Cargotec Cargotec Wins Environment Protection Award

Cargotec’s MacRack solution for side-rolling hatch covers has won the International Bulk Journal’s (IBJ) environment protection award. IBJ Awards judges were impressed by the MacRack system, which is based on environmentally-friendly electric-drive technology that offers shipowners energy savings, and eliminates hydraulic oil leaks along with the need to fit hydraulic pipework on board.

Breakthrough Subsea Deal for Aker Solutions

Aker Solutions has secured an important contract to supply heating systems for the subsea pipelines that Technip will deliver and install for the Goliat field in the Barents Sea. Contract value is approximately NOK 80 million.

DryShips Inc. Secures Option to Construct UDW Drillships

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has entered into an agreement with a major South Korean shipyard, for the option to construct up to four ultra deepwater drillships.

Maersk and Argos Settle $14 million Dispute

Maersk Line and UK retailer Argos have settled a US$14 million dispute over allegations that the carrier reneged on a contract to ship 5,000 40ft containers. It is not known what the terms of the settlement were, but in a brief statement Maersk said the companies were no longer in dispute and that the retailer…

What Impact will the Korean Crisis Have on the World Economy

After the reports of the Korean crisis stock markets immediately where effected. The question is how it would it effect the development of the recovery from the world financial crisis if the Korean dispute escalates. Shipping is still struggling and it would certainly be a huge set back for the industry. BBC reports as below: “What is motivating North Korea?…

SHI Achieves Annual Order Target of USD 8 Billion

Samsung Heavy Industries announced on the 7th that it was the first domestic shipbuilder to achieve its order target for the year of USD 8 billion, a target that it met when it received an order for a unit of wind turbine installation vessel from a Southeast Asian shipper and a unit of FPU for oil production from North America amounting to USD 0.8 billion.

Odfjell sells ship for recycling

Odfjell has agreed to sell the MT Bow Panther (40,263 DWT/built 1986), a parcel tanker with coated tanks, for recycling in India. The vessel will obtain Green Passport prior to delivery and Buyers undertake that the recycling yard shall submit a working plan corresponding to IMO guidelines for ship recycling. The sales price will give…

Cargotec Lay-Off Employees in Tampere

Cargotec has completed cooperation negotiations with its current supply personnel regarding reduction of work force in Tampere, Finland on 22 November 2010. The negotiations resulted in a permanent reduction of 90 employees in the Tampere unit, of whom 10 are office workers. The reductions will take place in phases during the coming 1.5 years. In addition, supply workers’ temporary lay-offs in the Tampere unit continue.

EMSA Orders New Vessel

The European Maritime Safety Agency (EMSA) has signed a contract to provide pollution response capacity using the Limassol, Cyprus-based tanker Alexandria. The newly-contracted vessel considerably strengthens EMSA’s oil-spill response coverage of the Eastern Mediterranean Sea, a sensitive sea area given its proximity to major oil transport routes transiting the Suez Canal, and those originating in…