Odyssey Marine Exploration (Nasdaq:OMEX), announced it has successfully recovered approximately 48 tons of silver bullion from a depth of approximately three miles. This initial recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, totals 1,203 silver bars or approximately 1.4 million troy ounces of silver and has been transported to a secure facility in the United Kingdom. After unloading the cargo, taking on fuel and changing personnel, recovery operations will continue and are expected to be completed in the third quarter of 2012.This record-breaking operation has so far produced the heaviest and deepest recovery of precious metals from a shipwreck. Odyssey is conducting the Gairsoppa project under contract with the UK Department for Transport. Under the terms of the agreement, which follows standard commercial practices, Odyssey bears the risk of search and recovery and retains 80% of the net salved value of the Gairsoppa silver cargo after recovering its expenses. The contract was awarded to Odyssey following a competitive tender process. The amount of silver bars recovered so far represents approximately 43% of the insured silver bars, or approximately 20% of the total silver cargo which research has indicated may be on board. In addition, an estimated 600,000 oz
With Tier III NOx limits entering into force in North America and the US Caribbean in January 2016, the time has come for many ship owners to choose their method of compliance. Exhaust Gas Recirculation (EGR) on MAN B&W engines has strong advantages on its own. But combined with a new pressurized EGR economizer from Alfa Laval, it also offers the potential for massive fuel savings. “EGR provides Tier III NOx compliance with a very compact footprint
In the aftermath of Hurricane Katrina, federal, state, local and industry personnel continue to work together to conduct pollution recovery operations to mitigate further damage to the environment. The following industries are continuing pollution recovery operations: Murphy Oil Corporation, near Chalmette, La.: - Estimated 819,000 gallons of oil have been discharged, with the vast majority contained within the existing secondary containment unit located on refinery property
Trinity Offshore, LLC announced that they have signed a contract to build one 56-ft by 14-ft MKII Very Shallow Multi-System Skimmer (VSMSS) with Clean Gulf Associates of New Orleans, La. Clean Gulf Associates, one of the largest oil spill response cooperative in North America, will operate the vessel to provide marine service and environmental clean up along the Gulf Coast to its member companies. Designed by Trinity’s in house engineering department
Caley Ocean Systems has supplied davits for four Japanese Fisheries patrol vessels. The davits will allow the rapid deployment and retrieval of a range of high speed workboats, even in Sea State 6 conditions, during patrol operations. The all-weather Caley davits enable rigid inflatable boats (RIBS) to be held in readiness and launched in seconds. Crew safety is paramount to the davit's handling system which features anti-pendulation control for pitch and roll damping and reduction of
Aerial and onboard inspections confirm the vessel remains firmly aground & stable on Sitkalidak Island, Alaska, with no sign of leakage of pollutants. Naval architects on the survey team confirm the Kulluk is structurally sound and fit for towing to safe harbor in nearby Kiliuda Bay. The exact timing for potential towing activity is dependent on weather, tides and operational readiness. Once the Unified Command team managing the incident confirms it is safe and ready to move forward
Guam Shipyard has finalized plans to recover the floating dry dock Machinist, or Big Blue, which took on water and became partially submerged Jan. 3. The Coast Guard has established a unified command with Guam Environmental Protection Agency and Guam Shipyard to manage the recovery process. Coast Guard Sector Guam reviewed the shipyard’s plans, which outline the shipyard’s commitment to work with oil recovery contractor Gresco under the supervision of the Coast Guard and Guam EPA
RENA Container Recovery Passes 800 Mark. The number of containers recovered from the stricken Rena on Mount Mauganui’s Astrolabe Reef has risen above the 800 mark. A total of 815 of the 1,368 containers have now been brought to port. Braemar Howells’ operations manager Neil Lloyd confirmed numbers were boosted this week with 21 containers landed on Monday, and a further eight on Tuesday.
The latest recovery from SS Gairsoppa reportedly set the world record for deepest, largest precious metal recovery. Odyssey Marine Exploration said it has recovered more than 61 tons of silver bullion this month from a depth of nearly three miles. This recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, consists of 1,574 silver ingots weighing about 1,100 ounces each or almost 1
Guidelines helping shipowners comply with a new International Maritime Organization (IMO) regulation, requiring ship-specific planned procedure for recovering individuals from the water, have been launched by the International Chamber of Shipping (ICS). Under the new SOLAS Regulation, effective July 1, all ships are required to develop plans and procedures that identify the equipment used for recovery purposes and measures to minimise the risks for shipboard personnel involved in recovery
DryShips Inc., an international owner of drybulk carriers and offshore support vessels, has announced that on November 22, 2016, it has successfully delivered the 2004 built Panamax bulk carrier M/V Sorrento to an unaffiliated third party buyer for a gross price of $6.7 million.
MacGregor has won davit orders for two low-emission 81m service operation vessels (SOVs) designed to act as 'mother-ships' for wind turbine technicians. The contracts have been placed by Spanish shipyard GONDAN, responsible for the construction of the SOVs
Officers and crewmembers of the Crowley Maritime Corp.-managed cargo ship M/V Ocean Glory were recently honored with a 2016 Admiral of the Ocean Sea (AOTOS) Mariners’ Plaque for demonstrating heroism at sea during the United Seamen’s Service’s (USS) annual AOTOS awards ceremony
The worst is over for the dry bulk shipping sector, after years when too many ships chased too little cargo, yet the extent of the lost business means a full recovery is still some way off, leading ship owners said on Wednesday. Dry bulk shipping
While talk of autonomous operations in the maritime sector have swirled for years, the talk becomes reality as Automated Ships Ltd. (an M Subs Ltd subsidiary) and Norway’s Kongsberg Maritime signed a Memorandum of Understanding to build the world’s first unmanned and fully-automated
Researchers tackle the tough problems despite a lack of funding and official incentives to move forward. Progress, in particular for Arctic spill response equipment and techniques, is being made. Even in the messy but now seemingly distant wake of such environmental disasters such as the
The two-year oil price crash has hurt a Canadian government program that funds research on oil spill cleanups, resulting in fewer applicants than expected, a senior federal official said. As a result, the government will expand the scope of its Oil Spill Response Science Program and open a
Connecticut-based Eagle Bulk Shipping Inc reported a loss of $19.4 million in its third quarter ended September 30, 2016. It had net loss of $20.4 million last year Q3. It has a loss of 52 cents per share compared to $10.83 net loss per share, for the comparable quarter in 2015
The shipping industry faces a stormy road to recovery, with uneven supply/demand trends set to test the nerve of investors and operators, according to independent research and consultancy firm Maritime Strategies International (MSI). Addressing the Hansa Forum in Hamburg, Germany this week
A record year for containership demolitions in 2016 has helped suppress total fleet growth close to the rate for demand. To repeat that feat the scrapping record will need to be smashed again, and again. There are multiple ways to measure the vitality of the container industry
Mitsui O.S.K. Lines, Ltd. today announced that on October 27, a naming ceremony for the Shinzan Maru, a newbuilding iron ore carrier that will sail under a long-term transport contract with Kobe Steel, Ltd., was held at the Hiroshima Shipyard of Imabari Shipbuilding Co., Ltd.
Weakness in freight rates will increase tanker shipping demolitions over the next two years, with the trend accelerating in later years as a result of the IMO regulation on ballast water, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
Italian towing company Fratelli Neri S.p.A. has expanded its fleet with the delivery of three new Damen workboats. The trio of vessels will be based in the company’s home port of Livorno, on the Tuscan coast. Damen delivered all the vessels from stock;completing the final outfitting works
Dry bulk shipping company Golden Ocean Group Limited, while announcing its preliminary results for the quarter ended September 30, 2016, informed that it suffered a net loss of $26.7 million and a loss per share of $0.25 Highlights
These are difficult times for the shipbuilding industry, in particular that of Korea, which faces its worst-ever order drought. Big, medium-sized and small shipbuilders are undergoing deep restructuring as a consequence of the workload downturn