GasLog Reports Higher Profit in 2Q16
GasLog Partners LP has released its financial results for 2Q16, boasting a profit of US$17.38 million – 38% higher than in 2Q15. Its demand outlook for LNG carriers with long-term charters remains positive. The company also generated US$49.64 million in revenue – 51% higher than 2Q15 – and an EBITDA of US$35.56 million – also 51% higher than 2Q15. Gaslog Partners LP says for Q2, gaslog partners has declared a cash distribution of $0.478 per unit. Its says quartely earnings per unit $0.52.
Navios Maritime Posts 2Q Profit
Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million. It says revenue for three month period ended June 30, 2016 increased by $4.3 million to $22.7 million. The company said it had net income of 28 cents per share. The operator of contracted crude oil tankers posted revenue of $22.7 million in the period. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream stated…
Det Norske to Restore Production at Alvheim after Leak
Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak, stopped production earlier on Thursday. There was no discharge into the sea as a result of the incident, it added. "We are in full control and expect to reach full production at some time during the night," a Det norske spokesman told Reuters.
Insights: Kunkel Weighs in on Propulsion Technology
LNG? Methanol as fuel? Hybrid systems? Tier 4? Reducing noise? Cutting emissions without crushing fuel economy? Marine News readers have questions and Bob Kunkel has answers. Kunkel, President of Alternative Marine Technologies, previously served as the Federal Chairman of the Short Sea Shipping Cooperative Program under the Maritime Administration and Department of Transportation from 2003 until 2008.
A Sea Change in Waterjet Technology
Longtime waterjet propulsion equipment provider NAMJet introduces key advancements for the workboat sector. Back in 2011, when boat builder Birdon went looking for a propulsion system that they could utilize in the bid phases of a multi-boat contract with the U.S. Army, they landed on NAMJet propulsion systems and its TRAKTOR Jet line of high-thrust marine jets. Subsequent to that, and because their Army Bridge Erection boat (BEB) concept…
Friend of the Sea Turns to BMT for Reefer Vessels Certification
BMT Surveys (BMT), a subsidiary of BMT Group, the international maritime design, engineering and risk management consultancy, has been engaged by Friend of the Sea…
ATB Design Comes of Age
The emerging trend of marrying the design of an articulated tug and barge (ATB) to a particular propulsion system to maximize efficiencies of that system has, of late, been taking hold in workboat markets. For example, one recent project involving a dynamic partnership between Bouchard Transportation Co., Inc, Guarino & Cox, LLC (GCL) naval architects, Nautican Research & Development Ltd., integrated propulsion unit manufacturers…
The ‘Paperless’ Ship
The cloud is for “device-agnostic young slashers,” said Trond Bjorseth, marketing manager, of Oslo-based cloud consultancy, Tieto. His company offers an information management tool for subsea projects and “repositories” for the shipping sector’s operations. With Tieto you can get “one big happy project room,” although he admits at least three suppliers offer something similar. For its own future “slashers…
Safety and Preparation on the Brownwater Radar
Weather Channel Forecasters are predicting a “near-average” hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldn’t prepare for the worst. While it is unclear whether the season, which began June 1, will bring about a few mild storms or a catastrophic Category 5 hurricane, one thing is for sure: safety and preparation are on the radars of the owners and operators of brownwater vessels.
Container-on-barge Returns to Baton Rouge
Container-on-barge services have returned to the Port of Greater Baton Rouge to provide the petrochemical industry with another option to move its products. Operated by SEACOR AMH, the service transports empty containers by barge into the Port of Greater Baton Rouge and loads them at the Inland Rivers Marine Terminal with products from nearby industries. The IRMT is located on a slack water canal off the Gulf Intracoastal Waterway in Port Allen.
Cenac Marine to Christen New Vessel, Donate Barge
A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as well as the company’s donation of a spud barge to Terrebonne Parish. The newest addition to Cenac’s growing fleet, M/V Quincey Cenac is the 24th and final vessel in its most recent series. Cenac Marine Services said a new series of vessels is in development for the near future.
This Day In Naval History: July 28
1861 - During the Civil War, the frigate, USS St. Lawrence, spots a schooner flying English colors and gave chase. Some four hours later, as she is overhauling the schooner, the fleeing vessel runs up the Confederate flag and fires three shots. Firing with her forecastle battery, St. Lawrence hits the vessel twice, once in her bow. Survivors from the sunken vessel reveal it had been the Confederate privateer, Petrel. 1926 - USS S-1 surfaces and launches a Cox-Klemin (XS 2) seaplane flown by Lt.
Enterprise to Export First Ethane Cargo from Houston Terminal in August
Enterprise Products Partners on Thursday said the first ship to load ethane for export from its new terminal on the Houston Ship Channel will arrive on Aug. 1, the…
SNMCMG2 Completes Third Black Sea Deployment
Standing NATO Mine Countermeasures Group 2 (SNMCMG2) has completed its third deployment into the Black Sea under the command of Captain Ramazan Kesgin, Turkish Navy. SNMCMG2 started its deployment on July 8 in support of NATO’s assurance measures regarding Alliance resolve and commitment to collective defense, and to enhance maritime security in the region. SNMCMG2 included the flagship TCG CEZAYIRLI GAZI HASAN PASA (Turkey) and the mine counter-measures vessels TCG EDINCIK (Turkey)…
Sanmar Building 150th Robert Allan Designed Tug
Robert Allan Ltd. and Sanmar Denizcilik A.S. have reached a milestone in their ongoing relationship: scheduled to be launched later this year, a RAstar 2800 will mark the 150th tug that Sanmar has built to a Robert Allan Ltd. design. This milestone tug is the first of six custom designed for Svitzer’s new “Silver Bullet” project. The cooperation between the two companies began in 1995, with a series of small 18m tugs designed and built for Sanmar’s own fleet.
Concordia Maritime Posts Q2 Profit
Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel employment and successful chartering, though still coming in under its Q2 2015 results largely due to an arbitration settlement and lower daily income for its vessels. The company reported a profit before tax of SEK 12.4 (44) million for the second quarter 2016…
Brown Named Bureau Veritas Communications Director
Nick Brown has been appointed Bureau Veritas’ new Communications Director, Marine & Offshore Division, the classification society announced. Brown will take up the post from November 2, 2016, replacing Philippe Boisson, who will retire after more than 25 years in the role. Brown joins Bureau Veritas from Lloyd’s Register where he has spent the last nine years, most recently as Head of Brand & External Affairs, Marine & Offshore.
China, Russia Navies to hold S. China Sea Drills
China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.
Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates
Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships on…
Bay-Houston's New Escort Tug Launched
Eastern Shipbuilding Group, Inc. has launched Laura B, the final vessel in a series of four Robert Allan, LTD. (RAL) designed Z-Tech 2400 Class terminal and escort tugs built for Bay-Houston Towing Co. The Laura B is scheduled to deliver in 2016. The launch ceremony was on July 1, 2016 at the builder’s Nelson Street facility and hosted by Patrick D’Isernia, Project Manager at Eastern, with employees and guests in attendance. Deacon Tim Warner of St. John’s Catholic Church of Panama City, Fla.