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.
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
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
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
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
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
FirstWave/Newpark Shipbuilding was awarded a contract by Blessey Marine Services of Hanrahan, La. for the construction of a 30,000-bbl capacity double-hulled tank barge. Measuring 298 x 54 x 13 ft. (90.8 x 16.4 x 3.9 m) the vessel will be built at FirstWave's Greens Bayou Facility for a June 2000 delivery. FirstWave was also granted a contract by Global Industries of Carlyss, La. for a scheduled drydocking and routine regulatory maintenance of the Small Water-plane Area Twin Hull (SWATH)
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
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
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 announced the installation of a new state-of-the-art plasma cutting machine, the Plate Pro Extreme 3100. The addition of this cutting table expands the range of services available to its customers and improves the efficiency of Great Lakes Shipyard operations
Damen Shiprepair Brest (France) received her seventh LNG booking for the drydocking, maintenance and repair of the LNG carrier BachirChihan. The Hyproc Shipping owned and managed vessel will arrive November 25. The work scope on the BachirChihaniis extensive and reaches close to 30,000 man-hours
Last month Hydrex installed Propeller Boss Cap Fins (PBCF) on two tankers during their respective stops in Ghent and Antwerp. As a result of the underwater operation, the ships will not have to wait for their next drydock visit to start benefitting from the fuel savings the PBCF’s will
Ship Finance International Limited announced its preliminary financial results for the quarter ended September 30, 2013, reporting preliminary 3Q 2013 results and quarterly dividend of $0.39 per share Hamilton. Highlights Declares third quarter dividend of $0.39 per share
BAE Systems Norfolk Ship Repair, Norfolk, Va., awarded Navy contract by US Department of Defense to drydock 'USS Wasp' (LHD 1) and work on repairs and maintenance. The $110,781,296 undefinitized contract action has been awarded as a modification to a previously awarded contract
Great Lakes Shipyard has been awarded a contract by the U.S. Fish and Wildlife Service, an agency of the Department of the Interior, for the 5-year drydocking and inspection of the R/V SPENCER F. BAIRD. The Shipyard hauled out the research ship using the 770-ton Marine Travelift
Great Lakes Shipyard was awarded a contract by the U.S. Fish and Wildlife Service (FWS), an agency of the Department of the Interior, for the five-year drydocking and inspection of the RV Spencer F. Baird. The Shipyard hauled out the RV Spencer F. Baird using the 770-ton Marine Travelift
Wilhelmsen Ships Service (WSS) announced the launch of a new service for the ship repair market. The offer aims to streamline drydocking operations by allowing customers to take advantage of integrated ships agency, safety and equipment services from a single source.
Environmentally acceptable lubricants required in Oil-to-Sea interfaces where technically feasible. With the recent release of the 2013 Vessel General Permit (VGP), vessel owner/operators must review their operational practices for incidental discharge of lubricants to the marine environment
Great Lakes Shipyard is completing the replacement of the main propulsion control system on the United States Coast Guard Cutter Mobile Bay. This work marks the final installation under a five-year contract with the USCG’s Engineering Logistics Center, Baltimore, Md
Among the latest Department of Defense, Navy, contracts, Ocean Ships Inc. of Houston is awarded a contract modification for operation & maintenance of 8 RoRo ships, and Colonna's Shipyard for drydocking and major refit of 'USS Shamal' (PC13).
The U.S. Brig Niagara, Erie, Pennsylvania’s Flagship, arrived at Great Lakes Shipyard for routine drydocking and repairs. The vessel was hauled out using the Marine Travelift, and the work on the vessel will be completed in approximately two weeks.
Rolls-Royce has signed a contract to supply thrusters and deck machinery for two semi-submersible drilling rigs to be built at Samsung Heavy Industries in Korea for Stena Drilling. Rolls-Royce reported the value of the contract to be around £22.5 million.
Vessel operating costs are expected to rise by more than 3.0% in both 2013 and 2014, according to a new survey by international accountant and shipping consultant, and Maritime London member, Moore Stephens. The survey is based on responses from key players in the international shipping industry
Miller Boat Line’s ferry, M/V South Bass, is receiving its routine five-year drydocking and USCG inspection at Great Lakes Shipyard. The vessel was hauled out using the Marine Travelift, and the work on the vessel will be completed in two to three weeks.