The Federal Maritime Commission (FMC) issued an order stating that, under the Shipping Act of 1984 and its implementing regulations, a licensed ocean transportation intermediary (OTI) may not use unlicensed and unbonded agents to provide non-vessel-operating common carrier (NVOCC) and ocean freight forwarder services to the public. The OTI had petitioned for a declaratory order allowing such an exception, citing the evolving business conditions. The majority of the Commission denied the petition, noting that it is not aware of any legislative history or case law that would indicate the Congress intended to distinguish between persons would act as OTIs (and must be licensed and bonded) and persons who provide OTI services (and could avoid the license and bonding requirements). One Commissioner dissented, arguing that, at the very least, the FMC should examine the issue in greater depth and seek public comment. Docket No. 06-08 (HK Law).
The Environmental Protection Agency (EPA) issued a notice stating that, effective June 1, refiners will begin producing low-sulfur diesel fuel for use in ships. Initially, the sulfur content may not exceed 500 parts per million (ppm). The eventual goal is a maximum sulfur content of 15 ppm. Source: HK Law
Slovenian shipping firm Intereuropa fell over four percent by midday trade on Wednesday amid fears that the government may not approve its proposed merger with port operator Luka Koper. At one point during the day, shares of Intereuropa were down 4.58 percent at 2,480 tolars ($13.03) on volume of 5,526 shares, although the company earlier in the morning reported a 24 percent in group nine-month net profit. Traders said there was no explanation for the drop other than the possibility that
The Tokyo MOU (Memorandum of Understanding) on Port State Control issued a Notice stating that, effective 1 January 2005, it is establishing a Detention Review Panel. The purpose of the Panel is to review, at the request of a flag state or recognized organization, specific port state control inspections undertaken by Tokyo MOU members. If the views of the Panel support the flag state or the recognized organization, the port state will be requested to reconsider its decision
Trico Marine Services, Inc. announced today the pricing of its previously announced private offering of $250.0 million aggregate principal amount of 8 7/8 % Senior Notes due 2012. The notes were priced at 99.196 to yield 9.0% Trico Marine expects to use the net proceeds of the offering of the senior notes due 2012 to purchase its existing 8 1/2% senior notes due 2005 pursuant to an outstanding offer to purchase such notes and to pay related fees and expenses.
Newport Beach to Ensenada boat race entrant 'Aegean' destroyed, 4 dead, may not have been seen by larger vessel Coast Guard investigators working to determine what caused the destruction of the 37-foot sailboat off the Mexican coast, consider that there's a possibility that no eyewitnesses remain. All four crew members of the Aegean were killed. And based on the level of destruction — small pieces of the boat were found spread over a wide area — it may be no one aboard the
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index fell 53 points to 5,284. "Owners have been keen to get their vessels fixed well before the office Christmas party to keep them trading over the festive period, which has been gratefully grasped by charterers who got the discounts they desired," SS&Y said. "This may not be the case in January when the balanced positional market will have little encouragement for owners to discount asking prices
The U.S. Coast Guard has issued guidance to its personnel regarding vessel boarding safety when conducting boardings of large commercial vessels as part of the homeland security mission. The guidance cautions Coast Guard personnel about the need for safety briefings prior to any such boarding, the risks of explosive vapors, and the risks inherent in confined space entry. It notes that many Coast Guard personnel may not have received specific training concerning the risks related to this new
The U.S. Coast Guard has established security zones around passenger vessels and vessels carrying Certain Dangerous Cargo (CDC) while they are in the navigable waters of the Captain of the Port (COTP) Hampton Roads zone. When within 500 yards of such vessels, other vessels must operate at the minimum speed to navigate safely. Other vessels may not operate within 100 yards of such vessels. The rule comes into effect immediately. 69 Fed. Reg. 40768 (HK Law).
The North American Emission Control Area (ECA) under MARPOL Annex VI will become enforceable on 1 August 2012 On the operative day the sulfur content of the fuel oil used on board ships operating within the ECA may not exceed 1.00 percent m/m (10,000 ppm). Ships will be required to maintain and, if requested, make available to Port State Control authorities: • Bunker delivery notes (for vessels 400 gross tonnage and above)
Mitsui O.S.K. Lines, Ltd. (MOL) said the MOL Group will provide free transport of relief supplies by containerships to the central Philippines devastated by the recent typhoon. The company has already donated $30,000 to emergency relief efforts.
Aecon Group Inc. announced that it has completed its previously announced public offering of $150 million aggregate principal amount of 5.5% convertible unsecured subordinated debentures due December 31, 2018. The offering of debentures was completed on a bought deal basis through a syndicate
The International Chamber of Shipping (ICS) – the worldwide trade association for shipowners – has made a written submission to the United Nations International Maritime Organization (IMO) suggesting a possible way forward with respect to complex discussions about additional global
Global Ship Lease, Inc. (GSL) announced that it plans to issue an aggregate principal amount of up to $400,000,000 of first priority secured notes due 2021 in a private placement. The notes will be fully and unconditionally guaranteed, jointly and severally
Boatracs Inc., a provider of integrated satellite communications and software solutions to the maritime industry, said it will conduct live booth demonstrations of two new maritime applications at the International Workboat Show in New Orleans on October 9-11, 2013.
With the proposed introduction of the EU’s monitoring, reporting and verification of carbon dioxide emissions from maritime transport (MRV), the maritime industry is investigating the various allowable options to record and verify its CO2 footprint.
At the recent global Women's International Shipping & Trading Association (WISTA) annual meeting and conference held in Montreal, Jeanne Grasso, a partner at Blank Rome LLP, was elected to the Executive Committee of WISTA International. Jeanne has been the President of WISTA USA for the past
The robotic tube cutting system developed by SMT Systemtechnik GmbH passed its first practical test as the computer controlled machining system was delivered midyear to the Polish shipyard Energomontaz Polnoc Gdynia (EPG). Specializing in ship repair and ship conversion
Insurance: Ship Repairers and Marine Equipment Installers Operating on both land and water, ship repairers and marine equipment installers tackle a variety of tasks from general maintenance and repair, to upgrading electrical systems, to installing state-of-the-art navigational systems
Demand for 40ft high-cube containers continues to grow, creating stowage problems for ocean problems for carriers and entities requiring an accurate assessment of demand, according to Drewry. This week’s Container Insight Weekly from Drewry highlights the growing share of 40ft
Navios Maritime Acquisition Corporation announced that the company and Navios Acquisition Finance (U.S.) Inc., its wholly owned finance subsidiary, intend to offer through a private placement, subject to market and other conditions, approximately $600 million of first priority ship mortgage
Raymond Viguerie and, more recently his son Peter, have been building pushboats at a yard on a bayou just off the Itntacoastal Waterway that skirts the Gulf of Mexico. Their Intracoastal Ironworks sits between the bayou and the Bourg-LaRoxe Highway has recently expanded into the neighboring
Webb Institute, a 4-year college specializing in Naval Architecture and Marine Engineering, is pleased to announce that seniors Henry Jansen, from Bayville, NY, and Elli Wunder from North Bend, WA have been named the recipients of the 2013 – 2014 McMullen Family Foundation Scholarship.
Optimizing both a fleet of workboats and the business model that makes all of that possible is probably the highest priority item on your plate, every day. And, as you will soon discover within the pages of the latest edition of MarineNews, fleet optimization can mean 10 different things to 10
Nordic American Tankers Limited (NAT) report significant improvement in results in the third quarter 2013 over 2Q2013. TCE earnings were about $16,500 per day versus about $8,000 per day in the preceding quarter. Key points in the report