FSL Trust Making the Best of It in Q3 2013
Despite a caveat by auditors as to whether FSL Trust may continue as a going concern, due to the conditions of a loan covenant, the ship-owning trust has continued to ensure that its vessels have generated a return in the third quarter of 2013. The Trust suffered a 3QFY13 loss of US$8.9 million. This was partly due to recognition of an impairment loss of US$3.6 million caused by the lease defaults for two dry bulk carriers.
Shanghai's New Cruise Terminal Plans FTZ Link-up
Shangai's Baoshan District Committee aims to see the Wusongkou Interational Cruise Terminal become the flagship cruise terminal in China and even in Asia, by proactively connecting to the new Shanghai Free Trade Zone. Ultimately, the developers of the Wusongkou Interational Cruise Terminal, Baoshan District, say they intend to expand the definition of what is meant by 'cruise industry', by making the terminal the pioneer of the cruise industry in China.
'Pirates Plunder W.Africa Oil & Gas Riches' Says Analyst
West Africa is experiencing a surge in piracy, with well-organised hijackers targeting the region's growing oil and gas industries, writes national security expert Dr James Jay Carafano in 'World Review'. Although efforts to combat crime at sea have been having an impact - for example hijackings off Somalia fell by half in 2012 compared with 2011 with only 14 ships successfully boarded - the International…
ISS Appoint Romi Kaushai Asia Pacific Operations V-P
International maritime services provider, Inchcape Shipping Services (ISS), has appointed Romi Kaushal as Executive Vice President of Operations for their Asia Pacific region. With extensive experience in operations and shore based management, Romi has worked in senior commercial and operational positions across the globe. He was also a Principal Consultant for KPMG, CEO for the Emirates Shipping Line in Hong Kong and has held shipping roles in Hamburg, New York, Dubai and Montreal.
UASC's New Mega-Container Ships to Have Kongsberg 'Full Picture'
Kongsberg Maritime has secured contracts with a value of NOK 150 Million to deliver fully integrated navigation and automation systems for a series of 10 container vessels ordered by United Arab Shipping Company (UASC) and under construction at HII. The five 14,000 TEU class and five 18,800 class vessels will be among the largest, most technologically advanced and environmentally friendly containerships ever built.
China Shipyards Secure US$380-Million Contracts for COSCO
1. COSCO (Dalian) Shipyard Co. Ltd has secured contracts from a Bermuda company for two LeTourneau Super 116E jackup drilling rigs, scheduled for delivery in 1H2016 and 2H2016 respectively. The same buyer has also secured options for two additional jackup drilling rigs. 2. COSCO (Zhoushan) Shipyard Co. Ltd has been contracted to build a dry bulk carrier of 64,000dwt for a European buyer, with delivery scheduled in the second half of 2014.
Navy's 'USNS Bowditch' Checking Philippine Pilotage Waters
As U.S. Navy assets steam towards the Philippines to provide humanitarian assistance and disaster relief to the victims of Typhoon Haiyan, Navy hydrographers are busy charting safe passages through potential navigation hazards created by the receding storm surge. 'USNS Bowditch', a Navy survey vessel, was one of the first ships on station and began immediately surveying the approaches to San Pedro Bay.
Global Ship Lease Profits Slip in Q3 2013
Container ship charter owners Global Ship Lease (GSL) announce its unaudited results for the 3 months and 9 months ended September 30, 2013. The 17 vessel fleet generated revenue from fixed rate long-term time charters of $36.1 million in the three months ended September 30, 2013, down $3.4 million on revenue of $39.5 million for the comparative period in 2012. Reported revenue of $36.1 million for the third quarter 2013.
RCI Cruise Ship Propulsion Repairs Necessitate Docking
Owners, of the giant 'Allure of the Seas', Royal Caribbean International say that a mechanical issue obligates performance of unscheduled repairs to their cruise ship 'Allure of the Seas', and the repairs will take place at Grand Bahama Shipyard, in Freeport, Bahamas, the week of February 24, 2014. As a result of coming out of service RCI say it will be necessary to cancel the February 23, 2014, sailing of Allure of the Seas…
ABB to Talk Productivity, Energy Efficiency, Investment, at Shangai's Marintec 2013
The power of integration - Sevan project, a case study. ABB will outline a complete solution for power, propulsion, automation and vessel control, including advances in power technology…
US Cruise Passenger Consumer Rights Bill Introduced to House
Congressman John Garamendi (D-Fairfield, CA), the Ranking Member of the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation, has introduced H.R.
Conrad Industries' Performance Rides High in Q3 2013
Morgan City, Louisiana-based Conrad announce positive third quarter 2013 results, and is to pay a special cash dividend of $2.00 per share. For the quarter ended September 30…
Maersk Line Ltd. Tap J. Russel Bruner President & CEO
The Board of Directors of Maersk Line, Limited (MLL) has named J. Russell Bruner the next President and CEO of Maersk Line, Limited. Mr. Bruner will succeed John F.
Marine Task Force Conclude West Africa Engagements
An International Marine Task Force comprised of U.S., U.K., Dutch and Spanish Marine units disembarked from the Royal Netherlands Navy landing platform dock HNLMS…
Waterway Reopens after Barge Sinks
The U.S. Coast Guard has reopened a portion of the Mississippi River near Baton Rouge after it was partially closed due to a barge that sank Monday. A portion of…
Today in U.S. Naval History: November 14
Today in U.S. 1846 - Naval forces capture Tampico, Mexico. 1910 - Civilian Eugene Ely pilots first aircraft to take-off from a ship, USS Birmingham (CL-2) at Hampton Roads, Va. He lands safely on Willoughby Spit, Norfolk, Va. 1941 - Order to withdraw Marines at Shanghai, Peiping, and Tientsin, China. 1944 - Carrier aircraft attack Japanese shipping in Philippines sinking five ships and damaging one.
Port of Hamburg Maintains 3Q Growth
Seaborne cargo throughput in Germany’s largest universal port in the first three quarters of 2013 totaled 103.9 million tons (+6%). The July-September trend, especially, ensured a brilliant throughput total: in the third quarter 35.8 million tons crossed Hamburg’s quay walls, giving the Port of Hamburg a throughput gain of 11.1%. After advances in the first quarter of 0.6% and of 6.3% in the second, the continuous upward trend in its cargo throughput was therefore more than maintained.
Klüberbio Lubricants EU Ecolabel Approved
KlĎ‹ber Lubrication, a worldwide manufacturer of specialty lubricants, announces that its Klüberbio EG 2 gear oil for thrusters and Klüberbio RM 2 stern tube oil now carry the European Ecolabel…
SENER Presents Design Paper at SNAME Meeting
SENER has attended the 2013 SNAME (Society of Naval Architects and Marine Engineers) annual meeting from November 6-8 in Bellevue, Washington. During the event, technical sessions took place as part of the Ship Production Symposium, where engineers from the shipbuilding industry presented important innovations and advances in the state of the art for shipbuilding. Verónica Alonso, North America Area Manager from SENER Marine Business Unit…
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