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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels,

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately.

BMT, Endeavour Energy Win Africa’s LNG Import Terminal Contract

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, has been appointed Owners Engineer and lead design consultant by Endeavour Energy for the development

Container Ships

Chevron Hires Viking Princess

Eidesvik Offshore has signed a contract for 19 months with Chevron UK employment for one platform supply vessel (PSV) Viking Princess.    The vessel will be

Wärtsilä Bags BWM Systems Order from Jinhai Shipyard

Wärtsilä Corporation, has received an order for ballast water management systems (BWMS) for three new container ships being built for a major European shipping

CMA-CGM to Call Port of Baltimore

International container shipping company CMA-CGM of France announced that it will begin service within the next couple of weeks to the Helen Delich Bentley Port of Baltimore.

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.1406 sec (7 req/sec)