Offshore Stocks Flying High As Boom Nears
It appears that the long awaited, much antipated and greatly debated offshore boom part II is prepared to launch again, as offshore drilling stocks surged on Thursday as U.S. crude oil prices hit a fresh nine-year high of $32.15 a barrel, fueling a second day of strong gains on Wall Street for the oilfield services sector. Drilling stocks across the board were flying high, some posting high single and low double digit gains for the day. At mid-day R&B Falcon Corp. was 1-1/2 higher at 18-1/8 and Santa Fe International Corp. was up 3 at 32-15/16 -- gains of roughly 9 and 10 percent respectively. It was the second straight day of substantial gains for oilfield services stocks, though in a reversal of Wednesday's pattern, drilling contractors saw their stock rise more sharply than that of diversified service providers. Analysts say the sector is poised to reap the benefits this year and next of the strengthening of international oil prices which has been under way since March 1999, and a report from Salomon Smith Barney predicts that this is just the beginning of a multi-year growth phase. The analyst increased his share price targets for 11 offshore drilling contractors and said he saw average upside potential for their stocks of 70 percent in the next 12-18 months. Top recommendations in the sector include Global Marine Inc., Noble Drilling Corp. and Transocean Sedco Forex Inc.
Integrated Systems Awarded Navy Contract
Integrated Systems Solutions Inc.* Pomfret, Md., is being awarded a $64,073,299 ceiling-priced cost-plus-fixed-fee, indefinite delivery, indefinite quantity contract for research and development services to increase the government’s understanding of Lighter Than Air platforms and their usage for sensor technologies. Services to be provided include experimenting with outfitting commercial blimps with sensors and a tactical data link
Minoan Shares Performance Rated
Schroders Securities said in a research report that it rates shares of Greek shipping company Minoan Lines perform in line with the market, although anticipated industry activity may drive the shares to new highs. Analysts said shares were fairly valued on current fundamentals. On the issue of market consolidation, Schroders expects Minoan to continue its prudent acquisitions and not rush into consolidation The merger of Attica Enterprises and Strintzis Shipping Lines could have a direct
Big E Underway to Conduct Carrier Qualifications
The nuclear-powered aircraft carrier USS Enterprise (CVN 65) transit the Philippine Sea during a Vertical Replenishment (VERTREP) with the Military Sealift Command (MSC) combat stores ship USNS San Jose (T-AFS 7). Enterprise and embarked Carrier Air Wing One (CVW-1) are currently underway on a scheduled six-month deployment in support of the global war on terrorism. U.S. Navy photo by Mass Communication Specialist Seaman Rob Gaston
Portuguese Flag Reports Strongest Growth Rate in Europe
Portugal’s second shipping register, the International Shipping Register of Madeira (MAR), is currently the strongest-growing flag in Europe. In the last six months, MAR’s fleet has increased by more than 60 new vessels representing net growth of 130% in terms of tonnage. Among the new entrants to the register are vessels owned by more than 20 of Germany’s leading companies. The growth has been achieved since Sociedade de Desenvolvimento da Madeira (SDM)
Paris MoU Reports Decrease in 'Bans'
Paris MoU reports that 2015 shows a large decrease in the refusal of access (“bans”) within the region: 11 bans compared to 20 in 2014. The detention percentage has remained stable at 3.33 percent. The number of deficiencies has decreased 10 percent related to 2014. The number of inspections carried out was 17,858, slightly less than 2014 (18,430). Over a three-year period of time, most cases of refusal of access involve ships which have been banned for multiple detentions (45)
SeaJets Take Off For Grand Bahama Island
SeaJets, the Palm Beach-based Jetfoil will leave the Port of Palm Beach on November 6, inaugurated regular service of the jets into Grand Bahama Island. SeaJet Kara will depart from the Port Thursday through Monday at 9 a.m. and 4:30 p.m. with scheduled arrivals on Grand Bahama Island at 11 a.m. and 6:30 p.m., respectively. Departures from the Island will be at 11:30 a.m. and 6:50 p.m., arriving in Palm Beach at 1:30 p.m. and 8:30 p.m., respectively.
Motia Continues Product Tanker Expansion
Motia Compagnia di Navigazione has continued its expansion of modern product carrier tonnage with the delivery of the 29,000 dwt Elisa from STX Shipbuilding, Korea. The third of a series of four sister ships from the same yard building for Motia, the Elisa is an IMO II Product/Chemical Carrier and it will enter employment in the Handytankers Pool. Antonio Zacchello, managing director of Motia Compagnia di Navigazione,
HMAS Launceston Assists Ill Mariner
HMAS Launceston assisted in the medical evacuation of a critically ill Chinese mariner from a Chinese fishing vessel, 80 nautical miles south-east of Christmas Island in the Indian Ocean on the afternoon of 1 January, 2015. The request for Launceston’s assistance came from the Australian Maritime Safety Authority, and the patrol boat embarked a civilian medical officer prior to departing.
Carter: US Will Sail Wherever International Law Allows
In a clear rebuff to China, U.S. Defense Secretary Ash Carter said on Tuesday that the United States military would sail and fly wherever international law allowed, including the South China Sea. "Make no mistake, the United States will fly, sail and operate wherever international law allows, as we do around the world, and the South China Sea will not be an exception," Carter told a news conference after ministerial talks with U.S. ally Australia in Boston.
CMA CGM Adds 4 Vessels Under French Flag
CMA CGM has announced four additional ships under the French flag. The first among these will be a 20,600 TEU containership which will be named as CMA CGM Antoine de Saint Exupery. The other three vessels under French flag will be 22,000 TEU ships powered by liquefied natural gas (LNG). CMA CGM Antoine Saint Exupéry, with expected delivery in in early 2018, is to pay homage to the pioneer of Aeropostale, the writer and the poet
Last Saltie of 2017 to Depart Port of Duluth-Superior
The last oceangoing vessel of the year is scheduled to leave the Port of Duluth-Superior, signaling the beginning of the end of the 2017 commercial shipping season in the Twin Ports and across the Great Lakes-St. Lawrence Seaway system. Weather permitting, the Beatrix is set to finish loading 12,000 metric tons of spring wheat tonight at the CHS elevator in Superior—grain bound for the United Kingdom. The 512-foot Wagenborg vessel flies the flag of the Netherlands
MOL Wins 'Cruise of the Year' Award
Mitsui O.S.K. Lines (MOL) announced that its "Tonde (fly and) cruise to Kyushu, - Around-the-Kyushu -", which were planned and offered by its group company Mitsui O.S.K. Passenger Line (MOPAS), won the Award of Excellence in the "Cruise of the Year 2017" awards sponsored by the Japan Oceangoing Passenger Ship Association (JOPA). The awards recognize inventive approaches by cruise lines, travel agencies
Foss Ships Utility Trucks to Puerto Rico
At the Port of Virginia in Norfolk and the Port of Lake Charles in Louisiana, Foss Maritime is loading hundreds of utility trucks onto barges bound for Puerto Rico this week. It’s all part of the on-going effort to restore power to nearly half of the population who are without electricity. Last Friday, Ricardo Rosselló, governor of Puerto Rico, announced that 1.5 million Puerto Ricans are still without power 100 days after Hurricane Maria hit Sept. 20
Acorus Denied Access to Paris MoU Region
M/V Acorus vessel was detained in Port of Asprogirpos (Elefsis) - Greece on 6 July 2017. This is the third detention in the Paris MoU region within the last 36 months. The ship flies the flag of Moldova Republic, which is black on the current Paris MoU WGB list. "Therefore under the provisions of section 4 of the Paris MoU, Article 16 of EU Council Directive 2009/16/EC, the ship will be refused further access to any port and anchorage in the Paris MOU region
Two AIDA Ships to Participate in German Maritime Festival
For the fourth time in a row, AIDA Cruises has agreed to sponsor a ship for one of these major public attractions of one of Germany’s biggest maritime festivals. Thanks to the support of the cruise company based in Rostock, the venerable Russian vessel “Kruzenshtern” will be a guest at the 27th Hanse Sail from August 10–13, 2017. The “Kruzenshtern,” a four-masted barque, which sails under a Russian flag
GE to Upgrade P&O Cruises' Oceana
P&O Cruises, part of Carnival Corporation & PLC, has chosen GE’s Marine Solutions once again to provide upgrades on board its 77,499-ton cruise vessel Oceana. Formerly known as Ocean Princess, the cruise ship was built in 1998 and had GE’s Syconum 2 electronic controller on board. GE will now be responsible for replacing existing controllers with the new generation of power electronics controllers on the four propulsion drives
Bay Ship and Yacht to Perform Maintenance on Balclutha
Bay Ship and Yacht Co. has announced it has once again been honored with the contract to perform maintenance on the historic sailing ship Balclutha. This is the third time the reputable ship yard has been chosen to perform much-needed detailed maintenance on the 131-year-old ship. A three-mast, steel-hulled square-rigged sailing ship, the Balclutha is one of the last of her kind. “The Balclutha is truly a gem of American history
Post-Irma Focus: SAR & Restoring Power
Federal officials were focused on Monday on search and rescue operations and restoring power to millions of people after Hurricane Irma tore across the Florida Keys before moving north up the state with high winds and heavy rains, the acting Homeland Security secretary said. Acting DHS Secretary Elaine Duke told CNN 200,000 people remained in shelters and more than 5 million were without power, but the top priority was search and rescue as daylight revealed the damage from the storm
Newcastle Completes Operations with US 5th Fleet
HMAS Newcastle has completed an attachment with the US Navy’s 5th Fleet in the Arabian Gulf while deployed on maritime security operations in the Middle East region. During the two-week attachment supporting the USS Nimitz Carrier Strike Group (CSG-11), Newcastle conducted escort operations and a range of naval manoeuvres with USN ships
Fincantieri to Build a Cruise Ship for Cunard
Fincantieri and Carnival Corporation & plc announced today the signing of a memorandum of agreement (MoA) for the construction of one next-generation cruise ship for luxury brand Cunard. The agreement will become operational when all the financial and technical conditions will be satisfied, the shipbuilder said. The ship will be built at the Monfalcone yard and join the Cunard’s fleet in 2022
Viking Planning Hydrogen-powered Cruise Ship
Viking Cruises is reportedly working on a project to develop a vessel fuelled by liquid hydrogen that could become the world’s first cruise ship with zero-emission technology, according to the Norwegian Maritime Authority (NMA). NMA said the announcement was made by Viking Cruises project manager Serge Fossati during the Safety at Sea Conference in Haugesund. “This is a world sensation. Very exciting
HHLA: New Mega-Ship Gantry Cranes Off to a Strong Start
The COSCO Netherlands was the first ship to be processed by the five new container gantry cranes at the HHLA Container Terminal Tollerort (CTT), which are equipped to handle ships with a capacity of more than 20,000 standard containers (TEU). Three of these high-performance gantry cranes have been put into service at Tollerort in the last few days. Two identical gantry cranes have been processing mega-ships at berth 5 since November 2016.
Aerial Drones Take Flight in Maritime
Flights of Fancy? No longer a pipe dream, aerial drones find a home in maritime. Price Waterhouse Cooper estimates the global commercial drone market at $127 billion. Shipyards, offshore wind-farm developers, cruise lines, blue water cargo agencies, maritime marketing departments, first responders, admiralty lawyers, shore-to-ship package couriers, insurers, classification societies, salvors, container ports and the military are all using or actively exploring drones to accomplish
C. Fly Marine Introduces New Aluminum Utility & Patrol Boats
Eyeing growth opportunities within the global maritime defense and first responder markets, naval architect and marine engineering firm C. Fly Marine Services has added a new line of production ready aluminum patrol and utility boats. Established in 1994, Louisiana based C. Fly Marine Services offers agencies and builders a complete turnkey pre-engineered line of aluminum vessels from 30’-80’.