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 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, 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.
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
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
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 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,
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 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.
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.
How do you get an aircraft in the far reaches of the Arctic Ocean to the goal, if the compass does not provide reliable location data? Engineers aboard the research icebreaker Polarstern of the Alfred Wegener Institute programmed a Multikopter so that he can navigate near the North Pole
The U.S. Coast Guard Barque Eagle sailed into Portsmouth Wednesday on its yearly tour of ports. The Eagle will be available for free public tours Thursday from 10 a.m. - 4 p.m, moored across from Portsmouth City Hall. Representatives from the U.S
HKND Group, concessionaire of the Nicaragua Interoceanic Grand Canal project, signed an agreement with international geological and resource consultancy CSA Global of Australia in the headquarters of HKND Group in Hong Kong, entrusting CSA Global to conduct an aerial geological survey of the
The Massachusetts Maritime Academy’s annual salute to ‘the person of the year’ this year spotlights McAllister Towing and Transportation Co. and its leadership team. Set for September 10, 2015, MMA’s Salute to the Maritime Person of the Year – benefiting the MMA
Crowley hovercraft helps Hilcorp establish a new lifeline to Endicott, Alaska drill site About half a million barrels of oil is extracted each day from Alaska’s Prudhoe Bay oilfields. One of its drilling sites, Endicott, is located on a spit of land connected by the gravel Prudhoe
A minor part of the EU sanctions concerns shipping where cruise ships are prohibited from calling at the Crimea peninsula A general prohibition has been introduced against services related to tourism activities in Crimea and Sevastopol
Contship Italia Group has received a Life Time Achievement Award for Cecilia Eckelmann-Battistello, President of the Group and member of the board of Eurokai GmbH & Co. KgaA, the majority shareholder of Contship Italia SpA. The award has been bestowed during the 2015 Containerisation
Will the prestigious TransAtlantic speed and endurance record ever be broken? Should it? Twenty five years ago headlines around the world announced a new world record, the fastest crossing of the Atlantic Ocean, by a ship built in Australia.
The yacht Serenity, skippered by Fridtjov Bergmann, proudly flies the Bergen Shetland Blue Ribbon as first to finish this year’s race across the North Sea from Norway. He later received Lerwick Port Authority's trophy for first yacht over the line, at 20:56 hours on Thursday
Britons faced chaos in Calais last night after striking French sailors blocked the port for the second time in a week. Ferry services between Dover and Calais were cancelled again on Tuesday as MyFerryLink workers blockaded the French port.
DA-Desk has launched a new service under its PortSpend ManagementTM solution, the Proforma Disbursement Account (PDA) Approval Mobile App. The mobile app is available to download from Google Play and App Store. Tanker and dry bulk operators are inundated with tasks that often have a tight
A passenger vessel (Flying Cat) with a total of 253 persons on board was safely evacuated on Sunday after running aground off Tinos island in the Aegean Sea, Xinhua reported quoting the Greek Coast Guard. No injuries or severe damage have been reported while an evacuation operation
General cargo ship M/V Georgiana H, IMO number 8911413, was detained in Marina di Carrara, Italy on July 17, tallying as the ship’s third detention in the Paris MoU region within the last 24 months. The ship flies the flag of Republic of Togo which is black on the current
Gladding-Hearn shipbuilding, Duclos Corporation has delivered a second 70-foot tactical response vessel to New York City’s Harbor Patrol Unit. The two sister-ships were part of a five-boat order from the New York City Police Department (NYPD).
Matson, Inc., a U.S. carrier in the Pacific, took delivery of a new 65-ton gantry crane to replace one half its size at the company's Kodiak Terminal. Standing more than 340 feet tall at its peak with a boom spanning 164 feet, Matson's new crane is the largest in Alaska