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 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
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
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
The Maritime and Port Authority of Singapore (MPA) has released a training programme, produced by Videotel, a KVH company, to encourage safe navigation in the Singapore Strait. Carrying an estimated one third of the world’s traded goods, the Singapore Strait is one of world’s busiest shipping lanes the world’s busiest shipping lanes. Recent projections show that maritime traffic is set to increase significantly along this narrow waterway, which
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
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
Thermal coal has been one of the commodity success stories this year, but there is a risk that it becomes a victim of its own success by eating into its advantage over liquefied natural gas (LNG) in generating electricity. The benchmark Australian thermal coal price, the Newcastle Index, rose to $70.76 a tonne in the week to Sept. 16, its highest in 18 months and taking its gain since the start of the year to almost 40 percent.
As Hyundai Merchant Marine (HMM) and Swiss shipping giant Mediterranean Shipping Company S.A. (MSC) are expected to enter the takeover battle for the Long Beach Terminal in California, they will aggressively negotiate its price, reports Business Korea.
The steel cutting ceremony of the first project designed with the FORAN system by CIMC Ocean Engineering Design and Research Institute Co., Ltd. (CIM ORIC) was held in the Chinese shipyard Zhoushan Changhong International Shipyard Co., Ltd. on September 23.
Bumi Armada Berhad, Malaysia-based international offshore energy facilities and services provider celebrated the naming ceremony of the Armada Olombendo Floating Production Storage and Offloading (FPSO) last weekend. Armada Olombendo FPSO represents Bumi Armada’s largest FPSO and it will
RigNet and MODEC Sign Agreement to Deliver Fiber-equivalent O3b Satellite Connectivity to Offshore Brazilian FPSO Fleet O3b Networks, technology solutions company RigNet and floating production service provider MODEC, entered an agreement to provide high-throughput
Shipbreaking has become commercial due to the recycling of steel becoming a global commodity in demand. This means that the dismantling and recycling of a ship are recognized as part of the value of the ship, which has evolved into a massive challenge for the shipping industry.
At this year’s Offshore Energy exhibition, global deck machinery specialist ACE Winches announced a new 500te Linear Winch to its range of specialized deck equipment. The company will showcase its range of products and services supplied to European clients operating within marine
Bollinger Shipyards has delivered the USCGC Lawrence Lawson, the 20th Fast Response Cutter (FRC) to the United States Coast Guard. Ben Bordelon, Bollinger President & C.E.O. said, “We are very pleased to announce the delivery of the USCGC Lawrence Lawson to the U.S
Hydrocomp’s ProCad facilitates in-house Process Control of Propeller Design and Manufacture. Maritime Tactical Systems Inc. (MARTAC) is a Florida-based company building next-generation unmanned vessels for military applications
For 16 years, the National Quality Steering Committee has used three measures to track overall trends in safety and environmental protection. While not all-encompassing, the measures are considered to be useful indicators of towing industry trends. The measures are:
Enginei fuel monitoring systems provide comprehensive fuel data analysis and reporting options to provide vessel owners and operators with detailed engine performance and other mission critical information. To support workboats, offshore support fleets and inland waterway operators along
Marine transportation provider and the United States’ largest operator of OSVs, Edison Chouest Offshore (ECO), has teamed up with Damen to build 13 heavy duty mooring assistance and escort tugs. The vessels will be built in the U.S. using ECO’s network of five shipyards with support
On Tuesday, October 18, 2016, Wagenborg launched the new tugboat Wild Maa in Groningen, the Netherlands. Prior to the tandem lift, Wagenborg transferred the tug, weighing 253 metric tons and measuring 29 meters long and 10.3 meters wide
Astican & Astander: pair of privately owned Spanish yards continue to invest in facilities and equipment Astander and Astican are the two busiest privately owned shipyards in Spain carrying out heavy repairs and special conversion projects with a boutique style attitude towards
The captain and crew of Holland America Line’s ms Veendam were honored by the Association for Rescue at Sea with a prestigious AFRAS AMVER Award for the 2015 rescue of a pilot who ditched his aircraft in the Pacific Ocean near Hawaii. The Automated Mutual Assistance Vessel Rescue System was
United Arab Shipping (UASC) has installed Marlink’s news, entertainment and television solution XChange Media on 44 vessels. The product provides on-demand multi-lingual content to crew personal devices in an alternative manner to on-board satellite TV.