Sete Brasil to seek up to $5 bln funding
Sete Brasil Participações SA presented a draft reorganization plan on Friday that includes seeking up to $5 billion in funding and downsizing business, three months…
APM Terminals Pipavav Q1 Net Zooms 60%
APM Terminals Pipavav’s (Gujarat Pipavav Port Ltd) today posted a 60 per cent rise in standalone net profit to INR 59.75 crore for the first quarter ended June 30, 2016 on the back of lower expenses.
Crystal Serenity Goes to Arctic
The cruise ship MV Crystal Serenity, owned by the US-based Crystal Cruises, is scheduled to set sail from Seward, Alaska to New York on a 32 day, 1,500 km journey…
Maersk Paints a Gloomy Picure
Danish shipping conglomerate A.P. Moeller-Maersk A/S has reported a plunge in profits in the second quarter in the face of tough market conditions. Maersk's quarterly…
A Bumpy Ride: China's New Maritime Silk Route
China has been pressing ahead with its ‘One Belt, One Road’ (OBOR) initiative – comprised of the Silk Road Economic Belt and the 21st-century Maritime Silk Road…
CMA CGM Launches New EURAF 6 Service
CMA CGM Group has launched its new service EURAF 6 by cooperating with a partner under a slot swap agreement. Enhanced service coverage with a second loop direct…
Madagascar Workshop Promotes Dumping of Wastes at Sea Regulations
A national workshop promoting the treaty covering dumping of wastes at sea, the London Protocol, was held in Antananarivo, Madagascar (11-12 August). The workshop…
Vivek Bhatia New CEO of Thyssenkrupp AsiaPac
Vivek Bhatia (38) will become the new CEO of thyssenkrupp Asia Pacific effective October 1, 2016. He succeeds Dr. Stefan Schmitt (40), who will move to thyssenkrupp…
PSV VOS Passion Named in China
Platform supply vessel VOS Passion was named in a ceremony on July 18 at Cosco Shipyard in Guangdong, China. VOS Passion, the fourth of six PX121-type PSVs being built at the shipyard for Vroon, is in the final stages of construction and will be ready for delivery in August. The PX121 design features Ulstein’s patented X-BOW design to provide smoother vessel movements in harsh conditions. The PSVs…
Lease Sale Proposed for Wind Energy Off North Carolina
A new lease sale has been proposed for 122,405 acres for commercial wind energy leasing offshore North Carolina. The proposed lease, announced today by U.S. Secretary…
Oil Extends Rally on Possible Producer Action
Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi…
US Oil Drillers Add Rigs for 7th Week in a Row
U.S. drillers this week added oil rigs for a seventh consecutive week, according to a closely followed report on Friday, even as analysts revise down rig count growth…
Fourth LNG-ready Product Tanker Delivered to Crowley
Crowley Maritime Corp. took delivery Friday of MT West Virginia, the fourth new Jones Act product tanker built for the company by Philly Shipyard, Inc. (PSI). Crowley will christen the West Virginia on Tuesday at a ceremony at Philly Shipyard. The LNG-ready West Virginia can be converted for propulsion by liquefied natural gas (LNG), joining sister ships Louisiana, Ohio and Texas, which were received…
Update: Oil Rig Aground off Scotland
No further pollution has been detected in the area of the grounded oil rig Transocean Winner as the U.K. Maritime and Coastguard Agency (MCA) continues to monitor the scene. The MCA counter pollution surveillance aircraft yesterday flew over the location and surrounding area to make careful observations for pollution around the rig and the nearby coast and sea and no sheen or sign of pollution has been found.
India's Merchandise Exports Down in July
India's merchandise exports contracted 6.84 percent year-on-year to $21.69 billion in July, government data showed on Friday. The value of overseas shipments rose for the first time in June…
DOF Secures North Sea PSV Contracts
DOF Group said it has secured an extension with Maersk UK for 2011-built platform supply vessel (PSV) Skandi Gamma until the end of 2016 and for 2003-built PSV Skandi Caledonia with Apache North Sea Ltd until mid-January 2017.
Port of Los Angeles Imports Increase in July
July imports at the Port of Los Angeles climbed 5 percent compared to the previous year. Overall cargo volumes in July slipped 1.6%, mostly due to a decline in the shipment of empty containers. For the first seven months of 2016, year-to-date volumes have increased 4.75 percent compared to 2015. “As retailers prepare for consumer needs during the holiday season, we’re encouraged to see import volumes increase,” said Port of Los Angeles Executive Director Gene Seroka.
Forecasters Predict Strong Atlantic Hurricane Season
In its updated 2016 Atlantic Hurricane Season Outlook, the U.S. National Oceanic and Atmospheric Administration (NOAA)calls for a higher likelihood of a near-normal or above-normal season, and decreases the chance of a below-normal season to only 15 percent, from the initial outlook issued in May. The season is expected to be the most active since 2012. Forecasters now expect a 70 percent chance of 12 to 17 named storms…
Gulf Coast Shipyard Delivers MY Imagine
Gulf Coast Shipyard Group (GCSG) has delivered the Motor Yacht Imagine. The M.Y. Imagine, a Trinity built yacht, is a 193’x 32’x 14’6” custom designed semi-displacement aluminum hull and superstructure vessel that was constructed in GCSG’s yard located in New Orleans, Louisiana. The vessel meets the highest quality yacht standards in the world. It was designed by GCSG and is ABS classed for commercial yachting service. M.Y.
Rickmers Group Revenue Slides in First Half of 2016
In the first half of 2016 the Rickmers Group generated consolidated revenues of €249.3 million ($279 mln), 13.9 percent lower than in the corresponding period in 2015 (€289.6 million, $324 mln).
