Dsd News

The private Norwegian transport and shipping company Det Stavangerske Dampskibsselskap AS (DSD) has entered into an agreement to sell its ferry- and expressboat company Norled to a  private equity (PE) consortium owned jointly by the Nordic infrastructure fund CapMan Infra and the Canadian company CBRE Caledon Capital Management."In recent years, Norled has made significant improvements in many areas. The company has succeeded in combining good and stable operations with success in tender biddings and record-high financial results," said Ingvald Løyning, chairman of Norled.Ingvald added: "At the same time, Norled has undoubtedly consolidated and strengthened its pioneer role in the green shift in maritime industry: First…

European multimodal transport provider Samskip said it will acquire activities associated with Nor Lines AS, marking a major expansion of its shipping, transport and logistics businesses in Norway. Subject to approval by Norway’s competition authorities, Samskip has agreed with the DSD Group to acquire the activities of Nor Lines, which generate an average annual turnover of €110 million ($128.2 million). With its head office in Stavanger, Nor Lines is a diversified logistics business offering domestic and international services.

The Minister for Defence Industry, the Hon Christopher Pyne MP, today announced the appointment of 10 Board Members to the Naval Shipbuilding Advisory Board, chaired by Professor Donald Winter. “The establishment of the Advisory Board is an important milestone in the Government’s naval shipbuilding strategy, ensuring expert, independent advice to Government on all aspects of this historical national endeavour,” Minister Pyne said. Mr Martin Bean, CBE – Vice Chancellor and President of RMIT University, Melbourne, Australia and former Vice Chancellor of The Open University in the United Kingdom. Mr Mike Burgess – After leaving the position of Chief Information Security Officer for Telstra, he is now a Strategic Cyber Security Adviser and Consultant.

Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines. The business, with about 200 employees and an estimated annual turnover of approximately EUR 110 million, will be restructured in order to be aligned with Eimskip’s current operations in Norway. Ingvald Løyning, CEO of DSD, said, “DSD started the process of finding a strategic solution for Nor Lines early this year. We believe that further consolidation is needed in the logistics industry…

Norwegian shipping company DSD Shipping has been fined $2.5m in a US federal court for oil dumping from an aframax. DSD has been sentenced of its convictions in Mobile, Alabama, for obstructing justice, violating the Act to Prevent Pollution from Ships (APPS), tampering with witnesses and conspiring to commit these offenses. Three crew from the 104,000-dwt Stavanger Blossom (built 2007) were also convicted and sentenced to up to six months in jail. $500,000 of the $2.5 million fine is said to have been ordered to be paid to the Dauphin Island Sea Lab Foundation to support marine research and coastal habitat protection in the Gulf of Mexico and Mobile Bay.

The Norwegian shipping company DSD Shipping (DSD) was sentenced to pay a total corporate penalty of $2.5 million as a result of its convictions in Mobile, Alabama, for obstructing justice, violating the Act to Prevent Pollution from Ships (APPS), tampering with witnesses and conspiring to commit these offenses. The company was ordered to pay $500,000 of the penalty to the Dauphin Island Sea Lab Foundation to fund marine research and enhance coastal habitats in the Gulf of Mexico and Mobile Bay. In addition, DSD was placed on a three year term of probation and was ordered to implement an environmental compliance plan to ensure the company’s vessels obeyed domestic and international environmental regulations in the future. The sentence was announced by Assistant Attorney General John C.

A federal jury in Mobile, Alabama, has convicted Det Stavangerske Dampskibsselskab AS (DSD Shipping) and three employees with obstructing justice, violating the Act to Prevent Pollution from Ships (APPS), witness tampering and conspiracy, announced Assistant Attorney General John C. Cruden for the Department of Justice’s Environment and Natural Resources Division and U.S. Attorney Kenyen R. Brown of the Southern District of Alabama. DSD Shipping is a Norwegian-based shipping company that operates crude oil tankers, including the M/T Stavanger Blossom. Also convicted at trial were three senior engineering officers, Bo Gao, Xiaobing Chen and Xin Zhong, employed by DSD Shipping to work aboard the vessel. A fourth employee, Daniel Paul Dancu, pleaded guilty in October.

Norwegian firm Det Stavangerske Dampskibsselskab AS (DSD Shipping), and four of its employees, are now under three-count indictment returned by a federal grand jury in Lafayette, LA, all relating to alleged environmental crimes and their cover ups. The company was indicted in a US court on May 13 charged with obstructing justice and with environmental crimes. DSD Shipping is a Norwegian-based shipping company that operates the oil tanker M/T Stavanger Blossom, a vessel engaged in the international transportation of crude oil. The employees named in the indictment are four engineering officers employed by DSD Shipping to work aboard the vessel: Daniel Paul Dancu, 51, of Romania; Bo Gao, 49, of China; Xiaobing Chen, 34, of China; and Xin Zhong, 28, of China.

A federal grand jury in Mobile, Alabama, has returned a seven-count indictment charging Det Stavangerske Dampskibsselskab AS (DSD Shipping) and four employees with violating the Act to Prevent Pollution from Ships (APPS), conspiracy, obstruction of justice and witness tampering, announced Assistant Attorney General John C. Cruden for the Department of Justice’s Environment and Natural Resources Division and U.S. Attorney Kenyen R. Brown for the Southern District of Alabama. DSD Shipping is a Norwegian-based shipping company that operates the oil tanker M/T Stavanger Blossom, a vessel engaged in the international transportation of crude oil.

New Standard Energy Limited (New Standard) advises that it has received approval for amendments to its five year work program in PEL570 in the Cooper Basin. As part of the revised program, New Standard now has seismic and drilling to commence in Year Two before the new deadline of March 2016, with only minor expenditure on geological studies in Year One required before then. New Standard requested a suspension of the work program for PEL570 acreage and a deferral of the planned seismic due to the uncertainty surrounding the ownership of the Company’s PEL570 joint venture partner, Ambassador Oil and Gas Limited (ASX: AQO, Ambassador), which is the subject of two competing takeover offers.

DSD Shipping AS of Stavanger, Norway, is the latest commercial maritime operation to take advantage of the broadband access and affordable service offered by KVH Industries, Inc. via its compact TracPhone V7 satellite communications system and the mini-VSAT Broadband(SM) service. DSD Shipping recently completed a successful trial on the Stavanger Viking and is now moving ahead with the installation of KVH's 24-inch (60 cm) TracPhone V7 antenna on its nine remaining vessels. Once all the installations are complete, DSD Shipping crew members will have multiple voice lines along with broadband Internet, e-mail, and data access onboard as they travel throughout the mini-VSAT Broadband network's expanding global coverage area.

Wärtsilä has been awarded a contract by DSD Shipping AS of Stavanger, Norway to retrofit the main engines on four DSD Shipping vessels with the Wärtsilä Retrofit Pulse Lubricating System. The Retrofit Pulse Lubricating System (RPLS) is designed to lower the oil feed rate to the engine, thus cutting the consumption of lubricating oil. This creates savings in operating costs, and also has a positive effect on exhaust emissions. The DSD Shipping contract is Wärtsilä's first order for the retrofitting of small bore two-stroke engines with this system.

Litton Industries, after seeing its shares drop more than 60 percent over the past 12 months (see chart, page 2), caught in a bearish defense industry down draft, reported great third quarter results last week. Litton Industries reported that diluted earnings per share rose 23% to $1.35 for the third quarter, compared with diluted earnings per share of $1.10 for the third quarter of fiscal 1999. Excluding a one-time gain on sale of businesses, third quarter diluted earnings per share increased 21% to $1.33. Net earnings for the third quarter were $61.8 million versus $50.9 million for the same period last year. Revenue for the third quarter increased 11% to $1.4 billion, compared with $1.26 billion for the comparable period of the prior year.

Litton Industries, Inc. recently reported results for the third fiscal quarter ended April 30, 2000. Diluted earnings per share rose 23% to $1.35 for the third quarter, compared with diluted earnings per share of $1.10 for the third quarter of fiscal 1999. Excluding a one-time gain on sale of businesses, third quarter diluted earnings per share increased 21% to $1.33. Net earnings for the third quarter were $61.8 million versus $50.9 million for the same period last year. Revenue for the third quarter increased 11% to $1.4 billion, compared with $1.26 billion for the comparable period of the prior year. Revenue for the first nine months of fiscal 2000 was $4.1 billion, a 15% increase over the first nine months of fiscal 1999.

According to Ireland Online, the British government paid more than $305,603 to save a rusting boat which once ferried passengers on to the Titanic. The bid was accepted at an auction in Paris after fears that the SS Nomadic would end up in a breaker’s yard instead of being brought back to Belfast. The ferry was the last White Star vessel to be built at the Harland and Wolff shipyard where the Titanic was launched in 1912. A special charitable trust will now be set up to oversee fundraising and the full restoration of the Nomadic. Campaigners had urged the authorities to intervene and rescue the ship which is regarded as a crucial part of the Titanic legacy and Belfast’s history.