Oil Markets Brace for Possible US Sanctions on Venezuela
U.S. oil markets were readying for fallout from potential U.S. sanctions on Venezuela's vital oil sector on Monday after Sunday's election in the struggling country was deemed a "sham" by Washington. Venezuelan President Nicolas Maduro on Monday celebrated the election of a new legislative superbody that will have the power to dissolve state institutions such as the opposition-run Congress. Countries around the world denounced the vote. U.S.
Fifty Years of Seafarer Training in the South Pacific
Approximately 200 guests celebrated the 50th anniversary of the Marine Training Center (MTC) on the Kiribati island of Tarawa in the South Pacific. Although some 13…
Software Solutions: Monitor & Track
As the maritime industry embraces the digital revolution, companies like GateHouse are poised to prosper. GateHouse in developing software solutions to support optimization, flexibility and mission critical operations for vehicle and vessel tracking, monitoring and satellite communications. We caught up with Michael Bondo Andersen, CEO and founder of GateHouse, for insights on his strategy moving the company forward.
ATB Newbuild Delivered to Kirby Corporation
A second Articulated Tug Barge unit (ATB) Paul McLernan and the 155,000-barrel barge 155-02 for Houston-based tank barge operator Kirby Corporation has been delivered by Sturgeon Bay, Wisc. shipyard Fincantieri Bay Shipbuilding (FBS), a subsidiary of Fincantieri Marine Group. Following the delivery of the first ATB in the fall of 2016, the recent delivery completes a contract signed in July 2014. “Our contract with Kirby to build a pair of ATBs was significant for our FBS team…
For Payroll Purposes, is Your Seaman Really a Seaman?
For operational purposes, it is critical to know what type of employees you have on your vessel. Failure to do so could be expensive. As vessel operators, we pay close attention the provisions of the Jones Act and how they affect the operation, crewing and administration of our marine-based operations. A determination that your vessel-based crews are seamen under maritime law creates a different employment…
Baltic Index Gains On Stronger Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on stronger capesize vessel rates. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.39 percent, at 946 points. The capesize index climbed 86 points, or 7.55 percent, to 1,225 points. Average daily earnings for capesizes…
Man Charged with Murdering Wife on Cruise Ship
A Utah man has been arrested for allegedly murdering his wife onboard the cruise ship Emerald Princess in Southeast Alaska. Kenneth Manzanares, 39, of Santa Clara, Utah, was charged by criminal complaint with the murder of his 39-year-old wife, Kristy, in their shared cruise ship cabin on July 25. According to the criminal complaint, Emerald Princess security and medical personnel responded to an incident in the cabin where Kristy was found deceased with a severe head wound.
Demand Fuels Boxship Freight Rates for Japan's Big Three
Japan's big three shippers on Monday reported profits for the first quarter, bouncing back from losses a year earlier and raising hopes the firms could be emerging…
Baltic Exchange to Shutter Baltex
The Baltic Exchange will close its freight derivatives platform Baltex at the end of the year after a strategic review, the London-run business said on Monday. Baltex…
BW LPG Establishes a JV in India
BW LPG Limited and Global United Shipping India Private Limited, have agreed to establish a joint venture in India in which the parties will own 50% each. The purpose of the new joint venture…
SOHAR Port Breaks Container Throughput Record
SOHAR has released new figures showing a solid first-half of 2017, as both the Port and Freezone continue to play a crucial role in the diversification and globalisation of Oman’s economy.
Seaspan CEO Gerry Wang to Retire
Seaspan Corporation announced that Gerry Wang, its Chief Executive Officer, Co-Chairman and Co-Founder, will retire from Seaspan effective December 31, 2017 to focus…
Hyundai Heavy Wins $600 Vitol Tanker Contract
The Korean shipbuilder Hyundai Heavy Industries (HHI) won a contract worth up to $600 million from Netherlands-based energy and commodities company Vitol to build as many as eight gas tankers…
Sri Lanka in China Port Deal
Sri Lanka’s government on Saturday signed a long-delayed agreement to sell a 70% stake in a USD 1.5-billion port to China in a bid to recover from the heavy burden…
Bahri Pushes for Saudi Arabian Entry to IMO Executive Council
Senior representatives from Bahri recently joined members of a Saudi Arabia delegation for board meetings of the International Maritime Organization (IMO), which…
V.Group Appoints Ian El-Mokadem as CEO
UK-based ship management company V.Group announced the appointment of Ian El-Mokadem as Chief Executive Officer and Martin Gaard Christiansen as Chief Commercial Officer.
USS Gerald R. Ford Completes First Arrested Landing
Less than one week after Pres. Donald J. Trump commissioned the U.S. Navy's newest aircraft carrier, USS Gerald R. Ford (CVN 78) launched and recovered its first fixed-wing aircraft July 28…
Konecranes Won Repeat RTG Order from Port Houston
During the second quarter 2017, Konecranes received an order for 9 RTGs from Port Houston, Texas, USA. This is a repeat order, the first Konecranes RTGs to Port Houston were delivered in 2003.
Samsung Heavy Back in Black in Q2
Cost reductions paved the way for South Korea's Samsung Heavy Industries (SHI) to swung to the black in the second quarter of 2017, though sales income decreased in the period reported Yonhap.
Indian Ports Buoy by Healthy Growth in Cargo
Indian port sector players will continue to experience healthy growth in cargo in the near term, PTI reported quoting rating agency Icra. Traction in Inland Waterway…
