Marine link
 

Bounce Back

A.P. Moeller Shares Bounce Back

Danish A.P. Moeller shares rebounded on Friday after news of its purchase of Dutch tug and salvage company Wijsmuller Group Holding on Thursday, brokers said. The two A P Moeller stocks, D/S 1912 and D/S Svendborg, traded at 69,500 crowns ($7,898) and 91,500 crowns respectively, 2.2 percent and 1.7 percent up from Thursday's close. The Copenhagen bourse's top 20 index KFX was down 0.4 percent at 316.15. Moeller shares have underperformed the KFX index by more than three percent the past 10 days, dented by news that Morgan Stanley within a year would cut the conglomerate's weight in its Denmark index. "The shares are rebounding on the Dutch news and it seems foreign sale pressure in the shares has faded," a trader said. Moeller's tug and salvage unit Svitzer said on Thursday it would buy Dutch Wijsmuller for around one billion crowns, a source said. The acquisition was seen increasing Svitzer's fleet to more than 220 vessels from the present 70.


Millennium Fever Should Drive Panamax Market Up

Fixing to cover the millennium holiday period is expected to kick-start the Panamax market in the fourth quarter, shipping broker Simpson Spence & Young (SSY) said. "The belief is that the fourth quarter will see a major improvement as people look to fix for the holiday period," SSY said in its latest monthly report. Capesize supply/demand fundamentals were also looking strong for the period, the broker said. However


E&P Spending 2000: Boom or Bust?

While the theoretical jury deciding which direction the offshore drilling market will take is still out, recent data suggests that the level of spending internationally will disappoint. Calling a 10.2 percent gain in spending may seem a bit harsh, particularly given the depths to which the market has sunken in the previous two years. But considering that the price per barrel has catapulted from the $10 level early in 1999 to the mid-20's by the beginning of 2000


Kirby Corp. Records Solid Results

Kirby Corp. has apparently had success incorporating Hollywood Marine, a move which effectively created the largest inland barge operator in the country. In February, the company reported earnings per share (EPS) of $0.38, versus $0.31 a year ago. While the company appears strong, poised for further growth, there are some concerns as noted in a research report from Lazard Freres & Co. LLC. Management expects the slowing U.S


Carib Tanker Rates Tank In New Year

Caribbean dirty tanker trades have sustained a massive hit, tumbling from W255 at the end of last week to W202.5, New York brokers said. "The holiday doldrums have left a lot of spare tonnage and that has affected rates. With both Christmas and New Year's Day falling on Mondays this year, we've had two short weeks in a row and the market simply couldn't take that," said one dirty tanker broker. He pointed to Exxon's fixture of the 70,000 tonr Lucky Lady from Covenas to the U.S


ABB Wins $26m Marine Repeat Order

Titan+Class_Bird+view.jpg

ABB won a $26m order to supply electrical power and propulsion systems for two next generation ‘Ramform’ vessels, capable of three-dimensional (3D) seismic data acquisition for deep sea resource exploration. The ships will be constructed by Mitsubishi Heavy Industries, and delivered in 2015 to Norway’s Petroleum Geo-Services ASA (PGS), a leading company in marine seismic and reservoir data acquisition, processing and analysis/interpretation services


MHI Contracted for 3D Seismic Survey Vessels

Ramform Seismic Survey Ship: Photo courtesy of MHI

Mitsubishi Heavy Industries, Ltd. (MHI) gets additional order to build 2 seismic vessels for Norway's Petroleum Geo-Services ASA (PGS). The order for the two vessels was placed upon exercise by PGS of the option right that was provided when two same type vessels were ordered to MHI in April 2011. The two newly ordered vessels are scheduled for delivery in the first and second half, respectively, of 2015. With this latest order


US Imports Above Average as Port Contract Talks Continue

Container lift: File photo

Retailers concerned by the lack of a West Coast longshoremen’s contract will continue to bring merchandise into the country at above-average levels this month but volume will drop from the record set in August, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates, and excerpted here. “The negotiations have made progress and retailers have been stocking up


Wales Reflects on Sea Empress Oil Spill

On the night of Thursday, February 15, 1996, shortly after 8pm the 147,000-ton supertanker Sea Empress had begun the final stages of its three-day voyage from Grangemouth, at the mouth of the River Forth, to Milford Haven docks and the Texaco refinery. As it was being piloted into port, the tanker, carrying a full cargo of North Sea light crude, ran aground on rocks in Mill Bay, just off St Ann’s Head, rupturing its oil tanks


Wall Street Worries About Cruise Fleet Pricing

The big cruise lines have been steadily filling their rapidly expanding fleets with passengers looking to escape an especially harsh North American winter, but as they get ready to release quarterly results, Wall Street is worried that ticket prices may not be high enough. Analysts are expecting profit declines for the winter quarter from the top three cruise lines, starting with industry leader Carnival Corp., which plans to release its fiscal first-quarter results on Wednesday (March 21


India to Develop Iran's Chabahar Port

The Port of Chabahar is a seaport in Chah Bahar in southeastern Iran

 India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers. The port of Chabahar in southeast Iran is central to India's efforts to circumvent Pakistan and


New Bahamas Northwest Chart Set Upgrade

Region_9_1_nv charts.jpg

nv charts announces the release of its newly updated chart set for Region 9.1, Bahamas Northwest, including Bimini and Berry Islands, Nassau to Abaco, and Grand Bahama, for 2015/2016 in paper and digital format.   The chart set includes a CD of digital charts


New Underwater Beacon for Ship's VDR

RJE International has a new line of underwater locator beacons for Voyage Data Recorders (VDR’s) on large ships.  The ELP-362M series of beacons is mounted on a ship’s black box to facilitate location and recovery of data analysis, in the event of an accident.


Ferry Strikes Piling in San Francisco

The U.S. Coast Guard said it is investigating an allision that occurred when the Ferry Peralta struck a piling at Pier 41 in San Francisco Sunday evening. The Peralta, operated by Blue and Gold Fleet, allided with a piling while backing out of the terminal at Pier 41 at approximately 5:45 p.m


USCG Investigates Allision of Ferry Peralta

ALLISION OF FERRY PERALTA AT PIER 41

  The Coast Guard is investigating an allision that occurred when the Ferry Peralta struck a piling at Pier 41 in San Francisco Sunday evening. The Peralta, operated by Blue and Gold Fleet, allided with a piling while backing out of the terminal at Pier 41 at approximately 5:45 p.m


Morgan Stanley says "no assurance" Rosneft Deal Will Close

  Morgan Stanley said on Friday that there is "no assurance" a deal to sell its physical oil trading business to Russian oil company Rosneft will close. The Wall Street bank cited a contractual requirement to get regulatory approvals by year end


USCG & Fishermen save Sinking Boat

...

  A Coast Guard search and rescue team and a local fishing crew worked together Saturday to save a fishing boat from sinking near Great Wass Island, Maine. Watchstanders at the Sector Northern New England Command Center in Portland


ExxonMobil Employees Donate $2.4 mi

Lamp-art signifying ExxonMobil Employees Support

  ExxonMobil and its employees and retirees in Northern Virginia raised more than $2.4 million for charitable organizations and local charities in the Northern Virginia area during the 2014 Employees’ Favorite Charities campaign.


USCG Rescues 4 Near Whittier, Alaska

...

The Coast Guard rescued four hunters stranded in Blackstone Bay near Whittier Monday. A 45-foot response boat-medium crew from Station Valdez safely transported the men and towed their skiff to Whittier. Watchstanders at the Sector Anchorage command center recieved a report from the men that


Stop Work Call at Australian Ports

A 4-hours stop work meeting has been formally notified by the MUA at the PB Towage operations at the ports of Sydney, Brisbane, Melbourne and Newcastle on Friday 10 October. This comes after PB Towage and the respective maritime unions failed to reach a settlement on the renewal of the PB


South, North Korea Exchange Naval Fire

A South Korean naval ship fired warning shots on Tuesday after a North Korean patrol boat crossed a disputed sea border off the peninsula's west coast and fired shots back before retreating, a South Korean defence official said. There were no casualties on the South Korean side, he told Reuters


TOTE Services Announces New Business

TOTE Services, Inc. won a five-year ship management contract by American Roll-on Roll-off Carrier (ARC).  The seven-ship ARC fleet consists of Pure Car Truck Carriers that carry cargo in U.S. – International trades for the U.S. Government and its various agencies


Portsmouth Shipyard Delivers USS Springfield

USS Springfield

  Portsmouth Naval Shipyard (PNSY) delivered USS Springfield (SSN 761) back to the fleet on Sept. 12 ahead of schedule and under budget.   PNSY conducted Springfield's docking continuous maintenance availability off-yard at Sub Base New London in Groton, Connecticut


USS Princeton Wins CNRSW 'Good Neighbor' Award

Officers and crew of guided missile cruiser USS Princeton (CG 59) bestowed with the 2014 Navy Region Southwest Project Good Neighbor flagship award

  The officers and crew of guided missile cruiser USS Princeton (CG 59) were named as the recipients of the 2014 Navy Region Southwest "Project Good Neighbor" flagship award for medium-sized sea duty commands, Sept. 29. Princeton was one of eight Navy Region Southwest units


Volvo Penta's New Keel Cooling Option

Volvo Penta is offering factory-built keel-cooled engines for the line of marine commercial inboard and sterndrive D4 3.7-liter and D6 5.5-liter engines.

Volvo Penta is offering factory-built keel-cooled engines for the entire line of marine commercial inboard and sterndrive D4 3.7-liter and D6 5.5-liter engines. The D4/D6 keel-cooled version uses a twin circuit design, with keel coolers for both the high-temperature engine block circuit and






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright