Otto Marine Send Two AHTS to GoM, One to W. Africa
Offshore marine services firm Otto Marine informs it has obained a total of US$24.9 million in charter contracts for three offshore vessels – Redfish 4, Go Canopus and Go Altair. Details as follows: Redfish 4, an 8,000bhp Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic positioning 2 capabilities will be deployed for work on long term charter in Mexico. Go Canopus, a 10,800bhp AHTS vessel built in 2009 with DP2 technology has been contracted on long term charter, also for work in the Gulf of Mexico. Go Altair, a 5,150bhp AHTS with dynamic positioning 1 capabilities, has been cotracted for a short term towage project from Singapore to West Africa, and will then be strategically located to the West African market. About the Company Headquartered in Singapore, Otto Marine Limited is an offshore marine group which owns and operates a large fleet of offshore support vessels and is engaged in specialized shipbuilding of offshore vessels for primarily Deep Sea applications. The shipbuilding includes ship repair and conversion.
H.I.G. Capital Completes Acquisition of PetroCom
PetroCom LLC announced that an affiliate of H.I.G. Capital, a Miami-based private investment firm, has completed the previously announced acquisition of PetroCom. Headquartered in New Orleans, PetroCom is a leading cellular carrier in the Gulf of Mexico and a full-service telecommunications solutions provider for the offshore industry. Last year H.I.G., through its Bayside Capital affiliate, acquired Sola Communications
Drilling Successes and Cost Reductions Offset Production Decline
Unocal Corporation's Spirit Energy 76 unit said its exploration drilling successes and aggressive development program on the Gulf of Mexico shelf area in the first half of 1999 should more than offset the natural production declines for the year. "We have a long record of low drilling and operating costs on the shelf, which enables us to enjoy returns that cannot be matched by the typical shelf operator," said Roger C. Beach, Unocal chairman and CEO.
PetroCom, LLC To Be Acquired by H.I.G. Capital Affiliate
PetroCom LLC has entered into a binding agreement to be acquired by an affiliate of H.I.G. Capital, a Miami-based private investment firm. Headquartered in New Orleans, LA, PetroCom is a leading cellular carrier in the Gulf of Mexico and a full-service telecommunications solutions provider for the offshore industry. PetroCom President Ken Wright commented, "We are thrilled to partner with a premier private equity firm as we enter our next stage of growth. H.I.G
Coast Guard Investigating Collision
Crewmembers of Coast Guard Marine Safety Office Houston-Galveston are investigating the collision between the freight ship Napoleon and a tugboat with four barges in the Houston Ship Channel Monday night. A Coast Guard watchstander at Vessel Traffic Service Houston received the report of the collision via the pilot aboard the Napolean at approximately 10:40 p.m. According to the report the collision occurred while the Napolean attempted to over take the tug Jonathan Thomas
$5.6M Granted for US Fisheries Research
Research projects in New England and the Mid-Atlantic are expected to receive nearly $5.6 million in federal funding, according to an announcement made today by NOAA Fisheries. Under the Saltonstall-Kennedy Grant Program, which is administered by NOAA Fisheries, funding will be made available to provide financial assistance for research and development projects that benefit the U.S. fishing industry. Of these funds, $2.3 million would support projects to benefit the groundfish industry
Houston Ship Channel Project Complete
HOUSTON -- The Port of Houston Authority (PHA) last Thursday welcomed congressional leaders, the U.S. Army Corps of Engineers (USACE), and more than 300 other invited guests to celebrate the completion of the widening and deepening project expected to further fuel the port's remarkable growth. "This project has benefited from a great home-team," said PHA Chairman Jim Edmonds. "The support of our partners in Congress and the
Hope Shipyard Delivers M/V Redfish
Higman Marine Services of Houston, Texas, took delivery of its newest vessel, the M/V Red Fish. The vessel was built in five months by Hope Shipyard, located in Dulac, La. The pushboat is slightly larger than previous vessels built for Higman, measuring 78 ft by 32 ft with a 10 ft depth. The M/V Red Fish headed out from Hope’s fabrication yard on the Houma Navigational Waterway after a quick delivery to meet up with her first tow