Great Offshore Net Plunges
According to a Feb. 2 report from Reuters, offshore and oilfield services firm Great Offshore (GOFS.BO) posted a 96% fall in net profit in Oct-Dec, dragged down by lower operating income…
OMSA New Leadership: Hornbeck, Adams
Todd Hornbeck will succeed Otto Candies III as chairman of the Board, Robert Clemons will advance to Vice Chairman and Ben Bordelon will serve as Secretary and Treasurer. Jim Adams, who had been working in his interim position since August, was named as the association’s President and CEO. “I want to thank Otto Candies, III for his remarkable leadership through a very challenging time for OMSA. He…
Costamare Shipbuilding, Chartering, Fleet Renewal Contracts
Costamare Inc. (NYSE: CMRE) announced that it has contracted with Sungdong Shipbuilding & Marine Engineering Co., Ltd. for the construction and purchase of two newbuild containerships…
This Day in U.S. Coast Guard History – February 3
1801- Treaty of peace with France was ratified on this date, thereby ending the "Quasi-War," in which cutters of the Revenue Marine had rendered outstanding service.
This Day in U.S Naval History – February 3
1801 - Senate approves peace treaty with France ending undeclared naval war that began 1798 1917 - US severs diplomatic relations with Germany (Source: Navy News Service)
Passenger Vessel Market Update
MarineNews spoke with industry experts to get an overview of the passenger vessel market as it stands today, including a legislative update and business leaders’ insights on pricing, ridership and vessel construction and renovation. Actions in Congress this year provided a mixed bag for passenger vessel operators. Because of the new tax law, private operators will be able to take advantage of an immediate 100% depreciation deduction for capital investments made in 2011.
Harley Marine Expands Service into New Port
Harley Marine Services has expanded its service to the American Gulf by acquiring the former MGI of Houston, Texas. This business will be operated under Harley Marine…
VT HALTER Lays Keel for Navy Survey Ship
VT Halter Marine, Inc. held a keel laying ceremony for T-AGS 66 USNS Maury, which is currently under construction at Halter Moss Point. In December 2009, VT Halter…
Marine Travelift Promotes Johnson
Jason Johnson was promoted to North American Sales Manager for Marine Travelift, Inc. in Sturgeon Bay. Johnson will be responsible for business development and marine sales in the Americas for the Company. Johnson was hired by Marine Travelift in 2008 as a Sales Engineer. He holds a Bachelor of Science Degree in Marina Management from the Maine Maritime Academy, and serves on the IMI (International Marina Institute) Advisory Committee.
CNOOC Searches for Oil in U.S.
According to a report from the Associated Press, China's state-owned offshore oil and gas company is intensifying its search for oil in the western United States. CNOOC Ltd.
L.A. Council Rejects Shipyard Plan, Protects Port Dredging
According to a Feb. 1 report from the Los Angeles Times, there will be no new ship-building and repair yard at the Port of Los Angeles at this time. The City Council…
Indian Shipbuilding Industry Positioned for Growth
According to a Feb. 2 report from the Machinist, a research study by Export-Import Bank of India (Exim Bank) assessed that the shipbuilding industry in the country…
CMA CGM, YILDIRIM $500M Equity Note, New Board
In accordance with the agreements signed on 25 November 2010 between CMA CGM Group and the Yildirim Group, CMA CGM announced that it has issued $500 million in Redeemable bonds…
Inchcape Shipping: Bell Rock Lighthouse Bicentenary
Eleven miles off the coast of Arbroath in Scotland, the Bell Rock Lighthouse, standing on the Inchcape Reef, has withstood two centuries of vicious storms and powerful North Sea surges to safely guide ships away from the dangers beneath. The Feb. 1 marked the 200th anniversary of the lighting of the beacon and sponsored by Inchcape Shipping Services, the anniversary will be celebrated with a series of events in Edinburgh, Arbroath and beyond.
Argentine Grains Strike Delays Ships
shipments from one of the world's biggest food suppliers. Argentina is a leading exporter of soy, corn and wheat. their cargoes at ports near the central city of Rosario.
TEN Sells Aframax Tanker Opal Queen
Tsakos Energy Navigation Limited (NYSE: TNP) today announced the sale of the 2001-built aframax tanker Opal Queen to an international operator. The delivery of the…
This Day in U.S. Coast Guard History – February 1
1871- Using his administrative authority Secretary of the Treasury George S. Boutwell re-established a Revenue Marine Bureau within the Department and assigned Sumner I.
This Day in U.S Naval History – February 1
Do Propellers Sing?
Yes, sometimes they sing: Some propellers in service produce a high-pitched noise, often referred to as “singing.” This sound typically is a clear harmonic tone much like a humming or a ringing wine glass. More of an annoyance than anything harmful, the causes of singing are not completely understood. Many theories have been put forward to account for the phenomenon of singing, but it appears to be affected by critical factors for which the theories make no allowance.
Liberian-Flag Fleet Doubles in 10 Years
The Liberian-flag fleet posted record growth figures in 2010 and has now doubled in size in the ten years since the management of the Liberian Registry was assumed…