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Harren & Partner to Acquire SAL Heavy Lift

Photo: SAL Heavy Lift

 Bremen-based shipping company Harren & Partner and "K" Line, Tokyo, have reached an agreement for Harren & Partner to acquire German carrier SAL Heavy Lift today (27 July 2017).    SAL will become the new dominant player in the super heavy lift segment (900 t to 2,000 t crane capacity).   SAL Heavy Lift,

Diana Containerships Announces 1-for-6 Reverse Split

Photo: Diana Containerships Inc

 Diana Containerships, a global shipping company specializing in the ownership of containerships, has announced that its Board of Directors  has determined to effect a reverse stock split of the Company’s common shares, par value $0.01 per share, at a ratio of one-for-six.   The Company’s shareholders

France to Nationalize STX if Italy Deal Fails

File Image (CREDIT: AdobeStock / (c) Burnel11)

French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until Thursday.   The French state said on Wednesday it would nationalise the STX France shipyard if Italy does not accept its offer to split STX's capital equally, putting down a marker on the limits of economic liberalism under new President Emmanuel Macron.

ReCAAP, OCIMF Sign Asian Anti-Piracy MoU

ReCAAP Information Sharing Centre Executive Director Masafumi Kuroki (L) and OCIMF Director Andrew Cassels affirm shared interest and collaboration with MOU. Photo provided by ReCAAP Information Sharing Centre

The safety of navigation is vital to the safety, security and economic activities of all stakeholders traversing sea routes in Asia—the region with some of the busiest seas in the world.    Recognising this shared interest, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against

Op/Ed: The Real Story Behind the Attack on SMFF Regulations

Todd Schauer (Photo: ASA)

ASA Sets the Record Straight.   The U.S. salvage industry came under attack at a recent Congressional hearing on May 3 by a special commercial interest that is promoting its own agenda. The American Salvage Association (ASA) intends to set the record straight. At the hearing, the attacking group made

Certification for MOL Environmental Management System

Image: MOL

 Mitsui O.S.K. Lines (MOL) has announced that on July 20, its core dry-cargo ship management company, MOL Ship Management  received a new certification of its Environmental Management System ISO14001: 2015 and Energy Management System ISO50001from Nippon Kaiji Kyokai (ClassNK) after undergoing stringent transition audit and renewal audit processes.

Nautical Institute Rolls Out Ice Navigator Scheme

Logo Image: The Standard Club, Nautical Institute

 The Standard Club has advised its members that at the start of July the Nautical Institute launched its Ice Navigator Scheme. This scheme is designed to help meet the demand for properly trained officers with the skills and knowledge to handle a ship in ice.   The scheme is designed to run in conjunction

India: The Admiralty Bill 2017 Gets Upper House Nod

Indian Prime Minister, Narendra Modi. Photo: PIB

 Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2017, introduced during the Winter Session of Indian Parliament came up for discussion in the Rajya Sabha (Upper House) and was passed unanimously by the house.    The Bill aims to establish a legal framework for consolidation of related

Songa Offshore Wins in DSME Arbitrations

Songa Equinox. Photo: Songa Offshore

 Songa Offshore had submitted its defence to the claims asserted by Daewoo Shipbuilding & Marine Engineering (DSME) in arbitrations related to the Songa Equinox, the first Cat D rig, and the Songa Endurance, the second Cat D rig, in which DSME asserted aggregate claims of USD 329 million, along with

Tanker with Disputed Kurdish Oil Reappears off Malta

The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30, when it was chartered by oil trader Vitol carrying Iraqi Kurdish crude oil, Reuters ship-tracking showed on Friday.   The tanker had been heading to eastern Canada to discharge the cargo at the

A Significant Date for Subchapter M

© hildeanna / Adobe Stock

July 20 marks a milestone in Subchapter M implementation.   Towing vessels with keels laid or major conversions on or after July 20, 2017 are required to meet 46 CFR Subchapter M and obtain a Certificate of Inspection (COI) prior to operating.   Additionally, starting July 20, 2018, a portion of

Baltic Index Win Streak at 9 Straight Days

File Image (CREDIT: AdobeStock / Lucasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the ninth straight session, on higher rates for capesize and smaller vessels.   The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.

US Fines Exxon Mobil Over Ukraine-related Sanctions Violations

The U.S. Treasury Department on Thursday announced a civil penalty against Exxon Mobil Corp and its U.S. subsidiaries for violating sanctions regulations related to Ukraine in May 2014, fining the global oil company $2 million. Treasury’s Office of Foreign Assets Control (OFAC) found ExxonMobil had not voluntarily self-disclosed the violations,

Maersk Temporarily Exempt from Service Contract Filings

(File photo: A.P. Moller - Maersk)

I voted in favor of Maersk Line A/S’ petition for Temporary Exemption Service Contract Filings as a result of the so-called Petya virus which severely disrupted Maersk’s information systems, including the system that stores service contract data. Due to this cyber attack, Maersk Line had been unable

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