Ultrapetrol Expands PSV Fleet to 14 Vessels

MarineLink.com
Thursday, October 31, 2013

Ultrapetrol (Bahamas) Limited, an industrial transportation company serving marine transportation needs in three markets (river business, offshore supply business and ocean business), announced it has taken delivery of two new Platform Supply Vessels (PSVs) of the 4,500 Class type powered by diesel electric engines, DP2, FiFi1, directly from the building yard in China which have cost about $32 million each. The company initially has funded the vessel purchases with its own cash. Ultrapetrol also exercised an option to purchase a sister vessel on identical terms and conditions. Following delivery of this additional vessel, which is expected in the fourth quarter, Ultrapetrol's PSV delivered fleet will increase to 14 vessels.

Felipe Menendez, Ultrapetrol's President and Chief Executive Officer, said, "With the addition of these modern vessels, which are capable of supporting deep sea drilling in both the Brazilian and North Sea and other international markets, we have positioned the company to both enhance its earnings potential in the near-term and further take advantage of the long-term favorable fundamentals in the offshore supply industry."

Ultrapetrol also announced that notice of cancellation of a shipbuilding contract with an Indian shipyard for Hull No. V-387 (UP Onyx) was served on the yard due to excessive delays in delivering the vessel. The appropriate repayment demands have been made under the refund guarantees issued by certain banks.

ultrapetrol.net
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Total Proposes 0.61 ‎€ per Share Dividend

The Board of Directors of Total met on February 10, 2016, and agreed to propose to the Annual Shareholders’ Meeting on May 24, 2016, a 2015 annual dividend of 2.

News

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

42 People Rescued after Abandoning Ship off Hawaii

Forty-two people are safe after abandoning ship approximately 1,800 miles south of the Hawaiian Islands, Thursday, the U.S. Coast Guard reported.   Crewmembers

Yacht Club Takes Delivery of New Dredger

Rose City Yacht Club, a long-standing private marina and social club along the Columbia River in Portland, Ore., recently took delivery and startup of a new 8-inch Badger Class dredge from Reserve,

Vessels

OSD Designs Research Vessel for TORI

Offshore Ship Designers (OSD-IMT) has signed a new contract to design an IMT2001 Scientific Research Vessel for the Taiwanese Ocean Research Institute (TORI).    The

Sea IT, Veritas Tankers Ink Long-term Software Deal

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry,

Interior Facelift for Queen Mary 2

Cunard’s luxurious flagship, the iconic 2,620 passenger ocean liner Queen Mary 2, will undergo an interior refit at the hands of McCue Marine during a 25-day multimillion-pound

Offshore Energy

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Neptune Awarded Kitan Contract

Neptune has been awarded an air diving services contract by Technip Oceania Pty Ltd (“Technip”) for the Kitan disconnection project. The project is offshore

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
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: 0.1041 sec (10 req/sec)