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SAAM Acquires Intertug

Image: Sociedad Matriz SAAM S.A

Chilean logistics company SAAM has struck a deal to buy Intertug Investment Holding, a towage services company with operations in Colombia, Mexico and Honduras.SAAM will spend $54.5 million for 70% of Intertug, based on an enterprise value of $98 million, and carry out the acquisition through a capital increase and a share purchase,

Master Fined for Delayed Engine Failure Reporting

© Rene van Quekelberghe / MarineTraffic.com

A tanker captain has been convicted and fined for failing to immediately alert Australian authorities of a main engine breakdown in 2019.On January 31, 2019, the tanker Asphalt Spirit suffered a main engine breakdown and began drifting 30 kilometers northeast of Point Lookout on North Stradbroke Island while carrying 14,

Beware of the Nominal Entity

© hildeanna / Adobe Stock

Make sure you know who you are really contracting with.A famous U.S. politician once insisted that “it takes a village to raise a child.” That said, any marine operator will tell you that it takes an even larger village and a ridiculous number of contracts to operate a vessel, and even more to manage a fleet of vessels.

The Good, the Bad and the Undeniably Ugly

© SunnyS / Adobe Stock

The end of 2019 promises to be a busy, and potentially discordant, legislative and regulatory period for the United States maritime industry as both Congress and the Executive Branch look to take decisive action, with both positive and negative potential impacts depending on your perspective. With appropriation

Prosafe Misses Payment to Cosco

Image: Prosafe SE

The largest and most versatile fleet of semi-submersible accommodation vessels in operation worldwide Prosafe SE has missed its final payment to China’s Cosco shipyard for the Safe Notos flotel.Offshore accommodation specialist  informed last November that it had re-evaluated its outlook and revised

Kongsberg Maritime Shuts Down KM Contros

Image: Kongsberg Maritime

Kongsberg Maritime (KM), a Norwegian technology enterprise within the Kongsberg Gruppen, informed that it has suspended the sale of the previously announced German KM Contros GmbH to AML Oceanographic Ltd. (AML).Following a strategic evaluation and prioritization of the KM business in 2019, the company decided to divest Contros,

Maersk Tankers Launches New Digital Venture

Christian M. Ingerslev, CEO. Photo: Maersk Tankers

Maersk Tankers is launching a new standalone digital business to reduce CO2 emissions and optimize vessels’ earnings across the tramp shippig industry.Soren C. Meyer is moving from Chief Asset Officer to Chief Executive Officer of the new digital venture.The as-yet-unnamed business will develop and

IMO 2020: U.S. Restricts the Use of Certain Fuels in Scrubber Vessels

Copyright: diegocardini/AdobeStock

With the January 1 implementation of IMO 2020, which requires dramatic reductions in the sulfur content of emissions from ocean-going vessels, the United States government issued a new rule that it asserts actually facilitates the distribution of compliant fuel.The US Environmental Protection Agency

Op/Ed: What Good Boats Can Do

(Photo: OMSA)

Stay in your lane. Ignoring such wisdom can result in catastrophe if you’re drag racing and lead to general unpleasantness on bowling league nights. This same guidance in other circumstances, for example, can be toxic. It can inhibit innovation and, at the worst possible moment, prevent the sensible

EU Shortsea Shippers Challenge ITF Longshore Clause

A shortsea cargo movment on the Danube river. CREDIT: AdobeStock / © digitalstock

European short-sea and feeder lines challenge legality of Dockers' Clause extension.European short-sea and feeder ship operators are challenging efforts by the International Transport Workers’ Federation (ITF) to redefine container lashing as a cargo handling activity in order to bring it under the control of unionized dockers.

The Top 10 Workboat Stories for 2019

Credit: St. Louis Regional Freightway

Choosing the year’s ‘top stories’ is always a difficult task. Many compelling story threads played out, each dramatically impacting the North American waterfront, and in particular, the workboat sector – each in their own unique way.The Infrastructure Battle ContinuesThe EXECUTIVE SUMMARY H.R. 2396,

Five Common Mistakes in Maritime Contracts

Copyright: byemo/AdobeStock

“An ounce of prevention is worth a pound of cure.” – Henry de Bracton, DeLegibus, ~1240Often clients or prospective clients come to me with a commercial contract issue perched on the precipice of full-blown litigation or arbitration. When I ask to see the contract, often times I see

Seven Dead in Migrant Boat Sinking

Seven people died and 64 were rescued when a boat carrying migrants from Pakistan, Bangladesh and Afghanistan sank on Thursday in eastern Turkey's Lake Van, the governor's office in Bitlis province said.The boat sank after capsizing as it approached Adilcevaz district in Bitlis, which is on the northern shores of Lake Van,

Bourbon Assets Taken Over by Creditor Banks

File image of a Bourbon offshore support vessel underway. CREDIT: Bourbon

French marine services group Bourbon Corporation, which has been in a court restructuring process after its business was hit by volatile energy markets, said its assets would be taken over by its creditor banks.Bourbon said the Marseille commercial court had ruled that Bourbon's assets would be transferred

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