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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


Seismic Survey Offshore NW Australia by TGS

Geoscience providers TGS announce a fourth 3D multi-client seismic survey, 'Honeycombs'. Honeycombs, covers 2,500 km2 over the Exmouth Plateau in the Northern Carnarvon Basin, offshore NW Australia. This survey is located over acreage with 50% relinquishment due in February 2013 and is adjacent to the previously announced NW Australia survey (Mary Rose) in October 2011. Upon completion of this survey, the TGS portfolio of 3D multi-client coverage in this highly prospective area offshore


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


Chemline Launches Contractor Services

Polyurea/polyurethane protective coatings manufacturer Chemline said it has established a new dedicated sales team and web page specifically for contractors.   The company has served primarily the OEM market for 20 years, and is now adding contractor-focused services is in response to


ALMACO to Deliver Catering Areas for Saga Cruise Ship

Image: ALMACO

 ALMACO said it has been contracted to build the catering areas onboard the first newbuild ship for Saga Cruises at Meyer Werft shipyard in Germany.   The vessel is expected to be delivered in summer of 2019, with the option to order a second with expected delivery in 2021.  


Ship Systems and Equipment Meeting Underway

Photo: International Maritime Organization (IMO)

 The first set of international requirements for onboard lifting appliances and winches are expected to be finalized during this week’s meeting of the Sub-Committee on Ship Systems and Equipment (SSE).    The draft amendments to SOLAS as well as any necessary related


Fisheries Research Vessel Ordered for Germany

(Image: Damen)

The German Federal Office for Agriculture and Food (Bundesanstalt für Landwirtschaft und Ernährung, BLE) has signed a contract with Damen Shipyards Group for the construction of a new fisheries research vessel following a European tendering process


First TTS Shipset Delivered to COSCO Shanghai Shipyard

Photo: TTS Group

 TTS Group announced the delivery of the first of four shipset of TTS deck equipment to COSCO Shanghai Shipyard.   In April 2015, Shanghai Shipyard Co. Ltd., part of the China State Shipbuilding Corporation (CSSC), ordered various TTS deck equipment for four 28


Gaylin Plans for Growth in Vietnam

Heavy lift slings being mobilized for a short-term rental project from Gaylin’s Vietnam facility (Photo: Gaylin)

Singapore-headquartered Gaylin, a specialist supplier of lifting, rigging and marine equipment, said it has initiated a plan aiming to reposition its Vietnam facility to address changing trends in the local oil and gas, refining and chemical plant sectors


A Look Back at the Past 25 Years of Shipping

Photo: © stepheng101 / Adobe Stock

Clarksons Research take a look back to 1992 and compare the shipping industry then to its profile today. If this reveals anything it’s that while many things change dramatically, in an industry like this some things don’t appear to change too much at all.


MAN Cryo to Deliver LNG Fuel System to Italian Ferry

Image: MAN Cryo

MAN Cryo – MAN Diesel & Turbo’s marine LNG fuel-gas-system manufacturer – has signed a contract with Sefine Shipyard in Turkey to deliver a marine LNG fuel-gas supply system (FGSS) to an Italian ferry.   The LNG supply system consists of a 150 m3 vacuum-insulated


Dragflow Cutterhead for Harbor Dredging

Photo: Dragflow

Dragflow has delivered a dredging hydraulic pump with frontal cutterhead to an Iranian company for the construction of a fishery port near Jask area in the Persian Gulf, South of Iran.  Before finding in Dragflow equipment the best solution


Vancouver Port Selects “PBCF” as Equipment Designated

PBCF (circled in yellow) is being installed. Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced that Propeller Boss Cap Fins (PBCF) was selected as a vessel quieting technology by the EcoAction Program implemented by Port of Vancouver, Canada. PBCF was jointly developed by MOL, West Japan Fluid Engineering Laboratory Co., Ltd


Australia, Fiji fix Cyclone damaged navigation equipment

Buoys loaded and ready for installation Courtesy  AMSA

In February 2016, Fiji suffered the devastating effects of Tropical Cyclone Winston. The cyclone caused significant damage to the infrastructure of Fiji, including to a number of maritime aids to navigation and lighthouse sites. The Australian Maritime Safety Authority (AMSA) has worked closely


Repairing Fiji’s Maritime Navigation Equipment Post-Winston

A satellite images shows Tropical Cyclone Winston during peak intensity and striking Fiji on February 20, 2016. (Photo: NASA)

When Tropical Cyclone Winston struck Fiji in February 2016, the deadly category 5 storm raked across the country with peak winds of 185 mph, damaging or destroying some 40,000 homes and causing an estimated $1.4 billion in damages. The strongest recorded tropical cyclone to make landfall in the


Gloria reachstackers for Messina Group

Gloria reachstackers delivered Photo Kalmar

Kalmar, part of Cargotec, has delivered nine Kalmar Gloria reachstackers to the Italian ro-ro and container shipping line Messina Group. The order includes a Kalmar Complete Care maintenance contract, which brings several advantages, such as financial predictability


Lamor Demos New Oil Recovery System

Photo: Lamor Corporation

 In mid-February, Lamor Corporation demonstrated a new way to recover oil by deploying the Lamor Marine Oil Spill Sweeper LMOS 15 Speed Skimming system in Halifax, Canada in cooperation with their local representative, Griffin Engineered Systems


Canadian Fleets, Seaway Invest $160 Mln for 2017 Season

File photo: Thunder Bay Port Authority / Chamber of Marine Commerce

Canadian ship owners and the St. Lawrence Seaway have spent an estimated $160 million on repair and infrastructure projects this winter, boosting the economic fortunes of communities throughout the Great Lakes, the St. Lawrence and east coast, according to the Chamber of Marine Commerce.  






 
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