Diamond Offshore Sees Recovery when Oil 'Well over $60'
Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling. The company's shares reversed course and were down 2.3 percent at $16.67, with investors shrugging off a beat on quarterly profit and revenue. Global benchmark Brent crude prices have stabilized after a more than two-year slump, with prices hovering around $55 per barrel.
Global Names Coppes Director of Salvage & Wreck Removal
Bas Coppes has joined the senior management team at Global Diving & Salvage, Inc., aiming to guide the global growth of the marine services company. Coppes will be based out of Global’s Houston office and will focus on salvage and wreck removal operations worldwide. Coppes brings two decades of salvage and offshore experience to the organization, having managed an extensive number of salvage, wreck removal, and offshore projects across the globe.
GTT Receives Order to Equip FSRU
GTT said it has received an order from Samsung Heavy Industries (SHI) to equip a floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system.
Panama Canal Sets Monthly Tonnage Record
In January 2017, the Panama Canal set a new monthly tonnage record of 36.1 million Panama Canal tons (PC/UMS), with the transit of 1,260 ships through both the Expanded and original locks. The previous record was established the month prior, in December 2016, when 1,166 ships transited the waterway for a total of 35.4 million PC/UMS. “This increase reiterates the importance of the Expanded Canal, and…
Ferry Tales: Having a Ferry Good Time
Despite of some of the lowest fuel prices experienced in the last eight years, demand for ferry construction is at a seemingly all time high. The focus on building new ferries kicked off in early 2013 and the sustained interest is the continued result of an unleashing of pent up demand. Fleets have been aging and infrastructure needs to be built up in order to accommodate the future demand for commuter ferry travel once fuel prices return to and surpass their once familiar norms.
Oil Spill in Fore River, Maine
The U.S. Coast Guard said it is responding to an oil spill in the Fore River in Maine along with Maine Department of Environmental Protection and local fire departments.
SAFE Boats Names Willis VP of Program Management
SAFE Boats International has promoted Janice Willis to the position of Vice President Program Management. Willis joined SAFE Boats in December 2010 as a member of the Business Development team, and in 2014 became the Director of Program Management, leading the teams responsible for managing SBI’s fed-eral government program business in Bremerton including the USCG CB-OTH and USCBP CIV Programs. Willis has over 25 years’ experience in program management and contract administration.
Last Port of Call for the US Merchant Marine?
The privately owned U.S.-flag foreign trading fleet, which is an essential component of U.S. sealift capability, stands on the edge of a precipice. The fleet – roughly stable in terms of cargo carrying capacity from 2000 to 2012 – has declined from 106 vessels in 2012 to 78 vessels at October 30, 2016 primarily because of a substantial decline in available U.S. Government-reserved cargo. The size of…
A Time to Build & Refit
The aging Pacific Northwest fishing fleet is either undergoing or about to undergo a long-overdo upgrade, judging by a major economic report commissioned by the Port of Seattle. Fisheries managers, seafood suppliers, yards and the supply chain all hope an accompanying surge in ship finance “lifts all boats”. For now, the newbuild count is growing apace, slowed just a bit by owners opting for major retrofits amid rich fish harvests.
Glosten Promotes FitzGerald to Principal
Seattle-based naval architecture and marine engineering consultancy Glosten has promoted Ken FitzGerald to Principal. FitzGerald is a graduate of Louisiana State University (BS, Petroleum Engineering, 1992), and joined Glosten in 2003 after 13 years working in commercial oceanography. While at Glosten, he has supported the firm’s work in mooring design, geophysical surveys, research vessels, logistics planning, and has managed risk assessment workgroups.
SC Ports Reports All-time Record Container Volume
South Carolina Ports Authority (SCPA) announced an all-time record container volume of nearly 105,000 pier containers and 185,018 twenty-foot equivalent units (TEUs) handled in January. As measured in pier containers, or total box volume, SCPA handled 104, 792 boxes last month, surpassing the previous record of 104, 003 containers handled in May 2015. Container volume is up 28 percent compared to the same month last year.
Leco’s New Aquaculture Vessel Launched
Southampton Marine Services said it has launched its latest vessel, a new aquaculture service vessel for Leco Marine, at its Ocean Quay shipyard in Southampton. Designed by Argyll Maritime Design Services, the 23-meter vessel, Alyssa, is an aquaculture service vessel built for Scottish commercial diving and marine services company Leco Marine to perform general fish farm work. It is equipped with a net-cleaning and inspection system for the maintenance of fish-farm nets.
Video: Retired Ship Sunk to Form Artificial Reef
Sinking a 6,000-ton, 371-foot former cargo vessel to help create an artificial reef in the Gulf of Mexico is a herculean feat, one only accomplished with strict adherence to rigorous federal and state environmental regulations. When the cargo ship Kraken was recently sunk 67 miles off the Galveston coast, Matrix New World Engineering helped the Texas Parks & Wildlife Department Artificial Reef Program ensure that the vessel was free of environmental hazards and safe to support coral…
UK, Continental Ferries Carried 8.8 mln Cars in 2016
The number of cars taken by ferry has increased from 8.6 million in 2015 to nearly 8.8 million in 2016, a 1.7% increase. This is the fourth successive year of growth according to the annual results of the ferry industry. 2016 Ferrystat figures released today by Discover Ferries, the industry body for ferry operators, reports that growth for car travel by sea is up by 473,000 in the past four years; up from just 8.3 million car crossings by sea in 2012.
Indian Navy Officers Assess TROPEX 2017
Admiral Sunil Lanba, Chief of the Naval Staff (CNS) embarked ships of the Indian Fleet (both Western & Eastern) over the last two days to review the ongoing Annual Theatre Level Readiness and Operational Exercise (TROPEX) 2017 which is presently underway since 24 January 2017. The CNS was accompanied by General Bipin Rawat, Chief of the Army Staff and Vice Admiral Girish Luthra, Flag Officer Commanding-in-Chief, Western Naval Command. The CNS witnessed a host of exercises viz.
Scorpio Bulkers Narrows Loss
Scorpio Bulkers has its loss narrowed to $124.8 million, or $2.22 per share for the year ended December 31, 2016, compared with a net loss of $510.7 million seen in the same period a year earlier. However, it reported a loss of $20.6 million in its fourth quarter of 2016 ended December 31, compared with a net loss of $302 million seen in the same period a year earlier. In Q4 on a per-share basis, the company said it had a loss of 29 cents.
China Overview: Gas Expansion to Secure Sustainable Growth
New research by DNV GL, the technical advisor to the oil and gas industry, reveals that confidence in oil and gas sector growth in China in 2017 has fallen sharply from 61% last year to 23% - lower than global opinion (32%). Chinese respondents are also less confident about their organization’s prospects, profits and revenue. However, the research also shows that Chinese companies are rebalancing business…
Togo Accedes to Treaties Covering Unlawful Acts at Sea and Anti-fouling
Togo has acceded to two International Maritime Organization (IMO) treaties dealing with unlawful acts against the safety of maritime navigation, and the control of harmful anti-fouling systems on ships. The SUA Protocol covers acts including the seizure of ships by force, acts of violence against persons on board ships, and the placing of devices on board a ship which are likely to destroy or damage it.
Australian Energy Firms to Rebalance their Portfolios: DNV GL
New research by DNV GL, the technical advisor to the oil and gas industry, shows oil and gas companies in Australia are seeking to rebalance their business portfolios and reorganize for a new era. In a period of drawn-out recovery, 45% of senior oil and gas professionals surveyed expect their business to diversify into, or invest more in, opportunities outside of oil and gas. Still, 85% believe gas will become an increasingly important component of the global energy mix over the next 10 years.
Indian Ports Cargo Volumes Up after Demonetisation
The cargo handled by 12 major Indian ports in November and December (Post demonetisation period)has witnessed a significant growth by registering an increase of 11.2 per cent and 12.7 per cent, respectively, reports PTI. The Minister of State for Shipping Mansukh L. Mandavia told the Parliament that cargo handled by major ports after demonetisation has shown a growth in comparison to the same period last year.