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.
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
By Lara B. Mathews and Karim K. Shehadeh High-speed aluminum vessels are well-recognized and established as providing excellent service in a number of capacities by both private and public operators. These uses include leisure travel and tours and mass transportation of passengers and vehicles. In recent years, the U.S. military has joined the ranks of high-speed vessel users by introducing U.S.-built aluminum twin-hull high-speed vessels for use as Theater Support Vessels (TSVs) and for
European Union governments urged the European Defense Agency (EDA) on January 24 to examine whether high-speed ferries could be used to more rapidly move troops into conflict zones. The idea is based on a system used by the Australian Navy from 1999 to transport troops and equipment to East Timor from the northern city of Darwin using a large commercial catamaran. The 86-meter (282-foot) Jervis Bay catamaran was chartered to the Australian Navy for two years and made 107 trips between Darwin
In the search to find EPA Vessel General Permit (VGP) compliant lubricants, ship owners don't have to sacrifice performance or competitive pricing to meet the regulations. Panolin America offers a range of Greenmarine environmentally considerate lubricants
A team of restoration experts is currently hard at work salvaging a unique World War II aircraft from the bottom of the English Channel. Using cutting edge restoration techniques within a purpose-built polytunnel from First Tunnels, the team hopes to have the rare Dornier 17 ready for exhibition
Strong revenue growth will continue over the next five years as AUV's (Autonomous Underwater Vehicle) are increasingly used in commercial scenarios predicts IBISWorld's market research. The Autonomous Underwater Vehicle (AUV) Manufacturing industry has generated robust growth over the past five
Wärtsilä was contracted to supply its Direct Electric Heating (Wärtsilä DEH) system for Chevron Overseas Congo Limited's Lianzi offshore development project, located off the Republic of Congo and Angolan coasts. The 9,000-kW system will be used to heat the 43-km subsea
Rafael de Góngora Escrivá de Romaní has been appointed Head of the Marine Engineering Strategic Business Unit (MaSBU) and director of the Department of Engineering and Marine Systems of SENER, an engineering and technology group that has a workforce of more than 5
IHC Merwede delivered the Alberto Alemán Zubieta to Autoridad del Canal de Panama (ACP) in Panama City. The formalities were handled by ACP’s Contracting Officer, Mrs. Regina Donelson, after a successful trial period of 30 continuous days on the Panama Canal.
Saving money and the planet, it’s the Holy Grail for today’s cost and image conscious shipowners. Bearing that in mind, fellow open hatch cargo vessel operators should sit up and pay attention to the findings of a new research project conducted by Grieg Star
Crewmembers aboard the 314-ft fishing vessel 'Arctic Storm' extinguised an engine-room fire using the ship's Halon chemical firefighting system. The Coast Guard continues to respond to the vessel approximately 30 miles west of Grays Harbor, Wash.
Uncharted Ice: The U.S. Coast Guard's New Arctic Strategy. U.S. Coast Guard Commandant Bob Papp today revealed the nation's and the Coast Guard's blueprint for Arctic strategy. Long awaited, today's speech at the Willard Intercontinental Hotel in Washington, D.C
Lankofirst said offshore trials of its synthetic fiber rope mooring connector have shown a reduction in mooring line deployment times and improvements in health and safety compared with traditional mooring line plate links and thimbles, reports deepwater mooring rope specialist
Admiral Robert J. Papp, Commandant of the U.S. Coast Guard, to address the Center for Strategic & International Studies (CSIS) forum on May 21, 2013. CSIS Europe Program will host a Military Strategy Forum on the Coast Guard's strategic vision for its future role in the Arctic
W&O designated preferred North American distributor of first United States Coast Guard-approved marine plastic piping system. W&O, a global supplier of marine pipe, valves and fittings, valve automation, and engineered solutions, has partnered with Georg Fischer Piping Systems to bring to
Followers of the Ballast Water Treatement System (BWTS) situation (ie. presumably anyone reading this publication) were heartened last month when the U.S Coast Guard announced its acceptance of nine BWTS as Alternate Management Systems (AMS), helping to finally bring some clarity to ship owners
Guidance circular to be issued for ships calling at ports without reception facilities for Harmful to the Marine Environment (HME) waste, including Hold Washing Water (HWW). Shipowners pleas for greater clarity on what to do when there are no adequate port reception facilities to receive residues
Omega introduced its new Thermistor Probes with M12 Connections, to be featured at the Sensors Expo and Conference. The TH-21 Series thermistor probes are constructed with the a glass encapsulated thermistor element which provide excellent stability and accuracy