Farstad Shipping Awarded Charter Contracts
AHTS Far Sound (2007, UT 712L, 16.000 BHP), AHTS Far Sword (2006, UT 712L, 16.000 BHP) and AHTS Far Scimitar (2008, UT 712L, 16.000 BHP) have been contracted by Hess to support their drilling program in Australia for at least 10 months commencing in May. In the North Sea PSV Far Service (1995, UT 745, 4.680 DWT) has been awarded a 24 months firm contract by BP commencing in July with 2x6 month options.
Hornbeck Offshore Announces Q1 2011 Results
Hornbeck Offshore Services, Inc. (NYSE:HOS) announced today results for the first quarter ended March 31, 2011. First quarter 2011 revenues decreased 16.1% to $72.3 million compared to $86.2 million for the first quarter of 2010 and decreased 25.7% compared to $97.3 million for the fourth quarter of 2010. Operating income was $0.7 million, or 1.0% of revenues, for the first quarter of 2011 compared to $15.7 million…
Essar Shipping Ports and Logistics: New Management Structure
Mumbai: Essar Shipping Ports & Logistics Limited (ESPLL) which is a part of Essar Group today held its Committee of Directors (Demerger Committee) meeting and announced the completion of the demerger process. The committee fixed 19th May 2011 as the record date. ESPLL announced that the company has received all the approvals hence the completion of the process. The company also announced the new management structure for the two companies once they are listed on exchange.
Fairmount Tugs Deliver FPSO Pazflor
A specialized team lead by Fairmount Marine has completed successfully the tow, mooring and positioning hook-up of the floating production storage and offloading unit (FPSO) Pazflor offshore Angola. Earlier Fairmount’s powerful tugs Fairmount Expedition, Fairmount Glacier and Fairmount Alpine have towed FPSO Pazflor from Korea to Angola. After arrival offshore Angola the 30 man team of Fairmount Marine connected the FPSO Pazflor to its moorings…
This Day in U.S. Naval History - May 11
1862 - CSS Virginia blown up by Confederates to prevent capture. 1898 - Sailors and Marines from USS Marblehead cut trans-oceanic cable near Cienfuegos, Cuba, isolating Cuba from Spain.
This Day in U.S. Coast Guard History - May 11
1898-USRC Hudson towed the crippled USS Winslow from certain destruction under the Spanish forts at Cardenas, Cuba during the Spanish-American War. Congress later…
Register Before Transiting High Risk Area
The Singapore Maritime and Port Authority (MPA) issued a circular advising masters of ships transiting or operating in the High Risk Area for piracy attacks in the…
EU NAVFOR Assists Italian Ship After Pirate Attack
On the 5 May, the EU NAVFOR warship ITS Espero assisted the Italian Merchant Vessel ITAL Glamour after it was attacked by pirates on the previous day. The attack…
National Maritime Day Dinner, AMVER Awards
On May 23rd at the National Press Club in Washington DC, the North American Marine Environment Protection Association (NAMEPA) and IHS Fairplay will be hosting…
Italian Guardia di Finanza select Raymarine
Nine new vessels designed by race boat driver and designer Fabio Buzzi and fully equipped with Raymarine electronics, have been delivered to the Guardia di Finanza, the militarized customs and border patrol service responsible for preventing financial crime and smuggling in Italy. The nine boats were officially handed over to the Guardia di Finanza at a ceremony attended by the Italian Minister of the Interior Roberto Maroni.
Offshore Solutions Celebrates 2500 Safe Connections
Offshore Solutions B.V. (OSBV), the joint venture between AMEC and Cofely Nederland N.V., has announced another significant achievement in the operation of the Offshore Access System (OAS*). Installed on the GDF SUEZ E&P Nederland B.V. (GSEPN) chartered vessel, REM Mermaid, the OAS has successfully achieved 2,500 operational connections. This is the third operational OAS in the Southern North Sea and during its operational life so far has also facilitated the safe transfer of 22…
Stena Line Celebrates National Ferry Fortnight
Stena Line, the leading ferry operator, has announced it will be offering 15 per cent off bookings made between 14 and 28 May 2011, for travel completed by 8 January 2012 to mark the Passenger Shipping Association's third annual National Ferry Fortnight. The offer is valid for all vehicle types, "dutchflyer" (rail and sail) and foot passenger bookings, as well as all elements of booking from cabins to pre-booked meals and Stena Plus lounge access.
General Maritime Corporation Announces Q1 2011 Results
General Maritime Corporation (NYSE: GMR) today reported its financial results for the three months ended March 31, 2011. Excluding the $3.3 million non-cash loss relating to the disposal of vessels and vessel equipment as well as the $1.8 million impairment of goodwill and $0.1 million other income, the Company recorded a net loss of $26.5 million or $0.31 basic and $0.31 diluted loss per share for the three months ended March 31…
Tsakos Energy Navigation Reports Earnings Of $0.20 Per Share
Athens, Greece--May 11, 2011--Tsakos Energy Navigation Limited (TEN) (NYSE: TNP) (the “Company”) today reported results (unaudited) for the first quarter ended March 31, 2011. TEN attained net income of $9.3 million (including a $5.8 million gain on the sale of a vessel) for the first quarter of 2011 compared to $19.5 million (including $14.3 million gains on the sale of vessels) for the first quarter of 2010. Diluted EPS this first quarter were $0.20.
Maersk Line Interim Management Statement
Revenue for the period increased by 10% to USD 14.5bn (USD 13.2bn), primarily due to higher container freight rates, container volumes and oil prices. The profit for the period increased by 82% to USD 1.2bn (USD 0.6bn) and was driven by better operational performance in most business units. The Group’s ROIC increased to 11.7% (7.6%). "We have had a good start to the year and are very satisfied with the results.
Vacon Inaugurates New Factory In China
The global AC drives manufacturer Vacon inaugurated their new factory in Suzhou on 11 May 2011. Present at the inauguration ceremony were Consul General of Finland in Shanghai Mr Matti Heimonen…
Huntington Ingalls Industries Reports Q1 Results
NEWPORT NEWS, Va., May 11, 2011 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries, Inc. (NYSE:HII) reported first quarter 2011 sales of $1.68 billion, down 1.6 percent from the same period last year, and operating margin of 5.0 percent, essentially flat year over year. First quarter earnings per share was $0.92, up from $0.85 in 2010. New business awards for the 2011 first quarter totaled $1.7 billion, bringing total backlog to $17.4 billion as of March 31, 2011.
Wilhelmsen Watching Cruise and Energy Markets
“While the shape of the shipping industry in North America is fairly stable, we are expecting more global demand for our services from our cruise and offshore customers,” comments Philip Bannerman, Sales Director for Wilhelmsen Ships Service in the Americas. Bannerman, who is based at the company’s Houston, Texas office, also believes that Mexico has more potential for development. Commenting on the overall health of the ships agency business in North America…
Keppel Wins Twin Jackup Rig Order
Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million. These latest contracts follow closely after Keppel FELS was awarded a newbuild jackup rig contract by one of GDI's Shareholders, Japan Drilling Company, in March this year.
MOL On Time Arrival Performance Results
ROTTERDAM, 11 May 2011 – MOL today updated On Time Arrival Performance results for January - March 2011 for the major East-West trade lanes for quarterly report as an effort of upgrading and improving the quality of services MOL Liner offers. Scope of trade lanes is Asia-U.S. West Coast, Asia – U.S. East Coast, Transatlantic, and Asia – Europe. When a vessel arrives in the first port of destination area for both directions…
