S. Korea Okays Salvage Sunken Sewol Ferry
South Korea has approved plans to salvage a sunken ferry that capsized last year in the Yellow Sea killing over 300 people, Public Safety and Security Minister Park In-yong said.
South East Asia Still Hotspot for Piracy
One coastal tanker is hijacked every two weeks on average in Southeast Asia making it the most dangerous seas, the latest piracy report from the International Maritime Bureau (IMB) has warned.
Banks: Vessel Financing Increasingly Based on Energy Efficiency
Banks are beginning to recommend efficiency retrofits to shipowners, and are using energy-efficiency data in deciding which vessels they financeāand which they wonātā¦
Transocean Appoints Jeremy D. Thigpen President & CEO
The CFO of Houston-based National Oilwell Varco Inc. (NOV) is stepping down to become CEO of Transocean Ltd. (RIG), one of NOVās largest customers. Effective April 22ā¦
FMC Beats 1Q Profit Forecasts
The Houston-based subsea specialist FMC Technologies Inc. (FTI) reported first-quarter earnings of $147.6 million, beating Wall Street expectations. The averageā¦
ConocoPhillips Weighs Sale of North Sea Assets in Norway
ConocoPhillips Inc is weighing sale of some of its North Sea assets in Norway which may fetch as much as $1 billion, Bloomberg reported, citing sources familiar with the matter.
FMC Chairman Addresses PEMA Ports Program
![Mario Cordero (Photo: FMC)](https://images.marinelink.com/images/maritime/w100h1500/mario-cordero-photo-fmc-43118.jpg)
U.S. Federal Maritime Commission (FMC) Chairman Mario Cordero addressed the Professional Environmental Management Association (PEMA) at its Annual Ports Program held in Seal Beach, California. The Chairman spoke on the subject of congestion at U.S. ports and the vital role of sustainable development of ports and related transportation infrastructure. Chairman Cordero described causes of, and the need for solutions to congestion, with a focus on the Ports of Los Angeles and Long Beach.
UN Security Council Concerned by Mediterranean Migrant Smuggling
The United Nations Security Council expressed grave concern on Tuesday at the growth in people smuggling in the Mediterranean Sea and deplored Sunday's deadly shipwreckā¦
UKHO Launches New ADMIRALTY Digital Radio Signals
![Image: UKHO](https://images.marinelink.com/images/maritime/w100h1500/image-ukho-43117.jpg)
ADMIRALTY List of Radio Signals, a comprehensive source of information on all aspects of maritime radio communication, is now available in digital format to make it easier to search and update than paper publications. Together with ADRS 2, which provides positional and timekeeping references to help ensure ships are in the right place at the right time, and ADRS 6, which provides maritime radio communications information for 3ā¦
Gulf Oil Spill Restoration Projects Proposed
![Aerial view of Louisiana shoreline (Photo: NOAA)](https://images.marinelink.com/images/maritime/w100h1500/aerial-view-of-louisiana-shoreline-43116.jpg)
The trustees and BP have identified approximately $134 million in projects to be included in the next proposed phase of early restoration. This milestone comes five years after the Deepwater Horizon oil spill in the Gulf of Mexico. The 10 proposed projects would benefit sea turtles, birds and fish; increase recreational opportunities; and improve nearshore and reef habitats. It is anticipated thatā¦
Oil Majors Push Offshore Players for 30% Cuts
![Tidewater, Inc.ās Dean Edward Taylor plows full steam ahead.](https://images.marinelink.com/images/maritime/w100h1500/tidewater-incs-dean-edward-taylor-43114.jpg)
30%Thatās the minimum level of capital expenditure cuts facing owners and operators of offshore rigs, vessels and various support services, as they scramble to keep equipment working and their heads above water during one of the worst oil downturns in 30 years. From a high of $108 per barrel in June of last year, prices plummeted roughly 60% as supply surpassed weakening demand, crashing in November to around $44 a barrel.
Iranian Flotilla a Factor in US Warship Deployment off Yemen
![U.S. Navy photo by Anna Van Nuys](https://images.marinelink.com/images/maritime/w100h1500/us-navy-photo-by-anna-43110.jpg)
The Pentagon said on Tuesday the presence of a large convoy of Iranian cargo ships in the Arabian Sea was one factor in the U.S. decision to deploy additional warships in the waters off war-torn Yemen but was not the primary reason for the move. Army Colonel Steve Warren, a Pentagon spokesman, also said he did not believe Navy warships patrolling the region had been in direct contact with the Iranian flotilla of nine cargo ships.
Federal Funding for LNG Conversion Projects
The U.S. Maritime Administration (MARAD) announced that $900,000 in federal funding is now available to support the conversion of existing U.S. flag vessels to liquefied natural gas (LNG) propulsion.
Philippines Accuses China of Turning Water Cannon on its Fishing Boats
Filipino activists denounced China's coast guard on Tuesday for turning water cannon on Philippine fishing boats in disputed waters, near where hundreds of Filipinoā¦
Response to Grounded Bulker Ongoing
![The motor vessel Juno, a 621-foot bulk carrier, sits aground under Thousand Islands Bridge near Alexandria Bay, N.Y., April 20, 2015. The vessel ran hard aground after suffering a steering casualty, and at this time there is no pollution reported. (U.S. Coast Guard photo)](https://images.marinelink.com/images/maritime/w100h1500/the-motor-vessel-juno-a-43108.jpg)
UPDATE: U.S. Coast Guard responding to vessel aground in St. The U.S. Coast Guard reports it is continuing its response Tuesday to a 621-foot bulk carrier which ran aground in the vicinity of Wellesley Island in the St. Lawrence River, New York, Monday while transiting inbound from the St. Lawrence Seaway to the Port of Toronto. The Bahamian-flagged motor vessel Juno, carrying a load of sugar, is aground and taking on water in one of the forward ballast tanksā¦
Edda & its Five Star Offshore Accommodations
![Over eight months during 2012 ā 2013, we operated the Edda Fides in the Bass Strait between south east Australia and Tasmania on the KTT (Kipper Tuna Turrum) project, the largest domestic gas development on the eastern seaboard of Australia at the time. The charterer was McDermott Australia and the client was Esso Australia where we served as accommodation unit for up to 400 workers doing upgrade on the Marlin B platform. The project started in June 2012 and was successfully completed in Feb](https://images.marinelink.com/images/maritime/w100h1500/over-eight-months-during-2012-43109.jpg)
Petter Sundet, Captain of Edda Fortis, discusses with Maritime Reporter & Engineering News the evolution of top-notch accommodation in the offshore environment. Please provide a brief bio. Specifically, how did you come to a career in the marine industry, and ascend to your current position? I first went to sea when I was 16 years old, to see the world. The first years I sailed as a deck hand, thenā¦
Simulation & Ice Navigation Training
In a anticipation of the growing need for deck officers and masters experienced in operating in ice covered waters and as evidenced by the relatively rapid increaseā¦
Logistics and Warehouse Insurance: Understanding its Complexity
![Virginia Cameron](https://images.marinelink.com/images/maritime/w100h1500/virginia-cameron-43102.jpg)
In October 2013, a fire blazed through Brazilās Santos port, destroying six warehouses and the 180,000 tons of raw sugar inside Sugar Company Copersucarās terminal. The fire hit all of the sugar giantās warehouses at the port and left many exporters holding contracts for sugar with an empty bag. Following the fire, Copersucar declared āforce majeureā to third party exporters who had contracts to ship the sugar through the now-burned terminal.
White House Says US Ship Near Yemen to Ensure Commerce
![(U.S. Navy photo by Anna Van Nuys)](https://images.marinelink.com/images/maritime/w100h1500/us-navy-photo-by-anna-43103.jpg)
The White House said on Tuesday that the presence of a U.S. aircraft carrier near Yemen is intended to ensure freedom of navigation and commerce in the area. White House spokesman Josh Earnest cited energy, among other important commodities, as important shipments near the coast of Yemen that need protecting. (Reporting By Julia Edwards; Editing by Lisa Lambert)
US Ports Boost Economic Impacts
![Photo: Port of Los Angeles](https://images.marinelink.com/images/maritime/w100h1500/photo-port-of-los-angeles-43100.jpg)
Since last nationwide analysis in 2007, U.S. Lancaster, Pa.-based Martin Associates, a provider of economic and strategic assessments of the worldās transportation systems, released the results of its latest economic impact study of United States seaports. Dr. John Martin, Martin Associatesā president, debuted his firmās 2014 National Economic Impact of the U.S. Coastal Port System report during theā¦