Shipyard Contract Cancelled
Ongoing uncertainty in the global offshore energy sector has claimed another casualty, as Kawasaki Heavy Industries announced that it has terminated -- in agreement with Island Navigator I KS -- the shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. A number of factors were cited in the decision to cease the construction, including difficulties in the engineering process and increased material costs since the signing of the contract…
Eagle Bulk Shipping Takes Delivery of Supramax Drybulk Vessel
Eagle Bulk Shipping, Inc., a global marine transportation company specializing in the Supramax segment of the dry bulk shipping industry,announced that it has taken delivery of the Shrike, a 2003 built 53,343 dwt Supramax dry bulk vessel. The Shrike was acquired as part of a three vessel transaction announced on February 28, 2007. The Shrike will immediately commence a 24-27 month charter at a rate of $24,600/day. The charterer has an option to extend the charter period by 12-14 months at a rate of $25,600/day.
PPG Completes Acquisition of CSI
PPG Industries announced that it has completed the previously announced acquisition of substantially all of the assets of Canal Supplies Inc. (CSI), a privately-owned, Panama-based distributor of protective and marine coatings to customers in Central America. Financial terms were not disclosed. “The acquisition of CSI enhances our ability to supply customers throughout Central America and meet growing demand for our protective and marine products in this growth market,” said Tim Knavish, PPG vice president, protective and marine coatings.
Conrad Industries Names Freeman General Manager
Conrad Industries announced the hiring of David Freeman as the general manager of its Morgan City, La., shipyard. Freeman has spent the past 7 years as the Vice President and CEO of Breaux Brothers Enterprises, Inc. and joins Conrad with over 30 years of experience in the marine industry.
Hyundai Heavy Affiliate Aims to Sell Stake in Brokerage Unit
South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year. The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities. In June, Hyundai Heavy Industries announced a plan to sell its non-core assets, as the shipbuilder is grappling with a global slump in trade and commodities, plus rising competition from China. (Reporting by Hyunjoo Jin; Editing by Gopakumar Warrier)
Navios Maritime Announces Long-Term Time Charters
Navios Maritime Holdings Inc., a vertically integrated global shipping company specializing in the dry-bulk shipping industry, announced today that it has secured favorable time charter contracts for three of its vessels. As a result, Navios has extended the coverage of its core fleet to 100.0% for 2006, 73.3% for 2007 and 37.0% for 2008. The time charters, for the Navios Cielo, Navios Orbiter and Navios Sagittarius, have been fixed for approximately 2 years each at rates creating approximately $32.9 million of EBITDA over the charter periods.
ENSCO, RigNet Renew Contract
RigNet Inc., a privately held provider of managed communications services to the oil and gas industry, announced it has renewed its contract with ENSCO Offshore Company to provide voice and high-speed data services to ENSCO's fleet-wide drilling operations in the Gulf of Mexico. As part of this renewal, RigNet will now be the sole communications provider for ENSCO's Gulf of Mexico fleet, replacing Caprock Communications who had provided satellite communications. As part of the agreement with ENSCO, the RigNet communications solution will continue to be available on each of ENSCO's 19 rigs operating in this region. (Source: Houston Chronicle)
Henzel Joins Bisso Marine
Bisso Marine, a provider of salvage services to the maritime and energy industries, announced the addition of JoAnn Henzel to its Salvage & Emergency Response Team. Henzel, who will serve as a project manager, has 12 years of specialized experience in salvage and wreck removal. Before joining Bisso Marine, Henzel acquired extensive field experience as a logistics coordinator for Titan Salvage of Fort Lauderdale, Fla., handling domestic and international jobs including New Carissa in Oregon…
GOM Oil Production to Reach Record High
According to a report from the Offshore Magazine, Gulf of Mexico oil production is forecast to increase substantially over the next few years, possibly reaching 1.9 MMb/d in 2013 which would be a record high. This is MMS’ best-case scenario, which factors in industry-announced discoveries and undiscovered resources. (Source: Offshore Magazine)
Sorensen MCP Managing Director, Americas
Maritime Communications Partner (MCP), wireless communications provider to the cruise industry, announced that it has appointed Fred Sorensen as its new Managing Director for the Americas. He succeeds Steinar Stromsvag who has been in charge of MCP’s Miami office since 2005. Sorensen brings more than 18 years of sales and marketing experience to the role having previously worked as Vice President of Sales and Supply Chain Management at Wilhelmsen Marine Engineering’s Callenberg division and Senior Technical Buyer with Disney Cruise Line. (www.mcp.com)
Harvey Gulf Int’l Implements MarineCFO
MarineCFO Inc., the leading provider of On-Vessel, Marine Operations, Personnel, Fleet Maintenance and Financial Management Software Solutions to the Workboat Industry, announced the completed implementation of its software suite, MarineCFO Enterprise, at Harvey Gulf International Marine LLC (Harvey Gulf). MarineCFO Enterprise automates business processes from the boat straight through dispatch, personnel, maintenance and finally financial management & reporting. www.MarineCFO.com
AVEVA Marine Solutions Serve Thailand, India
AVEVA Group plc (LSE: AVV), provider of engineering design and information management solutions to the plant, power and marine industries, announced that Thai-based The Bangkok Dock Company (1957) Limited, and Indian- based SKA Marine Services Pvt Ltd. have concluded contracts for the use of AVEVA Marine solutions within their respective yards.
Offshore Services Chooses MarineCFO Software
MarineCFO Inc., a provider of Marine Software including On-Vessel, Marine Operations, Personnel, Fleet Maintenance and Financial Management Software Solutions to the Marine Transportation Industry, announced that International Offshore Services has chosen to implement the full MarineCFO Enterprise software suite. International Offshore Services, LLC was formed in 2006 by combining International Marine (started in 1996) and International Construction Group. Through its wholly-owned subsidiaries…
Eniram to Provide Boil-off Management for LNG Sector
Eniram Limited, the Finnish provider of energy management technology and data analytic services to the shipping industry, announced that it is releasing an onboard and onshore Boil-off Management Tool designed for LNG carriers. Eniram’s Boil-off Management Tool enables officers both onboard and onshore to understand and monitor the actual boil-off for LNG carriers. The company states it is the first in the world to quantify and provide a Boil-off Management Tool for the actual measured boil-off, based upon real onboard data.
Trinity Industries Announces Barge Construction Agreement
Trinity Marine Products has reached a long-term agreement to provide barges to Ingram Barge Company, the leading carrier on America's inland waterways. The contract calls for the construction of dry cargo units for a number of years. The terms were not disclosed except that the agreement protects Trinity with cost escalation coverage.
Huntington Ingalls Subsidiary Partners With HHIC Holdings
Virginia Beach, Va. - Huntington Ingalls Industries announced that its subsidiary, AMSEC, has signed an agreement with Hanjin Heavy Industries and Construction Philippines Inc., a subsidiary of HHIC Holdings Co. Ltd., to work together in providing maintenance, repair and logistics services to the U.S. Navy and other customers in the western Pacific region. The agreement with HHIC-PHIL allows AMSEC to benefit from Hanjin's state-of-the art shipyard at Subic Bay, Philippines, and accelerate Hanjin's growth into the maintenance, repair and logistics services, as the U.S. Navy increases focus in the Western Pacific region. "It's great that AMSEC's relationship with HHIC-PHIL has been firmly established," said Harris Leonard, HII vice president and president of AMSEC operations.
Shipbuilder HII Declares Quarterly Dividend
Huntington Ingalls Industries announced today that its Board of Directors has declared a quarterly cash dividend of $0.60 per share, payable on March 10, 2017, to shareholders of record as of the close of business on March 3, 2017. Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder.
AVEVA Names Tam as VP, Sales
AVEVA a supplier of engineering IT systems for the plant and marine industries, announced that Hanno Tam has been appointed to the position of Vice President of Sales for AVEVA Americas. Tam, a seventeen-year AVEVA veteran, will oversee sales operations for Canada , Latin America, and the United States . He has over 20 years of experience in the Process, Power and Marine industries in technical, sales, business development, and managerial roles. Prior to this appointment, Tam as head of region spearheaded AVEVAâ€™s South East Asia countries and India sales operations, growing that business more than 600% over the last three years. Tam was a key member of the team that started AVEVAâ€™s early operations in Japan…
Conrad Industries Appoints Derbes CFO
Conrad Industries announced that the Board of Directors has named Lewis Derbes, Jr. as the company’s new vice president and chief financial officer, effective September 30, 2002. Lew has spent the past 5 years with Northrop Grumman’s Avondale Industries, Inc., recently as the vice president and controller. Lew joins Conrad with an extensive background in all areas of financial and accounting management, including SEC compliance and reporting. Prior to his service with Avondale, Darbes was an accountant with Deloitte & Touche. Conrad’s current CFO, Cecil Hernandez has elected to resign as CFO effective September 30, 2002 to pursue other business opportunities. Cecil will remain as an officer of the company through an agreed upon transition period and will remain as a director.
Bossier Retires, Kitchen Takes Avondale Helm
Litton Industries announced that Thomas M. "Tom" Kitchen, a member of the Litton Avondale Industries management team, has been named president of Avondale to succeed Albert Bossier, age 67, who is retiring Nov. 1, 1999, after 42 years of service to Avondale. "Tom Kitchen has played an integral role in the overall success of Avondale since joining the company in 1977," said Jerry St. Pe, Litton executive vice president and COO of Litton Ship Systems (LSS). Kitchen, age 51, joined Avondale in 1977 as an assistant controller. He has advanced through a series of assignments, culminating in his current duties as vice president and CFO. A New Orleans native, he holds a bachelor of science degree in accounting and master of business administration degree from the University of New Orleans.
ÅF AB selects AVEVA for Engineering Design
Significant cost and time savings achieved on projects using AVEVA PDMS. AVEVA, a provider of engineering design and information management solutions for the plant, power and process industries, announced ÅF AB, one of Sweden’s leading contractor and industry groups, will use AVEVA Plant as its principal design portfolio. ÅF AB has realised major cost and time savings using AVEVA PDMS for 3D design since it was first deployed in 2000. Under the terms of the new agreement, ÅF AB will now roll out AVEVA Plant across all new large and medium sized design projects.
Japanese Shipbuilders Sign Aveva Contracts
Aveva (LSE:AVV), supplier of engineering IT systems for the plant and marine industries, announced that several Japanese shipbuilders -- Namura Shipbuilding, Universal Shipbuilding Corporation, Shin Kurushima Dockyard, Sumitomo Heavy Industries Marine & Engineering and Imabari Shipbuilding Group -- have signed contracts worth over $2.5m to extend their use of Aveva marine solutions. The contracts were made in the first half of Aveva’s financial year ending 30 September 2008. Aveva marine solutions were first used in Japan by Kawasaki Shipbuilding Corporation in 1994. Kawasaki has since expanded the use of Aveva marine solutions to its commercial and naval yards. To date, there are more than twenty Japanese customers who actively subscribe to Aveva’s shipbuilding solutions.
EP Tools, CWind Win Nordsee Ost Contract
EP Tools, a Danish company with more than 15 years of experience in working with developers and construction companies in the wind and oil and gas industries, and CWind, a provider of services to the offshore wind industry, announced that they are to provide temporary power supply at NordSee Ost offshore wind farm in Germany. EP Tools will provide more than 50 generators while CWind is using its vessels and technicians to provide the project management, servicing, maintenance and refueling. Bernd Sahling, Senior Procurement Manager, RWE Innogy, remarked on the contract award, “We carefully considered our options for the temporary power supply at NordSee Ost.