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
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
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
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
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.
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
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
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
Philadelphia Energy Solutions plans to start operating a new benzene offtake terminal next month at its 335,000-barrel-per-day refinery in Philadelphia, two people familiar with the plans said. While most U.S. refiners are either selling benzene or refining it further
With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine rooms and other technical plants of the ships. B COOL A/S said it has acquired MEMAC
Visitors to the Fort Lauderdale International Boat Show, October 30–November 3, 2014, can experience what it’s like to control a diesel-powered, conventional driveline boat using Twin Disc's Express Joystick System (EJS). Twin Disc's booth will feature a unique
Sound Ocean Systems, Inc. (SOSI) announced the delivery of two unique mooring winches, both tested on its newly constructed test pad at its primary manufacturing facility in Sultan, Wash. Mooring Winches Delivered SOSI recently delivered two all-electric, custom designed
Corvus Energy announced today the award of $1.3 million in repayable assistance from the Western Innovation (WINN) Initiative for its project to further develop the Corvus Energy Storage System. The Corvus Energy system provides industrial scale energy storage to enable customers to power or
Major revisions to the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (The STCW Convention) came into force in 2012. The “Manila Amendments - 2010” were adopted at a diplomatic conference at Manila, in the Philippines in 2010.
Smith Brothers, Inc., Chesapeake Bay-based barge and marine equipment charter company, recently added the tug Capt. Kenneth to its fleet of inland and truckable tugs. With the 99-year-old namesake looking on alongside his son, Jeffrey Smith, company president
LNG America announced it has entered an agreement with Buffalo Marine Service, Inc. (Buffalo Marine) to cooperate on the design of an LNG bunker fuel network for the U. S. Gulf Coast region. LNG America is developing a hub-and-spoke delivery system for LNG as fuel for the marine market and
ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles (ASVs) could reduce the costs of offshore wind farm support. The project will look at using ASVs to reduce the cost of
Northrop Grumman Corporation is expanding its support for science, technology, engineering and math (STEM) education across the globe by sponsoring the Maritime RobotX Challenge in Singapore, Oct. 20-26. Bringing together 15 teams of university students from five countries (United States
Austal launched yesterday its fifth in-series Cape Class Patrol Boat (CCPB) at the Company’s Australian Defence Facility in Henderson, Western Australia. Cape Jervis is the fifth of eight 58-metre patrol boats that are being delivered to the Australian Customs and Border
Since weld distortion is a very costly problem for U.S. shipyards, the National Shipbuidling Research Program (NSRP) has embarked on a project to reduce weld distortion through innovative Induction Heat process. A new welding process -- HiDep Arc Welding -- has been invented
On October 13 the Gazprom leadership acceded to Alisher Usmanov's request for releasing him from his position as Director General of Gazprom Investholding. At the meeting Alexey Miller, Chairman of the Gazprom Management Committee thanked Alisher Usmanov for many years of conscientious
Amaliekajen was buzzing with life during Culture Night, when the Danish Maritime Authority’s vessel Poul Løwenørn lowered the gangway and invited everyone interested on board. Many interested visitors turned up to see the Danish Maritime Authority’s inspection
Leading classification society ClassNK announced that it has released Guidelines for Exhaust Gas Cleaning Systems. These guidelines cover class safety requirements as well as safety requirements stipulated in the IMO guidelines.