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Pacific Radiance Wins Case Against Chinese Yard

Image: Pacific Radiance

Singapore-based offshore vessel operator Pacific Radiance has won an arbitration award against a Chinese shipyard in a case involving two cancelled platform supply vessels (PSVs).The arbitral award provides for the refund of the pre-delivery instalment amounting to $2.8m along with contractual interest

Improper Crane Use Caused Crew Death -USCG

Inadequate training and improper shoreside crane operations were found to be the cause of a fatal accident earlier this year in the US Coast Guard buoy yard in Homer, Alaska.A shoreside crane mishap on January 31 lead to the death of Chief Warrant Officer Michael Kozloski, who was working in the buoy yard at the time of the accident.

Golar Spins Off TFDE LNG Biz

Pic: Golar LNG

Liquefied natural gas (LNG) shipper Golar announced that it has decided to proceed with a spin-off of its Tri-Fuel Diesel Electric (TFDE) LNG carrier business as well as to focus its activities primarily on floating liquefied natural gas (FLNG) and downstream assets.According to a stock exchange announcement,

Brookfield Eyes TeeKay Offshore Partners

Pic: Teekay Offshore Partners

Canada-based Brookfield Business Partners has made an offer to purchase the publicly traded units of Teekay Offshore Partners (TOP), midstream services provider to the offshore oil production industry,  that it doesn't already own.The offer was for $1.05/unit–shares are trading at that level now–no premium in the offer.

Norway Hits GCL with Sulfur Fine

MS MAGELLAN: Documentation shows that the ship has entered two world heritage fjords with sulphur values far beyond the legal limit values. Photo: Sjøfartsdirektoratet

The Norwegian Maritime Authority (NMA) has fined Greek cruise ship operator Global Cruise Lines (GCL) for using 0.17 percent sulfur fuel in a 0.10 percent sulfur ECA zone.NMA informed that MS Magellan, which is owned by the Greek company GCL, has violated the legislation on fuel sulphur limits in the

Cameroon Readies for IMSAS

Pic: International Maritime Organization (IMO)

Auditing International Maritime Organization (IMO)  Member States to assess how effectively they enforce key IMO treaties is an important part of the Organization's work to ensure its regulatory framework is universally adopted and implemented.IMO's Member State Audit Scheme (IMSAS) is

Naval Group Might Look at Thyssen's Marine Unit

France's Naval Group would consider buying Thyssenkrupp's marine division if the German steel-to-submarines conglomerate were to offer the unit for sale, a German newspaper cited a source close to the French group as saying."We will look at the marine business of ThyssenKrupp if it is put on sale,"

EnscoRowan Wins Arbitration Against SHI

File photo: Ensco Rowan

Offshore drilling services provider EnscoRowan announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the company will be claiming interest on this amount and costs incurred in connection with the matter.

IMO Workshop on NMTP in Caribbean

Pic: International Maritime Organization (IMO)

The Caribbean Country of Saint Kitts and Nevis is the latest country to benefit from International Maritime Organization (IMO)’s work promoting good maritime governance practice – through a National Maritime Transport Policy (NMTP) workshop, underway in Basseterre (14-16 May).The event brought

Marine Fuel Rules to Disrupt Markets for 1-5 years

File Image: AdobeStock / © 14KT Gold

The marine industry's January 2020 shift to using very low sulfur fuel oil (VLSFO) to power ships worldwide will launch a one- to five-year disruption in oil and refined products markets, according to a study released Thursday by Boston Consulting Group.The International Maritime Organization (IMO)'s

Klaveness Combination Carriers to List in Oslo

Pic: Torvald Klaveness

Norway's Klaveness Combination Carriers (KCC) has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing on May 22.Following the successful private placement, KCC has declared two

One Dead, One Hurt in Los Angeles Port Accident

File Image: Port of Los Angeles

An industrial accident on Wednesday, May 15 at a Port of Los Angeles container terminal tragically took the life of an International Longshore and Warehouse Union (ILWU) worker and seriously injured a second worker. The incident occurred at approximately 7:25 a.m. at Fenix Marine Services at Pier 300.

Cosco Eyes PIL Takeover

Image: Cosco Shipping Holdings Co.

After buying several container factories from its smaller competitor Singapore-based shipping company Pacific International Lines (PIL), China’s Cosco Shipping Holdings Co. is eyeing it as a potential takeover target.The Chinese state-run ocean carrier  had bought part of debt-ridden PIL’s container-manufacturing business,

Bristow Files for Chapter 11 Bankruptcy

Image: Bristow Group

Offshore helicopter services provider Bristow Group filed for chapter 11 bankruptcy protection after reaching a deal with senior bondholders on a plan to slash its debt load.The struggling Houston-based helicopter operator for offshore oil and gas industry looks to cut debt after reaching deal with senior bondholders,

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