Barging Ahead in Uncharted Waters
A Real-Life Study in Creative Vessel Financing, or What Happens When Plan ‘A’ Is Not Working. Much has been written on the various structures and approaches that can be used to finance the construction and purchase of vessels. Such articles typically speak in general terms, presenting what might be called the textbook version of the approach under consideration. But what happens when reality rears its ugly head…
Stevens to Study Shipping Containers’ Invasive Species
Stevens Institute of Technology researchers have received a $2-million contract from the Department of Homeland Security (DHS) Science and Technology Directorate (S&T) to improve detection of threats coming into the U.S. through container shipments. Shipments of containers to the U.S. that contain goods, including rice and other grains can be infested with foreign pests and invasive species, which may pose a serious threat to the U.S. economy.
Cairn India Seeks to Export Oil Despite Ban
Cairn India Ltd has invited initial bids for exports of its oil from the desert state of Rajasthan, according to a copy of the tender notice seen by Reuters, despite…
Caterpillar Increases Dividend Rate 10%
The board of directors of Caterpillar Inc. voted to increase the quarterly cash dividend by 10 percent to $0.77 per share of common stock, payable August 20, 2015…
Envitia to Deliver First Phase of DSG Program
ENVITIA has been awarded a contract by Hewlett Packard Enterprise Services UK to deliver, in partnership, the first phase of the Defence Geospatial Services (DGS) program to the UK Ministry of Defence. DGS will provide a step change to the Situational Awareness capability in Defence allowing them to react to crises worldwide in a more effective and efficient manner. Under the contract, ENVITIA and…
DSME Launches LNG Carrier for Teekay
Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, was floated out at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in South Korea on May 29. The vessel is on charter contract with Cheniere and is expected to enter service early 2016, making it the most efficient LNG ship on the water with the lowest unit freight cost in the world fleet.
Odfjell Board Announces New CEO’s Start Date
Kristian Verner Mørch will take up his new position as president and CEO of Odfjell SE from August 1, 2015, the company’s board of directors announced. His appointment was announced in May 2015. Mørch, a member of the board of Odfjell SE since May 2014, will step down as board director of the company from the same date. Mørch is Danish citizen with more than 27 years' experience in the shipping industry…
Harris Pye Engineering, Grand Bahama Shipyard Partner
Harris Pye Engineering has announced the recent alliance with Grand Bahama Shipyard Ltd. The two companies met in Miami at the Cruise Shipping Exhibition and discussed…
Oman Drydock Appoints Deputy CEO
Oman Drydock Company (ODC) informs it has appointed one of Oman’s most experienced maritime professionals as deputy CEO to help support and grow its expanding operations. Taking up the role of deputy CEO, Dr. Ahmed Al Abri, draws on 17 years experience working as a naval architect overseeing major projects in shipyards around the world in the U.K., Holland, Romania and Singapore. “When I first went to study naval architecture at Southampton University in the U.K.…
Dive Operator Sentenced after Propeller Death
A New Zealand dive operator and skipper have been sentenced for the February 2014 death of a diver struck by a propeller while on a trip to the Poor Knights Islands, Maritime New Zealand announced.
Biggest Shear-Leg Floating Crane in Operation
On April 21, Hyundai-10000, Hyundai Heavy Industries (HHI)’s newest floating crane, succeeded to the throne of “symbol of HHI” from the two 1,600-ton gantry cranes at its offshore yard by lifting a topside module of Moho Nord tension leg platform (TLP) at once. What makes Hyundai-10000 a successor to the 1,600-ton Goliath cranes is not just because it is new but because it has an unparalleled lifting capacity at one of the world’s biggest offshore yards.
Teekay LNG Announces Board Changes
Teekay LNG Partners L.P. announced changes to Teekay LNG’s board of directors. Jane Hinkley has been appointed to the chairmanship position succeeding C. Sean Day…
Great Lakes Limestone Trade Ramps Up
Shipments of limestone on the Great Lakes totaled 3.8 million tons in May, an increase of 16.6 percent compared to a year ago, and the highest monthly total recorded since June 2012…
TU Varna Opens Maritime Simulator Wing
New simulator wing features DNV certified VSTEP Dynamic Positioning and Full Mission Bridge Simulators and type approved ECDIS classroom. The simulation center of the Technical University of Varna officially opened its new simulation wing on May 21, 2015, following the opening of its simulation center in 2012. All the simulators in the TU Varna training center are delivered and installed by VSTEP.
Chemical Shipping Fortunes Lifted by Swing Ships
Chemical shipping faces another tough year, but prospects are improving thanks to the strength of the product tanker market which is attracting a growing number of swing ships out of chemicals into products, according to the latest edition of the Chemical Forecaster, published by global shipping consultancy Drewry. Drewry estimates that seaborne trade in chemicals (including vegetable oils and fats) was stagnant in 2014 and is forecast to grow at less than 2.5% pa over the next few years.
Scrubber Installed Aboard M/V Bore Song
The exhaust gas cleaning system (scrubber) supplied by Deltamarin Floating Construction to Bore Ltd on a turnkey basis, has received confirmation of full compliance with SECA and IMO regulations (approved by Lloyd's register and TRAFI, the Finnish Transport Safety Agency). After the 14-day dry docking, the open loop operation of the scrubber was in immediate use when the ship left the repair yard.
Head of Greece's Biggest Port Piraeus Resigns
The head of Greece's biggest port Piraeus will step down, a statement said on Wednesday, after the port was once more named as a target for privatisation in the…
Helm Report Says Workboat, OSV Safety Compromised
Some 50% of crews working on offshore support vessels are willing to compromise safety rather than say ‘no’ to clients or senior management, while nearly 80% believe…
McDonald Confirmed as Mass. Maritime President
A vote by the Massachusetts Board of Higher Education (BHE) has confirmed Francis X. McDonald has been selected as the 38th president of the Massachusetts Maritime Academy.
Enforcement of Maritime Passenger Rights Regulation
The maritime passenger rights regulation entered into force on 12 December 2012. It made it possible for passengers to complain to the authorities about, for example, cancellations and delays.
