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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


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


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.


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


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


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


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


Interferry Applauds IMO Consideration of BWTS Exemption

Johan Roos

Interferry has praised a decision made at last week’s meeting of the IMO Marine Environment Protection Committee (MEPC) that could exempt certain ferry operators from fitting equipment required by the impending Ballast Water Management Convention to reduce the spread of invasive species.


Rolls-Royce Expands in the Canary Islands

Rolls-Royce announced it has signed a cooperation agreement with the Astican Shipyard in Las Palmas, Canary Islands that it said will enhance the service capabilities of both parties to meet growing demand from rig and drillship owners. A new 1


ICS Welcomes IMO Progress on BW Issues

Peter Hinchliffe

Governments attending the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC) this week have made real progress towards agreeing solutions to major issues that have previously impeded ratification of the IMO Ballast Water Management Convention


MacGregor Secures Deck Machinery Orders from Sinopacific

the main dimensions of SPA85L have been optimized to meet the complex conditions of the South China Seas

MacGregor has signed a new series of deck machinery orders for 12 vessels with the China-based Sinopacific Shipbuilding Group. This builds on a track-record of contracts that now stands at 150 shipsets of equipment successfully delivered and installed at Sinopacific yards


SYM Bolsters Shipowners Service Portfolio

SYM announced it has reorganized its technical services in three lines: Technical Services, Wet Docking Services and Electrical and Electronic Maintenance. Technical Services, which includes through SYM Engineering Technical Office ship design, naval architecture and marine projects


ICS Lobbies on BWT Issues on Eve of IMO Meeting

The International Chamber of Shipping (ICS) and its member national shipowners’ associations are  engaged in a flurry of lobbying on the eve of a crucial meeting at the IMO next week that could effectively chart the course ahead on the Ballast Water Treatment System issue for maritime


Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning, Tank monitoring, P/V valves and the Scanjet VRC (valve related control) system.


Scanjet Bags Multiple Tank Management Orders

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  SCANJET Group has followed up its breakthrough Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning, Tank monitoring, P/V valves and the Scanjet VRC(valve related control) system.


Ulstein Wins Design, Equipment SRI Contract

Van Oord’s new subsea rock installation vessel, ‘Bravenes’. The ship is able to operate in depths of 600 metres and more.  (CR: ULSTEIN/Morild Interaktiv)

Ulstein  has been awarded the design and equipment contract for Van Oord’s new subsea rock installation (SRI) vessel ‘Bravenes’.   Working in close cooperation with Van Oord, this is the first fully integrated design where Ulstein is responsible for the development


AKOFS Offshore Gets Contract Extension from Petrobras

Skandi Santos

AKOFS Offshore, a part of Akastor ASA, has been notified of a five-year contract extension from Petrobras to use the Skandi Santos, a Subsea Equipment Support Vessel in Brazil. The extension, worth about NOK 2.5 billion, will start March 1, 2015 in direct continuation of current contract


Shock Test Machine Saves Navy Big Bucks

Welding work: Image courtesy of NSWCCD

The Navy's new Deck Simulator Shock Machine (DSSM) improves shipboard electronics reliability while reducing testing costs as equipment evaluations began in Philadelphia, saving the Navy $75,000 per test, as it meassures the effects of simulated underwater explosions on electronic equipment


Port of Everett Seaport Adds Lift Capacity

Welcoming new 150-ton mobile harbor crane in March 2015 		  					and three Hyster reachstackers

  The Port of Everett Seaport is adding additional lift capacity to its operations in March 2015, with the purchase of a new, 150-ton GHMK 7608 mobile harbor crane. The nearly $5.1 million investment, which was authorized by the Port Commission


Canal Marine, Techsol Marine Enter Partnership

Canal Marine and Techsol Marine announced a partnership agreement that will combine the companies' expertise for providing marine system design and fabrication, including switchboards, motor and generator controllers, AC/DC drive and winch controllers, alarm and monitoring systems


How Specialty Lenders Can Propel Marine Operators

Eric Dusch

The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million


Foster Wheeler For Air Quality Control System Upgrade In West Virginia

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  Foster Wheeler AG announced today that a subsidiary of its Global Power Group’s Environmental and Industrial division has been awarded a contract by Longview Power, LLC to rehabilitate and optimize the wet flue gas desulfurization system at their existing 700 MWe (net megawatt






 
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