Fredriksen Joins Rival for New Capesize Firm
Shipping tycoon John Fredriksen is joining one of its shipping firms with rival Knighsbridge Tankers Ltd to create the largest U.S. listed Capesize firm, which will…
Korean Ferry: Pair Drowned with PFD's Tied Together
A boy and girl trapped in a sinking South Korean ferry with hundreds of other high school students tied their life jacket cords together, a diver who recovered their bodies said…
Diamond Offshore profit falls as rig demand softens
Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 17 percent drop in quarterly profit as demand fell for rigs used in deep water drilling.
Wärtsilä Reports Healthy Ship Power Sector in Q1 2014
In its interim financial report January to March 2014 Wärtsilä notes healthy development in ship power and services offsetting challenges in power generation markets. "In line with our expectations, first quarter net sales developed well with profitability at 8.9%. Favourable development was also seen in the operating cash flow. The power plant markets remain challenging with customers continuing to…
No Lift for Konecranes as Q1 2014 Profit Slips
Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit, excluding one-off items, fell to 15.6 million euros ($22 million) from 23.1 million a year earlier and well below the average analyst expectation of 22 million in a Reuters poll. The company, whose cranes are used in factories…
Marine Diesel Purification Breakthrough by SurePure
Liquid photopurification specialist company SurePure Inc. apprises of a breakthrough in the microbiological purification of contaminated marine diesel fuel, using SurePure's technology as an alternative to biocide addition or excessive micro-filtration. SurePure explains that the contamination of diesel fuel is a significant problem for the maritime shipping industry, leading to extensive waste of fuel and environmental contamination.
GulfMark Offshore Records its Highest Ever Q1 Revenue
He continued, "We came in just under the midpoint of our first-quarter revenue guidance, which resulted from slightly lower utilization than we originally anticipated, but overall, the average day rate increased during the quarter and we feel comfortable reaffirming our full-year revenue guidance of between $525 and $555 million. Consolidated revenue for the quarter increased 23% year-over-year, and we expect revenue will increase more than 10% in the second quarter…
GAO: Limited Commercial Arctic Development Foreseen
Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining. In light of the importance of U.S. efforts to effectively manage Arctic issues, GAO was asked to examine U.S. actions related to developing and investing in Arctic maritime infrastructure, which it did without making any recommendations.
Canadian Icebreaker Refit Contracts Awarded
The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S. St-Laurent'. The shipyard portion of the work will be carried out by Chantier Davie Canada Inc., a sub-contractor to Babcock Canada. The CCGS Louis S. St-Laurent is Canada’s largest and heaviest icebreaker. While in drydock at the Davie Shipyard in Levis, Quebec, the vessel will undergo critical maintenance.
Atkins Gain Maersk Oil Engineering Contract
Design, engineering and project management consultancy Atkins, says it has been awarded an engineering support contract covering three of Maersk Oil’s UK assets in the North Sea. The Gryphon FPSO, Global Producer III FPSO and Janice FPU are planned for major offshore inspection, repair and maintenance (IRM) works this year, in addition to field expansion works. Maersk has committed to this plan by contracting a dedicated Dive Support Vessel (DSV) for 365 days.
Brokers Marcon Conclude Ocean Deck Barge Sale
Marcon International, Inc. of Coupeville, Washington says that Pacific Coast Maritime, Inc., Seattle, Washington, a subsidiary of Harley Marine Services, Seattle, has concluded the sale of its 240’ ABS ocean deck barge “HML 240-2” (ex-Aqua 242, MK-242, Foss 242) to Island Tug & Barge Co. also of Seattle. Marcon International explain that the 240’ x 60’x 16’ flat deck barge was originally built by Todd Shipyards Corp.