AMERICAN PETROLEUM TANKERS
Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA, held a ceremonial Keel Laying for the third product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary. Keeping with long held shipbuilding tradition, coins were placed on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock. Representatives from Philly Shipyard and Kinder Morgan were in attendance to place the coins as a sign of good fortune and safe travels. Philly Shipyard representatives included the most recent graduates of the company’s Apprentice Program. Initiated in 2004, the three-year apprenticeship program develops the next generation of Philly Shipyard employees. The recent graduation class added 15 skilled shipbuilders to the workforce, bringing the shipyard’s apprentices to 23% of its current workforce. Since the program’s inception, 21 apprentices have moved into management positions and many have obtained additional manufacturing qualifications. The shipyard expanded the program this year and has hired 50 apprentices with intent to hire another 50 apprentices in 2017. Steinar Nerbovik, Philly Shipyard’s President and CEO, remarked, “Today we celebrate our fifteen new shipbuilders and the twenty-seventh keel laid in our seventeen year history
FMC Commissioner William P. Doyle issued this morning’s opening remarks at the American Society of Transportation and Logistics (AST&L) 6th Sino - American Logistics Conference in Chicago, Il, where he addressed the use of LNG as a marine fuel. Doyle cited the United States' abundance of natural gas as a driver for the country’s marine industry to adopt LNG as an alternative fuel source. In addition
Crowley took delivery of Sunshine State, a 331,000-barrel, double-hull oil and chemical tanker, from General Dynamics NASSCO in San Diego, Calif. for American Petroleum Tankers LLC. The Sunshine State is the first vessel Crowley has taken delivery of since the company was contracted by APT to handle the shipyard construction management and the overall vessel management, crewing and operation of the company's growing fleet
MISC Bhd, the world's largest carrier of liquefied natural gas (LNG), is on the lookout for takeover targets to help it grow amid softer shipping rates, according to a report on http://www.btimes.com.my. In 2003, the firm bought American Eagle Tankers (AET), a crude oil transportation company, from Singapore's Neptune Orient Lines for $445 million. An analyst from a foreign research house said that if MISC were to buy, it will be to support AET to grow its petroleum business.
General Dynamics today reported 2014 second-quarter earnings from continuing operations of $646 million, or $1.88 per share on a diluted basis, compared to second-quarter earnings from continuing operations in 2013 of $640 million, or $1.81 per diluted share. Second-quarter 2014 revenues were $7.5 billion. There is a charge in the quarter of $105 million in discontinued operations for the sale of a business within Combat Systems
Marathon Ashland Petroleum LLC’s (MAP) Marine Transportation group has received the U.S. Coast Guard’s prestigious William M. Benkert Award for Environmental Excellence. Accepting the silver award on behalf of MAP Marine Transportation was Bruce Tilton, manager, Marine Transportation. “This is indeed an honor, and we are truly thrilled to receive this award, says Tilton. “Because this is the U.S. Coast Guard’s premier national award, recognizing marine environmental excellence
The U.S. Coast Guard is soliciting for applications for the biennial Rear Admiral William M. Benkert, Marine Environmental Protection Award for Excellence. The program recognizes corporations and businesses involved in marine facility or vessel operations that have demonstrated sustained excellence and outstanding achievement in protecting the marine environment. It also encourages innovations in operations, maintenance, cargo handling, refueling, training
Nordic American Tankers Ltd. is considering expanding its fleet by ordering new vessels or buying second-hand. The company's Board of Directors has declared a dividend of $0.16 for the fourth quarter of 2012. They are assessing expansion plans including ordering of new vessels from shipyards or buying second hand vessels at historically low prices. The level of the declared dividend should be seen in the context of a planned fleet expansion
On March 10, Aker Philadelphia Shipyard (Oslo: AKPS) launched Ship 013, the ninth product tanker in a series of 12 to be completed by 2011. The 46,000 dwt vessel was floated off of its blocks and was transferred by tug from the Building Dock to the Outfitting Dock, where it will remain for the next few weeks as it undergoes continuous testing and commissioning in preparation for its upcoming sea trials. When completed, the 600-ft long vessel, to be named the Overseas Martinez
Peter M. Lovie, P.E., vice president of business development for American Shuttle Tankers L.L.C., Houston, has been appointed to co-chair the Contributors’ Advisory Panel of The DeepStar Project, DeepStar Project Director B. John Sheets, of ChevronTexaco Exploration and Production Technology Co., has announced. ”Peter Lovie has been a tireless advocate for Floating Production, Storage and Offloading (FPSO) vessel technology in recent years and has broad experience with other systems through
Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017.
A coalition of maritime business and industry organizations sent a letter to key Members of Congress on Friday, March 24 urging funding for the Great Lakes Restoration Initiative (GLRI) to further support efforts undertaken by the State of Illinois to slow
The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The 2006 built vessel is expected to join the Company’s fleet in Q1 FY18.
For more than two years, Becker Marine Systems has been represented by a branch office in Houston. During this time, the Hamburg-based ship supplier has worked to position itself in the North American market, generating numerous orders for the company’s various product ranges.
Nordic American Offshore (NAO) has closed the follow-on offering of 40,000,000 common shares at a public offering price of $1.25 per share resulting in aggregate net proceeds of approximately $47.7 million. The proceeds could be slightly in excess of $50 million
U.S. shipbuilder General Dynamics NASSCO has delivered the third and final ship for SEA-Vista LLC as part of the builder’s larger eight-ship ECO Class tanker program. The LNG-conversion-ready Jones Act tanker Liberty was delivered on March 1
Nordic American Tankers Limited (NAT) said it has taken delivery of Nordic Space, its second Suezmax newbuilding tanker of 158,000 deadweight tons, built at Sungdong Shipbuilding & Marine Engineering Co., Ltd., South Korea. The Nordic Space has started on her maiden voyage.
A company owned by the Nordic American Tankers Limited (NAT) Chairman & CEO, Herbjorn Hansson, and his son, Alexander, has purchased 75,000 NAT shares last week, adding to the position as one of the largest shareholders of NAT.
The Japanese refining industry has been experiencing challenging circumstances for a number of years, with significant rationalisation of refining capacity, according to Weekly Tanker Market Report by Gibson Shipbrokers. Reform in the Japanese refining sector is not a particularly
Around 30 VLCC charters in Feb so far, versus 50 last month. About 40 refinery facilities to close for maintenance. Freight rates for very large crude carriers (VLCCs), which fell to multi-week lows on Thursday, could slip further as refinery maintenance in Asia weighs on cargo volumes
Nordic American Offshore (NAO) has announced an underwritten public offering of 33,333,333 common shares pursuant to the Company’s effective shelf registration statement. Morgan Stanley & Co. LLC, DNB Markets, Inc
Scorpio Tankers has reported a fourth-quarter loss of $29.7 million or a loss of 18 cents per share. The shipping company posted revenue of $106.1 million in the period, also exceeding Street forecasts. Scorpio Tankers sharply reduced its quarterly dividend by 92% to
A gas tanker from Oslo-listed shipping company BW LPG has collided with an Indian ship off the coast of Chennai in India, a BW LPG executive said on Monday. The BW Maple, with a total capacity of 82,000 cubic metres of liquefied petroleum gas
An Iranian oil tanker has called at a European port for the first time since the lifting of sanctions last January, IRNA news agency reported quoting Sirous Kianersi, managing director of the National Iranian Tankers Company (NITC).
The Board of Nordic American Tankers Limited has declared a cash dividend of $0.20 per share for the fourth quarter of 2016, to shareholders of record February 10, 2017. The dividend is expected to be paid on or about February 24, 2017. The dividend takes into account NAT's future cash outlays