THE London P&I Club has set a general increase of five per cent in annual P&I call rates for the 2012/2013 policy year. Commenting on the background to the decision, Ian Gooch, chief executive of the club’s management team, says, “Prior open policy years are developing in line with expectations…
The Bit Viking is reportedly the world's first vessel in service whose main machinery has been converted to burn LNG as fuel. She is also the largest commercial vessel which is not an LNG tanker, to use LNG as fuel. After the conversion which…
IHC Merwede appointed Denis Welch as its CEO for South East Asia. He will be responsible for helping the company to reinforce its regional identity and expand its Asian-centred operations – which are focussed on its offshore and marine activities…
According to a report on Bloomberg, Brazil’s VALE may have made a very bad investment in one of the most heralded shipbuilding ventures of a generation.About three years ago the Brazilian mining giant announced its plan to build an impressive…
The American Club is seeking a 5% increase in all classes of premium (mutual and fixed-premium) for both P&I and FD&D for the 2012 policy year that starts on February 20 next. • S&P rating upgrade• Steady growth in tonnage continues• Solid…
Cargotec appoints Tom Svennevig Vice President for MacGregor advanced load-handling business. Cargotec has appointed Tom Svennevig as Vice President responsible for the company's advanced load-handling business line as of 24 October 2011…
Do they save you time, money, and aggravation?• CautionOver the last decade, the legal community has embraced alternative dispute resolution modalities, such as mediation and arbitration, as tools to resolve disputes between litigants…
IHC Merwede strengthens its internationalisation strategy with new CEO for South East Asia.IHC Merwede, a global maritime, engineering and manufacturing group, has appointed Denis Welch as its CEO for South East Asia. He will be responsible…
Continuing to expand its vast worldwide network, Sea-Fire has appointed a new UK distributor. Based in Southampton, England, Ocean Safety Ltd. specializes in marine safety equipment.'We are delighted to partner with Ocean Safety,' said Richard Duckworth…
In its summary of interim report Q3 2011, Nordic Tankers said that in the third quarter of 2011 the time charter equivalent (TCE) revenue dropped back to the low levels of the first quarter of 2011. The main reason was the continued weak freight rates…
Hapag-Lloyd generated an operating result (adjusted EBIT) of EUR 36.7 million in the third quarter 2011. This took the operating result for the first nine months of the current financial year to EUR 78.8 million. EBITDA came to approx. EUR 275 million in the first nine month of 2011…
NecesSea, L.L.C., a new private company in Covington owned by Jennifer Comeaux will launch its management solutions software for the Oil & Gas Industry during Workboat 2011 on November 30, in New Orleans. A demonstration and launch party will be held at the New Orleans Marriott…
Capital Product Partners L.P. (NASDAQ: CPLP) secured long term fixed rate time charter employment with profit share arrangements for its remaining spot VLCC, the M/T Achilleas. In particular, the M/T Achilleas (297,863 dwt, built 2010 Universal Shipbuilding Corp…
Signal International announced that on November 16, 2011, its Texas Operations in Orange, Texas achieved one full year, working 451,116 man-hours, without the occurrence of an OSHA recordable incident, a significant safety milestone within the U…
Local relationships, backed by 80 years of experience, help this independent engineering and design firm make waves in the competitive Gulf Coast design and build markets. Founded in 1929, Gibbs & Cox naval architects have designed warships and auxiliaries in the U…
