The fleet of nine Stabicraft 659 Wheelhouse vessels delivered to Alaska at the beginning of the year have just completed their first 6 months of service. The vessel orders came at a special request from Saltwater Inc, a private organization that gathers data on wild life and fish stocks for the Alaskan Department of Fish and Game and by the National Marine Fisheries Service. The boats were sent to the US in semi assembled form from Stabicraft Marine’s Invercargill factory in New Zealand, where once in the US, went through final assembly and fit out before being launched in May. Saltwater Inc have been using the vessels this past northern hemisphere summer as observation boats to monitor the gill net fishery and the fishery’s interaction with sea mammals and sea birds. Saltwater Inc Vessel Manager, Chris Denker says that since launch the boats and their two man crews have been running consistently at least 4 days a week and have covered around 2000 nautical miles each. “In the Alaskan fishery, fishing begins at 12:00pm on Sundays. On a perfect weather day, crews can depart around 09:30 for the roughly 2-hour transit to the fishing grounds. At around 20 knots, the vessels are covering a lot of ground on a daily basis,” says Denker. Daily operational duties include transiting 40 to 45 nautical miles to active fishing grounds, working in close proximity to fishing vessels
Burger Boat Company delivered the R/V Arcticus, a 78-foot research vessel for the United States Geological Survey (USGS), on Friday, October 17, 2014. The Arcticus replaces the 38-year-old R/V Grayling and brings the USGS Great Lakes Science Center (GLSC) large vessel fleet up-to-date. The Arcticus will be stationed at the USGS base in Cheboygan, Michigan and incorporates modern marine standards and state-of-the-art technology to more safely and effectively conduct fisheries research.
Many oil companies reported a decrease in net income for the second quarter, compared to the previous year's results, although - in most cases - the second quarter still outperformed the first. While the decreases ranged in percentage, only a few companies' results were virtually unchanged from the previous year's performance. However, higher crude oil prices resulted in many companies' exploration and production net income actually increasing over the previous year.
The Transportation Safety Board hopes to have its final report on the sinking of the B.C. Ferries vessel Queen of the North ready by September, the National Union of Public and General Employees reported. Officials with the board are apparently anxious to establish a faster standard for issuing major reports by getting this one out within six months rather than waiting a year or longer to complete its work, as has often happened in the past
Transocean Ltd. Reports Fourth Quarter And Full Year 2015 Results:- Revenues were $1.85 billion, up from $1.61 billion in the third quarter of 2015; Operating and maintenance expenses were $794 million, down from $880 million in the prior period; Adjusted net income was $615 million, $1.68 per diluted share, excluding $4 million of net unfavorable items. This compares with $316 million, $0.87 per diluted share, in the third quarter of 2015, excluding $5 million of net favorable items
UK Budget 2016 provides surprises for shipping and radical measures for offshore maritime sector. Leading accountant and shipping adviser Moore Stephens says the UK Budget 2016 contains a number of surprise developments which are likely to be of interest to the shipping sector, as well as a radical set of measures which it is hoped will assist the offshore maritime oil and gas sector. The Government announced a further reduction in the rate of corporation tax
Transocean Sedco Forex Inc. announced that net income for the three months ended September 30, 2001 was $97.6 millionon revenues of $770.2 million. Net income for the quarter included a net after-tax gain totaling $7.5 million, resulting primarily from the sale of two Nigerian-based land rigs and the disposal of an inland drilling barge. Excluding the net after-tax gain, net income for the three months ended September 30, 2001 was $90.1 million
Further to its August 5 announcement that the release of its second quarter 2004 financial results has been rescheduled to 16th August, CP Ships Limited announced today that in conjunction with the release of second quarter 2004 results it will restate previously reported financial results. As announced in May, CP Ships began implementing a new SAP financial accounting system in January. The implementation has revealed some
WESMAR (Western Marine Electronics) announced today they will introduce two new trawl systems and five new sled options at Pacific Marine Expo in Seattle November 20-22 at Century Link Field Event Center. The TCS785 and TCS 385 trawl systems, with sled options, will be on display in Booth 933 along with WESMAR’s line of hull mounted sonar and commercial bow thrusters. Rolling out its largest group of trawl sonar options in its 50-year history
Greece-based container ship owners, Diana Containerships Inc. in financial results for the Fourth Quarter and Year Ended December 31, 2013 report a net loss of $19.8 million for the fourth quarter of 2013, compared to net income of $0.3 million for the respective period of 2012. The Company explains that the loss for the fourth quarter was mainly the result of $9.7 million of impairment charges for the vessel Sardonyx
Greece-based Safe Bulkers (SB) has reported a loss of $4.6 million in its fourth quarter. On a per-share basis, it has a loss of 9 cents. Net revenues for the fourth quarter of 2016 increased by 6% to $31.7 million from $29.9 million during the same period in 2015.
Teekay Offshore Partners has reported GAAP net income attributable to the partners and preferred unitholders of $92.0 million and adjusted net income attributable to the partners and preferred unitholders of $8.5 million in the fourth quarter of 2016.
With the ClarkSea Index around $9,000/day, and many if not most of the major shipping markets under severe pressure, it’s hard to escape the conclusion that the shipping markets are a tough place right now, with limited pickings to share between owners.
Qatar Navigation (Milaha), a maritime and logistics conglomerate based in Qatar, has reported a net profit of $195 million for the year ended December 31, 2016 compared to $300 million reported the previous year. The fall in the profit was mainly as a result of lower revenue from
The Shipping Corporation of India Ltd (SCI) has reported a net profit of Rs.7.25 crores for the financial quarter ended 31st December 2016 (Q3 FY16-17) as compared to a loss of Rs. 20 crores reported during the quarter ended 30th September 2016 (Q2 FY16-17)
Greece-based Diana Containerships has reported a net loss of $8.5 million for the fourth quarter of 2016, compared to a net loss of $8.8 million for the respective period of 2015. On a per-share basis, the company said it had a loss of 92 cents
In January 2017, following the completion of the sale of the MSC Cristina, Navios Maritime Partners repaid approximately $100 million of bank debt. Proforma for these repayments, net debt/book capitalization for December 31, 2016, has decreased to 36.5%
Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, reported a total net revenues of $7.3 million for the three month period ended December 31, 2016.
Odfjell SE today reported preliminary full year and Q4 2016 results, showing improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.
A feasibility study to look into the possible expansion of the Northeast Asia Logistics Information Service Network (NEAL-NET) is being undertaken in Cambodia, as part of a project co-funded by International Maritime Organization (IMO) and China.
LNG Demand Set to Outpace Gas Demand Growth from 2015 to 2030 Shell launches LNG Outlook Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year
New Zealand's largest freight gateway Port of Tauranga says it is on track to break the country's record for transporting more than one million containers in a single year. "Our results show the Port of Tauranga is continuing to reinforce its position as the country's premier
Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results. * Revenues were $974 million, up from $906 million in the third quarter of 2016 * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters
Nordic American Offshore (NAO) has announced an underwritten public offering of 33,333,333 common shares pursuant to the Company’s effective shelf registration statement. Morgan Stanley & Co. LLC, DNB Markets, Inc
Teekay LNG Partners has reported GAAP net income attributable to the partners and preferred unitholders of $84.4 million and adjusted net income attributable to the partners and preferred unitholders of $29.0 million in the fourth quarter of 2016.