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Oceaneering Acquires New Vessel

Oceaneering International, Inc. (OII) has purchased the Gulf Quest for conversion into a 145-ft. dive support vessel. Built in 2001, and renamed the Ocean Quest, the vessel will be upgraded in spring 2003 and then become available for work in the Gulf of Mexico. When completed it will feature: 2,100 sq. ft of deck space, 24 person accommodations (in addition to vessel crew), dive support equipment installed below deck, marine rated API 10 ton crane on the stern, 24 hr. operational capacity and built-in, below deck, 6 X 6 jet pump After conversion, the Ocean Quest will be ideally suited for Inspection, maintenance, and repair (IMR) activities on pipelines & platforms in water depths down to 300 fsw.


NOAA Seafloor Mapping Project Delivers Diverse Data

Bathymetric Survey Long Island Sound: Image courtesy NOAA

NOAA ship 'Thomas Jefferson' mapping Long Island Sound seafloor this summer contributes to a multi-level data gathering collaboration. In addition to updating NOAA’s nautical charts, ongoing collaborations in Long Island Sound will create products that depict physical, geological, ecological, geomorphological, and biological conditions and processes – all to balance the development of new ocean uses while protecting and restoring essential habitats.


Malaysia Seeks to Develop Shipbuilding

Development of marine engineering related industries, including shipbuilding and repairing, is an important sector the maritime industry in Sabah and Sarawak can exploit further, according to a report in the Daily Express, an East Malaysia newspaper. EMMC 2005 Organising Chairman, Tan Sri Halim Mohammad, according to the news report said a concerted and coordinated approach could be taken to first rehabilitate and rejuvenate some of the existing yards that have potential but have fallen


Navios Maritime Acquires Newbuilds

Navios Maritime Holdings Inc. (NYSE:NM) , a global, vertically integrated seaborne shipping and logistics company, announced the delivery of a new build Capesize vessel and the agreement to acquire another new build Capesize vessel. The Navios Antares, a 169,059 dwt Capesize vessel, was delivered to Navios Holdings' owned fleet on January 20, 2010 from a South Korean Shipyard. Navios Holdings agreed to acquire a new build Capesize vessel of 180,000 dwt


ACP Commemorates 13 Years of Local Administration

Panama Canal Administrator Jorge Luis Quijano.

The Panama Canal is celebrating 13 years under Panamanian administration. During this period, the Canal has strengthened its role in international commerce as a result of investment in the modernization of its infrastructure, its expansion and an alliance with its natural surroundings.   “The Panama Canal reaffirms its relevance in international commerce more than ever as a result of the decisions and actions that Panamanians have taken with regard to its management


Hempel Says 2013 Brought Record Profits

hampel.png

The Hempel Group announced it delivered a record net profit in 2013, placing it in a strong position to achieve its targets through a combination of organic and external growth. The Hempel Group’s continued focus on efficiency and profitability ensured it delivered a net profit of €65 million in 2013, despite volume growth of only two percent. The Group also secured an EBITDA result of €165 million, the highest in its history.


Wärtsilä Acquires Propeller Repair Business in the U.K.

Wärtsilä has acquired the UK-based propeller repair company McCall Propellers Ltd. The company's net sales are $12.7m with 33 employees. McCall Propellers is the largest marine propulsion support services company based in the U.K. specializing in emergency repair of propeller equipment. The acquired company has purpose-built repair facilities next to Glasgow Airport, and work is carried out either in the workshop or on site anywhere in the world.


Stabil Drill Acquires Two LA Firms

Lafayette, La.-based Stabil Drill, a Superior Energy Services Company subsidiary, has acquired to drilling tool firms based in Youngsville, La. Donnie Williams Tool Company and J&S Hole Opener Rentals, which both operate throughout the Gulf Coast, both were acquired by Stabil Drill.


NOAA Updates Cobscook Bay Area Chart

Northern Maine vessels will be able to navigate more safely around the dangerous Cobscook Bay thanks to an updated version of the area's nautical chart issued by NOAA. The latest chart includes a new detailed illustration-called a "chart inset"-of the waters around Falls Island, providing safer passage for mariners who transit those waters.  While NOAA cartographers had updated Chart 13394 (Grand Manan Channel) over the past several years


Teekay Forms New Tanker Company

Samba Spirit is one of Teekays four modern Samba Class shuttle tankers, designed for offshore loading in Brazil. (Photo: Teekay Corporation)

Teekay Tankers Ltd. and Teekay Corporation today jointly announced the creation of Tanker Investments Ltd. (TIL), which will seek to opportunistically acquire, operate and sell modern secondhand tankers to benefit from an expected recovery in the current cyclical low of the tanker market. TIL has completed a $250 million private equity offering in which Teekay Tankers and Teekay have co-invested $25 million each for a combined 20 percent ownership interest in the new company


Gulf Navigation Cuts Capital, Focus on Turnaround

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United Arab Emirates shipper Gulf Navigation said on Wednesday it had cut its capital by two-thirds and written off accumulated losses worth 1.1 billion dirhams ($300 million), key parts of a turnaround plan designed to solve its debt problems.


Ingalls Shipbuilding Celebrates Apprentice Graduation

Graduate apprentices 2014: Photo HII

Huntington Ingalls Industries (HII) informs that it has held a graduation ceremony for graduates of Ingalls Shipbuilding's Apprentice School. The ceremony, held at the Mississippi Gulf Coast Convention Center, celebrated the accomplishments of 72 students representing various crafts at Ingalls.


Rosneft Brasil to Acquire Controlling Stakes in Solimoes Project

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Rosneft Brasil (Rosneft subsidiary) and HRT O&G (HRT subsidiary) received approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) for the Rosneft Brasil transaction to acquire additional 6% in the Solimoes project.


Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio tankship: Photo courtesy of the owners

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report. Stock Buyback Program The company has purchased 6,327,861 of its common shares in the open market at an average


Dynagas LNG Completes Acquisition of Arctic Aurora

Dynagas LNG Partners LP

  Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd


Subsea 7 Selects BMT for Offshore Deal

Aasta Hansteen (Credit BMT)

Subsea 7 selected BMT Scientific Marine Services (BMT), subsidiary of BMT Group Ltd, to supply the riser monitoring system for the Aasta Hansteen Spar, approximately 300 km off the coast of Norway.  The system includes an innovative suite of remotely operated underwater vehicles (ROV)


Petrobras Could save $18K mln between 2015 and 2021

Four oil surplus subsalt areas could save $ 18,000 mln

  Brazil's Petrobras estimates it will save costs for 18,000 million dollars between 2015 and 2021 findings with direct contracting to explore four oil surplus subsalt areas of the country, the company said Friday . The company expects investment required would be for about 26


PPG to acquire Consorcio Comex

  PPG Industries, a world leader in protective and marine coatings, announced that it has reached a definitive agreement to acquire Consorcio Comex, S.A. de C.V. (Comex), an architectural and industrial coatings company with headquarters in Mexico City, Mexico. The transaction is valued at $2


Leo Motors Inc Takes Lead in Green Marine Propulsion

Leo Greentier Marines is the premier Korean E-outboard developer and manufacturer

  Leo Motors Inc. (LEOM) has acquired by merger 100% of its affiliate company, Leo Greentier Marines (LGM) through a share exchange. LGM is the premier Korean E-outboard developer and manufacturer. They bring LEOM an effective fossil fuel alternative to conventional boats dramatically


KVH Industries Acquires Videotel

Image courtesy of Videotel

A provider of training films, computer-based training, and e-Learning courses now part of KVH’s end-to-end solution for vessel connectivity, content and content delivery KVH Industries, Inc., (KVHI) today announced that it has acquired Videotel


Vard Holdings acquires STX Canada Marine Inc

Vard, Built on Trust

  Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, has acquired STX Canada Marine Inc., a leading marine engineering and design company with more than 30 years history in North America, for approx


KVH Industries Acquires Videotel

Martin Kits van Heyningen, KVH’s chief executive officer

  KVH Industries, Inc., acquired Videotel, a producer of high-quality training films and e-Learning services for the commercial maritime industry. Servicing over 11,000 vessels, Videotel is a market leader in the provision of maritime training services, offering video, animation


Demand for Coastal and Transoceanic ATBs Grows

OSG Vision.jpg

Along the way, ATBs gain speed, efficiency, safety – and popularity.   Operators of articulated tugs and barges, or ATBs, say they like the maneuverability, weather reliability, stability, speed of these units, and the manner in which the tug pushes the barge


Mitsubishi Takes Stake in UAE Water Firm Metito

Japan's Mitsubishi Corp and Mitsubishi Heavy Industries have acquired a 38.4 percent stake in water and wastewater project developer Metito Holdings for an undisclosed sum, the United Arab Emirates-based firm said. In addition, the Japan Bank for International Cooperation will provide up to $92


Teekay LNG Acquires Interests in Four LNG Newbuildings

Photo coutesy of Teekay LNG

Teekay LNG Partners L.P. announced that it has acquired from BG Group ownership interests in four 174,000 cubic meter Tri-Fuel Diesel Electric (TFDE) liquefied natural gas (LNG) carrier newbuildings, which will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China






 
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