Singapore-based Otto Marine sells Work Maintenance Vessel 'Oranda 1' for US$38.0-million, simultaneously bareboat-chartered back for GofM work. The sales transaction sets to improve the Group’s cash flow and balance sheet. Oranda 1, of LOA 75 m is an ABS-classed 4,200bhp Work Maintenance Vessel that has completed 4 projects in South East Asia since May 2010. Contemporaneous with the sales transaction, the Group’s subsidiary, Karp Marine Limited, has bareboat chartered back the vessel for a period of 5 years. Oranda 1 is currently executing general topside platform maintenance works in the Gulf of Mexico under a 450-day time charter contract worth US$14.9 million. “Proceed from this sale transaction will be utilized towards repayment of bank loans, thereby improving the Group’s liquidity and working capital. This is very much in line with the Group’s strategy to lighten its balance sheet to optimize operations going forward.” Aw Chin Leng, Executive Director and Deputy President. Otto Marine Limited is an offshore marine group engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion. In addition, Otto Marine is chartering out its own fleet of sophisticated and environmentally friendly (clean/comfort class) Anchor Handling Tugs and Offshore Supply vessels for mainly Deep Sea applications.
The cost of maintaining Navy ships is measured in billions of dollars and millions of man-hours. Requiring sailors to perform excessive, unnecessary, and often counter-productive maintenance does more than waste money. It also wastes that most precious of commodities — sailors' time. This problem is being addressed by the U.S. Navy through the Surface Ship Maintenance Effectiveness Review (SURFMER) program. Since October 1996
Senator Kerry (D-MA) and Representative Capuano (D-MA) introduced companion bills (S. 1310
The U.S. Court of Appeals for the Fifth Circuit ruled that the defense of claim preclusion applies to actions for maintenance and cure. In the instant case, plaintiff brought an action against defendant for maintenance and cure for a slip and fall he suffered onboard a vessel. He then voluntarily dismissed his claim with prejudice. Later, he refiled the maintenance and cure action. Defendant then moved for summary judgment
Damen Services, part of Damen Shipyards Group, said that its Damen Asset Management Operating System (DAMOS) has been independently approved by classification society Bureau Veritas. DAMOS is a unique vessel maintenance management system that allows customers to maximise uptime and optimise cost of ownership. DAMOS is part of the Damen Services Lifecycle Support System and identifies and categorizes all on-board systems of a vessel
Revised IMO guidelines for maintenance, testing and inspection of fire protection systems and appliances will become effective on May 31, 2013 and are contained in the circular MSC.1/Circ. 1432. These guidelines should be followed in accordance with SOLAS regulation II-2/14, which requires that all fire protection systems and appliances are kept in good order and that a maintenance plan is developed. The guidelines state that certain maintenance procedures and inspections may be
President Clinton's budget transmitted to Congress includes $4.06 billion for the USACE Civil Works program. In addition the program will include $322 million in non-federal contributions and trust fund receipts. Funding in this request will be used to continue the development of the nation's water resources, the efficient operations, maintenance and management of the nation's navigation, flood damage reduction, and multiple-purpose projects, the equitable regulation of wetlands
U.K.-based software house Marine Software Ltd has successfully delivered its DNV type approved Marine Planned Maintenance system on QinetiQ’s Trimaran demonstrator vessel R.V. Triton . This innovative test vessel comes after ten years of research and is the largest motor powered trimaran demonstrator ever built, also being the worlds first of class ship based on this new concept triple-hull design. QinetiQ, formerly known as the Defense Evaluation and Research Agency ( DERA )
Wärtsilä North America signed a contract with Transocean for a Conditioned Based Maintenance (CBM) program. The contract covers three Transocean properties: the Deepwater Millennium and Deepwater Pathfinder drill ships and the Deepwater Nautilus semi-submergible drill rig. Financial terms of the contract were not disclosed. "CBM contracts have been useful in other industries as a way for operators and owners to extract the maximum value out of their maintenance dollars spent
Offshore Marine Management (OMM) has launched a new maintenance support service for offshore renewables operators. With little existing guidance and no legislation currently in place, operators may not be conducting the maintenance they need in order to guarantee the integrity of their assets – or they might be spending too much on completing unnecessary routine servicing. OMM’s new Inspection, Maintenance and Repair (‘IMR’) service can give operators the confidence
Within the last year, the United States Coast Guard (USCG) has issued several port state control (PSC) detentions due to inoperative water mist systems on vessels trading to the US. In nearly every case, the water supply valve was found to be in the closed position during the PSC
After two years of construction, the upgraded Royal Australian Navy (RAN) Diving School and the Submarine and Underwater Medicine Unit (SUMU) have been officially opened at a ceremony at HMAS Penguin. Deputy Chief of Navy Rear Admiral Michael van Balen
Light Structures, a global technology company for fiber optic monitoring and analysis systems, has won the contract to provide the critically important Load & Fatigue Monitoring Solution for the $2.7 billion Ichthys LNG Central Processing Facility (CPF)
One man suffered light burns as a result of an electrical fire onboard HMAS Waller earlier this week. The fire occurred on Tuesday, December 10 at 10 p.m. (WA time) while the submarine was undergoing maintenance alongside Fleet Base West.
The U.S. Navy awarded General Dynamics Electric Boat two contract modifications worth a total value of $16.8 million to perform nuclear and nonnuclear maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics
The National Freight Advisory Committee yesterday unanimously approved a recommendation to pass legislation that will ensure that the Harbor Maintenance Tax is utilized for its intended purpose - to keep the nation's harbors and channels dredged and maintained at their maximum authorized depth for
Transas Marine has won the Italian tender of "Consorzio degli armatori del mediterraneo" for supply of navigation equipment for 64 vessels. "Consorzio degli armatori del mediterraneo" is the Italian Shipowners Research Consortium which consists of 6 shipowners (Augusta Due
Royal Boskalis Westminster N.V. (Boskalis) has ordered a new self-propelled megacutter from IHC Merwede. This self-propelled cutter suction dredger, with a total installed power of 23,700 kW and a pump ashore capacity of 15,600 kW, is a replacement investment
Incat Crowther announce the launch of the 'Elizabeth Cook', a 24m catamaran passenger ferry built by Richardson Devine Marine, designed to operate in Sydney Harbour, Australia for Captain Cook Cruises, a subsidiary of Sealink Marine. Incat Crowther say thay they worked closely with Sealink to
The company's Brisbane hub, aimed to serve Australia, New Zealand and the Pacific, will provide warranty services, maintenance, training and spare parts, having been recently opened by the Honorary Consul of the Kingdom of the Netherlands, Captain Kasper Kuiper.
Fleet management solutions are designed to help cut costs associated with maintaining vessels by streamlining your workflow. FleetPlan manages risk, warranties and supports facility management. HMC’s FleetPlan optimizes fleet planning to reduce downtime.
The contract , to be signed shortly, with a value of approximately EUR 140 million comprises the construction and maintenance of a new sandy coastline for 20 years. The project is part of the second national High Water Protection Program.
The oil tanker “Energena’ managed by Gulf Stolt Ship Management and currently undergoing maintenance at Drydocks World, will become the first commercial vessel to sail under the UAE flag , reports 'Trade Arabia'. The Tasneef (Emirates Authority for Classification) classification
General Dynamics Bath Iron Works, Bath, Maine, is listed by the US Department of Defense, as having been awarded a $73,913,646 Navy contract modification to previously awarded contract (N00024-12-C-4311) for DDG 51 and FFG 7 class warship integrated planning yard services.
The Shipbuilders Council of America (SCA) today announced the launch of SOS: Save our Ships, a national campaign focused on bringing attention to the devastating and unintended effects sequestration and budget uncertainty continue to have on the United States Navy and naval services