(File photo: Hapag-Lloyd)

THE Alliance Sets $50 Mln Insolvency Contingency Fund

Remarks from Federal Maritime Commissioner William P. Doyle at the FTR Transportation Conference 2017, Indianapolis, Ind.    On September 13, 2017, I voted to expedite the Commission’s decision and support THE Alliance’s amendment authorizing creation of a contingency trust fund designed to protect customers’ cargo and the ocean transportation chain should one of THE Alliance’s carriers experience financial distress or an insolvency event.

(Image: Inatech)

Global Bunkers, 2020 and Developing Market Trends

Alok Sharma, Head of Global Sales at Glencore’s Inatech, provides an in-depth look at what’s coming next for one of the maritime industry’s most interesting and important sectors.   When it comes to bunkers, the OW crisis is still fresh in everyone’s mind, Environmental Control Areas (ECA) are very much in place and the changes mandated to come for bunkers in 2020 are also closer than one would think.

People & Company News

Steve Walker, managing director of JD Neuhaus (left); and Colin Naylor, managing director of Lifting Gear Hire. (Photo: LGH)

LGH Acquires JDN’s UK Hire Division

Lifting Gear Hire (LGH) has acquired the Aberdeen-based hire division of JD Neuhaus (JDN) Ltd., a manufacturer of hoists and crane systems for extreme environments.    JDN, headquartered in Germany, will retain its other U.K. divisions, including sales and repair, and will remain an LGH supplier. The value of the transaction was not disclosed.   The acquisition, which comes less than a year after LGH re-launched in the U.

Shipbuilding

File photo: Hyundai Heavy Industries

Dim Q3 Forecast for Korean Shipyards

 South Korea's major shipyards are projected to report weaker-than-expected earnings for the third quarter of the year, due to increased costs and the construction of low-priced ships amid decreased new orders.   Yonhap News Agency, quoting data compiled by Yonhap Infomax, said that Hyundai Heavy Industries (HHI) is expected to log an operating income of 106 billion won (US$93.

Offshore

Photo: Nordic American Offshore Ltd

Nordic American Appoints New CFO

 Nordic American Tankers (NAT) and Nordic American Offshore (NAO) has appointed Bjørn Giaever (50) as Chief Financial Officer (CFO).    He is expected to join us later this year and as early as possible. Giaever joins NAT/NAO from the well reputed firm of Fearnley Securities AS with main office in Oslo, Norway.    This is an investment bank with special focus on the maritime sectors, where he served as a director and partner in the Corporate Finance division.

Finance

Telenor Connexion joins Business Sweden delegation to Korea to discuss next generation of transportation in smart cities. (Photo: courtesy of Business Sweden)

Swedish Transportation Delegation Visits Seoul

Sweden’s Minister for EU Affairs and Trade to Seoul, Anne Linde, and a high level Swedish business delegation, including Seth Ryding, Head of APAC at Telenor Connexion, are invited as key partners for the Next generation transportation in Smart Cities summit in Seoul on September 20-21. South Korea has for many years been one of the fastest growing economies in the world and today the country is ranked as the 12th largest economy globally considering purchasing power.

Government Update

Garamendi receives the Hirsch Award from the Navy League of the United States (Photo: Navy League)

Garamendi Receives Navy League's Hirsch Award

U.S. Congressman John Garamendi (D-Fairfield, Davis, Yuba City, CA), Ranking Member of the Subcommittee on the Coast Guard and Maritime Transportation, received the Vincent T. Hirsch Maritime Award for Outstanding Leadership from the Navy League of the United States. The ceremony occurred at the California State University Maritime Academy. The Hirsch Award is presented

Education/Training

HR Wallingford has created a River Thames navigation simulation to assess Tideway’s fleet of vessel masters (Photo: HR Wallingford)

River Thames Simulation Supports Safer Navigation

The Thames Tideway Tunnel project, London’s new ‘super sewer’, which will upgrade the city’s 19th century sewerage system for today’s eight million plus inhabitants, requires excavation on an enormous scale. Creating a tunnel 25 kilometers in length, and running up to 65 meters beneath the River Thames, will generate immense volumes of spoil, right in the heart of London.

Casualties

Image: Maritime and Port Authority of Singapore (MPA)

Singapore: Dredger Sank After Colliding with Tanker, 5 Missing

 The divers have recovered two bodies out of the five missing crew of JBB DE RONG 19, following the collision between Indonesian-registered tanker KARTIKA SEGARA and Dominican-registered dredger JBB DE RONG 19 that occurred in Singapore territorial waters at about 12.40am (Singapore time) on 13 September 2017.   At the point of collision this morning, 12 crew members were onboard JBB DE RONG 19.

Logistics

(Image: TRAC Intermodal)

TRAC Intermodal Unveils Two New Mobile Apps

 TRAC Intermodal has introduced two new mobile applications that set out to improve and simplify customer access to emergency road service and online chassis booking: TRAC Interstar’s road service app, RoadStar, and TRAC Intermodal’s EZBook 2.0 app.   The RoadStar app provides motor carriers with real-time visibility and tracking of their emergency road repair requests and provides seamless updates to all parties in the repair chain.