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Issues Statement

USACE Issue Impact Statement on Ecosystem Restoration Project

The US Army Corps of Engineers issued a notice stating that the draft integrated feasibility report and environmental impact statement for the Mid-Chesapeake Bay Island Ecosystem Restoration Project is available for consideration. Public meetings will be held in Cambridge (October 11) and Taylors Island, Maryland (October 12). Written comments should be submitted by October 23. 71 Fed. Reg. 53090


Recently Acquired Dockwise Did Well in 2012

Dockwise publish audited annual accounts for 2012, having earlier published an unaudited version. The unaudited 2012 results were first disclosed as part of the publication by Dockwise of the Q4 2012 results on 13 February 2013. Performance highlights: Revenues USD 539 million Adjusted EBITDA USD 181 million Adjusted Net Profit USD 40 million Fleet Utilization 74% As indicated in the position statement of Dockwise regarding the mandatory cash offer by Boskalis for


Hornbeck Offshore Files Shelf Registration Statements

Hornbeck Offshore Services, Inc. has filed a universal shelf registration statement on Form S-3 and an acquisition shelf registration statement on Form S-4 with the Securities and Exchange Commission. Once declared effective by the Securities and Exchange Commission, the universal shelf on Form S-3 will enable the Company to sell from time to time, in one or more public offerings, up to $350 million of its common stock, preferred stock, debt securities or warrants to purchase common stock


Aker Takes Major Stake In Kvaerner

Aker Maritime has acquired control of about one fourth of Kvaerner for a reported $350 million (3 billion crowns). The purchase made the industrial holding firm, a group of companies operating in more than 20 countries with no previous Kvaerner ownership, the biggest shareholder in Kvaerner. "Aker Maritime ASA has today bought rights issues, shares and options in Kvaerner ASA which together amount to 26.39 percent of the company after the ongoing rights issue


Chief Engineer Pleads Guilty to Making False Statements

The U.S. Department of Justice issued a Press Release stating that the chief engineer of an oil tanker pled guilty in federal court to making false statements to deceive the U.S. Coast Guard with regard to overboard discharges of oil-contaminated bilge waste. The offenses occurred during a routine port state control (PSC) boarding by the Coast Guard in Portland, Maine. The chief engineer faces a maximum penalty of up to five years imprisonment, a fine of up to $250,000


Marad Responds to Labor Critics

U.S. Maritime Administrator David Matsuda

The U.S. Maritime Administration issued a Report Comparing U.S. and Foreign-Flag Operating Costs. The U.S. maritime labor union(s) responded with pointed criticism. Marad issues its own statement in reponse.   Text of Marad Chief Matsuda's Prepared Statement: “The U.S. Maritime Administration’s top priority is to promote the growth and sustainability of America’s maritime industry. The first-of-its-kind ‘Comparison of U.S


MarAd Issues Notice onLNG DWP Application

The Maritime Administration (MarAd) issued a notice stating that the final environmental impact statement for the Northeast Gateway Energy Bridge liquefied natural gas (LNG) deepwater port (DWP) license application is available for review. The application is for a project that would be located in federal waters of Massachusetts Bay approximately 13 miles south-southeast of Gloucester. Meetings to receive public comments will be held in Gloucester (November 8) and Salem (November 9)


Odfjell Invest Orders $645m rig from Daewoo

Odfjell Invest has decided to exercise an option to have one drilling rig built by Daewoo Shipbuilding and Marine Engineerng in South Korea for $645 million, Odfjell Invest said on Friday. The semi-submersible rig, the company's second, will be delivered no later than June 30, 2010, Odfjell Invest said in a statement. The company will consider financing $100 million of the cost by issuing new equity, Odfjell Invest said.


NOIA Echoes Importance of Atlantic Seismic Exploration Hearing

Randall Luthi (Photo: U.S. Department of Interior)

National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement on the hearing on seismic exploration on the Atlantic Outer Continental Shelf held today by the House Committee on Natural Resources, Subcommittee on Energy and Mineral Resources. “The National Ocean Industries Association appreciates Chairman Lamborn’s leadership on this important hearing on the crucial role of seismic surveys in the development of oil and natural gas for our


Dangerous Goods Shipments Banned in Alexandria

CMA CGM issued a statement to inform customers about new instructions received from the port of Alexandria, Egypt regarding dangerous goods shipments. With immediate effect, LCL/consolidation shipments containing dangerous goods to Alexandria are not accepted anymore, CMA CGM said. cma-cgm.com  


LNG Carriers GasLog Financial Results Q2 2014

Image courtesy of GasLog

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30, 2014, excerpted as follows: Highlights Completion of the initial public offering (“IPO”) of


Chilean Court Rejects Appeal Against Crow River Project

Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the south of the country with an initial investment of $ 733 million . In a unanimous ruling


US, China Officials Meet After Navy Jet Intercept

U.S. and Chinese military officials will hold talks on rules of behavior at the Pentagon on Tuesday and Wednesday, a U.S. official said, days after the United States denounced a "dangerous" Chinese jet intercept of a U.S. Navy patrol plane.


USCG Small Boat Fires Warning Shot at Iranian Vessel

Cutter Monomoy: Photo USN

A U.S. Coast Guard boat operating in international waters in the Arabian Gulf fired on an Iranian dhow in what U.S. military officials described as a defensive move after the crew of the Iranian vessel trained a machine gun on the Americans with hostile intent, informs the US Department of Defense


Polarcus Tests Market, Improves Earnings

Polarcus Adira

Polarcus Limited today announced the release of its second quarter 2014 financial statements in which it reported revenue rose 13% sequentially and 5% YoY to $137.6 million while. The company highlighted EBITDA of $49.9 million and EBIT of $23.8 million, a net profit increase to $9


Russia Detected and "Eject" a Submarine Alleged US

  The anti-submarine force of the Northern Fleet of Russia detected a foreign submarine in the border waters and "expelled", Russian news agencies reported on Saturday, citing an unnamed spokesman of Staff Russian navy. A foreign submarine


China Rebuffs US Pressure to Ease S. China Sea Tensions

Western Pacific: File photo

China appeared to rebuff pressure from the United States to rein in its assertive actions in the South China Sea on Sunday as Southeast Asian nations declined to overtly back Washington's proposal for a freeze on provocative acts. * ASEAN communique urges self-restraint from all parties


UK Consortium Scraps Portsmouth Dockyard Plan

Portsmouth Naval Shipyard: File photo

Portsmouth Shipbuilding Group was set up in the wake of the decision made by BAE Systems last year to relocate its shipbuilding division to the Clyde, in Scotland, a move that put hundreds of jobs at risk, reports ‘The [Portsmouth] News'.


Hapag-Lloyd Operating Profit Down on Lower Freight Rates

Containership loading: Photo Hapag-Lloyd

Germany's Hapag-Lloyd's said it expected operating profit to drop considerably this year after tough competition in container shipping dragged freight rates lower in the second quarter. The company, partly owned by TUI AG, posted a second-quarter operating loss of 73.7 million euros ($98


Odebrecht JV Wins $1.3b Colombia Waterway Contract

Colombia awarded a 2.5 trillion peso ($1.33 billion) contract to a consortium led by Brazil's Odebrecht SA on Friday to improve navigability on the Magdalena River, which the Andean nation has long planned to exploit for cargo transport. Odebrecht will have an 87 percent stake in the joint


Faster Approvals for LNG Export to Non-FTA Countries

Magnolia-LNG receives export boost

  Liquefied Natural Gas Limited has advised that the U.S. Department of Energy has revised procedures that could result in faster approval of applications to export LNG to non-Free Trade Agreement (Non-FTA) countries. The company had in October 2013 applied for approval to export 8


BOEM to Open Bids for Gulf of Mexico Lease Sale

The Bureau of Ocean Energy Management (BOEM) Gulf of Mexico Regional Director John Rodi will open the Gulf of Mexico Western Planning Area Lease Sale 238 at 9 a.m. CDT on Wednesday, August 20, 2014 at the Mercedes-Benz Superdome in New Orleans.


China Rejects Manila Protests, Laments Detentions

China rejected Philippine complaints on Wednesday about Chinese survey vessels operating in a gas-rich area of Manila's exclusive economic zone, and has lodged a separate complaint about the detention of Chinese workers, as tensions persist.


Pipeline Corrosion Shutters Statoil's Troll C Platform

Statoils TRoll C Platform in the north Sea (photo courtesy Statoil)

Norway's Statoil shut oil and gas production at its Troll C platform in the North Sea after inspections found corrosion damage on a pipeline, the company said in a statement on its website on Wednesday. The platform was shut on Sunday and the repair is expected to take seven days, Statoil said


Reliance to Source Ethane from US

India's Reliance Industries Ltd said it will source 1.5 million metric tons of ethane a year from the United States as feedstock for its crackers in India. The company has executed storage and capacity agreements for liquefaction and export of ethane with a North American terminal






 
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