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.
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
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."
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
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
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%.
Farstad Shipping ASA, through its wholly owned subsidiary Farstad Supply AS, has reached an agreement with Ulstein Shipping AS to take delivery of an offshore supply vessel under construction at Ulstein Verft AS. The vessel is a platform supply vessel of design ULSTEIN P105 for delivery on December 12, 2003. The vessel is a Ulstein-design and will have dieselelectric propulsion system, a length of 86 meters and a beam of 19 meters
The Coast Guard Cutter Polar Sea arrived in McMurdo after a 10,200 nautical mile transit from its home port in Seattle, Washington. Polar Sea made stops in Honolulu, Hawaii and Sydney, Australia during its voyage south. The Polar Sea, a 399-ft. polar class icebreaker with a 150-person crew, is recently out of a two-year overhaul. The Polar Sea conducted sea trials in the Arctic this summer to test all the ship's equipment and train the crew prior to transiting to Antarctica to re-supply
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
Military Sealift Command accepted delivery of its newest dry cargo/ammunition ship, USNS Medgar Evers (T-AKE 13), during a short ceremony at the General Dynamics NASSCO Ship Yard San Diego. The ship, which was christened Nov. 12, 2011 in San Diego, honors slain civil rights leader Medgar Wiley Evers, who is remembered for his efforts to end segregation at the University of Mississippi in the 1950s and for his opposition to Jim Crow laws in the 1960s
The Stifel Logistics Confidence Index continued its downward trend in May as it fell for the second consecutive month. Compiled by Transport Intelligence, the overall index, which combines the current situation with future expectations, was down 0.8 points from April to 50.7 in May and was 1
NorSea Group, a supplier of base services and integrated logistics systems to the Norwegian oil and gas industry, has followed last month’s announcement that it is to develop a supply base at Scrabster Harbor, by signing its first strategic working partnership with local logistics firm Hugh
U.S.-flagged container ship ‘National Glory’ kicks off the new service when she departs Houston for San Juan May 29, 2013. The new 14-day service, which is being provided by National Shippers of America (NSA), is called "Isla Verde Express" and will provide customers
The first Mobile Landing Platform ship, 'USNS Montford Point' (MLP 1), built by General Dynamics-NASSCO, accepted in San Diego, Calif. The Mobile Landing Platform is a new class of ship and highly flexible platform that will provide capability for large-scale logistics movements such
This year's theme for Day of the Seafarer (25, June 2013) is 'Faces of the Sea': a natural evolution from last yearʼs theme of ʻIt came by sea and I canʼt live without itʼ. IMO explains that this year, fundamentally, it moves the theme to bringing the campaign back to the unsung
Market strategy focuses on delivering innovative supply chain solutions that complement Kuwait’s growing reputation as a major logistics hub. Globe Express Services announced that it has intensified its regional growth plans by providing a full array of innovative supply chain solutions
The Sea Tantalus is the first of a series of Vard Group (STX) designed platform supply vessels being built at Cochin Shipyard Ltd. in India. The distinctive hull configuration is being built in countries around the world, and the Indian version is the first of four from Cochin.
IEA’s Medium-Term Oil Market Report sees companies overhauling global investment strategies; meanwhile, surge in non-OECD refining capacity shakes up product market The supply shock created by a surge in North American oil production will be as transformative to the market over the next
Norway-based boat handling system and specialized davit supplier Vestdavit was contracted to supply work boat and man overboard davits for four specially designed chase vessels which will support Norwegian seismic major PGS’ fleet of seismic ships.
South Shields based Solar Solve Marine received an order for Solasolv anti-glare, heat rejecting roller screens for the navigation bridge windows of a Marine Capture Vessel (MCV) which is being converted at Drydocks World in Dubai. Solasolv screens are installed at the windows of ships
US Firm, Tidewater, agrees with HitecVision to purchase Norway's Troms offshore, including 5 large PSV's. Tidewater say that the acquisition of Troms Offshore, headquartered in Tromsø, Norway, will expand their global footprint into the Norwegian sector of the North Sea and supplement
Energy advisors Douglas-Westwood will present at All Energy 2013, in Aberdeen, May 22, and Frank Wright, Renewable Energy Manager, will outline findings of the soon to be released Offshore Wind Market Forecast, giving a global overview of the industry through to 2022.
ITIC revealed how an invoicing error led to a shipbroker being asked to foot the bill for a bunker supply amounting to more than three-quarters of a million dollars. In its latest Claims Review, ITIC cites the case of a chartering broker which arranged a fixture for a voyage from the Black Sea
Aberdeen-based standby vessel operator Atlantic Offshore Rescue said it has commissioned what will be the U.K.’s most powerful emergency response and rescue vessel (ERRV). The Ocean Troll – which recently completed a long term charter with Statoil – has undergone a £2
JonRie InterTech was commissioned for the supply of deck equipment for the new ASD Aura from Great Lakes Shipyard, Cleveland, Ohio. The new Tug is a Jensen designed ASD 4650 HP complete with a JonRie Series 220 Double Drum hawser winch on the bow with a capacity of 150M of 60 mm line