Dry Bulk Market in Historically Bad State -MSI
Dry bulk sector revisits 1980s lows and faces uncertain longer term outlook; with the market near bottom, attention is turning toward the length of the downturn, the effect on asset values and the impact of broader demand side changes. In terms of annual average fleet employment rates, the dry bulk market has now dropped to levels last seen over 20 years ago in 1992, according to the latest quarterly dry bulk market forecast from Maritime Strategies International (MSI).
Shipyards Leading the Way on Safety in OSHA Partnership
The Shipbuilders Council of America (SCA) has announced a new partnership with the National Shipbuilding Research Program and the Occupational Safety and Health Administration (OSHA), a part of the Department of Labor (DOL), focused on continuing employee safety practices in U.S. shipyards. The Alliance Program will develop training and best practices to promote safety and health in the shipbuilding and repair industry including preventing worker exposure to electrical…
SOLAS Insufficient on Gas Detection -WSS
Ship operators must combine vigilance, structure and care with the new SOLAS X1-1/7 - MSC.1/Circ.1477 & MSC.1/Circ.1485 regulations to safeguard crews from the dangers…
Bryan Steps in as Interferry’s Interim CEO
Darrell Bryan, formerly president and CEO of Victoria Clipper, has started work as interim CEO of Interferry following the retirement of Len Roueche. The Interferry…
First of Nine New TNPA Tugs Sets Sail
The first of Transnet National Ports Authority’s nine new, powerful tugboats set sail from the Durban premises of contractor, Southern African Shipyards, on Saturday, April 2, destined for its new home at the Port of Port Elizabeth. The tug was ceremonially launched as MVEZO last October. It arrived in Port Elizabeth in the early hours of Monday, April 4. Port Elizabeth port manager, Rajesh Dana, said…
Volvo Penta Acquires Majority Stake in Humphree
Volvo Penta has signed an agreement to become the major shareholder of marine technology provider Humphree. The transaction is subject to conditions and expected to close within four weeks. Having a majority share in Humphree will further accelerate the next step in Volvo Penta’s journey to become a full marine system supplier, the company said, adding it will also gain the ability to extend its range of boat dynamics solutions with new trim and stabilization functions…
Migrants Returned from Greece arrive in Turkey
Three passenger boats return migrants from Lesbos, Chios; desperate migrants continue to cross despite deal. The first migrants deported from Greek islands under…
Container Shipping Approaching Crucial Trigger Point - Drewry
Further expected container shipping liner losses throughout the first half of 2016, exacerbated by the awful prevailing spot and contract freight rates will lead…
ABB To Help Save Venice From the Sea
ABB to deliver advanced integrated automation and electrical solution for largest Italian public work project of the last century. ABB will supply the complete integrated…
Hydro Group Shortlisted for Made in Scotland Awards
Aberdeen-headquarted, Hydro Group plc is recognised as a finalist at the 2016 Made in Scotland Awards for the categories Manufacturer of the Year and Exporter of the Year.
DNV GL Wins Johan Sverdrup Verification Deal
Johan Sverdrup is by far the largest ongoing project on the Norwegian Continental Shelf for the next few years. Statoil has awarded contracts to DNV GL for verification of all 4 topsides…
Seagull Launches Ex, El Safety Training
Seagull Oil & Gas has launched the most cost efficient and comprehensive e-learning training package in the industry for offshore personnel working in explosive atmospheres.
Boskalis Completes Acquisition of STRABAG Wasserbau
Royal Boskalis Westminster N.V. (Boskalis) has concluded the acquisition of the dredging activities and assets of STRABAG Wasserbau GmbH. The transaction price of…
Japanese War Subs Dock in the Philippines
Two Japanese destroyers and a submarine have arrived to the major Philippine port of Subic, , the first in 15 years, to uphold “peace and stability” in the region, the Philippine Navy have said.
LNG Names New MD
Australia's Liquefied Natural Gas Limited (LNGL) has appointed Chevron executive Greg Vesey to replace company founder Maurice Brand as managing director and chief executive.
Primorsk Shelves Restructuring Plans
Russian tanker player Primorsk International Shipping has dropped its restructuring plans in favour of pushing through asset sales, reports WSJ. This is what Primorsk's…
Bahri Secures Finance for 5 VLCC Newbuilds
The National Shipping Company of Saudi Arabia (Bahri) has inked a Murabaha Facility Agreement with Riyad Bank over the weekend to fund an order for five very large…
Scorpio Cancels Kamsarmax Newbuilding Contract
Scorpio Bulkers has continued to cull its fleet expansion with the cancellation of a newbuilding contract for a kamsarmax bulk carrier. US-listed bulker owner set…
Vietnam Seizes Chinese Fuel Ship
Vietnam's coast guard has seized a Chinese vessel for intruding into its territorial waters, say local media. The ship, carrying more than 100,000 litres of fuel…
Israel Extends Maritime Space for Gaza Fishermen
Israel has extended the distance it permits Gaza fishermen to head out to sea along certain parts of the coastline of the enclave, which is run by the Islamist terror group Hamas, reports Reuters.
