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VESSEL RECOVERY

Odyssey: First Load of Silver Cargo From Three Miles Deep

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


Alfa Laval EGR-HPE Economizer a Boon

Alfa Laval PureNOx approved for MAN Diesel & Turbo EGR system

  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


Hurricane Pollution Recovery Ops Update

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 to Build Very Shallow Multi–System Skimmer

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 Davits for Japanese Vessels

Caley Davits for Japanese Fisheries hi-resWEB.jpg

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


Towline Aboard Stranded 'Kulluk' Rig

Rig Kulluk Aground: Photo credit Shell

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


Recovery Plan for Sunken Drydock in Guam

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


Container Recovery from RENA continues

RENA_Pumpout.jpg

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.  


Odyssey Recovers 1.8 Million Ounces of Silver From Shipwreck

Gairsoppa - Silver

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


ICS Produces Guidelines for IMO Regulation

ICS Water Recovery Guildelines (Credit ICS)

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 Posts Profit for 1Q

Photo: DryShips Inc

 Greece-based DryShips Inc. (DRYS) reported first-quarter of 2016 net income of $55.4 million, after reporting a loss in the same period a year earlier.    The company said it had profit of $2.05 per share. Losses, adjusted for non-recurring gains, came to 78 cents per share.


BW LPG Registers 10% Growth in VLGC Fleet

Photo: BW LPG Limited

 Less domestic petrochemical consumption of LPG would be positive for VLGC shipping as it would result in a greater surplus of LPG available for export.    However, it is still unclear whether this dedicated-feedstock ethylene (five new ethylene plants


Euroseas Faces Headwinds, Reports Loss

Image courtesy of Euroseas

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three month period ended March 31, 2016. First Quarter 2016 Highlights:


Damen Unveils Multi-role Utility Vessel

STD UV 2410 Artist Impression Photo Damen

Work is due to start shortly on the first of a new class of Damen utility vessel UV2410.   This multi-role platform is the result of extensive consultation with customers active in the aquaculture industry in the U.K. and Norway, the shipbuilder said


BIMCO: Dry Bulk Recovery Will be a Multi-Year Effort

Photo:  Cosco Corporation

 In an exclusive interview with “Akti Miaouli” newspaper, BIMCO Chief Shipping Analyst, Peter Sand, provides insight into the markets for dry bulkers, tankers and containerships in 2016 and what to expect going forward.  


Recent strength in dry bulk shipping to be short-lived - Drewry

Rahul leads dry bulk research at Drewry and is the editor of Drewry’s flagship publications Photo Drewry

Drewry forecasts dry bulk freight rates in 2016 will be, on average, lower than in 2015, as the medium-to-long term fundamentals for dry bulk shipping will remain challenging, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.


Asia Dry Bulk-Capesize Rates Under Pressure

A so-called ValeMax bulk carrier at the berth (File image: Vale)

Capesize rates fall in a quiet market as holidays weigh; 20 charter-free capesize ships could add to downward trend. Freight rates for large capesize dry cargo ships on key Asian routes are set to drift lower next week unless there is an uptick in chartering activity from major miners


Recent Strength in Dry Bulk Shipping to be Short-Lived

Graph: Drewry Maritime Research

 Drewry forecasts dry bulk freight rates in 2016 will be, on average, lower than in 2015, as the medium-to-long term fundamentals for dry bulk shipping will remain challenging, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.


Maersk CEO: Negative Rates Hurting Shipping

Nils S. Andersen. Photo: Maersk Group

Negative interest rates are hurting  shipping industry by delaying the consolidation wave so badly needed, Bloomberg reports quoting Nils Smedegaard Andersen, chief executive officer of AP Moeller-Maersk.   He said that the monetary policy environment "means consolidation will be


Report on Health of Seagrass in Cleveland Bay

Seagrass Fact Sheet courtesy Port of Townsville

Port of Townsville Limited (POTL) has released the 2015 Annual Seagrass Health Survey carried out in Cleveland Bay during 2015. The survey, commissioned annually since 2007 at a cost of around $70,000 per year, is carried out by James Cook University’s (JCU) Centre for Tropical Water


Oil prices up on Nigeria outages, Goldman Forecast

Unrest cuts Nigerian output to lowest in decades; U.S., China output also down sharply. Oil prices jumped over 2 percent on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of


Response Continues to Oil Spill off Louisiana

Two 210-foot and two 95-foot vessels conduct skimming operations, May 14, 2016, in response to a crude oil discharged from a segment of flow line at the Glider Field approximately 90 miles south of Timbalier Island, La. (U.S. Coast Guard photo: Marine Safety Unit Morgan City)

The joint effort between the U.S. Coast Guard and Shell continues in response to an oil discharge from a segment of flow line at the Glider Field located approximately 90 miles south of Timbalier Island, La., that occurred at approximately 11 a.m., Thursday.


BSEE Panel for Oil Release in GoM

bsee Logo

The Bureau of Safety and Environmental Enforcement is continuing its investigation of the oil release from Shell Offshore Inc.’s Glider Field on May 12. The Glider Field, located approximately 97 miles south of Port Fourchon, LA, includes subsea wells and the field’s production flows


Bourbon Puts Gas Plans on Hold

Photo: Bourbon

Bourbon’s plan to diversify into the gas carrier market has run into financial obstacles. The company said in a statement that its board of directors acknowledged that the financing required for the acquisition of Jaccar Holdings’ gas activities would not be obtained within the


Asian Shipyards: Outside The Usual Suspects?

Graph: Clarksons Research

 Although many builder countries struggled to win new orders in 2015, yards in the Philippines, Vietnam and Taiwan managed to increase their combined share of global ordering to its highest level on record, says Clarksons Research.  






 
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