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MARINE LEASING

Martek Offers ECDIS Leasing Package

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.


How Specialty Lenders Can Propel Marine Operators

Eric Dusch

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 to Acquire Patrol Craft Prototype

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


BOEM Seeks Comment on Proposed Energy Research

boem.png

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


DOI Issues FSEIS for Chukchi Sea Lease Sale

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 VSAT Systems for 11 Workboats

Photo courtesy of Alphatron Marine

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.  


Naval shipbuilding gets booster shot in legislative chambers

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


Coast Guard Publishes Supplemental NPRM

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


Mitcham Industries 4Q & Year-End Results

Mitcham Industries, Inc. (NASDAQ:MIND) announced financial results for its fiscal 2009 fourth quarter and year ended January 31, 2009. The company reported total revenues of $16.2m for the fourth quarter of fiscal 2009 compared to $20.8m in the fourth quarter of fiscal 2008. Net income for the fourth quarter of fiscal 2009 was $421,000, or $0.04 per diluted share, compared to net income of $3.3m, or $0.32 per diluted share, for the fourth quarter of fiscal 2008


NOIA Supports DOI’s Mid- and South Atlantic G&G Impact Statement

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


Virginia Port Deploys Hybrid Shuttle Carriers

Kalmar hybrid shuttle carrier at The Port of Virginia, VIG

  Kalmar, part of Cargotec, has delivered the three hybrid shuttle carriers ordered by The Port of Virginia in late 2014, to Virginia International Gateway terminal (VIG) in Portsmouth, Virginia, USA. The environmentally advanced units have been in action in VIG since last week.  


Cosco Pacific Profits up 12%

Photo: COSCO Pacific Ltd

 Major terminal operator Cosco Pacific has reported a 12% on-year increase in net profits for the first half of this year to nearly $164.4m on good cost control and optimisation of management efficiency.   However the revenue of the port and box leasing unit of Chinese state


APM Terminals Pipavav Starts New Ro/Ro Service

APM Terminals Pipavav handles RORO vessel

  With 1,300 new Indian-built Ford automobiles loaded onto the Grand Dahlia on August 27th for delivery to Mexico, a new era for the Indian auto industry and Gujarat Port Pipavav commenced. The 59,217 gross ton roll on/roll off (Ro/Ro) vessel was the first to call Western India’s


Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash in six years by holding onto more barrels or making blends that can be sold for premiums.


DP World Sings Melbourne Port Lease Deal

Photo: Port of Melbourne Corporation

 DP World and the Port of Melbourne Corporation have reached an agreement on a new 50-year lease, ending months of negotiation over rental increases at Australia’s biggest port.   The Port of Melbourne will forego tens of millions of dollars in annual revenue after abandoning a


Koole Expands Rotterdam Operations

Tank storage Pernis service

Koole Terminals has begun operations at the storage facility for petrol and diesel in Pernis that it recently acquired from BP.   The companies have a long-standing relationship. The newly acquired terminal is adjacent to the existing Koole terminal


GE Inks Turbine Service Deal for Fastest Commercial Ship

Shown is Francisco, the world fastest commercial ship, powered by two GE LM2500 dual fuel marine gas turbines. (Photo: GE)

GE to provide Buquebus with customized service agreement for LM2500 gas turbines that power Francisco, the world’s fastest commercial ship   GE Marine announced it will provide Buquebus, Buenos Aires, Argentina, with a customized service agreement for the two GE LM2500 gas turbines


Brazil Prosecutors: Charges Pending over Ensco Drillship Lease

Brazilian prosecutors plan to file criminal charges stemming from the lease of an Ensco Plc offshore oil-drilling ship to Brazil's state-run oil company Petrobras "in due course," they said.   The plan to prosecute over the Ensco-Petrobras charter was mentioned in a Thursday


Norwegian Cruise Line, Port of Seattle Ink 15-year Lease

Photo: Port of Seattle

Cruise contract is port’s largest ever, cruise line homeports at Seattle's Pier 66 for 15 years   The Port of Seattle signed a 15-year lease with Norwegian Cruise Line Holdings (NCLH) parent company of Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises


BOEM Issues a Notice of Intent to Prepare EIS

As part of its five-year Outer Continental Shelf Oil and Gas Leasing Program: 2012-2017, BOEM informs it intends to prepare a supplemental environmental impact statement (EIS) for this Program's last proposed Outer Continental Shelf (OCS) oil and gas lease sale in the Central Planning Area (CPA)


NOIA Supports DOI’s Upcoming Offshore Lease Sale

National Ocean Industries Association (NOIA) president Randall Luthi today voiced his support for the U.S. Department of Interior’s (DOI) Western Gulf of Mexico Lease Sale scheduled for next week.   “The call to delay next week’s Department of the Interior Western Gulf of


US Gives Shell Final Nod to Drill for Oil in Arctic

Fennica (Photo: Arctia Shipping)

The Obama administration on Monday granted Royal Dutch Shell the final permit to drill for oil and gas in the Arctic for the first time since 2012, a move environmentalists vowed to fight.   The Interior Department gave Shell the final permit to drill into the oil zone in the Chukchi Sea


US to Open Bids for Gulf of Mexico Lease Sale

The U.S. Bureau of Ocean Energy Management (BOEM) said it is set to conduct a Gulf of Mexico Western Planning Area Lease Sale 246 on Wednesday, August 19 at the Mercedes-Benz Superdome in New Orleans. Doors open at 7:30 and bid reading begins at 9 a.m. CDT.   


Record Low Interest in US GoM Leases

A U.S. government sale of oil and gas drilling leases in the western Gulf of Mexico attracted the lowest number of bids on record on Wednesday as slumping oil prices kept producers from plowing money into expensive offshore prospects.  


MARAD Approves Title XI Loan for Gray Offshore

Julius (Photo: Gray Offshore)

A $12 million Title XI loan guarantee supporting the recent construction of three oceangoing deck barges was recently approved by the U.S. Maritime Administration (MARAD).   The three barges, Julius, Cordie and Gwendolyn, were built by Conrad Industries for barge leasing company Gray






 
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