P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P & O Australia has entered into an agreement to purchase a platform supply vessel, design UT 755L, from Consensus Foss KS (Det Nordenfjeldske Dampskipsselskap). The vessel is under construction at Aker Brattvaag. IOS will formally take over the vessel immediately after delivery from the yard in December 2002. After the delivery of the above vessel IOS will operate a fleet of 17 vessels and have three vessels on order for delivery in 2003.
Aker Yards has signed a contract with Island Offshore VIII KS, a company within the Island Offshore Group in Ulsteinvik, Norway, to deliver a UT 755 LN platform supply vessel. The value of the contract is approximately NOK 150 million. This is the 18th contract between the shipowner, Island Offshore in Ulsteinvik and Aker Yards. The hull for the platform supply vessel will be built in Romania and the vessel will be outfitted in Brevik. Delivery is scheduled for primo November 2007.
K-Sea Transportation Partners L.P. has completed the acquisition of Smith Maritime, Ltd. of Honolulu, Hawaii and Sirius Maritime, LLC of Seattle, Wash. President and CEO Timothy J. Casey said: “We are very excited about welcoming the Smith and Sirius operating teams to K-Sea. This acquisition immediately increases our barrel-carrying capacity by 770,000 barrels, or 22% of our capacity of 3.5 million barrels at June 30, 2007
K-Sea Transportation Partners has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan
According to a report from Reuters, Seoul shares edged up in volatile trade on March 8 lifted by shipbuilders and financials, but memory chip manufacturers like Samsung Electronics (005930.KS) and steelmakers underperformed. (Source: Reuters)
The first of five specialist subsea application seminars organized by Kongsberg Maritime’s subsea department starts February 28, 2013 in Copenhagen, Denmark. The free one-day seminars have been developed to enable users of Kongsberg Maritime hydroacoustic systems to speak with the experts and learn how to get the most from these state-of-the art tools. Kongsberg Maritime invites existing customers and those interested in utilizing its survey
K-Sea Transportation Partners L.P. has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan
Moody's Investors Service said it has affirmed K-Sea Transportation Partners LP's non-investment grade debt ratings, which were under review for possible downgrade after a $205 million acquisition, according to a report on http://money.cnn.com. K-Sea shares jumped $2.10, or 5.9 percent, to $37.58 in afternoon trading. The stock has traded between $33.90 and $48.50 during the past 52 weeks. Moody's affirmed K-Sea's "B1" corporate family rating and "SGL-3" speculative grade liquidity rating
The Senate Commerce, Science, and Transportation Committee approved legislation sponsored by Sen. Frank R. Lautenberg (D-NJ) to reduce congestion on the nation’s roads by encouraging freight to be carried by ships. The measure would create a grant program for America’s Marine Highways to encourage shipping by sea or inland waterway and establish a new program to modernize port facilities to make efficiently transport freight
(East Brunswick, NJ) K-Sea Transportation Partners L.P. announced today that it has successfully completed the ABS HSQE certification process for all of its locations and operating divisions. K-Sea is the first U.S. flag tug and barge operator to achieve ABS HSQE certification, according to ABS. The company's management system meets the standards of the ISM Code, ISO 9001, ISO 14001 and OHSAS 18001. In addition, K-Sea continues to maintain its AWO Responsible Carrier Program certification
Bouchard Transportation Co., Inc., an independently-owned oceangoing petroleum barge company, received the 2014 AMS Tug & Barge Safety Award from the American Maritime Safety, Inc. (AMS) on Thursday, October 23. The award, accepted by Morty Bouchard IV
Naviera Integral of Mexico is the launching customer of Damen’s new Sea Axe Fast Crew Supply vessel, the FCS 4008. President of Naviera Integral, Juan Pablo Vega, signed the order for the two new vessels at an official ceremony at the Offshore Energy Exhibition in Amsterdam
Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30
On Wednesday, October 29, Congressman Elijah E. Cummings (D-MD) delivered keynote remarks at APL Maritime’s Senior Management Conference, and received an award recognizing his service to the maritime industry. “The U.S. flagged oceangoing fleet is vital to our nation’s security
A paper published this week in Environmental Research Letters by NOC scientist Dr. Svetlana Jevrejeva provides new information about the probability of a sea-level rise reaching of 180cm by 2100. In this study Dr. Jevrejeva and colleagues explore the range of possible sea level rise by 2100
Chairman Mario Cordero announced that the Federal Maritime Commission has completed compromise agreements recovering a total of $503,000 in civil penalties. The agreements were reached with five non-vessel-operating common carriers (NVOCCs)
The CMA CGM Group announced the maiden voyage of the CMA CGM Elbe on October, 14, 2014 in Dalian (China). The CMA CGM Elbe (9400 TEUs) is the second of a series of 28 vessels from 9,400 TEUs to 10,900 TEUs, vessels which will be delivered from now to the third quarter of 2016
The Bouchard Transportation Company, Inc. and the State University of New York Maritime College (SUNY Maritime) today held a ribbon-cutting ceremony to celebrate the official opening of the Bouchard Tug & Barge Simulation Center. The Bouchard Tug & Barge Simulation Center is a training
SEPTEMBER 15, 2014, New York, NY – Today in New York Morton S. Bouchard, III and many local maritime dignitaries officially opened The Bouchard Transportation Co., Inc. Tug & Barge Simulation Center on the campus of the State University of New York (SUNY) Maritime College.
The Coast Guard Captain of the Port reopened Port Allen in Kauai Monday morning after surveying crews deemed it safe for transit. The maritime public is advised to be vigilant when entering ports and harbors and to cooperate with the direction of the Coast Guard and local harbor masters
German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered two significant vessels from World War II’s Battle of the Atlantic. The German U-boat 576 and the freighter Bluefields were
FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.1 million gigajoules of liquefied natural gas (LNG) to storage and 34,000 gigajoules per day of liquefaction capacity
The wreck of a World War Two German U-boat and a freighter that sank 72 years ago have been discovered off the North Carolina coast by U.S. researchers, officials said. The submarine, the U-576, and the Nicaraguan-flagged freighter Bluefields were found about 30 miles (48 km) off Cape Hatteras
Iridium Communications Inc. announced an agreement with Trimble that expands the company's use of satellite communications in its core Transportation and Logistics (T&L) solutions beyond the North American market. Under the agreement, Iridium will provide satellite Machine-to-Machine (M2M)
U.S. Coast Guard personnel and Canadian federal agencies, including the Canadian coast guard, Transport Canada and Environment Canada, are monitoring a 134-foot barge drifting in the Beaufort Sea after it broke free from its tow in Canadian waters during a severe storm Monday.