Society of Master Mariners

SHIP REPAIR: A FINANCIAL BALANCING ACT

19 JAN 2021 Shipowners have limited options to access financing for ship repair, given the capital-intensive nature of vessel repairs also represents a financial risk for shipyards. Typically, a shipowner must fund the entire capital cost of vessel repairs from its own cash resources, although it may in exceptional cases …

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LAST-MINUTE TERROR DESIGNATION ENDANGERS FOOD LIFELINE FOR YEMEN

18 JAN 2021 A U.S. State Department decision to blacklist Yemen’s Houthi rebel group may interfere with efforts to prevent a massive spill in the Red Sea – and lead to starvation on shore.  On January 10, U.S. Secretary of State Mike Pompeo designated the Iran-backed Houthi rebel group (also …

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IRAN TEST-FIRES BALLISTIC MISSILES 100 MILES FROM CARRIER STRIKE GROUP

17 JAN 2021  On Saturday (16TH JAN’21), Iran conducted a test of its medium-range ballistic missiles over the Indian Ocean, landing at least one within 100 miles of the USS Nimitz Carrier Strike Group. At least one other missile landed within 20 miles of a merchant vessel, U.S. Navy officials told …

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FRANK COLES RESIGNS FROM HIS POST AT THE HELM OF WALLEM GROUP

15 JAN 2021  Frank Coles has resigned his post as CEO of ship management firm Wallem Group and will be departing soon, the company announced Friday. The managing director of Wallem Shipmanagement Ltd., John-Kaare Aune, will be taking the helm until a permanent replacement can be found.  “As many will …

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WSC: COLLABORATION NOT REGULATION TO ADDRESS SHIPPING CHALLENGES

14 JAN 2021  With growing calls from manufacturers, retailers and trade associations for governments to increase their oversight and regulations of the global shipping industry, the World Shipping Council issued an analysis in defense of carriers. Citing the unparalleled disruptions to the global supply chain from the pandemic, the trade …

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NEW COVID STRAINS MAY DEEPEN CREW CHANGE CRISIS

13 JAN 2021  The crew change crisis is set to ramp back up once more, according to crewing firm Danica. Restrictive cross-border movement rules are being imposed again following the emergence of the new, more infectious UK and South African COVID-19 variants, causing airlines to cancel flights and ports to tighten …

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JAPAN’S FIRST FEMALE CONTAINER TERMINAL CEO TO GUIDE APM’S GROWTH

12 JAN 2021  APM Terminals Japan announced the appointment of Sakura Kuma as the first female CEO of a container terminal operation in Japan. Joining APM from NYK, Kuma will lead the expansion of the company’s business in Japan. “I am pleased to welcome Sakura Kuma to APM Terminals Japan, …

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RUSSIAN CO UNDER INVESTIGATION FOR STEALING HIS OWN SHIP’S PROPELLERS

11 JAN 2021 A Russian Navy officer is under investigation for conspiring to steal two bronze propellers from his own ship, according to Russian state media. “An officer, as part of an organized group, together with other military personnel and civilians, stole two bronze propellers with a total weight of …

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