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Jaguar Land Rover opens factory in Brazil

Jaguar Land Rover (JLR) has opened its new £240 million ($310.7 million) manufacturing facility and Education Business Partnership Centre in the state of Rio de Janeiro, Brazil. The plant inauguration represents the first time a UK-based automotive group has opened a production centre in Latin America. The creation of new international factories allows JLR to offer its customers even more ...

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Salini Impregilo wins $3.9bn Tajikistan power project

Salini Impregilo, an Italian specialist in the construction and civil engineering business, has won a $3.9 billion contract from Tajikistan government to build a dam for the Rogun hydroelectric power plant. The group has also been assigned the first lot of the work worth $1.95 billion, said a statement from Salini Impregilo. The scope of work includes construction of a ...

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Oil market balancing says Saudi energy minister

  Saudi Arabia’s energy minister said on Sunday the oil market was becoming more balanced and prices were stabilizing. Khalid al-Falih said Saudi Arabia, the world’s biggest oil exporter, would always strive to stabilize the oil market, a statement by the energy ministry said on Sunday. “In doing so, the Kingdom secures the flow of oil supplies as it retains ...

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PortMiami Welcomes First Neopanamax Vessel

PortMiami officially welcomed its first Neopanamax container ship on Saturday, July 9 when the MOL Majesty arrived at the port after transiting the newly expanded Panama Canal. Owned by Mitsui O.S.K. Lines, the MOL Majesty measures 302 meters (990.81 feet) in length and 43.4 meters (142.39 feet) in beam. Miami has spent $1.3 billion in port improvements to accommodate bigger ...

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North Korea Threatens Physical Response

North Korea’s military said on Monday it will make a “physical response” to moves by the United States and South Korea to deploy the advanced THAAD missile defense system on the Korean peninsula. The United States and South Korea said on Friday that the Terminal High Altitude Area Defense (THAAD) anti-missile system will be used to counter North Korea’s growing ...

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EgyptAir: Search for Human Remains Extended

      The search for human remains from the May 19 EgyptAir MS804 plane crash has been extended to ensure that all possible remains are collected. In a statement on Saturday, the Egyptian committee running the search announced that the John Lethbridge, from Mauritius-based Deep Ocean Search, will now continue its mission until July 18. The Airbus A320 crashed whilst en ...

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Nigeria strengthens partnership with IMO on maritime development

    (TRADE NEWSWIRE): The Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, has expressed Nigeria’s continuous partnership with the International Maritime Organisation (IMO) for the sustainable development of the Nigerian maritime industry, TRADE NEWSWIRE reports. In a statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami Tumaka, Amaechi sought ...

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Boskalis to Cut Fleet and Lay Off 650 Employees

Dredging and marine construction firm Royal Boskalis Westminster announced on Friday that it will take 24 vessels out of its active fleet in the next two years, eliminating 650 positions worldwide – including 150 Dutch staff. Peter Berdowski, the group’s CEO, said that with low prices for energy and commodities, business has slowed, requiring Boskalis to reduce the scale of ...

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Fishermen Concerned by Marine Monument Proposals

As the Obama administration enters its final months, federal officials are considering the use of the Antiquities Act to designate one or more new areas as marine monuments – a streamlined process permitting the president to create a permanent, protected zone without the review procedures required for other legal designations. On the Atlantic seaboard, the Atlantic States Marine Fisheries Commission ...

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NATO to Increase Defense Sheild

  NATO leaders agreed on Friday to deploy military forces to the Baltic states and eastern Poland for the first time and to increase air and sea patrols to reassure allies who were once part of the Soviet bloc following Russia’s seizure of Crimea from Ukraine.The 28-nation Western defense alliance decided to move four battalions totaling 3,000 to 4,000 troops ...

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ClassNK Highlights Key Port State Control Issues

On Friday, ClassNK released its annual report on port state control (PSC) activity, part of what the society describes as an effort to “increase the transparency of information related to PSC issues and to make it even more difficult for substandard ships to survive in the market place.” The number of inspections is up, the class society says, in line ...

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Asian Tankers Rates to Fall Further

Freight rates for VLCCs are set to slide further next week as charterers complete the July loading program from the Middle East, and many ships chase too little cargo, ship brokers said. “Ship owners are trying to hold rates around 40 points on the Worldscale level, but they are struggling,” a European supertanker broker said on Friday. Rates from the ...

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USMMA Lifts Sea Year Stand Down for Federal Vessels

On Friday, the United States Merchant Marine Academy announced that it would partially lift last month’s suspension of its core Sea Year training program for undergraduate midshipmen, allowing those students assigned to federal assets – notably Military Sealift Command vessels – to sail out once again. Midshipmen who had been recalled from MSC vessels due to the “stand down” will be permitted to ...

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The exit of a patriot: NIMASA DG mourns former National Security Chief Alhaji Umaru Shinkafi

  (TRADE NEWSWIRE):  If wishes were horses, beggars would ride: Dr. Dakuku Peterside, who is the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) would have wished that the former boss of the National Security Organisation (NSO) Alhaji Umaru Ali Shinkafi, the Marafan Sokoto to spend more years on earth because of his value-laden knowledge on security matters ...

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U.S. Finalizes Arctic Drilling Rule

  The U.S. Department of Interior has unveiled its final regulations on drilling in the U.S. Arctic outer continental shelf. The rules set safety standards for exploratory drilling in Alaska’s Beaufort and Chukchi Seas. “The rules help ensure that any exploratory drilling operations in this highly challenging environment will be conducted in a safe and environmentally responsible manner, while protecting ...

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Investment banks tell UK’s Osborne they will help London after Brexit vote

LONDON: Major investment banks including Goldman Sachs and JPMorgan said they would work to help London remain a top center for international finance, in a joint statement on Thursday with British finance minister George Osborne. “Britain’s decision to leave the EU clearly presents economic challenges which we are determined to work together to meet,” the statement said. “Today we met ...

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JPMorgan could move thousands of staff out of UK: report

MILAN: JPMorgan Chase & Co could be forced to move thousands of staff out of Britain if the country loses its automatic right to sell financial services to the European Union after last month’s Brexit vote, bank CEO Jamie Dimon told an Italian newspaper. Currently, banks based in the UK can sell services freely across the EU under a “passporting” ...

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Why Islamic State is far from defeated

Deadly attacks in four countries linked to Islamic State show the limitations of US-led efforts to loosen the group’s grip in Syria and Iraq, and the challenge of stopping attacks that are not only globally dispersed but very different in their choice of targets, current and former US officials said. “Bombing the heck out of (Islamic State’s capital) Raqqa is ...

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Oil industry losing the burn of Asian demand

After half a year of strong oil price rises, Asian crude demand is slowing and by some measures falling, and many market participants suspect it is not just a cyclical phenomenon, but also a product of more permanent structural changes. With years of annual economic growth of 7-10 per cent in China and similar recent figures from India, Asia-Pacific has ...

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Emaar’s Dubai Opera on track for August launch

Construction work on Dubai Opera, the city’s first purpose built multi-format performing arts theatre, is set to be completed in August, developer Emaar properties said in a construction update. According to an update on its website, the project is “showing good progress” with the concrete and steel structure works completed. Ongoing works are vertical transportation, interior fit out, stage engineering, ...

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World food prices post biggest rise for four years

  World food prices posted their biggest monthly rise for four years in June, buoyed by a surge in sugar and increases for most other edible commodities, the United Nations food agency said on Thursday. Food prices have been gaining ground since hitting a near seven-year low in January after four straight annual declines, and the United Nations Food and ...

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Citigroup merges EMEA, Asia consumer banking businesses

Citigroup is merging its consumer banking unit in Europe, Middle East and Africa (EMEA) with Asia, the largest region for profit for the business outside North America, according to an internal memo seen by Reuters on Thursday. The move, which will see consumer banking revenues from five countries – Bahrain, Poland, Russia, the United Arab Emirates and the United Kingdom ...

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U.S. Ports Want More Action on Dirty Bomb Prevention

The threat of terrorist smuggling at U.S. ports appears to be increasing, says the American Association of Port Authorities (AAPA), who wants mechanisms to prevent cyber terrorism and illegal nuclear materials from being trafficked through ports intensified. Nuclear smuggling can involve small quantities of highly enriched uranium or plutonium that could be used to build an improvised nuclear device. Additionally, ...

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EU Moves Closer to Unified Coast Guard Agency

On Wednesday, the EU Parliament voted to approve a measure creating a unified European Border and Coast Guard Agency (EBCG), bringing the new organization one step closer to actualization. “I am very pleased about today’s vote by the Parliament. While the new regulation still has to be approved by the Council of the European Union, we have already started intensive ...

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Navy Official Allegedly Threatened Men With Gun

A senior U.S. Navy civilian official was briefly arrested following an altercation in which he allegedly pointed a handgun at a group of young men outside his home in a Washington, DC suburb. Karnig Ohannessian, the deputy secretary of the Navy for the environment, appears to have been captured on video pointing a handgun at the men and ordering them ...

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Five U.S. Ports Receive Government Grants

The U.S. Department of Transportation (DOT) has announced 18 proposed grant awards for projects under the Nationally Significant Freight and Highway Projects Program. Five port authorities are on the list of proposed grant awardees: 1. Georgia Ports Authority ($44 million) for the Port of Savannah International Multi-Modal Connector. The award is a significant portion of a total $128 million project ...

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Norwegian Offshore Union Reaches Wage Agreement

The Norwegian offshore well services union SAFE and the Norwegian Oil and Gas Association came to a mediated collective bargaining agreement on Wednesday, heading off a strike scheduled to begin at midnight. SAFE lead negotiator Roy Aleksandersen said that the union had held the line on wages against employer demands for shared sacrifice during the current downturn. “[We] have been ...

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Russia Reminds Belarus of its Economic Muscle

    When Russia annexed Ukraine’s Crimea region, Belarussian President Alexander Lukashenko began trying to loosen his close ties with Moscow, fearing his country would be the next target. Two years on, an abrupt drop in Russian oil supplies to the small ex-Soviet state may force Lukashenko into rethinking a policy that includes patching up relations with the West. The ...

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U.S. Destroyers Sailing Near Disputed Islands

U.S. destroyers have sailed close to Chinese reefs and islands in the disputed South China Sea in recent weeks, U.S. naval officials said on Thursday, patrols likely to fuel tensions ahead of landmark ruling over Beijing’s maritime claims. The destroyers Stethem, Spruance and Momsen have been patrolling near Chinese features in the Spratlys archipelago and the Scarborough Shoal, which is ...

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E.U. Call for Ship Recycling License

  Ships regardless of their flag should not be allowed to call at any E.U. port without a ship recycling license to incentivize sustainable ship recycling, a European Commission report recommends. The report written by Ecorys, DNV-GL and the Erasmus University School of Law, looks into the possibility of introducing a financial incentive to enhance safe and environmentally sound ship ...

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Shipping process is not complete without Freight forwarding profession- NIMASA DG

(TRADE NEWSWIRE): The Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that shipping process is incomplete without freight forwarding profession, TRADE NEWSWIRE reports. A statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami Tumaka, stated that the DG said this when the executive members of ...

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Beware of fraudsters: NIMASA has not started any scholarship, recruitment programme- DG

.Security agencies kick-starts investigation to crackdown on culprit (TRADE NEWSWIRE): The Nigerian Maritime Administration and Safety Agency (NIMASA) has not in anyway at the moment either directly or by proxy running any scholarship or recruitment  programme as fraudulently touted by an online media not TRADE NEWSWIRE, TRADE NEWSWIRE reports. The Director-General, NIMASA, Dr. Dakuku Peterside, said the fraudulent advertisement tagged ...

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Credit Suisse CEO blames Brexit on low UK education spending

AIX-EN-PROVENCE, France: Britain is paying the price for a high level of inequality and a chronic lack of investment in education which have prompted a disillusioned population to vote to leave the European Union, Credit Suisse Chief Executive Tidjane Thiam said on Sunday. Britain voted in a referendum on June 23 to quit the EU, a decision that has roiled ...

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Bank of Israel buying ‘hundreds of millions’ of dollars: Sources

JERUSALEM: The Bank of Israel bought “hundreds of millions” of dollars of foreign currency on Monday (Jul 4), dealers said, after the shekel continued to strengthen for a fifth straight session. One dealer at an Israeli bank said the central bank started buying at a dollar-shekel rate of around 3.84. The exchange rate, which quickly moved to 3.85, had weakened ...

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Tax haven route won’t work for post-Brexit UK, OECD says

LONDON: The United Kingdom is unlikely to try to lure international investment by becoming a tax haven after it leaves the European Union, according to an internal memo prepared by the body responsible for the drafting international tax rules. The head of tax at the Organization for Economic Co-operation and Development, which advises developed nations on policy, said the UK ...

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Facebook defends position on content standards after Israeli censure

JERUSALEM: Facebook is doing its share to remove abusive content from the social network, it said on Sunday in an apparent rejection of Israeli allegations that it was uncooperative in stemming messages that might spur Palestinian violence. Beset by a 10-month-old surge in Palestinian street attacks, Israel says that Facebook has been used to perpetuate such bloodshed and Prime Minister ...

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China says to crackdown on fake news from social media

BEIJING: China’s internet regulator will launch a crackdown on the reporting of news gathered from social media, as part of what the government calls a campaign against fake news and the spreading of rumours. In a statement late on Sunday, the Cyberspace Administration of China said that online media cannot report any news taken from social media sites without approval. ...

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Daimler buys car leasing firm Athlon for $1.2bn

Daimler, the German maker of Mercedes cars, has struck a deal to buy Rabobank’s Athlon car leasing arm for 1.1 billion euros ($1.2 billion) to more than triple the size of its fleet management business. Automakers are branching out of their core manufacturing operations into a variety of related services in a bid to tap growing demand for cheaper and ...

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Abu Dhabi residental market remains stable

The residential segment of Abu Dhabi remained relatively stable in terms of demand and supply during the first quarter of 2016, according to a report. Due to a limited new supply that entered the market during the period (only 1,000 units), sale and rental prices on residential apartments and villas in the capital either remained stable or showed marginal decreases ...

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Floating piers

A general view shows people walking the ‘The Floating Piers’ by Bulgarian artists Christo and Jeanne-Claude on Lake Iseo during the last day of the artwork near Sulzano, northern Italy, 03 July 2016. The ‘Floating Piers’ with their bright orange connecting the two towns Sulzano and Monte Isola closes today to the public.  EPA/Filippo Venezia

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Adaptive trust – A new defence for enterprise mobility

  An HR director, a salesperson visiting with your engineering team and a network administrator walk into office at 9am. Each is carrying a coffee in one hand, a smart phone in their pocket and a laptop over the shoulder. Within minutes of entering the building, they all log in to the Wi-Fi network and blend into the mobile workforce. ...

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Global oil market heading towards balance, says Saudi

The energy minister of Saudi Arabia, the world’s largest oil exporter, and the secretary general of Opec agree that the global oil market is heading toward a balance and that prices are starting to settle, according to comments carried by Saudi state news agency SPA. The statement said Khalid al-Falih and the Organization of the Petroleum Exporting Countries’ newly appointed ...

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UAE group Al Jaber to raise $1.6bn from asset sale

Al Jaber Group, a family owned business in Abu Dhabi, UAE, has almost doubled the amount of cash it intends to raise from asset sales including real estate and shares under a new debt repayment plan it offered to creditors, two people with knowledge of the matter said. The group, with interests spanning construction, engineering and shipping, plans to raise ...

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Biometrics to play bigger role in mobile data safety

Biometrics are set to drive a significant improvement in protecting mobile phone users from a serious breach of their private data, according to axiom telecom, a leading mobile technology retailer in the region. The recent International Trends in Cybersecurity Report by CompTIA found that almost 50 per cent of UAE businesses had experienced at least one IT security breach in ...

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Major Blow to Vietnam’s Fight Against Wildlife Crime

    In a serious set-back to Vietnam’s efforts to crack down on wildlife crime, the authorities have postponed the enactment of a new penal code that was due to come into force on July 1. The new code imposes stricter penalties for people found guilty of illegally killing wildlife as well as illicitly trafficking wildlife or wildlife products. In ...

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Fukushima Radiation Levels Decreasing Rapidly

An international review of the state of the oceans five years after the Fukushima disaster shows that radiation levels are decreasing rapidly except in the harbor area close to the nuclear plant itself where ongoing releases remain a concern. The Tohoku earthquake and tsunami on March 11, 2011, led to the loss of power and overheating at the Fukushima Daiichi ...

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China to Hold Drills Ahead of Court Ruling

China will hold military drills around the disputed Paracel Islands in the South China Sea, the maritime safety administration said on Sunday, ahead of a decision by an international court in a dispute between China and the Philippines. China routinely carries out exercises in the South China Sea, where its territorial claims overlap in parts with Vietnam, the Philippines, Malaysia, ...

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BP to Expand LNG Facility in Papua

BP has announced Final Investment Decision for the development of the Tangguh Expansion Project in Indonesia. The Tangguh Expansion Project will add a third LNG process train (Train 3) and 3.8 million tons per annum (mtpa) of production capacity to the existing facility, bringing total plant capacity to 11.4 mtpa. The project also includes two offshore platforms, 13 new production ...

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Cunard Releases Historic Queen Mary Picture

  Cunard is celebrating the 80th anniversary of RMS Queen Mary’s first voyage by publishing a previously unreleased picture of celebrated British championship tennis player Fred Perry on board the company’s flagship liner in 1936.This historic picture was taken on board Queen Mary in 1936, the same year Fred Perry won his third men’s singles title at Wimbledon and the ...

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Prospects for a 26,000 TEU Container Ship

  Recent discussions in the maritime sector suggest the possibility of constructing container ships of 26,000 TEU. While the economics of ship transportation improves by increasing carrying capacity relative to operating costs, ship size eventually reaches the size of diminishing returns and especially when sailing between two main ports. Such supersize ships would be too big to sail through the ...

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China Offers Philippines Talks Out of Court

China is ready to start negotiations with the Philippines on South China Sea-related issues if Manila ignores an arbitration ruling expected next week on their long-running territorial dispute, the official China Daily reported on Monday. The Philippines brought the case to the Permanent Court of Arbitration in the Hague and a ruling is expected on July 12. The case contests ...

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Human Remains Recovered from EgyptAir Site

A search vessel contracted by the Egyptian government has recovered all previously mapped human remains under water at the crash site of EgyptAir flight MS804, Egypt’s aircraft accident investigation committee said on Sunday. The John Lethbridge, belonging to Mauritius-based Deep Ocean Search, headed to Alexandria port to hand over the remains to coroners and prosecution officials, the committee said in ...

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Egypt pays back $1bn debt owed to Qatar

Egypt has returned to Qatar $1 billion deposited by the Gulf state to help prop up the Egyptian central bank’s hard currency reserves after the 2011 uprising, the central bank governor said on Friday. Cairo’s relations with Qatar deteriorated after. Qatar had been a firm backer of Mursi’s Muslim Brotherhood and lent or gave Egypt $7.5 billion during the year ...

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Morocco to launch Islamic banking operations in 2017

  Morocco’s central bank said it would start issuing approvals for Islamic banks this year, with the aim of allowing them to begin business in early 2017. Islamic banks and insurers are setting up in Morocco after it adopted legislation allowing them into the domestic market, and the central bank has set up a central sharia board with the country’s ...

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Marketing: Nigeria remains African hub for maritime trade- Peterside

  (TRADE NEWSWIRE): As part of efforts to market and attract maritime investments into the country, the Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has described the country as the African hub for maritime trade, TRADE NEWSWIRWE reports. In a statement obtained by TRADE NEWSWIRE from a World-renowned First rate Public Relations Professional and Head of ...

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Opec output hits record high on Nigerian rebound

Opec’s oil output has risen in June to its highest in recent history, a Reuters survey found on Thursday, as Nigeria’s oil industry partially recovers from militant attacks and Iran and Gulf members boost supplies. Higher supply from major Middle East producers except Iraq underlines their focus on market share. Talks in April between producers on freezing output failed and ...

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General Dynamics NASSCO Wins Oiler Contract

General Dynamics NASSCO has been awarded a contract by the U.S. Navy for the detailed design and construction of the next generation of fleet oilers, the John Lewis class (TAO-205), previously known as the TAO(X). The contract is for the construction of six ships is worth around $3 billion. Designed to transfer fuel to U.S. Navy surface ships operating at ...

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Black Elk Victims’ Families Reach Settlement

A trial combining 10 lawsuits arising from the 2012 Black Elk explosion in the Gulf of Mexico has reached a settlement. The incident occurred during welding operations on the West Delta 32 oil production platform operated by Black Elk Energy Offshore Operations offshore from Louisiana. Three people were killed and several others were injured. Hydrocarbon vapors ignited while a worker ...

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As VGM Takes Effect, U.S. Terminals Offer Weights

The new SOLAS Verified Gross Mass container weighing regulation will go into effect on Friday – and in the United States, it appears the rollout may well occur without the disruption and delay that many had feared. The overwhelming majority of the nation’s largest container ports and terminal operators have agreed to provide truck scale weights for VGM use, allowing ...

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Thailand Upgraded in Trafficking In Persons Report

  The U.S. State Department has removed Thailand from the lowest ranking in its annual Trafficking in Persons (TIP) Report, released this week, causing some NGOs to voice their disappointment.Thailand had been designated as Tier 3 on the annual report for its failure to take adequate measures to combat human trafficking. It was upgraded one ranking to the Tier 2 Watch ...

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Greece Approves COSCO Piraeus Sale

Greek lawmakers on Thursday ratified the sale of a majority stake of Piraeus Port to China COSCO Shipping, a major privatization project of the bailed-out nation under a left wing government. Under the 368.5 million euro ($410 million) deal, COSCO will buy 51 percent of Piraeus for 280.5 million euros ($312 million) and the remaining 16 percent for 88 million ...

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Formosa Admits Steel Mill Spill Caused Fish Deaths

One of the biggest environmental disasters to hit Vietnam was caused by a unit of a Taiwanese conglomerate leaking toxic waste into the sea, the Hanoi government said on Thursday, ending months of mystery and rare public outrage. Formosa Ha Tinh Steel, a subsidiary of Formosa Plastics, has promised $500 million in damages and admitted that its $10.6 billion steel ...

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China Responds to Sea Shepherd on Driftnet Case

The Chinese Ministry of Agriculture has written to the environmental organization Sea Shepherd describing the fate of six illegal driftnet fishing vessels apprehended earlier this year. Operation Driftnet, a campaign launched by Sea Shepherd Global to expose, confront and shut down illegal fishing operations launched in February 2016, involved the location and pursuit of the Chinese Fu Yuan Yu fleet ...

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Iran Claws Back Market Share

A VLCC laden with Iranian crude is heading towards Poland’s Baltic Sea port of Gdansk, trade sources said and ship-tracking data showed, as Iran continues to claw back market share after the lifting of Western sanctions. It was not immediately clear whether the buyer was Polish refiners PKN Orlen or Grupa Lotos, or whether the oil would remain in Poland ...

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Peterside solicits U.S.A to enlist NSDP cadets in Marine Navy, seeks knowledge, technology transfer

  (TRADE NEWSWIRE): The Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has made a case for cadets of the Nigeria Seafarers Development Programme (NSDP) to be trained by and recruited into the USA marine Navy in order to enhance their skills and competency professionally, TRADE NEWSWIRE reports. Peterside, who equally sought for the United States ...

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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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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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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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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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