Western Supply Chains Buckle as Coronavirus Lockdowns Spread
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Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.While China's draconian steps to stop the spread of the virus are now allowing its economy slowly to come back online, supply chains are backing up in other…
Viking Continues Operations on Main Freight Lines
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Finnish cruise ferry operator Viking Line announced Monday it will continue service on its "most important" routes despite concerns about the coronavirus outbreak."Taking the security of supply for Finland and Åland as well as the cargo transport demands into consideration, we continue freight traffic between Helsinki and Tallinn as well as on the Turku–Åland–Stockholm route," it said in a statement.“To safeguard the security of supply between Finland and Sweden…
Insights: Gavin Higgins, CEO, Everett Ship Repair
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Everett Ship Repair (ESR) is a relatively new name in the U.S. ship repair business. Established in October 2019, the Pacific Northwest shipyard is owned by Ice Cap Holdings, LLC, which is also the parent company to another shipyard not too far away: Nichols Brothers Boat Builders (NBBB).Both ESR and NBBB are headed up by CEO Gavin Higgins, who is responsible for the development of new business opportunities and cultivation of new business relationships…
Baltic Index Falls On Waning Panamax Rates
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The Baltic Exchange's main sea freight index hit an almost one-week low on Monday, dragged down by weaker demand for panamax and supramax vessels.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dipped 8 points, or 1.3%, to 617. This is its lowest level since March 17.The panamax index fell 33 points, or 4.1%, to 774, posting its 11th successive decline.Average daily earnings for panamaxes…
Wärtsilä Simulation Technology for SAMK
![The Wärtsilä navigation simulator is an essential enabler in the ISTLAB project aimed at creating a testing environment for smart autonomous vessels. Photo: SAMK / Pekka Lehmuskallio](https://images.marinelink.com/images/maritime/w100h1500/the-wrtsil-navigation-simulator-is-111226.png)
The technology group Wärtsilä has delivered a navigation simulator and specific mathematical models to the Satakunta University of Applied Sciences (SAMK) in the city of Rauma, Finland. These will be used as an essential enabler in the Intelligent Shipping Technology Test Laboratory (ISTLAB) project, which aims at creating a technically precise testing environment for remotely controlled, autonomous vessels.
Saudi Arabia's Tanker Power Play Could Backfire
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Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments.That could leave the kingdom stuck with tens of millions of barrels in expensive ships at anchor when the coronavirus outbreak has destroyed oil demand and international prices have lost more than half their…
US Supreme Court Maroons Filmmaker in Blackbeard Video Piracy Fight
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The U.S.
Could Coronavirus Disruption Offer an Opportunity for China Shipyards?
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A decline in the rate of infections in China provides yards with the opportunity to reorganize their delivery schedules to address an approaching output slump, says Maritime Strategies International (MSI)The welcome news of declining rates of coronavirus infections in China, together with steps already in place and still to come in terms of government intervention, provide the barest glimmer of good…
Wallenius Wilhelmsen Withdraws Dividend, Mothballs Vessels
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Shipping firm Wallenius Wilhelmsen, which transports cars and other vehicles from factories to markets, has cut its dividend to zero and will mothball up to 10 vessels as demand plunged amid the coronavirus outbreak, it said on Monday.The company also plans to scrap up to four older vessels, it added.Oslo-listed Wallenius Wilhelmsen, which operates around 125 vessels, had originally proposed to pay dividends of up to $60 million, divided into two tranches."The world has changed dramatically over
Dock Workers at Brazil's Santos Port Call off Strike Vote
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A union representing the on-demand dock workers has called off a vote that had been scheduled for Monday on whether to hold a strike at Latin America's largest port over concerns about risks from the coronavirus outbreak.In a statement on Sunday, the union - which said it represents about 5,000 people - said the cancellation of the vote was due to a request from government officials.
Cochin Shipyard Suspends Operations Due to COVID-19
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India's Cochin Shipyard Ltd. (CSL) said it has suspended shipbuilding and repair operations amid the coronavirus pandemic. It said "essential services' would continue.Seven people have died and more than 400 have tested positive for COVID-19 in India, according to the health ministry, with more than 80 cities and districts placed under lockdown.The full statement from the shipbuilder is below: In pursuance of the instructions of instructions of Govt of India dated 22 March 22…
Damen Names Van Heyningen COO
![Marc van Heyningen (Photo: Damen Shipyards Group)](https://images.marinelink.com/images/maritime/w100h1500/marc-van-heyningen-photo-damen-111222.jpg)
As of April 1, Marc van Heyningen will become the new Chief Operations Officer (COO) of Damen Shipyards Group. This completes the Executive Board of the leading Dutch maritime solutions provider.Marc is a MSc in Civil Structural Engineering at Delft University and has spent the vast majority of his career working for Fluor Corporation in various general and operations management positions in, for example, The Netherlands, The UK, India and the USA.
Grand Princess Crewmember Medevaced
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A crewmember aboard the coronavirus-stricken Grand Princess cruise ship was medevaced after suffering a medical emergency, the U.S. Coast Guard said.The Coast Guard said it was notified by the ship that a man in his early-40s needed further medical attention Saturday morning.Coast Guard watchstanders consulted the duty flight surgeon who recommended the crewmember be medevaced from the Grand Princess.
Svitzer Gets 10-Year Contract Extension with Sakhalin Energy Investment
![Svitzer operating in Sakhalin, Russia. Image Courtesy Svitzer.](https://images.marinelink.com/images/maritime/w100h1500/svitzer-operating-in-sakhalin-russia-111212.jpg)
Svitzer, the towage operator that is part of Maersk, announced a 10-year extension of its marine service contract with Sakhalin Energy Investment Company Ltd., a consortium set up to develop and manage the Sakhalin-II project, aimed at producing and exporting oil and liquefied gas.Svitzer has been providing towage services to the Sakhalin-II project since 2007, and the extension comes into effect in November 2022 to support the mooring of more than 1…
Oil, Fishing, Tourism: Alaska Economy Faces Triple Hit from Coronavirus
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The U.S. state of Alaska is so far distant from the worst medical ravages of the coronavirus pandemic, but its economy is in critical condition. Alaska is especially vulnerable because it depends on oil, tourism and fisheries – basic industries that are reeling from the global coronavirus pandemic – and the state government gets most of its revenue from investment earnings that have now evaporated."Alaska is experiencing a perfect storm…
Gallery: Giant Crane Vessel Sleipnir 'Arrives Home'
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Sleipnir, the world's largest semi-submersible crane vessel, has arrived in the Port of Rotterdam for the first time since its delivery from Singapore last year.Heerema Marine Contractors, the Netherlands-based offshore installation company, and the owner of the vessel has informed that vessel "arrived home" on Sunday, March 22,Heerema's newly upgraded tug Kolga joined Sleipnir at sea to guide the vessel into the Caland Canal.
Ocean Infinity’s Hunt for the Submarine San Juan
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The search for the Argentinian submarine was like hunting for the proverbial needle in a hay stack, except that it was a piece of straw. Elaine Maslin reports. At 7.19am, local time, on November 15, 2017, the last message was received from the San Juan submarine. She belonged to the Argentinian navy and was on a routine mission from Ushuaia in the Patagonia region to Mar del Plata in Buenos Aires province when she lost contact with the military.
IMF: Global Impact of COVID-19 will be Severe, but Temporary
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As many markets struggle to find their footing in the face of the global COVID-19 pandemic, a recent podcast with Martin Muhleisen, director of the IMF's Strategy, Policy, and Review department, helps to lend insight and perspective from the view of the International Monetary Fund.Muhleisen said the impact of the global coronavirus pandemic will be “quite severe,” but temporary, saying that the overall…
No Need for a Jones Act Waiver -AMP
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America's maritime industry has hit back at a recent request by U.S. shale drillers to waive the Jones Act, a law requiring goods transported between U.S. ports to be carried on ships that are built, owned and operated by Americans.The American Exploration and Production Council, which represents independent oil firms that have been thrashed by an oil price war between Saudi Arabia and Russia and the fallout from the global coronavirus outbreak…
Valaris Gears up for Possible Debt Restructuring
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Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday.Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion debt pile, and is exploring enlisting a turnaround firm that specializes in urgently addressing stressed finances to bolster its roster of advisers…