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STERLING EQUIPMENT

Donjon to Build Hopper Barges for Sterling

Photo: Donjon Shipbuilding

Donjon Shipbuilding and Repair, located in Erie, Pennsylvania, was recently awarded a contract by Sterling Equipment of Quincy, Massachusetts to construct two hopper barges, with an option for a third. The principal dimensions of these barges are 225’ long x 42’ wide x 12’ deep. Delivery of the barges is to be made by the middle to end of August 2013. Donjon Shipbuilding & Repair's facility, equipped with 1,250 ft. by 120 ft. by 22 ft. dry dock, is one of the largest shipyards of its kind on the Great Lakes. The facility includes 4,000 ft. of pier space and more than 200,000 square ft. of production area, with fully enclosed fabrication and assembly buildings housing fully automated cutting, fabrication, and coating equipment sufficient to build and maintain everything from deck barges to ocean-going ships. www.donjonshipbuilding.com  


UK Urged to Change Capital Gain Calculation Methods

Moore Stephens tax partner Sue Bill.

Moore Stephens calls for rethink on capital gains exchange rate distortions on ships.   International accountant and shipping consultant Moore Stephens has urged the UK government to remove exchange rate distortions when calculating capital gains on ships.   Moore Stephens tax partner Sue Bill explains, “Currently, all capital gains and losses subject to UK corporation tax are calculated by reference to sterling


Carnival Increases Quarterly Divident by 25 Percent

Carnival Corporation & plc announced that it has declared a quarterly dividend of $0.25 cents per share -- an increase of 25 percent. The dividend is payable on December 9, 2005, to shareholders of record on November 18, 2005. With today’s announcement – combined with previously announced dividend increases in April 2005 and October 2004 – Carnival’s quarterly dividend has doubled in just over 12 months.


Moore Stephens: UK Budget "encouraging" for Shipping

Moore Stephens tax partner Sue Bill

INTERNATIONAL accountant and shipping adviser Moore Stephens says the UK Budget 2012 contains some encouraging signs for the shipping industry.   The government has stated that it will consult later this year on whether to introduce a rule allowing companies with a non-sterling functional currency to compute their capital gains and losses in such functional currency, rather than in sterling, as is currently the case


Indian FPSO Finance Secured by Malaysian Operator

Bhumi Armardi FPSO: Photo courtesy of Bumi Armada

Bumi Armada Berhad secures syndicated Indian banks term loan facilities of up to US$276.4-million for FPSO 'Armada Sterling'. Malaysia-based international offshore oil and gas services provider, company Bumi Armada Berhad announced today that its jointly controlled entity, Armada D1 Pte. Ltd. (Armada D1) has secured syndicated term loan facilities of up to USD276.4 million (facility) from Allahabad Bank, Bank of Baroda, Bank of India, Indian Bank, Indian Overseas Bank


BP Announces 2Q 2014 Interim Dividend

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  On 29 July 2014, the Directors of BP p.l.c. announced that the interim dividend for the second quarter 2014 would be US$0.0975 per ordinary share (US$0.585 per ADS). This interim dividend is to be paid on 19 September 2014 to shareholders on the share register on 8 August 2014. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative has been made available for this dividend allowing shareholders to


EC Clearance for Ferry Consolidation

P&O welcomes the announcement by the European Commission that it has cleared the Group's proposed purchase of Stena Line's 40 percent shareholding in P&O Stena Line. The transaction is expected to complete during the next week. P&O Chairman Lord Sterling said: "We are delighted to have received clearance from the EC. We can now proceed on schedule with the planned consolidation of our ferry businesses. By managing the businesses together we will be able to maximise synergies and growth


UK Budget is Good News for Shipping Sector

logo moore stephens.gif

International accountant and shipping adviser Moore Stephens says the UK Budget 2013 contains generally good news for the shipping sector. Measures which will have an impact on the shipping industry include a reduction in the main rate of UK corporation tax.  This is 23 per cent for the year ended 31 March 2014, reducing to 21 per cent from April 2014. A further reduction to 20 per cent from April 2015 has now been announced.  


TT Club Calls for Increased Port Safety

Photo courtesy of TT Club

In a speech given to the Trans Middle East Conference in Qatar in May, Andrew Kemp, Regional Director EMEA of the freight transport insurance specialist TT Club, called for operators to do more to minimize the causes of incidents resulting in bodily injury, cargo and property damage. Analysis of extensive TT Club data has shown that over 80% of insurance claims related to cargo handling at ports and terminals are the result of operational shortcomings or poor equipment maintenance


BP's Interim Dividend for 2014

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  On 28 October 2014, the Directors of BP p.l.c. announced that the interim dividend for the third quarter 2014 would be US$0.10 per ordinary share (US$0.60 per ADS). This interim dividend is to be paid on 19 December 2014 to shareholders on the share register on 7 November 2014. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative has been made available for this dividend allowing shareholders to


China Classification Society Opens Office in Denmark

Photo: DMA

 The China Classification Society (CCS), which falls under the Chinese Ministry of Transport, has opened an office in Copenhagen, further extending Sino-Danish maritime cooperation.   “For a maritime nation such as Denmark, it is important to have good relations and to cooperate


Damen Dredging Equipment Officially Reopened

Kommer Damen (Photo: Damen)

Kommer Damen, Chairman of the Damen Shipyards Group, officially reopened the offices of Damen Dredging Equipment (DDE) in Nijkerk on November 9 following an extensive refit and extension.   Among the facility’s improvements, the building now provides visitors with a complete


Tersan Shipyard Orders Deck Equipment

Courtesy PALFINGER MARINE

PALFINGER MARINE and Harding Safety recently signed a contract to provide lifesaving equipment and cranes for two fishing vessels being built in Tersan Shipyard. Each vessel will be equipped with two PALFINGER MARINE knuckle boom cranes, one A-frame fast rescue boat davit, and one fast rescue boat


Fugro's Shares Sink after Boskalis Trims Holding

File photo: Fugro

Shares in Dutch deep-sea prospector Fugro fell 4.5 percent on Monday after larger rival Boskalis announced that it had trimmed its holding in the company.   A statement from dredging and marine engineering company Boskalis said that its holding in Fugro now stands at 24.9 percent


Wärtsilä Nacos Platinum for Four Cruise ships

The Wärtsilä Nacos Platinum series of navigation, automation and control systems. Photo Wartsila

Wärtsilä has been awarded the contract to supply a broad range of integrated automation, navigation and dynamic positioning equipment, as well as the complete uninterruptable power systems (UPS) for four new cruise ships. Two of the vessels are being built at the Meyer Werft shipyard in


The Hague to Arbitrate East Timor-Australia Maritime Dispute

The Permanent Court of Arbitration in the Hague will oversee a compulsory arbitration between East Timor and Australia on their maritime boundary, it said on Monday, rejecting Australian objections. East Timor asked for the process which could decide on which side of the border lies a large oil


Grand Bahama Shipyard: Investing in the Future

(Photo: Grand Bahama Shipyard Limited)

MR spent time with Graham Couser, VP of Sales and Marketing, Grand Bahama Shipyard Ltd. (GBSL), for updates and insights on how this yard is faring in the current market and investing for the future. As the largest ship repair yard in the Caribbean, Grand Bahama Shipyard Limited


Palfinger Wins Deck Equipment Package

Illustration of Havyard 832 MPV, where Palfinger Marine will deliver and extensive deck equipment package of cranes, winches and offshore equipment. (Copyright: Palfinger Marine GmbH, Havyard Group)

Palfinger Marine signed a contract with Turkish shipyard Cemre to supply a deck equipment package to a Havyard 832 MPV vessel being built for Esvagt. The package from Palfinger consists of cranes, winches and offshore equipment. The MPV will measure 81.9 x 17.16 m, with a  deck area of 620 sq


Kalmar Bags Gulftainer Order

Kalmar T2 terminal tractor Photo Cargotec

Kalmar signed an agreement with Gulftainer Lebanon SAL to supply six Kalmar T2 terminal tractors and one Kalmar DCF80-45E7 empty container handler. The order was booked in Cargotec's 2016 third quarter order intake and the first delivery will take place in October 2016


Vard Acquires Equipment Supplier Storvik Aqua

Designer and builder of specialized vessels Vard Holdings Limited has entered into an agreement to acquire AS, an equipment supplier that provides feeding, measurement and control solutions to the aquaculture industry. The purchase price is approximately NOK 35 million.  


Damen Partners with TeamTec for BWTS

Photo courtesy of Damen

Damen Green Solutions has signed a letter of intent with Norwegian company TeamTec to supply and service the AVITALISTM ballast water treatment system.   The system combines filtration and a proven, eco-friendly chemical treatment solution optimized for medium-sized to large vessels


ACE Winches Introduces New 500te Linear Winch

Photo: ACE Winches

At this year’s Offshore Energy exhibition, global deck machinery specialist ACE Winches announced a new 500te Linear Winch to its range of specialized deck equipment. The company will showcase its range of products and services supplied to European clients operating within marine


Keppel to deliver third FPSO for Shapoorji Pallonji, Bumi Armada JV

Bumi Armada Courtesy Bumi Armada

Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Armada Madura EPC Limited (Armada Madura), a joint venture between Shapoorji Pallonji Group (Shapoorji


Caterpillar CEO to Retire, Successor a Company Veteran

Caterpillar Inc insider Jim Umpleby will become chief executive of the heavy equipment maker on Jan. 1, faced with the challenge of reversing a multiyear sales decline triggered by the global commodities slump.   He replaces Doug Oberhelman, who will retire as CEO on Dec


GE to Merge Oil & Gas Unit with Baker Hughes

Photo: GE

General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices.






 
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