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Monthly Archives: June 2016

Dubai passenger traffic surges 7.2pc in May

Passenger numbers at Dubai International Airport (DXB) continued an upward trend in May with the airport welcoming 6.7 million passengers, thus registering a 7.2 per cent growth over the same period in 2015. According to the monthly traffic report issued by operator Dubai Airports on Wednesday (June 30), the passenger numbers at DXB for May last year stood at 6.26 ...

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Saudi Arabia launches $1.2bn residential project

Saudi Arabian government has embarked on a major plan to build 7,000 new villas at an investment of SR4.48 billion ($1.19 billion) on a 6.5 million sq m area in the eastern part of Riyadh, said a report. The project, called “East Gate” is the first being implemented by the Ministry of Housing in collaboration with the private sector, to ...

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Navies Move Forward With Unmanned Systems

The navies of the U.S. and UK are making strides towards a future that is less manned and more automated, with drone devices on the surface, underwater and in the air to provide a wide variety of capabilities – from mine countermeasures to air strikes. Early this week, Rear Admiral Paul Bennett of the Royal Navy opened a “foyer day” ...

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Royal Caribbean to Build New Terminal at PortMiami

On Tuesday, Royal Caribbean announced that it has reached an agreement for the construction and operation of a new cruise terminal at PortMiami on land leased from Miami-Dade County. The terminal will be the home port to a 5,400 passenger Oasis-class cruise ship, the world’s largest. “This new terminal is a symbol of our commitment to Miami, the city where ...

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Court to Rule on S. China Sea Claims in Mid-July

In a statement Wednesday, the Permanent Court of Arbitration said that on the morning of July 12, it will issue its ruling (“Award”) on a case brought by the Philippines against China over territorial claims in the South China Sea. The ruling is widely expected to go in favor of the Philippines, and China is not expected to abide by ...

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Petrobras Cancels Seven Tankers at EAS

On Wednesday, Petrobras’ shipping arm Transpetro confirmed that it had canceled orders for seven tankers from the shipyard Estaleiro Atlantico Sul (EAS). Transpetro has already taken delivery of seven and will retain orders for a further eight ships, comprised of three Suezmax and five Aframax tankers. Delivery will be complete by the end of 2019. The orders were originally placed ...

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El Faro VDR Recovery Mission Delayed

  The U.S. National Transportation Safety Board has delayed its mission to recover the El Faro voyage data recorder (VDR) until the first week of August.The mission had been scheduled for early July, but the Board is still organizing resources for the expedition which is expected to last about two weeks. The El Faro, a U.S. flagged cargo ship, sank ...

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COSCO Argues Piraeus Port Sale Terms

On Wednesday, COSCO Greece objected to terms submitted to parliament for the sale of Piraeus Port to China COSCO Shipping, saying they were inconsistent with those previously agreed with the Greek privatization agency. Greece sealed the sale of Piraeus Port Authority to China COSCO Shipping Corporation in April, a major step for the bailed-out country in meeting the demands of ...

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Stena Line May Reflag UK Vessels Following Brexit

The UK-based mariners’ union Nautilus International has issued a statement calling on British shipowners to remain calm and move slowly following the recent national referendum on exiting the EU (the “Brexit” vote). The union said that Sweden-based ferry operator Stena Line has already warned members that it may flag out its roughly 30 UK-registered vessels as a result of the ...

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Wheat Piles Up at Indonesian Ports

Indonesia is “controlling” wheat imports to encourage animal-feed mills to use domestic corn supply, an agriculture ministry official said on Wednesday, the latest in a string of trade measures Indonesia has imposed to improve food self-sufficiency. Indonesia’s wheat imports have jumped after corn imports were capped this year. Nasrullah, director of animal feed at the agriculture ministry said the government ...

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World’s Largest Seep Hunt Ramps Up

  Geotechnical service provider Fugro is ramping up operations at the world’s largest offshore hydrocarbon seep survey being conducted in the Gulf of Mexico. The survey, planned to cover an area of approximately 625,000 square kilometers (240,000 square miles), is being carried out for Norwegian survey company TGS as part of its industry-funded, multi-client Gigante Survey. With the 18-month project, TGS aims ...

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Nautilus Struggles to Finance Deep Sea Mining Project

  Nautilus Minerals has announced that it is looking to secure bridging finance in order to continue the Solwara 1 seafloor mining project planned offshore from Papua New Guinea.The company requires significant additional funding in order to complete the construction and deployment of the seafloor production system to be used. If unsuccessful in obtaining financial backing, the company will consider ...

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300-Year-Old Ship From Voyage of La Salle Restored

  Conservators and students at Texas A&M University have finally finished a two-decade effort to restore the wreck of La Belle, a French sailing vessel which grounded and sank in Matagorda Bay over 300 years ago. Dr. Peter Fix, a conservator with the university’s Conservation Research Laboratory, managed the project from early stages to completion. “It’s been exciting, a huge headache ...

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Italian Navy Raises Migrant Ship

The Italian Navy has raised a migrant vessel that sank off Sicily in April 2015 causing around 800 deaths. The boat capsized 193 kilometers south of the southern Italian island of Lampedusa, about 85 miles northeast of Libya, when its occupants moved to one side as a merchant ship approached. Only 28 people are believed to have survived. The Italian ...

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Birthday: Ten ‘major powers of life’ discovered in my 40 years on earth- Sulaiman Adenekan

  (TRADE NEWSWIRE): June 27, 2016 marks my 40 years of existence on the surface of earth and had so far been full of several experiences which had made me to identify what I, based on years of several PRACTICAL tests, considered ten important powers of life, TRADE NEWSWIRE reports. 1- GOD; 2- PARENT; 3- WIFE; 4- CHARACTER/ DISCIPLINE; 5- ...

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We are now pragmatic in handling Nigerian maritime potentials- Peterside

  (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that the agency is now handling the nation’s maritime potentials pragmatically and no longer rhetorically as previously handeled, TRADE NEWSWIRE reports. A statement obtained by a World-renowned First rate Public Relations Professional and Head of Corporate Communications, NIMASA, Hajia Lami Tumaka, ...

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Maritime development: Peterside unfolds five strategic work plans of NIMASA

  (TRADE NEWSWIRE): The Director-General, Nigerian Maritime Administration and Safety Agency, Dr. Dakuku Peterside, has unfolded five pillars that will form a strategic work plan of the agency for the development of Nigerian maritime sector, TRADE NEWSWIRE reports. He unfolded the strategic work plan at an engagement with the maritime media corps on Wednesday in Lagos. He said, “NIMASA is ...

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We will reposition NIMASA technologically to meet-up with present day challenge- Peterside

(TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that the agency would utilise technology to its fullest to reposition the agency to meet the present day challenge of the maritime sector, TRADE NEWSWIRE reports. The DG said this when members of the Lagos Chapter of the Information Systems Audit ...

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NIMASA commences issuance of biometric card to dockworkers

(TRADE NEWSWIRE): The Nigerian Maritime Administration and Safety Agency (NIMASA), has commenced the process of issuing biometric identity cards for dockworkers, TRADE NEWSWIRE reports. The Director-General, NIMASA, Dr. Dakuku Peterside, said this when the leadership of the Maritime Workers Union of Nigeria (MWUN) led by the President General, Comrade Anthony Nted Emmanuel paid a courtesy visit to the Agency’s Headquarters in ...

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Standard Operating Procedures, PSSP strategic to development of maritime sector-Peterside

  (TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA), Dr. Dakuku Peterside, has said that Standard Operating Procedure (SOP) and the Port Service Support Portal (PSSP) are digital management instruments that are strategic to the development of ports and the entire maritime sector in general, TRADE NEWSWIRE reports. Peterside, according to a statement obtained ...

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EIA: New Panama Locks Won’t Affect Tanker Market

In its latest weekly review of trends in petroleum, the U.S. Energy Information Agency examined how the new Panama Canal expansion will affect crude and product supplies on the North American market – and forecasts that it will have little impact. “Because of the economics of shipping, trade patterns, and the types of ships used to transport crude and petroleum products, ...

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Aisha Buhari in The US Different From Nigeria First Lady Aisha Buhari, SaharaReporters Finds

A SaharaReporters investigation into criminal activity in the United States by one Aisha Buhari confirms that the perpetrator is not the First Lady of Nigeria, Aisha Buhari.  SaharaReporters began its latest investigation following the circulation of reports that Mrs. Buhari—wife of President Muhammadu Buhari—was involved in a bribe scheme in 2002 in which she wired the sum of $170,000 to ...

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Smokers may try to quit 30 times before it sticks

Though conventional wisdom says it takes five to seven attempts for most smokers to quit, those estimates may be very low, a recent study suggests. Based on data for more than 1,200 adult smokers in Canada, the real average number of quit attempts before succeeding may be closer to 30. “For so long we’ve been talking about five to seven ...

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Boeing’s Iran deal covers 109 jets including 747s: Iran official

PARIS: A provisional deal between Iran and Boeing to acquire jets for the country’s national airline covers 109 aircraft, split about equally between narrow-body and long-range wide-body aircraft, an Iranian official told Reuters on Wednesday. In addition to the 737 and 777 models announced earlier this week, IranAir also envisages acquiring some of the latest version of Boeing’s iconic 747 ...

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IMF sees US economy in ‘good shape’, too many in poverty

WASHINGTON: The International Monetary Fund said on Wednesday the U.S. economy was “overall in good shape”, with growth set to accelerate from recent setbacks despite an overvalued dollar, but the Fund warned that too many Americans were living in poverty. The IMF expects U.S. growth to be 2.2 percent in 2016 and 2.5 percent in 2017, with inflation rising slowly ...

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Big businesses raise Brexit alarm on eve of vote

  LONDON: More than 1,200 business titans united on Wednesday (Jun 22) to warn against Britain breaking with the EU, as rivals scrambled for the last votes on the eve of a tightly fought referendum that will shape Europe’s future. The world’s fifth-largest economy will suffer a powerful blow to growth and jobs, corporate chiefs warned, if Britain becomes the ...

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China Internet regulator to crack down on online comments

BEIJING: China’s Internet regulator has launched a new campaign to clean up the comments sections on websites to prevent the spread of what it calls “harmful content” and to encourage what it considers “more helpful, well-intentioned” comments to appear. In a statement late on Tuesday (Jun 21), the Cyberspace Administration of China said the crackdown on comments sections was aimed ...

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China weighs on 2015 global industrial robot sales growth

MUNICH, Germany: Global industrial robot sales growth slowed to 12 percent in 2015 weighed by a sharp fall in top buyer China, data from the International Federation of Robotics (IFR) showed on Wednesday. The figure was less than half the 29 percent advance seen in 2014 but revised up from a previous IFR estimate of 8 percent due to more ...

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Human flights to Mars still at least 15 years off – ESA head

DARMSTADT, Germany: Dreaming of a trip to Mars? You’ll have to wait at least 15 years for the technology to be developed, the head of the European Space Agency (ESA) said, putting doubt on claims that the journey could happen sooner. “If there was enough money then we could possibly do it earlier but there is not as much now ...

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Dubai, Abu Dhabi among top 25 most expensive cities

Dubai and Abu Dhabi in the UAE have been ranked among the 25 most expensive cities to live in the world, according to the latest Cost of Living Survey published by Mercer, a global consulting leader. The global rankings see Dubai as the 21st  most expensive city in the world, a rise of two places in comparison to last year, ...

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EGA to launch construction of bauxite mine in Guinea

Emirates Global Aluminium (EGA) will begin construction on a major bauxite mine in the Republic of Guinea, to secure supply of the high-quality raw material for its primary aluminium production facilities in the UAE. EGA also aims to create a new, substantial revenue stream through significant exports to Asia, a company statement said. EGA announced it has received final approval ...

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Rosneft: OPEC Has Lost its Power

Igor Sechin, the head of Russia’s top oil producer Rosneft, said on Tuesday that Saudi Arabia, the United States and Russia were the three main players on global oil markets, dismissing again OPEC’s role as a regulator. He told Rossiya-24 TV that Russia’s role in hydrocarbon markets will strengthen. Russia is the world’s top oil and natural gas producer, pumping ...

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European Central Bank Reviews Shipping Loans

The European Central Bank has launched a review of banks’ lending to the shipping industry, much of which is suffering a deep downturn, five people familiar with the situation told Reuters. The review by the ECB’s banking supervisor has raised concerns among lenders, particularly in Germany, that they may be required to set aside more capital and make higher loss ...

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Rolls-Royce: Autonomous “Revolution” Has Begun

On Tuesday, Rolls Royce and its partners in the Advanced Autonomous Waterborne Applications (AAWA) initiative released a white paper on their vision for the future of computer-controlled merchant vessels – and they believe that we will see the first such ship by the end of the decade. “Autonomous shipping is the future of the maritime industry. As disruptive as the ...

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Mitsubishi Reconsiders its Cruise Ship Business

Mitsubishi Heavy Industries is revisiting its position in the cruise ship building industry following long delays and steep writeoffs on the AIDAprima and her yet-to-be-named sister ship, which is still under construction. In a presentation on the group’s third quarter 2015 financial results in February, president and CEO Shunichi Miyanaga told investors that it was time for transparency on the ...

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DNV GL: The Primary Factors in Ro/Ro Fires

DNV GL has published a new paper on the risks of fire within vehicle spaces on ro/ro and ro/pax ships. The society studied 18 fires on ro/pax ships, eight fires on cargo ro/ros, and nine fires on pure vehicle carriers over a period from 2005 through 2016 (or 35 fires on 2100 ships); in general they found that the incidence ...

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India-U.S. Naval Cooperation May Have Limits

  Indian observers are enthused by the possibilities that have emerged as a result of the recent agreements between India and the US, in particular a maritime logistics pact and the resulting prospect of  joint India-US naval operations. Indeed, with the India-US-Japan Malabar naval exercises in the seas of Okinawa timed to nearly coincide with Modi’s Washington visit, there is speculation that Indian naval ...

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N. Korea Fires Two Missiles Over Sea of Japan

North Korea launched what appeared to be a second intermediate-range Musudan missile on Wednesday morning after another launch hours earlier failed, South Korea’s military said. It was not immediately clear if the second launch, about two hours after the first, was successful. The first missile was launched from the east coast city of Wonsan, a South Korean official said, the ...

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Kemp: Oil Demand Is Not Slowing Down

“Peak oil demand” has become a fashionable concept among climate campaigners but the evidence suggests oil consumption is growing at the fastest rate for a decade and shows no sign of letting up. Global oil consumption increased by nearly 1.9 million barrels per day (bpd) in 2015, the largest annual increase since 2004, apart from the post-crisis bounce recorded in ...

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Fuel Lightering Begins on Grounded Bulker

On Monday, pumping equipment was airlifted aboard the grounded bulker Benita to facilitate lightering of her fuel to shoreside tank trucks. However, operations at the site near Le Bouchon, Mauritius were suspended for the day due to rough conditions. Pumping resumed Tuesday, and 17 of the 125 tonnes of fuel aboard were removed, local media said. The operation is expected ...

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‘Nigeria has lost a legal icon from Niger Delta’! Peterside laments as he mourns Justice Niki Tobi

  (TRADE NEWSWIRE): “Nigeria has lost a great son. For us in the Niger Delta, this is an irreparable loss because the great Justice Tobi served humanity diligently and selflessly, TRADE NEWSWIRE reports. “We will always remember him for his invaluable interventions and wise counsel. Nigerians will also miss his wide knowledge of legal principles, both as a teacher and ...

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NIMASA moves to automate revenue collection processes, ensures transparency in calculating 3% levies on cargo

  (TRADE NEWSWIRE): The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that the agency is set to automate its revenue-payment collection processes and adopt a more transparent ways of calculating the three percent levy charged on all inbound and outbound cargo, TRADE NEWSWIRE reports. Peterside, according to a statement obtained by TRADE NEWSWIRE from ...

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IMF says Brexit impact ‘negative and substantial’ for UK

LONDON: warned on Friday (Jun 17) that if Britain votes to exit the European The International Monetary Fund Union next week it could deal the economy a “negative and substantial” blow. In the worst-case scenario, the economy would sink into recession next year and overall economic output would be 5.6 per cent lower than otherwise forecast by 2019, with unemployment ...

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Capsule carrying space station crew lands in Kazakhstan

ZHEZKAZGAN, Kazakhstan: A soyuz capsule bringing back three astronauts from the International Space Station, including the first to represent the British government, made a safe parachute landing on the steppe near the Kazakh city of Zhezkazgan on Saturday. The crew, which included a Russian and an American as well as Britain’s Tim Peake, left the space station about three hours ...

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Hologic wins emergency US authorization for Zika test

Hologic Inc won emergency U.S. authorization to sell its Zika test, expanding the number of public and private labs that can test for the virus as health officials brace for a rise this summer in the number of infections. The U.S. Food and Drug Administration granted emergency use authorization for the company’s Aptima test to detect Zika virus in human ...

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Abu Dhabi levies airport, hotel taxes to boost revenues

Abu Dhabi is introducing taxes on airline passengers and hotel guests as it seeks to compensate for a hit to government revenues from low oil prices. Airline passengers departing from or transiting through Abu Dhabi International Airport will be charged an airport tax of Dh35 ($9.53) from June 30, said the Abu Dhabi government’s official gazette. “Airlines will be responsible ...

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Second flight recorder retrieved from crashed EgyptAir jet

A second flight recorder has been retrieved from the crashed EgyptAir flight MS804, containing data from aircraft systems which could shed light on what brought the plane down last month, Egyptian investigators said on Friday. An Egyptian committee investigating the crash into the eastern Mediterranean Sea, which killed all 66 people on board, made the announcement a day after search ...

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Siemens, Gamesa form world’s largest windfarm business

  Siemens and Spain’s Gamesa agreed on Friday to create the world’s biggest builder of windfarms, with the German company paying 1 billion euros ($1.13 billion) for a majority stake in the combined business. The group would bring together Siemens’ strength in offshore wind power and Gamesa’s leading role in developing markets. Months in the making, the venture would overtake ...

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Rolls-Royce’s Vision Next 100

Rolls-Royce unveiled a driverless electric concept car which it says defines the future of luxury car travel at a spectacular event in London’s Roundhouse. The Rolls-Royce Vision Next 100 concept is codenamed 103EX. It is the marque’s first ever pure ‘vision vehicle’ from Rolls-Royce.

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Saudi contractor MMG’s founder, son get 5 years jail

Saudi Arabia’s market regulator fined contractor Mohammed Al Mojil Group (MMG) and sentenced two of its executives to five years in prison for breaching rules relating to accumulated losses, the firm said on Friday. The Capital Market Authority’s (CMA) Committee for the Resolution of Securities Disputes, which judges securities cases in Saudi Arabia, fined MMG SR1.6 billion ($427 million), a ...

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Abraaj eyes $1bn Latin America investments in 5 years

Abraaj Group, one of the largest private equity investors in developing markets, will double its assets under management in Latin America to about $1.5 billion over the next five years, said its regional head. A Dubai-based emerging market investment fund, Abraaj had opened its first Latin America fund in 2008 and has invested solely in the so-called Pacific Alliance countries ...

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Dubai wins bid to host World Real Estate Congress in 2018

Dubai has won the bid to host the 69th edition of World Real Estate Congress, a mega event which make its debut in the Middle East region, in 2018. The successful bid was led by Dubai Business Events (DBE), the city’s official convention bureau and a division of Dubai Tourism, in partnership with the Dubai Real Estate Institute (DREI), the ...

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NIMASA ready to partner training institutions for development of local content in maritime sector-Peterside

  (TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has expressed the agency’s readiness to partner training institutions to develop local content in the nation’s maritime sector, TRADE NEWSWIRE reports. A statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public Relations Professional and Head of Corporate Communications, NIMASA, Hajia Lami ...

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WHO says 122 million dollars needed for global response to Zika virus

LONDON: Almost US$122 million is needed to prevent and manage the medical complications of the Zika virus spreading throughout the Americas and causing birth defects in babies, the World Health Organization said on Friday. A specific focus is needed on supporting women and girls of child-bearing age, the UN health agency said as it set out a revised joint strategy ...

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Yilport Buys Turkey’s Largest Liquids Terminal

Turkish ports holding company Yilport has purchased 100 percent of Turkey’s largest liquids terminal, Solventas Technical Storage in Dilovasi, Gulf of Izmir. Solventas operates more than 200 shoreside storage tanks and two quays of more than 700 feet each. Yilport will merge its Gebze product terminal with Solventas’ facility to form a new entity, Yilport Dilovasi Liquid Terminal, with a ...

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India Carries Out Port Security Audits

India’s Home Minister Rajnath Singh called Thursday for intensified efforts to secure the nation’s ports and coastal waterways against terrorist infiltration and attack. “The vulnerability of our coasts was exposed in 1993 when explosives were smuggled into Raigad and then in 2008 when terrorists attacked Mumbai,” he said in a social media message. “We need to make our coastal security ...

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Hong Kong Port Sees Growth from “One Belt, One Road”

Hong Kong’s crucial shipping trade is hoping China’s overseas infrastructure plan and closer business ties with Iran will enable the city to tackle the downturn in the seaborne sector and tougher competition, officials said. The global container sector, which transports everything from bananas to iPhones, as well as the dry bulk shipping market hauling commodities including iron ore and coal, ...

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Piraeus Longshore Strike to Continue

Longshoremen at Piraeus, Greece said Thursday that they would continue the series of 48-hour rolling strikes that began in late May. “The strike will continue until our demands are met. The government needs to listen to the demands of unions and secure labor relations in the ports of Piraeus and Thessaloniki. We will not accept a precarious labor model at ...

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Port of LA Announces Busiest Month of May Ever

The Port of Los Angeles announced Wednesday that last month was the busiest May it has ever had. Overall cargo volumes at the Port of Los Angeles increased nearly 11 percent in May compared to the same period last year. Total volumes registered at 770,000 TEU – more than any other May in the port’s 109-year history – and container ...

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Jacksonville Port Gets New Post-Panamax Cranes

The Jacksonville Port Authority (JAXPORT) has announced that three newly constructed 100-gauge cranes are on their way from Shanghai, carried aboard the heavy lift ship Zhen Hua 14. They are expected to arrive in August. Each crane has a 22-container reach and will significantly increase Blount Island Terminal’s cargo-handling capacity. These cranes will join the larger cranes already in use ...

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Myanmar Struggles to Clear Port Bottleneck

Myanmar’s new government has been grappling with its first economic management crisis, as a weeks-long traffic jam of cargo ships at the country’s biggest port threatens to scare potential investors away and choke off nascent economic growth. The bottleneck at the dilapidated port was caused by a spike in demand for goods as the opening up of the economy accelerates ...

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First Indian Supplies for Chabahar Port Set to Ship

India has announced plans for major investments at the Iranian port of Chabahar – and on Thursday, an Indian official told media that the first shipment of the program will be sent next month. “The maiden consignment of rail from India worth $150 million would be sent to Iran in July,” the source said, following a meeting between transport minister ...

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NIMASA offers Maritime cadets sea time experience backed with Certificates of Competency

  (TRADE NEWSWIRE): The Nigerian Maritime Administration and Safety Agency (NIMASA), is set to offer graduate- cadets of the Nigerian Seafarers Development Programme (NSDP) the required sea time experience that will lead to the issuance of Certificates of Competency, TRADE NEWSWIRE reports. The Director-General of NIMASA, Dr. Dakuku Peterside, said this while receiving 100 cadets of the scheme upon graduation ...

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Who Are the Niger Delta Avengers?

The writer of this article is Dirk Steffen, a Commander (senior grade) in the German Naval Reserve with 12 years of active service between 1988 and 2000. He took part in the African Partnership Station exercises OBANGAME EXPRESS 2014, 2015 and 2016 at sea and ashore for the boarding-team training and as a Liaison Naval Officer on the exercise staff. ...

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Small Banks Help Iran Handle Trade Transactions

Iran is gradually restoring banking links with the rest of the world by forging ties with smaller foreign institutions, even though large global banks are still holding back because of legal risks, Iranian officials and foreign bankers say. Since international sanctions over Iran’s nuclear programme were lifted in January, the world’s big banks have continued to stay away because they ...

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Photos: USS Jackson Completes First Shock Trial

  The U.S. Navy reported Wednesday that the USS Jackson, the Navy’s third Independence class Littoral Combat Ship (LCS), has completed its first shock trial.The Navy conducts near-miss explosives testing on new classes of surface combatants, typically in mid-production. Critics say that the tests can add to procurement costs due to vessel damage and repairs, but the Navy says that ...

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Very hot drinks ‘probably’ cause cancer: UN body

PARIS: Drinking very hot beverages “probably” causes cancer of the oesophagus, the UN’s cancer agency said on Wednesday (Jun 15), while lifting suspicion from coffee if consumed at “normal serving temperatures”. “These results suggest that drinking very hot beverages is one probable cause of oesophageal cancer and that it is the temperature, rather than the drinks themselves, that appears to ...

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Solar, wind power costs set to fall 59pc

  The average costs for electricity generated by solar and wind technologies could decrease by between 26 and 59 per cent by 2025, according to a report released today by the International Renewable Energy Agency (Irena). The report, “The Power to Change: Solar and Wind Cost Reduction Potential to 2025”, finds that with the right regulatory and policy frameworks in ...

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Petrobras Plans Wage and Hour Cuts

  Brazil’s Petroleo Brasileiro SA plans to propose a deal with unions to reduce salaries and working hours at the state-run oil company to help cut a massive debt, newspaper o Estado de S. Paulo said on Tuesday. Petrobras Chief Executive Officer Pedro Parente will propose cutting salaries by as much as 25 percent starting in September, Estado said, citing ...

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CMA CGM Executives Take Top Posts at NOL

  As CMA CGM moves towards full ownership of Neptune Orient Lines, it has reconstituted NOL’s board to include several CMA representatives and emplaced a new CEO and CFO from the ranks of the French line’s executives.NOL’s board named CMA’s Group SVP of Asia-Europe Nicolas Sartini as NOL Chief Executive Officer (replacing Ng Yat Chung) and VP of corporate control Serge ...

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U.S. Navy Plans Thorough Review of Enlisted Ratings

Since January, the U.S. Navy’s civilian and military leadership have been planning for a new set of titles for enlisted ratings that are intended to reflect inclusion of women in previously closed positions. The service said in an announcement Tuesday that it would be taking this as an opportunity for a more thorough review of titles to improve staffing practices ...

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U.S. Coast Guard Gives Update on Icebreaker Plan

In a hearing of the House Subcommittee on Coast Guard and Maritime Transportation on Tuesday, chairman Rep. Duncan Hunter (R-CA) asked U.S. Coast Guard vice commandant Adm. Charles D. Michel pointed questions over the acquisition of replacement heavy ice breakers – and asked whether having more than one working vessel of the class is necessary. The Senate is planning to ...

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Activists Confront Chinese Forces at Scarborough Shoal

  A group of activists with Philippine advocacy groups Kalayaan Atin Ito and Sea Access for International Law (SAIL) took a 90 foot wooden fishing boat to waters near disputed Scarborough Shoal, where they were confronted by Chinese coast guard vessels and small-boat teams.Scarborough Shoal has been a long-standing flash point for Philippine and Chinese interests in the South China ...

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Microsoft acquires LinkedIn for $26.2bn

   Microsoft and LinkedIn want more of your workday Nobody takes a five-minute break to check their Microsoft. Despite its pioneering role in the PC revolution, Microsoft doesn’t command the daily — even hourly — attention that computer users pay to Facebook, Twitter and other social networks. That may change. With its $26.2 billion acquisition of LinkedIn, Microsoft seeks to ...

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Global entertainment revenues on track to top $2trn

  Total worldwide entertainment and media revenues will rise at a compound annual growth rate (CAGR) of 4.4 per cent in nominal terms over the coming five years, from $1.72 trillion in 2015 to $2.14 trillion in 2020, according to PwC’s Global entertainment and media outlook 2016–2020. This growth rate represents a slowdown from last year’s 5.5 per cent growth ...

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UAE salaries likely to increase by 4.6pc next year

Wages in the United Arab Emirates are set to rise by an average of 4.6 per cent in 2017, following an average increase of 4.9 per cent this year, according to Willis Towers Watson’s latest Salary Budget Planning Study. The inflation rate in the UAE in the past two years has been an average of 4 per cent; however, there ...

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Saudi cabinet approves land tax, foreign investment rules

  Saudi Arabia’s cabinet approved a tax on undeveloped urban land and rules allowing foreign investors to own 100 per cent of retail and wholesale businesses, the official SPA news agency said on Monday. The 2.5 per cent annual tax on the value of undeveloped land designated for residential or commercial use will be applied in stages to owners of ...

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Maersk Heir Takes Top Post in Holding Company

A.P. Moller-Maersk on Monday appointed the grandson of Maersk Mc-Kinney Moller, who transformed a family shipping business into an international conglomerate, as chief executive of the holding company behind the Danish shipping giant. Robert M. Uggla, 38, who has been CEO of Maersk-owned tug boat operator Svitzer since 2012, will take on the position as CEO of A.P. Moller Holding ...

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Cloud Computing Arrives for Port Agents

The days of large shipping companies specifying, commissioning and developing bespoke software systems are almost behind us. Two or more decades ago, the well-known names would invest significant sums and many thousands of man-hours building individual IT systems to manage the back office processes required to keep their operations running efficiently. More recently, and due in large part to advances ...

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Park Calls for “Bone-Crushing” Shipyard Reform

On Monday, South Korean President Park Geun-Hye called for “bone-crushing” overhauls of the nation’s Big Three shipbuilders, Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries. “The [shipbuilding] companies, along with creditor banks, should make bone-crushing efforts to revive their businesses,” she said in a speech to parliament Monday. “If we don’t carry out a bold restructuring ...

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Two Bulkers Go Aground Off Philippines

The geared bulkers Chang Hang Feng Hai and Belle Rose separately went aground off islands in the Philippines over the weekend, the nation’s coast guard reports. The Chinese-flagged Hai went onto a shoal off the island of Cagdianao on Saturday, damaging her number two ballast tank on the port side. All 22 crew members are safe. The Coast Guard called ...

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Arctic Nations’ Coast Guards Increase Cooperation

  On Friday, U.S. Coast Guard Commandant Adm. Paul Zukunft joined the leaders of coast guard agencies from all of the seven other Arctic nations – Canada, Denmark, Finland, Iceland, Norway, Sweden and the Russian Federation – to sign a landmark joint statement on creating a strategic framework for the Arctic Coast Guard Forum, an operationally-focused consultative organization.”Today’s signing ceremony marks the culmination of ...

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Norwegian Oil Labor Union Threatens Strike

Wage negotiations between Norwegian oil and gas firms and their employees will be particularly difficult this year and may lead to a strike that would limit output from Western Europe’s top producer, a labor union said on Monday. A final round of mandatory talks will be hosted by a state mediator on June 30 and July 1 in an effort ...

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Merchant Ships Search for Migrant Boat in Distress

A boat carrying about 200 migrants which had sent out a distress signal off Crete on Monday was spotted safe and sailing to Italy, the Greek coast guard said. Greece had ordered a Greek-flagged tanker and a Panama-flagged freighter earlier on Monday to search for the 25-metre long fishing vessel after it sent out a mayday signal about 80 nautical ...

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Canada to Build Off-the-Shelf Warship Design

On Monday, Canadian public services and procurement minister Judy Foote confirmed that her office would be accelerating the procurement process for as many as 15 replacement “Canadian Surface Combatants” by using an off-the-shelf hull design, cutting two years off of the first delivery date and helping to bridge a gap between the retirement of Canada’s aging destroyers and the sea ...

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Final Subchapter M Rule Released

On Monday, the U.S. Coast Guard posted a preview of the final version of the long-awaited Subchapter M regulation, which will extend inspection requirements to the majority of tugs and towboats (over 26 feet in length) for the first time. The text will be officially published in the Federal Register on May 20. The USCG estimates that the regulation will ...

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NIMASA pledges ‘enactment of regulations to enforce IMO instrument’, others indentified in IMSAS report

.Report lauds expertise of NIMASA personnel (TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has pledged to implement the just-concluded interim report of the International Maritime Organisation Member States Audit Scheme (IMSAS), for the development of the Nigerian maritime sector, TRADE NEWSWIRE reports. The just-concluded interim report of IMSAS suggested among ...

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Extending the Great Silk Road into Central Africa

The Great Silk Road is an ancient trading route that dates back some 3,000-years which connected across Asia between China and the Mediterranean lands. Advances in maritime transportation technology that date back over 1,000-years moved the trade from land to sea. Boats with a central longitudinal-vertical plank installed under the hull, a triangular sail and a plank at the stern ...

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South Korea Moves to Halt Illegal Chinese Fishing

South Korea and the U.N. Command, which oversees the Korean War armistice, said on Friday they had begun a joint operation to keep Chinese fishing vessels from operating illegally off the west coast. The move comes after South Korean fishermen, frustrated with incursions by Chinese fishing boats in defiance of coast guard warnings, used rope to impound two Chinese trawlers ...

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NIMASA DG congratulates Hajia Lami Tumaka on receipt of Evergreen Public Relations Personality award

  (TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has congratulated the Agency’s World-renowned First-rate and Head of Corporate Communications, Hajia Lami Tumaka, on her award as the “Evergreen Public Relations Personality” in the maritime industry by Transquest Media Group. The said award was given barely three months after Hajia Tumaka ...

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June 12 election: The Martyr of Democracy Chief M.K.O Abiola lives on!

(TRADE NEWSWIRE):Musical tribute to Chief M.K.O Abiola  by Evangelist Ebenezer Obey, a Juju music maestro – Audio M.K.O Abiola’s SDP 1993 Campaign jingle- Video M.K.O Abiola’s reparation efforts in Africa- Video Chief Moshood Kashimawo Olawale Abiola, CFR (24 August 1937 – 7 July 1998), often referred to as M. K. O. Abiola, was a popular Nigerian Yoruba businessman, publisher, politician and ...

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Govt agencies should ‘work together’ to unlock ‘synergistic benefits’ for maritime security- Peterside

  (TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has called on relevant government agencies especially ‘security–oriented ones’ to work together  to enable them unlock synergistic benefits of joint efforts for the security of the nation’s maritime sector, TRADE NEWSWIRE reports. The NIMASA DG made this call when the Comptroller, Lagos ...

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NIMASA DG joins world leaders to call for preservation of marine environment on World Oceans Day

  (TRADE NEWSWIRE): The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, has lent his voice along with other world leaders for the protection and preservation of marine environment in commemoration of the World Oceans Day, TRADE NEWSWIRE reports. The Secretary of State, the United States of America a, John Kerry, also said on ...

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Exploit inland waterways now for transportation of Lagosians to diffuse traffic on roads- Amaechi

  (TRADE NEWSWIRE): The Minister of Transportation, Rt. Hon. Rotimi Chibuike Amaechi, has advised the Lagos State Government to exploit the inland waterways as a mode of mass transporting Lagosians in order to diffuse the daily traffic pressure on roads owing to increased migration to the state, TRADE NEWSWIRE reports. According to a statement obtained by TRADE NEWSWIRE from a ...

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IMO team in Nigeria to audit maritime sector, as NIMASA backs mission

(TRADE NEWSWIRE): The International Maritime Organization Member State Audit Scheme (IMSAS) is in Nigeria to audit the nation’s maritime sector, just as the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, expressed the agency’s support for IMSAS’ mission, TRADE NEWIRE reports. The IMO audit team which comprised of Capt. Cahit Yakin, Hakon Stohaug and ...

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GCC investors freeze UK property deals on Brexit fears

  Gulf Arab investors, some of the biggest buyers of British real estate, are holding back from new deals because they fear a property price slump if Britain leaves the European Union, according to legal and investment sources. Sovereign and private investors from Qatar, Saudi Arabia, Kuwait and the UAE have been prolific buyers of British assets in the past ...

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New global standard to measure food waste

A new global standard for measuring food loss and waste will help countries and companies step up efforts to store, transport and consume food more efficiently, its backers said on Monday. Around one third of all food, by weight, is spoiled or thrown away worldwide as it moves from where it is produced to where it is eaten, costing globally ...

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Qatari construction company Aljaber plans $800m IPO

Qatari construction firm Aljaber Group is planning a stock market flotation in the Gulf Arab state, sources aware of the matter said, in a listing which could be worth around $800 million. Initial public offerings have been extremely rare in Qatar due to market volatility and the slow process of securing regulatory approval, with only one – Mesaieed Petrochemicals in ...

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Qatar fund buys Singapore office tower for $2.5bn

Qatar Investment Authority, a sovereign wealth fund, has agreed to buy Asia Square Tower 1, a 43-storey office building in Singapore, from Blackrock for a record S$3.4 billion ($2.5 billion) in what the US firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region. Asia Square Tower 1, located in the city-state’s financial district, has over 1.25 ...

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Saudi reform plan approved by top economic council

Saudi Arabia’s National Transformation Plan, a pivotal element of the “Vision 2030” reforms announced in April by Deputy Crown Prince Mohammed bin Salman, will be put before the cabinet for approval on Monday, a senior Saudi source told Reuters. The plan is expected to flesh out sector-by-sector details of the implementation of Prince Mohammed’s programme, which is intended to restructure ...

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