Noble Reports 2013 Results
Noble Corporation has reported fourth quarter 2013 net income of $174 million, or $0.68 per diluted share. Results for the fourth quarter included an after tax charge of $36 million, or $0.14 per diluted share, relating to an impairment taken on the FPSO Seillean. Excluding the impairment charge, net income for the fourth quarter would have totaled $210 million, or $0.82 per diluted share. For the third quarter of 2013…
Vulkan RATO for Submarine Test Rig
For decades, Vulkan has been a supplier of couplings, not only for Brazilian offshore industry, but also for military applications. Here business mainly focused on conventional drives such as diesel-electric systems for military ships and submarines. Now Vulkan is positioning itself on the Brazilian market as a system solution provider for nuclear propulsion and supply the Centro Experimental Aramar in Iperó with a RATO S 731T and 14 elastic mounts.
Container, Cruise Records at Marseilles Fos amid Oil Slump
Total 2013 throughput at Marseilles Fos confirmed containers, steel industry bulks, LNG and cruise traffic as the growth drivers at the French port. In contrast, a mounting decline in crude oil and petroleum volumes pegged overall cargo to 80 million metric tons for the year, down 7% on 2012. Oil and gas still accounts for more than half the cargo handled at one of the world’s biggest oil ports, but volumes have been eroded by the restructuring of Europe’s refinery industry.
ISS Opens Nigeria Office
Inchcape Shipping Services (ISS) said it has strengthened its presence in the Niger Delta with the opening of an office on Bonny Island, Rivers State, Nigeria. The office…
CMA CGM Launches New Feeder Line
The CMA CGM Group is expanding its service opportunities in Southern Africa with the launch of the new Rhino Express feeder. The Rhino Express reinforces the Group’s service to Mozambique through an extended coverage of five ports in Mozambique, including two new ports: Quelimane and Pemba, the development of cabotage in Mozambique, a better transit time from India, Middle East, Europe and South America East Coast to Maputo and Beira, and direct connection between Mozambique and Durban.
IMO Tackles Shipping in Polar Waters
Development of an international code of safety for ships operating in polar waters (Polar Code), IMO is developing a draft mandatory International Code of safety for ships operating in polar waters (Polar Code). The work is being coordinated by the Sub-Committee on Ship Desgin and Construction (SDC) - formerly the Sub-Committee on Ship Design and Equipment (DE). During 2013, the DE sub-Committee made significant progress in further developing the draft Polar Code…
Sinking Pacific Cargo Ship Crew Transferred to CG Cutter
Survivors of the sinking cargo ship 'Rich Forest' have been transferred safely from the AMVER rescuing ship 'C.S. Sunshine' to Coast Guard Cutter 'Sequoia'. The 500-foot cargo ship Rich Forest was abandoned by its 24 crew-members after the engine room flooded and were picked up from their liferaft by the AMVER participating vessel, C.S Sunshine. The US Coast Guard report that the C.S. Sunshine has now been released from the case and will continue its voyage to Japan.
China Arbitration Court Orders Korea's STX to Pay Debt
Troubled South Korea shipbuilder STX Heavy Industries Co. issued a guarantee on a loan defaulted on by its Chinese heavy machinery manufacturer, STX Dalian Heavy Industries Co., from China's Bank of Communications and has been ordered to repay the loan, reports Yonhap. Unlisted STX Dalian Heavy Industries is a wholly owned subsidiary of STX Heavy Industries and has been ordered to repay the 60.9 billion…
US Secretary of Interior Honors BOEM Ocean Research Teams
Secretary of the Interior Sally Jewell has presented the 'Partners in Conservation Awards' to two science teams conducting ocean research sponsored by the Bureau of Ocean Energy Management (BOEM) at a Department of the Interior ceremony. The research involved collaboration with about two-dozen federal, academic and private sector partners over the past four years through the bureau’s Environmental Studies Program…
Court Delivers Blow to Alaskan Arctic Oil Prospectors
A three-judge panel of the U.S. Ninth Circuit Court of Appeals has issued a ruling against the Department of Interior and oil companies including Shell in favor of environmental and Alaska Native groups and concluded the federal government failed to properly evaluate the scale of oil production that could result from offshore lease sales in 2008, reports Anchorage Daily News. According to groups cited…
Ship Operating Costs 2013 Held Steady Despite the Odds ...
Judging by the findings of Drewry Maritime Research’s latest 'Ship Operating Costs Annual Review and Forecast' , ship operators were able to keep increases in operating costs in 2013 quite low – with increases in total costs typically ranging between 1.0-2.5% depending on the sector in question – despite 2013 being another difficult year for most. Commenting on the latest findings Nigel Gardiner, Managing Director…
Delaware River Dredge Contract for GLDD
Great Lakes Dredge and Dock (GLDD) LLC, Oak Brook, Ill., has been awarded a contract by the US Army Corps of Engineers for deepening the Delaware River main channel. The Department of Defense adds that Fiscal 2014 operations and maintenance (Army) funds in the amount of $14,177,652 were obligated at the time of the award. Estimated completion date is Nov. 30, 2014. Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S.
Great Lakes Icebreaking: Important Safety Message
Canadian Coast Guard and/or United States Coast Guard will be conducting icebreaking operations as they escort the laker MV Algomarine from Lake Michigan into Lake Huron, including Georgian Bay, where it will travel to Owen Sound for a winter lay-up. Operations for these areas are expected to take place on January 25 and 26, 2014. However, dates and routes are subject to change with little or no notice due to weather, ice conditions, shipping schedules or other unexpected situations.
Port Competition & Commercial Risk Assessment: BMT Launch New Tools
BMT Asia Pacific (BMT) have launched Port Choice Model and Port 360° to evaluate the competitive advantage of a given port within its environment. BMT explain that they developed the tools following years of academic research and professional consultancy assisting governments and stakeholders. The tools uniquely apply both quantitative and qualitative methodology and measure a spectrum of criteria, defined by leading economists and technical port experts.
Crude Oil Carriers DHT Report Favourable Wind in Q4 2013
Oslo, Norway-based DHT Holdings, Inc. reports fourth quarter 2013 results and the acquisition of two VLCCs. EBITDA for the quarter of $18.9 million and net income for the quarter of $11.5 million ($0.48 per share) including $15.4 million in revenue related final settlement of sale of OSG claim. The Company will pay a dividend of $0.02 per common share for the quarter payable on February 13, 2014 for shareholders of record as of February 6, 2014.
Vigor to Build Three Tugboats for Tidewater
Vigor Fab has been awarded a contract by Tidewater Barge Lines of Vancouver, Wash, to construct 3 new tugboats. Construction of the first tug will start on Jan. 24, 2014, with the keel laying (the formal recognition of the start of a ship’s construction) at Vigor’s facility in Portland. Vigor explain that while Tidewater has rebuilt and repowered several of the vessels in its fleet, these tugs will be the first newly built vessels for the company in nearly 30 years.
Bridge Damage Stops Barge Traffic on Ark. River
The Associated Press reported that barge traffic has ceased on the Arkansas River after damage was discovered on a bridge in western Arkansas. Officials say bridge…
Hapag-Lloyd, CSAV Advance Merger Negotiations
Talks between German containership company Hapag-Lloyd and Chilean fellow shipping company Cia. Sud Americana de Vapores SA (CSAV) about combining the container liner shipping activities are entering the next phase, Hapag-Lloyd said in a press release today. Both companies have signed a nonbinding Memorandum of Understanding (MoU). As the next step, the due diligence will take place, after which a binding contract could follow, Hapag-Lloyd said.
UK Secretary of State Visits UKMCC
The Rt Hon Philip Hammond MP called on the UKMCC headquarters in order to meet personnel and receive briefings on the U.K.’s naval mission in the Gulf. He was accompanied throughout by Lieutenant General Simon Mayall CB, Defense Senior Advisor Middle East. Commenting on his visit, Hammond said, "The Royal Navy's continued presence in the Gulf is essential to ensuring maritime security and to protect freedom of navigation in this important region.
Coast Guard Assists Grounded Cargo Ship
The Philippine Coast Guard said its personnel in Cebu rendered assistance to a cargo vessel that ran aground at the vicinity waters of Madridejos, Bantayan Island last Sunday, January 19.
