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Venezuela and Cuba Sign Economic Integration Agreements

Venezuela and Cuba signed 16 new cooperation agreements in a move that further boosts the Bolivarian Alternative for the Americas (ALBA), a regional economic and social integration initiative launched by the two countries. Venezuelan President Hugo Chavez and Cuban Vice President Carlos Lage attended the signing ceremony held in Caracas. The accords are far reaching in the fields of transport, finances, agriculture, mining, industry, tourism and electricity, according to reports. The agreements also include the possibility of setting up two joint ventures in transportation, particularly shipbuilding and port modernization. The production of stainless steel and ferrous nickel was part of an agreement in the field of mining, while in communications an underwater cable link between the two countries including a satellite system and networks is envisioned. Source: Cuban News Agency


China’s Growth Could Boost Shipping

China’s shift towards a domestic consumer demand-oriented economy could provide a significant boost to the global shipping industry, as the world’s second largest economy targets more sustainable growth. “2013 will be another peak year of new vessel deliveries. Oversupply of capacity is still an obstacle for the shipping industry to overcome, but with the improvement of the world economy, the shipping sector is expected to experience moderate growth


EU Bank Agrees Fos 2XL finance deal

Upon completion of the project, the creation of two new terminals due on stream in 2010, capacity will increase from the current 1m teu per year to 2.5m teu. Some 400 direct jobs will also be generated in addition to several thousand in allied sectors. Backing from the BEI – the European Union finance institution – acknowledges that the scheme meets several criteria for the development of European transport networks. During the signing, M


New Sources of Finance Needed for EU Transport Infrastructure

The Transport Committee believes that continued financial inaction on the transport infrastructure may put economic growth at risk. In a report adopted, it calls on the Commission to table proposals on possible new and alternative ways of financing, in particular, the Trans-European Transport Networks (TEN-T). Since the priority investments have been slower than expected, key projects should now be selected for their financial feasibility.


Cyprus Financial Crisis: Effect on Shipping Interests

Cypriot Transport Minister, Tasos Mitsopoulos, states the nation's shipping registry will not be affected by turmoil in banking sector. The Minister downplayed the impact of Cyprus's banking crisis on the local shipping industry, pointing out that none of the island's banks are active in ship financing, reports Tax-News. Despite Mitsopoulos's assurances, many shipping companies' bank deposits in Cyprus are expected to be heavily impacted by the banking sector developments


China, Singapore Partner in Shipbuilding

According to an April 13 report from the People’s Daily Online, the China Shipbuilding Industry Corporation (CSIC) and Singapore's Pacific International Lines (PIL) opened a joint venture - CSIC Pacific. Speaking at the opening of the company, Lim Hwee Hua, Singapore 's Minister in Prime Minister Office and Second Minister for Finance and Transport, said that this CSIC-PIL's partnership is reflective of the close links between China and Singapore.


Spinnaker Reports Buoyant Job Market

Maritime recruitment specialist Spinnaker Consulting has reported that despite general reports of a slowdown in the world economy, recruitment in the shipping, offshore and transport markets remains buoyant. Writing in the latest issue of Changing Course, Spinnaker's monthly e-mail newsletter, managing director Phil Parry says, "Contrary to most industry forecasts, 2002 does not look like being such a bad year for the shipping, offshore and transport job markets


PVA:Moving Cargo, Passengers to the Water

As the U.S. Department of Transportation works to develop transportation policies to meet 21st Century needs, perhaps the most vexing problems faced are those associated with traffic congestion on the Interstate highways which parallel our Atlantic, Pacific and Gulf coastlines. Interstate 95, I-5 and I-10 carry automobile and truck traffic far beyond their design capacities. In the major metropolitan areas, which these highways intersect


New Shipping Risk Management Course

The Baltic Exchange and the Centre for Shipping, Trade & Finance at London’s Cass Business School unveiled plans today (10 March) to deliver a series of executive courses focusing on the management of a range of financial risks in the shipping markets. The two day course “Shipping Risk Management” will cover freight, bunker, ship price, credit, foreign exchange and interest rate risk and will be held in London, Hamburg, Athens, Hong Kong and Singapore during 2005


Global Trade Set To Benefit From ICC Report

  Released yesterday, the International Chamber of Commerce (ICC) Trade Register Report 2014 provides empirical evidence that, in all forms, trade and export finance is a low risk bank financing technique – further supporting ICC’s advocacy of trade finance as a strong contribution to economic recovery and growth. This evidence has the potential to alter attitudes towards trade finance, and therefore contribute to the growth of both global trade and the global economy.


Mercury Marine Launches Repower Financing

Randy Caruana

Mercury Marine launched a new repower finance program that aims to make it easier for consumers to get the engine performance they want with flexible financing for a broad range of buyers. “Easy and attractive financing makes the sale for many boaters,” said Randy Caruana


USNS Fall River Delivered by Austal USA

USNS Fall River: Photo USN

The Navy informs it has accepted delivery of Joint High Speed Vessel, the future 'USNS Fall River' from the Austal USA shipbuilder. The delivery marks a major milestone, the official transfer of the vessel from the shipbuilder to the Navy. USNS Fall River is the U.S


Tanzania Receives $565m to Expand Port

Tanzania signed a $565 million deal on Friday with the World Bank and other development partners to expand its main port of Dar es Salaam, part of plans to boost the east African nation's role as a regional trade hub. Tanzania wants to lift capacity to 28 million tonnes a year by 2020 from the


Sea Trucks Signs $130m Facility for Offshore Newbuild

Jascon 18 at Kwong-Soon shipyard

Sea Trucks Group Limited, an international oil and gas marine contractor with a track record in the key oil and gas producing regions, particularly West Africa, announced a $130 million facility to finance the completion of Jascon 18 has been signed.


Baker Hughes Names Kimberly Ross as CFO

Kimberly A. Ross

  Baker Hughes Incorporated has today announced appointment of Kimberly A. Ross, as Senior Vice President and Chief Financial Officer (CFO) effective October 22, 2014. Ross currently serves as Executive Vice President and CFO of Avon Products, Inc


MN 100: Kirby Inland Marine

_BKR1997.jpg

55 Waugh Dr, #1000 Houston, TX 77007 Tel: (713) 435-1000   Email: customerservicerep.klm@kirbycorp.com Website: www.kirbycorp.com President: William G. Ivey The Company: Kirby Corporation is a premier tank barge operator in the United States


Indian Shipbuilding on the Road to Recovery

“Several new building opportunities are likely to come up in the near future as the government plans to shift at least 15% of the cargo transported by road and rail to the coastal and  inland waterways.”

Indian shipbuilders buoyed by a renewed political will, a plan and funding to help the industry recover. It has been a long wait for the 28 shipbuilders in India to finally catch sight of  opportunities to sail back into the better financial waters


IMO Joins International Ebola Task Force

IMO logo

The International Maritime Organization (IMO) informs it has joined the international ad hoc Ebola Travel and Transport Task Force and is working with other United Nations agencies and non-governmental organizations to monitor the situation and provide timely information in response to the


State of Green Markets Green Blue Denmark

Blue Denmark is also green

  Blue Denmark is also green. Therefore, Denmark’s official green brand, State of Green, is now launching a new theme on its website focusing on green maritime solutions. As a nation, Denmark has become well-known internationally in the green maritime field and now we intend to


IMO Joins International Ebola Task Force

The International Maritime Organization (IMO) has joined the international ad hoc Ebola Travel and Transport Task Force and is working with other United Nations agencies and nongovernmental organizations to monitor the situation and provide timely information in response to the outbreak of the


Denmark's 'State of Green' Spotlights Green Maritime Solutions

Approaching ship: Photo Blue Denmark

Denmark’s official green brand, State of Green, is launching a new theme on its website focusing on green maritime solutions, informs the Government's 'Blue Denmark'. As a nation, Denmark has become well-known internationally in the green maritime field and now it intends to become even


Panama Canal Infrastructure to be Valued by VRC

Panama Canal: File photo

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams, power plants and other structures of the canal for insurance purposes. This is VRC’s second valuation engagement with the


Norwegian to Buy Prestige Cruises in $3b Deal

Photo: Prestige Cruises

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion deal to expand its high-end luxury cruise offerings. Shares of Norwegian Cruise, the world's third-largest cruise operator


USCG Medevacs Mariner in Port Alexander, Alaska

US Coast Guard

  The Coast Guard medevaced an 87-year-old female reportedly suffering from complications associated with a lower back injury aboard the fishing vessel Annie B in Port Alexander, Sunday evening. An Air Station Sitka MH-60 Jayhawk helicopter crew hoisted the injured woman and transported


Dentressangle Acquire U.S. 3PL Provider Jacobson

Warehouseman at work: Photo Dentressangle

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider, Jacobson Companies from Oak Hill Capital Partners. The transaction was valued at $750 million (€560 million) in cash on






 
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