Dry Bulk Shippers Fail to Benefit From Trade Growth
NEW YORK, NY--(Marketwire - March 10, 2011) - The bulk and tanker sectors of the shipping industry have been in the headlines for all the wrong reasons this year. Both sectors have been underperforming as freight rates remain under pressure based on too many available ships and not enough demand to match supply. Compounding the crisis, Chinese demand for raw materials has dropped dramatically as the nation tries to prevent its economy from growing too quickly.
Boatracs Announces Strategic Partnership with Software Provider
San Diego, California, March 8, 2011: Boatracs Inc., a leader in providing integrated communications and software solutions to the maritime industry, announced today it is building a powerful new web-based software platform. Boatracs has partnered with TransIT Solutions, a software provider for the transportation and logistics industry, to accelerate the development of the new solution. The partnershipā¦
Horizon Lines Successfully Amends Credit Agreement
Horizon Lines, Inc. (NYSE: HRZ) today announced that it has entered into a credit agreement amendment with its lender group, effective March 9, 2011, providing the company with additional flexibility as it moves forward with its overall debt refinancing efforts. The amendment waives a default under the senior credit facility that would have arisen from the $45 million fine that the company has agreed to pay to settle the Department of Justice investigationā¦
Star Bulk Enters Into a New Time Charter for the Star Gamma
Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that the Company received a letter from Korea Line Corporation ("KLC"), the charterers of the Star Gamma ("the vessel'), announcing the termination of the charterparty, effective immediately. No hire has been received since the Company's public announcement on February 22, 2011 informing shareholders that KLC had commenced rehabilitation proceedings in Korea.
FMC Technologies Receives $125 Million Order From Petrobras
FMC Technologies (NYSE: FTI) announced today that it has received a $125 million order from Petrobras (NYSE: PBR, PBRA), Brazil's national oil company, to supply equipment for use in their oil and gas developments offshore Brazil. The order, for 32 subsea trees, represents the remaining equipment under a 107-tree frame agreement that was announced in February of 2010. Equipment deliveries are scheduled to begin in 2013.
Seaway Regulations & Rules Ammended
The U.S. Saint Lawrence Seaway Development Corporation (SLSDC) and the St. Lawrence Seaway Management Corporation (SLSMC) of Canada are jointly amending the Seaway Regulations and Rules.
SOCP 2011 April Meeting Registration
The theme for the Ship Operations Cooperative Program (SOCP) April meeting is āSupported Project Topics and Working Groups Issues. SOCP invites maritime industryā¦
Yachting in Malta, Superyacht Industry Seminar
The International Superyacht Society (ISS) announced its collaboration with Wilfred Sultana & Associates in presenting the Superyacht Industry Seminar, The Way Forward, being conducted in Malta, Friday 29 April 2011. Similar to the seminar presented in 2009, foreign and local speakers will again take the podium. While two years ago the theme was āThe Superyacht Industryā, this year the forum focuses more on the Malta yachting scenario while underlining the demanding requisites of superyachts.
MAMA Gets Approval for RFPEW Assessments
Mid-Atlantic Maritime Academy is now Coast Guard-Approved to offer an RFPEW Assessments program. Students must have 60 days of engine room service to take the class.
Search and Salvage Down Under
The Central Queensland Port Authority is undertaking one of the largest capital improvement projects in Australia. The RG Tanna Wharf Expansion Project involves extending the pier by 350 meters, widening existing berths, building a 1.3 kilometer onshore conveyor, and creating a new jetty approach. The cost of the construction portion alone is $128m. Marine contractor Realfās Diving and Salvage was hired to survey the area before the dredging operation could begin.
Penguinās Pelican Marine
A logical outgrowth of an established boat builder is a marine operating company. With a well established aluminum building yard in Singapore and a steel fabrication yard in Batam Indonesia, Penguin Marine has spun off not one, but two marine operating firms. Penguin Ship Management Services operates high-speed ferries throughout Southeast Asia including on the busy Singapore-Batam route. Pelican Offshore Servicesā¦
SUNY Maritime College Admiralās Scholarship Dinner
State University of New York (SUNY) Maritime Collegeās annual Admiralās Scholarship Dinner will be held on Tuesday, May 3, 2011, on the Collegeās Throgs Neck, Bronx, New York campus.
Coast Guard Commandant Testifies on Appropriations
U.S. Coast Guard Commandant Adm. Bob Papp testified before the House Subcommittee on Homeland Security Appropriations here, Thursday, about the Coast Guardās budget for fiscal year 2012. Adm. Papp spoke about the service's fiscal year 2012 budget request and provided committee members a snapshot of recent Coast Guard operations including vessel traffic management on the St. Marys River in Michiganā¦
This Day in U.S. Coast Guard History - March 11
1941- The Lend-Lease Program was inaugurated. All 10 of the Coast Guard's Lake-class cutters were transferred to the Royal Navy under the program. Two were lost in action against German forces.
This Day in U.S. Naval History - March 11
1941 - President Franklin D.
Keppel Shipyard Nets Two Contracts Worth S$170 Million
Keppel Shipyard Limited (Keppel Shipyard), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured new contracts totalling S$170 million for two fast-track projects. The new jobs comprise completing a Pipe Laying Vessel for Saipem S.p.A (Saipem) and converting a Floating, Storage and Offloading (FSO) vessel for Bumi Armada Berhad (Bumi Armada). Mr Nelson Yeo, Managing Director (Marine) of Keppel O&Mā¦
Hundreds killed in Tsunami, 8.9 Japan Quake
A ferocious tsunami spawned by one of the largest earthquakes ever recorded slammed Japan's eastern coast Friday, killing hundreds of people as it swept away boatsā¦
Transas simulation solutions help to develop a plan of the New Container Terminal in MIP, Turkey
Dokuz Eylul University Maritime Faculty, Turkey has conducted a study to develop a new "East Mediterranean Container Terminal" in Mersin International Port (MIP) using Transas Simulation solutions. Yapı Proje Uygulama (YPU) that manage construction project of new container terminal chose the Dokuz Eylul University Maritime Faculty for this project after a comprehensive market research. Vice President of YPU Mr.
New generation Transas simulator for Broome Maritime Simulation Centre
Kimberley TAFE Broome Maritime Simulation Centre has extended its range of services by selecting a Transas Full Mission Transas Simulator. The Transas Marine will upgrade the existing simulation centre to provide one of the most advanced marine trainings and R&D tools in the Australia. The simulation suite includes a main bridge and a tug station for a new port development, training of pilots and tug masters.
Strategic Marineās Compact Crew Boat
With literally dozens of their high-speed vessels already working, Australian-based Strategic Marine continues production in several shipyards. A recent visit to Strategic Marineās Singapore shipyard revealed their compact 91.8-ft 23-ft version ready for work while three sisters were taking shape in the building shed. With a molded depth of 9.88 ft, the Peacock Satu has capacity for up to 60 passengers and accommodation for eight crewmembers.
