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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


Burger Boat Delivers R/V Arcticus

R/V Arcticus (Photo courtesy of Burger Boat Company)

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.


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.


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


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


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


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


Manitowoc Reports 4Q Results

The Manitowoc Company, Inc. reported increased revenues and strong cash flow for the fourth quarter and full year ended December 31, 2002. Net sales for the fourth quarter were $400.4 million, increasing 47 percent from $271.8 million in the fourth quarter last year. Including special items, the company reported a net loss for the quarter of $25.1 million, or a loss of $0.94 per diluted share. Excluding special items, earnings were $5.3 million, or $0.20 per diluted share, compared with $8


Chevron Reports 1998 Net Income of $1.98 Billion

Chevron Corporation reported 1998 preliminary net income of $1.98 billion, down 39 percent from 1997 net income of $3.3 billion. Net income for 1998 and 1997 included net benefits of $31 million and $76 million, respectively, from special items. For the fourth quarter 1998, net income of $431 million included net charges of $72 million from special items. Charges associated with asset write-downs; reserves for environmental remediation and a litigation issue; and last-in


Strategic Sale of Braemar's H.O.

Braemar’s distinctive head office, sold for £9.5m

On 27 January 2015 Braemar Shipping Services Plc exchanged contracts for the sale of our leasehold interest in our Marylebone corporate headquarters to Greenhouse Sports Ltd for a net consideration of £9.5m before tax. The leasehold had a net book value of £4


Cosco Profits Boosted by Low Fuel Prices

Image: China Cosco Holdings

China Cosco Holdings ended 2014 in profitable territory, growing its net earnings by 50 percent to $56 million on the back of cost cuts, improved revenue and lower bunker fuel prices.  The company, the flagship unit of state-owned shipping conglomerate China Ocean Shipping (Group) Corporation


Stolt-Nielsen Q4 Profit Misses Forecast

A Stolt Tanker underway (Stolt-Nielson)

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market, even as lower fuel prices would help operations. Stolt-Nielsen's fourth quarter net profit fell to $13.1 million from $35


Keppel Q4 Profit Up; 2014 Profit Beats Street

Keppel Corp's full-year profit up 2 pct at S$1.9 bln. Singapore's Keppel Corp Ltd said fourth-quarter net profit rose 6.1 percent to S$725.9 million ($544.8 million), while its full-year profit rose 2 percent and beat analysts' consensus.


Euronav Announces IPO in the US

Photo: Euronav

Euronav NV announced the commencement of its underwritten initial public offering in the United States of 13,550,000 ordinary shares. The company will grant the underwriters a 30-day option to purchase additional ordinary shares representing up to 15% of the offered shares.   


Great Ships of 2014: R/V Neil Armstrong - Multifaceted Sea Explorer

 Two ships, $145m GPA designed Diesel Electric propulsion

The Ocean Class Auxiliary General Oceanographic Research (AGOR) vessel hull number 27 started its official life as the R/V Neil Armstrong, the first research vessel named after a space explorer.  The ship was designed by Guido Perla and Associates and built at Dakota Creek Industries (DCI)


Star Bulk's PO to Finance New Builds

Logo

  Star Bulk Carriers Corp. announced today that it plans to make an underwritten public offering of its common stock. The Company intends to use the net proceeds from the offering for its new building program and general corporate purposes.


Odfjell Announces Personnel Reductions

Photo courtesy of Odfjell

In an announced effort to improve its financial results through a more competitive cost structure, Odfjell SE began a review of all aspects of its business model in May 2014 targeting organizational changes to increase competitiveness in the chemical tanker market.  


Triyards Bags Liftboat Orders

  TRIYARDS Holdings Limited an offshore vessel fabrication and engineering solutions provider to the oil, gas (O&G) and marine industry, started the year on a promising note, armed with US$75.4 million in new liftboat orders. The latest liftboat contracts not only add to its orderbook


Navios Acquisition Announces Fleet Update

Photo courtesy: Navios

Tanker vessel owner and operator Navios Maritime Acquisition Corporation announced the delivery and employment of one VLCC and one MR2 product tanker and the employment of one VLCC and two product tankers. VLCCs The Nave Synergy, a 2010 Japanese-built VLCC of 299,973 dwt


A Commercial Marine Lender and Lessor’s Lexicon

Richard J. Paine, Sr., National Marine Sales Manager at Signature Financial LLC

We are often “not aware of what we do not know.” Nowhere is that adage more appropriate than in the world of marine finance, especially for the smaller workboat operator. Lost amidst the sometimes confusing language and ‘mumbo-jumbo’ that lenders and lessors use in


Asia-Europe Box Rates Fall 5.6 pct

File photo: a containership loading at dock.

Freight rates for container shipping from Asia to Northern Europe fell by 5.6 percent in the Monday through Wednesday period compared with last week, to $1,085 per 20-foot container (TEU), data showed on Friday. Rates on the route, which is the world's busiest for container shipping


GAC Norway Joins 2014 Gaselle List

Mikael Rodseth, General Manager of GAC Norway

GAC Norway AS has been added to the 2014 Gaselle List, a nationally-recognised catalogue of Norwegian businesses that have proven sound finances and sustained growth over a number of years. Introduced by the newspaper Dagens Naeringsliv, the List features companies that have demonstrated steady


Ship Finance Sells Drillship to Seadrill

Ship Finance International Limited announced that Seadrill Limited has exercised a purchase option for an ultra-deepwater drilling unit.   Ship Finance acquired the West Polaris in 2008 and chartered it to a subsidiary of Seadrill on a long-term bareboat charter where Seadrill was granted


ST Engineering Increase Stakes in Mexican JV

  Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has subscribed to a capital call of MXN7.5m (about S$0.7m) from GFM Electronics S.A. de C.V. (GFM Electronics)






 
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