Diana Shipping Inc. (NYSE:DSX), a global shipping company specializing in the transportation of dry bulk cargoes, announced its intention to participate in a new project involving the formation of a company expected to invest in containerships over the next 12-18 months. Diana Shipping intends to invest $50m for a minority stake in the project,
Richard L. Furman, Esq., member of Carroll McNulty & Kull LLC (CMK) of New York, has authored “Cargo Transportation Security: Legislation and Regulation Through 2009,” a pamphlet published by Matthew Bender. The terror attacks on September 11, 2001, made clear the need
A message from E.E. Mitropoulos, Secretary-General, IMO:The International Maritime Organization has decided to dedicate next year to you by choosing, as the theme for World Maritime Day, "2010: Year of the Seafarer". Our intention is to pay tribute to you, the world's 1.5 million
FESCO Logistics, a provider of worldwide logistics services and a division of FESCO North America, delivered a 100-ton roadheader to Novorossiysk, Russia for transshipment to Sochi, Russia for construction of the site of the 2014 winter Olympics.The Alpine Miner ATM 105-IC is a boom-type roadheader of the 100-ton class.
Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company determined the terms and conditions for the issuance of its 13th series of unsecured bonds (with inter-bond pari passu clause) on December 11, 2009, and completed the issuance and payment on December 17. The details are as follows:1.
"The increased demand for point-to-point service requires the use of transshipment hubs to coordinate feeder services to and from countries and ports with low-volume throughput," said Mike Lee, Consultant, Transportation & Logistics, Asia Pacific at Frost & Sullivan.He
DryShips Inc. (NASDAQ: DRYS) a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced the pricing of its previously announced public offering of convertible senior notes. The offering size was increased from $300m to $400m. The sale
Operating profit for the CMA CGM Group is expected to return to the breakeven point in December 2009, ahead of the company’s cautious forecasts in September 2009. The savings plan applied throughout all segments of the group, combined with increasingly firm volumes and rates, is already producing its initial effects.
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the three and nine month periods ended September 30, 2009. Third Quarter 2009 Highlights: - Net income of $2.
U.S. Transportation Deputy Secretary John D. Porcari announced that the Department’s Maritime Administration (MARAD) will begin to clean up and recycle obsolete vessels at the Suisun Bay Reserve Fleet (SBRF). MARAD has awarded the first contracts for the removal and recycling of two WWII-era cargo ships currently moored in Suisun Bay, Calif.
Iridium Communications Inc. (NASDAQ: IRDM) and H2OSatellite provided critical satellite communications for Beluga Shipping’s successful pioneering transit of the challenging Northeast Passage this summer. The Beluga ships relied on Iridium OpenPort high-bandwidth marine satellite systems supplied
The focused panel sessions at the Society of Naval Architects and Engineers (SNAME) Annual Meeting and Expo (October 21-23 at the Rhode Island Convention Center in Providence, Rhode Island) will feature four timely topics: Electric Ships; Renewable Energy from the Oceans; Unmanned and Autonomous Ships
A step-change for the international maritime industry’s escalating war against piracy is ushered in with the official opening of the Merchant Maritime Warfare Centre (MMWC), a UK based, non-profit organisation staffed by experienced maritime security specialists. MMWC has been established to provide
Operators of vessels off the East coast of Africa are being warned by a leading insurance expert to prepare for an increase in pirate attacks after the southwestern monsoon ends in coming weeks.“There is a temporary lull in pirate activity at the moment off the East coast of Africa…but
“Liquidity has come back to some extent,” said Oliver Ebner, Senior Manager, Project and Structured Finance for the National Bank of Abu Dhabi. “However, shipping with its long tenors, falls right into the banks’ funding mismatch of mainly short term deposits versus long term loans.
On August 27, Alliance St. Louis, a Maersk Line, Limited (MLL) vessel, docked and loaded rolling stock cargo at APM Terminals Virginia, becoming the first roll-on/roll-off vessel to call the Portsmouth terminal since the container facility opened in July 2007. MLL and APM Terminals welcomed almost 40 U.
Horizon Lines, Inc., (NYSE:HRZ) , the nation's leading domestic ocean shipping and integrated logistics company, recently participated in two separate anti-piracy system trials in an effort to better protect the lives of merchant mariners.In late July, International Maritime Security Network,
Vizada, an independent satellite communications provider, and CLS, specializing in sustainable management of marine resources, environmental monitoring and maritime security, have signed a partnership to jointly provide long range identification and tracking (LRIT) to the European Maritime Safety Agency
According to an August 10 report from The New York Times, Indian authorities have detained a North Korean vessel and are searching it for radioactive material, the first time a ship has been seized and boarded under sanctions adopted by the United Nations Security Council in June. The cargo ship, M/V San,
On July 13 another offshore vessel series, designed by Naval Architect and Marine Engineering Firm Guido Perla & Associates, Inc. (GPA) was completed at Zhejiang Shipyard in China with the delivery of the fourth vessel of this series. The GPA 670MKIII PSV vessels measure 240 ft in overall length and are equipped with three 1,
The Combined Maritime Forces (CMF) are warning mariners of an anticipated increase in piracy incidents when the southwest monsoon ends in the coming weeks, and are reiterating that merchant mariners must continue to take proactive action to help prevent piracy attacks. High sea states over
Smiths Detection announced a $10.6m U.S. Government contract for its mobile, high-energy cargo screeners which will be deployed across the country to inspect inbound and outbound shipping containers and trucks.The HCV Mobile inspection vehicles use high-energy X-ray scanning designed to optimize security checks at ports,
Krishnapatnam Port Company Limited (KPCL)celebrates its first anniversary on July 17, 2009. Post the completion of first phase, in a record time of 18 months, it was inaugurated and dedicated to the nation a year ago by Smt. Sonia Gandhi, Hon’ble Chairperson UPA. Though port is in its maiden year,
Allianz Global Corporate & Specialty (AGCS), an insurer of ships and cargo, has released a study suggesting its clients adapt their approach to marine insurance as the threat of piracy off the Horn of Africa continues to grow. In addition, the study points out that crews entering dangerous waters must be prepared to handle an attack,
Amendments to SOLAS regulation V/19, to make mandatory the carriage of Electronic Chart Display and Information Systems (ECDIS) and Bridge Navigational Watch Alarm Systems (BNWAS), under SOLAS chapter V, Safety of Navigation, were adopted, with an expected entry into force date of 1 January 2011. The
Revised guidance on combating piracy and armed robbery against ships was agreed by IMO's Maritime Safety Committee (MSC) when it met at the Organization's London Headquarters for its 86th session from 27 May to 5 June. Specific guidance relating to the continued attacks on ships off the coast of Somalia and in the Gulf of Aden was also agreed.
In an informal presentation, Tim Plummer, president of Tesoro Maritime Company presented crewmembers of Crowley's tug Vigilant with an award recognizing their commitment to safety and the environment by concluding 2008 with zero spills and incidents. "We are pleased to have
According to a June 17 report from Bloomberg, Namura Shipbuilding Co., a Japanese builder of cargo vessels and tankers, gained the most in a month after increasing its annual profit forecast to reflect compensation it got from a customer that canceled a ship order. The stock rose 7.4 percent as of the close on the Osaka Securities Exchange,
The GAC Group has launched a new solution in crisis management and anti-piracy services – GAC Protective Solutions, Powered by Cerberus – to provide professional security and protective solutions for ships, cargo and crew. The core services include: crisis management, officer/crew training,
IMO's Maritime Safety Committee (MSC) is meeting at the Organization's London Headquarters for its 86th session from 27 May to 5 June. The packed agenda includes discussion on piracy and armed robbery against ships off the coast of Somalia and in the Gulf of Aden, the implementation of the
Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) reported results (unaudited) for the first quarter ended March 31, 2009. Revenue, net of voyage expenses and commissions, was $106.14 million in the first quarter of 2009 as compared with $115.67 million in the same quarter of 2008. TEN deployed an
Below is the opening statement given by Chairman Elijah E. Cummings at the May 19 Coast Guard and Maritime Transportation Subcommittee hearing, “Piracy Against U.S.-Flagged Vessels: Lessons Learned.”On February 4, 2009, I convened this Subcommittee to examine international piracy on the high seas,
The leadership of Sealift Logistics Command Europe and Commander, Task Force 63 changed hands at SEALOGEUR headquarters in Naples, Italy. Capt. James E. Tranoris assumed the dual command from outgoing commander, Capt. Nicholas H. Holman.SEALOGEUR, Military Sealift Command's arm in Europe and Africa,
Liberty Maritime Corporation President and CEO Philip J. Shapiro testified May 20 on lessons learned from the international piracy crisis and the immediate need to protect American merchant mariners on U.S.-flag vessels. In his testimony before the House Coast Guard and Maritime Transportation Subcommittee,
Liberty Maritime Corporation President and CEO, Philip J. Shapiro, asked Congress to provide the U.S. legal framework to allow for ship owners to arm crews or contract armed private security teams when necessary. In the interim, Shapiro asked for government security teams or naval escorts of all U.S.
At approximately 10:30 local time May 5, Military Sealift Command ship (MSC) USNS Lewis and Clark (T-AKE-1) was approached by suspected pirates off the eastern coast of Somalia and took evasive action to prevent a successful attack.While transiting north to provide logistics support for U.
The FBI's involvement in the maritime domain is a result of existing US Law, Executive Orders, Presidential Decision Directives (PDD) 39, 62, & 63, and Homeland Security Presidential Directive (HSPD) 5 to include a few. Specifically, the FBI has a lead role for operational and investigative response to a terrorist threat or incident,
Following a series of attacks off the eastern coast of Somalia, Combined Maritime Forces issued an updated special maritime advisory message. The message highlights several recent attacks that occurred hundreds of miles off the Somali coast and states that merchant mariners should be increasingly vigilant when operating in those waters.
April 8, Congressman Elijah E. Cummings (D-Md.), Chairman of the House Subcommittee on Coast Guard and Maritime Transportation, released the following statement in response to the seizure this morning of the U.S.-flagged container ship, Maersk Alabama, which was carrying relief cargo to Kenya for the
Orsus(R) announced that the Virginia Port Authority has initiated a project to leverage Orsus' Situator(TM) to monitor visitors without the Transportation Worker Identification Credential (TWIC). The program, being called Trusted Agent by the Virginia Port Authority, allows trusted visitors