Chariot Oil & Gas Get Licences for 3 Blocks in Namibia
Namibian Portfolio. In an update it informed about its Namibian portfolio, its repositioning in the region and forward work programmes across these licences. These steps improve Chariot's negotiating position in partnering discussions and provide further commercial optionality. The move also aligns this part of Chariot's portfolio with its strategy of being a fast follower and managing risk whilst retaining significant equity and acreage positions.
STEALTHGAS 2Q And 1H 2014 Results
STEALTHGAS INC. a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, released today its unaudited financial and operating results for the second quarter and six months ended June 30, 2014. § Revenues for the three months ended June 30, 2014 amounted to $31.9 million, an increase of $1.6 million, or 5.28%, compared to revenues of $30.3 million for the three months ended June 30…
KKR & Borealis Maritime Acquire 9 Containerships
KKR and Borealis Maritime say they have acquired a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank. Financial details of the transaction were not disclosed. In 2013, KKR and Borealis Maritime formed a joint venture named Embarcadero Maritime to invest in distressed shipping assets.
EOC Takes Full Ownership of OSVs
On 26 August 2014, EOC Limited agreed to acquire 50% of the entire issued share capital of Lewek Antares Shipping Pte. Ltd. (the "Target") , a company incorporated under the laws of Singapore, from Konquest Marine Pte Ltd ("KMPL"). Completion of the Acquisition shall take place on or around 28 August 2014. Prior to the Acquisition, the Target was jointly owned by KMPL and Ezra Holdings Limited ("Ezra"), the largest shareholder of the Company, in a 50-50 proportion.
Navy Autonomous Underwater Vehicle Delivery Milestone
Commander, Submarine Development Squadron 5 (CSDS 5), Detachment UUV, informs of the delivery of Large Training Vehicle 38 (LTV 38), an unmanned undersea vehicle (UUV), which makes LTV 38 the first UUV to join the vehicle inventory used by detachment UUV at Naval Undersea Warfare Center Keyport. LTV 38 is able to perform at a maximum depth of 1,000 meters for up to 72 hours. It is designed as a full-pressure hull vehicle…
G E Shipping Sells General Purpose Product Tanker
The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell the 1991-built General Purpose Product Tanker Jag Prachi (28,610 dwt). The vessel will be delivered to buyers in September-October, 2014. The company’s current fleet stands at 30 vessels, comprising 22 tankers (eight crude carriers, 12 product tankers and two LPG carriers) and eight dry bulk carriers (one Capesize, three Kamsarmax and four Supramax) with an average age of 10 years aggregating 2.42 mn dwt.
Tullow Oil Exploration and Appraisal Update in Kenya
Tullow Oil plc announces the successful results from a series of exploration, appraisal and testing activities conducted in Blocks 10BB and 13T onshore Kenya. The Etom-1 well in Block 13T is the most northerly well drilled to date in the South Lokichar basin, 6.5 km north of the previous Agete-1 discovery. The well encountered approximately 10 metres of net oil pay, extending the proven oil basin significantly northwards.
Keel Laid for Holland America Line’s New Ship
Holland America Line celebrated the keel laying of its new 2,650-guest Pinnacle Class ship on August 22 at Fincantieri’s Marghera shipyard in Italy. A 680-ton block…
HMS Illustrious Decommissioned
HMS Illustrious – the last of the Royal Navy’s Invincible-class aircraft carriers – was decommissioned at Portsmouth Naval Base today, marking the end of her 32-year career. The ship’s White Ensign was lowered for the final time during the decommissioning ceremony in front of hundreds of guests, ending an era which began with the launch of her sister ship HMS Invincible in 1977. Illustrious is being replaced as the nation’s helicopter carrier by HMS Ocean which has just undergone a £65m refit.
Info-X Invests in $5m Headquarter Expansion
Info-X Software Technology, provider of software solutions and back-office support to U.S.-based transportation companies, introduced its newly renovated and expanded $5 million headquarter facility situated in Gurgaon, the high-tech capital of India. The facility expansion accommodates the growing number of new employees, which increases 15-20% a year. “The success of our back-office business for the forwarding and NVO business in particular is driving the need for more space…
Long Beach Cargo Operations Resume
The Port of Long Beach resumed full cargo-handling operations Thursday, Aug. 28, after a lessening of storm surges from Hurricane Marie that had battered south-facing piers and interrupted the loading and unloading of four vessels a day earlier. With swells down to 8 to 10 feet, from a peak of 15 feet or more on Wednesday, Total Terminals International on Pier T went back to work on two Mediterranean Shipping Co. container ships.
US Rail Jams Force Rush to Roads and Rivers
U.S. coal-burning power utilities are being forced to turn to barges and more expensive trucks to move coal, desperate to shore up stockpiles left dangerously low by the widespread bottlenecks on rail networks. The shift in how coal is being delivered to some power plants from mining regions such as Illinois Basin and comes amid persistent railroad delays that began during last year's severe North American winter.
Daihatsu Joins ClassNK Research Project
Classification society ClassNK announced that it will embark on a joint research project together with Daihatsu Diesel Mfg. Co., Ltd. Through the partnership, ClassNK will support research that tests the extensibility of condition based monitoring system and automatic diagnostic system “ClassNK CMAXS LC-A” for auxiliary diesel engines manufactured by Daihatsu Diesel Mfg. Co., Ltd. Although there has…
Jones Act is Critical to Conn. Economy
The American Maritime Partnership (AMP) joined with the Shipbuilders Council of America (SCA) to highlight new data that shows Connecticut ranks fourth among all states in private sector jobs related to the shipbuilding and repair industry. Supported by the Jones Act, which ensures vessels operating in our domestic waterways are U.S.-built, U.S.-crewed and U.S.-owned, Connecticut is home to 22,710 shipyard jobs, according to a recent study by the U.S.
Restoring the NY-NJ Harbor Estuary
Significant challenges often require a team effort. Restoring the New York-New Jersey Harbor Estuary is one of them. A group of professionals from the Army Corps of Engineers, New York District, joined 200+ scientists, engineers, academics and restoration professionals on June 3, 2014 at a major symposium in Manhattan discussing progress restoring the NY-NJ Harbor Estuary and initiatives to continue improving the area’s ecological health, contributing to the region’s coastal resiliency.
Ferry Runs Aground in Lynn Harbor
Ferry Cetacea ran aground about a quarter of a mile from the pier in Lynn Harbor, Massachusetts yesterday, with 13 passengers and four crew aboard, the U.S. Coast Guard (USCG) reported.
CWind Launches New Vessel
CWind, a provider of integrated services to the offshore wind industry, has launched its new vessel CWind Fulmar in a naming ceremony in Brightlingsea. The CWind Fulmar, built by CTruk Ltd. at its Brightlingsea boatyard, is due to join three other CWind vessels on a three-year O&M contract at West of Duddon Sands. The vessel, the third SWATH 20 built by CTruk, boasts mixed-flow stainless-steel Rolls-Royce waterjets for a targeted 25% increased bollard pull.
Today in U.S. Naval History: August 28
Today in U.S. 1867 - Capt. William Reynolds of Lackawanna raises U.S. flag over Midway Island and took formal possession of these islands for the U.S. 1942 - 120 women, commissioned directly as ENS or LTJG, reported to "USS Northampton," Smith College for training. 1952 - Units on USS Boxer (CV-21) launch explosive-filled drone which explodes against railroad bridge near Hungnam, Korea. First guided missile launched from ship during Korean Conflict. 1965 - Cdr.
The continued maturation of Offshore Service Vessel design is embodied in recent contracts and deliveries. Ulstein Verft subsea newbuild Island Performer was built for Island Offshore to be a flexible, RLWI/IMR vessel, destined to serve its first five years for FTO in the Gulf of Mexico. “The vessel is customized to suit the scope of work in the FTO contract, in which RLWI (Riser-less Light Well Intervention) and IMR (Inspection/Maintenance/Repair) are the main tasks.
Federal Officials Approve Plans to Replace Mukilteo Terminal
The 60-year-old Mukilteo Ferry Terminal is one step closer to replacement. On Friday, Aug. 22 the Federal Transit Administration signed a record of decision allowing the Washington State Department of Transportation Ferries Division to design and construct a new ferry terminal in Mukilteo, Wash. The Mukilteo terminal is one of the state’s busiest terminals, serving nearly 4 million passengers last year.