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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


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


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


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.


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'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


UK Budget is Good News for Shipping Sector

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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


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


LGH Opens Phoenix Warehouse

Photo: LGH

Lifting Gear Hire (LGH) opened a new warehouse in Phoenix, Arizona, the company’s 19th warehouse across North America.   The new warehouse aims to offer a one-day equipment ship point to many southwestern cities, including Los Angeles, Denver, and Las Vegas


Kalmar Automation System for Melbourne's CT

Photo : Kalmar

  Kalmar, part of Cargotec, has been awarded a contract to provide an integrated automation system to handle operations at Victoria International Container Terminal Ltd's (VICT) new terminal in Melbourne, Australia. According to the contract


Sea Star’s Puerto Rico Service Start Date Advanced

After announcing last week a new weekly barge service from Jacksonville to Puerto Rico intended to commence on January 29, Sea Star Line has restructured assets and plans to move the start of the new service forward to January 22.   Sea Star is in the process of on-hiring 2


MacGregor Access Equipment for 2 Cruise Ships

STX France SA has awarded a contract to MacGregor for the delivery of cargo and passenger access equipment for two cruise ships.   MacGregor said its turnkey delivery includes the design, production, delivery, installation and commissioning of tailor-made systems that include MacGregor doors


GE Electric Propulsion Equipment for LNG Carriers

GE Power Conversion receives first order in Japan from Kawasaki Heavy for electric propulsion motor equipment for LNG vessels   GE’s Power Conversion business has received a new order from Kawasaki Heavy Industries, Ltd. for electric power and propulsion systems for two LNG carriers


MacGregor Bags Contract from STX

Photo by MacGregor

  MacGregor, part of Cargotec, has received a contract from STX France SA to deliver cargo and passenger access equipment for two cruise ships. The order was booked into fourth quarter 2014 order intake.   MacGregor's 'turnkey' delivery includes the design, production, delivery


Face-lift for Port of Windsor

Image: Great Lakes-St. Lawrence Seaway Authority

The Windsor Port is key area in the planned $7-billion worth of investments to transform Canada’s most important transportation and trade networks, the Great Lakes-St. Lawrence Seaway. Approx $60 million has been spent in Windsor to improve infrastructure the last five years. 


Third Fugro Vessel to Join MH370 Search

Fugro Supporter (Photo: Fugro)

An additional Fugro vessel has been commissioned to carry out underwater search activities for missing Malaysia Airlines flight MH370, the company announced.   Multipurpose offshore survey vessel Fugro Supporter is on its way to the Southern Indian Ocean search area


EFC Delivers Equipment to Chinese Shipyard

EFC Group has completed a $2.2million contract to design and build a BOP and diverter control system for China-based Dalian Shipbuilding Industry Offshore Co (DSIC Offshore).   The system is installed onboard DSIC’s newbuild jack-up drilling rig


Palfinger Adds Winch Line with NDM Acquisition

Photo: Palfinger Marine

Palfinger Marine acquires Norwegian Deck Machinery AS, expands product portfolio with new deck winches    Palfinger Marine has expanded its product portfolio with the acquisition of Norwegian Deck Machinery AS (NDM), stating NDM’s position within the design and development of


General Dynamics Wins MK46 Systems Contract

Mk-46 30mm gun weapon system aboard USS Mesa Verde (LPD 19)

The Naval Sea Systems Command (NAVSEA) awarded General Dynamics Land Systems a $26.2 million contract for the production of MK46 Modification (Mod) 2 Gun Weapon Systems (GWS) for use on Littoral Combat Ships (LCS), and Zumwalt-class (DDG-1000) ships


Konecranes Signs First Boxhunter RTG Deal

Photo courtesy: Konecranes

Konecranes has  announced the signing of the first Boxhunter RTG deal. The customer, CGM, located in Kamayut Township, Yangon, Myanmar, has developed an exciting new kind of business concept involving the Boxhunter.  CGM is a company that has developed a new


APM Terminals Furthers Equipment Investment

APM Terminals equipment investments continue at Algeciras and Apapa; 16 new Rubber-Tire Gantry cranes ordered   APM Terminals placed an order for 16 new advanced Rubber-Tire Gantry cranes (RTGs) as part of an ongoing program of upgrading and expanding container handling capabilities and


Onex Buys Safety Fim Survitec

Onex buys Survitec from Warburg Pincus for 450 mln stg. Canadian private equity firm Onex has bought UK safety and survival equipment maker Survitec from Warburg Pincus for 450 million pounds ($679.7 million), Warburg Pincus said on Monday.


US Navy Using Advanced Equipment in AirAsia Search

The littoral combat ship USS Fort Worth (LCS 3) operates near the location where the tail of AirAsia Flight QZ8501l was discovered. Fort Worth is currently supporting Indonesian-led efforts to locate the downed aircraft. (U.S. Navy photo by P. Turretto Ramos)

An eight-member team from Mobile Diving and Salvage Unit (MDSU) 1 onboard USS Fort Worth (LCS 3) is supporting the ongoing Indonesian-led search effort for AirAsia flight QZ8501 with advanced Tow Fish side scan sonar systems capable of providing high-resolution images of the ocean floor.  






 
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