Royal IHC Ships Equipment for Weeks' New Hopper Dredge
A shipment of Royal IHC's equipment is traveling from Europe to the U.S. to be installed on Weeks Marine's new trailing suction hopper dredge (TSHD) R.B. Weeks, currently under construction at Eastern Shipbuilding Group's Allanton shipyard in Florida. In May of 2020, Royal IHC and Weeks Marine Inc. entered into a contract for the engineering and equipment delivery for the 6,540-cubic-meter-capacity newbuild, an identical vessel to the Magdalen delivered to Weeks from Eastern in 2017. Like the Magdalen, the R.B.
GE to Supply Propulsion Systems for MARAD's New Training Ships
GE’s Power Conversion business has been awarded a $40 million contract to supply the power and propulsion systems for two National Security Multi-Mission Vessels (NSMV). This new class of purpose-built ships for the U.S. Department of Transportation's Maritime Administration (MARAD) will be used primarily to provide cadets with at-sea training on operational vessels.GE was selected as the single-source vendor (SSV) for the ships’ propulsion system, which includes the integration of the diesel engines…
Semco Maritime to Upgrade Odfjell Rig
Odfjell Drilling and Semco Maritime signed a contract for preparation and modification of Deepsea Stavanger rig prior to its start of a nine-month drilling campaign for Total in the harsh waters outside South Africa.The semi-submersible rig will complete a high docking (with thrusters on) in Semco Maritime’s rig yard at Hanøytangen, Bergen, in Q1 2020, said the oil drilling, well service, and engineering company."The high docking enables for a minimized diving operation during antifouling of the hull and optimization of the time spent on seawater valve change,” said Managing Director of Semco Maritime Norway, Lars Jønholt Halvorsen.
Senator Baldwin (D - WI) Introduces 'Buy America' Bill for WI Small Yards
Legislation would close a loophole to strengthen Buy America standards that will support Wisconsin businesses, manufacturers and workers.U.S. Senator Tammy Baldwin today introduced the bipartisan Strengthening Buy America for Small Shipyard Grants Act to strengthen Buy America requirements for federal Small Shipyard Grant funding to support American businesses, manufacturers and workers. The bill is cosponsored by Senator Bill Cassidy (R-LA).While Buy American requirements already apply to the Small Shipyard Grant Program…
Beating the Bye-Bye Bonus Blues
A changing tax landscape doesn’t have to mean bad news – at least not just yet. Historically, bonus depreciation has had a significant effect on construction of new vessels, allowing businesses to initially expense 30 percent, occasionally 100 percent and most recently 50 percent, plus the standard Modified Accelerated Cost Recovery System (MACRS) of the cost of newly built equipment. In the first year of purchase, this had a significant effect on the building of new vessels. Order books at most builders swelled as the incentives kicked in. Section 179 expensing for “new to you” assets ranged from a low of USD $20,000 in 2000 all the way to $500,000 in 2013. Then, in December of last year, the U.S.
Resolve, T&T Bisso Form FiFi Coalition
Resolve Marine Group and T&T Bisso have announced their coalition for Marine Firefighting services in U.S. waters. This agreement combines both companies’ extensive firefighting infrastructure to produce overlapping coverage and higher volume firefighting capacity throughout the U.S. This coalition was crafted specifically to help tank vessel operators fully comply with the new Oil Pollution Act of 1990 regulations that will be effective on February 22, 2011. The regulations require that all tanker and tank barge owners operating in U.S.
