program that centers on cutting the workforce and having executives return part of their salaries last year, in order to tide over a protracted slump in the shipbuilding sector. The report said that Samsung Heavy was forced to reduce its workforce by 1,500 in 2016 through an early retirement scheme.

A total of 36 incidents of piracy and armed robbery against ships (comprising 30 actual incidents and six attempted incidents) were reported during January-June 2017 in Asia, said a report by Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia Information Sharing Centre (ReCAAP ISC). The total number of incidents reported during January-June 2017 has decreased by 22% compared to the same period in 2016. A total of 46 incidents were reported during January-June 2016.

Naval maritime forces from 19 countries are gathering in Lima, Peru, to kick off the 58th iteration of the annual multilateral exercise UNITAS. The meeting will conclude on July 26. This year's exercise will be hosted by Peru and commanded by Peruvian navy Rear Adm. Alberto Alcala. Participating countries include the United States, Peru, Brazil, Paraguay, Argentina, Australia, Chile, Colombia, Dominican Republic, Ecuador, Guatemala, Honduras, Indonesia, Italy, Panama, Mexico, Spain, Canada, and the United Kingdom. While participating in UNITAS 2017, U.S.

International Maritime Organization (IMO) has a key role in implementing a number of UN Sustainable Development Goals (SDGs) which relate directly or indirectly to the oceans, protection of the environment and the maritime industry. How to support the 2030 Agenda for Sustainable Development and implement the UN SDGS is therefore a key theme which underpins the work of IMO's Technical Co-operation Committee, which oversees IMO's integrated technical co-operation programme (ITCP). The Committee is meeting for its 67th session (17-19 July).

The government of India has approved a draft bill to empower 12 major ports in India by providing them full autonomy in decision-making for greater efficiency. According to Union Minister of State for Shipping Mansukh Lal Mandaviya, the Major Port Authorities Bill, 2016 once enacted, would replace the Major Port Trusts Act, 1963. "With the growth and development of private ports, the major ports are facing severe competition and difficulties in implementing the changes which may help them compete in the evolving market conditions.

Wison Offshore & Marine said its newly-developed floating storage regasification and power generation barge (W-FSRP) has received Approval in Principle from Bureau Veritas. W-FSRP integrates functions of LNG loading and storage facilities, regasification and power generation. Wison and Bureau Veritas have completed the validation for the specified design of 50MW FSRP this time. As the turnkey service provider for the world’s first FLNG and FSRU barge,Wison built on its rich expertise in floating LNG facilities to provide the LNG industry with innovative solutions…

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 20 points, or 2.19 percent, at 932 points. The capesize index gained 51 points, or 5.47 percent, to 984 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $391 at $8,171.

The Taiwanese ocean carrier Yang Ming Marine Transport will make a public offering of 500 million shares as part of the company's ongoing recapitalization plan, the Taiwanese ocean carrier said in a statement . It will offer the shares to existing shareholders, Yang Ming employees and the general public as part of the company's ongoing recapitalization plan. "As the subsequent round of private offering continues with amounts pledged exceeding the first round, the Board of Directors of Yang Ming on July 14…

Cyprus-based American Hellenic Hull Insurance (AHHI) surpassed key targets during its first year of operation: 1,900 insured vessels, written premium income exceeded $10 million and covered 35 million GT on 100% basis, said a press statement. During its latest Board meeting in June 2017, American Hellenic Hull Insurance Company appointed two new Directors, Angelos Kostakos of Oceanstar Management Inc. and . Panagiotis Christodoulatos of Ikaros Shipping & Brokerage Kostakos is Legal, Insurance and Claims Director of Oceanstar Management Inc.

APL has announced its highest recorded fleet carbon dioxide emissions reduction of 48 percent in 2016, compared to its base level in 2009. Verified by Lloyd’s Register Group according to the Clean Cargo Working Group (CCWG) verification protocol and ISO14064-3:2006 standard, this achievement marks APL’s seventh consecutive year of improvements. “APL is pleased to register our best carbon reduction performance as yet, improving our fleet emission level by about 3 percent, versus our reduction in 2015.

Mapping and shaping the growth of marine hybrid means many things to different stakeholders. The journey leads us all to the same place. If you follow the advancements in automotive design, the term or tag “hybrid” has come to define the alternative energy movement on our roads and highways. HEV autos have moved past Ford and GM in Detroit and into the hands of contemporary entrepreneurs and inventors the likes of Tesla’s Evan Musk or Dr. Victor Wouk. BMW, Ferrari, Bentley and…

A new study seeks to determine the extent to which biofouling on ships’ hulls is contributing to the spread of invasive aquatic species in the Mediterranean Sea – a phenomenon commonly associated with ship ballasting operations. According to recent research published by Tel Aviv University’s School of Zoology, half the ships passing along the Mediterranean coast of Israel are carrying invasive ascidians, presenting a global threat to ecosystems around the world. TAU’s Dr. Noa Shenkar…

ABS said it has updated the ABS Advisory on Exhaust Gas Scrubber Systems (Scrubber Advisory) to help industry prepare for IMO’s 2020 global sulfur cap. Central to the impending 2020 global sulfur cap are requirements to reduce the sulfur oxide (SOx) emissions from ships. Installation of exhaust gas cleaning systems (EGCS), commonly referred to as scrubbers, is a potential solution for owners looking to comply with the upcoming requirements. This updated Advisory includes background on air emission regulations and explores the different types of available scrubber technologies along with the associated installation and operational challenges for each.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed the strategic importance of security agencies to the achievement of safe and secure shipping and a viable and vibrant maritime sector for the country’s benefits. The Director General who stated this while playing host to the General Officer Commanding (GOC) 81 Division of the Nigerian Army, Major General Peter John Dauke at the Agency’s Headquarters in Lagos said that as the Agency strives to achieve a secure maritime environment…

StormGeo’s shipping division (formerly AWT) has received its certification as an EU MRV supplier by Verifavia Shipping. The European Union’s decision to monitor CO2 emissions for most vessels in excess of 5000 gross tons affects owners or vessel managers with ships that are calling on ports in EU member states. The EU requires ship-specific monitoring plans to be in place by August 31, 2017, including being MRV compliant for Monitoring, Reporting and Verification. StormGeo's shipping division (formerly AWT) has been collecting data, monitoring data and reporting data on fuel consumption and emissions for over twenty years. More than 60,000 voyages utilized StormGeo’s methods of collecting and reporting data in 2016.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, tracking gains across panamax and smaller vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.33 percent, at 912 points. The capesize index was flat at 933 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $62 to $7,780. The panamax index was up 29 points, or 2.47 percent, at 1,202 points.

The healthy international trade and cost cutting measures augurs well for Japan's to three marine shippers -  Nippon Yusen, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha - reported Nikkei. The report said that the three companies are expected to post a group pretax profit for April-June, the first time in seven quarters. According to the report, Mitsui O.S.K.'s pretax profit likely tripled on the year to around 2 billion yen ($17.7 million), while Nippon Yusen's is seen reaching about 5 billion yen after a year-earlier pretax loss of 9.9 billion yen.

With a slew of contracts to be signed soon  South Korean shipyards are expected to clinch a decent number of new orders during the second half of the year, Yonhap reported quoting  industry sources. Hyundai Heavy Industries (HHI) and its affiliates have secured a series of fresh contracts, with their new orders reaching US$4.2 billion for 72 ships in the first six months of the year. In the January-June period, Samsung Heavy Industries (SHI) won $4.8 billion worth of orders to build 13 ships, including two offshore plants.

With the aim to dominate maritime industry China has been acquiring overseas ports with huge investments which crossed USD 20 bln last year, Financial Times reported. Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power, says the report. China is aggressively pushing its  “One Belt One Road”, a grand scheme to win diplomatic allies and open markets in around 65 countries between Asia and Europe. It is pushing ahead with plans to open new shipping routes through the Arctic circle, the report said.

Egyptian Ministry of Petroleum entered in a partnership with the Ministry of Public Business Sector to establish a petrochemical plant in Suez governorate at a total cost exceeds $4 billion, Zawya reported quoting Petroleum Minister Tarek el-Molla. The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, el-Molla added. The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.

Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway. The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced. "Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. The delivery of the anchor handling tug and supply vessel Far Shogun to the new owner took place on Thursday, July 13," said the company.

Tidewater, one of the world's largest offshore vessel owners, said that a court in Delaware approved the company's plans for a restructuring has, which would eliminate $1.6B in debt. The US-based owner of one of the world’s largest fleets of OSVs will be able to recapitalise and refinance debt on its balance sheet. "We are very pleased that the court has confirmed our Plan within a relatively short time frame," said Jeffrey M. Platt, Tidewater's President and Chief Executive Officer.

The Navy will commission its newest guided-missile destroyer, the future USS John Finn (DDG 113), during a 10 a.m. HAST ceremony Saturday, July 15, at Joint Base Pearl Harbor-Hickam, Hawaii. The new destroyer honors Chief Aviation Ordnanceman John Finn, who received the Medal of Honor for heroism during the first attack by Japanese airplanes at Pearl Harbor. While under heavy machine gun fire, Finn manned a .50-caliber machine gun mounted on an instruction stand in a completely exposed section of the parking ramp. Wounded multiple times, he had to be convinced to leave his post.

M/V Acorus vessel was detained in Port of Asprogirpos (Elefsis) - Greece on 6 July 2017. This is the third detention in the Paris MoU region within the last 36 months. The ship flies the flag of Moldova Republic, which is black on the current Paris MoU WGB list. "Therefore under the provisions of section 4 of the Paris MoU, Article 16 of EU Council Directive 2009/16/EC, the ship will be refused further access to any port and anchorage in the Paris MOU region, except a port and anchorage of the ship’s flag State," said a release from  Paris MoU.

Charterers set to split VLCC cargoes if owners push rates higher. Freight rates for very large crude carriers (VLCCs) are coming under pressure from a build up in ships waiting for new charters and depressed rates in smaller tanker sizes, brokers said on Friday. "At the slightest attempt by owners to push rates higher, charterers can split the cargo into Suezmax cargoes for the same rate," an European supertanker broker said on Friday. A VLCC can carry around 2 million barrels of oil while a Suezmax tanker can transport about 1 million barrels.

Diana Containerships has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Maersk Line A/S for one of its Post-Panamax container vessels, the m/v Puelo, for a period of minimum eight months to maximum 18 months. The gross charter rate is US$10,600 per day for the first eight  months of the charter period and US$12,000 per day for the balance period of the time charter, in each case minus a 5.0% commission paid to third parties. The charter is expected to commence on August 2, 2017.

The IMB has published its report on piracy and armed robbery for the second quarter of 2017, covering the period from 1 January to 30 June 2017. The report highlights continuing decline in the number of incidents of maritime piracy, said a press release from The Standard Club. 87 incidents have been reported in the first six months of 2017, with 63 ships boarded, eight attempted attacks, four ships hijacked and 12 ships fired upon. This represents a decrease from 2016 when there were 97 reported incidents in the same period.

Making her way north to commence duties as part of Operation MANITOU, HMAS Newcastle made a port visit to Cochin, India, further strengthening relationships recently made on exercise off Fremantle. As a continuation of Exercise AUSINDEX, the visit allowed for the strengthening of international relations between Australia and India, and gave the crew the opportunity to experience the wonderful culture India has to offer. There were many notable interactions between Newcastle and the Indian Navy which allowed each group to gain an appreciation for how the other operated.

Work to assist the Government of Cameroon to develop a national maritime security strategy is underway in Yaoundé (5-14 July). Senior Government officials from departments and agencies concerned with maritime matters are attending meetings with an IMO consultant with a view to setting up a maritime security committee. This committee will set the course for a draft programme and strategy to enhance the country’s maritime security. These efforts fall under International Maritime Organization (IMO)'s Strategy for Implementing Sustainable Maritime Security Measures in West and Central Africa.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stressed the need for concerted and collaborative efforts of all stakeholders toward the conservation and sustainable use of ocean resources for the protection of the environment and indeed the entire ecosystem. The Director General who made this appeal while speaking at a 2-day Regional Conference on Marine Safety and Fisheries Protection organized by the United Nations…

Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years. The approval is conditional on Eni getting other state and federal permits, which in past cases are generally granted once BOEM gives the green light. "We know there are vast oil and gas resources under the Beaufort Sea, and we look forward to working with Eni in their efforts to tap into this energy potential," said BOEM's acting Director Walter Cruickshank.

Turkey has sent two ships and a submarine to monitor a drilling vessel in the eastern Mediterranean Sea, the military said on Thursday, in a move likely to increase tension with Cyprus after reunification talks failed last week. The drilling work, a contractual obligation between Cyprus and France's Total, comes a week after the collapse of talks to reunify the divided island nation, split between ethnic Greek and Turkish Cypriots. Ankara has said it will take measures against Cyprus for engaging in gas and oil exploration around the island. It says that hydrocarbon resources in the waters around the divided island should belong to both sides. The military said it had deployed the frigates and a submarine to the eastern Mediterranean to "guarantee the security of oil transportation".