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Used Vessels

Stolt-Nielsen to Buy 3 Used Tanker Ships

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.


McDermott Awarded Two Saudi Aramco Contracts

McDermott International, Inc subsidiary awarded two projects for Saudi Aramco in the Arabian Gulf in the Karan, Safaniya and Zuluf fields The first project, Karan-45, comprises fabrication of a new wellhead platform, auxiliary platform, jacket and link bridge, with subsea installation of a 20-inch flowline and a 15kV composite power and fiber optic cable. Project management, engineering and procurement will be undertaken at McDermott’s engineering office in Al-Khobar, Saudi Arabia


SCA: Tanker Rates Justify Higher Construction Prices

The vessel retirement schedule in the Oil Pollution Act of 1990 will force retirement over the next five years of at least 12 U.S.-flag product tankers totaling almost 500,000 dwt of capacity (approximately 25 percent of the total U.S.-flag product tanker fleet) and over 50 U.S.-flag tank barges greater than 5,000 gross tons totaling over 1,000,000 dwt of capacity (approximately 45 percent of the total U.S.-flag ocean-going tank barge fleet greater than 5,000 gross tons). The struggling


Planned Tanker Age Curbs Seen As Insufficient

Age limits being imposed on tanker chartering by oil companies do not address the use of ships like the Erika, which broke up off France in December, shipping industry sources said. Companies are opting not to use large vessels, above either 80,000 or 100,000 dwt, more than 20 years old unless they have extra safety certificates. However, the age limit is higher for smaller tankers - at 25 years - partly because there are not enough newer ships


Effectively Assessing Your Risks

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.


Obituary: David Parrot, Founder and Former Chief, TITAN Salvage

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David Gray Parrot, 65, founder and former chief of TITAN Salvage, passed away in Maine in the comfort of family and friends. Parrot is survived by his wife Penny, sons Hunter and Gage, and a network of friends and family.  A private family service is scheduled for this weekend in Maine. "On behalf of the entire Crowley organization, I extend my deepest sympathies and condolences to David's family, friends and colleagues," said Tom Crowley, Jr


"We Need to Talk About the Jones Act ..."

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This is an open letter to the offshore oil and gas industry operating on the outer continental shelf. Dear Customer: We need to talk about the Jones Act and the other cabotage laws that require you to use U.S.-flag vessels to transport cargo and people from one part of to another.  You already know that, as the association that represents the owners and operators of flag workboats, we are willing to fight to protect the Jones Act


Bourbon Chooses Offshore Ship Designers

Offshore Ship Designers has been chosen to design a series of six new fuel-efficient seismic support/chase vessels ordered by French offshore major Bourbon to be built at Dubai’s Grandweld Shipyards. The 53 m vessels will have hybrid propulsion systems, slow speed escort and support work, and a high degree of maneuvrability. The vessels will be chartered by Bourbon to CGGVeritas with delivery of the first vessels set for the end of 2012


Wind Power Seen Surging as Custom Barges Cut Cost

Offshore wind-power producers from Dong Energy A/S to RWE AG are building custom ships at record rates to reduce the cost of the technology which is  three times as pricey as electricity from coal plants. As many as 20 vessels, some with movable legs which reach the seafloor, will come onto the market in the next few years, reducing chartering costs of as much as 200,000 euros ($261,000) a day, said Marc Seidel, an offshore engineer at Suzlon Energy Ltd


Damen Trading Delivers Several Vessels

Photo: Damen

Trading in preowned vessels continues to be a popular choice for many customers. Damen Trading facilitates the sale and purchase of both Damen and third-party vessels. Recent deals highlight how trading in vessels results in a win-win situation for buyer and seller.  Under these arrangements vessels have been sold in Australia and bought by clients in Uruguay, U.K. vessels have gone to Zanzibar, Colombian vessels to Jamaica, with customers worldwide seeing the benefits of trading in


Harnessing the Wind for Auxiliary Propulsion

The Norsepower R&D site in Naantali, Finland

Finnish marine engineering company Norsepower Oy Ltd. announced that it will bring to the commercial maritime market an auxiliary wind propulsion solution aimed at maximizing cargo ship fuel efficiency, with first sea tests on a Finnish cargo ship slated to begin later this year.


Klüber Obtains Certification for Manufacturing Facilities

Klϋber Lubrication has received the National Sanitation Foundation (NSF) ISO 21469 certification at its Londonderry, New Hampshire facility. The certification from the NSF ensures food-grade lubricants from Klüber Lubrication are manufactured in a hygienic environment


Fugro Launches Seastar XP2

FugroSeastar Logo (Credit Fugro)

Fugro Satellite Positioning released its Seastar XP2 PPP GNSS augmentation service on July 1, 2014, which provides increased redundancy for mission-critical offshore GNSS position and navigation applications. Like Fugro’s flagship Seastar G2 service, XP2 is an L1/L2, phase-based


General Dynamics Launches Morgan County NextGen-911

  General Dynamics Information Technology, a business unit of General Dynamics, has implemented a NextGen-911 emergency service solution for Morgan County, Ohio. The NextGen-911 solution enables Morgan County to easily accept emergency information from a variety of sources and provides first


Port of Long Beach Uses Education to Boost its Competitiveness

Photo: Port of Long Beach

The Port of Long Beach said it has not lost sight of the significance of professional development in supporting the Port‘s decade-long, $4 billion investment in upgrades and efficiency improvements. The port’s commitment to boosting its competitiveness in the long term extends beyond


DryShips Receives Funds for 9 Drybulk Vessels

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargos and offshore contract drilling oil services, announced today the receipt of a firm commitment letter from Nordea Bank for an up to $170 million senior secured credit facility to finance nine drybulk


Matson to Release Q2 2014 Financial Results

Matson containerships: Image courtesy of Matson

Leading U.S. carrier in the Pacific, Matson, Inc., informs it will release its financial results for the Second Quarter 2014 on Thursday, July 31, 2014. President and Chief Executive Officer Matthew Cox and Senior Vice President and Chief Financial Officer Joel Wine will discuss the results for


Containership Consortia Set for Further Expansion: Analyst

Vessels Sailing from Asia to Europe also carry cargo for many other destinations: Map DMR

The formation of 2M is only the conclusion of the latest round of mega-alliance negotiations. Much more lies ahead, considers Drewry Maritime Research in their latest 'Container Insight' analysis, excerpted here: Ocean carriers are clearly not yet done with mega-alliance expansion following


Hyde Marine Selects 2 Installation Partners

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, announced today it has established two partnership agreements for installation of the chemical-free Hyde GUARDIAN Gold Ballast Water Treatment System (BWTS) for international markets.


Port of Boston: A Vital Economic Engine

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Port of Boston is Vital Economic Engine and Job Generator for Region. The Port of Boston generated $4.6 billion in 2012 and more than 50,000 jobs are supported by the port, including more than 7,000 direct jobs, according to a report released by the Massachusetts Port Authority (Massport).


New Keel Cooling Option for Diesel Engines

Image: Volvo Penta

Volvo Penta of the Americas today announced the availability of a keel cooling option with D4 and D6 marine diesel engines to meet customer demands in the North American marine commercial market. Volvo Penta is now offering factory-built keel-cooled engines for the entire line of marine


Panama Canal: New Lock Gates Transferred to Atlantic Side

Panama Canal lock gates arrival: Photo courtesy of ACP

ACP informs that the Panama Canal Expansion has reached another important milestone with the transfer of the first gates to the new locks complex in the Atlantic side. "This is a very important operation because it involved the first movement of the gates from the special dock where they


Volvo Penta Offer D4, D6 Series Engine Keel Cooling Option

Marine Diesel D4 Engine: Image courtesy of Volvo Penta

Volvo Penta of the Americas has announced the availability of a keel cooling option with D4 and D6 marine diesel engines to meet customer demands in the North American marine commercial market. Details as follows: Volvo Penta is now offering factory-built keel-cooled engines for the entire line


Engine Performs in Roll Over Test

The rescue vessel Nh 1816 is rolled over during a recent test with KNRM.

Engines customized for new Dutch search-and-rescue lifeboat vessels keep running after full rotation on axis. In thrashing, unforgiving seas, a capsized rescue vessel used to be a symbol of defeat. To withstand harsh conditions, sea vessels are designed to right themselves when overturned


Scorpio Bulkers Gets $540m Loan for Newbuilds

Photo courtesy of Scorpio Bulkers

Scorpio Bulkers Inc. announced that it has received a commitment for a $540 million loan facility and provides an update on the financing of its fleet. On July 21, 2014, the company received a commitment from two European financial institutions for a loan facility of up to $540 million






 
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