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
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
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
The US Department of Homeland Security released the 63-page Maritime Infrastructure Recovery Plan. The plan provides a standardized procedure for restoration of maritime transportation systems following an incident of national significance. It includes an exercise plan to maintain a level of preparedness within the maritime community. Source: HK Law
The U.S. Environmental Protection Agency is strengthening the regulations that govern the shipping of hazardous waste for recycling between the United States and other countries. The new measures are meant to increase the level of regulatory oversight, provide stricter controls, and greater transparency. The final rule announced today aligns EPA’s hazardous waste import/export/transit shipment regulations with the procedures of the Organization for Economic Cooperation and Development
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
The Coast Guard has reopened the Neches River with restrictions to all vessel traffic, Saturday. Vessel traffic is restricted from meeting or overtaking one another 1,000 feet up bound and 1,000 feet down bound near the capsized towing vessel Louise at mile marker 284
Oil rose more than 3 percent on Tuesday as oversold conditions brought some buyers back to the market, but a lingering supply glut and worries about the slowing economy in top commodities consumer China kept crude prices near 6-1/2-year lows.
NYK has concluded a contract with United Green for partial ownership of a canola flower field along the Sanriku shoreline, an area that suffered extensive damage from the tsunami that accompanied the Great East Japan Earthquake in 2011.
Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier as revenue fell by a quarter to USD18.5 million from USD24.7 million.
U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment Generating Economic Recovery (TIGER) grants totaled $9.8 billion, almost 20 times the $500 million set aside for the program
One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015. The vessel will be the first ASD tug in the Mediterranean region with a Damen Render Recovery Escort winch. The family-owned
Global shipping and energy services firm, Craig Group, has launched its first F-Class vessel, the Grampian Fortress. The IMT 958 multi-role emergency response and rescue vessel (ERRV) was christened in the Balenciaga Shipyard in Northern Spain this week.
Coast Guard crews are continuing to monitor oil recovery operations (ORO) in the water near the International-Matex Tank Terminal (IMTT) Bayonne, New Jersey, Monday. Watchstanders at Coast Guard Sector New York received notification at approximately 10 p.m
Even as world energy prices continue to maintain low pricing levels, offshore contracts are there to be won. Keppel Offshore & Marine Ltd has secured a Floating Production Storage and Offloading (FPSO) conversion contract as well as three repair
In the offshore industry, time is always of the essence. Vessel owners make it a priority to keep the necessary yard visits as short as possible. To contribute to this short time priority, Heinen & Hopman has developed a containerized fan room that can be completely prefabricated and tested
Rickmers Trust Management (Rickmers Maritime) suffered a loss of USD15.7 million for the second quarter ended 30 June 2015 from a profit of USD16 million in 2Q14. Rickmers Maritime recorded a net loss after tax of US$15.7 million in 2Q2015, compared to a net profit of US$16
A company of the Rosneft Group and a subsidiary of Trican Well Service Ltd. signed a framework agreement and ancillary documents, pursuant to which a Rosneft subsidiary agreed to acquire a 100% shareholding in Trican Well Service LLC
Sinotrans Shipping slid back into the red for the first half of 2015, turning to a $18.3m loss from a small $2.3m profit in the previous corresponding period. The dry bulk and container shipping arm of Chinese state-owned Sinotrans & CSC Group continues to feel the pain of low
A surge in crude tanker vessel capacity over the next two years will lead to a fall in ship-owner earnings from current highs, according to the latest edition of the Tanker Forecaster, published by global shipping consultancy Drewry.
The global dry bulk freight market, crippled by oversupply but seeing signs of renewed activity, is expected to take at least a year to hit the road to recovery, according to the latest Platts survey of shipping market participants.