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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


Turkey Approves EIA Report for South Stream’s Offshore Section

South Stream’s offshore pipeline

The Ministry of Environment and Urban Planning of Turkey approved the Environmental Impact Assessment (EIA) Report and issued a positive opinion of the EIA results for South Stream's offshore section in Turkey. The Report contains the assessment of potential environmental impacts caused by


Thome Is the First to Sign up to IMPA Act

(Left-Right) Stephen Alexander, COO and Secretary General of IMPA with Ryan Dalgado, Procurement and Supply Chain Manager of Thome Ship Management.

Leading integrated ship management service provider Thome Ship Management has become the first ship management company to join IMPA ACT, the responsible supply chain management initiative, launched by IMPA, International Marine Purchasing Association.


Abu Dhabi Ports Shift Far More Breakbulk Cargo

Breakbulk cargo handling: Photo ADPC

Abu Dhabi Ports Company (ABPC) says that general cargo moving through Abu Dhabi’s commercial Ports has increased by 37% this year. ADPC’s commercial ports (Musaffah, Khalifa and Zayed Ports) have handled 6.4 million FT (freight tonnes) of general cargo, compared to 4


Trelleborg Systems for DP World Southampton

Unit Element Fenders

Trelleborg’s marine systems operation has been awarded the contract to supply more than 70 UE1000 Unit Element fender systems to DP World Southampton. The new systems, taking the total supplied by Trelleborg to the Southampton container terminal to over 110


Stanford Marine Charters Out PSV

Dubai headquartered regional offshore marine business, Stanford Marine, says it has secured a 3 year contract with Mexishi  for one of its 87m Platform Supply Vessels, 'Stanford Bateleur', in Mexico. Before commencing her long term charter in Mexico


Port of Rotterdam Throughput Up by 0.6%

  The port of Rotterdam achieved steady results in the first half of the year. Total throughput increased by 0.6% compared to the first half of 2013. The throughput of crude oil increased by 3.3% while that of mineral oil products decreased by 13.5%. The throughput of coal grew by 9


COSCO Guangdong Building 3rd Ship UT771WP Series PSV

COSCO Guangdong start building a third ship UT771WP series PSV

  Construction of the Guangdong company COSCO Singapore CHELLSEA third ship built offshore platform supply vessels UT771-WP (N605) was successfully started yesterday. The total length of 85.7 m platform supply vessels, width 18 m, depth 7


APL Voted Best Trans-Pacific Shipping Line

Credit : APL

  APL today won the Best Trans-Pacific Shipping Line accolade at the 28th Asian Freight & Supply Chain Awards (AFSCAs). This is the third time in four years that APL has emerged as the preferred liner in this category, following wins in 2011 and 2012.


Imtech Equips HelWin bèta with HVAC System

hvac.jpg

On June 14, the HelWin bèta platform left on a barge from the Heerema Fabrication Group's (HFG) yard in Zwijndrecht for Schiedam to complete outstanding work. Last week, HelWin bèta reached its final destination in the German North Sea


Mundra SEZ of Adani's gets Environmental Clearance

Credit APSEZ

  Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and part of the Adani Group, today said it had received the environment and coastal regulation zone clearance from the Union Ministry for Environment and Forests, for its 8


PayCargo Re-introduces its Logistics Credit Program

PayCargo logo

Provider of electronic invoicing and settlement solutions for the shipping industry, PayCargo, LLC, says it has brought back its highly successful PayCargo Credit Program. PayCargo provides a global, online freight payment system that allows shippers


Vard to Design, Build PSV for E.R. Offshore

VARD 1 08. Overall length: 81m, Breadth 18m, 4,000 dwt. (Image courtesy of Vard)

Vard Holdings Limited announced that it has secured a contract for the design and construction of one Platform Supply Vessel (PSV) for E.R. Offshore. The vessel is a multifunctional PSV of VARD 1 08 design with a total length of 81 meters, beam of 18 meters and a cargo deck area of 830 m2


Peel Ports Invests in AutoGate System at Liverpool

Peel Ports have awarded a £5.5 million contract to Kalmar Global and APS Technology to install smart AutoGates technology at its £300m deep-water expansion project at the Port of Liverpool (example Baltimore)

Peel Ports Group has committed £5.5 million to introducing advanced infrastructure and AutoGates technology as part of its ongoing investment at the Port of Liverpool. With the £300 million deepwater Liverpool2 expansion due to be open next year


Pope Affirms Apostleship of the Sea’s Work

Pope Francis (Photo courtesy of the Official Vatican Network)

Pope Francis has affirmed seafarers’ charity Apostleship of the Sea’s (AoS’) ministry with peoples of the sea in his address in the Vatican, as churches around the world celebrated Sea Sunday. In his address on July 13 in St Peter’s Square, Pope Francis said


Rise of the Semisub Floatel

Declining North Sea production and increasingly mature assets are expected to drive demand for offshore accommodation support, with the attributed maintenance, refurbishment and shutdown work requiring additional personnel-on-board and workshop capacity, Douglas-Westwood reported






 
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