ITF, Maritime Employers Hammer Out Wage Increase for Seafarers

After a lengthy and challenging negotiation process, the International Transport Workers’ Federation (ITF) has sealed a new framework agreement with maritime employers represented by the Joint Negotiating Group (JNG). JNG is comprised of the International Maritime Employers’ Council (IMEC), the International Shipping Employers’ Group (ISEG), which incorporates the International Maritime Managers’ Association of Japan (IMMAJ), and the
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The extent of the damage to the southern lock-gate at Kiel-Holtenau is worse than originally anticipated following the allision on February 19, GAC said citing authorities and appointed surveyors. The 1,008 TEU boxship Akacia rammed into the gate resulting in huge damages. The underwater section of the gate has been damaged as well compromising the stability
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Miami-based cruise company Norwegian Cruise Line Holdings (NCLH) reported record earnings in the fourth quarter and full year 2017, mainly due to robust revenue growth. For the year ended December 31, 2017, the company generated a net income of USD 759.9 million, up from USD 633.1 million reported in the previous year, while its revenue
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Japanese shipping company Mitsui O.S.K Lines (MOL) has placed an order for three 56,000 dwt bulk carriers with compatriot Oshima Shipbuilding, according to Asiasis. The three bulker newbuildings are said to be scheduled to join MOL’s fleet in 2021. MOL is reportedly paying USD 24 million per ship. The shipping major already has 70 bulkers
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The container shipping industry has braved the storm over the past couple of years getting to grips with tonnage overcapacity through consolidation, mergers and acquisitions, as well as abstaining from ordering new ships. The recovery the container sector made last year is fragile and improved freight rates are likely to become a short-lived trend. Specifically,
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Scottish Government has granted funding for a feasibility study into developing a hydrogen-powered ferry service to some of the country’s remotest island communities. The feasibility project will look at the manufacture of the hydrogen using local wind power, the challenges of how to handle, transport and store the hydrogen on local piers, and how the design
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Oil that reached islands in southern Japan earlier this month is highly likely to have come from the sunken Iranian tanker Sanchi, the Japan Coast Guard said on Thursday. Samples of oily matter that washed up on Feb. 8 on the shores of the Okinoerabu and Yoron islands in the Amami chain were found to
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Offshore rig firm Borr Drilling , controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil prices in 2014 forced oil firms to cut back on offshore exploration, reducing demand
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British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union in case Britain loses single market access. “We are about to apply for a licence to establish a subsidiary company in the Netherlands,” Steamship Mutual’s executive chairman Gary Rynsard told Reuters in
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The U.S. Navy on Tuesday assisted in the rescue three fishermen who spent eight days adrift aboard their 19-foot skiff in the South Pacific. The fishermen were first reported missing on February 12 after they failed to return from a fishing trip near Chuuk Lagoon in the Federated States of Micronesia. According to the report,
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