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.
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
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
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.
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 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 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 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. (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
Diana Containerships Inc. reported a net loss of $8.8 million for the fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014. According to the shipping company, the loss was mainly the result of $6.6 million of impairment charges of the vessel Hanjin Malta, without which the result for the fourth quarter of 2015 would have been a net loss of $2.2 million. Time charter revenues, net of prepaid charter revenue amortization, were $14
With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited. While Europe has been the main buyer region
Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from PPL Holdings Pte Ltd and E-Interface Holdings Ltd. "This will enable the company to optimally manage the businesses
South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME), faced with risks of being delisted from the stock market due to capital erosion, is seeking measures for survival, says a report in Korea Times. DSME has fallen into the state of complete capital impairment
Lerwick Port Authority have inaugurated a new Vessel Monitoring System (VMS) which utilises the latest technology to improve the handling of ship movements at the busy Shetland port. Transas, a world-leader in providing harmonised integrated solutions to the maritime industry
South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd said on Thursday it is planning to sell shares to raise funds by the end of this year, with details to be discussed with its creditor banks. Daewoo Shipbuilding, the world's largest shipyard in terms of orderbook tonnage for July
APM Terminals Pipavav’s (Gujarat Pipavav Port Ltd) today posted a 60 per cent rise in standalone net profit to INR 59.75 crore for the first quarter ended June 30, 2016 on the back of lower expenses. The company had posted a net profit after tax of INR 37
In the first half of 2016 the Rickmers Group generated consolidated revenues of €249.3 million ($279 mln), 13.9 percent lower than in the corresponding period in 2015 (€289.6 million, $324 mln). The main underlying factors are the persistently strained market situation
Two Turkish sailors were jailed for a total of 42 years on Friday after their attempt to smuggle a huge haul of cocaine into Europe was thwarted, partly due to some swift international co-operation between Britain and Tanzania. Some 3.2 tonnes of cocaine
Euroseas Ltd has announced its results for the three and six month period ended June 30, 2016 as well as certain fleet updates. Total net revenues of $7.3 million. Net loss of $19.2 million; net loss attributable to common shareholders (after a $0
Navios Maritime Partners has reached an agreement with South Korean shipping company Hyundai Merchant Marine to cut the hire rate of five container vessels chartered out to HMM by 20%. Pursuant to the charter restructuring documentation executed on July 15, 2016
Independent research and consultancy firm Maritime Strategies International (MSI) has forecast a structural change to future shipping cycles, driven by increased volatility in newbuilding activity. In an article by Dr. Adam Kent, MSI notes that as a consequence of the current glut of
Wilhelmsen Maritime Services AS (WMS), a wholly owned subsidiary of Wilh. Wilhelmsen Holding ASA, said it has signed an agreement whereby technology subsidiary Callenberg Technology Group will be acquired by Trident Maritime Systems. "We have in Trident and their principal, J. F
German container shipping company Hapag-Lloyd AG has swung to a loss in the first half of the year as tumbling freight rates weighed on revenue. The bad news comes as the Hamburg-based company tries to boost its fortunes through a merger with United Arab Shipping Company.
State-owned Container Corporation of India recorded a 14 percent drop in standalone net profit for the three months to the end of June, the company said in a statement. Its net profit for the April-June quarter came in at 1.78 billion rupees ($26.67 million), missing expectations.
The downturn in the container industry has taken a toll on the half-year results from Hong Kong-based Orient Overseas (International) Ltd, the parent of Orient Overseas Container Lines (OOCL). OOCL turned to a $56.7m loss in the first half (for the six-month period ended 30th June