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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

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

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.

ACP Commemorates 13 Years of Local Administration

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

Crowley Acquires Alaska Fuel Distribution Businesses

Crowley acquired the Alaska-based fuel distribution business of Northland Fuel, LLC. The purchase consists of the assets of Yukon Fuel Company, Northland Vessel Leasing and the stock of Service Oil and Gas, Inc. Crowley has also acquired the assets of Yutana Barge Lines, LLC from an affiliated company. The acquired businesses will be added to Crowley's newly formed Petroleum Services business segment. Service Oil and Gas will continue to operate under that brand name

Wärtsilä Acquires CGL

Wärtsilä has acquired an engine component reconditioning company CGL Industries Ltd. in Canada. The deal was closed September 30th, 2002. The acquisition consists of the marine engine repair and reconditioning business and workshops. The sales volume of the acquired company is approximately EUR 4.0 million and number of employees is 57. "CGL's strong position in the marine equipment service field as well as the broad range of products and services available are

Global Oceanic Carriers Acquires Two Ships

Global Oceanic Carriers Ltd, the AIM-listed Greek dry bulk shipping company, said it is acquiring two more ships and is proposing to enter into new ship management agreements for its entire fleet.The company, which did not disclose the value of the deal nor disclose the terms of the management proposal, added it has appointed Jefferies International as its sole nominated adviser and broker with immediate effect. (Source: AFX)

Quintana Takes Delivery of Vessel

Quintana Maritime Limited took delivery of a Kamsarmax bulk carrier, Pascha, from Tsuneishi, a Japanese shipyard. Pascha has a carrying capacity of 82,300 deadweight tons (dwt) and is the tenth of the fourteen Kamsarmax vessels the company has agreed to acquire from Metrobulk. As previously announced, Pascha, together with four other vessels, is employed at an average daily rate of approximately $20,000 per day for 2007 under a master time charter with Bunge S.A.