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
Container cargo numbers improved slightly at the Port of Long Beach in May, rising 0.8 percent compared to the same month last year when the docks were still busily catching up after several months of congestion. With cargo volumes near all-time peak levels, May’s 640
Experts believe the dry bulk market is positioned to become profitable by 2019 – but only if a series of sustained measures are taken year on year by the ship owning community as a whole, according to a report recently published by BIMCO.
Providing an update on the status of the on-going Greater Stella Area (“GSA”) development programme Ithaca Energy informed that the floating production facility (FPF-1) modifications programme undertaken by Petrofac in the Remontowa shipyard in Poland is in the final stages of
Royal Caribbean christened their third Quantum class cruise ship, Ovation of the Seas, to huge fanfare in a ceremony in Tianjin, China. The event marked the first time a Royal Caribbean ship has been named in China, and actress Fan Bingbing became the company’s first ever
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:
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
“Scrapping ships and no new builds is the fastest road to recovery for the dry bulk market” BIMCO President Philippe Louis-Dreyfus comments on BIMCO’s latest market analysis: The dry bulk market could become profitable again in 2019 – but only if a series of extremely
The 'Big Three'—Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries—hold $42.1 billion in loans between them. The firms closed out 2015 with combined losses of more than $6 billion, their earnings reports revealed.
Statistics show an increase in the UK registered trading fleet for the first time in four years, rising by 8%. However, the figures also show a fall of 18% in UK owned tonnage. UK Chamber CEO, Guy Platten has welcomed these signs of nascent recovery in the UK Ship Register
The U.S. National Transportation Safety Board (NTSB) said it is set to launch a mission to recover the voyage data recorder (VDR) of sunken cargo ship El Faro. The VDR, belonging to U.S. flagged El Faro which sank during Hurricane Joaquin last October, was located April 26 in about 15
The U.S. Department of Transportation’s Maritime Administrator Paul “Chip” Jaenichen today joined Rhode Island Governor Gina Raimondo and Senator Jack Reed, along with state and local officials, to christen a new crane barge
During the Oceanographic Survey Vessel Conference in London, Damen Shipyards Group announced the introduction of a new range of Multi-Role Auxiliary Vessels (MRAV). The common theme running through the series is the provision of a basic platform offering reliable and cost-effectivemulti-role
The Electrolytic Cation Exchange Module (E-CEM), developed at the U.S. Naval Research Laboratory (NRL), provides the Navy the capability to produce raw materials necessary to develop synthetic fuel stock at sea or in remote locations.
The U.S. Navy's newest oceanographic survey vessel, USNS Maury (T-AGS 66), recently completed its maiden voyage from Pascagoula, Miss., where it was constructed at VT Halter Marine, to Port Everglades near Ft. Lauderdale, Fla. In Maury's first days at sea
Delaware State Police has taken delivery of its new dive boat, a RIBCRAFT 5.85. RIBCRAFT, manufacturer of professional grade rigid inflatable boats (RIBs), built the 19' RIB for the State Police's SCUBA team to be used in search and recovery missions in the many waterways of Delaware