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Star Bulk to Change Accounting Policy for Drydocking Costs

Star Bulk Carriers Corp. announced that starting with its fiscal first quarter ended March 31, 2008, it has elected to change its policy for accounting for vessel drydocking costs from the deferral method, under which the company deferred and amortized its drydocking costs over the estimated period of benefit between drydockings, to the direct expense method, under which the company expenses all drydocking costs as incurred. There have been no drydocking costs that the company has incurred prior to the first quarter of 2008, therefore, there will be no impact on the Company's prior financial statements as a result of the adoption of this change in policy. The Company believes that the new direct expensing method eliminates the significant amount of subjectivity that is needed to determine which costs and activities related to drydocking should be deferred. The first effect of this change in accounting policy, will appear in the Company's results for the quarter ended March 31, 2008. This change in accounting policy will not impact the Company's dividend distributions per share, given that the Company has a fixed dividend policy.

Detyens Completes First Drydocking For Celebrity

Celebrity Cruise Lines has completed its first ever drydocking with Detyens Shipyards, Inc (DSI). ZENITH docked at the Charleston, South Carolina facility from October 24, 2005 thru November 3, 2005. The scope of work included: regular drydocking maintenance along with sea valve renewals, blade seals and polishing, anchor chains, bow and stern thruster seals, overhauling of the bow thruster, the dismantling and overhauling of the stabilizers, the application of the silicon base AF coatings

Dockmaster's Training Seminar Offered

Heger Dry Dock will present its four-day Dockmaster's Training Seminar during May 2000 in Seattle, Wash. Held from May 2-5, the course will provide the latest information on dry docks, and drydocking techniques to dockmasters, marine engineers, naval architects and others involved in the docking vessels. Topics for discussion throughout the course will include dry dock accidents, types of docks, ship characteristics important to drydocking and docking procedures

Wightlink Extend Repair Agreement with A&P Southampton

Following the successful annual drydocking and refit of the Wightlink fleet of passenger/car ferries since January 2001, A&P Southampton and Wightlink have announced the signing of a revised annual drydocking and maintenance agreement for a further three years. This new agreement has been extended to include A&P Shipcare (Portsmouth) for all in service repair needs. A&P Southampton Managing Director, David Parry

BHO Refinances To Acquire Vessel

B+H Ocean Carriers Ltd. has acquired a 98,000dwt OBO, or combination carrier, committed to a Time Charter at $27,000 from delivery through March 13, 2006, plus or minus one month. The vessel will be delivered to the Company during April. This vessel, to be renamed Sachuest, has some particularly attractive attributes in the present market environment, the Company said, including the ability to trade as both a tanker and a dry bulk carrier, plus the fact that it has 24

Great Lakes Shipyard Awarded Ferry Repair Contract

Photo courtesy of Great Lakes Shipyard

Great Lakes Shipyard has been awarded a drydocking contract for Miller Boat Line’s M/V Put-In-Bay.   The ferry was hauled out using the 770-ton capacity Marine Travelift at Great Lakes Shipyard. The repair contract includes drydocking, inspection and repairs, hull cleaning and miscellaneous fabrication and steel repairs.   This is the first drydocking for M/V Put-In-Bay at Great Lakes Shipyard since Spring 2010

Keppel secures contract for Qatargas LNG carriers

Keppel Shipyard Limited (Keppel Shipyard) has entered an Alliance Service Agreement for the drydocking of a fleet of Moss Rosenburg (MOSS) type of Liquefied Natural Gas (LNG) carriers chartered by Qatar Liquefied Gas Company Ltd (Qatargas). The five-year agreement was signed with MO LNG Transport Co., Ltd (MOL), Nippon Yusen Kaisha Ltd (NYK) and Kawasaki Kisen Kaisha Ltd (K-Line). The vessels under the fleet agreement are Al Zubarah, Al Khor, Al Rayyan, Al Wajbah, Broog, Zekreet

Northrop Grumman Newport News Wins $6M Contract

Northrop Grumman Newport News, Newport News, Va., is being awarded a $6m cost-plus-fixed-fee modification under previously awarded contract to exercise an option for FY 08 advance Extended Drydocking Selected Restricted Availability (EDSRA) planning for USS Enterprise (CVN 65). Work will be performed in Newport News, Va., and is expected to be completed by February 2008. Contract funds will expire at the end of the current fiscal year

NNS Fixes Paradise's Pod

hen the 70,367-ton, 855 ft. (260.6 m) Carnival Paradise arrived at Newport News Shipbuilding for emergency repair on its Azipod propulsion system, it marked a milestone in ship repair history as no U.S.-based yard had ever performed work on the advanced pod system. The vessel arrived for drydocking at the yard on July 25, where the NNS crew prepared it in time for its next scheduled sailing date on August 20. MR/EN had the opportunity to speak with Becky Stewart, NNS' director of ship repair

Qatar Drydock has 7 LNG Carriers Under Repair

In Qatar, Nakilat-Keppel Offshore & Marine (N-KOM) shipyard has 7 ocean-going LNG carriers in its drydock for  repairs, overhauls As part of the Erhama Bin Jaber Al Jalahma Shipyard, N-KOM has successfully completed marine, offshore and onshore projects for both local and international clients, with LNG repairs making up almost half of these projects reports LNG World News. The seven LNG carriers (Al Jasra, Al Bidda, Al Wajbah, Dukhan, Al Gharrafa

Ship Operating Costs to Increase

Photo: Maersk Line

 Moore Stephens’ annual survey, which indicates the direction of ship operating costs, suggests that crew wages, repairs and maintenance, along with drydocking are the costs that are most likely to increase most significantly this year and next, says a report from BIMCO.  

Information on USCG BWM Regulation

  The United States Coast Guard (USCG) has issued the rule with regard to obligation of installation of ballast water management system for the vessels engaged in U.S. waters. The rule is entitled as "Standards for Living Organisms in Ship's Ballast Water Discharged in U.S

Gibdock Wins Exhaust Scrubber Project

Photo: Gibdock

Gibdock has secured an exhaust gas scrubber retrofit project covering five vessels operated by ship management major Norbulk Shipping and owned by global shipping group Vroon.   The contract represents a sizeable debut in specialized EGS work

Sembcorp Upgrades of Pacific Eden and Pacific Aria for P&O Cruises

Pacific Aria and Pacific Eden - Concurrent repair and upgrading of Pacific Aria and Pacific Eden at Sembcorp Marine Admiralty Yard in November 2015. Photo:  Sembcorp Marine Ltd

 Sembcorp Marine, a global leader in cruise ship repair, refurbishment and conversion work, has successfully upgraded the Pacific Eden (formerly Statendam) and the Pacific Aria (formerly Ryndam) at its Admiralty Yard.    The concurrent drydocking of these two cruise vessels at the

SEACOR Holdings Post 2Q Loss


  SEACOR Holdings Inc. today announced its results for its second quarter ended June 30, 2015. For the quarter ended June 30, 2015, net income attributable to SEACOR Holdings Inc. was $0.7 million, or $0.04 per diluted share. For the six months ended June 30, 2015

Gibdock Strengthens Position with German Owners

Photo: Gibdock

Gibraltar ship repair yard Gibdock said it is strengthening its impact within the German ship owning market. Working in partnership with its local agent, Hamburg-based Combitrade, the yard has managed to win a significant amount of business from some of the country’s shipowners and managers

N-KOM: New VLCC Size Floating Dock

Donnelly Tankers vessel inside new VLCC size floating dock

Nakilat-Keppel Offshore & Marine (N-KOM), the joint-venture shipyard of Keppel Offshore & Marine and Nakilat, continues to see strong interest for its ship repair services in 2015, having already delivered more than 450 projects for shipping and oil and gas companies over the past four

Oman Drydock Company Expands Rapidly

Dr Ahmed Al Abri - Oman Drydock Company Deputy CEO Operations WEB.jpg

Oman Drydock Company (ODC) is growing fast. In January, the yard hit an important milestone - its 300th drydocking. Harnessing the power of its new $1.8 billion, 1.3 million sq. m. shipyard it aims to become a leading shipyard in the Gulf over the next five years

Wah Kwong Acquires DNV GL's ShipManager

Wah Kwong Ship Management and DNV GL - Signing ceremony

  Wah Kwong Ship Management (HK) Limited will adopt DNV GL’s ShipManager integrated fleet management software suite to further improve operational efficiency, data transparency and safety reporting. Wah Kwong is a leading provider of maritime transport in the bulk carrier

Wah Kwong Adopts ShipManager

The signing ceremony. (DNV GL)

Wah Kwong Ship Management (HK) Limited will adopt DNV GL's ShipManager integrated fleet management software suite to further improve operational efficiency, data transparency and safety reporting.   Wah Kwong is a provider of maritime transport in the bulk carrier, tanker and LPG segments

Crowley Awarded MSC Contract for ROCON Fleet

Crowley Maritime Corp.’s government services group has been awarded a $130 million technical management contract for five U.S. government-owned, Military Sealift Command (MSC) Roll-On/Roll-Off and container ships (ROCON). The contract will see Crowley provide full turnkey operation and

Thordon’s COMPAC for US’ Largest Containerships

Artist impression of Matson’s Aloha-class containership (Image: Matson)

Thordon Bearings has signed a contract to supply COMPAC seawater-lubricated propeller shaft bearing solutions to two Jones Act containerships under construction at the Aker Philadelphia Shipyard Inc. (APSI) for Matson Navigation Company, Inc.   

GLS Wins Multi-Vessel USACE Contract

Photo courtesy of Great Lakes Shipyard

Great Lakes Shipyard has been awarded a contract by the United States Army Corps of Engineers (USACE) Detroit District for the drydocking and repairs of the Floating Plant, based at the Detroit Field Station. The shipyard will perform routine drydocking

Three USACE Vessels Drydocked at Great Lakes Shipyard

Photo: Great Lakes Shipyard

Great Lakes Shipyard announced it has been awarded a contract from the United States Army Corps of Engineers (USACE) Detroit District for the drydocking and repairs of the Floating Plant, based at the Detroit Field Station.   The shipyard will perform routine drydocking

Ship Operating Costs on the Rise

File photo

Vessel operating costs are expected to rise in both 2015 and 2016, according to the latest survey by international accountant and shipping consultant Moore Stephens, which found cost categories likely to increase most significantly include crew wages, repairs and maintenance and drydocking

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