China's COSCO Shipping reports $1.4 bln loss for 2016
China's COSCO Shipping Holdings Co Ltd made a loss last year of 9.9 billion yuan ($1.44 billion), the company reported on Thursday, due to both persistently weak freight rates and restructuring costs.
Freight shipping firms have been hit hard by a prolonged downturn in rates caused by overcapacity and a slowdown in global trade.
Australia: Foreign Tanker Crew Underpaid
Australia’s Fair Work Ombudsman has commenced legal action against Norwegian shipping company Transpetrol TM, alleging it underpaid dozens of foreign crew while they were working in Australian waters.
The company is facing the Federal Court in Sydney. The Fair Work Ombudsman alleges the company underpaid 61 crew a total of $255,042 when they were working on the MT Turmoil oil tanker in Australian waters between 2013 and 2015.
PH as ro-ro shipbuilding hub
The Department of Trade and Industry (DTI) will promote the Philippines -- currently the fourth largest shipbuilder in the world -- as the manufacturing hub of roll on-roll off or small vessels for the Asian market, according to Adrian Cristobal Jr., secretary of DTI.
Cristobal said demand for this type of vessels is growing not only in the Philippines but in other parts of the region such as in Indonesia.
AFP condemns beheading of kidnapped seafarer by ASG
April 17, 2017
The Armed Forces of the Philippines (AFP) condemned the beheading of Kidnap-for Ransom victim Noel Besconde by the Abu Sayyaf Group last Thursday, April 13.
“This terrorist group are all the more, by their recent barbarism, fueling the desire of the AFP to crush their beastly practice, stop their kidnap-for-ransom activities, and restore peace in Western Mindanao,” said AFP chief General Eduardo Año in a statement.
Euronav’s VLCC Alex ran aground in Java Sea
April 14, 2017 http://www.maritimeherald.com/2017/euronavs-vlcc-alex-ran-aground-in-jav...
LNG Brings Russia And China Closer
OilPrice.com April 16, 2017 http://finance.yahoo.com/news/lng-brings-russia-china-closer-170000931.html
El Faro widow turns anguish into mission for safer ships
JASON DEAREN AP 15 April 2017 https://www.boston.com/news/national-news/2017/04/15/el-faro-widow-turns...
JACKSONVILLE, Fla. (AP) — Rochelle Hamm’s eyes fill with tears when she reads her terrified husband’s last words — uttered as the cargo freighter El Faro went down in hurricane, taking the lives of Frank Hamm and 32 others.
“My feet are slipping! I’m goin’ down!” he cries after the crew is ordered to abandon ship.
“I’M A GONER!” he shouts.
Rescue Helicopter Winches Worker from Cargo Ship
16 April 2017 http://www.scoop.co.nz/stories/AK1704/S00600/rescue-helicopter-winches-w...
On Friday at approximately 11:00 am the New Zealand Rescue Coordination Center tasked Life Flight to rescue a worker from a cargo ship off the southern Hawkes Bay coast.
'Crising' strands hundreds in Bantayan island port
Joworski Alipon Apr 15 2017 http://news.abs-cbn.com/news/04/15/17/crising-strands-hundreds-in-bantay...
Hundreds of passengers are stranded at Sta. Fe port in Bantayan Island after tropical cyclone warning signal no. 1 was raised in northern Cebu due to tropical depression 'Crising.'
Trips to mainland Cebu were cancelled from 10 in the morning despite the sunny weather condition experienced all over the island Saturday morning.
Time running out for world’s top shipmaker Daewoo Shipbuilding & Marine Engineering Co. as lenders argueSubmitted by helmsman on Sat, 04/15/2017 - 09:38
Time running out for world’s top shipmaker as lenders argue
April 14, 2017 http://business.mb.com.ph/2017/04/14/time-running-out-for-worlds-top-shi...
South Korea’s National Pension Service has a decision to make – help the world’s biggest shipmaker survive, or let it die.