OMSA, Drilling Moratorium Will Cause Hardship
The Offshore Marine Service Association (OMSA) reacted to the Obama Administration’s moratorium on offshore drilling, saying it is already causing irreparable economic…
Guadeloupe Operator Orders Repeat Austal Ferries
Guadeloupe-based ferry operator L’Express des Iles has selected Austal to design and construct two 154-ft high speed catamaran ferries. The order consists of one vehicle-passenger ferry and one passenger ferry, and is the company’s third contract with Austal since 1997. The vessels are intended to operate from Guadeloupe to the Caribbean islands of Marie Galante, Dominique, Martinique and St Lucia, where they will provide an important inter-island link for tourism and trade.
Maritime New Zealand Supports Spill Response
Two technical experts from Maritime New Zealand (MNZ) have flown to the U.S. at the invitation of one of the oil spill response companies assisting with the clean-up of the Gulf of Mexico spill.
CG Investigates Maine Ferry Grounding
Coast Guard investigators are working with the Maine State Ferry Service to determine why the ferry Everett Liberty ran aground with 30 people on board shortly after…
Five More Barrier Islands to Protect La.
"Consistent with all the work undertaken in recent weeks to assess Louisiana's barrier island proposal and gather input from local officials, environmental experts…
GOM Spill: $69M Initial Bill to BP
The Obama Administration sent a preliminary bill for $69.09m to BP and other responsible parties for response and recovery operations relating to the BP/Deepwater Horizon Oil Spill.
Get Rational about Financial Ratios
By Richard J. Paine, Sr. Of the traditional five “C”s of credit: Capacity, Capital, Collateral, Conditions and Character, the first is foremost. It is the ability to repay debt. Financial ratios are the measure of that capacity. Derived from your company’s financial statements, ratios are key to determining your company’s credit rating. Your company’s credit rating will determine your success in securing financing or leasing for the projects needed to grow your business.
Gulf Oil Spill: Ships Face Few Delays
As oil from BP's sub-sea well laps coastal Louisiana, most ships in the Gulf have avoided contact with the spill but owners fear that regulations will be tightened after the disaster, raising their costs. “We've seen no delays from the spill, and it hasn't affected the operations of any of our ships,” said Dean Taylor, president of Tidewater Inc. in late May. Four vessels owned by Tidewater, which is headquartered in New Orleans, have been involved in recovery efforts.
Shallow-Water Drilling Permits Rescinded
According to a June 4 report from The Wall Street Journal, federal regulators rescinded drilling permits issued on June 2 to companies for new oil and gas wells in the Gulf of Mexico…
Canada Announces National Shipbuilding Strategy
Davie Yards welcomed the announcement of the National Shipbuilding Procurement Strategy by the Government of Canada creating dedicated shipyards for the construction…
Seaspan Newbuild & Time Charter
Seaspan Corporation (NYSE:SSW) announced that it purchased and accepted delivery of one 4250 TEU newbuilding vessel for approximately $43m constructed by Zhejiang Shipbuilding Co., Ltd. of China.
This Day in Naval History – June 4
1942 - Battle of Midway (4-6 June) begins; during battle, the 4 Japanese carriers which attacked Pearl Harbor are sunk; this decisive U.S.
This Day in Coast Guard – June 4
1954-USS Asterion and SS Kokoku Maru collided in a heavy fog 40 miles west of San Francisco, killing one crewman of the latter ship and injuring three others. The Coast Guard cutters Magnolia…
Crude Carriers Receives M/T Aias, Option on M/T Atlantas
Crude Carriers Corp. (NYSE: CRU) announced that it took delivery of the M/T Waltz to be renamed M/T Aias (150,096 dwt), June 3, 2010. In addition, the 12-month fixed…
CG Clarifies Pre-Fire Plan Requirements
In a letter dated 3 June 2010, to MRA Director Captain Scott Powell, the U.S. Coast Guard (USCG) clarified its position on how a plan holder can comply with the…