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Osprey Maritime Gets Extension

Oil and gas shipping firm Osprey Maritime's bankers have agreed to an extension through the third quarter of 2002 of $362 million in short term loans. The facilities were originally repayable on July 20, 1999. The outlook for Osprey, which has a total debt of $813.7 million as of June 30, 1999, hinged on the outcome of its talks with bankers to extend its short term loans. The debt was incurred following its multi-million acquisition of Gotass Larsen Shipping Corp in 1997.


Kidnapped Bourbon Crew Released

Bourbon announces that its 10 crew members kidnapped in Cameroon on 31st October on board the Bourbon Sagitta were released on Nov. 11. They are now safe in Yaoundé. After medical check-ups, all of them appear to be in good health. Bourbon wishes to thank everyone who has contributed to the successful outcome of this affair for their support and efforts, and in particular the local Cameroonian authorities, as well as the French Ministry for Foreign and European Affairs.


BP-Amoco and ARCO in $26.8 Billion Deal

BP Amoco confirmed, following a successful outcome to talks between the two companies, it has reached agreement to combine with the Atlantic Richfield Company (ARCO) of Los Angeles. The all-share transaction, approved by the boards of both companies, will involve the exchange of 0.82 BP Amoco American Depositary Shares (ADS) for each ARCO share. The deal will substantially boost BP Amoco's reserves and production, giving it the largest oil output of any non-state company


Repairs Complete on Damaged Akaylar II

The Turkey-flag container ship Akaylar II has left Desan Shipyard, Tuzla, Turkey, after repairs were completed on the collision damaged vessel, Reuters reported. Akaylar II was towed to Tuzla from Buyukdere, where it had initially been towed following a collision around the entrance to the Bosphorus straits. The 4,263-dwt Akaylar II was leaving the straits for the Black Sea when it was involved in a collision with the southbound 8,971-dwt Cambodia-flag Med Glory, which was badly damaged.


Navios Apollon Released from Captivity

Navios Maritime Partners L.P. announced that the Navios Apollon and her crew were released on Feb. 27 2010. Navios Partners reported that the Captain and crew are healthy and will be reunited with their families shortly. Navios Partners thanks the Captain, the crew and their families for their fortitude through this trying ordeal. Many assisted the company in achieving this outcome. Navios wanted to recognize the special efforts of the Chinese Embassy in Greece, and the Ambassador personally


Safe Bulkers Time Charter for Panamax Vessel

Safe Bulkers, Inc. (NYSE: SB) announced that it has entered into a new period time charter for the Maria, a 76,000 dwt Panamax class vessel, for a duration of 34 months to 36 months, with a forward delivery date in second quarter of 2011, at a gross daily charter rate of $20,250, less 3.5% total commissions. Dr. Loukas Barmparis, President of the company, said: “The new three-year time charter, which has a higher rate compared to the vessel’s current rate


EDHEC-Risk Institute Welcomes Eight New Members

EDHEC-Risk Institute announced that eight new members have joined its international advisory board, which brings together scholars, representatives of regulatory bodies as well as senior executives from business partners and other institutions. The role of the international advisory board is to validate the relevance and goals of the research program proposals presented by the institute’s management and to evaluate research outcomes with respect to their potential impact on industry


Navy Cuts One Littoral Combat Ship in 2015

 U.S. Navy Aims To Smooth Impact Of Fiscal 2015 Cut To Ship Orders   Add to Collection(Oil)|Print Download:Plain TextXMLAll         WASHINGTON, April 10 (Reuters) - The U.S. Navy hopes to smooth out the impact on Lockheed Martin Corp and Australia's Austal of a budget-driven decision to order three Littoral Combat Ships instead of four in fiscal year 2015, the Navy's top weapons buyer said on Thursday.  


Funding To Skill Australia’s Defence Industry

Minister for Defence, Senator David Johnston.

  The latest round of funding under the Skilling Australia’s Defence Industry (SADI) initiative was announced today by Minister for Defence, Senator David Johnston. Senator Johnston said more than $5 million in funding would be made available to industry in the 2014-15 financial year under round one of the SADI program to boost the skills of workers in the defence industry sector. “The SADI program continues to boost Australia’s defence industry skills base by


RCCNZ Praised for Missing Schooner Search Effort

Lost schooner Nina: Image courtesy of Maritime NZ

The search for the missing schooner 'Nina' by the Rescue Coordination Centre New Zealand (RCCNZ) in June-July 2013 went beyond what many overseas authorities would have conducted, an independent reviewer has found. RCCNZ explain that David Baird, former General Manager of the Australian Maritime Safety Authority’s Emergency Response Division, conducted the independent review at the request of Maritime New Zealand Director Keith Manch.


Neil Mackintosh apponted President of INTECSEA

  WorleyParsons announced the appointment of Neil Mackintosh as INTECSEA president, following the retirement of Uri Nooteboom. Mackintosh will join INTECSEA on July 8, 2014 and be based in Houston, Texas. Departing president Uri Nooteboom will assist Mackintosh with his transition until


Winch Safety through Standardization

pg50 images.jpg

Celebrating the 10,000th YoYo Winch For decades, barge owners and operators had no reason to think twice about their rigging. There were only a few choices when it came to winches, and there were ratchets as well. Because of the simplicity of these machines


Arctic Marine Oil Pollution Prevention: Task Force Meets

Arctic drilling platform: File photo

When the Arctic Council’s Task Force on Arctic Marine Oil Pollution Prevention (TFOPP) met recently in Ottawa, it says it took important steps towards developing the Action Plan for oil pollution prevention mandated by Ministers in Kiruna


Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Image

  Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA, France for the conversion of Two FPSOs for the Kaombo Project in Offshore Angola.  


Australia Aims to Avert Port Strike

Teekay Shipping took part in Australian government-sponsored mediation talks on Tuesday to avert industrial action by tugboat operators that could halt a quarter of global seaborne iron ore exports. There were no immediate comments on any outcome from the talks


Gazprom Sinks on China Blow, But Russian Stocks Rally

Gazprom HQ. Photo: Gazprom

Russian stock indexes continued to rally on Tuesday, boosted by expectations that Russia will not intervene in Ukraine's political crisis while shrugging off negative news on the progress of gas talks between Russia and China. The latter, however, hit Russia's leading gas producer Gazprom


Spain's King Awards SENER Founder

Photo: SENER

Enrique de Sendagorta Aramburu, Honorary President and founder of the engineering and technology group SENER and President of the SENER Foundation, was presented with the Kingdom of Spain Entrepreneurial Career Award by King Juan Carlos I on Wednesday, June 4


New Standard Defers Western Australian Exploration Program

New Standard Energy Limited (New Standard) advises that the Southern Canning Joint Venture (SCJV) has agreed to delay drilling of the Brooke North-1 well until late 2015. In line with this the Company plans to defer all of its Canning and Carnarvon Basin drilling activity until 2015.


Carnival Donates $2.5m to Nature Conservancy

Photo courtesy of The Nature Conservancy

To Celebrate World Oceans Day, World's Largest Cruise Company Announces Gift to Support Ecologically Important Lands and Waters.   To help celebrate World Environment Day today and in advance of World Oceans Day on June 8, Carnival Foundation in partnership with Carnival Corporation &


Seaspan Signs MOAs With Guild & ILWU, Strike Averted

Chief Executive Officer Seaspan -

  North Vancouver, BC — Jonathan Whitworth, Seaspan CEO, announced today that it has signed agreements with both the Canadian Merchant Service Guild (the Guild) and International Longshore Warehouse Union (ILWU) Local 400 to enter into binding arbitration/mediation.


New Zealand Mulls Ocean Floor Mining Proposal

Ocean Floor: Image credit Pixabay CCL

New Zealand decides this week whether to approve an underwater iron-ore operation that would likely become the world's first commercial metals mine at the bottom of the sea. A green light to allow New Zealand's Trans Tasman Resources Ltd to start iron-ore dredging off the country's west coast


Ingalls Shipbuilding Named Platinum Fit-Friendly Worksite

Physically fit worker: File image

Ingalls Shipbuilding, a division of Huntington Ingalls Industries, says it is doing its part to fight obesity and bolster the health of its employees. The shipyard's health-conscious changes have helped it succeed as a Platinum Fit-Friendly Worksite.


Concordia Wreck Preparing for Tow to Genoa

In three weeks, the Costa Concordia wreck will be towed to Genoa for demolition and recycling. (Photo courtesy of the Parbuckling Project)

In three weeks, the Costa Concordia wreck will be towed to Genoa for demolition and recycling. At the end of the Conferenza dei Servizi meeting held yesterday, June 25, in Rome, Costa Crociere reaffirmed the motivations for the choice of the transportation of the Concordia wreck in Genoa for


New Zealand to Review Coastal Navigation Safety

Maritime New Zealand (MNZ) announced it is undertaking a review of coastal navigation safety to identify risks and assess current and potential safety measures. MNZ Director Keith Manch said the review, which begins July 2014, is part of a focus on developing an intelligence-led


Congress Gets It Done with WRRDA

Michael J. Toohey, President and CEO, Waterways Council, Inc.

On May 22, the Water Resources Reform Development Act (WRRDA) of 2014, containing major recommendations of the Capital Development Plan (CDP), was passed by a vote 91-7 in the Senate.  As MarineNews was going to press, President Obama finally signed the bill into law






 
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