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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 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

Tug Allision Causes Diesel Spill in Texas

 U.S. Coast Guard Sector Corpus Christi and the Texas General Land Office are responding to an oil spill at mile marker 667 on the Intracoastal Waterway near Port Isabel, Wednesday.   Watchstanders at Sector Corpus Christi received a report that the uninspected towing vessel Capt

Container Shipping Market has Bottomed Out

Photo: CMA CGM

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global

Ecospeed Strengthens Polar Code Compliance

The operational success of the 1995-built RRS Ernest Shackleton is an exemplar of the Ecospeed coating’s performance (Image: Subsea Industries)

Subsea Industries has received an order for its specialist hull and rudder coatings for application to a shallow draught anchor handling tug supply (AHTS) vessel under construction at Turkey’s Atlas Shipyard.    The hard-type coatings were selected amidst strong competition

Astican & Astander Continue to Invest

(Photo: Astican & Astander Shipyards)

Astican & Astander: pair of privately owned Spanish yards continue to invest in facilities and equipment   Astander and Astican are the two busiest privately owned shipyards in Spain carrying out heavy repairs and special conversion projects with a boutique style attitude towards

Vigor Delivers Two Pilot boats to M.E.

Image courtesy Vigor

Vigor expanded its growing portfolio of international sales with the delivery of two, 19m all-weather pilot boats to The Port of Duqm Company (PDC), SAOC, Sultanate of Oman. The Port has been undergoing a major multiphase expansion and the new pilot boats will play a key role in ensuring the

Rickmers Maritime Trust May Face Liquidation

Image: Rickmers Trust Management Pte. Ltd

[ Updated ] The Singapore-based Rickmers Maritime Trust has come to a sitatuation where the choice is between restructuring the securities in the company to less than half their current value or shutting down.  So it has warned the investors that if its proposed debt restructuring

Ocean Endeavor Repair Completed

(Photo: Harris Pye Engineering Group)

Harris Pye Engineering Group completed repair works during the two-stage multi-million dollar Diamond Offshore demobilization project for its semi-sub rig Ocean Endeavor from the Black Sea, which completed its contract in January 2016. The initial phase of the repair work

FSI: Two New Products to Find, Recover Autonomous Assets

FSI Pinger. (Photo: Falmouth Scientific, Inc.)

Falmouth Scientific, Inc. (FSI) is pleased to offer two new products to assist in the relocation and recovery of autonomous underwater systems and assets:   -- SAF-553 Stand-Alone Flasher   -- ELPF-553 Flash-Pinger   These are small, lightweight, battery-powered

MOB Device for Immediate Alert for Fast Response

ALERT2 Man-Overboard Alarm System from Emerald Marine Products  Photo Emerald Marine

Professional mariners know the life-threatening hazards of falling overboard, but may not consider how critical the recovery window is, especially with a moving vessel. Compact and easily carried on a PFD, the ALERT2 Man-Overboard Alarm System from Emerald Marine Products immediately sets off

Polaris: World´s First LNG-Powered Icebreaker Delivered

(Photo: Arctech Helsinki Shipyard)

Arctech Helsinki Shipyard delivered the most powerful newcomer in the Finnish Icebreaker fleet, icebreaker Polaris, to the Finnish Transport Agency on September 28th, 2016. The Finnish Transport Agency handed the vessel over to Arctia Icebreaking Oy

CNRSE Orders Evacuation In Preparation for Hurricane Matthew

Matthew is a category 4 hurricane on the Saffir-Simpson Hurricane Wind Scale. Some fluctuations in intensity are possible this weekend, but Matthew is expected to remain a powerful hurricane through Sunday. (U.S. Navy photo)

In preparation for Hurricane Matthew, Commander, Navy Region Southeast (CNRSE) has ordered the mandatory evacuation for approximately 700 spouses and children on board Naval Station (NS) Guantanamo Bay, Cuba. Navy Region Southeast is coordinating with U.S. Southern Command and U.S

What the Heck is ‘Privity’?

Photo: NTSB

Is the Limitation of Liability Act Still Relevant?   In the aftermath of the El Faro disaster, that vessel’s owners exercised their right to file a petition to limit their liability in accordance with the U.S. Shipowner’s Limitation of Liability Act, 46 USC §30501, et seq

Consolidation, Greater focus on Risk Management and Higher Finance Costs - BIMCO


BIMCO has today published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties. The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the severity of

Bimco Publishes Dry Bulk Crisis Report

Philippe Louis-Dreyfus. Photo: BIMCO

 BIMCO has published the next in its series of reports looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties.    The foundation for the new report follows the conclusion of BIMCO’s previous analysis – that due to the

Deviation Of MSC Services in Freeport Following Hurricane Matthew

Photo: Mediterranean Shipping Company

 Following the severity of Hurricane Matthew last week, Mediterranean Shipping Company (MSC) Freeport terminal operator in the Bahamas has temporarily halted operations, in order to repair cranes and ensure full safety and security within container yards.  

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