SEA SUPPLY

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

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

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."

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

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

PSV 'Skandi Caledonia' Hire Extended, Rate Increased

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 Anticipates Platform Supply Vessel

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

Polar Sea Arrives in McMurdo

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 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

MSC Accepts T-AKE Class Ship USNS Medgar Evers

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