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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


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


Jinhui Sells Supramax

Photo: Jinhui Shipping and Transportation

 Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month.   The purchaser is a company incorporated in Hong Kong. The bulk carrier will be delivered to the new owner between 29 July to 30 August 2016.


Hanjin to Return 38 Vessels Next Year

Photo: Hanjin Shipping

Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A company official said Hanjin was planning to return 20 containerships and 18 bulk vessels by 2017, but declined to disclose details


The American Club Reports Solid Progress in 2015

Arnold Witte (Photo: Donjon Marine)

The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the Club’s business developed respectably, and 2016 had started on a positive note.  


Bronson Hsieh Leaves Evergreen to Head Yang Ming

Bronson Hsieh. Pic by  Evergreen Group

 Evergreen Group vice chairman Bronson Hsieh has been appointed chairman of rival Taiwan carrier Yang Ming Marine.   Yang Ming Marine Transport, the nation’s second-largest container shipper in terms of fleet size, approved Hsieh’s appointment, reports said.  


US Offshore Regulator to Unveil Tougher Environmental Safeguards

The Discoverer Enterprise, Q4000 and many other vessels work around the clock cleaning up the Deepwater Horizon oil spill in the Gulf of Mexico. (Photo: SGT Casey Ware, U.S. Army)

The U.S. government agency created after the 2010 Deepwater Horizon oil spill plans in coming weeks to unveil tougher financial requirements for offshore oil producers aimed at protecting taxpayers from the risk of cleaning up abandoned oil rigs, an agency executive told Reuters.  


Navig8 Tankers Pact with CMB

Photo: Navig8 Chemical Tankers Inc.

 Navig8 Chemical Tankers Inc. has signed sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (CMB) for three of its IMO2 37,000 dwt Interline coated tankers.   The company said that the expected net proceeds from the transaction are USD 91.2 million.  


Port of Little Rock Reports Strong May Volumes

Photo: Little Rock Port Authority

The Port of Little Rock has reported 73,000 net tons of total barge tonnage in May. Dock activities compared favorably over the previous year with Logistic Services, Inc. (LSI) handling 228 barges during the first five months of the year. 350


FPSO Crew Rescues Trapped Sea Turtle

A free turtle – mission accomplished (Photo: Teekay)

Shortly after lunchtime on June 5 onboard FPSO Cidade de Rio das Ostras, a crew member spotted a sea turtle trapped in a fishing net drifting on the surface of the waves.   A report was made immediately after the sighting and after a brief meeting


Fishing Company Fined after Crewman’s Death

New Zealand based fishing company Talley’s Group Ltd. has been fined $73,520 and ordered to pay $21,000 in reparations to the family of a crewman killed in an on-board accident in July 2014.   The 24-year-old crewman Leighton Muir was decapitated when a broken rope snapped back while


SCI Profit doubles to Rs. 377.29 Crores

Tanker of Shipping Corporation of India Photo SCI

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs.200.93 Crores in the previous year


New Series of Trawlers Built to RS class

Construction of a new series of trawler-seiner pr. SK-3101R has been commenced at the Shipyard Yantar (Kaliningrad).    Project SK-3101R was designed by Skipskompetanse, Norway. The trawler is intended for fishery using bottom and pelagic trawls, bottom net and seiner net


Höegh LNG Partners Sinks to Loss in Q1

Photo Höegh LNG Partners LP

Höegh LNG Partners LP in their Preliminary Financial Results for the Quarter Ended March 31, 2016 reported a net loss of $1.0 million for the first quarter of 2016 compared to operating income of $5.0 million and net income of $2.6 million for the first quarter of 2015.


Singapore Shipping Profits Up

Photo:  Singapore Shipping Corporation Limited

 Singapore Shipping Corporation(SSC)'s  net profit increased 7.8 per cent to US$9.6 million for the financial year ended March 31, 2016, compared to the previous year.   Revenue rose 29.4 per cent to US$44.9 million, compared with the same period a year earlier.  


Shipping Corp Seafarers on Hunger Strike

Image: Shipping Corporation of India

 Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears.   According to a Press Trust of India report, these seafarers


Höegh LNG Turns to Profit in 1Q

PGN FSRU Lampung  Courtesy Hoegh

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015. The company’s EBITDA reached $26.6 million for the first quarter of 2016, up from $24






 
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