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Flying High

Offshore Stocks Flying High As Boom Nears

It appears that the long awaited, much antipated and greatly debated offshore boom part II is prepared to launch again, as offshore drilling stocks surged on Thursday as U.S. crude oil prices hit a fresh nine-year high of $32.15 a barrel, fueling a second day of strong gains on Wall Street for the oilfield services sector. Drilling stocks across the board were flying high, some posting high single and low double digit gains for the day. At mid-day R&B Falcon Corp. was 1-1/2 higher at 18-1/8 and Santa Fe International Corp. was up 3 at 32-15/16 -- gains of roughly 9 and 10 percent respectively. It was the second straight day of substantial gains for oilfield services stocks, though in a reversal of Wednesday's pattern, drilling contractors saw their stock rise more sharply than that of diversified service providers. Analysts say the sector is poised to reap the benefits this year and next of the strengthening of international oil prices which has been under way since March 1999, and a report from Salomon Smith Barney predicts that this is just the beginning of a multi-year growth phase. The analyst increased his share price targets for 11 offshore drilling contractors and said he saw average upside potential for their stocks of 70 percent in the next 12-18 months. Top recommendations in the sector include Global Marine Inc., Noble Drilling Corp. and Transocean Sedco Forex Inc.


Integrated Systems Awarded Navy Contract

Integrated Systems Solutions Inc.* Pomfret, Md., is being awarded a $64,073,299 ceiling-priced cost-plus-fixed-fee, indefinite delivery, indefinite quantity contract for research and development services to increase the government’s understanding of Lighter Than Air platforms and their usage for sensor technologies. Services to be provided include experimenting with outfitting commercial blimps with sensors and a tactical data link


SeaJets Take Off For Grand Bahama Island

SeaJets, the Palm Beach-based Jetfoil will leave the Port of Palm Beach on November 6, inaugurated regular service of the jets into Grand Bahama Island. SeaJet Kara will depart from the Port Thursday through Monday at 9 a.m. and 4:30 p.m. with scheduled arrivals on Grand Bahama Island at 11 a.m. and 6:30 p.m., respectively. Departures from the Island will be at 11:30 a.m. and 6:50 p.m., arriving in Palm Beach at 1:30 p.m. and 8:30 p.m., respectively.


Minoan Shares Performance Rated

Schroders Securities said in a research report that it rates shares of Greek shipping company Minoan Lines perform in line with the market, although anticipated industry activity may drive the shares to new highs. Analysts said shares were fairly valued on current fundamentals. On the issue of market consolidation, Schroders expects Minoan to continue its prudent acquisitions and not rush into consolidation The merger of Attica Enterprises and Strintzis Shipping Lines could have a direct


Big E Underway to Conduct Carrier Qualifications

The nuclear-powered aircraft carrier USS Enterprise (CVN 65) transit the Philippine Sea during a Vertical Replenishment (VERTREP) with the Military Sealift Command (MSC) combat stores ship USNS San Jose (T-AFS 7). Enterprise and embarked Carrier Air Wing One (CVW-1) are currently underway on a scheduled six-month deployment in support of the global war on terrorism. U.S. Navy photo by Mass Communication Specialist Seaman Rob Gaston


Portuguese Flag Reports Strongest Growth Rate in Europe

Portugal’s second shipping register, the International Shipping Register of Madeira (MAR), is currently the strongest-growing flag in Europe. In the last six months, MAR’s fleet has increased by more than 60 new vessels representing net growth of 130% in terms of tonnage. Among the new entrants to the register are vessels owned by more than 20 of Germany’s leading companies. The growth has been achieved since Sociedade de Desenvolvimento da Madeira (SDM)


Motia Continues Product Tanker Expansion

Motia Compagnia di Navigazione has continued its expansion of modern product carrier tonnage with the delivery of the 29,000 dwt Elisa from STX Shipbuilding, Korea. The third of a series of four sister ships from the same yard building for Motia, the Elisa is an IMO II Product/Chemical Carrier and it will enter employment in the Handytankers Pool. Antonio Zacchello, managing director of Motia Compagnia di Navigazione,


Minoan Denies Reports Of Share Swap With P&O Princess

Greek ferry operator Minoan Lines dismissed press reports on Wednesday that cruise operator P&O Princess had expressed interest for its subsidiary Minoan Flying Dolphins (MFD). "I dismiss the content of the press reports. There is no official proposal by a foreign company for MFD. There is no proposal by P&O," a Minoan official said. It was reported on Wednesday that P&O Princess Cruises had expressed interest for a share swap


HMAS Launceston Assists Ill Mariner

The navy has provided medical assistance to a Chinese mariner who fell ill aboard a fishing boat.

  HMAS Launceston assisted in the medical evacuation of a critically ill Chinese mariner from a Chinese fishing vessel, 80 nautical miles south-east of Christmas Island in the Indian Ocean on the afternoon of 1 January, 2015.   The request for Launceston’s assistance came from the Australian Maritime Safety Authority, and the patrol boat embarked a civilian medical officer prior to departing.  


Subaru Air Freights Parts, Circumvents U.S. Port Delays

Fuji Heavy Industries Ltd , the maker of Subaru cars, said it would continue flying car parts to its U.S. factory beyond an initial arrangement through the end of February, as a labor dispute at U.S. West Coast ports delays shipments. The Japanese automaker had said earlier it was spending an extra 7 billion yen ($59 million) for one month from the end of January to fly components such as engines and transmissions on chartered cargo flights instead of shipping them.


This Day In Naval History: June 23

1812 - During the War of 1812, Commodore John Rodgers leads a squadron onboard USS President off New York until she battles HMS Belvidera. The first shot of the War of 1812 is fired by USS President during this engagement.   1861 - During the Civil War


Denmark Adopts Digital Ship Certification

Photo: Danish Maritime Authority

As of June 24, 2016, ships flying the Danish flag are being digitally certified, making Denmark one of the first countries to put an end to the 100-year-old tradition of certifying ships with paper certificates.   Until now, ship certification typically involved printing


Indonesia Bans Ships for Philippines

File photo: Indonesian Navy Show

 The Indonesian Government has banned vessels flying Indonesias flag from sailing to the Philippines following the latest hostage incident.   According to a report in AP,  Indonesia said, a halt on coal shipments to the Philippines will remain in place until Manila can secure its


Blue Angels Resume Schedule

Blue Angels Crest

The U.S. Navy Blue Angels will return to its 2016 demonstration schedule July 2-4 in Traverse City, Mich., Commander, Naval Air Forces announced. The Blue Angels temporarily stood down, canceling three weekend shows following a crash on June 2 during a practice in Smyrna, Tenn


Automated Skill Erosion

The U.S. Naval Academy at Annapolis in 2015 reinstituted a course of instruction in celestial navigation after abandoning it a number of years ago. Senior Chief Quarter Master Jonathan Myers teaches Command Master Chief April Beldo how to use a marine sextant during a demonstration of celestial navigation aboard the aircraft carrier USS Carl Vinson (CVN 70). (U.S. Navy photo by Travis K. Mendoza)

The increasing automation of vessels is causing some mariners to lose basic maritime skills.   Cruise ship Royal Majesty Grounding During dinner on June 10, 1995, the last night before the cruise ship Royal Majesty was due to arrive in Boston from its voyage to Bermuda


Human Remains and Belongings Found from Plane Crash at Sea

Egypt said on Friday its navy had found human remains, wreckage and the personal belongings of passengers floating in the Mediterranean, confirmation that an EgyptAir jet had plunged into the sea with 66 people on board.   President Abdel Fattah al-Sisi offered condolences for those on board


Full-term Certificates for “MV. Ceylon Breeze” from DNV GL

Ceylon Breeze. Photo: Ceylon Shipping Corporation (CSC)

 DNV GL has added to its registry as of March 2016 a new vessel built for Ceylon Shipping Corporation (CSC), a fully Sri Lanka Government-owned commercial enterprise and company with a 45-year-long tradition in shipping.    Bulk carrier “Ceylon Breeze” built at the


This Day In Naval History: May 31

1900 - Sailors and Marines from USS Newark (C 1) and USS Oregon (BB 3) arrive at Peking (now known as Beijing), China, to protect U.S. and foreign diplomatic legations during the Boxer Rebellion.   1918 - USS President Lincoln is torpedoed and sunk by German submarine, (U 90)


New Series of Trawlers Built to RS class

Construction of a new series of trawler-seiner pr. SK-3101R has been commenced at the Shipyard Yantar (Kaliningrad).    Project SK-3101R was designed by Skipskompetanse, Norway. The trawler is intended for fishery using bottom and pelagic trawls, bottom net and seiner net


Maersk to Use Drones to Resupply its Fleet of Tankers

Drones are being tested for inspections across the Maersk Group. Photo: Maersk Group

 Global shipping and logistics firm Maersk is looking at ways to use drones for delivering equipment to ships and is planning to conduct a test later this year, after using the technology in January for delivering cookies to a tanker at sea, says a report in PTI.  


This Day In Naval History: June 6

USS Antietam (CG 54) (U.S. Navy photo by James G. McCarter)

1850 - The brig USS Perry, commanded by Lt. Andrew H. Foote, captures American slaver Martha off Ambriz (near the city of Luanda), Angola, Africa.   1918 - After Allied troops take Hill 142 at Chateau-Thierry, France, during World War I


Flirtey's First US Ship-to-Shore Drone Delivery

Flirtey Drone. Image: Flirtey

 Flirtey has announced that it will be conducting what it believes will be the first US-based ship-to-shore drone delivery later this month.   The Nevada-based startup will conduct the first ship-to-shore drone delivery in the US on June 23 in Cape May, New Jersey.   


RV Polarstern Starts Arctic Season

The German polar research vessel Polarstern off the coast of Spitsbergen. (Foto Sebastian Menze)

Scientists from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI) are setting out with the research vessel Polarstern towards Spitsbergen, to use newly developed equipment in the Arctic Ocean. Autonomous instruments on the seabed


Wicked Tuna Captain Relies on Globalstar

Captain Dave Carraro, fisherman and competitor on the television show Wicked Tuna (Photo: Globalstar)

When it comes to fishing, Captain Dave Carraro of FV Tuna.com knows a thing or two, having run a successful charter business for the past 37 years, and is now a leading competitor and previous winner of the television show Wicked Tuna.   


Vietnam Coastguard Plane Goes Missing

A Vietnamese coastguard plane, which was searching for a missing fighter jet and its pilot, disappeared off the radar on Thursday, state media and a military official said, the second such setback in three days.   The CASA C212 plane carrying nine people went missing off the northern






 
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