Deep Down Reports Q1 2011 Results
Deep Down, Inc. (OTC Bulletin Board: DPDW) (“Deep Down” or the “Company”), an oilfield services company specializing in products and services for the deepwater and ultra-deepwater oil and gas industry, today announced a net loss of $1.8 million for the first quarter of 2011, an improvement of $0.7 million, or 28%, over the same period in 2010. For the first quarter of 2011, Deep Down reported a net loss of $1.8 million…
Hamburg Süd Focuses on Sustainability
Hamburg 19 Mai 2011. A few days ago the Fraunhofer Working Group for Supply Chain Services SCS published the study “Sustainability Index for Logistics Service Providers”. The study analysed how transparently logistics service providers report on their activities in the area of sustainability and the measures they use to put the idea of sustainability into practice. Hamburg Süd received a thoroughly positive assessment on both counts.
Box Ships Takes Delivery of Containership
ATHENS, Greece, May 19, 2011 – Box Ships Inc., (NYSE: TEU), or the Company, a global shipping company specializing in the transportation of containers, announced today that it has taken delivery of the MSC Siena, a 4,546 TEU container vessel built in 2006, from an unaffiliated third party and the CMA CGM Kingfish, a 5,095 TEU container vessel built in 2007 from Paragon Shipping. The MSC Siena has a…
Thailand’s Marsun Shipbuilder Grows Their Crewboat
Thailand’s Marsun Co. Ltd. has built a number of in-house designed 118-ft crewboats. Earlier this year they launched a 131-ft version. Delivered in February the Uniexpress 18 went into service in the Gulf of Thailand for owner Uniwise Offshore Ltd. transporting up to 70 workers to and from oil rigs. In addition to personel, the boat can carry up to 50 tons of cargo on the 120 square-meter after deck. Tankage is provided for 50,000 liters of fuel and 20,000 liters of water.
1,200HP Tug Aries Leased in Alaska
C & K Marine of Anchorage, Alaska has leased the 75' x 27' x 11' steel, twin screw tug "Aries" from Olympic Tug & Barge, Inc. of Seattle, Wash. The lease was arranged through the auspices of Marcon International, Inc. of Coupeville, Wash. The "Aries" is a conventional Gulf Coast style tug, built in 1980 by LAD Companies in Gibson, Louisiana. The U.S. flag tug is powered by a pair of GM 16V92NA diesels producing a total of 1250 HP @ 1900 RPM…
Progress Afoot in Wash. State Ferry System
The Joint Legislative Audit and Review Committee (JLARC) has issued a report noting the state ferry system’s progress in meeting legislative requirements for capital cost accounting passed in 2007.
Seanergy Maritime Holdings Reports Q1 Results
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP; SHIP.W) announced today its operating results for the first quarter ended March 31, 2011. “Against challenging conditions, with the BDI down 50% from Q1 2010, Seanergy’s strategy of securing long term agreements with reputable charterers, as well as the fact that we have been operating a larger fleet this year, effectively insulated our revenues from the worsening market environment seen during the first quarter of the year.
Costa Favolosa Finishes Sea Trials
The Costa Favolosa has successfully completed the official sea trials. The naming ceremony is scheduled for 2nd July in Trieste, with an event dedicated to the 150th anniversary of the Unification of Italy. The Costa Favolosa, the new flagship of Costa Cruises, Italy’s largest tourism group and Europe’s no. 1 cruise company, has successfully completed her official sea trials. The ship, the 15th in Costa’s fleet…
Tidewater Reports Q4 Results
Tidewater Inc. (NYSE:TDW) announced today fourth quarter net earnings for the period ended March 31, 2011, of $12.0 million, or $0.23 per share, on revenues of $254.0 million. For fiscal year ended March 31, 2011, net earnings were $105.6 million, or $2.05 per share, on revenues of $1,055.4 million. For fiscal year ended March 31, 2010, net earnings were $259.5 million, or $5.02 per share, on revenues of $1,168.6 million.
Dryships Increased Backlog for Ocean Rig UDW
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced today that Ocean Rig UDW Inc., its majority owned subsidiary, has secured further backlog, as Borders & Southern plc have declared two optional wells under the existing drilling contract for the harsh environment drilling rig Leiv Eiriksson.
ABS Opens Office in Stavanger
Classification society ABS announces the opening of an office in Stavanger, Norway to further extend its global reach and provide dedicated support to its growing Norwegian client base. Known for its leadership in offshore classification and technology, the society’s Stavanger office will be staffed with a professional team of offshore engineers and surveyors focused on delivering premium class service to the region.
Seasure Shipping Launches Vesselsvalue.Com
A London-based firm of Sale & Purchase shipbrokers established in 1993, today announced the launch of VesselsValue.com, the first online service that provides automated, data-driven valuations, signalling a change in the way ocean going vessels are valued. VV’s software processes the global fleet using all comparable sales, adjusting for sale recency, ship specifications and changes in freight earnings, to produce real time market values in seconds.
Christening of MV Hon. James L. Oberstar
On Tuesday, May 24, 2011, the Interlake Steamship Company vessel M/V Hon. James L. Oberstar will be christened at Duluth, Minn. Mr. Oberstar and his wife Jean, the Sponsor of the ship, will be on hand for the christening. Due to Homeland Security regulations, only invited guests will be allowed access to the vessel for tours beginning at 9 am, followed by a press conference at 9:30 am and the christening ceremony at 10:30 am.
MARAD Honors Memory of Richard Oliver Kelleher
Maritime Administrator David Matsuda today honored the memory of Richard Oliver Kelleher during the U.S. Department of Transportation’s National Maritime Day observation. Administrator Matsuda presented six posthumous awards to the family of Kelleher, whose death at sea during World War II symbolized the sacrifices of all U.S. merchant mariners. Accepting the awards was Kelleher’s brother, Herb Kelleher, founder of Southwest Airlines.
Nordic Tankers Marine Chooses Transas Marine Course
Nordic Tankers Marine (Denmark) has chosen Transas Marine solutions for the ECDIS Training of its officers. Transas Marine has supplied 35 sets of Transas ECDIS Computer Based Training to Nordic Tankers Marine. Mr. Hanus Mikkelsen, Director Marine HR, Nordic Tankers Marine says: 'Training is a key element in transition to ECDIS. All our officers attend 5-days ECDIS generic training course ashore and…
Premiere of MAN Diesel & Turbo Gas Engine
At a major event at its Diesel Research Centre in Copenhagen today, MAN Diesel & Turbo presented its ME-GI gas engine to a 300-strong invited audience of customers, licensees and journalists. The unveiling of the two-stroke engine represents the culmination of many years’ work that began in the 1990s with the company’s prototype MC-GI dual-fuel engine. MAN Diesel & Turbo originally announced plans to carry out full-scale testing of the new engine in September 2010.
BOEMRE Discusses Science in Offshore Energy Development
Stressing the importance of scientific integrity in decision-making regarding offshore energy development, Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) Director Michael R. Bromwich today highlighted the role of the bureau’s Outer Continental Shelf (OCS) Scientific Committee in evaluating the bureau’s research and scientific agenda. “The Scientific Committee is a vital part…
Industry Professionals Undecided on Future Oil Price
Oil and gas industry professionals are divided in opinion on whether the price of a barrel of oil will exceed $150 by the end of 2011, according to an Industry Snapshot poll conducted by GL Noble Denton at the SPE Offshore Technology Conference (OTC) 2011 in Houston. 52% of participants believed that oil will not exceed $150 per barrel by the end of 2011, while 48% thought it would. Nearly three quarters…
STX OSV Contracts for Two PSVs
STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, is pleased to announce that it has secured new contracts for the design and construction of two Platform Supply Vessels (PSV) for Farstad Shipping. The total value of the contracts amounts close to NOK 600 million. The vessels will be of STX OSV’s own PSV 08 design. Deliveries…
Wärtsilä Opens New Workshop In Gdansk
Wärtsilä's new workshop in Gdansk, Poland strengthens its service offerings to local shipping customers and others visiting Poland. In addition to advanced engine service work, the new workshop will also provide fuel system overhauls and overhauls of bow thruster units. Wärtsilä Corporation opens a new workshop in Gdansk, Poland on 20 May 2011. Located close to Polish shipyards and ports, the workshop…