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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


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.


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


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


Telemar Scandinavia Takes Over Mobile Satellite Business from TeliaSonera Sweden

An international business group lead by Compagnia Generale Telemar S.p.A. in Italy and Lagumar Marine AB in Sweden has formed Telemar Scandinavia AB which has acquired 100 percent of the shares in Telia Maricom AB. The acquired Telia Company, operating under the new name of Telemar Satellite Services AB, is taking over all Telia’s businesses and activities within the area of mobile satellite communication, including Inmarsat, Iridium


SES Acquires TransGulf Tech

Seismic Equipment Solutions (SES) announced it has acquired TransGulf Tech, a marine seismic air gun and lead-in termination specialists, which holds certification in high-pressure air systems and possesses extensive experience in back deck design and rigging. The acquisition expands SES' Marine and Transition Zone capabilities by providing highly specialized technical support solutions for the marine seismic industry.


Iconic Star Ferry in Move to New Wan Chai Pier

A Star Ferry: Photo courtesy of the owners

With effect from the first departure on Saturday 30 August 2014, Hong Kong's “Wan Chai – Tsim Sha Tsui” ferry service will operate from the new Wan Chai Ferry Pier. The existing Wan Chai (East) ferry Pier will be closed simultaneously, informs the Star Ferry Company. Star Ferry


EMGS Reports 2Q and 1H 2014 Results

CEO of EMGS, Roar Bekker

  Electromagnetic Geoservices ASA's (EMGS) reported revenues of USD 42.5 million in the second quarter 2014, down from USD 61.3 million in the first quarter this year and from USD 44.4 million in the corresponding quarter last year. Contract sales totaled USD 35


CIMC Raffles' COSLInnovator is "Rig of the Month"

CIMC Raffles Semisubmersible Drilling Rig Unit

 In July 2014, the CIMC Raffles North Sea semisubmersible drilling rig unit, COSLInnovator, was awarded as "Rig of the Month” again by STATOIL. It is the fifth time that the CIMC Raffles semisubmersible drilling rig unit acquired this accolade after COSLPioneer being awarded as


Star Bulk to Acquire 34 Drybulk Vessels

Photo: Star Bulk

Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp


First Grain Shipload Leaves ADM Brazil Port

Loading grain: Photo Geograph cr. Bob Jones

The first loaded vessel has departed Archer Daniels Midland Company’s (ADM) new export terminal in Barcarena, in the northern Brazilian state of Pará. ADM explains that the terminal is a significant addition to ADM’s expanding logistical network in Brazil


NGL Energy, TransMontaigne End Talks on Acquisition Proposal

NGL Energy Partners LP and TransMontaigne Partners LP said on Friday they have terminated discussions on NGL's non-binding proposal to acquire the outstanding common units of TLP, according to a press release. The discussions were terminated after the Conflicts Committee of TransMontaigne GP


GasLog Partners' First Option Vessels Acquisition for $328 mi

Image

  GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder


FPA Customs Brokers Acquired by Livingstone International

Toronto-headquartered Livingston International says it has acquired New York-based FPA Customs Brokers, Inc. “We look forward to welcoming the FPA team and their clients into the Livingston family,” said Livingston CEO Steven C. Preston.


Woodside Acquires Exploration Acreage in Gabon

Woodside Acquires Exploration Acreage in Gabon

  Woodside has acquired a 40% participating interest in an exploration, exploitation and production sharing contract (EEPSC) for Block F15 in the Gabon Coastal Basin. Block F15 is located 140 km off the south-western coast of Gabon and covers over 2,700 km²


PM to Lay Foundation of JNPT's SEZ on 16th August

JNPT

  The Prime Minister Narendra Modi will lay the foundation of a Port- Based Multi-product Special Economic Zone (SEZ) at the prestigious Jawaharlal Nehru Port Trust (JNPT) at Sheva, Navi Mumbai on Saturday, August 16, 2014. The proposed industrial infrastructure in 277 hectares with a


Two New Contracts for Optimus Seventh Generation

Optimus Seventh Generation Chief Executive Derek Smith

Optimus Seventh Generation Ltd., an Aberdeen headquartered behavioral change consultancy, recently secured two contracts to provide safety leadership training to clients including Bibby Ship Management in the North Sea, and a new Asia-based client.


Eagle Bulk Shipping Files for Bankruptcy

Photo courtesy of Eagle Bulk Shipping

Eagle Bulk Shipping filed for bankruptcy on Wednesday, the latest in a string of shipping companies to make a Chapter 11 filing, and said it reached agreement with its lenders to cut its debt by $975 million. The U.S. company said in a statement that creditors who hold more than 85 percent of


Long History of Canals in Egypt Linking Europe and Asia

Egypt said on Tuesday it plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia. Here is a brief history:


Actera, Esas Buying UN Ro-Ro from KKR

Turkish investment firms Actera Group and Esas Holding have signed an agreement to acquire ferry operator UN Ro-Ro from private equity firm KKR & Co LP, the Turkish companies said in a statement on Tuesday. UN Ro-Ro, KKR's sole investment in Turkey


Armed with New Technology, Oil Drillers Revisit Gulf of Mexico

Advances in drilling technology are reviving the prospects of oil companies in shallow parts of the Gulf of Mexico, helping to squeeze more from older fields while the U.S. shale bonanza lures others onshore. Apache Corp and a handful of smaller independent companies are using seismic surveying






 
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