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.
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand? Is ownership of the vessel through a loan structure
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
The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. The FSEIS updates the Bureau of Ocean Energy Management’s (BOEM) estimates of the full range of production levels from offshore oil fields that might be developed in the Chukchi Sea as well as the related potential environmental
Alphatron Marine has signed a lease contract with Seacontractors for no less than 11 vessels to provide satellite hardware and data solution packages. Alphatron Marine’s VSAT system will be installed alongside the existing IT infrastructure on nine Seacontractors B-Class workboats and two A-Class workboats, consisting of Anchor Handling Tug Supply (AHTS) and Multicats, mainly operating in Western Europe and the Middle East.
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
As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Bureau of Ocean Energy Management (BOEM) today announced it completed an important environmental review, allowing BOEM to move forward with its process for considering a renewable energy lease sale offshore North Carolina. BOEM’s revised environmental assessment (EA)
The Northern Territory (NT) Government in Australia announced the successful bidder for the Port of Darwin – Landbridge Group, based in the People’s Republic of China. Chinese privately owned energy and infrastructure conglomerate Landbridge Group has won a $A506 million bid to run Australia's Port of Darwin for 99 years, NT's Chief Minister Adam Giles announced. Under the terms of the agreement
Prices for new dry freight containers declined to their lowest point since 2002 during first-quarter 2016 and are still going down, according to the latest edition of the Container Equipment Insight, published by global shipping consultancy Drewry.
Four Damen SPa 1605 ballistic protected security patrol vessels have been delivered to C&I Leasing Plc, a player in the Nigerian offshore support vessel market. The patrol boats, which have already undergone sea-trials, will provide security patrol and escort services for LNG tankers calling
EMR, one of the world’s largest metal recycling companies has made a significant commitment to remaining in its existing Tilbury Dock facility. Not only has it just signed a new 25 year lease with the Port of Tilbury, it will be upgrading its facilities and investing around £3m in
Issues $140 Million of 6.95% Series F Cumulative Convertible Perpetual Preferred Shares, Renews $150 Million Unsecured Revolving Loan and Enters into $250 Million Lease Financing HONG KONG, CHINA--(Marketwired - May 18, 2016) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced
The Bureau of Ocean Energy Management’s (BOEM) Final Rule for Leasing of Oil and Gas or Sulfur in the Outer Continental Shelf (OCS) will be published in the Federal Register on March 30, 2016. The final rule updates and streamlines the existing OCS leasing regulations
The Bureau of Ocean Energy Management (BOEM) is holding meetings to seek public input on the Draft Programmatic Environmental Impact Statement that analyzes potential impacts of oil and gas activities that could result from lease sales scheduled in the 2017-2022 Five Year Program for Outer
Reftrade has secured a $2.8 million contract with international shipping and delivery company Chronopost International, to install refrigerated cold rooms on multiple platforms and distribution hubs throughout France. Reftrade’s French division
The Northwest Seaport Alliance, a marine cargo operating partnership of the ports of Seattle and Tacoma, announced that its managing members have approved $141 million worth of construction and cranes to dock two of the largest containerships simultaneously at Husky Terminal in the South Harbor.
Ports America is continuing its business growth strategy to increase its West Coast presence through additional investments, services and expansion of its terminal capacity. The latest transaction includes a significant expansion and 20-year lease extension of the Husky Terminal in Tacoma, Wash
Port of Portland approves 14-acre PDX Logistics Center Phase III lease with Capstone Partners The Port of Portland Commission today approved a 14-acre, 50-year lease with locally based Capstone Partners and its investment partner PCCP, LLC to develop Phase III of the PDX Logistics Center
China’s biggest private shipbuilder Yangzijiang Shipbuilding Holdings Ltd has won orders for six dry bulk carriers worth a combined US$510 million. The 400,000 DWT very large ore carriers (VLOCs) are the largest dry bulk carriers ever awarded to the group
The Bureau of Ocean Energy Management (BOEM) has signed an agreement with the City of Jacksonville, Fla., and the U.S. Army Corps of Engineers authorizing them to dredge nearly 1.4 million cubic yards of sand from federal waters for periodic renourishment of the Duval County shoreline
Cosco Pacific Ltd.'s first-quarter ended 31 March 2016 net profit rose 31.4% from a year earlier on the back of a one-off gain. Turnover sank 2.27% yearly to US$129 million. On yearly basis, its net profit shot up 105 per cent to US$702
St. Louis-based Byrne & Jones Construction informs it has acquired Midwest Foundation, a Peoria, Ill. marine construction services company. Midwest Foundation installs piling foundations and serves the bridge construction industry including demolition, construction and repair
State-backed shipbuilder CSBC Corporation, Taiwan has launched two domestically developed and constructed vessels in the southern Taiwan port city of Kaohsiung, reports Taiwan Today. YM Window and YM Width are 368 meters long, 51 meters wide and can carry 14,198