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Tidewater Reports 2Q Results

Tidewater Inc. announced second quarter net earnings for the period ended September 30, 2006, of $104.2 million, or $1.86 per common share, on revenues of $274.0 million. For the same quarter last year, net earnings were $82.2 million, or $1.42 per common share, on revenues of $204.4 million. The immediately preceding quarter ended June 30, 2006, had net earnings of $71.4 million, or $1.23 per common share, on revenues of $269.8 million. Included in the current quarter's net earnings is a gain of $28.2 million ($17.2 million after tax, or $0.31 per common share) related to the August 2006 sale of 11 of the company's offshore tug vessels to Crosby Marine Transportation, LLC for a total cash price of $34.8 million. Included in net earnings for the quarter ended September 30, 2005 is a gain of $65.9 million ($42.8 million after tax, or $0.74 per common share) from the sale of six of the company's KMAR 404 class of Anchor Handling Towing Supply vessel to Deep Sea Supply ASA for a total cash purchase price of $188.0 million. Tidewater Inc. owns over 490 vessels, the world's largest fleet of vessels serving the global offshore energy industry.


O&G industry body Decom North Sea acts to try to ease predicted skills shortages

DNS Chief Executive Brian Nixon

Decom North Sea (DNS), the offshore oil & gas decommissioning forum, has commissioned research into the future labour and skills requirements for the growing decommissioning sector to try to alleviate predicted skills shortages in future. With more than £1billion a year of decommissioning expenditure forecast for the UK North Sea by 2015 and only 7% of projects completed to date, DNS will make its findings available to training bodies to help ensure appropriately skilled people


DOT Signs Metlakatla Ferry Contract

The Alaska Marine Highway ushered in a new era in marine transportation for the community of Metlakatla with the signing of a contract to between the Department of Transportation and Conrad Industries of Morgan City, LA to build a new ferry. The new vessel will provide dedicated service between Metlakatla and Ketchikan, two of the Inside Passage’s southernmost communities. Southeast Region Director, Bob Doll , represented the Alaska Department of Transportation & Public Facilities at


Low Emission Ships Aid Statoil

Statoil said savings in acid-rain-causing nitrogen oxide (NOx) from two new low-emitting ships would allow it to meet its NOx emissions reduction targets from one new power station. "We've been given permission to credit these NOx reductions against land-based projects," Knut Barland, vice-president for environment at Statoil said. "And the kind of reduction we'd be getting on these ships would meet the NOx emission reduction target for one of these (planned) power plants."


Maersk Supply Ships Q3 2013 Profits Soar

A Maersk OSV: Image courtesy of Maersk

Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million. The profit for the third quarter of 2013 improved compared to the same period last year primarily due to higher utilization and lower operating costs.


PSV 'Skandi Caledonia' Hire Extended, Rate Increased

Photo courtesy of DOF

Three more years North Sea hire for DOP platform supply vessel 'Skandi Caledonia' Norwegian offshore vessel owner DOF has secured a three-year contract extension with Danish operator Maersk Oil for its platform supply vessel Skandi Caledonia for work in the UK North Sea sector. The three-year option now exercised from October this year replaces an earlier one-year option, with the dayrate for the new period  - which was not disclosed - set to increase 25%.


GAC Russia To Upgrade Facilities At Novorossiysk Port

Logo

  GAC Russia is underlining its commitment to offshore oil & gas exploration and extraction in the Black Sea with a major project to upgrade its facilities at the port of Novorossiysk. The Black Sea is one of the areas in which the development of fields looks set to boom as Russian oil majors are granted licenses and joint ventures are formed with international energy companies to develop blocks. GAC Russia has already signed contracts with one of the key players to provide


NASSCO Awarded T-AKE 10 Funds

General Dynamics, National Steel and Shipbuilding Company, San Diego, Calif., is being awarded a $100,000,000 fixed-price-incentive modification under previously awarded contract (N00024-02-C-2300) to exercise an option for long lead time material and associated labor for the 10th ship of the T-AKE 1-Class (T-AKE 10).The contractor will perform material sourcing, material ordering, vendor interface, and material quality assurance


Ukraine's Black Sea Gas Ambitions Seen at Risk over Crimea

By Henning Gloystein, Reuters Ukrainian plans for expanding Black Sea natural gas output have been thrown into doubt by Russia's seizure of Crimea, a region linked to most of Ukraine's offshore developments. Past price disputes between Russia and Ukraine have led to the Russians cutting off supply, prompting Kiev to spur development of its own resources including onshore shale gas and Black Sea fields. Ukraine failed to pay Russian gas company Gazprom $440 million by a deadline on


ABB Wins $45M in Propulsion Contracts

ABB in Norway has secured new contracts worth $45 million for delivery of complete electric propulsion systems to two icebreakers to be built for CJSV Sevmorneftegaz by the Norwegian shipyard Havyard Leirvik, and four Platform Supply Vessels to be built in China for Groupe Bourbon by Zhejiang Shipbuilding. The contracts with Havyard Leirvik encompass system supply to two multifunctional icebreaking offshore supply vessels for the Russian company CJSV Sevmorneftegaz


Deep Sea Supply takes Delivery of 'Sea Triumph'

The vessel ‘Sea Triumph’ is a STX 05-L design

  The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L design built at Cochin shipyard in India. Main characteristics of the vessel are; 4


Gazprom Supplying Gas to Europe as Contracted

A working meeting between Russian President Vladimir Putin and Gazprom Chairman Alexey Miller took place today.

  Alexey Miller reported to Vladimir Putin that European consumers were receiving gas supplies entirely in line with contractual obligations. The total accumulated gas supplies for export exceeded the planned amount by 3 billion cubic meters by early September.


Steel Cut for Third RCI Quantum-class Cruise Ship

Quantum-class shipyard scene: Photo RCI

The steel cutting for 'Ovation of the Seas', scheduled to be delivered in the autumn of 2016, took place at the Meyer Werft shipyard in Papenburg, Germany, where 'Quantum of the Seas', 'Anthem of the Seas' and now 'Ovation of the Seas' are being built, say owners Royal Caribbean International (RCi)


Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use of fuel oil and liquefied petroleum gas (LPG) in industry, the economy ministry said on Thursday.


Navy Ships Deliver Supplies to Solomon Islands

Sailors from HMAS Tarakan load supplies donated by the Rotary Club of Honiara onto their ship during a port visit to Honiara, Solomon Islands. Photo: Craig Blakely

Two Royal Australian Navy landing craft have delivered vital supplies to remote communities in Solomon Islands as part of Australia’s commitment to provide support to the region. HMA Ships Labuan and Tarakan transported education, medical and flood relief supplies from the capital Honiara


Oil Edges Below $99 but Supply Risks in Focus

Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.S. dollar. Threats to supply as Libya's output fell and talk of OPEC production cuts limited the decline for


Brommeland to Supply KNS VSATs to Kopervik

Brommeland Elektronikk AS, the Norwegian distributor for KNS, was awarded a contract to supply 13 VSAT systems to a large part of the Norwegian shipowner Kopervik Group fleet. The KNS VSAT systems will be supplied through a leasing program


Seaspovill Orders Second Damen Fast Ferry

Photo courtesy of Damen

South Korean operator Seaspovill signed its second contract for a Fast Ferry with the Netherlands-based shipbuilder Damen Shipyards Group. The Fast Ferry 4212 - to be named SEA STAR 5 - will operate between Mookho and Ulleung-Do at the East-coast of South Korea.


World’s Largest Fast Crew Boat Christened at Incat

Magomayev

The 70-meter Fast Crew Boat (FCB) was christened Muslim Magomayev at a ceremony at the Incat shipyard on Monday, September 15. This is the first vessel that Australian Shipbuilder Incat Tasmania has purpose built for the oil and gas industry


Australian Navy Delivers Solomon Island Supplies

Offloading in Solomons: Photo RAN

Two Royal Australian Navy landing craft have delivered vital supplies to remote communities in Solomon Islands as part of Australia’s commitment to provide support to the region.
 
 HMA Ships Labuan and Tarakan transported education


MARAD to Mark the Return of MV Cape Ray

MV Cape Ray (U.S. Navy photo by William Clark)

Maritime (MARAD) Administrator Paul N. Jaenichen will host a ceremony on Friday, September 19, 2014 in Portsmouth, Va. to honor the civilian crew who helped to destroy Syria’s chemical weapons at sea aboard the MV Cape Ray. The MV Cape Ray, crewed by all-volunteer U.S


World’s Largest Iceberg Continues to Break Apart

Image courtesy of NIC

The United States National Ice Center (NIC) named three new icebergs after a previous iceberg B15T broke into four pieces. B15T remains, while the resultant icebergs are named B15Z, B15AA and B15AB. B15T is the largest surviving remnant of the largest ever recorded iceberg B15


Hyundai Mipo Dockyard Delivers Fourth PSV

HMD’s fourth PSV, NS Frayja

Hyundai Mipo Dockyard (HMD) delivered the fourth high value platform supply vessel (PSV) for BP Shipping at its main shipyard in Ulsan, South Korea. HMD won four PSVs from BP Shipping in March 2012 and already delivered three same type vessels from January to July this year.


EMS Seven Seas Announces New CEO

Lars Rosenkrands

EMS Seven Seas announces new CEO; enters into agreement to acquire Wave Shipping, a Singapore-based maritime and port agency services company. EMS Seven Seas, an international ship chandler and leader in the provision of goods to the marine, offshore and defense sectors


For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant. Adding to renewed demand is the more potent interest of major east Asian companies






 
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