Maritime Risk Symposium 2020: Maritime Resilience in Black Swan Events
In 2007, scholar Nassim Nicholas Taleb, who holds a doctorate from the University of Paris, wrote a bestselling book titled “Black Swan,” which proposed a theory involving unpredictable events with significant impact. Taleb believed that a black swan event was an outlier with significant impact and, once it occurs, is the source of deep reflection and rationalization. Since the book’s publication, a significant number of research efforts have been developed to consider possible black swan events that significantly impact the Maritime Transportation System (MTS) and the Maritime Global Commons.
Congress Responds to COVID19 and Other Challenges for the Maritime Industry
In response to the worldwide COVID-19 pandemic, the Congressional Research Service released a report that stated global economic growth has declined by 3% to 6% in 2020 with a partial recovery predicted for 2021. Also, the GDP of the U.S. has fallen by 5% in the first quarter 2020. According to the International Maritime Organization (IMO), the maritime industry, and seafarers themselves, have not been able to escape the significant effects of this crisis.All sectors of the maritime industry have been adversely affected by the global pandemic.
COVID-19 & the US Workboat Market: Business Continuity, Not Business as Usual
In today’s environment, the overarching challenge for the American tugboat, towboat and barge industry is to continue transporting the vital commodities that help keep our nation’s economy moving during a highly uncertain time, while taking all necessary measures to ensure the health and safety of our workforce as the COVID-19 pandemic continues to evolve – in other words, to ensure business continuity, while recognizing we are not, nor can we be, going about business as usual.
Safeguarding the Maritime Transportation System During the COVID-19 Pandemic
The marine transportation system (MTS) is critical to both our national security and economic prosperity. The U.S. Coast Guard has an enduring responsibility to safeguard the MTS and enable the uninterrupted flow of maritime commerce. While Coast Guard Prevention missions normally address the systemic risks to the MTS through a variety of regulatory and compliance activities on a day-to-day basis, the COVID-19 response demands a flexible approach to prevent an undue backlog from causing MTS delays today and in the near term.
IMO Urges Governments to Allow Crew Changes
United Nations shipping agency the International Maritime Organization (IMO) has echoed industry calls for governments to grant special travel exemptions to seafarers in response to the COVID-19 pandemic.In a Circular Letter (link) issued on Monday, the IMO distributed a series of recommendations for governments and relevant national authorities, proposed by a broad cross-section of global industry associations representing the maritime transportation sector.The Circular Letter specifically calls on governments to designate professional seafarers and marine personnel…
Dredging: Essential Critical Infrastructure Workforce
On Thursday, the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) released guidance to help state and local jurisdictions and the private sector identify and manage their essential workforce while responding to COVID-19.The Dredging Contractors of America (DCA) helped the federal government develop this first-of-a-kind guidance on Essential Critical Infrastructure Workers.“This is why Government Coordinating Councils and Sector Coordinating Councils are so important.
24/7 Voyage Security Risk Assessment … at the click of a mouse
Risk Intelligence provides security data, information, analysis and assessment to enable safe navigation in areas of risk in an increasingly uncertain worldSince its founding in 2001, Denmark-headquartered security information specialist Risk Intelligence has developed a fully integrated risk assessment and planning tool that provides valid, actionable intelligence to any fleet, on land, in port or at sea, 24/7/365. The company has three information and intelligence products that together assess security risks at sea…
Grindrod Shipping Acquires IVS Bulk Stake
The global provider of maritime transportation services in the drybulk and product tanker sectors Grindrod Shipping Holdings announced acquisition of an additional 33.25% stake in its IVS Bulk joint venture and the sale of the 2010-built small product tanker Kowie.A subsidiary of the company, Grindrod Shipping Pte. Ltd (GSPL) has agreed to acquire the 33.25% ordinary and preferred equity shares held by one of its two JV partners in IVS Bulk for a total consideration of $44.1 million, thereby increasing its stake to 66.75%.
Iran, Syria Ink Maritime Agreement
Iran and Syria have signed an agreement on mutual maritime cooperation during the sixth round of joint maritime committee meeting on the maritime and port cooperation.The Managing Director of Iran's Maritime and Port Organization (PMO) Mohammad Rastad, and the Syrian Deputy Minister of Maritime Transportation Mohammad Ammar Kamal Al-Din, signed the agreement.The agreement has emphasized the expansion of maritime cooperation, as well as maritime education and training together…
Risk Management with a Mouse Click
Risk Intelligence provides security data, information, analysis and assessment to enable safe navigation in areas of risk in an increasingly uncertain world.Since its founding in 2001, Denmark-headquartered security information specialist Risk Intelligence has developed a fully integrated risk assessment and planning tool that provides valid, actionable intelligence to any fleet, on land, in port or at sea, 24/7/365. The company has three information and intelligence products that together assess security risks at sea…
USMMA Board of Visitors to Convene
U.S. Transportation Secretary Elaine L. Chao has announced the U.S. Merchant Marine Academy’s (USMMA) new 16 member Board of Visitors will convene for the first time at Kings Point on Monday, February 3 at 9:00 a.m. (click here for additional information). The Board will serve through October 2021.“The Department is dedicated to providing midshipmen with the finest possible education, preparing them to excel as mariners and military officers,” said U.S. Transportation Secretary Elaine L.
FESCO Transports RTG Cranes Via NSR
FESCO Transportation Group, the largest intermodal transport operator in Russia, has performed relocation of four Liebherr rubber tyred gantry (RTG) cranes from Petrolesport (part of Global Ports Group) in St. Petersburg to Vostochnaya Stevedoring Company (part of Global Ports Group) in Vrangel (Primorsky Krai)."To ensure minimum transit time, the transportation of RTG cranes was carried out along the Northern Sea Route. The sea passage took 28 days, while transit time on the route through the Suez Canal would take about 52 days…
Grindrod Eyes Stake in IVS Bulk JV
Singapore-headquartered provider of maritime transportation services in the drybulk and product tanker sectors, Grindrod Shipping Holdings is planning acquisition of an additional 33.25% stake in its IVS Bulk joint venture."Grindrod Shipping is progressing negotiations to acquire all of the 33.25% ordinary and preference shares in IVS Bulk held by one of its two JV partners for approximately $44.2 million, thereby increasing our stake in the JV to 66.75%," said a press release from the provider of dry-bulk and liquid shipping services.
Iran-Muscat Ferry Soon
A direct Chabahar-Muscat ferry line between Iran and Oman is planned to resume operation within a month, said Iran's official news agency.Ferries with the capacity of transporting 240 people and 40 vehicles will operate between Iran’s Chabahar port and Oman capital will be operational within a month, according to Hassan Ebrahimi, a deputy with the Ports and Maritime Department of Sistan-Baluchestan Province (where Chabahar port lies).After launching services to Qeshm Island and Bandar Abbas in Iran in 2016…
Gasum Makes its 1st Cruise Ship STS LNG Bunkering
The Nordic energy company Gasum said that its liquefied natural gas (LNG) bunker vessel Coralius conducted first ever ship-to-ship (STS) bunkering to a cruise ship - Carnival Corporation's cruise vessel Costa Smeralda.During the bunkering operation, LNG was supplied to the newbuild Costa Smeralda at the Meyer Turku shipyard. Costa Smeralda is the first cruise ship in a series of newbuilds at Meyer Turku that will be fitted with LNG propulsion.LNG is the cleanest available marine fuel…
Grindrod Announces Finance Arrangement
Grindrod Shipping Holdings, a global provider of maritime transportation services in the dry-bulk and product tanker sectors, announced a number of transactions relating to a new financing arrangement, its fleet and share repurchases."Further to the previously-announced financing arrangements in respect of IVS Knot and IVS Kinglet, we expect to enter into a similar financing arrangement with a Japanese shipowner in respect of the 2011-built handy-size dry-bulk carrier, IVS Magpie…
Diversity, Tech on Tap at WISTA Conference
A top hostage negotiator, the CEO of a company which supplies environmental products to ship owners and operators and the heads of two maritime technology firms are all part of an impressive line-up of speakers scheduled to speak at the 2019 Women’s International Shipping & Trading Association (WISTA) AGM & Conference which takes place next week from Tuesday, October 29, to Friday, November 1. The four-day event is being hosted by WISTA Cayman Islands and is expected to bring over 200 maritime experts from 30-plus countries.
Maritime Risk Symposium, Nov. 12-15 at SUNY Maritime
The State University of New York Maritime College, in collaboration with the U.S. Coast Guard, National Academy of Sciences, academic institutions, industry partners, and federal, state and local agencies, will host the 10th Annual Maritime Risk Symposium (MRS 2019) Nov. 13-15, 2019, at New York Maritime College located in the Bronx, New York.MRS 2019 will bring together academics, government and commercial entities to discuss the threats, challenges and risks associated with the Marine Transportation System with a focus on current and future marine transportation challenges and threats.
Mitigating Maritime Risk
“The First Steps in Mitigating Contemporary Risks to our Strategic Sea Lines of Communication”It is indisputable that the world’s economy floats on seawater. It is equally indisputable that international maritime transportation is the tool that keeps the global economy moving. The world economy has surged over the last half century, and that growth has been largely driven by globalization and the consequent reduction in barriers to trade. Any operational disruptions in maritime transportation have wider consequences for society…
U.S. Congressman Elijah Cummings Passes Away at 68
At approximately 6:20 AM this morning, the Office of Congressman Elijah E. Cummings Released the Following Statement:At approximately 2:30 A.M. on Thursday October 17, 2019, Congressman Elijah E. Cummings (MD-07) passed away at Gilchrist Hospice Care, a Johns Hopkins affiliate, due to complications concerning longstanding health challenges. More details will be forthcoming.The energetic Cummings was best known in maritime circles for his time spent as chair of the Subcommittee on Coast Guard and Maritime Transportation where…
Qatar, Shell Partner on LNG Bunkering
State-owned Qatar Petroleum and the Netherlands-based oil and gas company Shell signed a shareholder agreement to establish a joint venture for global LNG bunkering services.The agreement signed by Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B.V. paves the way for the establishment of a joint venture company owned equally by both parties, subject to customary regulatory approvals.The new company’s principal business activities will include the procurement of LNG…
Marlink ITLink for J. Lauritzen Gas Carriers
Danish shipping company J. Lauritzen has selected Marlink to deploy fully integrated and managed IT services on all Lauritzen Kosan managed gas carriers. The solution will be based on Marlink’s ITLink portfolio, with the KeepUp@Sea platform enabling automation of software and security updates, network and PC health monitoring and remote access for fast issue resolution. Once implemented, Lauritzen Kosan will benefit from a fully standardized ICT setup across its fleet, and have…
Grindrod Shipping Updates on Fleet
Grindrod Shipping Holdings, a global provider of maritime transportation services in the drybulk and product tanker sectors, announced that it took delivery of the IVS Phoenix, a Japanese-built eco ultramax drybulk carrier newbuilding in June 2019. The vessel has been chartered-in from its owner for a minimum period of three years with options to extend for up to two additional years, at Grindrod Shipping’s election, it said.The Singapore-based company said that it sold the 2005…
Mitsubishi Wins Order for Two Ferries
Mitsubishi Shipbuilding Co., Ltd., a group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Yokohama, has received orders for two large, high-speed ferries from Shin Nihonkai Ferry Co., Ltd. The vessels will be constructed at the Tategami Main Plant of MHI's Nagasaki Shipyard & Machinery Works, scheduled for completion and delivery in 2021.The two ferries on order will be 222.5m long, 25m wide, 20.4m deep, with draft of 7.4m and gross tonnage of approximately 15,400. Each vessel features capacity of 268 passengers, 154 trucks (12m length) and 30 passenger cars approximately.
NWSA Terminal 46 Request for Proposals
The Northwest Seaport Alliance (NWSA), a marine cargo operating partnership of the ports of Tacoma and Seattle, is now accepting proposals for Terminal 46, a 50-acre deep-water marine terminal.The port authority based in the Puget Sound region of the United States said that the successful proposal will align with and support our goal of growing cargo volumes and creating family-wage jobs in the Puget Sound region, while diversifying the gateway’s overall cargo portfolio.Strategically located on the Seattle waterfront with convenient access to major road and rail infrastructure…
Total’s First LNG Bunker Vessel Launched
Total said its first large liquefied natural gas (LNG) bunker vessel has been launched, following the signature of a long-term charter contract between Total and Mitsui O.S.K Lines (MOL) in February 2018.After delivery in 2020, the bunker vessel will operate in Northern Europe, where it will supply LNG to commercial vessels, including 300,000 tons per year for CMA CGM’s nine ultra-large newbuild containerships in Europe-Asia trade, for a period of at least 10 years.The LNG bunker…