NATO Opening Counter-Piracy Office in Djibouti

By MarEx 2015-04-23 19:35:40 NATO and the Republic of Djibouti have enhanced their anti-piracy cooperation, by concluding an agreement to establish a NATO liaison office in Djibouti in support of the Alliance’s counter piracy operation, Ocean Shield, in the Gulf of Aden. NATO Deputy Assistant Secretary General for Operations, Ambassador Francesca Tardioli, and the Republic…

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U.S. Navy Honors Cesar Chavez

By Reuters 2015-04-23 19:27:55 The U.S. Navy honored late civil rights leader Cesar Chavez on Thursday as a veteran who served in the Western Pacific just after World War II with full graveside honors at his memorial in California, Chavez’s foundation said. Chavez, a labor leader and civil rights icon who is revered by agricultural…

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U.S. Navy Drone Passes Final Test: Refueling

By MarEx 2015-04-23 19:10:48 The U.S. navy drone X-47B successfully conducted the first ever autonomous aerial refueling of an unmanned aircraft on April 22, completing the final test objective under the Navy’s Unmanned Combat Air System demonstration program. While flying off the coast of Maryland and Virginia, the X-47B connected to an Omega K-707 tanker…

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Statoil Doesn’t Want to be “Bipolar”

By Reuters 2015-04-23 18:54:02 Norway’s Statoil is cutting investments less than any other oil major this year, positioning for a crude price recovery but taking a risk should the slump be protracted. By continuing to spend on projects that won’t start making returns for up to a decade, the state-controlled energy giant hopes to sidestep…

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Fugro Sets Seafloor Drilling Record

By MarEx 2015-04-23 18:38:41 Fugro has set a new seafloor drill water depth record of 2,923 meters in the Gulf of Mexico. The new water depth record of 2,923 meters (9,589 feet) was set while completing a combined sampling and piezocone penetration testing (PCPT) borehole to 62 meters (203 feet) below the seafloor. Achieved using…

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Authorities View Oleg Naydenov Wreck

By MarEx 2015-04-23 17:51:50 Around 120 kilos of fuel has been removed from the Spanish Gran Canaria tourist beaches Veneguera, Tasarte and Taurito, the government said on Thursday, after a Russian fuel-laden ship sank off the coast earlier this month. The situation on the beaches would worsen over the next few days, the environmentalist group…

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MARAD Administrator Jaenichen Discusses Key Maritime Issues

By MarEx 2015-04-23 14:02:58 Maritime TVis pleased to present another program in the “Ask the Administrator” seriesof interviews with Maritime Administrator Paul “Chip” Jaenichen on important issues affecting the U.S. maritime industry, pre-recorded at various locations around the country and Washington D.C. This 5th program in the series dealt with a full spectrum of topics…

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Navios buys 14 from HSH debtors

Angeliki Frangou’s Navios Group has agreed to acquire seven bulkers and seven container ships from debtors of Germany’s HSH Nordbank.
This is the second major transaction involving Navios’ acquisition of vessels previously owned by distressed borrowers that were bundled together by HSH. In 2013, a
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Perpetual preferred offerings continue

NYSE-listed Tsakos Energy Navigation has priced the shipping industry’s third perpetual preferred equity offering of the month.
The Nikolas Tsakos-led tanker company is selling 3.4 million preferred shares at USD25/share with a dividend rate of 8.75%. The Tsakos family trust is purchasing 200,000
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Weak marine market hits Wartsila

An expected weakness in its Ship Power business area has hurt the 1Q15 result of Wartsila, the Finnish engineering group, although the company retained guidance regarding its full year performance unchanged.
Group net profit fell to EUR64 million (USD70 million) in 1Q15 from EUR70 million in the
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