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OCEAN GROUP

Golden Ocean Group Announces Sale

Golden Ocean Group Limited has agreed to sell the vessel M/V Shinyo Brilliance. The vessel is a Panamax bulker and is one of the long-term time charter vessels previously acquired from Louis Dreyfus with an option to purchase attached to the time charter. The vessel will be delivered to the Buyers within the end of December 2007 and the agreed purchase price is $72m net. The strike price for the option is about $20m net and the transaction will thereby free up approximately $52m in cash liquidity.


Golden Ocean Agrees Late Deliveries from Chinese Shipyard

Golden Ocean Group Limited agrees with Zhoushan Jinhaiwan Shipyard Co., on amendment of three shipbuilding contracts The agreement is related to the two Kamsarmax vessels Golden Excellence and Golden Explorer, and the Capesize vessel Golden Nantong. Due to delay in the construction progress the Company has agreed to accept late delivery of the vessels. The contract price for the three vessels in aggregate is now agreed to be USD 86.65 million.


Bocimar Expands Fleet, Buys 3 Ships

CMB confirms that its subsidiary Bocimar International has acquired three capesize newbuilding vessels for a total purchase price of $188 million. The first vessel, SWS 1028 (Shanghai Waigaoqiao Shipyard) - for which Bocimar concluded a three-year time charter contract in April 2005 - is obtained from Teh Hu (Hong Kong). It concerns a 175,000 dwt newbuilding that will be delivered in the third quarter of 2006. The other two vessels, SWS 1048 and SWS 1049, have been bought from


Frontline Predicts Strong 2001

Norway's Frontline, the world's biggest tanker company, reported record net profits for 2000 compared to a 1999 loss and forecast higher earnings for 2001. Net 2000 profits leapt to $313.9 million from a $86.9 million loss in 1999, helped by a strong tanker market and a takeover of U.S. rival Golden Ocean Group. Net operating revenues surged to $599.9 million from $253.2 million in 1999. "For the full year (2001) result the board are cautiously optimistic about the opportunity to improve the


Frontline Acquires Golden Ocean

Norwegian shipping company Frontline has signed an agreement to take over U.S.-based Golden Ocean Group. Frontline has reportedly signed a term sheet with Golden Ocean, under which the parties agreed to propose a joint plan for a financial restructuring of Golden Ocean. Golden Ocean holds interests in 14 VLCCs, three VLCC newbuilding contracts and 10 bulk carriers. The company filed for a Chapter 11 restructuring in the Bankruptcy Court for the District of Delaware on Jan. 14.


Atlantic Marine Sets Up Marine Survey & Consultancy Arm

John Poulson: Photo credit AMA

Atlantic Marine Associates Inc. (AMA) a member of the Eagle Ocean Group appoints John S. Poulson to head the new service. Trading as AMA Consulting Services, the new entity is led by John S. Poulson, latterly president of GL Noble Denton, New York, and a leading expert in the marine engineering, survey, loss prevention and consultancy fields. AMA Consulting Services’ principal activity is carrying out independent surveys, investigations


Harbor Mud An Environmental 'Sleeping Giant'

Mud dredged from the bottom of harbors to keep ship commerce flowing is loaded with contaminants like dioxin and mercury, creating a sleeping giant of an environmental mess in America's oceans and waterways, water protection groups said. Scientists and environmentalists demanded that better government protections be employed to protect human health, fish and ecosystems from toxic harbor mud, and called for an immediate ban on the dumping of contaminated sediments.


GOGL, Knightsbridge Tankers Sells Vessel

Golden Ocean Group Limited advised that the company has entered into an agreement with Knightsbridge Tankers Limited to sell the capesize vessel Golden Zhejiang at a sales price of $65.5m. The vessel will be sold together with the existing four year charter agreement. The completion of the transaction is subject to successful financing and equity offering in Knightsbridge Tankers Limited. The deal is expected to be concluded during Q4 2010


L27/38 Power for Spanish Tugs

Spanish builder Astilleros Armón recently delivered one tug boat powered by two MAN 7L27/38 four-stroke engines and is close to delivering another powered by two similar 9L27/38 engines. The vessels are bound for separate companies of the Italian ‘Ocean Group’. The first project involved the construction of the ‘Neptun’, a Voith-Schneider Tractor Tug constructed at Astilleros Armón Navia in Asturias, Spain as construction C-701


Canada’s Most Powerful Tug Enters Service

Ocean Tundra

On December 13, 2013 the 6,000 kW ASD tug Ocean Tundra was commissioned into service for its Owners, Ocean Group Inc. (Ocean) of Quebec City, Canada. This icebreaking escort tug becomes the most powerful tug in Canadian registry, and heralds a new generation of extremely capable tugs which will provide the highest degree of year-round escort towing capability to Canada’s east coast and the St. Lawrence River and Seaway system.


GLDD, ESG in Steel Cutting Ceremony

GroupESGGLDD.jpg

Eastern Shipbuilding is pleased to announce that on, Monday, September 15, 2014, Great Lakes Dredge & Dock Company, LLC “(Great Lakes”) (NASDAQ: GLDD) and Eastern Shipbuilding Group, Inc. (ESG) cut steel starting the construction of a new Trailing Suction Hopper Dredge ATB . 


K-Line to Plead Guilty to Price Fixing

DOJ.jpg

Kawasaki Kisen Kaisha Ltd. (K-Line), a Japanese corporation, has agreed to plead guilty and to pay a $67.7 million criminal fine for its involvement in a conspiracy to fix prices, allocate customers, and rig bids of international ocean shipping services for roll-on, roll-off cargo


Ocean Installer Awarded New Contract

Normand Clipper

Ocean Installer has been awarded a contract for SURF support work in Brazil for Saipem. The contract which will see the Normand Clipper in Brazil for 8 months is valued at circa USD 50 million, with options to extend. Ocean Installer will support Saipem with their installation of multiple Steel


Schlumberger Releases 2014 Software Platforms

The 2014 platform releases deliver a new user experience for a productivity step change

  Schlumberger has released the 2014 versions of its industry leading software platforms. The Petrel* E&P software platform, Techlog* wellbore software platform, Studio* E&P knowledge environment and Ocean* software development framework enhance multidisciplinary integration


MM&P Hopes to Pad Ranks with Brown Water Mariners

Ron Tucker, Secretary Treasurer of Local 333 and Captain Don Marcus, who serves as President of the Masters Mates & Pilots.

New York Harbor Tug Boat Captains and Crews, Staten Island Ferry Workers, Circle Line and Other Tourist Boat Crews Vote on Joining New Union Uniting with the International Organization of Masters, Mates & Pilots will bring added clout


Phoenix International Awarded US$75-M Subsea Navy Contract

Subsea salvage work: Photo USN SUPSALV

US Department of Defense inform that Phoenix International Holdings Inc., Largo, Maryland, is being awarded a $75,000,000 indefinite-delivery/indefinite-quantity, cost-plus-award fee contract for worldwide undersea deep ocean search and recovery operations and associated services to support


David Palacios is Director of Quality, Environment & Safety, SENER

David Palacios, new Director of Quality, Environment and Safety at SENER

  The engineering and technology group SENER has brought together its Quality, Environment and Safety divisions into one unified Department. The move aims to reorganize the group's standards and procedures, ensure compliance with SENER’s code of conduct


BMW Opens Vehicle Distribution Center at Baltimore Port

BMW Ribon Cutting ceremony

  BMW Group celebrated the official opening of its newest Vehicle Distribution Center at the Port of Baltimore yesterday. The facility will serve 96 dealers within the Central and Eastern regions of BMW’s dealer network. Ludwig Willisch, President and CEO, BMW of North America


XL Group Underwriters at IUMI Conference in Hong Kong

XL Group informs that its leading marine underwriters will join the annual International Union of Marine Insurance (IUMI) conference, the first time to be held in Hong Kong in the organisation’s 140-year history. IUMI is being held in HK from 21-24 September 2014 with the theme 'Building


Biofouling Foiled: UV Light Harnessed for Biofouling Control

(Photo courtesy of Adrian Round, Dir. of Observatory Operations, ONC)

Since the first deployment of in-situ monitoring instrumentation, biofouling has been a problem. Without an effective solution, people have historically had to accept the limits biofouling imposes on ocean sensing work, with significant repercussions


REL to Supply Deep Ocean Mooring Winch System to NOC

Photo courtesy of REL

Romica Engineering Ltd (REL) have signed a contract with the U.K.’s National Oceanography Center (NOC) to provide a containerized deep ocean mooring winch system. This 4,000m capacity winch system, with a hydraulic power unit, will be used at sea for various large mooring operations


Ocean Liner Queen Mary Rings in 80 Years

Queen Mary 2.jpg

Beloved ocean liner Queen Mary turns 80 on September 26, and the public is invited to join a ship-wide celebration. The Queen Mary will open her gangways and ballrooms, decks and salons, attractions and eateries to a daylong celebration. There will be no charge for admission to the ship (10 a.m


Rope & Wires: At the Forefront of Technology

Wire Rope 1 - Photo by Liebherr.jpg

The Teufelberger Group’s global reach, research and development and 220 years of combined experience is helping to change the way the maritime industry looks at ‘rope.’ It hasn’t been too long since industry icon Tom Crowley, Jr


MOL Issues Environmental and Social Report 2014

Environmental and Social Report 2014

  Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the publication of the English version of its Environmental and Social Report 2014, which introduces the MOL Group's perspectives and latest initiatives regarding corporate social responsibility (CSR) and the


Eastern Shipbuilding Start Construction of Dredge Barge ATB for Great Lakes

Group ESGGLDD

  Eastern Shipbuilding is pleased to announce that on, Monday, September 15, 2014, Great Lakes Dredge & Dock Company, LLC  and Eastern Shipbuilding Group, Inc. (ESG) cut steel starting the construction of a new Trailing Suction Hopper Dredge ATB






 
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