How to Treat a Snake Bite When You’re Stuck in a Worst-Case Scenario The Absolute Worst Movies to Watch with a Date 5 Classic Whiskey Cocktails You Should Know How to Make It’s Time to Ditch Your Sleeping Bag for a Versatile, Lightweight Camping Quilt As the weather gets colder, we’re looking for ways to stay handsome while staying warm. And it’s no easy task as those of you who live in colder climates know. We love layering and overcoats and big boots, but piling on the winter accessories can be a little daunting. You need to keep your head, hands and neck warm when the temperature really drops without looking like Randy from A Christmas Story. Luckily, one of our favorite street style trends from the fall 2013 men’s shows is big, bold, toasty-warm scarves. And we’re not necessarily talking bold as in loud but rather bold as in BIG.From bright colors to strong, graphic patterns to scarves so big they could double as blankets, this winter accessory is definitely a must in terms of both style and comfort. A great scarf can tie an outfit together just as well as it can keep you warm. Check out some of our favorite bold winter scarves below and embrace the plunging temperatures.Club Monaco Reps Stripe ScarfNothing brightens a cold winter day like a bright, graphic scarf. We love this silk version’s bold, vibrant stripes and light fringe detail. $69.50, Club MonacoBMC The Kikyo Hooded Infinity ScarfWe love that this hooded scarf kills two cold weather birds with one stone. Wear the hood up if you want to keep your ears warm or down if you’re simply not feeling it. $34.30, KarmaloopScotch & Soda Blanket Fringe ScarfWe love a Southwestern print in muted colors, and this Scotch & Soda scarf makes a statement without going over-the-top. The cotton/wool blend will keep you comfortable and warm. $89, Revolve ClothingUrban Outfitters Double Cable-Knit Eternity ScarfChunky and warm, this eternity scarf is available in four essentials colors. But we love the deep burgundy with a black, navy or camel coat. $34, Urban OutfittersPendelton Tartan ThrowThat’s right, for those extra cold days, we have no shame grabbing our favorite blanket off the couch or bed and wrapping it around our necks for warmth. This Pendelton throw isn’t too outrageously big either. $149.50, Lands’ EndFeature image via Details.com 14 Scandinavian Clothing Brands You Need to Know Editors’ Recommendations
1. President AW13/14 2. President AW13/14 3. President AW13/14 4. President AW13/14 Raleigh Denim Workshop Makes Jeans with Artistry and Ingenuity in the U.S.A. The Mission Workshop Khyte Sets a New Standard for Messenger Bags When it comes to fit, quality fabrics and top-notch craftsmanship, Italian designers are unprecedented. Like some unspoken guarantee or silent seal of approval, we automatically expect pieces that fit like a glove and last a lifetime.Tuscan menswear label President is no exception. Founded in 1957, the brand dedicates an entire year to produce a single capsule collection. According to head designer Guido Biondi, who is the third generation of his family to head up the brand, it is his strict policy of sourcing every scrap of material and each crafting process from local artisans that equates to the brand’s supreme level of quality.For autumn/winter 2013/14, President present a collection inspired by the craftsmanship and design features of traditional military garments. Therein lies a subtly sartorial collection that does not break with function; these are clothes that will form the foundations of your everyday wardrobe and inspire a feeling of modernity via a comfortable sharpness. Of course, the Tuscan design spirit is evident in every stitch, hood and lapel. And the warm colour palette evokes street style images of Pitti Uomo’s usual suspects: cognac, salmon pink and burnt orange are the perfect companions to tailored chambray shirts and the Travel Nylon Gumm Jacket. Save Your Eyes from the Scourge of the Screens with the Best Blue-Light-Blocking Glasses for Men Portion Control: The Best Meal Prep Containers on the Market Editors’ Recommendations Keep Your Pants On With the Best Belts for Men
Everything You Need to Know About Van Life (and Some Cool Gear to Take Along for Ride) How to Identify, Treat, and Survive a Spider Bite How to Build an Apocalypse-Worthy Bug-Out Bag “Yo, what’s with all the camouflage?” asked Trae Nunnink when he was searching for survival kits online. Surviving a natural disaster or an attack can be the most harrowing experience someone has to go through, and imagine not being prepared. The trauma of surviving is difficult enough on its own, let alone without the necessary supplies, food and water you need to keep going. All Nunnink, the founder of Boltwell, saw was fear and panic-inducing websites, and, according to its website, “camouflage, more camouflage, and an overwhelming sense of panic.” So Nunnink, who worked as an advertising executive, decided to do something about it, so he started Boltwell. “It’s important to empower people with proper planning that leads to peace of mind. At Boltwell, we believe preparing for the unexpected doesn’t mean going off the deep end to get there.”Nunnink gathered experts on disaster-preparedness — professors, EMTs, general preparedness enthusiasts and a few seriously Type A personalities — and they worked for two years to figured out what products should go into Boltwell kits. Then Nunnink selected a package design that’s a departure from your typical survival kits. It has a little turtle with a handle.The foundation of Boltwell’s kits is the B*72, which has everything someone would need to survive for 72 hours, including a pocket lantern, pocket stove, a tube tent, water purification tablets, a medical kit, a radio and more. Boltwell also has a number of disaster-preparedness kits, like the B*66, its car kit that comes with a shovel, an LED flare and an emergency escape tool. The B*7, a pet kit, comes with a collar light, a collapsible bowl and a pet first aid kit. Next time you’re thinking of buying a survival kit, head to Boltwell. It could save your life. For more information, visit boltwell.com. Editors’ Recommendations The List of Must-Have Gear, Gadgets, and Services for Your Next Road Trip This 3-Pound Rapid Raft Is the World’s Lightest, Most Packable Raft
Editors’ Recommendations 5 Canadian Lifestyle Brands You Need to Know Where to Find Artwork to Match Your Style How Full Harvest and Misfits Market Are Saving Ugly Produce For nearly six years, Restrap — a cycling accessory company started by Bingley-based entrepreneur Nathan Hughes — has produced some of the most durable and high quality cycling gear available. From its famous pedal straps to its functional lineup of bags and pouches, everything bearing Restrap’s “Made in Yorkshire” logo touts superior craftsmanship and stellar design. Despite humble beginnings which saw Hughes working out of his home to start the business, an abundance of support, feedback, and backing allowed Restrap to continue to bring its first-rate products to cyclists all over the globe.Related: Sole and Ecco team up to craft an ultra-stylish commuter bicycleLooking to add to its already impressive lineup of accessories and gear, Restrap recently took to the popular crowdfunding website Kickstarter to help launch its brand new line of belts called Link. Ultra-functional yet incredibly stylish, Restrap created the Link belt to help those with active lifestyles find a belt which remained comfortable during the most rigorous of activities. While most belts require constant adjustments and fitting, the Link belt utilizes a unique magnetic buckle capable of being fastened, tightened, or removed all with the use of just one hand. After completing its highly successful campaign — it raised nearly $82.5k to an $11k goal — Restrap now has the ability to bring these uniquely tailored belts to life.Built with 30mm super strength elastic, a magnetic 30mm buckle, and finished with a leather Restrap label and belt loop, each Link belt has been constructed to last an eternity. To back this up, Hughes and company endorses each purchased Link belt with a lifetime guarantee against manufacturer defects. Moreover, each one of Restrap’s Link belts — along with all of its products — utilize locally sourced materials for construction and are carefully hand made at the company’s workshop in Leeds. Not often do you see a company as totally committed to its craft as Restrap, and this dedication allows the consumer to reap immense reward with the product.Armed with a successful Kickstart campaign — plus a stylish and functional design — without a doubt, Hughes and company created the ultimate on-the-go belt. Perfect for weekend warriors, avid adventurers, and everybody in between, the Link belt is an excellent addition to any summer repertoire. Though the crowdfunding campaign ended at the end of May, Restrap still allows customers the ability to pre-order this incredible belt through its website, and promises — even while filling its Kickstarter orders — to have them delivered by the end of July. We recommend getting onboard with these now; you won’t want to let this fantastic product pass you by. The Best Graphic Tee Companies to Liven Up Your Wardrobe The Mission Workshop Khyte Sets a New Standard for Messenger Bags
Some of the best vacations are not necessarily in stunning or exotic locals. You can have a memorable experience by staying in a unique hotel or an incredible vacation rental. A treehouse on the outskirts of Chattanooga. An art deco hotel in Buffalo. A converted jail in Boston. Where you stay often has a huge impact on your overall impression of a destination.PlansMatter was created for the ultimate architourist — for the person who cares about good design both in the cities they visit and the place they rest their head at night. The term “architourism” may sound nerdy, but most every traveler has done it at least once in their life. If you’ve gone to New York City for the Empire State Building or Paris for the Eiffel Tower or Egypt for the pyramids, you’re an architourist.Like Airbnb, PlansMatter is a peer-to-peer booking site that connects you to hosts with boutique hotels or vacation rentals. Founders Connie Lindor and Scott Muellner built PlansMatter to bring together hosts and travelers who know the value of staying in architecturally extraordinary spaces and the increased enjoyment that can bring to a trip. With that in mind, the site sources some of the most stunning vacation spots in the world.In order to be listed on the site, homes or hotels must have the “wow factor” that makes your jaw drop when you first pull up and keeps your mouth hanging open as you walk inside. The buildings have to be architecturally significant, either in design or by the designer.You can relax in your own private hideaway built into the hill at Villa Vals in Vals, Switzerland (pictured above). This quirky home features endlessly intriguing architectural features like an underground tunnel to take you to from the entrance to the home itself and a wonderful blend of varying design styles.Or you can watch sheep roam the countryside of Chile’s Torres del Paine National Park from your room at Tierra Patagonia Hotel + Spa (pictured above), where the building and landscape become one. Sitting on the edge of Lake Sarmiento and providing unobstructed views of Torres del Paine, this hotel is luxurious yet welcoming with it’s raw wood, stone finishes, large windows that help brighten up the rooms.You can even search the site by architect, which is really exciting for design nerds — especially when you see there are Frank Lloyd Wright homes available. Each FLW space has been meticulously preserved and features Wright’s original custom furniture.You can trust that every home or hotel featured will meet expectations; the PlansMatter team visits each place to photograph, review, and experience it for themselves. Interested in booking one of these stunning retreats? Simply click the “Check Availability” tab and you’ll be taken to the host’s booking page to reserve your stay.Images courtesy of PlansMatter. Deep Sleep: The World’s Most Incredible Underwater Hotel Rooms Editors’ Recommendations Score an RV Rental for $1 Per Day With Secret Repositioning Deals 7 Frank Lloyd Wright-Designed Homes that You Can Rent for Your Next Vacation You Can Sleep in Hunter S. Thompson’s Colorado Cabin The Best Campgrounds Near Major U.S. Cities
Mr. Speaker, I am extremely pleased to rise to make my contribution to the Sectoral Debate, and I would like to thank the Most Honourable Prime Minister for affording me the opportunity to serve in the capacity of Minister of Tourism and Entertainment.Congratulations to the Speaker, Clerk and the committed staff of the House for the good job you have been doing.I also wish to acknowledge and thank my immediate family, my wife Sheila, our two children, my mother and my extended family for their unwavering support over the years that I have executed my duties.I extend special thanks to my constituents in Western Westmoreland, Mayor Bertel Moore, the Councillors and my management team. Mr. Speaker, without their support, I would not have had the privilege of addressing this Honourable House in this capacity.[Watch the presentation JIS LIVE Web Stream]And most of all, I thank God for blessing me with health and strength.Mr. Speaker, as our nation seeks to navigate through this global economic storm, I believe that this is a very crucial time for the tourism sector as we seek to lay a firm foundation for the sustainable development of our country.I am pleased to inform this Honourable House and all Jamaicans that, despite the many challenges facing our tourism sector, it continues to perform well, due largely to the support of our committed tourism partners and the diligent efforts of the outstanding team I have the pleasure of leading.Mr. Speaker, I wish to express my sincere appreciation to my Minister of State and the entire team at the Ministry and its agencies led by the Permanent Secretary.I also want to commend the chairpersons of the boards of the respective agencies within the Ministry, and their hardworking board members. Mr. Speaker I want to also acknowledge the Chairmen of the six Resort Boards.I want to specially thank the President of the Jamaica Hotel and Tourist Association, Mrs. Evelyn Smith and her Executive for the cooperation and support that they have provided over the last year.They have been an integral part of the process of leading a sector that is so important to us all.This has been demonstrated on a number of occasions Mr. Speaker:The pivotal role they played during the budget debate discussions on the industry taxes last year.Their participation in the ongoing initiatives to strengthen the linkages between tourism and other sectors.Their contribution to the ongoing initiatives to implement worker benefits.Their input in the planned implementation of an energy efficiency programme within small hotels; among a number of other ventures.Mr. Speaker, I believe the JHTA has found the perfect balance between sector advocacy and looking out for the national interest and I have to commend them.I look forward to continuing to work with all our tourism partners, working together for the good of our nation…READ MOREDownload Contribution to the 2013/2014 Sectoral Debate by Minister, the Hon. Wykeham McNeill
The State Minister was speaking at the dedication ceremony for the Ministry’s multimillion dollar administrative building, which was opened today (January 2) on the grounds of the Office of the Commissioner of Police. The Commissioner’s annual devotion function was also held to coincide with the opening. State Minister in the Ministry of National Security, Senator the Hon. Pearnel Charles Jr., has thanked all members of the Jamaica Constabulary Force (JCF) for their service to the nation, and for risking their lives to protect Jamaicans on a daily basis.He reminded the members that many Jamaicans, especially the nation’s youth, are looking up to them in 2018 not only for protection but for guidance.The State Minister was speaking at the dedication ceremony for the Ministry’s multimillion dollar administrative building, which was opened today (January 2) on the grounds of the Office of the Commissioner of Police. The Commissioner’s annual devotion function was also held to coincide with the opening.“Being a police [officer] is a very unique job. To my daughter, police officers are supermen and superwomen. That’s the child’s definition. You’re expected to be so many things to us all. We will do all that we can in 2018 to let you know that you are valued,” he said.Meanwhile, Commissioner of Police, George Quallo, said he is pleased that the new administrative building was completed before the first working day in 2018, and that the conference room was functioning fully to host the Commissioner of Police’s annual devotion ceremony.The Commissioner encouraged members of the JCF to continue serving to the best of their abilities.“Last year was a very challenging year for us as JCF members, and I have no doubt that this year will also be (testing), but I’m also convinced that with Christ in the vessel, we shall smile at the storm. Where there is no test, we will have no testimony,” Mr. Quallo said.“With all the challenges, I’m just going to suggest that we remain focused. We must remain focused on what we have to do this year. Leave the baggage of 2017 behind.“It makes no sense carrying it forward. If we’re going to succeed as an organisation, we must start to think positively and to see things moving in the right direction,” he added.The Commissioner said the opening of the new building, which will be the new office for the Heads of Administration, Operations, and Strategic Operations; the Criminal Investigation Branch headquarters and other senior officers, will greatly assist with fulfilling the mandate of the JCF. Story Highlights Meanwhile, Commissioner of Police, George Quallo, said he is pleased that the new administrative building was completed before the first working day in 2018, and that the conference room was functioning fully to host the Commissioner of Police’s annual devotion ceremony. State Minister in the Ministry of National Security, Senator the Hon. Pearnel Charles Jr., has thanked all members of the Jamaica Constabulary Force (JCF) for their service to the nation, and for risking their lives to protect Jamaicans on a daily basis.
Contracts for the programme’s implementation were signed by JSIF Managing Director, Omar Sweeney, and representatives of partner non-governmental organisations (NGOs) that will work with community stakeholders, during a ceremony at the agency’s head office in New Kingston on Tuesday (September 18). The target communities include Denham Town, West Kingston; Waterhouse, St. Andrew; Portmore, Spanish Town and Bog Walk, St. Catherine; Lionel Town, Clarendon; and Granville and Tucker, St. James. Story Highlights At-risk youth between eight and 25 years of age who reside in volatile and vulnerable communities in five parishes are to benefit from the Jamaica Social Investment Fund’s (JSIF) implementation of an $18-million behaviour change programme over the next eight months. At-risk youth between eight and 25 years of age who reside in volatile and vulnerable communities in five parishes are to benefit from the Jamaica Social Investment Fund’s (JSIF) implementation of an $18-million behaviour change programme over the next eight months.The target communities include Denham Town, West Kingston; Waterhouse, St. Andrew; Portmore, Spanish Town and Bog Walk, St. Catherine; Lionel Town, Clarendon; and Granville and Tucker, St. James.Contracts for the programme’s implementation were signed by JSIF Managing Director, Omar Sweeney, and representatives of partner non-governmental organisations (NGOs) that will work with community stakeholders, during a ceremony at the agency’s head office in New Kingston on Tuesday (September 18).The Behaviour Modification Initiative/Community-based Behaviour Change Programme, which forms part of phase four of the European Union (EU)-funded Poverty Reduction Programme (PRP IV), aims to reduce deviant behaviour among the target beneficiaries through a range of social services and interventions.These include conflict resolution, mentorship, the performing arts, sports, and training and soft skills development for employment.Each parish will be allocated $3.6 million of the earmarked $18 million, to undertake activities.This will be supplemented by communities’ contributions, facilitated by NGOs through various inputs, totalling $1.8 million.These entities include the Multicare Youth Foundation, Family and Parenting Centre, Women Media Watch Jamaica, University of the West Indies Social Welfare Training Centre, and Peace and Love in Society (PALS).In his address, Mr. Sweeney said that the behaviour-modification project is consistent with the country’s long-term National Development Plan – Vision 2030 Jamaica, specifically Goal #1, of ensuring that “Jamaicans are Empowered to Achieve their Fullest Potential”.“I’m happy that [the] focus will be on behaviour modification and that this funding will support the work you, the NGOs, do every day,” he added.Social Officer at JSIF, Taneisha Stoney, said the NGOs will partner with grassroots entities, such as community development councils, community-based organisations and youth clubs, to implement various programmes, which are expected to get under way on Wednesday (September 19).She said it is anticipated that these interventions will yield that 15 per cent reduction deviant behaviour target under goal four of the PRP.Meanwhile, JSIF Project Manager, Celia Dillon, said the agency welcomed the EU’s ongoing grant support, through which “we are able to help you fund another cycle of your programmes… because they are extremely important in our… fight [to reduce] poverty”.
zoom Fendercare Marine has provided STS support services for the first open sea’s Liquefied Natural Gas (LNG) STS operations for two of the world’s leading Gas Majors.Fendercare Marine has carried out STS operations since 1995 and annually conduct almost 3,000 STS operations globally from over 45 STS locations across the world.The LNG STS operations were performed in the Eastern Mediterranean with a number of 152,000 cm3 membrane tank Liquefied Natural Gas Carriers (LNGC), and most recently a 135,000 cm3 moss type carrier; all delivering cargo to one of Excelerate Energy’s 138,000 cm3 Floating Storage & Regasification Unit (FSRU). These were the first open sea LNG STS operations for either major.Fendercare Marine is the world’s largest operator of genuine Yokohama brand pneumatic fenders and supplied Yokohama Jumbo fenders for the operations, in conjunction with additionally supplied ship-specific mooring equipment and a dedicated rigger to assist with the secure mooring and unmooring of the oil major LNGCs. Furthermore, two large ASD tugs provided assistance as well as guard duties ensuring the operations were extradited without interruption.Fendercare Marine facilitated sessions in their UK simulator to mirror the predicted sea states they would face which, in turn, provided the necessary feedback to assist in tailoring a mooring system to suit. Further simulator sessions allowed for extensive testing of various emergency break away situations.In addition to STS services, Fendercare Marine offers a turnkey service for the operation and management of onshore and offshore marine terminals, supplying pilotage and Mooring Master provision for tandem and CALM buoy berthing, CALM buoy inspection and maintenance, product supply, AHT provision & management, diving & ROV services, as well as hose management, supply and change out.Fendercare Marine, January 30, 2014; Image: SPT
zoom The Hellenic (Greek) Coast Guard is searching for three missing crew members of the Togo-flagged cargo ship, Ag Marina that sank early on Thursday about 30 nautical miles off the western coast of the island of Crete.Thankfully the bulk carrier Princess Maria (IMO 8212087) managed to save four out of seven crew members, all Russian nationals, from the stricken vessel before it went down. Still missing are the captain, electrician and master of the vessel.According to the Coast Guard, the ship was en route from Montenegro to Odessa, loaded with six trucks and probably containers. Actively engaged in the rescue operation are four cargo ships, one Hellenic Coast Guard helicopter and one patrol vessel. World Maritime News Staff, April 25, 2014
zoom Bluewater Energy Services B.V. has secured a contract with Saipem SA for the engineering of two complete deep water Turret Mooring Systems and the related procurement and construction of two Turret and Swivel Systems.The Turret Mooring Systems will be part of two converted FPSO units, owned by Total, for the Kaombo deep water Field Development Project, located in Block 32, offshore Angola in a water depth of 1650 meters.The Kaombo development scheme includes 59 subsea wells, connected through around 300 km of subsea lines, to two FPSO units, each with a production capacity of 125,000 barrels per day.“With an extensive track record in Turret Mooring Systems already, this project is a great opportunity for Bluewater to strengthen its position as one of the few worldwide specialists and suppliers of large complex Turret Mooring System,” said Hugo J. Heerema, President and CEO of Bluewater Energy Services B.V.Bluewater specialises in design, development, lease and operation of tanker-based production and/or storage (FPSO, FSO) systems, as well as provides Single Point Mooring (SPM) systems.The company has designed, manufactured, supplied and installed FPSO, FSO and SPM systems for oil companies worldwide through turnkey supply and time charter contracts.The company also provides operational and logistic management and support for FPSO and FSO systems. June 5, 2014
zoom The 18,300 TEU Triple E container ship Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway today.The 399 metre long, 60 metre wide, 195,000 ton boxship, equivalent in length to almost four football pitches, is one of the largest container vessels in the world, operating on Maersk’s new East-West Network.It was drawn alongside DP World London Gateway Port, adjacent to Europe’s largest logistics park, at 7.30 am local time, with the help of the Port of London Authority’s pilots.It comes just weeks after the Edith Maersk called at DP World London Gateway, which at 366 metres, had held the previous record for the largest ship to sail up the River Thames.Chief Executive of DP World London Gateway, Simon Moore, said: ”This is yet another record and landmark moment for DP World London Gateway. By welcoming the Munkebo Maersk we have demonstrated again that we are more than capable of handling the world’s biggest container ships, in this case operating on the Asia-Europe routes.”Image: London Port Authority
zoom In light of a thriving tanker market, Oslo-listed Tanker Investments Ltd. has reported strong yearly results as its net income increased to USD 75.8 million in 2015, compared to a net loss of USD 3.1 million experienced a year earlier.TIL also said that its net revenues increased to USD 198.5 million in 2015 from USD 59.2 million in 2014, primarily due to an increased number of vessels and higher average time charter equivalent (TCE) rates in 2015.“The tanker market in 2015 was the strongest since 2008. The main catalyst for the strong freight market was continued high levels of global oil production,” TIL said.“Oil prices also fell to the lowest average price in 11 years in 2015, which was positive for the tanker market as it led to higher refinery throughput to take advantage of strong refining margins, increased commercial and strategic stockpiling of oil, and lower bunker fuel costs for ship owners. Finally, tanker fleet growth remained low with just 2 percent growth in the crude tanker fleet.”Looking ahead, the company said that 2016 will be a strong year for crude tanker rates driven by high levels of global oil supply, rising oil demand, low oil prices, changing trade routes, and a manageable level of fleet growth.TIL’s quarterly net income increased to USD 28.5 millionThe company said that its fourth quarter of 2015 was particularly strong, led by the large crude tanker sectors. TIL’s net income stood at USD 28.5 million, compared to a net income of USD 11.6 million in the third quarter of 2015, while the net revenues increased to USD 67.2 million from USD 46.4 million in the previous quarter.The increase was attributed mainly to a full quarter of revenue relating to the six new Suezmax vessels delivered during the third quarter and higher TCE rates earned by the larger vessels.“The fourth quarter of 2015 was a record for Tanker Investments as our 100 percent spot traded fleet benefitted from the strong tanker market fundamentals,” commented William Hung, Tanker Investments Chief Executive Officer. “In addition, we were able to return significant capital to long-term shareholders in the form of share repurchases and with the recent sale of our two VLCCs and subsequent announcement of a new USD 60 million repurchase plan, we intend to continue adding shareholder value by repurchasing our stock below net asset value.”“Tanker rates have remained firm into the first quarter which will allow the company to continue delevering its balance sheet while distributing excess capital to shareholders via share repurchases or dividends,” he added.
zoom Struggling South Korean shipping company Hyundai Merchant Marine (HMM) will have to ensure lower charter rates with ship owners so as to avoid bankruptcy.The company has been in talks with ship owners since February on lowering the freight rates. According to HMM’s spokesperson, cited by the Korea Herald, the negotiations are expected to complete by the end of April.Details on the amount of cuts and potential number of concerned ship owners were not revealed.An agreement on the matter would pave the way for a support from the company’s creditors who earlier this month refused to back the company’s proposal to delay debt payment. Fortunately, Korea Development Bank’s (KDB) came to the company’s rescue giving it a three-month maturity extension on its loans starting March 29th.Earlier this week, cash-strapped Hyundai Merchant Marine announced its decision to sell its stake in the Busan-based Hyundai Pusan New-Port Terminal Co. in an attempt to return to liquidity,Under the plan, HMM, which owns 50 percent plus one share in the port terminal, would sell 40 percent plus one share to the Port of Singapore Authority (PSA) for a price of some USD 85.7 million.Furthermore, the shipping company has launched a self-rescue plan through which it filed for co-management with its creditors. HMM added that if the creditors decide in favor of the company, HMM’s maturing debts would be rolled over and part of them would be rescheduled.HMM, which has loans of KRW 382 billion (USD 334 million) maturing in 2016 and KRW 606bn (USD 530m) in 2017, is on the course to report five consecutive years of operating losses.World Maritime News Staff
zoom The first phase of Australia’s largest RoRo and automotive terminal at Webb Dock West in Melbourne was officially launched on April 10, the Melbourne International RoRo and Automotive Terminal (MIRRAT) confirmed.MIRRAT was awarded the rights to design, construct and operate the new terminal, as part of the country’s AUD 1.6 billion (USD 1.2 billion) Port Capacity Project, in July 2014 by the Port of Melbourne Corporation.Under the first phase of the project, a new 185,000 square metres facility north of the current Webb Dock West car terminal was constructed, while the second phase will see the incorporation of the current automotive terminal at the south end of Webb Dock West from January 1, 2018, taking the total size of the facility to 355,000 square metres.Once finished, the facility will have a capacity to handle up to a million units per annum and, with a total berth length of 920 metres, it will capable of accommodating three vessels at the same time, MIRRAT said.The facility will also include a 8000 square metres fully enclosed and weather proof cargo storage area, a maintenance area and truck parking facilities.The project is expected to increase the number of vehicles handled by the port of Melbourne from the 2013 level of 370,000 vehicles to some 600,000 cars in 2025, and eventually to one million vehicles in 2040, the company said.World Maritime News Staff
Image Courtesy: A&PUK-headquartered ship repair, conversion and marine specialist A&P Group has completed a 13-day maintenance program for Mozart containership at its Falmouth facility.Built at South Korean Hyundai Mipo Dockyard in 2007, Mozart is owned by Embarcadero Maritime III, a joint venture between the UK’s Borealis Maritime and the US-based KKR.The 39,339 dwt boxship arrived in Falmouth earlier this month for its special survey docking period.A&P Group’s works included hull preparation and painting, minor shell steel renewals, electric motor overhauls and hatch steel and rubber seal repairs and renewals.The company also carried out a tail shaft seal modification to conform to global environmental pollution control regulations.A&P Group operates seven dry docks across three locations in the UK and has a sister business in Australia that provides ship repair services and support to the Royal Australian Navy.
German cruise line TUI Cruises celebrated the delivery of its new cruise ship Mein Schiff 6 on May 9, 2017. The ship was constructed by Finnish shipbuilder Meyer Turku.Featuring a length of around 294 meters, Mein Schiff 6 has 15 decks with around 1,267 staterooms and the capacity to carry approximately 2,534 passengers. It is the fourth ship in a series of vessels built in Turku for TUI Cruises.“We are very happy about the delivery of Mein Schiff 6 in time and excellent quality,” Wybcke Meier, TUI Cruises CEO, said.“With Mein Schiff 6 our goal was to improve further from previous ships with a few fine tunings based on passenger feedback and at the same time build it with fewer hours than before. At the same time we are ramping up our production volume to meet the demands of our long and stable order book,” Jan Meyer, CEO, said.With an order book reaching until 2024, Meyer Turku shipyard is facing a gradual ramp up of production in the coming years.“We are rebuilding the shipyard with heavy investments exceeding 100 million euros for a further increase in output,” Meyer added.Image Courtesy: Meyer Turku
zoom German shipping major Hapag-Lloyd finished the first three months of the current financial year with a positive operating result, in spite of higher bunker prices.Although the company’s EBITDA improved by 6.4% to EUR 131.3 million from last year’s EUR 123.4 million, Hapag-Lloyd informed that its net loss widened to EUR -62.1 million from EUR -42.8 million seen in the same quarter in 2016.Hapag-Lloyd said that the first-quarter result “was noticeably affected by ongoing bunker price increases.” At 313 USD/tonne, the average bunker price was clearly above the previous year’s figure of 197 USD/tonne, representing the highest level seen since June 2015.The transport volume increased by 6.8% year-on-year to more than 1.9 million TEU from 1.8 million TEU handled in the same period a year earlier. While the average freight rate was USD 20 lower than in the first quarter of the previous year at 1,047 USD/TEU, there were further signs of a slight upward curve compared with the past quarters, according to the company.The greater transport volume and exchange rate effects pushed revenue up by 10.4% to EUR 2.13 billion from EUR 1.93 billion seen in the corresponding period in 2016.Rate increases were introduced in a number of trades even though the industry environment remains challenging, but these rate increases “are only going to have an impact on the company’s result later in the year,” Hapag-Lloyd said.“Our activities in the first quarter focused on preparations for the merger with UASC and on the launch of our new alliance. The launch of the THE Alliance went well, and the merger with UASC will be closed shortly,” Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said.“After the closing our priority will be to integrate UASC into Hapag-Lloyd quickly and to realize initial synergies from the merger,” Jansen added.The merger with the Arabian liner shipping company is expected to generate annual savings of USD 435 million from 2019 onwards, with a large proportion of this already to be achieved in 2018, according to the company.
zoom Tanker market earnings in the third quarter of 2017 are encountering difficulties, but peaking fleet growth and increased tonne-miles could see spot rates stabilize and time charter rates improve, Maritime Strategies International said.The quarter is proving vexatious for owners still struggling with the effects of fleet oversupply, but MSI believes that changing trade patterns could help stabilise the market towards year-end and into 2018.“With all-OPEC crude exports setting record highs in July, the cartel’s attempts at lowering production are clearly open to question. There was a reduction in flows from OPEC’s Gulf producers while China’s imports tumbled to seven-month lows in July.”Exports are seeing a divergent trend in the group though, with African volumes of lighter grades on the rise while Middle Eastern medium/heavy crudes have been receding. China’s decline could signal the potential start of a slowdown in imports, yet the July figure was still up by 12% from a year prior and the ongoing downtrend in China’s domestic crude output should continue to lend support to imports, MSI informed.“Though the remainder of Q3 will be weak, fleet growth has now moved past its peak which should have some stabilising effect as we look to 2018. Despite falling in June, T/C rates are set to see a modest improvement over our forecast,” Sierra Highcloud, MSI Analyst, said.“However, liquidity is thin and should the upside expected in Q4’s spot market not materialise, the period market could move lower as owners look to protect against spot market downside,” Highcloud added.Furthermore, other factors have affected the situation. India has been able to buy more US crude after recent upgrades which have allowed refiners to easily switch between running light and heavy crudes. African OPEC volumes of lighter grades have tracked higher while Middle Eastern medium/heavy crudes have been receding.In Venezuela, where output has already seen a dramatic decline due to political turmoil, any possible oil-related sanctions would invariably have numerous and far-reaching impacts across the tanker market, Highcloud said.
zoomIllustration. Source: Pixabay under CC0 Creative Commons license The Saudi Arabia-flagged tankers involved in the sabotage incident off UAE earlier this week have been identified as the 300,000 dwt Amjad and the 105,200 dwt Al Marzoqah.According to data provided by VesselsValue, the VLCC and the LR2 tanker significant hull damage close to the water line after being fired upon in a suspected sabotage attack off Fujairah.The incident occurred in the Gulf of Oman on May 12. There were no reports of injuries to the vessels’ crews.The ships were on their way to cross into the Arabian Gulf. One of the two tankers was to be loaded with Saudi crude oil from the port of Ras Tanura, to be delivered to Saudi Aramco’s customers in the United States.Besides the two Saudi tankers, the incident involved the Norway-flagged crude oil tanker Andrea Victory and the UAE-flagged tanker A Michel, both of which suffered significant hull damage close to the water line at its stern. A Michel began to list due to water ingress, and booms were deployed as a precaution against potential pollution, VesselsValue added.Khalid Al-Falih, UAE’s Minister of Energy, Industry and Mineral Resources, earlier denounced the attack adding that it had an aim “to undermine the freedom of maritime navigation, and the security of oil supplies to consumers all over the world.”World Maritime News Staff