Society of Master Mariners

COSCO OFFERS $6.3 BILLION FOR ORIENT OVERSEAS

COSCO Shipping Holdings Co Ltd(601919.SS) has offered to buy Orient Overseas International Ltd (OOIL) (0316.HK) for HK$49.23 billion ($6.30 billion), in a deal that will see the mainland China group become the world’s third largest container liner. The proposed deal is the latest in wave of mergers and acquisitions in …

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BOURBON JOINS AUTONOMOUS SHIP INITIATIVE

Offshore services company Bourbon has entered into an MOU with Automated Ships Ltd (ASL) to support the building of the world’s first autonomous, fully-automated and cost-efficient prototype vessel for offshore operations, in collaboration with the project’s primary technology partner, Kongsberg. Bourbon will leverage its expertise in building and operating a …

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DRAMATIC DROP IN CONTAINERS LOST AT SEA

The World Shipping Council (WSC) estimates that the average number of containers lost each year has dropped since 2014 by 48 percent. Based on the most recent survey results, an average of 568 containers are lost at sea each year, not including catastrophic events. If catastrophic events are included, that …

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SOMALIA DETAINS BOXSHIP OVER CUT INTERNET CABLE

The Somali government has detained the container feeder MSC Alice on charges that her anchor cut the undersea fiber-optic cables that carry the nation’s internet traffic. Somalia has had no terrestrial internet connection to the rest of the world for the past three weeks, and the government is seeking compensation for damages. …

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NEW LEADERSHIP AT V.GROUP

Leading ship management conglomerate V.Group announced Friday that it has appointed a new CEO and chief commercial officer. Incoming CEO Ian El-Mokadem has a background in the testing and calibration industry as the former CEO of Exova. Exova provides testing and advisory services in the aerospace, defense and energy industries, …

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TURKEY PROACTIVE ON SHIP RECYCLING CONVENTION

Progress towards the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships (2009) has been slow. However, Turkey, one of the world’s leading ship recyclers, has again shown its willingness to meet the requirements of the Convention with another yard achieving a statement of compliance. ClassNK issued the …

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