The AP has reported that Stolt-Nielsen SA is buying three used tanker ships for about $40 million. The company said its wholly owned subsidiary, Stolt-Nielsen Transportation Group, has exercised an option to purchase the tankers, currently on charter, from Montana Ship Holding AS. According to Stolt-Nielsen, it chartered the ships in December 2001 with an option to buy at any time. The company said the three ships are to be converted at a cost of $7.5 million to meet new safety regulations that will take effect Jan. 1 next year. Stolt-Nielsen said it anticipates the ships will allow it take advantage of growth prospects for the parcel tanker market. It also said the used vessels will help it save money since the cost of shipbuilding is at historic highs. American depositary shares of Stolt-Nielsen fell 55 cents to $31.20 in afternoon trading on the Nasdaq.
EPA Administrator Carol Browner signed a final rule establishing new emission standards for commercial marine diesel engines at or above 37 kW (approximately 50 hp). The final rule makes only minor modifications to EPA's December 1998 notice of proposed rulemaking (NPRM), EPA's final rule aplies emission standards to new engines only, beginning with the 2004 model year. Vessels and engines built before 2004 will not be subject to emission control requirements
One of the greatest challenges facing a lender in the maritime industry is appropriate assessment of risk. In this exciting, varied and vibrant industry, a lender's effective risk assessment requires a thorough understanding of the vagaries that characterize the industry. Many of the companies have been in business for 100 years or more. They have a long family history associated with the sea that has charted their economic destiny for decades.
Nearly 800 young men and women are graduating from the seven maritime academies in the United States this year, and many will be working on a vessel almost before the ink on their U.S. Coast Guard license is dry. U.S.-flag vessel operators are clamoring for qualified deck and engine officers, so the class of 2011 will soon be gainfully employed. “We welcome our new shipmates,” said James Henry, President of the Transportation Institute
"Advancing best practice in marine warranty and consulting - GL Noble Denton issues new Guidelines for offshore operations" GL Noble Denton has issued three new Technical Guidelines for assessing and approving energy industry marine operations. These set the standard to which the independent technical advisor will conduct its Marine Warranty Survey and Marine Consultancy services globally, ensuring that clients are provided with best practice for offshore oil
Vessel tracking and asset/document management software, used by hundreds of U.S. commercial workboat and fishing customers, is now available internationally for integration into existing partner applications. McMurdo Group, a company in end-to-end search and rescue (SAR) and maritime domain awareness (MDA) solutions, has announced that its fleet management software platform is now available worldwide for partners to integrate into their existing maritime applications and
Fifteen talented Erie area high school students in the Minority College Experience / Women in Science and Engineering (MCE/WISE) program through Penn State Erie, participated in the Bayfront Center for Maritime Studies' (BCMS) first expedition of the Shipwreck Science Program on June 12, 2009. BCMS is an eleven year old non-profit community based organization in Erie, Pennsylvania that uses hands-on projects including sailing, boatbuilding
A U.S. Environmental Protection Agency (EPA) program is receiving proposals for grants to be used to reduce emissions from existing diesel engines used in various transportation modes, including marine. Grants can be used for up to 75 percent of the cost of repowering marine vessels with cleaner engines (there must be a non-federal cost share of at least 25 percent). Proposals must be submitted by December 8.
Kessler-Ellis Products (KEP) – the manufacturer of industry-leading type approved displays and computers, announced today its new range of Intelligent Vessel Management Systems, the KEP IVMS. Used to manage critical assets and information in the most organized and functional way possible, the new KEP IVMS systems gives commercial vessel operators and crew complete monitoring and control, and the real-time information and alerts critical to keeping an organization’s assets running
At SMM in Hamburg, Germany this week, Global Navigation Solutions (GNS), the maritime services group announces the launch of (i) its new free Essentials package, as well as (ii) an upgrade to the Voyager Planning Station dashboard, and (iii) a new bundle purchasing option. Essentials Package With effect from 1 October 2014, GNS customers will be able to use its new Voyager Essentials Package free of charge. This will enable vessels to benefit from GNS’s navigational purchasing and
Gatto Industrial Platers, Inc. has launched its new Large Parts Zinc Electroplating Line, capable of plating parts up to 27 feet long and weighing up to 8,000 pounds. The new line’s tanks are 4 feet wide, 7.5 feet deep and 27 feet long
The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel, Nordic Trym, is expected to be delivered to its owners, Nordic Offshore Supply Limited, in April 2015.
The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP). The recommended practice developed by DNV GL provides guidance on the proper design and correct operation
Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an LR2 or an MR2? What is the historical rate of return for these tankers? Which tanker class is the riskiest? These questions face owners
The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders. Explanation by Pål-André Malø, superintendent for new construction
Maaskant Shipyards Stellendam meets fishing sector’s growing needs by performing electric pulse fishing conversions As European fishing policies evolve, so fishing techniques advance. One of the latest technologies available is electric pulse fishing
The Meyer Werft Germany, Meyer Turku, STX France, and Fincantieri shipyards have all placed orders with Wärtsilä for the supply of fresh water generators to a total of seven cruise ships. The orders were placed between September and November 2014
Mermaid has secured a 2-year contract for its dive support vessel, ‘Mermaid Commander’, to provide subsea construction support in the Gulf of Thailand for a repeat international fabrication and installation contractor whose end customer is a major international upstream oil and
Buffalo Computer Graphics (BCG) Inc. has recently delivered two upgrades to long-time customers Columbia Pacific Maritime in Portland Ore., and The River School in Memphis, Tenn. The River School ordered additional laptop computers preloaded with BCG’s simulation software to assist
TITAN Salvage, Crowley Maritime Corp.'s Houston-based marine salvage, emergency response and wreck removal company, has refloated and scuttled the largest section of the wrecked bulk carrier, Smart. The vessel was carrying a load of coal when it went aground in August 2013 in heavy seas in
The Meyer Werft Germany, Meyer Turku, STX France and Fincantieri shipyards have all placed orders with Wärtsilä for the supply of fresh water generators to a total of seven cruise ships. The orders were placed between September and November 2014
An Italian shipping firm based in Genoa, Italy, pleaded guilty to violating the Act to Prevent Pollution from Ships by falsifying required ships’ documents to hide the fact that the ship had illegally discharged oil contaminated waste into the ocean on multiple occasions
Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore
BS Camburi, a 36-meter Monohull Crewboat built in Brazil by Arpoador Engenharia to the Petrobras type P2 specification has been launched and delivered. Designed by Incat Crowther, the 118-foot (36-meter) aluminum crewboat is powered by triple CAT C32 ACERT diesel engines coupled to three
Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled for the end of first-quarter 2015, two state-of-the-art ASD Tugs 3212 will operate for Multraship as sister vessels to the 83-ton