Power Contract for FPSO Announced
Finland's Wärtsilä won a contract in May 2007 by the Brazilian offshore company Dynamic Producer Inc. to supply the entire power, automation and propulsion system for a dynamically-positioned well-testing FPSO (floating production, storage and offloading) vessel with the project name PIPA II. The project is due for completion in the first part of 2009. This dynamically-positioned well-testing vessel will be converted from an existing Aframax tanker and equipped with drilling, as well as production equipment. Dynamic Producer Inc. will employ the ship offshore in Brazilian waters from 2009 onwards. Wärtsilä will supply the electrical propulsion…
Wärtsilä Completes Power, Automation and Propulsion System for FPSO
Wärtsilä was awarded a contract in May 2007 by the Brazilian offshore company Dynamic Producer Inc. to supply the entire power, automation and propulsion system for a dynamically-positioned well-testing FPSO (floating production, storage and offloading) vessel with the project name PIPA II. The project is due for completion in the first part of 2009. This dynamically-positioned well-testing vessel will be converted from an existing Aframax tanker and equipped with drilling, as well as production equipment. Dynamic Producer Inc. will employ the ship offshore in Brazilian waters from 2009 onwards. Wärtsilä will supply the electrical propulsion…
Management Dynamics Hires Three Regional Sales Directors
Management Dynamics, Inc. the market leader in tariff and contract management solutions for the ocean transportation industry, today announced that the company has hired three regional U.S. sales directors to support the company's continued expansion into the shipper, freight forwarder, and Non-vessel operating common carrier (NVOCC) markets. Michael Roberts will be responsible for Rate Explorer® product sales in the Southeast region; Patrick Taylor will lead Management Dynamics' sales operations in the Midwest; and John Christensen will direct the company's Northwest sales program. Management Dynamics President and COO, John Preuninger, said, "We are extremely pleased to add three proven sales executives to the Management Dynamics team.
Oil Drillers Group to Fight U.S. Export Ban
More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope would create jobs and boost national security, a spokesman for one of the companies and a lobbyist for another one said on Friday. Producers for American Crude Oil Exports, or PACE, is the first lobbying group to form on reversing the ban. "The end game here is legislative repeal of the ban," said a lobbyist for one of the member producers, who did not want to be named because the group was only recently formed. Congress passed the trade restriction in the 1970s after the Arab oil embargo caused fears of domestic oil shortages.
Deltamarin Wins Contract from Petrobras
The Brazilian oil company Petrobras has awarded the Finnish engineering company Deltamarin Ltd the concept study work for their FPDSO development. The contract contains concept design development. "Deltamarin won this contract because we have a very recent reference in this field namely FPDSO 'Dynamic Producer' for Petroserv, which is now under construction in Singapore at Sembawang Shipyard. Petroserv has a service agreement with Petrobras for Dynamic Producer," said Timo Granberg, Sales Director Offshore at Deltamarin. The vessel is to be designed as a DP EWT/EPS vessel for the Brazilian Ultra Deepwater Offshore Oilfields. (www.deltamarin.com)
OTC Names Technology Award Winners
The Offshore Technology Conference (OTC), which takes place May 4-7 in Houston, has announced 17 technologies that will receive the Spotlight on New Technology SM Award. The 2015 awards will be presented May 4, in the NRG Center Rotunda Lobby. The Spotlight on New Technology Awards—a program for OTC exhibitors—showcase the latest and most advanced hardware and software technologies that are leading the industry into the future. In support and recognition of innovative technologies being developed by small businesses…
NNS Squabble Seen Settled In Washington
With General Dynamics Corp. and Northrop Grumman Corp. battling for Newport News Shipbuilding Inc. both the Pentagon and Virginia's powerful delegation in Congress are ready to step into the fray over who buys the nuclear-capable contractor. Defense Department officials are likely to weigh the cost benefits of each deal, questioning which combination would lower the price of nuclear-powered vessels for the U.S. Navy. Virginia's elected representatives will eye the acquisition's effect on jobs, and the warfare technology research funds that the shipbuilder, based in Newport News, Virginia, draws into the state. "This thing has become a political game now," said a veteran defense industry antitrust lawyer, who asked not to be named.
Thermal Dynamics Introduces Ultra-Cut 400
Thermal Dynamics®, a Thermadyne® brand and a producer of manual and automated plasma cutting systems, has added the Ultra-Cut® 400 to its line of high precision automated plasma systems. Joining the Ultra-Cut 100, Ultra-Cut 200 and Ultra-Cut 300, the Ultra-Cut 400 is designed to deliver 400 amps at 200V at 100% duty cycle. It offers production piercing and cutting up to 2 inches on mild steel, stainless steel and 2-1/4 inch aluminum. New Ultra-Cool™ consumable parts technology delivers parts life at 400 amps with O2/Air. All Ultra-Cut systems include the Water Mist Secondary (WMS®) process for cost effective precision cutting of nonferrous materials. Along with these offerings, Thermal Dynamics has introduced a new Diameter PRO™ technology with its XT-Series of CNC controls.
Oceaneering Utilizes VitalLink 1200
Oceaneering International Inc recently purchased VitalLink 1200, the latest in medical technology from TeleMedic Systems for use in remote medical emergencies. VitalLink has been installed on board FPSO Ocean Producer providing the crew with access to 24 hour a day medical advice from International SOS, the world’s largest medical and security assistance company. VitalLink 1200, packaged in a ruggedised water resistant portable backpack, has been specifically designed for the non-medically trained operator. Should a worker on the Ocean Producer become sick or injured, the unit is activated, and voice prompts and on-screen instructions guide the operator through the attachment of simply designed medical leads to the patient.
General Dynamics to Acquire Earl's Ship Repair Division
General Dynamics has entered an agreement to acquire the Ship Repair and Coatings Division of Earl Industries, a leading East Coast ship repair company that supports the U.S. Navy fleet in Norfolk, Va., and Mayport, Fla. The value of the cash transaction, which General Dynamics expects to be accretive to earnings in 2013, has not been disclosed. The transaction is subject to customary closing conditions and is expected to close this summer. Earl Industries is a privately held company. The Ship Repair and Coatings Division employs approximately 575 workers in the Norfolk and Mayport areas. Earl Industries has been conducting U.S. Navy ship repair and conversions since 1985. It is a prime contractor for nuclear aircraft carrier (CVN) multi-ship, multi-option (MSMO) contracts.
General Dynamics Completes Metro Machine Acquisition
Transaction expands company’s capabilities in ship repair market. General Dynamics (NYSE: GD) today completed its acquisition of Metro Machine Corp., a leading East Coast surface-ship repair company that supports the U.S. Navy fleet in Norfolk, Va. The value of the cash transaction has not been disclosed. Metro Machine Corp. now becomes part of the shipbuilding and repair operations of San Diego-based General Dynamics NASSCO, a leading provider of ships to the Navy, a major producer of commercial vessels and the largest shipbuilding and repair company on the West Coast. “The addition of Metro Machine enhances our ability to compete in the growing naval ship repair market,” said Fred Harris, president, General Dynamics NASSCO.
Two Shipbuilding Initiatives Receive Funding
The Office of Naval Research announced today the selection of two Shipbuilding Initiative projects to receive a combined total of $1 million of Navy funding. Industry will contribute approximately $900,000 in cost share. · Development of Advanced Steel Fabrication Processes for Naval Ship Construction, which will be performed by: Institute for Manufacturing and Sustainment Technologies (iMAST), Gulf Coast Region Maritime Technology Center, General Dynamics – Electric Boat Corp., and General Dynamics – Bath Iron Works Corp. · Hybrid Welding of Ship Structures, which will be performed by: Navy Joining Center, iMAST, Newport News Shipbuilding…
General Dynamics to Acquire Earl Industries’ Ship Repair Division
General Dynamics (NYSE: GD) has entered an agreement to acquire the Ship Repair and Coatings Division of Earl Industries, a leading East Coast ship repair company that supports the U.S. Navy fleet in Norfolk, Va., and Mayport, Fla. The value of the cash transaction, which General Dynamics expects to be accretive to earnings in 2013, has not been disclosed. The transaction is subject to customary closing conditions and is expected to close this summer. Earl Industries is a privately held company. The Ship Repair and Coatings Division employs approximately 575 workers in the Norfolk and Mayport areas. Earl Industries has been conducting U.S. Navy ship repair and conversions since 1985. It is a prime contractor for nuclear aircraft carrier (CVN) multi-ship, multi-option (MSMO) contracts.
General Dynamics Completes Acquisition of Earl Ship Repair
Completion of this transaction expands General Dynamic's capabilities in ship-repair market. General Dynamics has completed its acquisition of the Ship Repair and Coatings Division of Earl Industries, a leading East Coast ship-repair company that supports the U.S. Navy fleet in Norfolk, Va., and Mayport, Fl. The acquisition is expected to be accretive to General Dynamics' earnings in 2013. The Ship Repair and Coatings Division of Earl Industries is a prime contractor for nuclear aircraft carrier (CVN) multi-ship, multi-option (MSMO) contracts. MSMO contracts provide for maintenance, modernization and repair to all ships of a class in specific homeport areas. The company also provides maintenance and repair services to frigates and other classes of naval ships.
SHIPPINGInsight Fleet Optimization Conference Update
Early Bird Pricing Extended for SHIPPINGInsight Fleet Optimization Conference; More than 30 Industry Experts to Address Challenges and Solutions for Reducing Costs and Enhancing Efficiency in Ship Operations. The organizers of the SHIPPINGInsight 2012 Fleet Optimization Conference in Stamford, Conn., have extended the deadline for Early Bird registration until Sept. 21st. The $995 Early Bird registration represents a savings of $400 off the full onsite conference fee of $1,395. Taking place at the Sheraton Stamford Hotel Oct.
NAIAD Acquires VT Motion Control Group
USA Naiad Maritime Group, Inc. and VT Group plc (VT) announced Naiad Maritime Group’s completion of the acquisition of the collection of businesses known as the VT Motion Control Group, including Naiad Marine Systems, Maritime Dynamics, Vosper Motion Control and Vosper Stabilizers. The acquisition was led by John Venables, former Group President of the VT Motion Control businesses, with 27 years in various engineering and executive capacities at the companies. Venables will continue to lead the business as President & CEO of Naiad Maritime Group. Naiad Maritime Group, Inc. is comprised of Naiad Dynamics US, Inc., Naiad Dynamics UK, Limited, and Naiad Dynamics Holland, BV. It has operations in Connecticut, Maryland, Florida, and Washington, the Netherlands, United Kingdom, and Australia.
U.S. refiners oppose easing crude export limits
Four U.S. oil refiners, trying to counter growing calls to lift the nation's ban on most crude oil exports, have launched the first major lobbying effort to keep abundant U.S. oil supplies from being sold overseas. Rising U.S. shale oil production has opened the door to a possible revision of the decades-old policy restricting most exports of unrefined petroleum. Various groups and lawmakers favoring exports have been fast out of the gate, seizing on a comment by U.S. Energy Secretary Ernest Moniz in December that it might be time to take another look at the law. Philip Rinaldi, chief executive of Philadelphia Energy Solutions, said the anti-export group Consumers and Refiners United for Domestic Energy, or CRUDE, was formed with the goal of preventing a hasty reversal of policy.
Sonangol to Buy Cobalt's Stake in 2 Offshore Blocks
Angolan state oil company Sonangol said it would buy oil and gas producer Cobalt International Energy Inc's 40 percent stake in two oil blocks offshore Angola for $1.75 billion. Cobalt operates three blocks covering 3.4 million acres off the Angolan coast. (Reporting by Anannya Pramanick; Editing by Saumyadeb Chakrabarty)
Chiquita Sells 12 Ships for $227m
Banana producer Chiquita Brands International will sell 12 refrigerated cargo ships for $227mto an alliance of Eastwind Maritime Inc. and NYKLauritzenCool AB. The deal will allow Chiquita to lease back 11 of the ships for at least 7 years, with an option for 5 more years and the other ship for 3 years with an option for 2 more years. The sale includes eight reefer ships and four container ships. Source: Reuters
PetroQuest Sells Shares
Lafayette, La.-based PetroQuest Energy Inc. sold an additional 195,000 shares of its 6.875 percent Series B preferred stock. The energy producer received about $70.7 million in proceeds from its recent public stick offering and will use the funds to repay debt and for other corporate purposes. The company is listed on the NASDAQ and its stock is traded under the symbol PQUE
Sharp Contrasts in Markets Impact Van Oord
The year 2017 was dominated by the difficult market conditions in the dredging and oil & gas sectors, says Pieter van Oord, CEO, Van Oord, the Dutch contracting company that specializes in dredging and land reclamation. The global contractor specialising in dredging, marine engineering and offshore projects (oil, gas and wind) said that the volume of work in offshore wind was stable, and the market dynamic in the offshore wind sector will generate a lot of opportunities for years to come.
Northrop Grumman Complies With Antitrust Regarding NNS Purchase
Defense contractor Northrop Grumman Corp. on Monday said it notified the U.S. Department of Justice and the Federal Trade Commission of its intent to acquire Newport News Shipbuilding Inc. in compliance with antitrust regulations. Northrop placed an unsolicited bid for Newport News, maker of the U.S. Navy's nuclear-powered aircraft carriers, earlier this month, challenging a planned $2.1 billion merger of Newport and General Dynamics Corp. Both Northrop and General Dynamics have said they filed pre-merger notifications in compliance with the Hart-Scott-Rodino antitrust improvements act.
Merrimac Receives for Satcom Receivers
Merrimac Industries, Inc. announced that it received both an Internal Research And Development (IRAD) and a new co-design contract as a follow-on to the IRAD contract for multifunction integrated modules from General Dynamics Advanced Information Systems, a business unit of General Dynamics. The initial design effort is valued at approximately $500,000. Final design and manufacture of the subassembly modules from the IRAD contract was completed and delivered in April 2007.