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MORGAN MARINE

Vessels: GCI Completes Sun Towing Tugs

Voyager and Quest could not be two more apt names for Sun Towings pair of new tugboats, as it was precisely this that was required to complete the vessel's construction. The two hulls were started nearly 10 years ago, and had more than 2,000 miles experience before the first main engines were installed. The hulls were originally built by Marine Power and Equipment in Seattle in 1990, and moved three different times, from Washington State through the Panama Canal to Texas, then finally to Louisiana. The odyssey of the hulls was well worth it, however, according to their owner, Captain Mike Smith of Sun Towing, Morgan City, La. The 150 x 40 x 19.5 ft. hulls finally made their way to Gulf Coast Industries (GCI), a yard owned by Garrel Chiasson and Randy Joubert II, in Amelia, La., where they were to be completed. Now finished, the vessels' respective journeys have come full circle, as they have returned to Washington state and have been placed on long term charter from Sun Towing by Foss Maritime. Captain Sam Smith saw the potential of the hulls and purchased them three years ago, and then sold them to his son, Captain Mike Smith. Captain Mike decided to use local companies as much as possible to complete the vessels, and contracted with Gulf Coast Industries to complete the steel work of the hulls, install all of the equipment, complete the piping systems, and install the SOLAS approved joiner work package.


Omega Morgan Names McCalla CEO/President

John McCalla CEO / President

Omega Morgan, one of the West Coast’s leading heavy equipment transport companies, has named John McCalla CEO/President. McCalla comes to Omega Morgan from Warn Industries, also located in Portland.   McCalla began his career as a project engineer at General Motors and then joined Warn Industries.  He advanced through several positions at Warn and assumed the top executive leadership position in 2007


Daewoo Shipbuilding for Sale?

South Korea intends to sell a controlling stake in Daewoo Shipbuilding and Marine Engineering, currently valued at 2.5 billion, in the second half of 2006, according to a Reuters report. State-run Korea Development Bank (KDB) and government restructuring agency KAMCO own a combined 50.6 percent stake in the world's second-biggest shipbuilder. KDB, which is managing the sale on behalf of other creditors, has recently named JP Morgan as a lead manager for the deal.


'Ghost Busters' Investigate Historic Ship

Specialists in paranormal research are investigating whether a historic whaling ship might be home to the ghost of a long-ago seafarer, according to an Associated Press report. AP reported that a five-member team from the Rhode Island Paranormal Research group visited Mystic Seaport last week to spend time on the Charles W. Morgan, a wooden whaling ship where several visitors have reported seeing the apparition. According to information on www.mysticseaport.com, The Charles W


Conrad Adds to Management Team

Conrad Industries, Inc. announced today the appointment of Terry T. Frickey as Vice President and Chief Operating Officer, effective immediately. Terry will report to the Chief Executive Officer and have overall responsibility for the operations of the Company’s four shipyards. “We are excited to have Terry join our executive team,” said Johnny Conrad, Conrad’s President and Chief Executive Officer. “Terry has been involved in the shipyard business since


Soles Joins Glosten Associates

Peter Soles

Peter Soles has joined The Glosten Associates as a Marine Consultant and will be supporting the firm’s ocean engineering and marine logistics projects.  “Peter brings a broad knowledge of marine transportation policy, oceangoing vessel management and operation, voyage and cargo logistics, navigation, and tug/towing operations,” said Justin Morgan, PE, Glosten Principal. Prior to joining Glosten


Marine Joiner Contractors

Mark A. Robicheaux, Inc., Marine Joiner Contractors, located in Morgan City, La., provides custom marine joiner services. Two companies have been added to the service family to provide more complete and controlled joiner packages. Robicheaux Manufacturing offers custom/modular yacht and plastic laminate marine furniture and millwork, and Robicheaux Insulation Systems provides insulation installations for the marine, industrial and offshore industries.


J. Ray Morgan City Facility Awarded Contract

J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of McDermott International Inc. ("McDermott"), announced that its Morgan City, Louisiana fabrication facility has been awarded a contract for the construction of flues, ducts and reactor panels by The Babcock & Wilcox Company ("B&W"), also a McDermott subsidiary. The contract is in support of B&W's Kansas City Power & Light LaCygne #1 SCR project and is valued at approximately $4 million


Rates Slashed On Five European Oil Giants

Morgan Stanley said on Wednesday it had cut ratings and price targets on five European oil service companies on fears the sector was not immune to a possible U.S. recession and global slowdown. Analysts at the investment bank cut their rating on Expro to "neutral" from "strong buy", on Coflexip and Stolt Offshore to "neutral" from "outperform" and on Bouygues Offshore to "outperform" from "strong buy". They cut their price target on Geophysique by 20 percent to 80 euros from 100


MARMAC 302 Launched

MARMAC 302 #3 rev1.jpg

McDonough Marine Service announced the launching of the MARMAC 302, the first of two new 300’ x 100’ x 20' ABS Class ocean going barges commissioned by the barge and marine transportation company.    The barges were designed by Dan Jones & Associates with an ABS Load line maximum cargo capacity of 13,200 short tons at 15.7’ draft. The uniform deck strength of 4,500 lbs/sq. ft., combined with a increased side shell strength


NAO Exercises Option to Purchase Shares

Nordic American Offshore Ltd. (NAO) announced that the underwriters of the company's initial public offering, which closed on June 17, 2014, have exercised in full their option to purchase an additional 882,352 common shares. The sale of these common shares isexpected to close on June 26, 2014


Directorate Changes At Sound Oil

Courtesy Sound Oil

  Sound Oil, the Mediterranean focused upstream oil and gas company, announced that the Board of Directors has decided to implement certain changes to reflect recent progress and developments.   Sound Oil's current Chairman, Andrew Hockey


Historic Great Lakes Shipwreck Possibly Discovered

Main: diver uses Diver Mag on reef. Top: diver searches with PT-1. Bottom: Le Griffon.

Steven Libert, president of the Great Lakes Exploration Group, announced he has located what is believed to be the remains of Le Griffon, the first European ship to have sailed the upper Great Lakes. The 45-ton barque carrying seven cannons was built by the legendary French explorer


U.S. Navy: Marine Mammal Project Breaks New Ground

Dolphins jump out of the water near the Military Sealift Command dry cargo and ammunition ship USNS Alan Shepard (T-AKE-3) during an underway replenishment with the guided-missile destroyer USS Stockdale (DDG 106), not pictured. (U.S. Navy photo by Mass Communication Specialist 2nd Class David Hooper/Released)

The U.S. Navy said that a newly released scientific report demonstrates the viability of a new method to estimate received sound levels during real scenarios and analyzes movements of satellite-tagged individuals of three species of marine mammals exposed to Navy mid-frequency active sonar around


Repsol To Sell Argentine Bonds To JP Morgan

  Spanish oil major Repsol said on Tuesday it had agreed the sale of Argentine bonds to JP Morgan for $2.01 billion, the company's second sale of Argentine paper to the U.S investment bank in less than a week. The bonds were part of a $5 billion settlement with Argentina after the


Citi Builds Commodity Trade Finance as Others Retreat

Citigroup plans to double its commodities trade finance team within the next three years as it seeks to benefit from a retreat by some rival banks, the head of the business said. Citigroup is one of the biggest players in trade finance but has been relatively small in the specific area of


XANTREX Powers Restored 1841 Whaling Ship

When the 172-year old tall ship Charles W. Morgan sets out on its historic 38th voyage on June 14, it will benefit from safety enhancements that were unheard of at the time of its construction – including a pair of Xantrex Freedom SW 24V - 3000W/75A inverter/chargers that deliver a full 6


Enterprise To Build Ethane Export Terminal On Houston Channel

Port of Houston

  Enterprise Products Partners will build an ethane export facility on the Houston Ship Channel, signing a long-term agreement with the Port of Houston Authority for use of its facilities adjacent to Enterprise's existing terminal at Morgan's Point.


Nordic American Offshore Prices IPO

File photo

Nordic American Offshore Ltd. says it has priced its initial public offering of 5,882,352 common shares at $16.00 per share.  The Company adds that it has granted the underwriters a 30-day option to purchase up to 882,352 additional common shares to cover over-allotments.


DP World to Price US$1-Bln Convertible Bond Issue

DP World Jebel Ali: Photo DP World

Dubai's DP World plans to raise $1 billion with a convertible bond issue of 10 years duration on Thursday to fund growth opportunities and diversify its funding sources, the Dubai-based ports operator said in a statement. The issue is a rare example of an international convertible bond from a


Aker Solutions Appoints Head of Industry & Investor Relations

Aker Solutions says it has recruited David Phillips from HSBC Global Equity Research as head of industry and investor relations. He will start on June 17, 2014. Phillips, 43, served as global co-head of oil and gas research and managing director at HSBC since mid-2011 after joining the bank as


NASSCO to Build Additional Tanker for APT

General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (GD), has entered into a contract with an affiliate of American Petroleum Tankers (APT), a wholly owned subsidiary of Kinder Morgan Energy Partners, L.P. (KMP), for the design and construction of an additional 50


USS AOTOS 2014 Award Winners Named

USS AOTOS logo

The United Seamen's Service (USS) informs that 2014 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Stephen Cotton, General Secretary of the International Transport Workers' Federation (ITF); Joseph J. Cox, President/CEO, Chamber of Shipping of America; and Frederick J


Gazprom GDRs Listed On Singapore Exchange

At official ceremony dedicated to Gazprom’s inclusion in Singapore Exchange listings

Today Gazprom's unrestricted American Depositary Shares (the Global Depositary Receipts or the GDRs) were granted an introductory listing and included in the quotation list of the Singapore Exchange. The listing of Gazprom's GDRs on the Singapore Exchange is a significant result of the


SafeBulkers Price Public Offering

Bulk carrier: Photo SafeBulkers

Greece's Safe Bulkers, Inc. has set the price of its public offering offering of shares. The Company says it plans to use the net proceeds of the public offering to fund its newbuilding program and for other general corporate purposes, which may include repayment of indebtedness.






 
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