MarEx eNewsletter - March 4, 2010

March 4th, 2010 Vol. 8, No. 9 Featured MarEx Print Article: Upgrades+Downgrades Featured print article from the Maritime Executive November/December 2009 Dockwise edition. WORKBOAT STOCKS: Movin' On Up? by Jack O'Connell The last time we looked, the stocks of companies like Tidewater, Bourbon and Seacor were riding high. And for good reason. Oil prices were ... Read More>>>Back to Top Each Earth Day Shortened Due to Chilean Quake The Feb. 27 magnitude 8.8 earthquake in Chile may have shortened the length of each "Earth" day. JPL research scientist Richard Gross computed how Earth's rotation should have changed as a result of the Feb. 27 quake. Using a complex model, he and fellow scientists came up ... Read More>>>Back to Top SEC Files Compliant Against World Fuel Executive and Others for Insider Trading SEC v. Steven Scoppetuolo, et al., Civil Action No. 1:10-CV-20475 (S.D. Fla.) The Securities and Exchange Commission ("Commission") filed a complaint today in the United States District Court for the Southern District of Florida against Steven Scoppetuolo, Robert S. Tocci, Sarang Ahuja, Richard White, and Eric M. ... Read More>>>Back to Top Maritime Casualties--March 4, 2010 Latest maritime casualty news. • Three Crew Killed After Ship Slams into Pier Three crew members were killed after a Costa Europa cruise liner crashed into a pier as it was docking last Friday morning at a Egyptian Red Sea resort. Read More>>>Back to Top Piracy & Ship Attacks--March 4, 2010 Latest reports on pirates and ship seizures. • Pirates Capture Saudi Tanker Somali pirates captured a small Saudi tanker in the Gulf of Aden on Monday with 14 crew on board. The 5,136 tonne tanker, MT Nisir Al Saudi was traveling ... Read More>>>Back to Top MAC Goes Into The Cold With The Little Red Ship Are you ready for the Poles? asks Maritime Accident Casebook in its latest two-part podcast The Case of the Little Red Ship. Increased interest among commercial shippers in using the traditionally closed North-East and North West Passages in the Arctic and growing tourism to the Antarctic driven ... Read More>>>Back to Top UK Group Warns of Financial Pressure on UK Flags Due to Mariner Costs Equality Act could devastate UK flag operators Seafarers from developing countries sailing on UK Flag ships to be paid said as UK resident seafarers. UK Shipowners group says the Equality Act 2010 (part 5 relating to seafarers) would require any seafarer sailing on a British flag ship ... Read More>>>Back to Top PMI Hosts BC Pilots, Seaspan, SMIT and Vancouver Port Tanker Escort Ops Review The Pacific Maritime Institute (PMI) hosted its third of several scheduled two and a half day tanker escort training programs. The program included members of the British Columbia Coast Pilots and tugboat Captains from Seaspan International Ltd. and SMIT Marine Canada Inc. This training program marks the culmination of a ... Read More>>>Back to Top Rogue Waves Kill Cruise Passengers 26-foot waves kill two on cruise liner in the Mediterranean on Wednesday. As many as 14 injuries and two passengers are dead after 26-foot waves crashed into a cruise ship off the coast of France on Wednesday. The 18-year-old, Cypriot-owned Louis Majesty was sailing ... Read More>>>Back to Top MITAGS Announcements MITAGS introduces upcoming courses. LNG TERMINAL OPERATORS COURSE Upcoming course date: April 26-30, 2010 The course is intended to familiarize LNG terminal personnel with liquefied gas tanker safety and cargo operations. Terminal equipment such as pumps, hard arms, gas ... Read More>>>Back to Top Offshore and Maritime Seafarer ID Standards Under ILO 185 By: Glenn Faulk, Diego Archer (Berry Appleman & Leiden LLP) Since September 2001 (9/11), heightened border protection measures have resulted in the need for more secure travel documentation, such as biometric passports, secure national identification cards and the like. As the majority of all global trade is ... Read More>>>Back to Top BAE Ordered to Pay Criminal Fine of $400 Million BAE Systems pleaded guilty in U.S. District Court in D.C. on Monday and sentenced to pay a criminal fine of $400 million for conspiring to defraud the United States by jeopardizing its lawful functions. BAE Systems was ordered to pay one of the largest criminal fines in ... Read More>>>Back to Top Waterway Council TV Commercial "Keep America Moving" "KEEP AMERICA MOVING" Waterways Council, Inc. (WCI) has developed and begun airing in the Washington, DC market a new 30-second TV commercial, "Keep America Moving," which highlights the critical value of the inland waterways system to jobs, to the environment and energy efficiency, and to traffic congestion ... Read More>>>Back to Top Lessons Learned: Personal Cost of Poor Maintenance and Repairs This safety alert serves as a reminder to vessel Owners / Operators, Port Captains / Engineers, crewmembers, and marine inspection personnel of the importance of properly maintaining and repairing vessel electrical systems including those located in inaccessible or confined areas. In this casualty, a young mariner employed ... Read More>>>Back to Top Founder of The Glosten Associates Lawrence Robert Glosten (1918-2010) Lawrence Robert Glosten, Naval Architect, 1918 to 2010 Lawrence Robert "Larry" Glosten, founder of The Glosten Associates, a prominent Seattle naval architecture firm, died February 22, 2010 in his home on Bainbridge Island, Washington. He was 91. Larry Glosten graduated from Webb Institute of Naval Architecture ... Read More>>>Back to Top Senator Chuck Grassley Receives 9th Annual Waterways Council Leadership Service Award On February 24, 2010 in Washington, D.C., Senator Chuck Grassley, a principal leader in the effort to get the Navigation and Ecosystem Sustainability Program (NESP) authorized in the Water Resources Development Act (WRDA) of 2007, received Waterways Council, Inc.'s 9th Annual Leadership Service Award. Senator Grassley received the award for ... Read More>>>Back to Top EMAIL UNSUBSCRIBE Copyright © 2010 The Maritime Executive. 3200 S. 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