A two-day underwater examination conducted by Transocean (NYSE: RIG) (SIX: RIGN) and the US Coast Guard (USCG) on October 4th and 5th confirmed that there are no hydrocarbons leaking from of the sunken Deepwater Horizon or the riser, the pipe…
“We have reached the end of our tether on piracy,' ICS Chairman tells India Shipping Summit. “The world community cannot tolerate the abuse and the killing of seafarers,” ICS Chairman Spyros M Polemis told seafarers and maritime industry professionals in India today (Oct 11th)…
MEBA accuses operator of creating labor dispute and delaying important cargoes. AMO enters into new collective bargaining agreement with Liberty. On Monday, Liberty Maritime Corporation announced that it had entered into a new collective…
In the last few days the number of pirate attacks off the coast of Somalia has increased highlighting the fact that now the monsoon is weakening, the pirates are once again ready to attack merchant ships transiting through the Indian Ocean. MC Northwood's Chief of Staff…
Two Somalis Sentenced to Life in Prison for Acts of Piracy Against the S/V Quest. Muhidin Salad Omar, a/k/a “Muhiyaden Salad,” a/k/a “Gurdan,” a/k/a “Gardan,” a/k/a “Gurden,” a/k/a “Muhdin,” a/k/a “Dudan,” 30, and Mahdi Jama Mohamed, a/k/a “Mahdi…
New Capital Structure Provides Opportunity for Significant Deleveraging. Horizon Lines, Inc. (NYSE: HRZ) today announced that it has completed a comprehensive refinancing of the company's entire capital structure. The new capital structure…
Omega To Continue To Operate in the Ordinary Course of Business. Omega Navigation Enterprises Inc. (ONAVQ) announced today that, in connection with its Chapter 11 proceedings in Houston, Texas, the Court has granted the continuing use of cash collateral through December 12…
THE London P&I Club has warned that shipowners face a significant increase in exposure to claims and fines levied against them in jurisdictions which suffer from a combination of high interest rates and a reputation for protracted legal proceedings…
Liberty Maritime Corporation (Liberty Maritime) of Lake Success, New York today announced that it has entered into a new collective bargaining agreement with the American Maritime Officers (AMO) union under which the AMO will provide U.S. citizen…
The St. Lawrence Seaway Management Corporation (SLSMC) was served with a notice by the Canadian Auto Workers Union (CAW) at 12:00 noon today of its intent to begin strike action on Monday, October 3rd at 12:00 noon. The CAW represents the Seaway’s 475 unionized employees…
The U.S. Coast Guard announced Friday that, in cooperation with federal and international partners, it has seized a fishing vessel and crew suspected of large-scale illegal high-seas drift net fishing in the North Pacific Ocean and is delivering…
The UK P&I Club recently completed a series of three short articles which provide a user friendly guide to the mystery surrounding electronic chart display and information systems (ECDIS). These have now been consolidated into a 16-page booklet…
The operation of vessels in international commerce has never been more complicated than it is today, particularly from the standpoint of regulatory compliance. A vessel operator must be cognizant of international, national, state and local regulatory requirements…
Oil Spill Proceeds Of Settlement to Fund Projects and Restore Natural Resources Largest Oil Pollution Act Settlement in History of the Law. Federal, state and Bay-area officials announced a comprehensive civil settlement with the owners and operators of the M/V Cosco Busan…
Company Makes $7.0 Million Semi-Annual Interest Payment on 4.25% Convertible Notes within Grace Period. Refinancing of Company's Capital Structure on Schedule.Horizon Lines, Inc. (NYSE: HRZ) today announced that it has closed on a bridge loan facility of up to $25…
