zoom Bermuda-based shipping company Teekay Corporation has appointed Kenneth Hvid as its new Chief Executive Officer, as the company’s current President and CEO, Peter Evensen, plans to retire on January 31, 2017.Having worked for Teekay for more than 13 years, Evensen will also retire from his positions as CEO and CFO of Teekay LNG Partners and Teekay Offshore Partners and his board positions at Teekay, Teekay LNG, Teekay Offshore, and Teekay Tankers.As part of the transition process, Teekay said that Evensen will be retained as an advisor following his retirement as President and CEO.Kenneth Hvid, who is currently serving as the President and CEO of Teekay Offshore Group, “is the natural successor to Peter Evensen as CEO of Teekay at this time,” Sean Day, Teekay’s Chairman, said.“He has had multiple roles in his 16 years at Teekay, including leadership positions in offshore, LNG, tankers, strategy, and operations, as well as having worked extensively in Vancouver and Norway,” Day added.Consequently, Ingvild Sæther will be appointed President and CEO of Teekay Offshore Group, while Mark Kremin will be appointed President and CEO of Teekay Gas Group.The combined Teekay entities currently manage and operate consolidated assets of approximately USD 13 billion, comprised of some 220 liquefied gas, offshore, and conventional tanker assets, and have forward fee-based contracted revenue totaling over USD 20 billion.
zoom The U.S. National Transportation Safety Board (NTSB) plans to open the docket for its investigation into the sinking of the U.S. flagged cargo ship El Faro on December 13, 2016.The El Faro sank during Hurricane Joaquin in October 2015, and all 33 crewmembers aboard perished in the accident.The ship’s voyage data recorder was recovered from the ocean floor at a depth of about 15,000 feet, in August 2016.A voyage data recorder group was convened the same month to audition the ship’s VDR and to develop a detailed transcript of the sounds and discernible words captured on the El Faro’s bridge audio.According to NTSB, the docket will contain only factual information about weather, engineering, survival factors, and data from the El Faro’s voyage data recorder. The docket will also contain the detailed transcript from the voyage data recorder’s audio recording.The NTSB plans to conduct a media briefing about the contents of the docket in the NTSB Board Room and Conference Center on December 13.The public docket contains only factual information collected by NTSB investigators. The public docket does not provide analysis, findings, recommendations or probable cause determinations, and as such, no conclusions about how or why an accident occurred should be drawn from the docket, NTSB said.Providing the docket affords the public the opportunity to see what information has been gathered about the accident. Any analysis, findings, recommendations, or probable cause determinations related to the accident will be issued by the NTSB at a later date.
zoom Canadian ferry operator BC Ferries’ vessel Queen of Burnaby will enter a dry docking on February 8 as it experienced mechanical issues, according to the company.The ferry operator informed that the ship will be temporarily removed from service on the Comox – Powell River route to repair a propeller hub.The 51-year-old ship is expected to return to service within one week.The MV Island Sky, which usually sails between Earls Cove and Saltery Bay, will be redeployed to the Comox – Powell River route to replace the Queen of Burnaby on the evening of February 7, and the regular schedule will remain in effect on this route during the period.The Bowen Queen will assume service on the Earls Cove – Saltery Bay route on February 8 as well.Queen of Burnaby is scheduled to be replaced by the company’s new liquefied natural gas (LNG)-powered Salish Class newbuilding Salish Orca in the spring of 2017.
zoom Dubai-based port and terminal operator DP World would invest up to USD 3 billion over the next three years in an effort to add new capacity and assets.According to local media reports, the company’s Chairman and CEO, Sultan Ahmed Bin Sulayem informed that the port operator plans to spend around USD 1 billion in capital expenditure each year until 2020.He added that the budget is flexible as it depends on the business opportunities that arise during the period.Final capex for FY2017 and capex expectations for 2018 are set to be revealed on March 15. The company’s spokesperson told World Maritime News that so far DP World has guided for USD 950 million from 2018-2020.DP World would reportedly look for expansion opportunities in Saudi Arabia, in an effort to operate more ports in the region’s biggest economy. The company would also invest in Jeddah Islamic Port to expand the port’s capacity.Furthermore, the CEO said that the company would seek expansion opportunities in the UAE and other regions.On January 8, DP World marked its 10-year public listing on Nasdaq Dubai. The company said that the listing has been instrumental to its growth history.“It has given us access to the top global and regional institutional investor base and the retail community. We have grown from 42 terminals in 22 countries before the listing to almost double with 78 terminals in 40 countries within a decade, while profits have risen from USD 440 million to over USD 1 billion during this period,” Bin Sulayem, said.The company ended the year as the largest listed company in Dubai with a market capitalisation of USD 21 billion. The DP World share price reached USD 25 at the end of 2017, a 10-year high having risen 43% in the year on the back of strong container volume growth.World Maritime News Staff
Teekay Offshore Partners has signed a conditional seven-year charter contract for the floating production, storage and offloading (FPSO) unit, Petrojarl Varg.Under the deal, agreed with Alpha Petroleum Resources Limited (Alpha) in October 2018, the FPSO would be deployed in the Cheviot oil field in the UK sector of the North Sea.The contract is for a seven-year fixed term from first oil, which is targeted for the second quarter of 2021, after completion of a life extension and upgrade phase for the Petrojarl Varg FPSO taking place at Sembcorp Marine’s shipyard in Singapore.Teekay Offshore Partners said that the life extension and upgrade costs for the Petrojarl Varg FPSO would be funded predominantly by Alpha in advance. The Petrojarl Varg FPSO is intended to be used for the entire expected life of the Cheviot field.The company revealed the contract in its financial report for the quarter ended September 30, 2018. For the three-month period, Teekay Offshore Partners managed to narrow its net loss to USD 38.6 million, compared to a net loss of USD 317.5 million seen in the same period in 2017.The change was attributed to vessel write-downs during the third quarter of 2017, partially offset by losses on repurchases of bonds maturing in 2019 and a promissory note maturing in 2022 incurred in the third quarter of 2018.The company’s revenues climbed to USD 327.7 million for the third quarter of 2018 from USD 273.6 million reported in the corresponding period of 2017.“For the third quarter of 2018, our total cash flow from vessel operations increased significantly from the same quarter of the prior year primarily driven by stronger earnings from our shuttle tanker fleet, a full quarter contribution from the contract start-up of the Petrojarl I FPSO and our third East Coast Canada shuttle tanker newbuilding and lower operating costs in our shuttle and FPSO fleets,” Ingvild Sæther, President and CEO of Teekay Offshore Group, said.
zoomIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license Norwegian transportation company Fjord1 has secured a new loan agreement with compatriot shipping bank DNB and Finnish Nordea Bank.The facility, which was agreed in October 2018, is for NOK 1,283 million (USD 150.6 million) with a guarantee from Norwegian Guarantee Institute for Export Credits GIEK for NOK 900 million (USD 105.7 million).Additionally, the company was awarded a new ferry connection contract in Indre Sunnmøre, Norway. The agreement, expected to be signed in November, is for a duration of 14 years, starting from 2020 until the end of 2033.Under the agreement, the company would utilize ten of its vessels to operate on the Eidsdal-Linge, Stranda-Liabygda, Hundeidvik-Festøy and Sæbø-Leknes-Standal-Trandal routes. The deal has a total value of NOK 2 billion (USD 234.5 million).The contract comes a month after Fjord1 signed a deal to operate four ferry connections in Romsdal, namely Sølsnes-Åfarnes, Molde-Sekken, Solholmen-Mordalsvågen and Aukra-Hollingsholm. The earlier signed agreement, which has a value of NOK 2.26 billion (USD 265 million), would see Fjord1 deploy five vessels on the aforementioned routes.The Romsdal contract is also for a period of 14 years, scheduled to start from 2020, with the contract for the Sølsnes-Åfarnes service expected to take affect from 2022.
zoomImage Courtesy: Pixabay (Pixabay License) Marine services company Smit Lamnalco and port operations provider Engage Marine have invested in the Australian harbour towage joint venture, Engage Towage.The scope of the joint venture is specific to providing increased choice in the Australian harbour towage market, and therefore the existing businesses of Smit Lamnalco and Engage Marine, including Westug, would continue to operate independently from the newly formed JV.Engage Towage currently operates in the Port Jackson and the Port of Geelong utilising five azimuth-drive tugs.“We believe the Australian towage industry is significant enough for multiple towage companies to co-exist, and ultimately, competition encourages all operators to continuously improve on their service delivery,” Stanley Maas, Smit Lamnalco Chief Executive Officer, said.“We see this JV as being beneficial to clients and industry, as well as part of our own strategic growth ambition.”
zoomImage Courtesy: DSME South Korea’s Daewoo Shipbuilding & Marine Engineering has received an order for a 174,000 cubic meter LNG carrier, the shipbuilder confirmed on May 14.Under the contract, received from an undisclosed Oceania shipowner, the vessel would be constructed at DSME’s Geoje Okpo shipyard.The shipyard is scheduled to deliver the LNG carrier, which is DSME’s fifth gas order this year, in the second half of 2021.So far in 2019, the Korean shipbuilding major secured an orderbook of 14 units with a value of USD 2.5 billion, representing 30% of its order target for this year.Apart from the five LNG carriers, the currents orderbook includes six crude oil carriers and three submarines.World Maritime News Staff
Nova Scotia’s 10,000 public school and community college teachers are providing high-quality education to the province’s students. World Teachers’ Day, today, Oct. 5, is an opportunity for all Nova Scotians to say thank you, says acting Education Minister Angus MacIsaac. “The commitment and dedication of Nova Scotia’s teachers should be applauded,” said Mr. MacIsaac. “Teachers are entrusted to guide our children’s futures, and they deserve our support. “Quality education depends on quality teaching and Nova Scotia is fortunate to have so many skilled professionals in its schools,” he said. “We owe them our thanks everyday of the year, not just on Oct. 5.” World Teachers’ Day is celebrated annually to highlight the important role of teachers. The theme for 2005 is “Professional development to meet the needs of a changing world.”
About 5,700 provincial government employees will have a new contract that provides wage increases and other benefits over three years. The Public Service Commission today, April 5, received an arbitration board’s decision affecting members of the Nova Scotia Government and General Employees Union (NSGEU). The previous contract between the province and the union expired March 31, 2004. “Now that we have accepted the decision the next step will be to implement the terms included in it,” said Ron Russell, minister responsible for the Public Service Commission. “I think there are a number of positive aspects in the contract for employees. We are glad this issue has been resolved for the benefit of those directly involved and all Nova Scotians.” Highlights of the decision are: Negotiations between the province and civil servants who are members of the NSGEU are conducted under the framework of the Civil Service Collective Bargaining Act. In circumstances where government and the NSGEU cannot agree on a collective agreement, the act provides that the dispute is resolved through interest arbitration. a three-year contract ending March 31, 2007; annual wage increases of 2.9 per cent in each of the three years and an additional two per cent wage increase on the base rate in the first year; an annual mileage adjustment based on the Nova Scotia Private Transportation Index, which calculates the cost of running a vehicle; and an increase in the meal allowance.
The province of Nova Scotia is helping a Bridgewater-based manufacturer become more globally competitive. More than 95 per cent of ECI Medical Technologies’ annual sales are exports. A short-term loan of $250,000, provided through the Industrial Expansion Fund, will help the company further realize its export growth potential. “This investment will help ECI meet export demand,” said Richard Hulburt, Minister of Economic Development. “The company uses unique technology and continues to develop new products.” ECI houses a state-of-the-art facility, which manufactures synthetic surgical gloves. This product has a unique market; primarily health-care workers who have allergies to natural rubber latex. ECI has a workforce of 50 with an associated annual payroll of over $1.4 million. The worldwide market for synthetic surgical gloves is estimated at $90 million, with the majority of business taking place in the US and the European Union Countries. ECI is currently in discussions with a potential partner to expand its manufacturing base. “We appreciate the confidence and ongoing support of the province in assisting ECI with achieving our goals,” said Keith Boulter, president and CEO of ECI. The Industrial Expansion Fund offers a variety of financial assistance to help the province’s economy. Over the past two years, it has helped create or maintain more than 3,000 jobs in the province, and has a return on investment of three dollars for every dollar spent.
To register, call (902) 424-3107 or e-mail email@example.com . For more than 45 years, the Canadian Wildlife Federation has partnered with federal, provincial and territorial wildlife and related agencies, to develop and implement the National Wildlife Week program in Canada. This year’s national non-profit partner, Evergreen, is an environmental organization that makes cities more livable by deepening the connection between people and nature, and empowering Canadians to take a hands-on approach to their urban environments. For more information on National Wildlife Week, visit www.nationalwildlifeweek.ca . Nova Scotians can celebrate National Wildlife Week from April 5 to 11, with workshops by the Department of Natural Resources and national non-profit environmental organization Evergreen. National Wildlife Week raises awareness about the importance of wildlife and wildlife habitat in Nova Scotia and throughout Canada. This year’s theme, Our Home and Native Plants, focuses on how important native plants are to our ecosystems and the habitat of wild creatures. “This is a great opportunity for us to raise awareness about the importance of wildlife habitat in Nova Scotia and throughout Canada,” said Natural Resources Minister Carolyn Bolivar-Getson. “The goals of the week fall in line with many wildlife protection initiatives the department takes on year-round.” Native plant species are part of the original flora of an area. According to a 2005 status assessment of Nova Scotia’s wild plants, there are 987 native species in the province. In recognition, the Department of Natural Resources and Evergreen will deliver three free workshops to encourage using native plants for school ground greening projects. The workshops will be held from 3:30 p.m to 5 p.m. on the following dates: Wednesday, April 8: Berwick, Annapolis Valley Regional School Board office, 121 Orchard St. Thursday, April 16: Sydney, Shipyard Elementary School, 30 Mount Kemmel St. Thursday, April 23: Halifax Teachers Resource Centre, 2326 Brunswick St., Room 142, 2nd Floor
Appointments to the board of trustees at the Public Archives of Nova Scotia will be in line with the practice in other provinces with legislative amendments introduced today, April 12. “The Public Archives of Nova Scotia plays an important role in preserving our province’s documentary heritage,” said David Wilson, Minister of Comminutes, Culture and Heritage. “The changes to the act bring Nova Scotia in line with best practices in the rest of the country and ensures the public will continue to enjoy a high level of service from the archives.” The proposed changes to the Public Archives Act mean the Chief Justice of Nova Scotia will no longer have to serve as chair and a member of the board of trustees. Nova Scotia was the only province with this requirement. The chair will now be appointed by cabinet from among the members of the board. The amendments also mean the position of provincial archivist will now be considered a civil servant, eliminating the need for an order in council appointment. The amendment brings the practice of recruiting the position into compliance with the Civil Service Act. Other administrative changes to the act reflect the realignment of government departments announced in January by correcting references to officials and the name of the department responsible for the archives.
Premier Darrell Dexter today, June 20, took another step to support workers, families and small businesses owners on the South Shore by forming a provincial response team. The province’s Bowater Response Team will bring together expertise and resources from across government for a comprehensive, co-ordinated approach to get supports and services for the people and families who need them. “This is a top priority for government and we are committed to do what it takes to see this community and industry through a very tough time,” said Premier Dexter. “We are mobilizing to meet immediate needs and plan for long-term opportunities that will create good jobs and a stable economy.” Jeff Larsen, Department of Economic and Rural Development and Tourism executive director of investment and trade, and Allan Eddy, Department of Natural Resources senior director, will lead the response team. It will also include resources from the departments of Labour and Advanced Education, Natural Resources, Community Services, Energy and Nova Scotia Business Inc. The team will support transition advisor Ron Smith, who was appointed earlier this week to help communities impacted by the Bowater mill closing, map their future. The provincial team will take options and ideas submitted by Mr. Smith’s transition committee and determine what the province can do to implement them. The province’s response team is also identifying all provincial supports, programs and services that can help impacted families and make them available. “The people of the South Shore deserve the best opportunities for long-term prosperity and we are doing everything we can to meet their immediate needs while also helping plan for a better tomorrow,” said Premier Dexter. The response team will focus on three key areas: The team will also meet with the forestry sector to discuss immediate needs. The province is also gathering information on the 500,000 acres of land for sale by Resolute. “The premier clearly understands the need to create momentum across provincial and municipal governments, and the regional development authority so that we identify and capitalize on new opportunities and turn the closure of this mill from the tragedy it is today, to a promising future,” said Queens County Mayor John Leefe. A team of career counsellors and job training specialists are also in the area to support affected workers. Community Adjustment: Help community, workers and businesses through transition. Increase and diversify the local skills base. Economic Diversification: Identify growth opportunities in key sectors. Implement strategies to attract investment and create jobs. Support entrepreneurship. Forestry Transition and Supply Chain: Pursue opportunities to support the forestry sector. Transition regional forestry sector and supply chain. Identify short, medium and long term opportunities for forestry innovation.
Pendant la Semaine nationale de prévention de la noyade, qui se déroule du 19 au 25 juillet, on rappelle aux Néo-Écossais que le fait d’apprendre à nager est une bonne façon d’améliorer la sécurité dans l’eau. « Des compétences de base en natation permettent de pratiquer une activité physique amusante et saine, et aussi de survivre lorsque les choses tournent mal dans l’eau, affirme Leo Glavine, ministre de la Santé et du Mieux-être. C’est pourquoi les élèves de la 3e année de la province ont l’occasion d’acquérir des compétences de base en natation dans le cadre du programme Swim to Survive. » Le programme Swim to Survive est financé par le plan Thrive! pour une Nouvelle-Écosse en meilleure santé. Il est offert par la division de la Nouvelle-Écosse de la Société de sauvetage. « Le fait d’enseigner la natation à nos enfants et de superviser leurs activités permet d’améliorer leur sécurité à la plage ou près d’un cours d’eau, souligne Paul d’Eon, directeur des projets spéciaux de la Société de sauvetage. Nous encourageons aussi les Néo-Écossais à nager dans un secteur qui est surveillé par un sauveteur dans la mesure du possible afin de prévenir une tragédie. » Les statistiques de la Société de sauvetage démontrent que 308 Canadiens se sont noyés en 2014, y compris 12 Néo-Écossais. La Société organise la Semaine nationale de prévention de la noyade en Nouvelle-Écosse. Pour plus d’information sur la sécurité nautique, consultez le www.lifesavingsociety.ns.ca (en anglais seulement).
Government is proposing legislation to update the Gaming Control Act today, Oct. 20, and ensure timely responses to gaming licence applications. The act says the Nova Scotia Gaming Commission issues gaming licences but the commission no longer exists. Gaming licences are now issued by the executive director of the Alcohol, Gaming, Fuel and Tobacco division at Service Nova Scotia. This legislation will formalize this authority. Service Nova Scotia issues about 7,500 gaming licences each year. “Our priority is to process our clients’ applications in a timely and efficient manner,” said Mark Furey, Minister of Service Nova Scotia. “To help us succeed, the authority to issue licences must be at the operational, and not the ministerial, level.” This change supports government’s commitment to modernizing legislation.
Mumbai: The BSE Sensex surged over 1,000 points Thursday to touch the 40,000-mark for the first time ever following the BJP’s thumping electoral show, but could not sustain the euphoria as investors chose to cash in on the gains. In similar movement, the broader NSE Nifty crossed the historic 12,000-level after early trends gave the BJP a comfortable majority in the Lok Sabha, but succumbed to profit booking towards the fag-end of the session. The 30-share Sensex tumbled 298.82 points, or 0.76 per cent, to close at 38,811.39, while the Nifty settled 80.85 points, or 0.69 per cent, lower at 11,657.05. Interestingly, when the Narendra Modi government came to power on May 16, 2014, the Sensex had rallied 261.14 points, or 0.90 per cent, to 24,121.74; and the Nifty jumped 79.85 points, or 1.12 per cent, to 7,203. According to experts, the markets had already priced in the election outcome and the focus would now shift to reforms, economic growth, monsoon and developments surrounding the bruising US-China trade conflict. Also Read – SC declines Oil Min request to stay sharing of documents”The re-election of NDA alliance has put to an end to the uncertainty and raised hopes of momentum gaining in the Indian economy and markets, which logically attained new heights today. “The results have raised hopes of the issues being faced by the economy being tackled in a firm and prudent way. This is the first time in world history that a government that has introduced GST in a country has been voted back to power,” said Dhiraj Relli, MD and CEO, HDFC Securities. IndusInd Bank was the biggest gainer in the Sensex pack, rallying 5.23 per cent, followed by Hero MotoCorp, Coal India, Yes Bank, PowerGrid, ICICI Bank, HCL Tech, L&T, Kotak Bank and Bharti Airtel, rising up to 1.56 per cent.
NEW DELHI: The Delhi Fire service is planning to conduct an audit of all coaching institutes running in the national Capital from Monday to avert Surat-like fire tragedy in which at least 22 students died, officials said. However, small coaching institutes, which are functioning in buildings below 15 metres, do not come directly under the fire department’s jurisdiction, a senior official.”Small coaching institutes do not come directly under our jurisdiction, but still we will start from Monday inspections of coaching institutes which are functioning in buildings above 15 metres and facts will be checked whether they have applied for license and if not, notice will be issued against them,” Delhi chief Fire officer Atul Garg said. Also Read – Cylinder blast kills mother and daughter in Karawal NagarThe process has been initiated and the department will issue a public notice soon and buildings which are found to be violating norms will be checked, a senior fire officer said. It will take some time, but the department will not spare those who are found to be flouting the norms and appropriate action will be taken against them, the officer said. “The fire department called a meeting on Saturday of all the senior officers to discuss the issue and the department is searching how to deal with small coaching institutes, and if required, we will approach the government as well.The Delhi Fire Department is prepared for any tragedy like Surat. As far as preparedness is concerned, the department is ready to tackle any tragedy and Delhi is much safer,” Garg said. Also Read – Two persons arrested for killing manager of Muthoot Finance”On Thursday, the department rescued 30 people safely after a major fire broke out on the fifth floor of a building in Nehru Place here. No casualties were reported in the incident, he said. A senior SDMC official, when contacted, said, “Municipal authorities are not authorised to issue fire licence for any building. Whether a building is large or small, we just clear building plans. The process to apply for plan clearance is online and applicants have to submit fire safety NOC within a stipulated time, otherwise the application is deemed incomplete and hence rejected,” he said. Earlier on Friday, a massive fire engulfed a four-storey commercial complex in Gujarat’s Surat, killing at least 22 teenage students at a coaching centre, many of whom jumped and fell to their deaths while some were suffocated, officials said.
New Delhi: A replica of the Rafale fighter aircraft has been put up outside the official residence of Air Chief Marshal B.S. Dhanoa, which is attracting huge attention. The replica has come up right across from the Congress headquarters at 24, Akbar Road. The Rafale replica has replaced a Sukhoi SU-30 model. The Air Chief’s official residence is 23, Akbar Road, just opposite the main hub of the Congress, which had made the Rafale deal one of its main election issue. The purchase of the Rafale fighter aircrafts by the BJP-led NDA government had erupted into a big political controversy with the opposition, especially Congress President Rahul Gandhi, accusing Prime Minister Narendra Modi of influencing the deal.
New Delhi: A Delhi court has granted bail to the shooter in the brutal murder of a 46-year-old property dealer, who was shot dead last year as part of a suspected gang rivalry.The shooter, a close aide of infamous gangster Parvesh Mann is the prime accused in the case, where the victim was shot seven to eight times at point-blank range near Ashok Vihar. The victim, Suryaprakash alias Babloo was shot dead in his car in August last year. Babloo, himself a close aide of the rival Gogi gang had several cases of murder against him and also supplied Also Read – Cylinder blast kills mother and daughter in Karawal Nagarweapons. As per the investigation by police in the case, Kuldeep alias Sachin Mann and Parvesh Mann along with other members of his gang had planned to kill Babloo because of a personal dispute between him and Mann, a close aide of Neeraj Bawania, leader of the notorious Bawania gang. Police found Mann had managed to turn Babloo’s close aide Surender on him. Interestingly, Surender was in the driver’s seat of the car when the shooting took place and remained unscathed. Investigators later discovered his role in the murder and named him as an accused in the case. Also Read – Two persons arrested for killing manager of Muthoot FinanceKuldeep’s lawyer, Rishi Pal Singh said investigators recovered the car allegedly used in the crime from the accused’s house and no incriminating evidence was found in it. Moreover, Singh argued that the purpose of not granting bail was preventative and not punitive. The judge, passing the bail order for Kuldeep had said that since the Forensic Science Laboratory report on the CCTV footage from the incident was not yet available, the accused be granted bail as long as he complies with all conditions imposed.