Young Named VP Production Ops at Austal USA
Austal USA promoted Chris Young to Vice President of Production Operations. Young, formerly Senior Director of Production, is a 26-year veteran of Austal with 19 of those years spent at Austal USA’s new construction manufacturing facilities in Mobile. Young’s tenure with Austal began immediately following school in Perth, Australia, when he joined the company as a structural engineering apprentice.
Ship Recycling Market Slows
As the ship recycle market enters a period of contraction going into the traditionally weaker and quieter summer / monsoon months, sentiments have declined across the sub-continent markets (and even Turkey) this week, according to GMS. To compound the bearish ship recycling sentiments, local steel plate prices have further weakened at key destinations and LME steel futures show few signs of any sort of recovery in the immediate future.That said…
Why the EU is Restricting Grain Imports from Ukraine
The European Commission has announced restrictions on the imports of Ukrainian wheat, maize, rapeseed and sunflower seed in Poland, Hungary, Romania, Slovakia and Bulgaria until June 5.The move led to Poland, Hungary, Slovakia and Bulgaria lifting unilateral import bans they had imposed citing the need to protect their farmers. Romania had not banned imports.Here are some of the issues:WHY IS UKRAINE…
SMST to Provide 'World's Largest' 3D Motion Compensated Cranes for Windcat Offshore's CSOVs
Dutch offshore equipment supplier SMST has been awarded a contract by Damen Shipyards to deliver two sets of mission equipment for the two newbuild Elevation Series CSOVs for Windcat Offshore. SMST will deliver a gangway combined with access & cargo tower and "world’s largest" 3D Motion compensated crane.The Elevation Series CSOVs have been designed by Damen Shipyards in cooperation with Windcat and CMB.TECH.
Telenor Maritime Partners with Globetech
Telenor Maritime has entered into a collaboration agreement with Globetech AS in a move intended to strengthen potential for business development and provide greater market access for both partners.Globetech is a provider of ICT technology and services for vessels and floating offshore installations worldwide. Its expertise in delivering safe and reliable infrastructure solutions and ICT services for…
USACE Mobile District Adds New Survey Vessel
The U.S. Army Corps of Engineers, Mobile District and Tennessee-Tombigbee Waterway Development Authority held a ceremony to officially welcome a new survey vessel to its fleet in Columbus, Miss., April 28, 2023.The Miss Agnes, built by Theodore, Ala. based Silver Ships, is a custom 26-foot multibeam and single beam capable marine survey vessel that features an enclosed center console, a three-monitor survey station, and an air conditioner unit that is paired with a generator.
Baltic Index Rises on Strong Capesize, Supramax Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, aided by higher rates for capesize and supramax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 40 points, or 2.6%, to its highest in eight weeks at 1,598.The capesize index was up 125 points, or 5.2%, at 2,509 — its highest since Dec.
SAAM Sales Up, Net Income Down in Q1 '23
SAAM reported comparable net income of $18.9 million for the first quarter of 2023 (-19%). This figure excludes $1.3 million in extraordinary accounting losses related to the binding agreement to sell the port terminal and associated logistics operations to Hapag-Lloyd.Sales totaled $218.1 million (+8%) and consolidated EBITDA $67.7 million (-4%)."During the period we saw a decrease in volumes at our port and logistics operations…
Stena Line Acquires Ferry and RoRo Port Operations in Ventspils
Stena Line announced on Tuesday that it has acquired the operations of the ferry and RoRo terminals in the Port of Ventspils, Latvia, representing the latest in a range of investments in the Baltic region, including the addition of upgraded ferries and new ferry routes.The acquisition in Latvia is the latest among several moves to support Stena Line’s long-term expansion in the growing Baltic Sea region.
St. Johns Ship Building Launches Vocational Training and Apprenticeship Program
St. Johns Ship Building (SJSB) is working to attract the next generation of skilled shipyard workers.The Palatka, Fla. shipbuilder announced it has introduced a comprehensive vocational training program designed to cultivate a variety of sought-after marine and shipbuilding crafts and trades. The program will be progressively rolled out, with each stage focusing on different skill sets and timeframes.The…
India's Adani Ports to Pay $130 Million of Debt Early
India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Tuesday that it would pay $130 million of its debt early, after nearly $413 million worth of debt has been tendered for early payment.Adani Ports had floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds late last month, as it seeks to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report.
HAV Group Set to Acquire Undheim Systems, Adding DP Capabilities
Norway's HAV Group ASA has agreed to acquire Undheim Systems AS, a provider of dynamic positioning (DP) systems for vessels."The planned technology acquisition is a strategic move that accelerates HAV Group's plans to offer digital functionality that meets the global maritime market's needs for decision support tools and autonomous ship operations," HAV Group said.“HAV Group already provides digital decision support systems to vessels in order to cut operating expenditure and emissions to air.
U.S. Offshore Vessel Owner Harvey Gulf Welcomes Philip Luongo as Executive VP
U.S.-based offshore vessel owner Harvey Gulf International Marine has said that Philip Luongo, a New York native and graduate of the United States Merchant Marine Academy, has joined the company. After graduating Kings Point, Luongo upgraded his Unlimited U.S. Coast Guard License by sailing on deep sea vessels and operating production platforms in the Gulf of Mexico. Luongo then transitioned shore side where he worked for BP for nine years…
North Star to Expand Offshore Wind Fleet with Two New Vessels from Vard
Norwegian shipbuilder Vard, part of Italy's Fincantieri, has signed new contracts to design and construct two commissioning service operation vessels (CSOVs) for the UK-based offshore vessel owner North Star.The agreement also has an option for two additional ships, which could ultimately create a total of up to 200 new seafaring job opportunities across the CSOV fleet once operational, Vard said.North Star…
Meyer Turku Increased Turnover in 2022
Meyer Turku Group has published its 2022 financial results indicating a positive turnaround on the previous year.The Group’s turnover was 1.30 billion euros, up about 200 million euros on 2021. The loss for the financial year was 15.6 million euros, which was less than the previous year's 17 million euros.Meyer Turku CEO Tim Meyer comments on the result: "During 2022, we were particularly affected by the difficult availability of materials and overall increased costs…
US Coast Guard Warns on Load Line Regulations
The Office of Investigations and Casualty Analysis has released U.S. Coast Guard Marine Safety Alert 06-23: Avoiding Load Line Requirements.The safety alert cites a recent marine casualty resulting in the total loss of a crane barge, estimated at over $6 million, and cautions about the risks associated with not complying with load line regulations.The incident occurred approximately 18 miles offshore…
Lomar Shipping Buys Three Bulk Carriers
U.K.-based shipowner Lomar Shipping announced it has acquired three Supramax bulk carriers as part of its ongoing bulker fleet expansion program.The company, a subsidiary of New York-based Libra Group, said it has taken delivery of the 57,038-dwt Oslo Trader (ex Ariadne, built in 2010), while the 2012-built 56,702-dwt Lima Trader (ex Universal Bangkok) and 57,075-dwt Rome Trader (ex Haut Brion), built in 2011…
US Consumer Goods Import Forecast Lowered for First Half of 2023
Closely watched U.S. retail trade forecasters on Monday lowered their import target for the first half of 2023 and said they expect incoming ocean container volume to remain soft going into this autumn - when retailers like Walmart (WMT.N) should be well into holiday season preparations.The Global Port Tracker now expects U.S. container imports of 10.4 million 20-foot equivalent units (TEU) for the first half of the year, a reduction of nearly 4% from its prior forecast.
Ukraine Says Russia Has Effectively Stopped Black Sea Grain Deal
Russia has effectively stopped the Black sea grain deal by refusing to register incoming vessels, Ukraine's reconstruction ministry said on Monday.Ukrainian Black Sea ports were blockaded after Russia's invasion last year, but access to three of them was cleared last July under a deal between Moscow and Kyiv that was brokered by the United Nations and Turkey."The Russian Federation once again effectively…
CMA CGM to Buy Bollore Logistics Unit for $5.5 Billion
French shipping group CMA CGM has committed to buy the logistics operations of family-run conglomerate Bollore for an enterprise value of 5 billion euros ($5.5 billion), the two companies said on Monday.CMA CGM granted the Bollore group an option to sell it the logistics business, which generated more than 7 billion euros in revenue last year and employs 13,500 people.Bollore said it would decide whether…
