French LNG Tankship Linings Maker Sets IPO Price
Reuters – Gaz Transport & Technigaz (GTT), a subsidiary of GDF Suez, Total and private equity fund Hellman & Friedman, said in a statement it had priced its IPO at 46 euros per share, valuing GTT at approximately 1.7 billion euros. Earlier this month, GTT - the world's No. 1 maker of insulated hull linings for tankers that carry liquefied natural gas (LNG) - proposed an indicative price range of 41…
Safe Bulkers Squeeze One Percent More Revenue Out of 2013
Greece's Safe Bulkers, Inc. reports Fourth Quarter & Twelve Months 2013 results and declares quarterly dividend on common stock of $0.06 per share for the fourth quarter of 2013. Net revenue for the twelve-month period ended December 31, 2013 increased by 1% to $186.7 million from $184.3 million during the same period in 2012. Net income for the twelve-month period ended December 31, 2013 decreased by 13% to $83.3 million from $96.1 million.
China Shipyard, Yangzijiang, Report Profit Dip in Q4 2013
Reuters – Yangzijiang Shipbuilding Holding Ltd said its fourth-quarter net profit dropped 8 percent on the year, as income from shipbuilding decreased. Privately…
Crowley Maritime Promote Scott Hoggarth V-P
Crowley inform that Scott Hoggarth has been promoted to vice president, West Coast harbor ship assist and tanker escort services. He has assumed new overall responsibilities for marine operations and engineering functions, as well as commercial results for Crowley’s tug services offered in major U.S. West Coast ports. Hoggarth has assumed new overall responsibilities for marine operations and engineering functions, as well as commercial results for Crowley’s tug services offered in major U.S.
Rolls-Royce Power Systems to Take on Successful MTU Trainees
MTU Friedrichshafen informs that 36 young people have just successfully completed their vocational training courses at Rolls-Royce Power Systems AG and its subsidiary MTU Friedrichshafen. The trainees completed technical and commercial courses lasting between two-and-a-half and three-and-a-half years. ʺProvided that their performance and conduct has been satisfactory, the trainees will be offered open-ended contracts,ʺ said Head of Training, Martin Stocker.
Transocean Profit Slides on Lower Rig Demand
Reuters – Transocean Ltd, owner of the world's largest offshore drilling fleet, said on Wednesday that fourth-quarter profit fell 49 percent from a year ago, hurt by lower rig utilization. The company's net profit attributable to controlling interest fell to $233 million, or 64 cents per share, from $456 million, or $1.26 per share, a year earlier. The driller for the oil industry said about $34 million in unfavorable charges affected its profit in the latest quarter…
Seaboard Marine's New PortMiami Gate Complex Opens
Seaboard Marine informs that the new gate facility allows trucks to flow directly from Port Boulevard into the ninety (90) acre Seaboard Marine terminal. The new gates, at the northeast corner of the Seaboard Marine terminal, will benefit Seaboard’s operations and trucker turnaround through streamlining gate processing while improving overall safety and security. Features of the new facility include multiple scales for inbound cargoes and “reversible lanes”.
Aegean Profitable in 2013 Despite Bunker Market Challenges
Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Recorded sales volumes of 2,384,376 metric tons in Q4 2013 and 9,941,061 for the full year. Recorded gross profit of $75.0 million in Q4 2013 and $286.0 million for the full year. Recorded operating income of $14.5 million for the quarter and $48.8 million for the full year.
Fire On Board Royal Australian Navy Submarine
This afternoon HMAS Waller, one of the Royal Australian Navy’s submarines, experienced a fire whilst on the surface off the West Australian coast. Emergency response…
Western Refining posts loss due to high-cost crude
Western Refining Inc reported a fourth-quarter loss as the cost of the crude oil it processes rose from the year-earlier period when they posted a profit. The U.S.
Maersk Beats Profit Forecast on Shipping Business
Q4 net profit falls to $936 mln vs $808 mln forecast; Company will issue bonus shares. Danish shipping and oil group A.P. Moller-Maersk said 2013 net profit fell…
Frontline Expects Improved Results after Losses Narrow
Net loss $13 mln in Q4 vs forecast $18 mln loss; Repayment of debt dependent on improving tanker rates. Oil tanker firm Frontline expects its operating result in…
Accident Prompts TAQA to Shut Down UK North Sea Platform
The 12,000 barrel-per-day (bpd) Harding oil platform in the UK North Sea is being shut down as a precaution after a worker fell off and died early on Thursday, a spokesman for operator TAQA said.
Two Years after Concordia Wreck, Captain Returns Aboard
Schettino's first visit aboard since 2012 shipwreck; Former captain accompanying investigators as defendant as new probe into unauthorized visit by Costa officials unfolds.
BP Loses Bid to Block Seafood Fund Payments
A U.S. federal judge on Wednesday denied BP Plc's request to halt payments from the $2.3 billion fund it created to compensate commercial fishermen for financial…
BSEE's Salerno Visits Arctic Challenger, USCG, ABS Leaders
On February 20 and 21, 2014 Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno and BSEE Alaska Region Director Mark Fesmire traveled to Bellingham, Wash. to meet with senior leaders from the U.S. Coast Guard and the American Bureau of Shipping and see first-hand Shell's containment system aboard the Arctic Challenger. Director Salerno and Alaska Region Director Fesmire also visited with Coast Guard representatives at the Coast Guard's District headquarters in Seattle.
SCHOTTEL Propelled Tugs for Post-Panamax Era
The Panama Canal Authority is investing in especially powerful tugs for the Post-Panamax era: 14 tractor tugs and 13 ASD tugs with SCHOTTEL propulsion systems were commissioned in the last four years. The youngest generation of 14 tractor tugs delivered by Astilleros Armon Shipyard was recently completed. One tug after another started in Spain and travelled the high seas for about a month, on their own and under their own power. They have a bollard pull of 85 tons.
Freighter Runs Aground in Elizabeth River
The U.S. Coast Guard said it is investigating a 590-foot, 35,000 dwt freighter that ran aground Wednesday night in the Elizabeth River near Hospital Point in Portsmouth.
AGOR 27 R/V Neil Armstrong Launched
Seattle-based Naval Architecture and Marine Engineering company Guido Perla & Associates, Inc. (GPA) reports that the launching ceremony of the AGOR 27 R/V Neil Armstrong was held at Dakota Creek Industries (DCI) in Anacortes, Wash., on February 22, 2014. Construction of the complex R/V Neil Armstrong and her sister vessel AGOR 28 R/V Sally Ride, also well under way at DCI, have progressed according to plan, meeting original schedule and cost baselines.
Aigua Sea School Expands Simulator Capacity
Six months after the initial installation of a classroom of NAUTIS Desktop Trainers, the Aigua Sea School in Mallorca has placed a follow-up order to further expand its simulator training capacity. The follow-up order for NAUTIS simulators was placed after positive feedback from both students and instructors about the ease of use, realism and advanced training possibilities the NAUTIS Desktop Trainers offered.