NYMAR NEWS ARCHIVES - 2011

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December 2011

December 15th, 2011

UN's Maritime Agency to Weigh Setting Price on Ship Emissions

By Kim Chipman and Ewa Krukowska Bloomberg The International Maritime Organization, the United Nations' shipping agency, will next year consider how to set a price on greenhouse-gas emissions from ships that contribute to climate change. The London-based IMO's environmental panel will give "priority consideration" on whether to set a global levy or establish an emissions-trading program, IMO Secretary-General Efthimios Mitropoulos said today in an interview in Durban, South Africa. The UN agency has been unable to agree on measures to curb emissions from ships for more than a decade. The European Union, which runs the world's biggest carbon trading system, has said it may present its own proposal next year to limit the industry's pollution if IMO doesn't find a solution. To read the rest of this article, click here.

 

December 15th, 2011

Frontline Will Split Company to Withstand Worst Tanker Rates Since 1999

By Alaric Nightingale and Isaac Arnsdorf Bloomberg Chairman John Fredriksen. Photo by Photographer: Jean Ayissi/HEIKO JUNGE/AFP /Getty Images The new company plans to sell $250 million of shares, of which Frontline will take 10 percent, Hemen Holding Ltd., a company indirectly controlled by Chairman John Fredriksen, will underwrite the remainder. The new company plans to sell $250 million of shares, of which Frontline will take 10 percent, Hemen Holding Ltd., a company indirectly controlled by Chairman John Fredriksen, will underwrite the remainder. Frontline Ltd., the world's biggest operator of the largest oil tankers, plans to split the company to withstand the worst rates since 1999. The shares jumped as much as 39 percent in Oslo trading. Frontline 2012 will take control of the newest vessels as well as outstanding orders at ship yards, Hamilton, Bermuda- based Frontline said today. The new company plans to sell $250 million of shares, of which Frontline will take 10 percent. Hemen Holding Ltd., a company indirectly controlled by Chairman John Fredriksen, will underwrite the remainder. Hemen is giving guarantees of $505.5 million, valid until Dec. 31. To read the rest of this article, click here.

 

December 15th, 2011

At Harbor, Answering an S.O.S.

By Robin Finn Susan Henshaw Jones leads the South Street Seaport Museum. SUSAN HENSHAW JONES, the new president of the comatose South Street Seaport Museum and the captain, by default, of its deteriorating fleet of historic vessels, dug the heels of her black pumps deeper into the splintered boardwalk at Pier 16, bracing herself against the November wind pirouetting off the harbor. "Being on the water in New York City is a great thing for any institution," she announced, following up with a quick corrective, "or it should be." Her new job is a little like rescuing a well-located but foundering cultural institution on Fifth Avenue, or at least that is what Ms. Jones, who is also the president and director of the Museum of the City of New York uptown on Fifth Avenue's Museum Mile, has been telling herself. Been there, done that, still doing it. At the City Museum, she presides over an eclectic collection of 1.5 million historic artifacts, from Alexander Hamilton's desk to Bella Abzug's hats, all housed in an elegant 1932 mansion in the final stages of a $90 million renovation. Before she was hired, the museum was in limbo: The collection began outgrowing its home in 1938, and a 1988 expansion plan never panned out. The storage conditions for its archive of 52,000 vintage photographs were abysmal; for that reason, other museums were averse to lending their treasures. To read the rest of this article, click here.

November 2011

November 15th, 2011

Study Says US-Flag Ships Cost More to Operate

R.G. Edmonson, Associate Editor The Journal of Commerce Online Wages, benefits cost nearly twice that of foreign competitors, study says U.S. flag merchant ships spend on average 2.7 times more to operate their vessels than their foreign competitors, largely because labor and benefits cost American operators nearly twice as much, according to a study sponsored by the Maritime Administration. The cost of labor is one of the major factors that make competition in the international marketplace difficult for U.S.-flag operators, according to Pricewaterhouse Coopers' report. There are 110 oceangoing ships under the U.S. flag, and about half of them are in the Maritime Security Program. On the other hand, U.S. owners operate 540 ships under 31 foreign flags. U.S. mariners earned more than five times mariners aboard foreign vessels in 2010, the report says. On average, daily labor costs aboard a U.S.-flag ship were $13,655 compared with $2,590 aboard a foreign-flag vessel. Congress instructed Marad to conduct the study last year. The findings are intended to help the agency find better ways to promote U.S.-flag shipping. Contact R.G. Edmonson at bedmonson@joc.com. Follow him on Twitter @BobinWash.

 

November 15th, 2011

NAMEPA member Capt. Satinder Baveja as speaker at a ISPS seminar in Lima, Peru

Capt. Satinder Baveja, Dy. Managing Director of V. Ships USA LLC, speaks on security issues for the shipping industry from a Company perspective Capt. Satinder Baveja, Dy. Managing Director of V. Ships USA LLC, spoke on the topic "Security Issues for the Shipping Industry: a Company Perspective." The seminar was attended by nearly 400 from around the world. View Satinder's Powerpoint presentation in PDF format. For more presentations, photos, and videos, visit the official website here.

 

November 15th, 2011

Update 2-Maersk sees more shipping losses after Q3 hit

By John Acher and Jakob Vesterager Reuters Africa COPENHAGEN, Nov 9 (Reuters)—Weak freight rates knocked shipping and oil group A.P. Moller-Maersk A/S (MAERSKb.CO: Quote) to a steeper-than-forecast drop in quarterly profits as its container shipping arm dived into the red and was seen staying loss-making this year. The Danish conglomerate, whose Maersk Line is the world's biggest container shipping company and therefore a barometer of world trade, forecast full-year 2011 net profit in a range of $3.1 billion to $3.5 billion including divestment gains. That compared with a profit of $5.02 billion for 2010. "In the container business, we are hit by very low rates," Chief Executive Nils Smedegaard Andersen told Reuters. "That is a consequence of the fact that the peak season did not develop the way the market expected. To read the rest of this article, click here.

 

November 15th, 2011

Maritime unions call for Matsuda to resign

Maritime unions are up in arms and calling for the resignation of U.S. Maritime Administrator David Matsuda, following the release of a MarAd report that compares the costs of U.S.-flag and foreign-flag vessel operations. The report, a Comparison of U.S. and Foreign-Flag Operating Costs, reaches the conclusion that it costs more to operate ships under the U.S.-flag than under an open-register flag  and that the chie reason for this is that U.S. citizen crews are more expensive than third-world crews. Possibly this is news to the Maritime Administrator, who worked as an attorney with the safety law division of the USDOT's Federal Railroad Administration before becoming a staffer for Senator Frank Lautenberg. Matsuda has often been criticized in maritime circles for his lack of knowledge and engagement with the maritime industry. One well-known maritime attorney who works for a major flag state went so far as to say that the Administrator was "underwhelming." Another prominent member of the salvage community said he was going to make it his mission to get rid of Matsuda. One long-time maritime commentator called him "the invisible man." To read the rest of this article, click here.

 

November 15th, 2011

Shipping Companies Quizzed on U.S. Ownership Law Called Obsolete

By Carol Wolf Bloomberg The Coast Guard began investigating Trico after the U.S. Maritime Administration received a tip in October 2009 that Trico was violating a 1920 law requiring 75 percent U.S. ownership of marine vessels within U.S. waters, according to a Coast Guard report. Source: Michael Pocock/maritimequest.com The U.S. Coast Guard is exploring how publicly traded companies comply with a law requiring vessels working within U.S. waters to be 75 percent American-owned, after a company it fined for violations said the requirement can’t be met. The service, which posted the notice last week in the Federal Register, said it’s following up on Trico Marine Services Inc.’s defense that no public company can comply with the 1920 law covering vessels that operate within U.S. waters and between U.S. ports. Enforcing the law, which is designed to protect the U.S. maritime industry, may prevent all public shipping companies from operating within U.S. waters, a ‘doomsday scenario,’ Trico officials told Coast Guard investigators, according to the service’s report. To read the rest of this article, click here.

 

November 15th, 2011

NYMAR's Man About Town—"Midtown restaurants are lightening-up"

By Barry D. Parker for NYMAR After quite a long stretch on the road, it was a delight (after my return to New York) to  sample the newly opened Del Frisco’s Grille, in Rockefeller Center. This is my new favorite place. Rarely do I rave about restaurants, but this venue- an offshoot of the very famous (and still hard-to-get-a-table at steakhouse with a similar name) over on Sixth Avenue, moves to the top of my list (move over, Bobby Van’s…more on that in a bit…). When I invited some ship finance friends to join me for evening drinks at what was to be my inaugural visit to the new Grille at Rockefeller Plaza (half a block west of Fifth Avenue), I was not sure what to expect. I wanted to strike a balance between formal and informal; it was a business meal, but there should also be a good “scene," as well. The Grille catches an excellent vibe. I was contemplating a few places for the drinks meeting. At the more formal extreme, consider that the Del Frisco Double Eagle (no relation to the tankers once owned by Eletson Corp, Seabulk and others), one block over on Sixth (at 49th Street), is very ponderous in the evenings (even at the bar, if you can get close to it). Alternatively, another recently opened entry in the “grill” category-  Bills Bar and Burger, also on 51st (just off Fifth), was a little bit too informal, and, quite honestly, not far enough removed from the trade-routes for tourists. To read the rest of this article, click here.

 

November 7th, 2011

New York City Seeks to Turn Staten Island Waterfront Into a Port

Monday, November 7, 2011 On Friday, New York City Economic Development Corp. issued a request of interest concerning the development of a 33-acre waterfront site into a port, or other maritime business center in Staten Island, one of NYC’s five boroughs. The proposal released by the city would include a 2,000-foot stretch busy shipping area along the Arthur Kill Channel coastline.  Currently, the opposite side of the channel in New Jersey has been built up by the industry, and the Staten Island side sits idly with salty marshes.  The request of interest is the first step of developing the property that has a potential for high traffic and economic gain.  Companies who have ideas for the site will submit preliminary proposals, then formal requests providing greater details on the plans. Edward Kelly, executive director of the Maritime Association of the Port of New York/New Jersey, said in a statement that the west shore of Staten Island is located in the crosshairs of one of the globe’s busiest maritime areas, and would surely be a draw for maritime enterprise that would create new, high-paying jobs. While all that sounds good and well, there is a catch: the Arthur Kill Channel is only 35-feet deep.  The Port Authority, however, is already tackling this hurdle, as they are dredging the New York harbor to 50-feet of depth in order to accommodate the newer generation of large ships. The 33-acre site if the largest property owned by New York City that is available for maritime development, and one of the few industrial waterfront properties that is suitable for shipping in the entire NY/NJ area. © Copyright 2011 The Maritime Executive, LLC More information is available here.

October 2011

October 21st, 2011

The Economic Impact of The New York-New Jersey Port and Maritime Industry [STUDY]

By gCaptain Staff Photo © 2009 New York Shipping Association. The following are the results of a study that was conducted to provide updated estimates on the economic impacts that the Port of New York and New Jersey has upon the region in an attempt to educated policymakers, decision makers and citizens about the importance of the industry.  The results of the study, as you can imagine, should turn some heads. More than 279,200 jobs generated by activity in the Port of New York and New Jersey, according to a study released today. The independent economic impact study of port operations, prepared by A. Strauss-Wieder Inc., of Westfield, New Jersey, showed that jobs directly associated with port activity increased by nearly 3.5 percent, despite turbulent economic conditions, since the last time a similar comprehensive economic impact analysis was conducted in 2008. The assessment also shows the significant economic value that the port and maritime industry has and continues to generate through investments in the Region’s maritime infrastructure and through the capital markets. The analysis was prepared for the New York Shipping Association, Inc. (NYSA) and New York Maritime, Inc. (NYMAR) and reflects the economic impacts associated with the port and maritime industry in New York and New Jersey as it operated in the year 2010. The report summarizes the maritime movement of goods and people through the region, the substantial capital investments that have and continue to be made in the region’s port infrastructure, and the extent of the maritime-related capital market activity that occurs in the New York-New Jersey area. To read the rest of this article, click here.

 

October 21st, 2011

NY cluster reports rise

A STUDY released today confirmed the maritime sector’s growing importance to New York and New Jersey, although future revenues will hinge on raising the Bayonne Bridge. The independent study was commissioned by the New York Shipping Association, which represents port and shipping interests, and New York Maritime, representing financial and legal institutions. The report revealed that direct jobs created by New York-New Jersey port activity have increased 3.5% since 2008, despite the economic downturn. The dilemma facing the Port of New York-New Jersey over the next decade is the air draught of the Bayonne Bridge; if not raised, the limited clearance could prevent larger box ships from calling at the gateway after Panama Canal expansion in 2014. Asked by Fairplay about the bridge work and its timetable, NYSA president Joe Curto responded: “Our members are extremely concerned. It is a very important project. “I believe that many carriers will bring the big ships to the US East Coast,” continued Curto. “We are somewhat placated by the news that the port authority is going ahead with the project. But I think folks may start to get antsy if they don’t hear something fairly soon about the timetable.” The port authority has previously announced plans to raise the bridge’s air draught from 46m to 65.5m but has yet to confirm when the work would start and be completed. The US Coast Guard was designated as the lead federal agency for project co-ordination in August. Curto told Fairplay that the industry is hoping that the Bayonne Bridge will be raised by 2017. He added that NYSA has just “reached out to the port authority to see if they can provide us with a new schedule.”

 

October 21st, 2011

Still capital times in New York

by Rajesh Joshi, Lloyd's List Nevermind the IPOs SHIPPING initial public offerings have dried up, and there is little chance of a revival soon. Not a good time to be publicising New York Maritime’s tag line about the Big Apple being the “capital for shipping”, one would think. Not so. The Peter Shaerf-led non-profit organisation, in tandem with the New York Shipping Association, has released an economic impact study that establishes New York’s maritime credentials all the same. Conducted by research firm A. Strauss-Wieder, the report shows that in 2010 the New York-New Jersey port industry supported 279,200 jobs in the two states, generating almost $11.6bn in personal income and $37.1bn in business income. Federal, state and local governments walked away with $5.2bn in taxes. New York Shipping Association president Joseph Curto said the billions of dollars invested by the public and private sectors and the efforts of the employers and employees of the port community “support the businesses and population of the largest and wealthiest consumer market in the world.” The 2010 study shows a 3.5% increase in jobs over the previous edition of 2008. Container cargo movements and increased distribution centre activity powered much of the growth, proving that shipping can be in the money even if it does not look that way from Wall Street. “We are an international hub both directly through the movement of goods and services, and through the shipowning, banking, insurance and legal infrastructure which exists in New York to support the global maritime-related investment businesses,” Shaerf said. “The combination attracts international companies to our cluster.”

 

October 19th, 2011

Mayor Bloomberg and Norwegian Cruise Line Announce NYC to be Home Port for New State-of-the-Art Ship

Source: MarketWatch Monday, October 10, 2011—Manhattan Cruise Terminal will serve as year-round home port beginning in 2013 for at least 88 calls, generating an additional $35 Million in direct spending in New York City. Mayor Michael R. Bloomberg and Norwegian Cruise Line CEO Kevin Sheehan today announced that Norwegian Cruise Line's new state-of-the-art 4,000 passenger ship, Norwegian Breakaway, will make New York City its year-round home port. Beginning in May 2013, Norwegian Breakaway--which will be the largest ship ever to home port in the City--will replace Norwegian Star, and embark on a minimum of 88 cruises from the Manhattan Cruise Terminal through March 31, 2015. The ship calls will bring an estimated 140,000 additional embarking passengers into New York City over two years, resulting in an estimated $35 million in additional direct spending. Mayor Bloomberg and Norwegian Cruise Line were joined at the announcement in the Manhattan Cruise Terminal by New York City Economic Development Corporation President Seth W. Pinsky and NYC & Co CEO George Fertitta. To read the rest of this article, click here.

 

October 19th, 2011

Royal Caribbean Cruises Ltd. winner of NAMEPA’s Marine Environment Protection Award—Award dinner on November 9th follows seminar on Corporate Risk Management

Jamie Sweeting Vice President, Environmental Stewardship & Global Chief Environmental Officer Royal Caribbean Cruises Ltd. Clay Maitland, Founding Chairman of the North American Marine Environment Protection Association (NAMEPA), announced that the world’s second largest cruise company, Royal Caribbean Cruises, Ltd., is the recipient of NAMEPA’s 2011 Marine Environment Protection Award.  The award will be presented at NAMEPA’s Awards Dinner to be held at Chelsea Piers’ The Lighthouse in New York following NAMEPA’s seminar on Corporate Risk Management, which will focus on the need of the maritime industry to evaluate risk in a challenging operating environment. “We are delighted that the North American Marine Environment Protection Association has awarded Royal Caribbean with the 2011 Marine Environment Protection Award," said Jamie Sweeting, vice president of Environmental Stewardship, Royal Caribbean Cruises Ltd.  "Royal Caribbean is dedicated to helping to protect the marine environment, and we are committed to caring for the unique and beautiful places we visit throughout the world.  It is an honor to be recognized by NAMEPA for our commitment to protect, conserve and support the environment.” To read the rest of this article, click here.

 

October 19th, 2011

NYSE to Suspend Horizon Lines

By Joseph Bonney The Journal of Commerce Online - News Story U.S. domestic carrier's stock to be traded over-the-counter The New York Stock Exchange said it will suspend trading in Horizon Lines stock before the market opening Thursday because the company’s average capitalization over 30 trading days fell below $15 million. Falling below the NYSE standard triggers an automatic suspension and delisting process. Horizon said its stock will be traded over the counter through the appeals process, under a symbol to be determined. Horizon this month completed a $652.8 million refinancing that included an exchange of convertible notes for new notes and stock and warrants. Under the refinancing the company issued 25.1 million new shares. Horizon had 30.9 million outstanding shares before the issuance. To read the rest of this article, click here.

 

October 19th, 2011

Admiral Phil Greene, USMMA, to transfer to Washington, DC

Admiral Phil Greene, USMMA Secretary Ray LaHood announced on Tuesday the appointment of Rear Admiral Philip H. Greene, Jr. (KP ’78) to be the Department of Transportation Chair at the National Defense University in Washington, D.C.  Rear Admiral Greene served with distinction as Superintendent, United States Merchant Marine Academy since August 30, 2010.  A native of Southern California, Admiral Greene, was our third Kings Point Graduate to serve as Superintendent. Rear Admiral Philip H. Greene, Jr. (KP '78), has been named the 2011 Alumnus of the Year by the USMMA Alumni Association and Foundation. This prestigious annual award will be presented at the Homecoming Alumni Awards Dinner on Thursday evening, October 13th, in the Melville Hall Officers’ Club. To read the rest of this article, click here.

 

October 19th, 2011

Liberty Maritime Corporation Announces Change In Union Affiliation

Liberty Maritime Corporation (Liberty Maritime) of Lake Success, New York 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 licensed deck officers and engineers to Liberty Maritime for the operation of five U.S.-flag dry bulk carriers effective October 1, 2011.  Those vessels had previously been subject to a collective bargaining agreement between Liberty Maritime and the Marine Engineers Beneficial Association, District No. 1-PCD (MEBA), which expired September 30, 2011.   The MEBA will continue to provide deck officers and engineers on the three U.S.-flag Pure Car/Truck Carrier vessels (PCTCs) operated by Liberty pursuant to a separate collective bargaining agreement between Liberty Maritime and the MEBA. Mr. Philip J. Shapiro, President and CEO of Liberty Maritime, said:  “We worked many months with the MEBA to try to reach a new agreement, and as late as three days before the prior agreement was due to expire, the MEBA  called to say the Union was not interested in our proposal. Although we are saddened that we could not work out a mutually beneficial arrangement with the MEBA, we remain proud of our long and productive relationship with the Union and salute the  professionalism of  its  members.” To read the rest of this article, click here.

 

October 17th, 2011

The Significant Economic Impact of the New York-New Jersey Port and Maritime Industry

Read the Press Release of the NY-NJ Economic Impact Study (pdf, 283kb). Read the full 24-page Report of the NY-NJ Economic Impact Study (pdf, 3MB). An excerpt from the October 17th press release: "More than 279,200 jobs generated by activity in the Port of New York and New Jersey, according to a study released today. The independent economic impact study of port operations, prepared by A. Strauss-Wieder Inc., of Westfield, New Jersey, showed that jobs directly associated with port activity increased by nearly 3.5 percent, despite turbulent economic conditions, since the last time a similar comprehensive economic impact analysis was conducted in 2008. The assessment also shows the significant economic value that the port and maritime industry has and continues to generate through investments in the Region’s maritime infrastructure and through the capital markets. The analysis was prepared for the New York Shipping Association, Inc. (NYSA) and New York Maritime, Inc. (NYMAR) and reflects the economic impacts associated with the port and maritime industry in New York and New Jersey as it operated in the year 2010. The report summarizes the maritime movement of goods and people through the region, the substantial capital investments that have and continue to be made in the region’s port infrastructure, and the extent of the maritime-related capital market activity that occurs in the New York-New Jersey area."

 

October 10th, 2011

Anti-Piracy Campaign—Act now!

On October 9, 2009, a British couple, Paul and Rachel Chandler, were sailing their small sailboat from the Seychelles to Tanzania when they were abducted by Somali pirates. “The Chandlers would be held for the next 388 days. In the past few years, loosely organized gangs of Somali pirates, kitted out with Fiberglas skiffs, rusty Kalashnikovs and flip-flops, have waylaid hundreds of ships — yachts, fishing boats, freighters, gigantic oil tankers, creaky old Indian dhows, essentially anything that floats — and then extracted ransom in exchange for their return. As a result, the worldwide shipping industry now spends billions of dollars on higher insurance premiums, armed guards and extra fuel to detour thousands of miles away from the Gulf of Aden, a congested shipping lane just off Somalia’s coast leading to the Red Sea. Navies from more than two dozen countries patrol Somalia’s coast, burning around a million dollars of fuel per day. And yet 2011 is on track to be another banner year for piracy, with more than 20 ships already seized, hundreds of seamen in captivity and the average ransom now fetching upward of $5 million, a fortune anywhere but especially in a country with no government and an economy that has been decimated by decades of war.” —Jeffrey Gentleman, New York Times Magazine, October 9, 2011 But the Chandlers were the lucky ones; they were released and are back at home planning their next sailing adventure—to another part of the world. 64 seafarers have been killed by these same pirates, and over 400 seafarers are being held hostage by armed gangs of Somali pirates, in appalling conditions, subject to physical and psychological abuse. Their ships have been hijacked at sea and they are being held for ransoms of millions of dollars. The human cost to seafarers and their families is enormous. This affects YOU. Piracy is beginning to strangle key supply routes. 90% of the world's food, fuel, raw materials and manufactured goods is delivered by sea. Nearly half of the world's seaborne oil supply passes through the pirate-infested parts of the western and northern Indian Ocean. But the world's politicians don't seem to realize the severity of the crisis. World trade is under threat. Piracy costs the global economy $7-12bn a year. Yet even when caught red handed by naval forces, 80% of pirates are released to attack again. You can help stop this hostage-taking and help restore the freedom of the seas. Please add your voice to our worldwide call for government action. More robust laws, stronger enforcement and firmer political resolve are needed to stop these pirates. Just two clicks sends our SOS letter, in your name, directly to your chosen Head of Government. Thank you for your support Carleen Lyden-Kluss, Executive Director NYMAR (New York Maritime Inc.) +718 841 7469 (o) +203 260 0480 (m) info@nymar.org Click logo for latest piracy info and to send your letter on Somali piracy to your government - political will and action … NOW!

September 2011

September 15th, 2011

Epidemic of shipping company failures unlikely

By Rajesh Joshi Lloyd' List- New York PUBLICLY listed dry bulk companies will not see a spate of bankruptcies until at least 2014 even if rates remain weak, while some tanker companies might not be able to avert the day of reckoning for quite that long. However, brand-name tanker companies’ superior ability to attract equity and bank debt could enable them to prevent insolvencies even better than their dry bulk peers, regardless of rates. All shipping segments will see the odd merger, privatisation, bank repossession or Chapter 11 filing in the coming couple of years, but an exodus towards company insolvencies is unlikely. Barring differences on some of the detail, this was the consensus that emerged when a group of senior shipping analysts gathered for the Capital Link conference in New York was asked to hold forth on the state of markets today. To read the rest of this article, click here.

 

September 15th, 2011

SUNY Maritime College Turns Over the Helm

On August 31, 2011, Rear Admiral Wendi B. Carpenter, USNR (Ret.) became the 10th president of SUNY Maritime College and the first woman to serve as president of the College,  during a "Change of  Office" ceremony in the historic Fort Schuyler, St. Mary's Pentagon, SUNY Maritime campus, Throggs Neck, NY. RADM John Craine (Ret.) and Mrs. Wendy Craine departing the Change of Command ceremony. State University of New York Chancellor Nancy Zimpher addressed the audience and praised the new SUNY Maritime College for her leadership and distinguished Naval career.  She also thanked Vice Admiral John W. Craine, Jr. (USN) Ret. for his years of service to SUNY Maritime College and to the State University of New York. During the ceremony, SUNY Board of Trustees Chairman Carl Hayden also spoke about SUNY Maritime College's great traditions and the strength of the college's graduates.  He offered warm thanks to Admiral Craine for his many years of service and spoke of Admiral Carpenter's leadership and abilities that will benefit the college for many years to come.   US Maritime Administration (MARAD) Chief Council Denise Krepp also addressed the audience and presented Admiral Craine with a special award from MARAD in recognition of his many years of service.   In addition to the formal Change of Office ceremonies, Captain Richard Smith, '81, took the podium and  formally inducted 338  first-year members of the regiment, from the  Class of 2015, into the regiment. To read the rest of this article, click here.

 

September 15th, 2011

Coast Guard Foundation job led to Omega chairman’s departure

by Rajesh Joshi Lloyd's List An Omega tanker: departing chairman Robert Flynn said he expects to remain involved in Omega’s business. Senior shipbroker says move has nothing to do with situation at company ROBERT Flynn is stepping down from the chair of Omega Navigation Enterprises because he is set to assume the chairman’s role at the US Coast Guard Foundation from October 1, the senior shipbroker has said. Mr Flynn, whose day job is as president of Mallory Jones Lynch Flynn & Associates, told Lloyd’s List that the USCG post would conflict in principle with his continued presence at Omega. “I do not think it would be proper for me to continue to chair a company whose visiting ships the USCG would regulate,” Mr Flynn said. “I wish I could have done both, but after five-and-a-half years as Omega chairman I am stepping down. Nonetheless, after passing on the baton I expect to remain involved in Omega’s business, either as a shipbroker or in another professional capacity.” To read the rest of this article, click here.

 

September 15th, 2011

U.S. Department of Transportation Honors Service
of Merchant Mariners on 9/11

By Steve Strunsky The Star-Ledger The heroism of merchant mariners who evacuated hundreds of thousands of people from Lower Manhattan after the Sept. 11, 2001 terrorist attacks is featured in a new video released today by the U.S. Department of Transportation’s Maritime Administration. “Rescue at Water’s Edge,” includes interviews with vessel operators, emergency responders and passengers. “The story of merchant mariners coming to the aid of those in need on September 11, 2001 is an inspiring one,” said U.S. Transportation Secretary Ray LaHood. “On that terrible day, our nation’s seafarers, with courage and selflessness, transported hundreds of thousands of people out of harm’s way to safety.” More than 300,000 people were evacuated by water from lower Manhattan after the terrorist attacks in the largest unplanned water evacuation in the history of the United States. To read the rest of this article, click here.

August 2011

August 23rd, 2011

See the Presentations and Watch the Webcast Video of the NYMAR/Propeller Club panel discussion

Click here to watch the Flash video of the panel discussion on “International Crises and Shipping: Libya and Piracy Updates” Click here see the Propeller Club's PowerPoint presentation on piracy near the Horn of Africa and the embargo of Libya. Click here see NAMEPA's PowerPoint presentation on Current Pirate Threats, Emergence of Maritime Terrorism & How to Vet a Potential Security Provider to Mitigate these Threats. The Propeller Club of New York/New Jersey and NYMAR presented a panel discussion on “International Crises and Shipping: Libya and Piracy Updates” on August 2nd from 5-7PM at the offices of Blank Rome (The Chrysler Building- 405 Lexington Avenue, New York, NY 22nd Floor). Featured speakers included: Jim Bergeron (Political Advisor to Commander, Striking Force NATO John Kimball of Blank Rome Kevin Doherty of Nexus Consulting SPONSORED BY:

 

August 17th, 2011

Cido 30 ship sale signed

By Jim Mulrenan in London Trade Winds Craig Stevenson’s Diamond S Shipping has confirmed that it has reached a definitive agreement with Cido Shipping to purchase 30 product carriers along with their related charters. The deal will turn Diamond S Shipping, which was only set up in 2007, into one of the world’s top half dozen owners of medium range product carriers. But Cido Shipping, previously the biggest owner in this sector with a fleet of vessels centred around 47,000-dwt ceases to be a major player in this market. Craig Stevenson Greenwich, Connecticut based Diamond S said the acquisition would close subject to the customary conditions in the current quarter. To read the rest of this article, click here.

 

August 17th, 2011

General Maritime Leads Slump as Oil-Tanker Stocks Plunge

By Michelle Wiese Bockmann Bloomberg General Maritime Corp. (GMR) led declines by oil-tanker stocks in New York as the threat of a second U.S. recession in three years increased the risk that energy imports into the world’s largest economy may fall. General Maritime fell 29 cents, or 39 percent, to 45 cents in New York Stock Exchange trading. The six-member Bloomberg Tanker Index (TANKER) dropped 11 percent, the most since March 5, 2009, to the lowest level since May 9, 2003. “The stock market is discounting problems ahead,” Andreas Vergottis, research director at Tufton Oceanic Ltd., manager of the world’s biggest shipping hedge fund, said by phone. “It will be very bad for tankers.” To read the rest of this article, click here.

 

August 17th, 2011

Staten Island commuters eye rail link on rebuilt Bayonne Bridge

By Steve Strunsky The Star-Ledger Jennifer Brown/The Star-Ledger. The Bayonne Bridge as seen through a NJ Transit train window in January. Bayonne Bridge as seen through a NJ Transit train window in January. Some Staten Islanders are continuing to clamor for a train on the rebuilt Bayonne Bridge, — a proposal that was first made 80 years ago. To proponents of the project, raising the clearance of the Bayonne Bridge will ensure the health of the Port of New York and New Jersey and the survival of thousands of jobs and billions of dollars in economic activity that depend on it. To others, the project also represents a chance to fulfill the dream of a commuter rail link between Staten Island and the mainland, a prospect first held out at least 80 years ago, when the Port Authority built the bridge with the capacity to add a light rail line to the four traffic lanes suspended from the span’s steel arch. To read the rest of this article, click here.

July 2011

July 19th, 2011

A Bridge Too Low and a Lesson for Visionaries

By Neil Genzlinger New York Times MARITIME MESS The Bayonne Bridge, opened in 1931. Photo by Mitch Waxman I'm concerned that the Second Avenue subway project makes no allowance for personal teleportation modules. I'm worried that the new wing of the Museum of the Moving Image in Astoria, Queens, does not account for the possibility that films might someday be projected directly onto the backsides of our eyelids. TIGHT SQUEEZE Capt. John Doswell hosting a Hidden Harbor Tour. Photo by Emily Berl for The New York Times Such stuff is troubling me because of a lovely boat ride I took a few weeks ago: a Hidden Harbor Tour, an evening excursion intended to show people that the waterways around the city are home to more than just the Statue of Liberty. The tour did a great job of that, but it also made me wonder whether the visionaries shaping our future are visionary enough. A few generations ago, they weren't, and it's about to cost us $1 billion. To read the rest of this article, click here.

 

July 19th, 2011

Entrepreneur Envisions Marine Highway

By Al Lewis gCaptain Staff, Dow Jones & Company This column is brought to us by Al's Emporium, written by Dow Jones Newswires columnist Al Lewis, offers commentary and analysis on a wide range of business subjects through an unconventional perspective. Every so often, an entrepreneur comes along with an idea so obvious that its adoption is only a matter of time. But first, the rest of humanity must scoff at it for a while. Ten years and many millions of dollars into his idea, New York real estate magnate Percy R. Pyne IV is almost through the scoffing phase. To read the rest of this article, click here.

 

July 19th, 2011

Rose retires from Dahlman

New York investment bank Dahlman Rose has confirmed the retirement of chief executive Simon Rose, who is to be replaced by chairman, Kim Fennebresque. The stunning change at the helm of the dynamic shipping and energy focused bank was first mooted in a TradeWinds report earlier today. "I have been incredibly proud to lead this firm since inception and am excited about the bright future ahead," Rose said in a prepared statement. "It was my hope when I asked Kim to join our firm as chairman that he would assume a senior leadership role, and this appointment realises that goal." To read the rest of this article, click here.

 

July 19th, 2011

SUNY Board of Trustees Unanimously Appoints Rear Admiral Wendi Carpenter, USN, President of SUNY Maritime College

First Woman to Serve as SUNY Maritime College President The State University of New York Board of Trustees today unanimously appointed Rear Admiral Wendi Carpenter, USN, president of SUNY Maritime College. Admiral Carpenter is currently serving as the Commander of the Navy's Warfare Development Command. The SUNY Board of Trustees voted on her appointment at a special meeting held on Thursday, June 30, 2011. Rear Admiral Carpenter is the first woman to serve as president of SUNY Maritime College. To read the rest of this article, click here.

 

July 19th, 2011

NYMAR's Man About Town—Trendy Ex-Cargo Spots

By Barry D. Parker for NYMAR A very trendy part of New York is closely tied to cargo logistics from a bygone age. The "Highline" is an elevated freight train trestle, now a public park, extending south from 30th Street extending south about a mile to Gansevoort Street. Renewal and repurposing is also the order of the day in the "Meatpacking District", a small cluster of hip-ness nestled between the Chelsea neighborhood, on its north side, and the West Village. In the old days, circa 1930's, refrigerated trains would deliver their cargo to slaughter and packing houses in the area, which would then be processed and distributed onward by trucks to New York's restaurants and retail markets. To read the rest of this article, click here.

June 2011

June 15th, 2011

Port Authority secures world's second largest shipper as anchor tenant, delivering $500 million of private investment and creating nearly 800 new jobs

Lease Agreement with Port Newark Container Terminal and Mediterranean Shipping Company Guarantees Increased Cargo Volume Port-wide The Port Authority Board of Commissioners today approved a restructured lease with Port Newark Container Terminal (PNCT) that will provide $500 million in private capital investment to upgrade the existing facility into a state-of-the-art terminal. The restructured lease will create nearly 800 new jobs – including 350 construction jobs, and will generate 1,450 overall jobs over the term of the lease. It also will guarantee an annual increase in cargo container volumes from Mediterranean Shipping Company (MSC), the world's second largest shipping company. To read the rest of this article, click here.

 

June 15th, 2011

New Boston-Canada cargo ship service begins this week

By Patriot Ledger Staff The Patriot Ledger BOSTON — A new weekly cargo service connecting Boston with Halifax, Nova Scotia, is set to begin on Tuesday, June 14. The New England- Halifax cargo ship route will be operated by American Feeder Lines, and it will stop at the Conley terminal in South Boston every Tuesday. The new shipping service follows the launch of a weekly Southeast Asia freight service out of the Conley Terminal that travels via the Suez Canal. The Massachusetts Port Authority anticipates the new services will eventually lead to the creation of as many as 400 new jobs in the region. The AFL "shuttle" will also stop at Portland, Maine, en route to Halifax.

 

June 15th, 2011

Maersk CEO Explains Details of Manifesto

By Peter T. Leach The Journal of Commerce Online Elvind Kolding provides exclusive details regarding document to JOC When Maersk Line CEO Eivind Kolding issued a manifesto to the container industry on June 7 calling for radical changes in the way both ocean carriers and shippers conduct their business, shippers largely welcomed it, but called for more details. To read the rest of this article, click here.

 

June 15th, 2011

City officials talk to PA about Bayonne Bridge

BAYONNE—Several officials from the city of Bayonne discussed plans for the Bayonne Bridge at a meeting with the Port Authority of New York and New Jersey on Friday. At the Port Authority's headquarters in Manhattan, Port Authority Deputy Director Bill Baroni, engineers, and project planners explained that the roadbed on the Bayonne Bridge will be lifted by sixty-four feet to allow large cargo ships to pass below. Bayonne officials viewed an animated film that demonstrated the process the Port Authority will use to reconstruct the bridge. (That animation is available for everyone to view on the Port Authority's website at www.panynj.gov/bayonnebridge/). To read the rest of this article, click here.

June 15th, 2011

Diana Containerships Sets $168 Million Stock Offering

By Peter T. Leach The Journal of Commerce Online Carrier will use funds to finance cost of Maersk ships, pay off loan Diana Containerships on Friday set the price of its public offering of 14.25 million shares of its common stock at $7.50 per share. The Athens, Greece-based carrier, already listed on the NASDAQ Stock Exchange, said it would use the proceeds of the $168 million offering and a $20 million private placement of approximately 2.67 million common shares to Diana Shipping to repay a secured-term loan facility with DnB NOR Bank, to fund the balance of the $70.5 million cost of three containerships it agreed to acquire from Maersk Line and the balance to buy additional container ships and general corporate purposes, including working capital. To read the rest of this article, click here.

June 15th, 2011

NOL to Issue Bonds for New Ships

By Joseph Bonney The Journal of Commerce Online Notes are part of financing plan for 12 8,400-TEU vessels Neptune Orient Lines said it would issue S$300 million (US$244 million) in 10-year bonds to help finance the purchase of new container ships for APL. The Singapore-based company recently ordered 12 new ships, each with capacity of 8,400 20-foot-equivalent units, for APL. The ships, to be delivered in 2013 and 2014, have a reported price of $98 million each. To read the rest of this article, click here.

June 15th, 2011

NYMAR's Man About Town—Al Fresco wining with some dining

By Barry D. Parker for NYMAR Early indications are pointing to another hot summer in New York.  While my friends across the pond are complaining about dreary rainy days, Big Apple denizens are basking in their collective glows gained sitting outside at some of midtown's excellent gathering places. With Marine Money Week approaching, with its action centered in midtown, the article gravitates towards the center of New York's new shipping / money universe.   Everyone is eagerly awaiting the conclusion of the construction at St. Bartholomew's Church, at 50th Street and Park Avenue, where the Inside Park restaurant and its outdoor garden, will be open all summer. The restaurant is actually inside what had been the cavernous Great Hall (including stained glass windows and a high ceiling) within the Church's community center, serves mainly American fare. But the real action (for lovers of outdoor venues) is at The Terrace, where hedgies, lawyers and professional types gather at lunchtime or at cocktail time.  You can eat a full meal outside, but honestly I have not gotten past the burger sliders- to be washed down with something from the nice selection of beers, wines, or something stronger. To read the rest of this article, click here.

May 2011

May 16th, 2011

Senators Propose Extending TIGER Grant Program

By R.G. Edmonson The Journal of Commerce Online Proposal would push program through fiscal 2018 A bipartisan group of senators is proposing legislation to extend the Department of Transportation's TIGER grant program through fiscal 2018, but stops short of authorizing a specific amount for grants. To read the rest of this article, click here.

 

May 16th, 2011

Horizon Lines' empty bankruptcy threat brings US DoJ to its knees;
victorious hedge funds rejoice

By Hema Oza & Andrew Ragsly, Edited by Adelene Lee Debtwire The US Department of Justice's (DoJ) reduction of Horizon Lines' price fixing fine last month dealt a winning hand to the cargo shipper's unsecured hedge fund creditors, Debtwire reports. North Carolina-based Horizon and its bondholders wielded the idle threat of bankruptcy to pressure the DoJ to reduce a USD 45m fine to USD 15m, said two bondholders, a hedge fund analyst, a sellside analyst and a trader. The government's concession was ironic; since its price fixing claims would have been prioritized over the bondholders' in a restructuring. To read the rest of this article, click here.

 

May 16th, 2011

Maersk Hikes Piracy Surcharge

Peter T. Leach The Journal of Commerce Online Company expects piracy-related costs to double in 2011 Maersk Line is increasing its emergency risk surcharge for transporting containers through the pirate-infested waters of the Gulf of Aden and the Indian Ocean. The adjusted prices will  increase to $200 to $500 per 40-foot equivalent unit from $100 to $400. To read the rest of this article, click here.

 

May 16th, 2011

DNV Certifies Online Anti-Piracy Course

By Breakbulk Staff Breakbulk Online The International Maritime Security Network's maritime security training center has developed an eLearning-based anti-piracy defense course that has been certified by Det Norske Veritas. The course offers a blended version of eLearning and practical drills and exercises, according to IMSN. To read the rest of this article, click here.

 

May 16th, 2011

Historic Boats Find a Home at Pier 25

Pegasus, Lilac and Clipper City to Dock Off Tribeca There aren't many places at the edge of New York City hospitable to an old boat. That's why the dock space at the newly opened 985-foot long Pier 25, set aside for vessels that enhance understanding of the City's nautical history, was so enthusiastically welcomed by the maritime community. To read the rest of this article, click here.

 

May 16th, 2011

Port of New Orleans does not expect to shut

Reuters HOUSTON - The Port of New Orleans does not expect to have to shut down due to high water on the Mississippi River and continued to operate normally Thursday, a spokesman said. The river held at 17 feet (5 metres) on New Orleans' Carrollton gauge, and port officials expressed confidence in U.S. Corps of Engineers efforts to slow its rise by opening spillways to divert floodwater upstream. To read the rest of this article, click here.

April 2011

April 15th, 2011

DOT - Report on America's Marine Highways

The Department of Transportation (DOT) issued a press release stating that Secretary Ray LaHood has submitted to Congress the report on America's Marine Highways.  The report highlights the benefits of using coastal and river transportation as part of America's new clean energy economy.  EXECUTIVE SUMMARY This Report to Congress is required by Sections 1121 and 1123 of the Energy Independence and Security Act of 2007 (Energy Act). Section 1121 directs the Secretary of Transportation (Secretary) to establish a short sea transportation program and designate short sea transportation projects under the program to mitigate landside congestion. The Maritime Administration (MARAD) has implemented this short sea transportation program as the America‘s Marine Highway Program (the Program). The Program is intended to expand the use of our inland, Great Lakes Saint Lawrence Seaway System, intracoastal, and coastal waterways for the transportation of freight (loaded in containers and trailers) and passengers to mitigate landside congestion, reduce greenhouse gas emissions per ton-mile of freight moved, and accomplish other objectives. Information in this report is current through December 2010. For more information, click here to read the full report.

 

April 15th, 2011

Troubled Horizon Says Customers Haven't Left

By Joseph Bonney The Journal of Commerce Online Notice comes after carrier warns it may miss debt payment. Horizon Lines says most of its customers are sticking with the financially ailing container line despite an accountant's note that cited doubt about the company's status as a going concern. Horizon said last month it expects to default this quarter on $330 million in debt unless it can persuade bondholders to waive covenant violations triggered by the company's recent agreement to pay $45 million for pleading guilty to price-fixing in the U.S. mainland-Puerto Rico shipping trade. To read the rest of this article, click here.

 

April 15th, 2011

Windstar Cruises Parent Company Declares Bankruptcy

Written by Shawn Dake Shipping News It was no April Fool's Day joke when Ambassadors International filed for Chapter 11 bankruptcy protection in a Delaware court on April 1, 2011. While the Ambassadors name may not be that familiar to the general public, they are the parent company of the three-ship Windstar Cruises and also control the remaining assets of Majestic America Line which discontinued operations in 2008. The five major vessels affected by the filing include the 14,745 gross ton WIND SURF (ex CLUB MED 1), the sister vessels WIND STAR and WIND SPIRIT, both approximately 5,700 gross tons, and the riverboats DELTA QUEEN and COLUMBIA QUEEN. DELTA QUEEN October 9, 2007. Photo © Shawn Dake Ambassadors International had once been one of the most respected names in the travel industry. They described themselves as a cruise, marine, travel and event company. For years Ambassadors was based in Newport Beach, California before moving to Seattle, Washington to concentrate their efforts solely on Windstar Cruises. After a very rapid expansion into the cruise business beginning in 2006, the financial outlook for this company has been going downhill for the past several years. As a publicly held company, stock trading was suspended after "unusual activity" was seen following a surge in their share trading and prices. To read the rest of this article, click here.

 

April 15th, 2011

Charles Schumer seeks funds for port, bay outlet dredging

By Steve Orr RocDeals.com Saying that a federal "accounting trick" is threatening safe navigation of harbors and ports like the ones in the Rochester area, U.S. Sen. Charles Schumer said Monday that he was co-sponsoring legislation to fix the problem. At a news conference Monday on a wind-swept veranda at the ferry terminal in Charlotte, New York's senior Democratic senator said shippers pay fees that are set aside to pay for dredging navigable harbors and rivers. Among them are Rochester's port and the Irondequoit Bay outlet to Lake Ontario. But while there is plenty of money in the Harbor Maintenance Trust Fund to pay for dredging, federal officials refuse to release all of it. Instead, Schumer charged they hold back billions of dredging dollars to create a surplus that is used, on paper, to offset the soaring federal deficit. To read the rest of this article, click here.

 

April 15th, 2011

ILA Calls Off NY-NJ Strike Threat

By Joseph Bonney The Journal of Commerce Online 'We'll be on the job Monday,' said Harold Daggett, head of union local The International Longshoremen's Association called off a threatened strike at the Port of New York and New Jersey. "We've called it off. We'll be on the job Monday," said Harold Daggett, the ILA's executive vice president and head of Local 1804-1, which represents maintenance and repair workers. Daggett said the threatened strike was averted when Metropolitan Marine Maintenance Contractors Association agreed to sign off on language in a contract reached in December covering ILA maintenance and repair workers in Local 1804-1 and Brooklyn-based Local 1814. To read the rest of this article, click here.

 

April 15th, 2011

Northrop Grumman completes spinoff of shipbuilding business

New company called Huntington Ingalls Industries The following is the text of a press release issued by Northrop Grumman Corp.: (LOS ANGELES) -- Northrop Grumman Corporation (NYSE:NOC) today announced that it has completed the previously announced spin-off of its subsidiary Huntington Ingalls Industries, Inc. (NYSE:HII). Northrop Grumman stockholders of record at the close of business of the New York Stock Exchange (NYSE) on March 30, 2011, received one share of HII common stock for every six shares of Northrop Grumman common stock held. Stockholders will receive cash in lieu of fractional shares of HII. As a result of the spin-off, Northrop Grumman will report Shipbuilding financial results as discontinued operations for the 2011 first quarter and all prior periods. "Today's completion of the separation of Huntington Ingalls from Northrop Grumman is an important milestone benefitting both companies. We thank HII for their many contributions to our company and the defense of our nation, and wish them the best as an independent company," said Wes Bush, Northrop Grumman chief executive officer and president. To read the rest of this article, click here.

 

April 15th, 2011

NYMAR's Man About Town—Life beyond
Manhattan: "...if you want the usual, don't come"

By Barry D. Parker for NYMAR When I interviewed Angeliki Frangou, from the Navios companies, for an article celebrating her selection as the Connecticut Maritime Association's Commodore, we had a great conversation. But, as we were finishing up, the clouds broke and the sun revealed the spectacular vista of the Brooklyn waterfront. What did not make it into Fairplay (the magazine which featured Ms. Frangou on the cover) was the discussion about the various docks over in Queens and Brooklyn with both interviewer and interviewee each pointing at some stretch of the waterfront, and swapping stories about which ships we had visited at what docks. The Norval cement terminal in Long Island City is now condominiums, the Pepsi dock is an artist studio, and the Greenpoint lumber terminal, in Brooklyn, has now been reduced to rotting piers jutting out near Newtown Creek. The Domino Sugar terminal, under the Williamsburg Bridge, after being rescued by preservationists- may emerge as studios, and the New England Petroleum Company dock nearby has gone into corporate history after the oil price shocks in the late 1970s. In spite of occasional snarky comments about the Outer Boroughs in "The Man About Town", waterfront parts of Queens and Brooklyn are thriving. Williamsburg (reachable by subway) and Red Hook (reachable by New York Water Taxi) are some of the hottest neighborhoods in Brooklyn. Jeffrey Landsberg, who runs Commodore Research (no relation to the CMA award winners) is an expert on Asian drybulk trades, with a loyal following of shipowners and shipping investors who read his reports and commission his studies. He shared a trio of Williamsburg recommendations with NYMAR- "Dumont", which offers Classic Americana, features a gourmet Mac n' cheese". Until the weather really warms up, Jeffrey suggests dining in the heated outdoor garden area. To read the rest of this article, click here.

March 2011

March 15th, 2011

Kirby to acquire K-Sea for $600m

by Rajesh Joshi for Lloyd's List Deal would combine biggest coastwise and inland Jones Act barge fleets Joe Pyne. New York-listed inland tank barge and towboat major Kirby has unveiled its third major acquisition in two months, a $600m takeover of fellow New York-listed coastwise barge operator K-Sea Transportation. Market observers see the deal as a logical culmination to K-Sea's recent quest for refinancing of its debt as it emerged from a tough economic phase. The merger of heavy-hitters in the inland and coastal Jones Act barge space is one of the first tangible after-effects of the tough economic period that has beset the US domestic wet trades involving petroleum product and chemical transport over the past two years. To read the rest of this article, click here.

 

March 15th, 2011

U.S. Forms Criminal Task Force on Deepwater Horizon Disaster

By Laurel Brubaker Calkins The U.S. Justice Department has formed the Deepwater Horizon Task Force to consolidate its investigation into possible criminal charges stemming from the drilling rig explosion that killed 11 workers and caused the worst offshore oil spill in U.S. history. The Justice Department said in a statement that the task force brings together "separate and simultaneous investigations'' by its criminal and environmental and natural resources divisions and the U.S. Attorney's Office in New Orleans. "After assessing the overlap of the cases and in an effort to avoid duplication of effort, Deputy Attorney General James Cole has decided to establish a single task force with authority to oversee all facets of the investigation,'' Wyn Hornbuckle, a Justice Department spokesman, said in the statement. To read the rest of this article, click here.

 

March 15th, 2011

TSA Notes Challenges in International Screening

By R.G. Edmonson The Journal of Commerce Online John Sammon testifies on Certified Cargo Screening Program The Transportation Security Administration is satisfied with its security screening program for goods shipped on domestic passenger airline flights, but TSA said Wednesday challenges remain in meeting Congress' order to screen 100 percent of international inbound cargo. John Sammon, who heads TSA's air cargo security program, told members of the House Homeland Security Committee there are now 1,167 participants in the Certified Cargo Screening Program, one of the agency's key strategic layers. "TSA must remain vigilant in ensuring that certified companies properly screen air cargo," Sammon said. To do so TSA increased its inspector staff from 450 to 500, who conducted more than 6,000 inspections last year.

 

March 15th, 2011

DOJ Allows $45 Million Fine as All Horizon Could Pay

By Joseph Bonney The Journal of Commerce Online Installments total one tenth of authorized penalty for price fixing The Justice Department said it allowed Horizon Lines to pay a back-loaded $45 million fine for price fixing in the Puerto Rico trade because a stiffer penalty would have threatened the carrier's viability. Horizon pleaded guilty to a criminal antitrust charge for colluding with other carriers to fix prices between 2002 and April 2008, when federal agents raided offices of Horizon, Sea Star and Crowley Maritime. In a memorandum filed in U.S. District Court in San Juan, the Justice Department said federal sentencing guidelines called for a criminal penalty against Horizon of $336 million to $672 million, based on the company's estimated $1.4 billion in Puerto Rico freight revenue from 2002 to 2008. To read the rest of this article, click here.

 

March 15th, 2011

American Feeder Lines to start first service

American Feeder Lines, which says its vision and mission is the "realization of America's Marine Highways," says it will start operations in the second quarter of 2011. Last year the company hired Hapag-Lloyd veteran Rudy Mack as its COO. Its first service will be  to run a modern container feeder of 1,000-1,300 TEU capacity in a weekly service connecting Boston, Mass., and Portland, Me., with Halifax, Nova Scotia, Canada. This is the path of the former "Yankee Clipper"  which provided regular weekly services to the New England states, carrying containers for Hapag-Lloyd during Mr. Mack's Hapag-Lloyd days. Andrew Haines has been hired as Vice President Line Management and a regional office will be set up in Boston. To read the rest of this article, click here.

 

March 15th, 2011

Pirates target the Maersk Alabama again

By the CNN Wire Staff Captain Richard Phillips was held hostage on this lifeboat after pirates hijacked the Maersk Alabama in April 2009. Pirates targeted the Maersk Alabama, the ship seized in a dramatic operation in the Indian Ocean waters two years ago. Four suspected pirates approached the ship in a skiff and a hook ladder, the Maersk said in a statement Tuesday. "The captain followed the appropriate protocol and authorized an embarked security team to fire warning shots in order for the pirates to turn away," the statement said. Shortly after, the boat took off and the ship was headed to the Kenyan coastal town of Mombasa. To read the rest of this article, click here.

 

March 15th, 2011

BP 'changing,' top executive says

BP workers use shovels to clean oil from a beach at Port Fourchon, Louisiana, May 24, 2010. Oil has been washing ashore on the coast of Louisiana for the past several days as a result of the BP Deepwater Horizon oil rig explosion April 20. UPI/A.J. Sisco HOUSTON, March 9 (UPI) -- BP is committed to earn back the trust of the U.S consumer while looking to frontier developments to exploit much-needed reserves, an executive said in Houston. BP is struggling to repair its image after last year's deadly rig explosion in the Gulf of Mexico. The April sinking of the Deepwater Horizon platform killed 11 workers and resulted in one of the worst accidental oil spills in the history of the industry. GALLERY: Photo timeline of Gulf oil spill "We need to earn back your trust, along with that of state and federal leaders and the trust of Gulf Coast residents and customers," said BP Chief Executive Bob Dudley in a statement at an energy conference in Houston. "We are determined we will once again restore that trust and I realize this requires action, not words." To read the rest of this article, click here.

 

March 15th, 2011

Private equity taps Rickmers vet

CONNECTICUT startup Soundview Maritime confirmed today that it has hired former Rickmers exec Dr. Moritz Mittelbach as strategic advisor for its ongoing acquisition programme. Soundview was launched last year by two private equity funds, Littlejohn & Co. and Northern Shipping Funds. Soundview has been seeking to acquire 10-20 containerships in the 1,000-4,000teu range. Soundview confirmed today that it has purchased three ships to date: the 2002-built, 13,698dwt Cove Island; the 2005-built, 13,727dwt Shippan Island; and the 2005-built, 38,104dwt Louds Island. According to Sea-Web, the vessels were acquired last year for $12M, $14.5M and $36M respectively. To read the rest of this article, click here.

 

March 15th, 2011

NYMAR's Man About Town—"I've sailed to the City of New York To labour in the sky High above the streets below To home, my heart would fly..."
—"The Foggy Shores of Home," by the Masterless Men

By Barry D. Parker for NYMAR At one time, New York had more Irish people than Dublin, or so the saying goes. It's probably not true now, but might have been during the diaspora with waves of immigration in the 19th Century that created Irish-American communities along the East Coast, particularly in Boston and New York. Though people have scattered, and neighborhoods have evolved, many of the old traditions remain. March 17th, Saint Patrick's Day- a festive holiday associated with Ireland's patron saint, has its serious religious side. Yes, he is also the patron saint of the New York Archdiocese. Indeed, a mass is celebrated at Saint Patrick's Cathedral on Fifth Avenue at 50th Street (adjacent to the Olympic Tower), just prior to the parade up Fifth Avenue. A few standout Irish places are worth mentioning; every one will be serving a traditional Irish meal for St. Paddys.  I have been to business lunches, and to a number of  nice evening events (including some spectacular parties hosted by Imarex), at Maggie's Place, on  47th Street just west of Madison Avenue. The big day, March 17, features a special breakfast (to fortify the marchers in the parade, no doubt), but typically it's a lunch and dinner place- with pub food, and pasta, but also some nice steak and fish dishes. I've had the Maggie's Burger several times; my colleagues and counterparties have gone with traditional Irish dishes such as Fish & Chips. To read the rest of this article, click here.

February 2011

February 15th, 2011

Marine Money's George Weltman reviews Hellenic/Norwegian Chamber of Commerce's Shipping Conference

From Marine Money Freshly Minted The Hellenic/Norwegian-American Chambers of Commerce 17th Annual Joint Shipping Conference was held on Tuesday. It began withMorgan Stanley's Fotis Giannakoulis telling us everything we need to know about everything to make a decision in these uncertain markets. But for us it is all about finance, so we provide below some sound bites from the conference: Nordea's Martin Lunder highlighted what is needed to get a Pavlovian response from your banker. There is a flight to quality which favors an existing client with a strong management team. It is also critical that the client provide an opportunity for continued strategic growth. As an analogy, he suggested the window was open but the mesh is tight. Finally he provided a historic perspective of bank lending activities. During 2008, his bank underwrote $30 billion of transactions which declined to $8 billion in 2009. Last year that number rose to $15 billion and so far in 2011 they have a full pipeline. To read the rest of this article, click here.

 

February 15th, 2011

U.S. Trade Gap Probably Widened in December on Oil Imports

By Bob Willis for Bloomberg A shipping container is off-loaded onto a truck at the Port of Houston Barbours Cut Terminal in Houston, Texas. A shipping container is off-loaded onto a truck at the Port of Houston Barbours Cut Terminal in Houston, Texas. Kenneth Rogoff, a professor at Harvard University and former chief economist at the International Monetary Fund, talks about global imbalances and the risk of a trade war. Rogoff speaks with Sara Eisen on Bloomberg Television's "InsideTrack." (Source: Bloomberg) The U.S. trade deficit probably widened in December for the first time in four months as the cost of imported oil climbed, economists said before a report today. To read the rest of this article, click here.

 

February 15th, 2011

Somali piracy 'threatens global oil supplies'

The Irene SL was attacked about 400 miles (650km) south-east of Muscat A tanker owners' group has urged governments to do more to combat piracy in the Indian Ocean, saying hijackings could disrupt global oil supplies. It said Somali pirates were now using at least 20 seized vessels as mother ships to launch attacks in the region. The warning follows the latest hijacking by of a supertanker carrying some $200m (£125m) worth of crude oil off the coast of Oman. To read the rest of this article, click here.

 

February 15th, 2011

Nadler Introduces Clean Ports Bill in House

By Bill Mongelluzzo for The Journal of Commerce Online Law would empower ports to set standards for clean trucks Rep. Jerrold Nadler, D-N.Y., Wednesday introduced legislation to reduce truck pollution at container ports -- and to make it easier for the Teamsters union to organize harbor truck drivers. The Clean Ports Act of 2011 is similar to legislation Nadler introduced last year. It would confirm that ports in labor-friendly cities such as Los Angeles, New York, Newark, Oakland and Seattle possess the legal authority to set standards for clean trucks. The Port of Los Angeles clean-truck program seeks to achieve clean-air goals by banning old, polluting trucks and through various concession requirements regulating off-street parking of rigs and requiring maintenance plans for trucks. To read the rest of this article, click here.

 

February 15th, 2011

Hapag-Lloyd Swings to $133 Million Operating Profit

By Bruce Barnard for The Journal of Commerce Online Revenue hits $2 billion on rising volume, higher freight rates Hapag-Lloyd swung to an operating profit of $133 million in the final quarter of 2010 from a year-earlier loss of $211 million as rising cargo volume and sharply higher freight rates accelerate plans for an initial public offering of the world's sixth-largest ocean container carrier. Revenue of Germany's largest shipping line soared 33.7 percent to around $2.1 billion from $1.5 billion a year ago, its biggest shareholder TUI reported Feb. 9. Container traffic rose almost 7 percent year-on-year to 1.2 million 20-foot equivalent units from 1.1 million TEUs due mainly to strong growth on trans-Pacific trade lanes. To read the rest of this article, click here.

 

February 15th, 2011

3 indicted in NJ in ongoing ports probe

Associated Press NEWARK, N.J. — A high-ranking International Longshoremen's Association official and two others have been indicted in an ongoing probe into corrupt influence at shipping terminals at the Port of New York and New Jersey. Nunzio LaGrasso faces numerous extortion and bribery-related counts in the state indictment announced Tuesday. He also is facing federal charges. The 60-year-old Florham Park resident is secretary-treasurer of ILA Local 1478 and vice president of the Atlantic Coast District of ILA locals. Attorney Edmund DeNoia says LaGrasso will defend his innocence against accusations he says are false. A Newark police officer who is LaGrasso's nephew and a timekeeper at a Port Newark/Elizabeth terminal also are charged in the state indictment. Authorities say the men conspired to extort money from dock workers by demanding "tribute" for better jobs and pay. —Copyright 2011 Associated Press

 

February 15th, 2011

NYMAR's Man About Town—"Like the ocean tide, highs and lows,
love sometimes comes... then goes away... in Marina Del Rey."
–George Strait

By Barry D. Parker for NYMAR It's been a cold winter, too cold for shopping or going out much and cold enough to get thinking about warmer places. But it is Valentine's Day- and it's worth contemplating the affection, or not, between shipping and capital markets. Though the country crooner George Strait is unlikely to appear at New York cabarets (see below), the lyrics from his languid romantic ballad "Marina Del Rey" are very appropriate. The obvious fact is that both shipping markets and capital markets are both fickle, and are not always in alignment. Numerous soundbytes attesting to this uneasy flow of the tides could be culled from the recent conference, held jointly by the Norwegian American and Hellenic American Chambers of Commerce at the Waldorf Hotel. Seemingly, continued unease in the traditional banking sectors (evidenced by a smaller roster of lenders for shipping deals) would provide catalysts for shipping companies looking at new sources for capital. More colloquially, maybe it's time for experimentation and trying something different. But experimentation does not always work out. While New York stalwart Navios Maritime Holdings ("NM") has seen continued successes in its bond market encounters, others have seen challenges. Excel Maritime's ("EXM") money raising efforts went softly aground, in the wake of the Korea Line unease. Ole B. Hjertaker, CFO of Ship Finance Limited ("SFL"), speaking at the Waldorf on a shipowner panel, talked candidly about filing papers for a bond offering on a Friday, only to see markets rattled over the weekend by the debt crisis brewing in Ireland. "SFL" pulled the offering. Love comes and goes, like the song says. To read the rest of this article, click here.

January 2011

January 17th, 2011

No Timetable Set For Bayonne Bridge Project

The Journal of Commerce Online - News Story Major engineering work needed to allow container ships to pass under bridge The Port Authority of New York and New Jersey is putting no timetable yet on its plan to raise the level of the Bayonne Bridge and that engineering work on the a ambitious project has not started. A port authority spokesman said Monday decisions on whether the bridge will remain open during the highly complicated refurbishment will only be made after the design work and planning are completed. "We have not yet designed the bridge," said spokesman Steve Coleman. "We have only decided on the concept of raising the roadway." To read the rest of this article, click here.

 

January 17th, 2011

Plug-in-Power Set for Massive Growth at Major Ports

By William Pentland Although international shipping accounts for less than 3% of the world's CO2 emissions, the industry's impact on air quality in the densely-populated areas that typically surround major shipping and dry bulk ports has attracted growing attention in recent years. The recent gains in the Baltic Index will likely only amplify this interest. The world boasts a fleet of more than 50,000 cargo-carrying vessels, according to the International Maritime Organization. Oil tankers and dry-bulk carriers account for nearly 72% of the word fleet. General cargo ships account for roughly 13% of the world's total fleet. Diesel engines are the principal source of power for ships. The average ship spends 100 days in port every year. The average ship burns about 5 metric tons of fuel each day in port. Not surprisingly, people who live near ports have become especially concerned about these hotelling emissions and have increasingly called on decision-makers to implement "cold-ironing" or "shore-side power" solutions for ships in port. To read the rest of this article, click here.

 

January 17th, 2011

Suit to stop Delaware dredge dismissed

Philadelphia Business Journal A lawsuit intended to stop the deepening of the Delaware River shipping channel over a 102-mile stretch from 40 to 45 feet was thrown out of court by a federal judge in New Jersey, the Philadelphia Inquirer reports. The action "removed the last pending legal roadblock" to the dredging effort, the Inquirer said, but at least one opponent of the project, the New Jersey Environmental Federation, plans an appeal. The project would allow for larger ships to navigate between Philadelphia and Camden and the ocean. Supporters include the Philadelphia Regional Port Authority and the Army Corps of Engineers.

 

January 17th, 2011

New York rolls out red carpet as all three of Cunard's Queens
meet in Manhattan for only the second time in the company's history

By Travelmail Reporter It's a familiar story; you wait all year for a Cunard liner to arrive at Brooklyn Cruise Terminal and then three turn up at once.   Yesterday saw New York play host to all three of the Cunard Queens.The flagship liner Queen Mary 2, Queen Victoria and the new Queen Elizabeth, which was making her maiden voyage to the Big Apple, sailed alongside each other under the shadow of New York's iconic Statue of Liberty. The meeting of the Queens marks only the second time in Cunard's 171-year history that all three of the historic company's ships have been docked at the same time in New York. A right royal send-off: Cunard's three Queens sail out of New York under a sky of fireworks In spite of freezing temperatures, plenty of spectators braved the cold and headed to the Manhattan Cruise Terminal's Piers, near Battery Park, where Queen Victoria and Queen Elizabeth departed, while Queen Mary 2 set sail from Brooklyn. To read the rest of this article, click here.

 

January 17th, 2011

NYMAR's Man About Town–"I love the wheelhouse windows,
like the eyes of a river gal that enjoys life and a full moon tide"

By Barry D. Parker for NYMAR After a lively Holiday season, New Yorkers have been blessed with multiple snowfalls, which provides a nice backdrop for NYMAR's Man About Town to travel virtually. Though my kids are encouraging me to explore the I-Pad world, I am still mired in the conventional internet, where a number of excellent online views of the New York waterfront are available. The TUGSTER blog  at http://tugster.wordpress.com is filled with photographs of all manner of watercraft, many taken by blog owner Will van Dorp, an English teacher with literary leanings, living in a great waterfront perch in Brooklyn. Truth be told, I stumbled on this blog while searching for boat pictures to illustrate a Lloyds List article. The stated objective of blogger van Dorp is: "to help landfolk see my home waters–the port of New York– from the water perspective." He goes on to say that: "Part of my motivation is that mainstream media are ‘terracentric,' overlooking Sixth Boro news to a large degree." He says that he aims for the opposite- which he calls "maricentric." Charleston ©Pamela Talese www.pamelatalese.com Carolina Salguero, from the PortSide New York project (http://www.portsidenewyork.org) , who lives aboard the tanker Mary Whelan docked in Red Hook, Brooklyn explained to me that the "…The Sixth Boro", coined on TUGSTER, has found its way into "Vision 2020"    - The City of New York's plan for waterfront development. Vision 2020, where NYMAR can play an important role, is described at: http://www.nyc.gov/html/dcp/html/cwp/index.shtml    To read the rest of this article, click here.