Saturday, November 19, 2011

MarEx Newsletter | 3 Kidnapped at Gunpoint off Nigerian Coast, Chinese Shipper Withholds Charter Payments

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Second Chinese Shipper Withholds Charter Payments

Latest withholding marks the second high-profile dispute between ship owners and Chinese shippers this year.

Grand China Logistics Holding Co., a unit of Chinese transportation operator HNA Group stopped making payments to Norway’s Spar Shipping AS for three vessel charters early this summer and discontinued payments for one vessel contract to Greek ship-owner, Vafias group.

Industry experts say that Spar Shipping and Vafias Group are just two among a long list of companies in conflict with Grand China over payments. Norwegian dry-bulk shipper...
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Corporate News Press Releases
3 Kidnapped at Gunpoint from Offshore Nigerian Oil Field

Officials from a private security firm say gunmen in Nigeria have kidnapped three workers early Friday morning from a supply ship working near a Chevron offshore oil field.

The attack took place an estimated 70 nautical miles offshore of Bayelsa state. The identity and nationality of those kidnapped is not yet...
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US Navy Powers Destroyer with Biofuel in 20 Hour Trip Along California Coast

On Thursday the U.S. Navy completed the first leg of its largest alternative fuel test onboard a destroyer along the California coast.

Twenty-thousand gallons of algae-based fuel was pumped into the retired destroyer, PAUL H. FOSTER, for the 20 hour trip...
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General Maritime Files Chapter 11, Declares $1.4 Billion in Debt

The U.S.’s second largest oil tanker owner files for bankruptcy protection in Manhattan.

The company said in a statement Thursday that the bankruptcy comes after a surplus of ships and a decreasing oil demand led to two years of losses. The New York based company reported $1.71 billion in assets and $1.41 billion...
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Tracking and Chain of Custody: The Difference

Op Ed by Dr. Jim Giermanski, Chairman, Powers Global Holdings, Inc. 

We often hear from the major logistics service providers about how good their tracking services are, and, in fact, they are pretty good.  But what they do not provide is a genuine chain-of-custody system even though some claim to do...
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Lawyers Say Somali Pirates Tortured Crew Onboard German Tanker

A federal court ruling reveals that Somali pirates tortured the crew onboard a hijacked German tanker to find more information about the ship’s fuel reserves and to extract a higher ransom.

The filing is part of a petition by the U.S. government to prosecute Mohammad Saaili Shibin – an accused pirate thought to be...
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USCG Cutter Disrupts $16 Million Cocaine Smuggling Attempts

EASTERN PACIFIC OCEAN -- The crew of U.S. Coast Guard Cutter Boutwell disrupted two drug smuggling operations resulting in 1,300 pounds of cocaine being destroyed at sea while on patrol off the coast of South America Nov. 3-4, 2011.

The first smuggling attempt was disrupted Nov. 3, when the crew of the Boutwell located a...
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General Dynamics Bath Iron Works Lays Keel of DDG 1000, First Zumwalt-class Destroyer

 

(BATH, Maine, Nov. 18, 2011 /PRNewswire/) -- On Thursday, November 17, General Dynamics Bath Iron Works celebrated the keel laying of Zumwalt (DDG 1000), the first ship in the planned three-ship Zumwalt class of guided-missile destroyers.  The keel unit is the 4,000-ton, heavily outfitted mid-forebody section of the...
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Parliament Approves €40 Million for Integrated Maritime Policy

 

MEPs gave their green light Thursday to allocate a €40 million budget to integrated maritime policy pilot programs and projects for 2011-2013. They struck an agreement with the Council at the first reading.

"This financial regulation will enable us to create synergies to support economic growth,...
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IMB Identifies Suspect Bills of Lading for West African Imports

The ICC International Maritime Bureau (IMB) has identified a number of suspect Bills of Lading for shipments into Nigeria.

The shipments, all containerized, were for small quantities of consumer products and were due to be shipped into Lagos. The Bills of Lading were all purportedly for cargoes transported by major...
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DAM999 - A Hollywood Movie by Mariners

‘DAM999’, produced by UAE based BizTV Network and directed by Sohan Roy, a Naval Architect by profession, is being released worldwide on the 24th of November. The 3D movie about a dam disaster, is touted as a movie ‘for the mariners from mariners’. With the main cast of the movie playing characters who are...
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Hornbeck Offshore Announces Shipyard Contracts for OSV Newbuild Program #5

Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today the execution of definitive contracts for the construction of sixteen high-specification offshore supply vessels ("OSV"), in connection with its latest newbuild construction program announced on November 7, 2011.  This is the Company's eighth newbuild vessel...
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Rasmus Folsø Joins DESMI Ocean Guard as Managing Director

Rasmus Folsø will join DESMI Ocean Guard A/S as Managing Director as of December 1, 2011

The present Managing Director, Christian Ing-vorsen, will be appointed Technical Director.

Rasmus Folsø is a naval engineering graduate (MSc in Engineering, PhD) and throughout his career he has been...
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Osage Re-Powers with Laborde and Mitsubishi

 

Although the basic design of inland towboats has not changed in decades, there is a revolution in their propulsion systems.  To meet strict environmental regulations while minimizing operating costs, Osage Marine Services has once again turned to Laborde Products to supply state-of-the-art Mitsubishi engines to...
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Norden A/S Copenhagen Selects Jotron Consultas for Software Support

The software will support Norden’s fleet management operations.

By a thorough and meticulous screening of what the market had to offer D/S NORDEN A/S selected the Norwegian-based Jotron Consultas AS as their future provider of fleet management software. The two parties have signed an agreement which includes...
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