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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


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


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


Ice-breaking Tug Returns to USCG Base

USCG Thunder Bay: Photo credit Wiki CCL Hu Totya

Great Lakes icebreaking mission complete, USCG Thunder Bay returns to base The 140-foot ice-breaking tug Thunder Bay  augmented the USCG fleet on the Great Lakes during Operation Taconite, a major Great Lakes ice-breaking operation this ice season. The crew participated alongside other Coast Guard icebreakers in operations that facilitated the safe navigation of vessels and cleared paths for more than 67 commercial freighters


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.


ACL Announces 4Q Results

American Commercial Lines Inc. announced results for the fourth quarter and year ended December 31, 2005. Net sales for the quarter were $236.2 million, a 31 percent increase compared with $180.3 million for the fourth quarter of 2004. Net income for the quarter was $8.6 million or $0.28 per diluted share which included charges for the early retirement of debt of $7.3 million (net of tax) as a result of the Company’s initial public offering during the quarter, or $0


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


Teekay Reports 1Q Results

Teekay Corporation reported net income of $15.2m, or $0.21 per share, for the quarter ended March 31, 2008, compared to net income of $76.4 million, or $1.02 per share, for the quarter ended March 31, 2007. The results for the quarters ended March 31, 2008 and 2007 included a number of specific items (predominantly unrealized losses relating to foreign exchange translation and interest rate swaps) that had the net effect of decreasing net income by $45.6 million, or $0.62 per share, and by $7


AET Sign Up for ShipServ TradeNet Services

ShipServ, a leading marine and offshore e-marketplace, has been contracted by tankship operators AET to provide  procurement software services for its fleet operations. AET will connect to ShipServ through its current ABS Enterprise system software suite. The global company’s procurement activities are based in Singapore and responsible for around 60 in-house managed vessels including VLCCs, Suezmax and Aframax tankers. Sharon Gill, Director of Sales for ShipServ said:


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.


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)


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.   


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.


BG Group Sells, Charters LNG Ships

Methane Becki Anne  (Photo courtesy BG Group)

BG Group and GasLog Ltd. have entered an agreement for GasLog to acquire two modern tri-fuel diesel electric (TFDE) LNG carriers for $460 million. BG Group will charter back the two vessels, the Methane Becki Anne and Methane Julia Louise, for nine and 11 years with further options to extend the


Great Lakes Water Levels Surge

The surge in water levels on Lake Superior and across the Great Lakes are a boon to this freighter travelling through the Soo Locks in June. (Photo: NOAA)

NOAA and partners document surge in Great Lakes water levels; levels expected to stay above-average through winter and spring of 2015   Scientists at the Army Corps of Engineers, Environment Canada and NOAA documented a record-setting surge in water levels on Lakes Superior and


Ezion Holdings to Acquire Teras Conquest

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  The Board of Directors of Ezion Holdings Limited (the “Company”) wishes to announce that the Company had acquired 92,000 ordinary shares of S$1.00 each representing 92% equity interest in Teras Conquest 7 Pte. Ltd. a company incorporated in Singapore (the


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)


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


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


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


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


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


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


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.  






 
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