The Federal Maritime Commission (FMC) issued a notice stating that it will meet in open session in its offices on February 10 to consider, among other things, a petition from the National Customs Brokers and Forwarders Association of America for exemption from mandatory rate tariff publication. (2/3/10).
Northrop Grumman Corporation (NYSE: NOC) reported Q4 2009 net earnings of $413 million, or $1.31 per diluted share, and 2009 net earnings of $1.7 billion, or $5.21 per diluted share. In 2008, the company reported a fourth quarter net loss of $2.5 billion, or $7.75 per diluted share, and a net loss for the year of $1.
Access to INTERTANKO's Terminal Vetting Database (TVD) is now available to those who are tanker owners/operators, terminal owners/operators, PSC authorities and others with a legitimate interest in improving safety, but who are not Members or Associate Members of the Association. Access to the TVD continues to remain free of charge,
Krishnapatnam Port achieved a record discharge rate of 42,527 MT of coal in 24 hrs for vessel MV Marina berthed on Jan. 24, 2010. A few days prior to that, the port achieved its highest fertilizer discharge rate of 21,200 MT in 24 hrs for vessel MV Ghent Trader on Dec. 26, 2009. Another record was set when port has loaded 5,
CNOOC Limited announced a summary of its business strategy and development plan for the year 2010. The total targeted net production of the company in 2010 is 275 million to 290 million barrels of oil equivalent (BOE) (assuming with WTI at $75/barrel). The company’s net production for 2009 is
As part of the National Shipbuilding Research Program’s (NSRP) core mission to reduce the costs associated with Navy shipbuilding and repair, the NSRP Executive Control Board has selected 14 new research and development projects for award, totaling approximately $1.2M. These projects will be executed
Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced the delivery of a new build Capesize vessel and the agreement to acquire another new build Capesize vessel.The Navios Antares, a 169,059 dwt Capesize vessel, was delivered
Bisso Marine, a provider of energy and maritime support services, announced that Taylor King is the winner of the annual Bisso Marine Safety Award Drawing. King was selected from a pool of 220 eligible employees.To be eligible for the drawing, an employee must be employed by the company
Viking Life-Saving Equipment announced the company's 50th Anniversary, as well as the 50th Anniversary of its chairman of the board Tage Sørensen on February 1, 2010. The company's international expansion was launched in 1977 with the establishment of a foreign subsidiary in Rotterdam.
Green Star Products, Inc. announced that it has received the final report on a fuel savings test conducted on a Greek shipping vessel. The tests were conducted using Green Star's Diesel Fuel Energizer (DFE) added to fuel tanks. Tests were performed on two Caterpillar Ship Engines Model 3412 (rated at
Globus Maritime Limited (AIM: GLBS) (LSE: GLBS), a marine transportation company that owns and operates Handymax and Panamax dry bulk vessels, announced that a subsidiary of the company has entered into a new time charter agreement for the M/V Tiara Globe with Transgrain Shipping at a gross rate of $20,
Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to extend the time charter for the Genco Muse, a 2001-built Handymax vessel, with Global Maritime Investments Ltd. for approximately 10.5 to 12.5 months at a rate of $17,750 per day, less a five percent third-party brokerage commission.
The Panama Canal Authority (ACP) released first quarter (Q1) operational metrics for fiscal year 2010. In Q1, Canal Waters Time (CWT), the average time it takes a vessel to transit the Canal (including waiting time for passage) significantly decreased. There also were increases in total transits and net tonnage.
According to a Jan. 20 report from Reuters, Danish shipper Norden A/S (DNORD.CO) has agreed to buy three product tankers from a Turkish owner for about $79m to take advantage of a recovery in freight rates.(Source: Reuters)
The Minerals Management Service (MMS) announced that it awarded $67m in grants to Alabama, Alaska, Louisiana, Mississippi and Texas and their political subdivisions in 2009 through the Coastal Impact Assistance Program (CIAP).Created by the Energy Policy Act of 2005, the CIAP provides funding
Overall confidence levels in the shipping industry have stabilised, according to the latest Shipping Confidence survey by shipping account and adviser Moore Stephens, although a sustainable recovery in the markets still appears to be some way off. And the depression in freight rates seems likely to
The Rawasi and Morooj, a pair of RAstar 3800 Class high performance terminal/escort tugs, have just entered service with their Owner, Bakri Navigation Co. Ltd. of Jeddah, Saudi Arabia. Both tugs were built by NGV Tech Sdn. Bhd. in Malaysia. The Rawasi was delivered to the Gulf region in late October 2009, and the Morooj in January 2010.
Braemar Shipping Services plc isued its Interim Management Statement in relation to the period since the six months ending 31 August 2009. The group has benefited from a dry bulk market which has been stronger than many expected during much of 2009, particularly in the latter part of the year.
Horizon Lines, Inc. (NYSE:HRZ) announced that it reduced funded debt by $38.1m during the fourth quarter and completed its fiscal year with $28m less in funded debt than a year ago.The company achieved stronger-than-projected free cash flow during the fourth quarter ended December 20, 2009.
Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to enter into a time charter for the Genco Augustus, a 2007-built Capesize vessel, with Cargill International S.A. for approximately 10.5 to 12.5 months at a rate of $39,000 per day, less a 5% third-party brokerage commission.
This spring Derecktor Shipyards of Connecticut will put its’ newly expanded dry dock to work. The dock will allow the yard to fully service vessels up to 4,000 long tons, 400 ft in length, 82 ft in beam and 20 ft draft. The expanded dry dock will also provide a seamless method of moving these
Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced that on January 8, 2010, it has sold the Navios Hyperion, a 2004 Japanese-built Panamax vessel with a capacity of 75,707 dwt to Navios Maritime Partners L.P. for $63m in cash.
The Liberian-flag fleet grew to a record 3,140 ships, aggregating 97.2m gross tons, in 2009. This represents a net growth during the course of the year of 215 ships and 10.5m gross tons.2009 was a landmark year for the Liberian Registry. It was the year in which the 3,000th vessel was registered under the Liberian flag,
TOP Ships Inc.(NASDAQ: TOPS) announced that it has received from the bareboat charterer of the M/T’s Ionian Wave and “Tyrrhenian Wave, a reduced charterhire rate of $10,000 per day, rather than the $14,300 per day on a bareboat basis that is set forth in the charter agreement. As a result, TOP Ships Inc.
With the aim of giving a better service to its customers, CEPSA Marine Fuels, S.A. has put into place a new barge in Algeciras Bay, providing service for the ports of Algeciras and Gibraltar. The double hull barge is the Spabunker Cuarenta, which is new built and holds the most advanced technology.
2010 will see brighter times in shipboard communications with airtime traffic and usage expectedto go up, an Inmarsat service provider has claimed. Asad Salameh, President of World-Link Communications, said ship owners and managers are ready to be sold the real benefits that onboard broadband
Brightoil Petroleum (Holdings) Limited, one of the largest service providers of marine bunkering in China, announced that the Group has taken delivery of its first ocean-going oil tanker in Singapore purchased in November 2009 for the consideration of $52.5m.The double-hulled aframax oil tanker,
Harvey Gulf International Marine, Inc. of New Orleans, La. announced the award of a contract to Eastern Shipbuilding Group, Inc. for the construction and delivery of six 292-ft by 64-ft by 24.5-ft Offshore Support Vessels. The signing ceremony was held January 4, 2010 at Harvey Gulf’s new office at One Shell Square downtown New Orleans.
Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, announced that it has entered into a time charter contract with Louis Dreyfus Commodities Suisse S.A., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross charter rate of $21,
Looking back at the Cummins Hotips#84 from 1999 (www.haig-brown.com Hotips) one can see how this class of vessels has evolved over the past decade. The crew boats were already getting larger with vessels up to 183 by 35 ft being the largest built for the Gulf of Mexico at that time. The larger boats
Genco Shipping & Trading Limited (NYSE:GNK) announced that it has reached an agreement to enter into a time charter for the Genco Vigour, a 1999-built Panamax vessel, with Global Maritime Investments Ltd. for approximately 10.5 to 13.5 months at a rate of $24,000 per day, less a 5% third-party brokerage commission.
According to a Jan. 6 report from MarketWatch, as freight rates continue to recover and with demand for shipping expected to climb, shares of Asian shippers and shipbuilders are starting the year out trading broadly higher. Investors appeared to agree, lifting shares of major shipping stocks in the region. (Source: www.marketwatch.com)
Drewry’s latest Container Forecaster indicates that the momentum of the industry has entered a new phase as financial aspects and implications seem to have become even more important than poor global demand and over-supply of ships, although clearly all are very inter-related.Neil Dekker,
HyperSizer is a structural sizing and design optimization software tool that works in a feedback loop with finite element analysis (FEA) to automatically search for solutions that minimize weight and maximize manufacturability. Although it can also be used on metallic structures, HyperSizer is
The Port of Palm Beach District selected Florida Crystals as its partner to develop the South Florida Regional Intermodal Logistic Center in western Palm Beach County in order to strategically meet the demands of future cargo traffic.Western Palm Beach County has struggled with soaring unemployment
Safe Bulkers, Inc. (NYSE: SB), announced that it has agreed to terminate the existing charter of the Kamsarmax-class vessel Pedhoulas Merchant. The charter was contractually due to expire in November 2010. Following this agreement, the vessel is expected to be redelivered between February and March 2010.
Cathelco have supplied marine pipework anti-fouling systems for a complete class of fleet replenishment oilers serving the United States Navy. The 14 Henry J. Kaiser Class vessels are operated by the Military Sealift Command and provide underway replenishment of fuel for U.S. Navy ships at sea and jet
For the sixth year in a row, Drydocks World – Dubai (DDW-D), a ship repair, conversion and new building yard in the region and the flagship company of the Drydocks World group, has been the recipient of the British Safety Council’s (BSC) globally respected Sword of Honour. The award is in
According to a Dec. 28 report from Bloomberg, a 26-mile-long line of idled oil tankers, enough to blockade the English Channel, may signal a 25 percent slump in freight rates next year. Traders booked a record number of ships for storage this year, seeking to profit from longer-dated energy futures
Kvichak Marine Industries, of Seattle, Wash., is currently constructing a 44.5-ft by 13.7-ft Response Boat Medium – C for operation by the New York City Police Harbor Unit. This vessel is the sistership of the USCG Response Boat Medium and has been adapted to meet the mission requirements of the NYPD Harbor Unit.