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Gill Netting

Burger to Build 60-ft Research Vessel

Photo courtesy Burger Boat

Burger Boat Company and the Wisconsin Department of Natural Resources signed a contract for the construction of a 60-ft research vessel to support expanded study and survey work of the Lake Michigan fisheries. Named after the fish genus that includes: Lake Whitefish and Lake Herring, the new RV Coregonus will be capable of gill netting and allowing fisheries staff to continue the work done on the previous research ship—the RV Barney Devine. The RV Coregonus will also have expanded features including onboard laboratory equipment, water tight compartments and a semi-planning hull along with capabilities for scuba operations. RV Coregonus was designed by SeaCraft Design in Sturgeon Bay and will be built by Burger Boat Company. “Although the RV Barney Devine was well-maintained, it is now nearly 75 years old and has become technologically obsolete with an increasing maintenance expense,” WDNR Secretary Matt Frank said of the previous research vessel also built by Burger. DNR fisheries staff worked closely with SeaCraft to develop the design that would maintain the ability to use gill nets during all seasons but in the most extreme sea conditions, while expanding its capabilities for research. Its capabilities include trawling and deploying hydroacoustic equipment. RV Coregonus is expected to be ready for use in 2011.


Burger Launches 60′ Research Vessel “Coregonus”

Motor yacht “Coregonus” Launched – A 60’ Research Vessel by Burger Burger Boat Company

Manitowoc, Wisconsin, U.S.A. – April 8, 2011 Burger Boat Company launches the R/V Coregonus, a 60’ Research Vessel for the Wisconsin Department of Natural Resources. R/V Coregonus is replacing the R/V Barney Devine, a steel Fishing Tug built by Burger in 1937.  SeaCraft Design in Sturgeon Bay, WI designed the R/V Coregonus for the Wisconsin Department of Natural Resources to meet the demanding requirements of the department


US Fishermen Seek Federal Action against Illegal Fishing

Florida Rep. David Jolly listens to Mark Hubbard, CEO of Hubbards Marina in Johns Pass, Fla., explain how foreign illegal fishing in the Gulf of Mexico is hurting commercial fishing throughout the Gulf region. (Photo: Gulf Coast Leadership Conference)

Gulf of Mexico fishermen are threatened by a daily wave of foreign illegal fishing vessels and the U.S. fishing industry is calling on Congress to take action, Florida business owners said April 8 at an event hosted by the Gulf Coast Leadership Conference.   Mexican fishing boats enter U.S. sovereign waters and illegally poach hundreds to thousands of fish at a time. Although the U.S. Coast Guard and Gulf state maritime law enforcement agencies have taken aggressive action to find and


U.K. Property Tax Changes Affect Shipping Interests

Photo: Moore Stephens

International accountant and shipping consultant Moore Stephens said many overseas companies, including some connected to shipping interests, will be among those affected by draft legislation from the U.K. government proposing changes to the taxation of U.K. residential property valued at £2m or more. Among other things, companies resident outside the U.K. will, for the first time, be liable to capital gains tax (CGT) on such property, with effect from April 6, 2013.


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


Stolt Offshore Releases 2Q Results

Stolt Offshore S.A. reported results for the second quarter and six months ended May 31, 2002. The net profit for the quarter was $3.4 million, or $0.04 per share, on net operating revenue of $ 334.5 million, compared with a net loss of $6.3 million, or $0.07 per share, on net operating revenue of $282.0 million for the same period last year. The weighted average number of common share equivalents outstanding for the quarter was 85.1 million compared with 87


Diana Shipping Nets 2Q Loss

Logo

  Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.7 million and net loss attributed to common stockholders of $7.2 million reported in the second quarter of 2014. Time charter revenues were $38.6 million for the second quarter of 2015, compared to $43.2 million for the same quarter of 2014


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


Stolt-Nielsen S.A. Reports Improved Third Quarter Results

Stolt-Nielsen S.A. (Nasdaq: SNSA; Oslo Stock Exchange: SNI) reported results for the third quarter and the nine-month period ended August 31, 2001. Net income for the latest quarter was $29.7 million, or $0.54 per share, on net operating revenue of $735.4 million, compared with a net loss of $0.3 million, or $0.01 per share, on net operating revenue of $607.8 million for the third quarter in 2000. The weighted basic average number of shares outstanding for the third quarter of 2001 was 54


Royal Caribbean Income Soars 27%

While its stock price remains in the doldrums, Royal Caribbean Cruises Ltd. nonetheless reported a 27 percent rise in second quarter 2000 net income along with a boost in capacity. RCCL, which is listed in New York and Oslo, said net income for the three months to June 30 jumped to $108.3 million from $85.3 million in the year-earlier period. Revenues rose to $680.7 million from $617.7 million, it said in a statement. It said the occupancy rate was 106


Gener8 Maritime Net Income Up 91%

Photo Gener8 Maritime

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share, for the three months ended June 30, 2016, a 91% increase compared to $19


Safe Bulkers Reports Q2 Loss, Expands Fleet

Photo: Safe Bulkers Inc.

 The Athens, Greece-based Safe Bulkers Inc. (SB) has reported a loss of $9 million in its second quarter.  It had a loss of 15 cents per share.   Net revenue for Q2 of 2016 decreased by 18% to $26.2 million from $31.8 million during same period in 2015.  


Navios Maritime Posts 2Q Profit

Photo: Navios Maritime Midstream Partners

 Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million.   It says revenue for three month period ended June 30, 2016 increased by $4.3 million to $22.7 million.   The company said it had net income of 28 cents per share


Scorpio Bulkers books Net Loss

Photo: Scorpio Bulkers

 USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.   The New York-listed dry bulk ocean shipper posted revenue of $17.4 million in the period.  


Diana Containerships in Red, Suspends Dividend

File Photo: Diana Containerships

 Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping company posted revenue of $8 million in the period.   Net loss for the six months ended June 30


Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday. The company's net profit for the three months to June 30 was 504.18 million riyals ($134.44 million), up from 342


GTT Cuts Outlook on Ship Construction Delays

French supplier of systems for marine transportation of liquified natural gas (LNG) Gaztransport & Technigaz (GTT) reported strong growth in its first half results on Thursday but cut its 2016 revenue outlook, blaming delays in the construction of some ships.  


PGS Revenue Slumps

Jon Erik Reinhardsen, President and Chief Executive Officer Photo Courtesy PGS

Petroleum Geo-Services ASA reported revenue fall in their recently released Second Quarter and First Half 2016 Results. It logged a healthy MultiClient Sales and continues to undertake cost reductions.   Highlights Q2 2016   * Revenues of $183.0 million, compared to $255


Little Rock Port Authority Reports June Shipping

Total barge tonnage through the Port of Little Rock in May was 66,000 net tons.  Dock activities continue to compare favorably to calendar year 2015. Logistic Services, Inc. has handled 274 barges during the first half of 2016 year and 410


Finland's Wartsila Sticks to 2016 Outlook

File Image: a Wartsila built marine engine (Wartsila)

Finnish ship engine and power plant maker Wartsila reported weaker-than-expected quarterly profit and order intake on Wednesday. Wartsila cited tight competition in the energy markets and overcapacity of ships. However, the company repeated its full-year profitability outlook


Indonesia Hopes Fishermen Can Net Its South China Sea Claims

Indonesia wants to send hundreds of fishermen to the Natuna Islands to assert its sovereignty over nearby areas of the South China Sea to which China says it also has claims.   President Joko Widodo has launched an unprecedented campaign to bolster fishing


Transocean Will Issue $1.25 Billion Of Notes Due 2023

Transocean Ltd. announced that its wholly-owned subsidiary Transocean Inc., has priced its previously-announced offering of senior unsecured notes.   Transocean will issue $1.25 billion in aggregate principal amount of senior unsecured notes due 2023 pursuant to Rule 144A/Regulation S


Keppel, Shell Form JV for Singapore LNG Bunkering

Photo: Keppel Corporation Limited

 Keppel Corp Ltd has entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore, says a report in Reuters.   The two companies will have a 50 percent stake each in the joint venture


TGS Provides Second Quarter Update

Kristian Johansen, Chief Executive Officer Photo TGS

Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2016 to be approximately USD 114 million. Multi-client investments for the second quarter are expected to be approximately USD 62 million.


BIMCO - Oil Product Tankers Earnings Decline as stockbuilding Slows Down

Oil Product Tanker Earnings

BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016. The oil product tanker market has reached a net fleet growth of 4.3m DWT so far in 2016






 
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