Ocean Yield Reports Profits
Oslo-listed owner of chemical tankers Ocean Yield saw second quarter net profit rise to $25.8m from $17.1m for the period in 2014, with its focus on stable earnings from long-term charters. The Board of Directors has declared a dividend of USD 0.1525 per share for Q2 2015. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.61 per share.
Croatia Mulls LNG Facility
A floating terminal for liquefied natural gas (LNG) in Croatia would lower energy prices both for households and the business sector, Croatian President Kolinda Grabar-Kitarovic said. The country’s key energy project is still the liquefied natural gas terminal on the Island of Krk, but a floating LNG facility is an option, Kolinda said. She added that Croatia can learn a lot from the Baltic countries.
Maersk Eyes Greek Ports
APM Terminals, part of A.P. Moller-Maersk, said it is interested in buying into the Greek ports Piraeus and Thessaloniki, slated for privatization if a new bailout deal is agreed between Athens and the European Union, reports Reuters. Maersk will participate in the bidding process for two of the largest Greek ports – Piraeus and Thessaloniki – after the country’s Prime Minister Alexis Tsipras brought the sale of the ports on the table in today’s bailout proposal, Bloomberg reports.
Israeli Drone Crashes near Lebanon's Port of Tripoli
Lebanese Army officials say an Israeli drone crashed in the waters off Tripoli on Saturday, reports Reuters. “At around 8:30 am (0530 GMT), a drone belonging to the Israeli enemy went down in the port of Tripoli, and the army has taken the necessary measures,” the Army command said in a statement, without elaborating. A security official said the pilotless aircraft crashed into the sea. Photos showed a Jewish star and Hebrew writing on the aircraft…
The Hermione Returns to Boston
A replica of the Hermione sailed into jubilation Saturday morning, as hundreds packed into a sunny Boston Harbor, wearing colonial garb and straw hats, listening to the sound of bagpipes, and waving French and American flags. The Friends of Hermione-Lafayette in America, Inc. (FOHLA), a non-profit educational and cultural organization, is sponsoring the historic return of the Hermione to Boston, as part of her U.S. summer tour up the eastern seaboard.
INS Teg in South Indian Ocean for Surveillance
Indian Navy's stealth frigate INS Teg is on a two-month long deployment in the South Indian Ocean to provide surveillance support in the region, a Government of India Ministry of Defence official statement said. It will also be patrolling the Mauritian exclusive economic zone. This is in keeping with India's national objective of ensuring a secure and stable regional environment to allow unhindered economic and social development, not just in India, but also in the entire Indian Ocean Region.
Boxship on Fire in East China Sea
The Japanese-built containership Kamala caught fire around 400km off the coast of the Japanese island of Kuchinoshima in the East China Sea. The accident happened during a voyage from Gresik…
India Shortlists 5 Shipyards for $10.1 Bln Submarines Project
India's top government committee has selected five Indian shipyards to compete for an Rs 64,000-crore ($10.1 Bln) project to build high-tech submarines for the navy. The Indian Navy will soon invite tenders for building six conventional submarines after a high-level committee of the Defence Ministry submitted its report identifying shipyards capable of executing the project. “The Committee has visited all the shipyards in the country and has submitted its report recently.
U.S. Court Finds WesternGeco Patents Valid
The U.S. Court of Appeals for the Federal Circuit recently affirmed the 2014 judgment that ION Geophysical Corp. infringed four seminal WesternGeco LLP patents covering streamer steering technology for marine seismic surveys, and that WesternGeco is the rightful owner of the pioneering technology. In 2009, WesternGeco filed suit for patent infringement against ION's DigiFIN streamer steering system in U.S. federal court in Houston, Texas.
Maersk Discoverer Finishes Well Ahead of Time
In the beginning of May, the crew on Maersk Discoverer reached a great milestone when they finalised their latest well two months ahead of time. The well was another East Nile Delta success for BP, discovering 50 m of gas pay in high-quality Oligocene sandstones. On 5 May, Maersk Discoverer completed the deepest well ever drilled in Egypt and the longest ever drilled in the Mediterranean Sea. What makes the well an even greater success is that it was drilled in 234 days…
USCG Rescues 5 Near Kiribati
Five men are safe, Saturday, after being after being stranded at sea in a 14-foot skiff since Wednesday. The men were rescued by the crew of the motor vessel, Shourong Harmony after an HC-130 Hercules air crew from Coast Guard Air Station Barbers Point spotted the 14-foot aluminum skiff while searching, 184 miles east northeast of Teraina Island, Kiribati. The men were reported to be in good condition once they were rescued.
Lifejacket Donations to boost Safety in Torres Strait
Marine safety in the Torres Strait and Northern Peninsula area is getting a boost with the donation of 1,400 children’s lifejackets as part of the Torres Strait Marine Safety Program (TSMSP) School Based Maritime Safety Education Project. The primary focus of the TSMSP is to improve and promote boating safety in the Torres Strait, which will help reduce the number of search and rescue operations in the area and support the development of the region’s coastal maritime industry.
Typhoon Glances off E. China Coast
China's eastern coast took less of a battering than feared after Super Typhoon Chan-hom changed course and lost much of its strength shortly after making landfall near Shanghai late on Saturday. Chan-hom, which Chinese government meteorologists feared would be the powerful typhoon to hit China in decades, packed winds of 162 kph (101 mph) as it landed on the coast of Zhejiang Province but soon veered back to sea and toward the Korean peninsula.