Thursday, March 29, 2012

MarEx Newsletter | Somali Pirates Demand Almost $3Mil Ransom, Tug Ablaze in Lake Ontario

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Somali Pirates Ask For Nearly $3Mil Ransom To Free Ship & 23 Crew

Somali pirates have been holding the MV Albedo captive for over a year. A Pakistani negotiator for the Malaysian-owned vessel now claims he has reached an agreement to free the crew in exchange for a nearly $3 million ransom.

The negotiator can ensure the freedom of the 23 captured crewmen after a ransom payment of $2.85 million per their agreement. As he did not confirm who exactly is providing the money, he did say it will be delivered via plane by April 20 to the kidnappers.

The ship was hijacked in the Gulf of Aden in November 2010 en route to Kenya. Its...
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Corporate News Press Releases
U.S., Canadian Rescue Crews Respond to Tug Fire in Lake Ontario

U.S. Coast Guard marine inspectors are monitoring the U.S.-flagged, 105-foot tugboat Patrice McAllister, which caught fire with six people aboard in the Canadian waters of Lake Ontario about 2 a.m., Tuesday.

Watchstanders at Coast Guard Sector Buffalo received an alert from an emergency position indicating radio beacon...
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Join Maritime Leaders in May at Revitalizing the Maritime Industry: A Maritime Forum

The Maritime Executive is hosting Revitalizing the Maritime Industry: A Maritime Forum at CCMIT in Linthicum Heights, Maryland May 7th & 8th.

This timely conference is focused on jumpstarting the U.S. maritime sector and creating much needed jobs for America. Many of the leading maritime companies...
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EU Naval Force Ensures Pirate Action Group is Incapable of Further Crime

On March 26, the EU Naval Force Flagship ESPS Patino located a Yemeni registered dhow that was suspected of being involved in acts of piracy off the Somali coast.

The previous day a merchant vessel had reported that it had evaded an attack by two skiffs.   As she was close by, ESPS Patino was tasked to investigate the...
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Scandal Trial Begins for Vietnam Shipbuilding Company Executives

Former leading Vietnam executives have begun trial under accusations of bringing one of the country’s largest state-owned companies to the edge of bankruptcy after allegedly violating regulations.

The Vietnam Shipbuilding Industry Group (Vinashin) accumulated debts of more than $4 billion due to rapid expansion. BBC...
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Shell's Arctic Drilling Dreams Supported by Brand New Icebreaker

Shell Oil’s offshore drilling determinations will now be supported by a brand new icebreaking vessel that will soon make its way to the Arctic.

The Aiviq was christened over the weekend in Louisiana at Port Fourchon and Shell officials state that the newbuild was specifically constructed by Edison Chouest to work in...
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China To Reinforce Territorial Claims in South China Sea, Despite Opposition

As China is in the midst of several maritime disputes with its neighbors, the country has announced that it is currently mapping the South China Sea (SCS) with the intended goal of oil and gas exploration, as well as to underline its territorial claims. Geographical surveys of the area are underway.

By creating this map, China...
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Greek Shipping Company to Pay $2 Million for Intentional Cover-Up of Oil Pollution

Ilios Shipping Company S.A. was sentenced in federal court in New Orleans for violating the Act to Prevent Pollution from Ships (APPS) and obstruction of justice, announced Assistant Attorney General Ignacia S. Moreno and Jim Letten, U.S. Attorney for the Eastern District of Louisiana.

Ilios operated the M/V Agios Emilianos, a...
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Shipbuilder and Ship Engine Manufacturer to Pay for Clean Air Act Violations

First Enforcement Action Under Marine Diesel Engine Air Rules

Coltec Industries Inc. and National Steel and Shipbuilding Company (NASSCO) have agreed to pay a civil penalty of $280,000 and spend approximately $500,000 on an environmental project to resolve alleged violations of the Clean Air Act (CAA) and EPA’s...
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Next Steps for Potential Energy Development in the Mid- and South Atlantic Announced

As part of President Obama’s all-of-the-above energy strategy, Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced that Interior is taking steps to assess the conventional and renewable energy resource potential in the Mid- and South Atlantic. The draft...
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Subcommittee Reviews Budget Priorities for Army Corps of Engineers

The Water Resources and Environment Subcommittee, chaired by U.S. Rep. Bob Gibbs (R-OH), held a hearing to receive testimony from the Army Corps of Engineers on their proposed budget and program priorities for Fiscal Year 2013.

The Corps of Engineers provides water resources development projects for the nation, usually through...
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Keppel to Build Repeat Accommodation Semi Worth US$315 Million for Floatel

Keppel FELS Limited (Keppel FELS) has entered into a Letter of Intent (LOI) with returning customer, Floatel International Ltd (Floatel), to build a new generation harsh environment accommodation semisubmersible (semi) worth US$315 million for delivery in July 2014....
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Hempel Shows Significant Growth in a Turbulent Market

Driven by growth through a strategic acquisition in the decorative coatings market, Hempel’s revenue grew by 21 per cent in 2011, passing the EUR one billion milestone for the first time

The Hempel Group delivered an operating profit of EUR 72 million in 2011, and a record turnover of EUR 1,077...
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