Survey: Ship Operating Costs to Rise 3-4%
A new survey from Moore Stephens finds that vessel operating costs are expected to rise by more than three% in both 2013 and 2014, unwelcome news to shipowners that…
Maersk Group Appoint Divisional CEO's
Morten Engelstoft has been appointed CEO of Services & Other Shipping in Maersk, as well as of Maersk Tankers to replace Hanne B. Sorensen who has been appointed CEO of Damco. The four businesses in Services & Other Shipping (Damco, Maersk Tankers, Maersk Supply Service and Svitzer) will remain individual businesses with their own CEO’s reporting to Morten Engelstoft, who will report directly to Group CEO Nils S. Andersen.
Spent Nuclear Waste Lurks Beneath Arctic Ice
Large-scale Soviet nuclear tests, dumping of spent fuel and two scuttled nuclear-powered submarines are a major source of pollution in the Arctic ocean, reports 'The Moscow Times'. There are 17,000 containers and 19 vessels holding radioactive waste submerged in the Kara Sea, as well as 14 nuclear reactors, according to a report passed by Russia to the Norwegian authorities in 2012, says 'The Moscow Times' citing Bellona, an environmental group that acquired a copy of the document.
ISC Reports Negative Impacts of Sequestration in Q3 2013
International Shipholding Corporation (ISC) reported a net loss of $2.2 million for the three months ended September 30, 2013, which included a $2.0 million reduction from the impact of sequestration on the U.S. Maritime Security Program and $1.6 million charge from the refinancing of various U.S. Flag vessel collateralized loans into one senior $95 million debt facility. Completed a refinancing of its U.S.
Electronic Spectrum: 'We Need to Know What Normal Is', Says Navy CNO
Chief of Naval Operations (CNO) Adm. Jonathan Greenert was the keynote speaker at a national electronic warfare convention held in D.C. hosted by The Association of Old Crows (AOC), a non-profit organization that promotes all aspects of electronic warfare within the Department of Defense and Industry. Speaking to more than 500 military and civilian electronic warfare and information operations professionals…
IMO Sec-Gen to Address Upcoming Denmark CSR Conference
Danish Shipowners' Association in collaboration with the World Maritime University; BIMCO; The Nippon Foundation and the Japanese International Transport Institute…
UK Shipyard Invests in Cornwall Apprentices
5 new apprentices have started work at A&P Falmouth shipyard, underlining the company’s long-term commitment to Cornwall (in the extreme Southwest of England) and the future of the dockyard there. The apprentices beat off stiff competition from almost 70 applicants to be awarded the opportunity with A&P, one of the biggest commercial ship repair companies in the UK. They are electricians Dave Blizzard…
P&I: UK Club Increases 2014 Renewal Rate 10%
The UK Club Board has decided on a general increase for 2014 renewal of 10 per cent. This across the board premium rating increase is in addition to any increase in the cost of the International Group reinsurance. Overall, the Club’s financial position remains strong with the free reserves and capital standing at US$473 million and total assets of US$1.6 billion as at 20 August 2013. Since these figures were recorded at the half year…
International Bunkering Acquires Glander & Re-Brands
Leading bunker and lubricant trading company, International Bunkering, has acquired Glander International, one of the oldest bunker brokering companies in the US.
