Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding frequency by at least 30%. Grounding is the third most frequent accident involving ships larger than 100GT and the fourth highest contributor to marine fatalities at 12%. Offering a leasing option is crucial to give shipowners the opportunity to increase safety and limit risk immediately. Early adopters also benefit from crew having longer to become accustomed to using ECDIS, allowing them to become competent and confident without the pressure of IMO’s deadline.” Martek believes early ECDIS adoption also offers savings in time and cost over paper charts, eliminating the logistical challenge of having paper charts delivered to ships and the time required to manually update them. Furthermore, route planning using current weather and tidal data can cut transit times and save fuel. They said, shipowners who lease, rather than buy, benefit from their ships always having the most advanced ECDIS systems as the difference between a two and five year old system can be significant due to technological developments.
The surge in the shale gas industry in the U.S., as well as stepped up oil exploration in the Gulf of Mexico, is creating enormous demand for marine assets to transport fuels and supplies. To seize this growth opportunity, mid-size marine operating companies with annual revenues from $10 million to $1 billion must address several important issues. First, what is the most efficient way to finance equipment to keep up with the robust demand? Is ownership of the vessel through a loan structure
Radix Marine, Inc, a marine vessel development company specializing in homeland defense initiatives, announced today that it has entered into an agreement to acquire, through an Equipment Lease and Purchase Agreement, the GB Challenger Class Craft, the working prototype of the company's high-speed unmanned patrol watercraft. Radix Marine will own the GB Challenger outright at the conclusion of the five-year lease with Blue Ribbon Leasing and Financial, Inc
As part of the Obama Administration's Climate Action Plan to create American jobs, develop domestic clean energy sources and cut carbon pollution, the Bureau of Ocean Energy Management (BOEM) announced today that it is seeking public comment as it prepares an Environmental Assessment (EA) to analyze potential impacts from proposed wind energy research activities offshore Virginia. The Virginia Department of Mines
The U.S. Department of the Interior (DOI) released a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, moving the DOI a step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. The FSEIS updates the Bureau of Ocean Energy Management’s (BOEM) estimates of the full range of production levels from offshore oil fields that might be developed in the Chukchi Sea as well as the related potential environmental
Alphatron Marine has signed a lease contract with Seacontractors for no less than 11 vessels to provide satellite hardware and data solution packages. Alphatron Marine’s VSAT system will be installed alongside the existing IT infrastructure on nine Seacontractors B-Class workboats and two A-Class workboats, consisting of Anchor Handling Tug Supply (AHTS) and Multicats, mainly operating in Western Europe and the Middle East.
The Conferees on the Defense Authorization Bill, S.1059, for fiscal year 2000 wrapped up their conference after providing "Extended Lease" authority of 20 years or more to the Secretary of the Navy for the services of non-combatant ships, and rejecting an attempt by Senator John McCain (R-AZ) to repeal the three-year waiting period before foreign-built ships are eligible to carry preference cargo. The House Armed Services Committee has been working for three years to provide the Secretary of
In the August 9, 2002, Federal Register, the Coast Guard publishes a Supplemental Notice of Proposed Rulemaking to solicit further comment on its previous NPRM entitled, "Vessel Documentation: Lease-Financing for Vessels Engaged in the Coastwise Trade." The regulations implement a 1996 federal law codified at 46 U.S.C. 12106(e), which was designed to enlarge vessel financing sources by allowing lease financing to be offered by companies which are less than 75% U.S.-owned
The Northern Territory (NT) Government in Australia announced the successful bidder for the Port of Darwin – Landbridge Group, based in the People’s Republic of China. Chinese privately owned energy and infrastructure conglomerate Landbridge Group has won a $A506 million bid to run Australia's Port of Darwin for 99 years, NT's Chief Minister Adam Giles announced. Under the terms of the agreement
Marine News and Maritime Logistics Professional editor Joseph Keefe last week spent 10 minutes with Oregon Public Broadcasting to discuss the fate and the future of Oregon's only deep water port. Listen in to find out more. As ICTSI Oregon, Inc. and the Port of Portland mutually agreed to terminate a 25-year lease agreement to operate the container facility at the Port’s Terminal 6, the agreement allows ICTSI Oregon to be relieved of its long-term lease obligations effective
National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement on DOI’s proposal to repeal recent amendments to the Federal Royalty Valuation Rule: “NOIA supports repeal of Interior’s 2017 Royalty Valuation Rule
The Energy Independence and Security Act of 2007 (the 2007 Act) authorized a Short Sea Transportation (SST) Program. As passed by the House, the legislation would have authorized $2 billion for the Maritime Administration (MARAD) Title XI Program and have extended the Capital Construction Fund
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), announced that the Trust has agreed to employ the 115,000 DWT Aframax crude oil tanker FSL Hong Kong, post dry docking, in the Teekay Group Revenue Sharing Agreement (RSA).
In the scorching heat of the Caribbean Sea, workers in scuba suits scrub crude oil by hand from the hull of the Caspian Galaxy, a tanker so filthy it can't set sail in international waters. The vessel is among many that are constantly contaminated at two major export terminals where they
ICTSI Oregon, Inc. and the Port of Portland have mutually agreed to terminate a 25-year lease agreement to operate the container facility at the Port’s Terminal 6. The agreement allows ICTSI Oregon to be relieved of its long-term lease obligations effective March 31, 2017
Kalmar, part of Cargotec, has delivered nine Kalmar Gloria reachstackers to the Italian ro-ro and container shipping line Messina Group. The order includes a Kalmar Complete Care maintenance contract, which brings several advantages, such as financial predictability
The newly built wind farm service vessel Windea Leibniz was delivered from Ulstein Verft to Bernhard Schulte Offshore and ICBC Leasing on February 28, and named March 2 at a ceremony in Ulsteinvik, Norway. Beginning in April, the vessel will work at the Sandbank wind farm in the German
MarineNews and Maritime Logistics Professional Editor Joseph Keefe on Thursday spent ten minutes with Oregon Public Broadcasting to discuss the fate and the future of Oregon's only deep water port. Listen in to find out more. As ICTSI Oregon, Inc
UK-based containership owner Global Ship Lease (GSL) has reported a fourth-quarter loss of $54.3 million, after reporting a profit in the same period a year earlier. It posted revenue of $41.4 million in the period. Operating revenues for the year ended December 31, 2016 were $166
Crowley Maritime Corp. and Eagle LNG Partners have started to build a new shore-side liquefied natural gas (LNG) facility on Crowley-leased property at JAXPORT’s Talleyrand Marine Terminal in Jacksonville, Fla. The new LNG bunkering facility will serve Crowley’s Commitment Class
Hyundai Merchant Marine (HMM) has inked a memorandum of understanding (MoU) with state-backed Korea Shipping Company (KSC) for vessel sales worth up to Won850bn ($739.4m) book value, which will strengthen HMM's financial position.
BOEM has received unsolicited lease requests from two companies seeking to develop offshore wind energy on the Outer Continental Shelf (OCS). These requests are for areas located offshore New York and Massachusetts and are not in response to a formal call for interest.
The new Nautican Research and Development manufacturing and integration facility in Summerside, Prince Edward Island, opened in December 2016 with the support of Babcock Canada and the provincial government. The first shipment, a set of rudders
Crowley Maritime Corp.’s newest combination container/Roll on-Roll off (ConRo) ship has been launched at the VT Halter Marine shipyard in Pascagoula, Miss. for the Crowley’s service between Jacksonville, Fla., and San Juan, Puerto Rico.
Oil company Royal Dutch Shell has signed a three-year contract to lease storage tanks at a large terminal in Panama that had been used by U.S. refining company Tesoro Corp, sources involved in the deal told Reuters. The facility, designed for storage and transshipment of crude oil to tankers