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 finance—and which they won’t…
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 NOV’s largest customers. Effective April 22…
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 average…
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
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 shipwreck…
UKHO Launches New ADMIRALTY Digital Radio Signals
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 3…
Gulf Oil Spill Restoration Projects Proposed
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 that…
Oil Majors Push Offshore Players for 30% Cuts
30%That’s 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
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 Filipino…
Response to Grounded Bulker Ongoing
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 tanks…
Edda & its Five Star Offshore Accommodations
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, then…
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 increase…
Logistics and Warehouse Insurance: Understanding its Complexity
In October 2013, a fire blazed through Brazil’s Santos port, destroying six warehouses and the 180,000 tons of raw sugar inside Sugar Company Copersucar’s terminal. The fire hit all of the sugar giant’s warehouses at the port and left many exporters holding contracts for sugar with an empty bag. Following the fire, Copersucar declared “force majeure” 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
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
Since last nationwide analysis in 2007, U.S. Lancaster, Pa.-based Martin Associates, a provider of economic and strategic assessments of the world’s transportation systems, released the results of its latest economic impact study of United States seaports. Dr. John Martin, Martin Associates’ president, debuted his firm’s 2014 National Economic Impact of the U.S. Coastal Port System report during the…
