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MarEx Newsletter | Op-Ed: No Country for Old Men, Concordia Salvage Bid Winner Announced

If you are experiencing problems viewing the newsletter, please Click Here << Previous Edition   Volume 10, Edition 49 (April 24, 2012) Share this Newsletter No Country for Old Men By Tony Munoz, Editor-in-Chief of The Maritime Executive and MarEx Newsletter A recent S&P credit-rating report on the end-of-life of the U.S. merchant marine fleet over the next few years read more like an obituary than a financial analysis: “Weak credit quality, challenging capital market conditions and reduced access to government-guaranteed loans could spell doom for many U.S. shipowners,” said S&P analyst Funmi Afonja. This particular report was particularly poignant because, while it is common knowledge that Capitol Hill is completely... Read More >> Costa Concordia Salvage Bid Winners Announced Wreck to be removed in one piece, refloated and towed away Costa Crociere and the Costa Concordia Emergency Commissioner’s Office announced that the tender for the removal of the ship from Giglio Island has been awarded to Titan... Read More >> Italian Tanker and Crew Freed from Somali Pirates Italian chemical tanker, Enrico Ievoli, and its crew have recently been released by the pirates who hijacked the vessel late last year off Oman's coast. The nearly 17,000-ton ship, owned by Naples-based Marnavi with a crew of six Italians, five Ukrainians and seven Indians, was seized in the Arabian Sea on December 27,... Read More >> Israeli Navy Releases Seized Ship Following Weapons Search On Sunday, Israeli naval forces seized a cargo ship in the Mediterranean based on suspicions of weapons smuggling.  Today, the vessel has been released after a military search turned up no weapons. The Liberian-flagged container ship, identified as the HS Beethoven, was intercepted about 160 miles off Israel for what... Read More >> EUNAVFOR Spanish Warship “Infanta Elena” Rescues Sri Lankan Fishermen From Pirates On Wednesday 18 April, EU Naval Force (EU NAVFOR) Spanish warship, ESPS Infanta Elena rescued 6 Sri Lankan fishermen and their fishing vessel from 7 suspected pirates.  The fishing vessel had been in the hands of suspect pirates since November 2011 and was reportedly being used as a mother-ship to launch attacks against merchant... Read More >> Ten Fishermen Rescued from Burning Ship in Pacific APRA HARBOR, Guam – The Coast Guard, U.S. Navy and Automated Mutual Assistance Vessel Rescue partners, coordinated in the rescue of 10 crewmembers forced to abandon ship due to a shipboard fire 700 miles west of Guam Saturday. Coast Guard Sector Guam watchstanders received an initial alert from an Emergency Position... Read More >> USGS Releases Global Estimate for Undiscovered, Technically Recoverable Conventional Oil and Gas Resources   WASHINGTON—Excluding the United States, the world holds an estimated 565 billion barrels (bbo) of undiscovered, technically recoverable conventional oil; 5,606 trillion cubic feet (tcf) of undiscovered, technically recoverable conventional natural gas; and 167 billion barrels of undiscovered, technically... Read More >> Cyprus Ships “Anti-Piracy” Bill Approved The Cyprus Shipping Chamber welcomes the adoption by the Council of Ministers, of a relevant Bill to combat Piracy on Cyprus ships. With the approval of this pioneering Bill, an innovative and detailed legislative framework is established for lawfully using armed... Read More >> Georgia Ports Hit Record Numbers in March Tonnage, auto/machinery units see all-time high The Georgia Ports Authority marked its highest monthly numbers ever in March, handling 2.37 million tons of freight. Some 85 percent of that... Read More >> Technologies for the Shipbuilding/Offshore Industries - Power & System Performance Are What's Called For System solutions weld more economically In shipbuilding, as in other metalworking industries, weld processes have to combine top-quality results with high cost efficiency. What users find most helpful is system solutions that are specifically geared to the needs of the shipbuilding and offshore plant... Read More >> Inland Salvage Inc. Successfully Completes Offshore Salvage Operations Inland Salvage Inc. recently conducted offshore salvage operations 40 nautical miles southwest of the Eugene Island, LA, successfully raising an Anchor Barge that sank in approximately 100 feet of water. They were called upon by the vessel’s owner to develop and execute a... Read More >> Proposed Acquisition of Fairstar by Dockwise to Accelerate Achievement of Strategic Goals Dockwise Ltd., indirectly, through its wholly-owned subsidiary Dockwise White Marlin B.V. (the "Company" or "Dockwise"), has   entered into share purchase agreements for the acquisition of approximately 54 % of the shares in Fairstar Heavy Transport N.V. ("Fairstar"), a company listed on the Oslo... Read More >> Cargotec Lands a 17-Machine Deal to Supply Europe's Leading Cargo Handler Cargotec has received an order to deliver 13 Kalmar reachstackers and 4 Kalmar empty container handlers to Europe Container Terminals (ECT), supported by a five-year maintenance agreement. The order has been booked for the first quarter of 2012. Cargotec... Read More >> Delivery of MARIN Mermaid Simulator to SMIT Towage Northwest Europe Since 2008, SMIT and URS have been training their tug masters in the Netherlands and Belgium with MARIN Mermaid simulators. As part of its Tug Master program, SMIT used a Compact Manoeuvring Simulator called “De Brug” for purposes of training and assessment at its office in Rotterdam. In parallel, URS carried out part of their... Read More >>   Home¬†|¬†News¬†|¬†Shipping¬†|¬†Tugs & Salvage¬†|¬†Business¬†|¬†Training¬†|¬†Shipbuilding¬†|¬†Offshore¬†|¬†Government¬†|¬†Magazine Advertising|About Us|Contact Us|Register|Newsletter Archives|Sign up for Free MarEx Newsletter|Advertise in Newsletter|Subscribe to Print Edition © Copyright 2011 The Maritime Executive, LLC. All rights reserved.Privacy policy.

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