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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'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


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


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


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.  


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


Meercat Workboats Scores a Hat-trick

(Photo: Meercat Workboats)

The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that it expects to benefit from the recent Brexit vote.    MC28 is a 15m x 6m monohull workboat currently in build for


Beier Purchases South Coast Electric Systems

  Beier Integrated Systems (Beier) informs it has purchased South Coast Electric Systems (SCES) from American Electric Technologies (AETI), expanding the its manufacturing capabilities in the marine market.   Beier said it will acquire SCES’s operations


Wärtsilä to Power Two Indian Dredgers

The new 8000m3 trailing suction hopper dredgers being built for the Adani group  Photo Wärtsilä

Wärtsilä has won an order for two new 8000m3 trailing suction hopper dredgers being built for the Adani group, India's largest private multi-port operator. The vessels are the first of a new IHC Beagle series designed by Royal IHC (IHC) of the Netherlands. IHC will also build the dredgers


World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money poured into safe-haven gold and government bonds. Sterling suffered a record plunge.  


Oil Ends Higher in Choppy Trade ahead of Britain's EU Vote

Oil prices closed 2 percent higher after a volatile session on Thursday, with investors less worried about prospects for the global economy after the last pre-vote opinion polls showed Britain was likely to remain in the European Union.  


PGS, Radio Holland Expand Service Agreement

Ramform Tethys represents an enormously stable platform with outstanding seakeeping characteristics.(Photo: PGS)

Norwegian marine geophysical company PGS has extended its non-exclusive service agreement with Radio Holland for navigation and communication services onboard nine seismic vessels in its global fleet. Radio Holland is known in the maritime industry for its NavCom and Maintenance services through


BSM Adds Simulators at Cyprus Training Center

Valentin Rakutins, Director of BSM MTC Cyprus presenting the new bridge simulator (Photo: Bernhard Schulte Shipmanagement)

Bernhard Schulte Shipmanagement (BSM) has invested in a Full Mission Bridge and an Engine Room simulator for its training center in Limassol, Cyprus, allowing BSM to offer training for the career development of its own officers, as well as external training for participants in the region


Fincantieri, Rosneft Partner for a New Ship

During the 20th St. Petersburg International Economic Forum, Fincantieri and Rosneft signed a Heads of Agreement for the formation of a joint venture focused on design and engineering of a new type of vessel to be built at the Zvezda shipbuilding complex


Seaward Services Concludes 15-year Westpac Express Work

Seaward Services, an HMS Global Maritime company, recently marked the end of a 15-year working relationship with Austal on the Westpac Express project. Seaward Services was awarded a contract in 2001 to provide operations, maintenance and technical management


BSEE Evaluates Oil Spill Response Exercise

(Photo: BSEE)

Engineers and analysts from the Bureau of Safety and Environmental Enforcement's (BSEE) Gulf of Mexico and Alaska Regions recently evaluated Spill Response Operations Training and Equipment Verification exercises conducted by the Tennessee Gas Pipeline Company and its oil spill removal contractor


USNS Carson City Completes Acceptance Trials

Expeditionary Fast Transport 7 (EPF 7), USNS Carson City during Acceptance Trials in the Gulf of Mexico (Photo: Austal)

 Austal Limited announced that Expeditionary Fast Transport 7 (EPF 7), USNS Carson City has completed U.S. Navy acceptance trials.   The trials were undertaken in the Gulf of Mexico and involved comprehensive testing of the vessel’s major systems and equipment by the U.S. Navy.


Maersk to Use Drones to Resupply its Fleet of Tankers

Drones are being tested for inspections across the Maersk Group. Photo: Maersk Group

 Global shipping and logistics firm Maersk is looking at ways to use drones for delivering equipment to ships and is planning to conduct a test later this year, after using the technology in January for delivering cookies to a tanker at sea, says a report in PTI.  


PALFINGER Awarded 15-vessel Winch Contract

Image: PALFINGER MARINE

PALFINGER MARINE Winches and Offshore Equipment has signed a contract for the supply of complete winch packages to 15 Module Carrier Vessels being built for Topaz Energy and Marine.   The vessels, of VARD 9 21 design, are developed by Vard Design to navigate the shallow river systems as


Wärtsilä Expands Genius Services Offering

Wärtsilä Genius services now include new services and updates that help our customers optimise their operations and embrace digitalization (Photo: Wärtsilä)

The Wärtsilä Genius service offering now further supports customers' business with the newly launched Wärtsilä Offline vibration analysis service monitors the health of propulsion and other rotating equipment. In addition


Damen Delivers Floating Pump Station to Hamburg

Damen Shoalbuster 3512 Noordstroom (Photo: Damen)

Hamburg Port Authority (HPA) has taken delivery of the Sauger III, a custom floating pump station by Damen Shipyards Group for supporting dredging operations. Situated 110 km inland on the River Elbe and with a tidal range of 3.6 meters, the Hamburg Port requires regularly dredging like most ports






 
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