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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


Country’s Largest Floating Drydock Coming to Portland

Image: depiction of new drydock, courtesy Vigor

The country’s largest floating drydock, the Vigorous, is headed for Portland this weekend. The drydock, a piece of equipment used to lift vessels as large as cruise ships out of the water, is scheduled to arrive at the mouth of the Columbia Sunday


US’ Largest Floating Drydock Heads to Portland

Image: Vigor

The country’s largest floating drydock, the Vigorous, is headed for Portland this weekend. The drydock, a piece of equipment used to lift vessels as large as cruise ships out of the water, is scheduled to arrive at the mouth of the Columbia Sunday


Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG

Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material.


CBP Aircraft Locates Vessel in Distress

CBP Aircraft Locates Vessel in Distress

  U.S. Customs and Border Protection Office of Air and Marine agents assigned to the North Dakota Air Branch have located four people on Red Lake after a call for assistance came in from the Red Lake Police Department. The incident began at approximately 2 a.m


MV Cape Ray Signals DTRA 'Mission Complete'

DTRA Seal

The Defense Threat Reduction Agency announces the successful completion of the Cape Ray's mission to destroy Syria's chemical weapons components at sea. The Defense Threat Reduction Agency/U.S. Strategic Command Center for Combating Weapons of Mass Destruction (DTRA/SCC-WMD) is pleased to


Doosan Delivers a ‘World’s First’ to NASSCO

The MAN B&W 8L70ME-GI engine pictured at Doosan’s Changwon works in Korea (courtesy Doosan Engine)

Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA. The new engine is capable of operation on LNG and/or bunker C oil and will power the first of two 3


VSTEP Delivers FMB Simulator to Danaos

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Danaos Corporation purchased a NAUTIS DNV Class A FMB Simulator and Instructor Station for training of its fleet members.  The simulator will be delivered and installed by VSTEP at Danaos Shipping Co Ltd. Headquarters in Piraeus, Greece.  


Motion Compensation Aids Offshore Lifeboat Lift

A lifeboat on the Ampelmann system right before installation (Photo courtesy of Ampelmann)

In a refurbishment program to upgrade lifeboats on offshore platforms, Ampelmann completed a second successful reinstallation using its full motion compensation technology. The eight-metric-ton lifeboat was kept completely stationary above the vessel deck


Permanent On-site Collision Damage Repair in Greece

Hydrex diver performing initial inspection of the damaged hull. (Photo: Hydrex)

In July Hydrex mobilized a team of diver/technicians to Syros, Greece, for a complex repair operation on a 118-meter, 8550 DWT chemical tanker. The vessel had suffered large cracks in her hull plating as the result of a collision. She was not allowed to sail any further


LNG Carriers GasLog Financial Results Q2 2014

Image courtesy of GasLog

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30, 2014, excerpted as follows: Highlights Completion of the initial public offering (“IPO”) of


'Double Jeopardy – Trial by Media, Trial by Law' London Opening

HFO Spill: Photo Oil Spill Solutions

BIMCO notes that the highly acclaimed "Double Jeopardy - trial by media, trial by law" first showcased at the BIMCO AGM in Dubai earlier this year is to be brought to the stage in a London theatre production on 3 November. This highly novel event blends theatre


Hiab to Present Sustainable Technology Load Handling at Elmia Lastbil Fair

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  Hiab, part of Cargotec, will showcase its latest sustainable technology of load handling at the Elmia Lastbil fair in Sweden. The presented products include a new vehicle solution for environmentally smart loading, the HIAB S-HiPro 130 refuse collector


LNG America Selects Topside Designer for LNG Bunker Barge

Image: LNG America

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini Class LNG bunker barge scheduled for delivery at the end of 2015. “Taylor-Wharton has been actively engaged in the


Ecuador Coastguard Orders Damen Patrol Boats

Image: Damen

Damen announced it has recently signed a contract with AstillerosNavalesEcuatorianos (Astinave) to construct two Damen Stan Patrols (Spa) 5009 for the Ecuadorian Coastguard. The Ecuadorian shipyard will build both vessels locally with Damen Technical Cooperation


Video: On-water Helicopter Rescue Demo

A King County Sheriff's Helicopter performed a rescue demonstration using a new rescue platform before a group of attendees at this year's Maritime Security West Conference in Tacoma, Wash. on August 18, 2014. The Seattle Fire Department, with the support of King County Sheriff's Office and






 
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