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.
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
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
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.
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
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
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
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
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
Bluetide Communications’ Access Management Portal (AMP) application for wireless network management is changing the way workboat operators manage data, crew and costs. Thousands of miles, and weeks or months out at sea, the next best thing to physically being there, is an electronic connection home, and today, mariners increasingly are reluctant to board vessels without access to some form of it. “What seafarers want overwhelmingly is a cost-effective way to speak to
Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation, Taiwan ("CSBC") is Seaspan's eighth 14000 TEU SAVER design containership and fourth delivery in 2016.
U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO) and SAFE Boat International celebrated the unveiling of AMO’s newest coastal interceptor vessel (CIV) Thursday. In honor of AMO’s historical legacy, this first CIV will be named the Alexandria
In 2015, it was the Asia-Europe route which was the focus of changing deployment trends, says Clarksons Research. This year, it is the Transpacific trade which looks poised to drive key changes in containership deployment, with the expansion of the Panama Canal due to open in late
Hanjin Paradip resume its sailing from South Africa as talks continue with owner over unpaid charter fees. The ship had been detained in Richards Bay, South Africa earlier last week over unpaid charter fees. The vessel in 82
ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings of the entire installed Azipod fleet since being launched is estimated to be more than 700,000 tons
1917 - The first U.S. convoy left Hampton Roads, Va. to cross the North Atlantic after entering World War I. During the 18 months of war while American vessels escort convoys through the war zone, 183 attacks are made by submarines, 24 submarines are damaged and two are destroyed.
Maritime vessels are under significant threat of cyber-attack because many are carrying outdated software and were not designed with cyber security in mind, according to new research. But operators could easily mitigate against such dangers by updating security systems
Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway. This field is located approximately 8 kilometers North West of the Oseberg field center at block 30/9-30/6 on
For the 3 months ended 31 March 2016, Nordic Shipholding A/S generated a profit after tax of USD 1.5 million, compared to USD 2.7 million in the same quarter last year. The average daily TCE rate earned by the vessels in the Handytankers Pool was below the forecasted daily rate
Gondan Shipyard signed a new contract for the construction of a new vessel for Naviera Nabia, part of Acuña Group, from Bueu (Pontevedra-Spain). This new catamaran will operate passenger routes near the Ria of Vigo. The deal was signed at the At the Navalia 2016 Exhibition and was
A large wooden fishing boat overcrowded with migrants capsized off the coast of Libya, the Italian navy said on Wednesday, with some 562 people rescued and five found dead. Photographs show the blue fishing boat rocking violently before capsizing, sending migrants tumbling into the sea
MAN Diesel & Turbo has won the order to supply Danaos Shipping Co. Ltd. with fixed pitch Kappel propellers, propeller boss caps with fins, and Engine Power Limitation for two container vessels – the 8,500 TEU ‘CSCL Europe’ and ‘CSCL America’.
EPA Tier 4 regulations (for engines of 804 hp and higher) and propulsion advancements have many manufacturers and vessel designers changing course to adapt to new requirements and customer demands. Jensen Maritime is designing a new 110-ft
China COSCO Shipping, which uses bulk carriers and container vessels to transport goods, has seen its cargo business decline amid China's slowdown and has decided to get into the offshore wind power generation business, reports Nikkei.
Following a further round of discussions on 'Places of Refuge' at the IMO last week, prompted by a submission from the EU Member States, the European Commission, shipowners and the maritime insurance industry, IACS today published recommendations addressing the minimum support services for vessels