In Gazprom Deal, JPMorgan Takes on Business
When JPMorgan Chase & Co agreed to lead a $700 million bond offering for Russian gas producer Gazprom OAO, it was doing business that some U.S. banks are afraid to doâŠ
Natural Gas Workers in Peru May Strike
Natural gas workers in Peru, South America's biggest exporter of liquefied natural gas, said on Friday they had pulled out of wage talks with Argentine energy companyâŠ
USCG Hoists Injured From Bimini Superfast Ferry
A helicopter crew from Coast Guard Air Station Miami hoisted an injured man Wendesday night from the Bimini Superfast ferry approximately 10 miles off the coast of Bimini, the Bahamas.
Paddling Boat Race Around the Island
A paddling boat race will take place around Hong Kong Island on 16 November 2014 (Sunday). About 20 canoes and 6 rowing boats are expected to participate in the race.
Fortis' Perry to Present at EEI Conference
Fortis Inc. President and Incoming CEO, Barry Perry, will present at the 49th Edison Electric Institute (EEI) Financial Conference in Dallas, Texas on Thursday, November 13âŠ
Aker Not to lay off Staff
Norwegian broadcaster NRK today reported that Aker Solutions' fabrication yard in Egersund, Norway, will be letting 1,500 temporary workers go after the new year.
Launch of OCEAN FALCON in Pasajes
On November the 6th, Zamakona Yards Group successfully completed the launch of the ship âOcean Falconâ at its facilities in Pasajes (San Sebastian, northern Spain).
Hapag-Lloyd Update on Congestion in Manila.
The ongoing congestion in Manila has not improved. Consequently, the situation resulted in cumulative delays and build up of containers at the transhipment port in Singapore.
MHI Endowing Courses in Nuclear Engineering at Hanoi University
A ceremony was held today at Hanoi University of Science and Technology (HUST), in Hanoi, Vietnam, to mark the commencement of the fifth year of courses endowed by Mitsubishi Heavy Industries, Ltd.
Sheikh Ahmed receives âMaritime Visionary Awardâ
HH Sheikh Ahmad bin Saeed Al Maktoum received The Maritime Standard Special âMaritime Visionary Awardâ in recognition of his exceptional foresight in supportingâŠ
Senior Chief Receives Bob Feller Award
A senior chief petty officer assigned to Nimitz-Class aircraft carrier USS George Washington (CVN 73) received the Bob Feller Act of Valor Award in a ceremony at the Navy Memorial in WashingtonâŠ
Routine USACE Levee Work Halts Mississippi Traffic
Fully loaded barges headed to export market abruptly halted. Waterways Council, Inc. (WCI) and its agricultural and other commodity shipper members and towboat operators are reacting to the U.S. Army Corps of Engineersâ decision to perform, over the next 13 days, routine work that involves laying concrete mats that protect the river bank for flood protection. This requires traffic restrictions for towboats moving barges and other vessels while the mats are laid.
South Korea Votes to Disband its Coast Guard
South Koreaâs national assembly has voted to pass legislation effectively disbanding its coast guard after the organization fell under heavy criticism in wake of Aprilâs Sewol ferry capsizing which killed more than 300, most of whom were high school students. South Korean police will take over the coast guardâs responsibilities as a new safety agency is formed. Extensive criticism targeted the coast guardsâ rescue efforts as public opinion deemed its performance highly inadequate.
COSCO Chairman Expects Shipping Slump to Persist
The global shipping market is unlikely to see a recovery during the next two years as it grapples with an oversupply of vessels, the chairman of China's largest shipping group said on Wednesday. The sector has been battling overcapacity since the 2008 financial crisis because new vessels ordered before the downturn have flooded the market, dragging down rates and hitting Chinese ship builders hard.
Hawaiian Market Growth Boosts Matson Q3 Results
Matson, Inc., a U.S. carrier in the Pacific, announced its results for the third quarter of 2014, in which it reported a net income of $21.5 million, or $0.50 per diluted share, compared with $17.2 million or $0.40 per diluted share in 2013, while consolidated revenue for the third quarter 2014 was $441.8 million compared with $415 million in 2013. For the nine-month period ended September 30, 2014âŠ
Geo Shipyard Delivers Catamaran Survey Vessel
Geo Shipyard, Inc. has built and delivered a new Survey Catamaran Vessel, Blake, for David Evans and Associates Inc.âs Marine Services Division in Gulfport, Mississippi. The newbuild, delivered in October, features wave-piercing bows, Tier 3 Cat diesels, twin 55-kW generators, a full suite of survey instrumentation, an A frame for towing astern, a DTI survey winch and a stainless steel hydraulicallyâŠ
Bell Recovered from Wreck of HMS Erebus
The ship's bell recovered from the recently discovered Franklin Expedition shipwreck, HMS Erebus, was unveiled by the Honorable Leona Aglukkaq, Minister of the Environment and Minister responsible for Parks Canada. The artifact was recovered during dives and archaeological investigation by Parks Canada's underwater archaeology team in September. The bell was found on the deck adjacent to the ship's displaced windlass (a form of anchor winch), above which it was originally mounted.
Keenan Named VP at Gibbs & Cox
Gibbs & Cox, Inc., an independent naval architecture and marine engineering firm, announced the appointment of Patrick J. Keenan as Vice President, Platform Solutions Group.
MARAD Extends Voluntary Intermodal Sealift Agreement
The U.S. Maritime Administration (MARAD) has extended the Voluntary Intermodal Sealift Agreement (VISA) program until October 1, 2019. The VISA program creates a partnership between the U.S.
Fuel Scandal Sends Traders Scrambling, Investors Eye Lawsuits
Traders and shipping companies scrambled to source fuel and take over supply contracts on Friday after Danish marine fuel supplier OW Bunker said a suspected fraud at its Singapore subsidiary had pushed it to the brink of bankruptcy. The alleged fraud at Singapore-based subsidiary Dynamic Oil Trading is potentially one of the biggest financial market scandals to hit the city state since 2004, when China Aviation Oil (Singapore) ran up oil futures losses of $550 million.
