Gol News

DVB Group Merchant Bank (Asia) Ltd, a unit of Germany’s DVB Bank SE, can now go ahead and seek bids for selling six ships of GOL Offshore, earlier known as Great Offshore Ltd, to recover their part of outstanding loans, says a report in the Livement. The Bombay high court has allowed DVB Group to start the process of undertaking valuations of six ships of Mumbai-based offshore services firm and seek potential bids. Bombay high court said six offshore vessels—Malaviya 23, Malaviya 24, Malaviya 25, Malaviya 27, Malaviya 28 and Malaviya 9— lender can immediately publish public advertisements and notices after 24 June for the sale of the vessels in its order dated 13 June.

IRClass, a leading Class Society in Asia has successfully completed 40 years in the service of Maritime industry. With the growth in India’s international trade, the country’s merchant fleet has expanded substantially from 1970s to now. This needed to be backed by a reliable, cost effective and neutral technical body in order to promote national maritime interests and serve as a nucleus for R&D in shipping, shipbuilding & allied industries. The Indian Register of Shipping was thus formed in April 1975 with the active support and co-operation from the Indian Shipowners and Ministry of Shipping, Government of India following the recommendations of the Sir Ramaswami Mudaliar Committee.

The 3rd Annual Conference on Salvage and Wreck Removal in India is to be held on Thursday, July 10, 2014 for the first time in Chennai at the Hotel Vivanta by Taj - Connemara, Binny Road, Chennai 600002. The Conference this year is presented by the Institute of Chartered Ship brokers (East India Branch). 2. examine recent accidents…collisions, groundings, oil spills and other casualties 3.

Foreign players continue to dominate several segments of the Indian maritime industry: from salvage to dredging, chartering to ship management and ship manning, to name but a few. And the list of foreign firms setting up shop in India is growing as the country is hurriedly putting in place the required infrastructure to meet the huge demands of India’s growing international trade. Globally, India is the 7th largest country in area, 2nd in population and 11th in GDP, with the expectation that it will ascend to the top five in GDB by 2020. The country is blessed with a 4,700 mile coastline, making it one of the longest in the world not forgetting the 14…

In the three years since its launch GOL Salvage Services Ltd., having forayed into a domain traditionally commanded by global players has today become a force to reckon with. GOL Salvage’s Executive Director,Capt. Sandeep Kalia, gives a rare insight into the Indian salvaging scenario. ‘Fools rush in where angels fear to tread’ had been the deciding factor for most salvors in India, holding them back from entering the salvage business in earnest. But when GOL Salvage Services Ltd. entered the field in 2011, it became a game changer as it was the first fully indigenous salvage company making an entry into the field that was traditionally dominated by overseas salvaging giants.

Ongoing infrastructure and newbuild activity not expected to let up. Modern, sophisticated and quality tonnage arrives at just the right time. Vessel builders are ramped up for strong demand from the Gulf of Mexico, where oil drilling is very soon expected to return to pre-Macondo levels. Utilization rates for offshore vessels are rising in the GoM, along with associated dayrates. Three Louisiana leaders--Edison Chouest Offshore in Cut Off, Hornbeck Offshore Services Inc. in Covington and Harvey Gulf International Marine in New Orleans--are engaged in aggressive newbuild programs.

New Orleans based Harvey Gulf International Marine CEO Shane Guidry announced his company’s first public rating from Moody’s for a new $1 billion credit facility. Harvey Gulf CEO, Shane Guidry, said the rating will help increase the company’s EBDITA to over $500 million in 2016, through additional new builds and acquisitions. Moody's Investors Service assigned a first time corporate family rating (CFR) of B1 to HGIM Corp (Harvey), and a B1 rating to the company's proposed credit facility consisting of $250 million revolver and $750 million Term Loan B.

According to a report from RTT News, on March 1, Golar LNG Ltd. (GOL) posted consolidated net income of $4.7m and consolidated operating income of $15m for the fourth quarter of 2010.   (Source: RTT News)

Technology Associates, Inc (TAI) a New Orleans based Naval Architecture firm which also has an office in India has unveiled its Technology EnviroMax 300 OSV. Utilizing a unique Designer/Builder relationship, this design was developed in conjunction with Thoma‐Sea Shipyards. The design already has up to six vessels under construction at Thoma‐Sea Shipyards’ facilities in Lockport, Laa. Thoma‐ Sea Shipyards acquired this facility from Halter Marine in 2002 and has been using it to build OSV’s up to 270ft.

Early this February, Breauxs Bay Craft will deliver their largest crew boat to date to Gulf Offshore Logistics. It is the third in a three boat series for GOL. The red-hulled Miss Lauren is a 180 ft DP2-equipped crew boat. She is powered by four Cummins KTA50 mains each delivering 1800 hp at 1900 RPM to Twin Disc MG6848 gears with 2.93:1 ratios. Two of the four Nibral 54x54-inch propellers are mounted on 24 ft by five-inch Aquamet shafts while the other two are on 28 ft shafts reflecting the positioning of the four engines.

Intracoastal Iron Works, Inc. of Bourg, will deliver another of their popular 72.5 x 28-ft. lugger-type boats this June with one more to follow in September. The boats are powered by a pair of 600 hp Cummins KTA19 main engines turning into Twindisc 5170 gears. Owners of the handy inshore vessel will be G.O.L. (Gulf Offshore Logistics). The 1200 hp tug will have 28 x 32-ft. of clear deck space forward. The model bow is set with a pair of push knees.

While much of the boat building industry on south Louisiana is being driven by the deep-water offshore industry, there is a continuing need to maintain the existing near shore production wells and infrastructure. The market demand in this sector was increased by extensive infrastructure damage by hurricane Katrina. At the end of December Intracoastal Ironworks will deliver the Lauren G, a 1200 hp lugger-type model bow tug to meet the demands of that market niche. To be operated by G.O.L. (Gulf Offshore Logistics) the 72 x 28 vessel has a molded depth of seven feet.

Louisiana shipyards are famous for launching fine boats from some pretty basic facilities. Raymond Viguerie's Intracoastal Marine is a good example. His yard near Bourg Louisiana doesn?t need fancy building sheds. It relies on good people like yard manager Joey Portier to keep the several boats building at any given time moving along to schedule. An important part of keeping to the schedule is the use of modular construction. While working with a small crew, the yard has been able to build the M/V Alexandra Danos with efficiency and a minimum of time spent climbing in and out of the hull. The 140 by 34-foot mini-supply vessel was fabricated in three modules. One module was for the raised foc?sle and superstructure, another for the forward hull and the third for the aft hull.