Inchcape to Pay $20 Mln for Allegedly Overbilling US Navy
U.K. based marine services contractor Inchcape Shipping Services Holdings Limited and several of its subsidiaries have agreed to pay $20 million to resolve allegations that they violated the False Claims Act by knowingly overbilling the U.S. Navy under contracts for ship husbanding services, the U.S. Department of Justice announced.Inchcape provided goods and services, including food and other subsistence items…
Kouroumplis: Greece Continues to Pace the Global Shipping Sector
As the maritime market steers toward Athens, Greece and Posidonia 2018, Maritime Reporter & Engineering News interviews Panagiotis Kouroumplis, the Greek Minister of Maritime Affairs and Insular Policy. As the Minister of Shipping for the country with the largest merchant fleet and a millennia-old maritime tradition, Kouroumplis carries his responsibilities with pride and humility.Born in Aetoloakarnania in 1951…
France's Macron Calls for Global Trade Reform
French President Emmanuel Macron on Wednesday said it was time for the world's biggest economic powers to start talks on reshaping World Trade Organization rules to prevent current tensions spiraling into trade wars.Macron's comments before the Paris-based Organization for Economic Cooperation and Development (OECD) came as the European Union faced less than 48 hours to win an exemption from U.S. tariffs…
Interview: Mark Knoy, President and CEO, ACBL
American Commercial Barge Line (ACBL) named Mark K. Knoy as its president and chief executive officer in August 2011. Prior to joining ACBL, he was vice president of American Electric Power’s (AEP) Fuel, Emissions and Logistics Group and president of AEP River Operations, having joined AEP with its 2001 purchase of MEMCO Barge Line. From 1984 to 1994, he was owner/operator of The Mark Twain Towing Company and Delmar Marine, Inc., Pekin, Illinois.
Canadian Navy Upgrading Its Navigation Systems
The Royal Canadian Navy (RCN) has initiated a plan to upgrade navigation system hardware on a range of surface vessels and submarines.The supplier OSI Maritime Systems (OSI) said it has signed a deal with RCN to design, build, test, certify and deliver MIL-SPEC navigation system hardware upgrades to replace legacy systems that were originally provided by the company, some dating back to 2001. OSI will…
BSM Demonstrates Commitment to Greek Shipping
Bernhard Schulte Shipmanagement (BSM) demonstrated its commitment to the Greek shipping industry on May 24th, 2018, during a hospitality event titled ‘The future of shipmanagement’ in Athens, co-organized with MariApps Marine Solutions.More than 120 figures from the maritime sector, including representatives from ship owners, customers, business partners, government, industry associations and members of BSM’s key management…
New Onboard Hull Cleaning Solution Launched
HullWiper Ltd’s eco-friendly hull cleaning technology is now available as a flexible onboard solution that allows all types of vessels to clean hull fouling on demand.The onboard version of the diver- and brush-free remotely operated vehicle (ROV) gives vessels on a tight schedule the means to perform a partial or full hull clean on a planned rotation, as and when needed. Cruise ships and super yachts…
Macroeconomic Trends Signal Good News for Shipping
The current global economic growth (GDP) looks like it may be as good as it gets, with indicators across the globe signaling healthy expansion, but at a slower pace compared to the levels seen in the last half of 2017.Global economic growth seems on track to reach its highest level since 2011, as the International Monetary Fund (IMF) maintain its projection for the world GDP at 3.9 percent and expects the global economic growth to be supported by a strong momentum…
PDi Celebrates a Decade in Decommissioning
This year, Project Development International (PDi) Ltd., part of the Tattva Group, celebrates a decade of activity within the decommissioning sector. As a provider of multi-disciplined engineering, project management and project services to the international energy industry, PDi has worked with multiple clients since 2008, successfully completing more than twenty decommissioning workscopes.Recently…
SOCAR Inks Deals for Caspian Fields with Equinor
Azeri state oil company SOCAR and Norway's Equinor on Wednesday signed a risk service contract for the development of the Karabakh offshore oil and natural gas field…
ABB to Equip High-spec Vessel for Largest Offshore Wind Farm
ABB technology allowing integration of batteries receives major vote of confidence as Louis Dreyfus Armateurs orders second wind farm service vessel featuring a wide scope of ABB’s solutions.Maritime transportation group Louis Dreyfus Armateurs (LDA) will add a second 83 meter windfarm service operation vessel (SOV) to its fleet, featuring an extensive range of ABB’s technology, with the award-winning power distribution system Onboard DC Grid at its core.
Van Oord Wins Taiwanese Offshore Wind Contract
Dutch marine contractor Van Oord said on Wednesday it had won a 500 million euros ($579 million) contract to build a 640 megawatt (MW) offshore wind farm in Taiwan.Van Oord will design, manufacture and install the eighty foundations for the wind farm, to be constructed eight kilometres (5 miles) off the coast of Yunlin prefecture.Installation will begin in 2020, Van Oord said, with a capacity of 350…
HamiltonJet to Unveil New Waterjet and Controls
HamiltonJet plans to launch a new generation of waterjets and advanced control systems at the SEAWORK show in July 2018.The new generation waterjet named the HTX30 has undergone years of research…
Iran's Oil Exports Fall in May, when US Quit Nuclear Deal
Iran's crude oil exports have declined slightly in May, according to estimates from a leading tanker-tracking company, in the first sign that the threat of U.S. sanctions may be deterring buyers.The estimates from Geneva-based Petro-Logistics also suggest Iranian oil buyers are not rushing to cut volumes from OPEC's third-largest producer. The U.S. sanctions have a 180-day period during which buyers should "wind down" purchases.U.S.
Dual-Fuel Engine Hits 10,000 Hours on Ethane
Hartmann Reederei, the German ship-management company, has confirmed that two of its vessels – the 36,000 m3 LEG (liquefied ethylene gas) carriers Gaschem Beluga and Gaschem Orca – powered by the world’s first ME-GIE (-Gas Injection Ethane) two-stroke engines have collectively accumulated 10,000 hours of operations since entering operation at the end of 2017.The carriers were ordered by Hartmann and Ocean Yield of Norway…
Former OW Bunker Manager Gets 18 Months in Jail
A Danish court on Wednesday sentenced the former manager of OW Bunker's Singapore subsidiary to 18 months in prison after he was found guilty of granting credit outside his mandate, contributing to the bankruptcy of the marine fuel oil supplier.The 2014 bankruptcy of OW Bunker, then the world's leading supplier of marine fuel oil with a 7 percent market share, sent shockwaves through the global shipping…
Dry Bulk Rates Continue to Slide
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday for the eleventh straight session as demand fell across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 15 points, or 1.4 percent, at 1,042 points.The index fell for the eleventh straight session and hovered at over six-week lows.The capesize index also fell for the eleventh straight session and lost 48
Plans Emerge for Strategic Indian Ocean Naval Port
Indonesia and India pledged on Wednesday to step up defense and maritime cooperation, with plans to develop a strategic Indonesian naval port in the Indian Ocean…
S.Korea: Five Shipbuilding Regions get "Industry Crisis" tag
South Korean Finance Minister Kim Dong-yeon said on Tuesday the government will designate five key shipbuilding centres on the country's south coast as "industry…
Titan LNG Supplies New Van Oord LNG Powered Werkendam
In a joint effort between the Port of Moerdijk, the shipyard Neptune Marine, Cryonorm Systems and Titan LNG the Werkendam was supplied successfully for the first time with LNG.
