Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities
Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia Pacific Maritime and Offshore Group and is accompanied by senior associate Bernice Chia.“When we launched our commodities and shipping group last year we set our sights on creating one of the premier practices in the market,” said Steve Mahon, global managing partner – clients and strategy.
Aquaculture: Inside the De Maas’ Offshore Fish Farm
As attention increasingly turns to ocean health and sustainability, an innovative new fish farm solution was deployed earlier this year when the De Maas’ Semi-submersible Spar Fish Farm (SSFF) became the world’s first offshore farm installed at an open ocean location exposed to tropical storms. MTR recently visited – virtually – with co-founder Philip Schreven for insight on the design and operation particulars of their innovation.How did you became involved in this unique niche of the maritime industry?Mark van Leeuwen and I founded De Maas in 2007 as an offshore oil and gas services company.
Shipbreaking: 142 Sent to South Asia in Q1
142 ships were sold in the first quarter of 2019 to the beaches of South Asia where they were broken under conditions that cause irreversible damage to both human health and the environment.According to a quarterly update from the NGO Shipbreaking Platform, between January and March, three workers have lost their lives and four were severely injured when breaking ships in Bangladesh.On 28 January, according to local sources, Md Motiur Rahman lost his life while working at S. S. Green Ship Breaking yard, located on the beach of Chittagong, Bangladesh. Twenty days later, a fire broke out in the engine room on board the Greek-owned Polembros’ tanker S WARRIOR at Shagorika Ship Breaking Yard, killing workers Md Jamil and Bipul.No severe accidents were reported in India and Pakistan.
744 Ships Scrapped in 2018
744 large ocean-going commercial vessels were sold to the scrap yards in 2018, out of which 518 were broken down on South Asia beaches, accounting for a record-breaking 90.4% of the gross tonnage dismantled globally.According to new data released by the NGO Shipbreaking Platform, at least 34 workers lost their lives when breaking apart the global fleet. The Platform documented at least 14 workers that died in Alang, making 2018 one of one of the worse years for Indian yards in terms of accident records in the last decade.Another 20 workers died and 12 workers were severely injured in the Bangladeshi yards. In Pakistan, local sources confirmed 1 death and 27 injuries. Seven injuries were linked to yet another fire that broke out on-board a beached tanker."The figures of 2018 are shocking.
Kvaerner Announces First Quarter Results
Kvaerner announced its results for the three months ending March 31, 2002. Operating profit for the Kvaerner Group in the first quarter of 2002 amounted to $19 million, compared to a loss of $41.6 million in the previous quarter. Coming out of a difficult year in 2001, the Group has restored profitability. In the first quarter of 2002, three of the four business areas reported operating profits. Including $3.7 million of non-recurring costs related to the integration of former Aker Maritime units, operating profit in Aker Kvaerner was $9.7 million. Aker Maritime units were consolidated with effect from March. Kvaerner E&C (Engineering & Construction) reported an operating profit of $2.1 million, and Shipbuilding, $16 million.
