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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


Moore Stephens: UK 2016 Budget to Impact Shipping, Offshore Sectors

Moore Stephens tax partner Gill Smith.

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 4Q Revenue Up

Henry Goodrich Courtesy Transocean

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


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


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


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


Diana Containerships Post Q4 2013 Loss But Pays Dividend

Image courtesy of Diana Containerships

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


Little Rock Port Authority Reports August Shipping

Total barge tonnage through the Port of Little Rock in August was 57,000 net tons.  Dock activities continue to compare favorably to calendar year 2015 as Logistic Services, Inc. has handled 347 barges during the first half of 2016 year and 560


U.S. meeting on ocean conservation nets $5.3 billion in pledges

U.S. Secretary of State John Kerry,

International participants at a high-level conference on the world's oceans pledged more than $5.3 billion for conservation and designated vast areas as protected waters, U.S. Secretary of State John Kerry said on Friday. More than 90 countries took part in the two-day conference


Star Bulk Announces $51.5M Offering Common Stock

Courtesy Star Bulk Carriers Corp.

Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) today announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock. The Company intends to use the net proceeds from the offering for general corporate


MN100: NABRICO

(Image: NABRICO)

The Company: From the design of barge accessories and deck fittings to the day-to-day commitment to customer service, NABRICO is one of the most highly respected names in the water transportation industry. NABRICO started building bridges in 1902 and built its first piece of floating equipment


MN100: Jagco Industries

(Photo: Jagco Industries)

The Company: Jagco Industries is a manufacturer of Flexible metal hose assemblies for automotive, Inland Marine, industrial, trucking & Rail. It also manufactures “UNI-FLEX” exhaust couplers for cars & trucks. More familiar to workboat clients


MN100: Viking Systems International, Inc.

(Image: Viking Systems International, Inc.)

The Company: Viking Systems International is a worldwide leader in the advanced design, analysis and 3rd party verification of structures, focusing on the offshore oil and gas industry, commercial ship business, and the military and defense community


Investment Cuts Slow Rebound for Offshore Oil Services -Bourbon

Photo: Bourbon

French oil services company Bourbon said on Thursday that any rebound in oil and gas prices will take a while to reach companies in the offshore marine sector because of deep cuts in investments during the prolonged oil downturn.   Bourbon


K Line, The Next Takeover Target?

Photo: Kawasaki Kisen Kaisha, Ltd.

 Speculation has been mounting on possible taking over the Japanese shipping company Kawasaki Kisen Kaisha (K Line).   According to a FT report, analysts and investors have been baffled by the recent activities of Effissimo, Singapore-based fund had increased its stake in K Line to 37


Silverstream Air Lubrication Delivers Fuel Savings

Photo: Silverstream Technologies

Silverstream Technologies and Shell has confirmed consistent net efficiency savings in excess of 4% in fuel consumed, following the successful long-term operation of Silverstream Technologies’ proprietary air lubrication technology, the Silverstream System, on-board the 40


CMA CGM Posts Loss in Q2

Photo: CMA CGM

 Ocean Carrier CMA CGM reported a net loss of $128 million for the second quarter of 2016, compared to a net gain of $156 million for the second quarter of 2015.       Its revenue declined to $3.5 billion ($3.3 billion excluding the contribution from Singapore’s Neptune


Ship Finance 2016 Q2 Reveue Falls

Photo: Ship Finance International Limited

 Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter.   The company reported net income of $38.81 million down from $46.8 million in the year-ago quarter.   


Seaspan Raises $80 Mn from Shares Sale

Image Courtesy Seaspan Corporation

Seaspan Corporation announced today the close of the sale of its previously announced public offering of 3,200,000 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares (the "Series G Preferred Shares") for gross proceeds of $80 million.


Asia’s Biggest Container Shipper Posts Loss

Photo: China COSCO Holdings Company Limted

 Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn net profit seen during the same period last year as excess capacity dragged down cargo rates.  


China COSCO Falls to H1 Net Loss

File photo: China COSCO Holdings Co Ltd

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday. COSCO Shipping reported a first-half loss of 7.2 billion yuan ($1.08 billion yuan) versus a profit of 1


UASC's Dismal Performance

Photo: United Arab Shipping Company

 United Arab Shipping Company (UASC), which is close to merging with Hapag-Lloyd, revealed enormous deficits and a massive debt in its key financial figures, says Alphaliner.   The first-time revealed UASC financial figures uncover more than $4bn of debt incurred during a major fleet






 
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