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

People & Company News

OTC Names Technology Award Winners

The Offshore Technology Conference (OTC), which takes place May 4-7 in Houston, has announced 17 technologies that will receive the Spotlight on New Technology SM Award.

Jack W. Fisher Passes Away at 73

Jack W Fisher, president of JW Fishers Mfg. passed away at home after a brief illness on February 20, 2015. He was 73 years old.   The JW Fishers business was started because Fisher,

Piracy Still a Big Threat in the Indian Ocean

Underestimating the security risk in the Indian Ocean could put ships in danger once again, says maritime security company MAST Ltd.   “Whilst recent reports

Container Ships

IACS Comments on MOL Comfort Report

The International Association of Classifications Societies (IACS) informs it will study the final report issued in Japan by the Committee on Large Container Ship Safety (CLCSS),

Are Megaships Game Changers?

Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.

Port of San Pedro Seeks to Fund Upgrades with European Roadshow

Ivory Coast's second largest port of San Pedro will hold a roadshow in France and Britain next month as it seeks to raise 180 billion CFA francs ($300 million) to fund upgrades,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Shipbuilding / Vessel Construction Winch
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: 0.1695 sec (6 req/sec)