Nor-Shipping 2009 was the largest in the event’s history, dating back to 1967. 1105 exhibitors from 52 countries participated. By comparison, Nor-Shipping 2007, which took place in the midst of a market boom, had 830 exhibitors from 42 countries.The Leading Voices conference that opened Nor-Shipping 2009 on Tuesday,
Inmarsat has presented the type approval certificate for SAILOR 150 FleetBroadband to Thrane & Thrane during the satcom equipment manufacturer's Global Partner Conference, held in Copenhagen in June. SAILOR 150 FleetBroadband will be offered as part of Inmarsat's FleetBroadband service, which is
According to a report on UPI, South Korean ship builders have been hit hard by the global economic slowdown as new orders plunged in the first half of 2009. Yonhap reports that South Korea’s three major shipyards received combined orders of only $1.23 billion in the first six months of this year, compared with $34.
The Ship Power business of Wärtsilä Corporation has finished the formal process in Finland and in some other countries, aimed at realigning its organization and resources. The negotiations were initiated at Ship Power to adjust to the substantially weakened global marine market situation. In Finland,
CENTA Corporation has moved to a new facility in Aurora, Illinois. The new building features over 23,000 sq ft for office, warehouse and manufacturing and assembly space. According to Bob Lennon, CENTA Corporation’s Director of Sales and Marketing, the new site will help the company
A year after the 100% biofuel eco-boat, Earthrace, finished its around the world dash, her international crew of volunteers have been officially named world record holders by the Union International Motonautique (UIM).The worldwide governing body for powerboating has confirmed that the team
Wärtsilä has officially opens its Manufacturing Technology Centre (MTC) in Vaasa, Finland. The MTC is a new concept for Wärtsilä, and is aimed at securing and further developing its manufacturing competencies, and sharing manufacturing know-how throughout the global Wärtsilä network.
Floating production has proved a cost-effective method of developing both marginal and world-class offshore fields worldwide. As the offshore industry continues to progress into deeper waters these systems are also a key enabler for the production of hydrocarbons in ever-increasing water depths. In the past five years,
Led by Alexander Ananenkov, Deputy Chairman of Gazprom Management Committee, the company’s delegation continues its business trip to Saint Petersburg.The delegation is composed of Oleg Aksyutin, Member of the Management Committee – Head of the Gas Transportation, Underground Storage and Utilization Department,
In a new 200-page report, Drewry Shipping Consultants analyses the facts and explodes some of the myths surrounding the future of this crucial sector. The lack of knowledge has led to some assessments that are cock-eyed or just plain wrong – sometimes dangerously so. But several things can be stated without equivocation.
Sino-Global Shipping America, Ltd. (NASDAQ:SINO), a non-state-owned provider of shipping agency and forwarder services operating primarily in China, announced the establishment of a new subsidiary in Shanghai, China. The subsidiary, Trans Pacific Logistics Shanghai, Ltd., increases Sino-Global's presence
Navios Maritime Holdings Inc. Announces Agreement to Acquire Four New Build Capesize Vessels with Secured Long-Term Employment Generating Approximately $43.33 million of EBITDA Annually - Issuance of $165.22 million of Mandatorily Convertible Preferred Stock - $52.82 Million Reduction in
On June 22 Ashland Inc. (NYSE:ASH) announced it has signed a definitive agreement to sell its global marine services business, known for many years as Drew Marine, to J. F. Lehman & Co. in a transaction valued at approximately $120m before tax. Ashland’s after-tax proceeds will be used to reduce debt.
Industrial technology specialist, Tracerco, part of the Johnson Matthey group, has increased its global presence by establishing a new service centre in Shanghai, China. The opening comes shortly after the company invested in new operations facilities in Kuala Lumpur, Malaysia and Perth, Australia.Despite the global economic downturn,
Iridium Satellite LLC and Cambridge Consultants announced that Global Telecoms Business (GTB) has awarded its 2009 GTB Innovation Award to the two companies for excellence in the Wireless Network Infrastructure Innovation category. The award recognizes the groundbreaking Iridium OpenPort system, which
As part of their "175 Years of Rickmers in Shipping" anniversary, Hamburg shipowners and businessmen Bertram and Erck Rickmers have donated $1.4m to the World Future Council (WFC). “On the occasion of the family’s 175th anniversary we would like to pay tribute to the
The United Seamen's Service (USS) 2009 40th Annual Admiral of the Ocean Sea Awards (AOTOS) will be presented to Donald Kurz, President and CEO of Keystone Shipping Co., headquartered in Philadelphia, and to Ronald Widdows, Group President and CEO of NOL (Neptune Orient Lines) of Singapore, parent company of American President Lines (APL).
ABS Nautical Systems (NS), a division of ABS, a classification society, announced a series of senior management changes and established a new client-centered operational structure to strengthen its portfolio of fleet management software services for the marine and offshore industries. Karen Hughey,
Just at a time when Europe discovers the vast growth opportunities linked to new technologies for the sustainable use of the oceans and seas, the key maritime sectors face their deepest slump ever. Driven by ill-informed speculation, massive overcapacities have built up in global shipping and shipbuilding.
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,
DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that it has signed an agreement with DnB NOR on waiver terms for $86m of our outstanding debt. George Economou, Chairman and Chief Executive Officer,
Safe Bulkers, Inc. (NYSE: SB), an international provider of marine drybulk transportation services, announced the sale of a Panamax Class Vessel. Safe Bulkers has entered an agreement to sell a 76,000 dwt Panamax class vessel built in 2003 for $33m, excluding commissions to brokers. The vessel will be delivered to its new owners in December 2009.
Wärtsilä introduces a new, comprehensive package of services, designed to cost efficiently manage hot and cold vessel lay-ups. Reduced transportation demand, over-capacity, and low freight and charter rates have become a major concern throughout the marine industry. The laying-up
GE Marine announced that the United States Navy’s Office of Naval Research (ONR) recently awarded GE a contract for ONR’s DDG 51 Fuel Efficient and Power Dense Demonstrator competition. “This project will develop and demonstrate the technology necessary to enable substantial
Cargotec has received two significant Kalmar ship-to-shore (STS) crane orders for customers in Mexico and Guadeloupe. Delivery of the crane to Port Autonome de la Guadeloupe in Guadeloupe and the crane for Pinfra’s subsidiary, Infrastructura Portuaria Mexicana in Altamira, Mexico are scheduled for the last quarter 2010.
On June 16, coinciding with the official opening of its headquarters in Lisbon, the Lisbon-based European Maritime Safety Agency (EMSA) released its second annual Maritime Accident Review. This year's issue of the review, which covers the year 2008, shows that 754 vessels were involved in 670 accidents (sinkings,
The Cape Town container terminal’s R4.2 billion expansion project has seen several milestones for the port in recent months, and the upward trajectory is set to continue as the country’s second largest container terminal ramps up its capacity over the next five years. Oscar Borchards,
Their family has been involved in shipping for 175 years. They are the fifth generation and today run two independent groups of companies: Bertram and Erck Rickmers, entrepreneurs and ship owners from Hamburg, will be celebrating the 175th anniversary of the Rickmers family in shipping today, June 12, 2009.
Pal Jensen was named president of Caprock Communication’s Maritime Division. Jensen, a telecommunications industry veteran, moves into this role from his former position as the company’s vice president of Maritime Sales. In his new role, Jensen will oversee all aspects of the Commercial Maritime Division,
In recent years, Vietnam has emerged as an important producer of oil and natural gas in Southeast Asia. Despite the current economic crisis, the country continues boosting its activities in the energy industry. Accordingly, global technical assurance and consulting company Germanischer Lloyd (GL) has
Governor Edward G. Rendell announced the investment of up to $25 million dollars in commonwealth capital funds to advance the Southport Marine Terminal project at the Port of Philadelphia. The investment will fund pre-construction activities critical to the project's success. Teams qualified to bid
Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on transportation of dry bulk cargoes, announced its unaudited financial and operating results for the three month period ended March 31, 2009. First Quarter 2009 Highlights• For the first quarter of 2009, net income was $22.
Marine safety equipment supplier Pamarine launched its Blu Veritas Voyage Data Recorder (VDR). Similar to black boxes fitted on the aircraft, the Voyage Data Recorder collects data on board vessels so that it can be examined in the event of a shipping accident.With the launch of the Blu Veritas Voyage Data Recorder,
Dockwise Ltd. announces that its subsidiary Dockwise Shipping has appointed Peter Wit as its Chief Financial Officer, effective September 1 2009. Wit, who has a master degree in business administration from Groningen University, and a (post doctorate) degree in controlling from VU Amsterdam, will lead the company's global finance,
As part of its global network expansion plan, KVH Industries, Inc., (Nasdaq: KVHI) announced that it has taken operational responsibility of the mini-VSAT Broadband service network supporting North America and the Caribbean. These regions were previously managed under a revenue sharing agreement with SES Americom.
George Economou and broking house Banchero and Costa Spa have both invested in the Green Recycling Initiative launched two weeks ago. The $300m GRI aims to integrate the needs of steel producers to be able to produce ethically sourced steel from traceable scrap and the needs of shipowners to recycle ships in a more environmentally friendly manner.
Dockwise Ltd. announced that its subsidiary Dockwise Shipping has appointed Peter Wit as its Chief Financial Officer, effective September 1 2009.Peter Wit (1967), who has a master degree in business administration from Groningen University, and a (post doctorate) degree in controlling from VU Amsterdam,
The International Maritime Lecturers Association (IMLA) in cooperation with The United States Merchant Marine Academy (USMMA) and The Global Maritime and Transportation School (GMATS) presents THE 9th INTERNATIONAL CONFERENCE ON ENGINE ROOM SIMULATORS (ICERS 9), on November 2 - 5, 2009. The International
Commandant Thad Allen, in a recently signed letter, announced that the United States will be the host of the 2009 World Maritime Day Parallel Event being held in New York City and around the country on October 16. The theme this year is “Climate Change: A Challenge for IMO too!”
Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SES: ONAV50), a provider of global marine transportation services focusing on product tankers, announced its financial and operational results for the first quarter ended March 31, 2009. For the quarter ended March 31, 2009, Omega Navigation reported total revenues of $18.