The Shearer Group Promotes Two
Naval architecture and marine engineering firm The Shearer Group, Inc. (TSGI) announced it has promoted two members of its team.The Houston-headquartered designer of inland towboats, ferries, workboats, marine construction equipment and barges said on Friday it has promoted Joshua S. Sebastian, P.E. to the position of vice president – operations and Harrison C. Brann, P.E. to engineering manager.Sebastian, a 13-year veteran of the firm, has served as TSGI's engineering manager for eight years.
Marine Construction: Equipment Drives Efficiency
Driving over a bridge, walking on a pier or even docking a boat are activities most people take for granted. Have you ever given any thought to how those structures are constructed over water with the ability to last for generations? For a marine construction company these projects are their lifeblood and it’s their skill and ability to build challenging marine environments around rivers, oceans and even swamps that make complex marine structures possible. One such company in…
How Specialty Lenders Can Propel Marine Operators
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand? Is ownership of the vessel through a loan structure the best option, or would a lease make better use of working capital?
McDermott Order Deepwater S-Lay Vessel
McDermott International inks contract with Keppel Offshore & Marine for construction of a dynamically-positioned combination S-Lay vessel with a 2,000-ton crane. The vessel, tentatively named Derrick Lay Vessel 2000 (“DLV2000”), will be constructed at Keppel Singmarine in Singapore and is expected to take approx 2.5 years to build. “DLV2000 is expected to address a market demand we consider to be extremely robust for deepwater pipelines as well as our traditional markets,” said Stephen M. Johnson, Chairman, President and Chief Executive Officer. Developed by Keppel’s ship design arm, Marine Technology Development (MTD), DLV2000 is equipped to support advanced deepwater pipelay operations that will allow pipelines to be installed at depths of up to 10,000 feet.
McDermott Signs Shipyard Contract
McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced that it will build another high capacity reeled pipelay vessel with top-tier payload capacity, tentatively named Lay Vessel 108 (“LV108”). The vessel will be a sister ship to the recently completed subsea construction vessel the Lay Vessel North Ocean 105 (“LV105”), and is to be built to similar specifications at Metalships and Docks S.A.U. shipyard in Vigo, Spain. “LV108 is another milestone in our vessel renewal program focusing on the subsea construction market for flexible and rigid product installation,” said Stephen M.
