Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding frequency by at least 30%. Grounding is the third most frequent accident involving ships larger than 100GT and the fourth highest contributor to marine fatalities at 12%. Offering a leasing option is crucial to give shipowners the opportunity to increase safety and limit risk immediately. Early adopters also benefit from crew having longer to become accustomed to using ECDIS, allowing them to become competent and confident without the pressure of IMO’s deadline.” Martek believes early ECDIS adoption also offers savings in time and cost over paper charts, eliminating the logistical challenge of having paper charts delivered to ships and the time required to manually update them. Furthermore, route planning using current weather and tidal data can cut transit times and save fuel. They said, shipowners who lease, rather than buy, benefit from their ships always having the most advanced ECDIS systems as the difference between a two and five year old system can be significant due to technological developments.
Radix Marine, Inc, a marine vessel development company specializing in homeland defense initiatives, announced today that it has entered into an agreement to acquire, through an Equipment Lease and Purchase Agreement, the GB Challenger Class Craft, the working prototype of the company's high-speed unmanned patrol watercraft. Radix Marine will own the GB Challenger outright at the conclusion of the five-year lease with Blue Ribbon Leasing and Financial, Inc
As part of the Obama Administration's Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Bureau of Ocean Energy Management (BOEM) announced today that it is seeking public comment as it prepares an Environmental Assessment (EA) to analyze potential impacts from proposed wind energy research activities offshore Virginia. The Virginia Department of Mines
Washington, D.C.– The National Ocean Industries Association (NOIA) appreciates that the Draft Programmatic Environmental Impact Statement (DPEIS) for the Mid- and South Atlantic G&G Activities announced by the Department of the Interior is an important first step toward potential energy exploration and development in the Atlantic Outer Continental Shelf (OCS). “Since the areas have been largely unexplored for over two decades, due to executive and Congressional bans
China Shipping Development Co Ltd said on Friday that it would lease seven vessels for one-year for a total of US$11.57 million. China Shipping would lease a chartered oil tanker from Shanghai Shipping for $3.2 million, and six dry bulk cargo vessels for US$8.3 million from Southern Shipping, a company statement said.
BOEM Will Hold Public Hearing in New Orleans on Proposed Oil and Gas Leasing Program. The Bureau of Ocean Energy Management (BOEM) will hold a public hearing in New Orleans on Jan. 11, 2012, to provide an opportunity for the public to comment on the Draft Environmental Impact Statement (DEIS) for the Proposed Outer Continental Shelf (OCS) oil and gas lease sales offshore Texas, Louisiana, Mississippi and Alabama
As part of President Obama’s comprehensive plan to move our economy toward domestic clean energy sources and cut carbon pollution, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau has held the nation’s first-ever competitive lease sale for renewable energy in federal waters. The provisional winner of the lease sale, which auctioned two leases for a Wind Energy Area of 164
The Conferees on the Defense Authorization Bill, S.1059, for fiscal year 2000 wrapped up their conference after providing "Extended Lease" authority of 20 years or more to the Secretary of the Navy for the services of non-combatant ships, and rejecting an attempt by Senator John McCain (R-AZ) to repeal the three-year waiting period before foreign-built ships are eligible to carry preference cargo. The House Armed Services Committee has been working for three years to provide the Secretary of
In the August 9, 2002, Federal Register, the Coast Guard publishes a Supplemental Notice of Proposed Rulemaking to solicit further comment on its previous NPRM entitled, "Vessel Documentation: Lease-Financing for Vessels Engaged in the Coastwise Trade." The regulations implement a 1996 federal law codified at 46 U.S.C. 12106(e), which was designed to enlarge vessel financing sources by allowing lease financing to be offered by companies which are less than 75% U.S.-owned
Obama Administration Announces Proposed Central Gulf of Mexico Oil and Gas Lease Sale; sale Will Make Nearly 38 million Acres Available as Part of the President’s Blueprint for a Secure Energy Future. The Obama administration has announced that the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) will hold the consolidated Central Gulf of Mexico Lease Sale 216/222 in New Orleans on June 20, 2012
Congressman Frank Pallone has issued the following statement in response to the Department of the Interior’s announcement of the proposed lease sale for nearly 344,000 acres off of the New Jersey coast for commercial wind energy development
ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014. The contract values $1.08bn and eventually serves for Petrobras
The Obama administration on Friday approved a plan that would allow companies to assess oil resources off the Atlantic Coast, angering environmental groups that worried the plan will harm marine life and open the door to offshore drilling.
China and Brazil sealed their expanding commercial partnership on Thursday with a $5 billion credit line for Brazilian miner Vale and the purchase of 60 passenger jets from Brazilian planemaker Embraer. In a raft of energy, finance and industry accords signed before presidents Xi Jinping and
Ezra informs that it has sustained another quarter of growing revenues and improving operating performance with fiscal 9M 2014 revenues crossing the US$1 billion mark. Highlights Gross profit up 73% to US$163.6 million in 9M14 on strong contribution from Subsea Services division
A Netherlands-based subsidiary of Brazilian tycoon Eike Batista's bankrupt shipbuilding and shipleasing unit OSX Brasil SA suspended payments to creditors after being granted protection by a Dutch court. According to a securities filing on Thursday
Profit at Petrobras, Brazil's state-led oil company, could be reduced by $15 billion between 2014 and 2018 if it had to suspend oil platform contracts with Holland's SBM Offshore NV, the company said in a securities filing. The potential reduction in profit is based on an estimate of the amount
Brazil's MMX said late Wednesday it approved the lease and possible sale of its Corumba, high-grade iron ore unit, part of efforts to raise cash and restructure the troubled mining company controlled by Brazilian tycoon Eike Batista. The Rio de Janeiro-based company
FPSOs play a key role in deepwater oil and gas production. A 'DW Monday' analysis of FPSO projects found cost overruns of nearly 40% and average project delays exceeding one year for some. In response to this DW recently brought together 20 companies from across the FPSO supply chain in a round
A recent WSJ article and BIS permits raise questions and highlight the debate as to what constitutes processing, or refining, or manufacturing, which would make certain hydrocarbon streams to be eligible for export. Poten & Partners explore further in their latest 'Poten Tanker Opinion' as
Drydocks World, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, announced that it will sign an Agreement with Kleindienst Group to provide a complete range of offshore marine and operational management solutions for their The Heart of
Today, the House passed H.R. 4899, The Lowering Gasoline Prices to Fuel an America that Works Act by a vote of 229-185. If enacted the bill would expedite oil and gas leasing on federal lands, open new offshore drilling areas and expand drilling in Alaska’s National Petroleum Reserve.
Currently, 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 76% of systems on order. Production semis, barges, spars and TLPs comprise the balance
Nautilus Holdings Ltd, a Bermuda-chartered company that leases containerships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S
Three things: experience, experience, and … experience. It’s a very familiar scenario: And, if you are the CFO, controller, president or other financial manager of your company then you have been here before. Across your conference table sits a potential new lender