Maritrans Comments on Impact of Three Storms

Tuesday, September 21, 2004
Maritrans Inc., announced that following Hurricane Ivan, the Company's fleet is operating under regular conditions and servicing ports in both the Southeast and Northeast. The severe weather conditions caused by Hurricane Ivan as well as Hurricanes Charley and Frances resulted in temporary delays in service. Jonathan Whitworth, CEO of Maritrans, commented, "Consistent with Maritrans' commitment to adhere to the highest safety and environmental standards, we implemented precautionary procedures that protected our crews, our vessels and our customers' cargos during these three storms. While erratic weather is not unusual during the third quarter, we experienced three significant storms in a five-week period that will result in losing a total of approximately 60 operating days across the fleet. Despite a stronger spot rate environment in the third quarter of 2004 relative to the same period in 2003, we expect the storms to have an impact on earnings for the quarter. We do not anticipate any long-term effects from the storm and continue to effectively meet the demand for petroleum product in Florida and lightering services in the Delaware Bay."

Maritrans also announced that the OCEAN 193 commenced its rebuilding process on September 5, 2004. The OCEAN 193, which will be renamed the M209, is the sixth vessel to be rebuilt out of the nine single-hull barges requiring conversion to a double-hull structure. The M209 rebuild is expected to be completed in the spring of 2005. The vessel's carrying capacity will be increased by approximately 30,000 barrels by inserting a midbody during the rebuilding process.

Mr. Whitworth added, "We are pleased to further implement our patented rebuilding program and remain well ahead of competitors in operating an OPA-compliant double-hull fleet. With over 64% of our vessels double-hulled compared to an industry average of 45%, we are poised to benefit from the expected long-term shortage in Jones Act tonnage. Maritrans will continue to focus on providing customers with a quality fleet that meets their exacting requirements."

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

DOF Installer Sells Offshore Vessel

DOF Subsea AS subsidiary, DOF Installer ASA, reported the sale of one of its three sister ships, an anchor handling tug supply (AHTS) vessel, to an international buyer.

Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Container Ships

Chinese Manufacturing Expansion Affects Shipping Demand

The expansion of the Chinese Manufacturing Industry continued in September at unchanged pace as compared to the month before, BIMCO reports. The manufacturing industry

Going Big for Sustainability

Orkot Marine Bearings, developed and manufactured by Trelleborg Sealing Solutions, contribute to the build of the world’s largest and most efficient containerships,

MOL Restructures Asia to S. Africa Service

Mitsui O.S.K. Lines, Ltd. (MOL) announced the restructuring of its existing Asia to South Africa liner services into two direct loops. One service will call South China,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1712 sec (6 req/sec)