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Gill Nets

Alaskan Stabicraft Fleet Covers 18,000 Nautical Miles

659 Wheelhouse Fleet

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


Sunken B.C. Ferry Report to be Released September

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


Earnings Down for Most Oil Companies

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.


Transocean Sedco Forex Reports Third Quarter 2001 Earnings

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


Hawaii Ship Repairers Fined $700,000

The U.S. Environmental Protection Agency and the Hawaii State Department of Health settle with Marisco Ltd for pollution offences. The violations took place at Marisco's ship repair and drydock facilities at Kalaeloa Barbers Point Harbor on Oahu. This is the largest Clean Water Act civil penalty against a ship repair facility nationwide.
 The settlement, a consent decree, was lodged with the U.S. District Court for the District of Hawaii and is subject to a 30-day public comment period and


WESMAR to Introduce New Trawl Systems

385_500_300_180 Khz sleds web.jpg

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


Stealthgas Reports 2Q Results

Stealthgas Inc., a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced its unaudited financial and operating results for the quarter and six months ended June 30, 2007. For the quarter ended June 30, 2007, net revenues amounted to $19.9m and net income was $5.7m an increase of $2.7m or 15.7% and an increase of $1.1m or 23.9 percent respectively from net revenues of $17.2m and net income of $4


International Shipholding Reports Fourth Quarter Results

International Shipholding Corporation reported results for the year and quarter ended December 31, 2001. Net loss for the fourth quarter was $1.5 million as compared to net income of $775,000 for the fourth quarter of 2000. For the year ended December 31, 2001, the Company reported a net loss of $64.4 million as compared to net income of $836,000 during the year ended December 31, 2000. The annual results for 2001 reflect a previously reported asset write-down on "Assets


CP Ships to Restate Previous Finance Results

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


Lakes Limestone Trade Down

Cleveland—Shipments of limestone on the Great Lakes totaled 3.5 million net tons in November, a decrease of six percent compared to both a year ago and the month’s five-year average. Demand is waning in light of the deteriorating economy. However, lack of adequate dredging impacted those stone cargos that did move in November. A large U.S.-Flag tug/barge unit that has carried nearly 35,000 net tons of stone in a single trip averaged only 31


Great Lakes Towing Hosts Networking Event

Photo: The Great Lakes Towing Company

The Great Lakes Towing Company hosted a WIRE-Net networking event at Great Lakes Shipyard in order to celebrate manufacturing and innovation in Cleveland and Northeast Ohio. More than 100 attendees gathered on the banks of the Cuyahoga River to connect with other manufacturing professionals


Cargotec's January-June 2014 Interim Report

Cargotec's January-June 2014 interim report show that orders grew but operating profit was burdened by project cost overruns in Kalmar April-June 2014 in brief Orders received increased 19 percent and totalled EUR 993 (833) million. Order book amounted to EUR 2,285 (31 Dec 2013: 1


SABIC Q2 Profit Rises 7% as Expected

  Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent rise in second-quarter net income on Sunday, matching analysts' forecasts. It earned 6.46 billion riyals ($1


Yara 2Q Results Report Improved Margins

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  Yara International ASA delivered strong second-quarter results, with improved European commodity margins due to lower gas price. The results were impacted by lower nitrate deliveries, but NPK deliveries and value-added premiums remained strong.


Ithaca Energy Operations Update Ahead of Shareholders Meet

Ithaca logo

  Ithaca Energy Provided its operations update ahead of today’s Shareholders Meeting. The details are as follows. The third development well on the Stella field, well 30/06a-B1X (“B1”), has been successfully drilled to a total measured depth subsea of 16,185 feet


W. Palm T-Ball Flies “Maritime Reporter” Flag

The Maritime Reporter 6U T-ball team.

After 75 years another first: An MR-sponsored 6U T-Ball Team West Palm Beach - The boys of summer are now proudly wearing the red & black of Maritime Reporter. With this publication’s backing, a 6U T-ball team is setting course for a championship.


KNOT Public Share Offering to Fund Tankship Acquistions

Knot shuttle tankship: Image courtesy of KNOT Offshore Partners

KNOT Offshore Partners says it has entered into agreements to acquire from Knutsen NYK Offshore Tankers AS all of the ownership interests in the companies that own and operate the shuttle tankers 'Hilda Knutsen' and 'Torill Knutsen'. At the same time KNOT announce the public offering of 4,600


NAO Exercises Option to Purchase Shares

Nordic American Offshore Ltd. (NAO) announced that the underwriters of the company's initial public offering, which closed on June 17, 2014, have exercised in full their option to purchase an additional 882,352 common shares. The sale of these common shares isexpected to close on June 26, 2014


Carnival Profit More than Doubles

Carnival Liberty (Photo courtesy of Carnival  Corp)

Carnival Corp, the world's largest cruise operator, said its quarterly profit more than doubled as costs fell. Net income rose to $106 million, or 14 cents per share, in the second quarter ended May 31, from $41 million, or 5 cents per share, a year earlier.


Carnival's Profit Forecast Down

Carnival Spirit (Photo courtesy of Carnival)

Carnival Corp, the world's largest cruise operator, forecast an adjusted profit below market estimates for the current quarter, blaming increased competition in the Caribbean. Shares of the company, which operates the Carnival, Holland America and Costa cruise lines, fell as much as 3 percent


STELLA B1 Well Flow Test Completed

04 Stella North Drill Centre Manifold Installation Operations (149)

  Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field


Fastnet to Farm in Tendrara Lakbir

Fastnet to farm in Tendrara Lakbir

  Fastnet, the UK and Irish listed E&P company focussed on near term exploration and appraisal acreage in Morocco and the Celtic Sea, announced that its wholly owned subsidiary Pathfinder Hydrocarbon Ventures Limited (Pathfinder) has entered into an amended exclusive option agreement


Shipping loan losses hit Norwegian bank DNB's earnings

Q2 net profit NOK 4.65 bln vs f'cast NOK 4.77 bln; loan losses NOK 554 mln vs fcast NOK 398 mln. Bank on schedule to fulfill capital requirements, but shares down 4.6 percent, Swedish bank shares lower. Higher-than-expected loan losses in the shipping sector ate into DNB's second-quarter


Whiting Petroleum To Acquire Kodiak Oil & Gas At $6 Bln

Photo Courtesy Kodiak Oil & Gas Corp

  Whiting Petroleum Corporation (NYSE: WLL) (“Whiting”) and Kodiak Oil & Gas Corp. (NYSE: KOG) (“Kodiak”) today announced a definitive agreement pursuant to which Whiting will acquire Kodiak in an all-stock transaction valued at $6


Good Profitability Noted in Wärtsilä H1 Interim Report

Wärtsilä 46DF Engine: Image courtesy of the manufacturers

Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2






 
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